The negative skew for November’s returns overall kept last month’s advance for the Global Market Index (GMI) to a tepid 0.8%. The numbers still look encouraging on a year-to-date basis, however. Indeed, GMI is higher through the first 11 months of 2013 by a strong 12.9%, thanks in no small part to soaring stock markets in the developed world. The MSCI EAFE’s total return so far this year is an impressive 21% while the Russell 3000 in the US is ahead by more than 30%. If you exclude those two pieces of the global asset pie, the performance numbers for global multi-asset class strategies are considerably weaker.