While it seemed there might be some trends of note around the middle of August; reversals in grains, energies, and bond markets in the last week of the month helped push managed futures into the red, with the Newedge CTA Index reporting managed futures down -1.32% in August.
While a loss of just over 1% isn’t the end of the world, the bigger context is starting to get worrisome – with the loss marking a fourth consecutive losing month, and the year to date performance now negative (-1.30%), threatening a fourth losing year out of the past 5. We can’t help but remember the old lady in the basketball classic Hoosiers, who tells Coach Norman Dale:
“Sun don’t shine on the same dog’s ass every day, but, mister you ain’t seen a ray of light since you got here.”
For many who became interested in managed futures following their 2008 performance, they sure “ain’t” seen a ray of light since they got here in 2009/2010. Here’s to hoping some worrying and calling out the recent losses will cause a contrarian rally heading into the end of the year…. And by the way, that guy who hadn’t seen the ray of light since he got to town, he did go on to win the championship (past performance is not necessarily indicative of future results).
Here’s the main managed futures indices performance for the year:
N/R = Not Reported Yet
Indices listed in order from oldest to newest.
Disclaimer: Past Performance is not necessarily indicative to future results.
The performance data displayed herein is compiled from various sources, including BarclayHedge, 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.
Managed futures accounts can subject to substantial charges for management and advisory fees. The numbers within this website include all such fees, but it may be necessary for those accounts that are subject to these charges to make substantial trading profits in the future to avoid depletion or exhaustion of their assets.
Investors interested in investing with a managed futures program (excepting those programs which are offered exclusively to qualified eligible persons as that term is defined by CFTC regulation 4.7) will be required to receive and sign off on a disclosure document in compliance with certain CFT rules The disclosure documents contains a complete description of the principal risk factors and each fee to be charged to your account by the CTA, as well as the composite performance of accounts under the CTA's management over at least the most recent five years. Investor interested in investing in any of the programs on this website are urged to carefully read these disclosure documents, including, but not limited to the performance information, before investing in any such programs.
Those investors who are qualified eligible persons as that term is defined by CFTC regulation 4.7 and interested in investing in a program exempt from having to provide a disclosure document and considered by the regulations to be sophisticated enough to understand the risks and be able to interpret the accuracy and completeness of any performance information on their own.
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