Managed Futures 2013 Strategy Review

 

Happy New Year to all of you from Attain. Like most, the end of the year allows us to reflect on the events and experiences that took place. There’s no denying it was, shall we say, a unique year for Managed Futures. After 3 out 4 years of negative returns coming into 2013, it appeared as though change was in the air early in the year as CTA’s collectively recorded four straight months of positive performance. Managed Futures was flexing that non-correlated muscle, as stocks continued to climb. Then it was as if something just stopped. The Managed Futures Indices and many of the individual programs we track followed the good start to the year with five months of choppy, inconsistent, and a negative performance.

 

Tack a particular media outlet’s war against the asset class and the end of a 30 year tail wind in interest rates onto the choppy conditions in the last half of the year and it felt like a terrible year for managed futures. But even after the streaky performance and negative press, Managed Futures as an asset class was sitting up 0.53% for the year coming into the last two days of trading according to Newedge. {Disclaimer: Past performance is not necessarily indicative of future results}.  Not a banner year, but not exactly the death knell many would have you believe.

 

In our annual end of year tradition, we take a moment to dig a little deeper into the overall asset class performance number and give some color on the different types of strategies which make up the managed futures asset class (no… it isn’t all trend following), and what caused the strategies to perform the way they did. Without further ado, our 2013 Managed Futures Strategy Reviews.

 

 

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The performance data displayed herein is compiled from various sources, including BarclayHedge, RCM's own estimates of performance based on account managed by advisors on its books, and reports directly from the advisors. These performance figures should not be relied on independent of the individual advisor's disclosure document, which has important information regarding the method of calculation used, whether or not the performance includes proprietary results, and other important footnotes on the advisor's track record.

Benchmark index performance is for the constituents of that index only, and does not represent the entire universe of possible investments within that asset class. And further, that there can be limitations and biases to indices such as survivorship, self reporting, and instant history.

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