Managed futures funds turned in a second straight positive month in January, returning 0.71%, according to the Barclay CTA Index, compiled by BarclayHedge.
Managed futures funds produced a third straight positive month in April returning 1.43%, according to the Barclay CTA Index, compiled by BarclayHedge, a division of Backstop Solutions. For the year to date, CTAs returned 3.80% through April.
Opalesque Industry Update - Managed futures funds turned in a second consecutive monthly gain in March returning 0.32%, according to the Barclay CTA Index, compiled by BarclayHedge, a division of Backstop Solutions. For the year to date, CTAs returned 2.29% through March. A strengthening U.S. dollar and a continuing uptrend in equity markets helped fuel CTA gains in March. The $1.9 trillion Covid Relief bill fed deficit concerns and ignited a rise in U.S. interest rates which, in turn, sparked appeal in USD carry trades against negative yielding currencies, said Sol Waksman, president of BarclayHedge.
All but two of the sectors tracked in the Barclay CTA Indices were in positive territory for March. The Cryptocurrency Traders Index led the way for the month, returning 10.95%. Other notable March gainers included the MPI Barclay Elite Systematic Traders Index, up 1.10%, the Financial & Metal Traders Index, returning 0.43%, the Agricultural Traders Index, advancing 0.42%, and
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The flash estimate for the Barclay CTA Index, compiled by BarclayHedge, indicates a 0.24% loss in May. Year to date, the Index is down 1.76%.
“Large system traders were the hardest hit by trend reversals in fixed income, energy, sugar and cocoa prices,” says Sol Waksman, founder and president of BarclayHedge.
The new MPI Barclay Elite Systematic Traders Index (MBEST) lost 1.85% in May, Diversified Traders were down 0.64%, Financials and Metals Traders lost 0.44%, and Systematic Traders gave up 0.44%.
“The larger funds are not as nimble and can impact prices more than their smaller brethren when market positions need to be reversed,” says Waksman.