This is What Progress Looks Like
We’re used to waiting far longer than we should have to for needed regulatory changes to take place. And although the PFGBest crisis should have never taken place, it’s at least nice to see that some steps are being taken to provide better oversight and protection of customer funds. We’re far from finished, but this is progress.
Attain Capital’s Semi-Annual CTA Rankings
It’s that time of year again – time for Attain Capital’s Semi-Annual CTA Rankings. We have the data for all of the CTAs we track through 2012, allowing us to try and answer the question we get on a daily basis: What’s your BEST managed futures program?
Are Low Interest Rates Dragging Managed Futures Down?
The debate over what has been ailing managed futures has been growing more mainstream by the day. Unfortunately, many of the arguments – like blaming low interest rates – are plausible, but don’t stand up under closer scrutiny.
The Scramble for China
China’s rise is changing the story for every part of the economy, and the trickle of opportunities for managed futures is beginning to pick up pace. Now that US and international banks are getting the green light to start trading in Chinese stock index futures, are we turning the corner on the scramble for China?
PFGBest Update: Plot Clichés Abound
The PFG Best story is full of so many twists and turns, we’ve wondered in the past how long it will be before the Hollywood treatment comes out (and whether a share of those profits would go to help make former customers whole). But as each new detail of the sordid affair has come to light, we’re starting to wonder if this tale might already be too unbelievable – or cliché – for even the big screen.
Disclaimers
Managed futures, commodity trading, forex trading, and other alternative investments are complex and carry a risk of substantial losses. As such, they are not suitable for all investors. You should not rely on any of the information as a substitute for the exercise of your own skill and judgment in making such a decision on the appropriateness of such investments.
The entries on this blog are intended to further subscribers understanding, education, and – at times – enjoyment of the world of alternative investments. Unless distinctly noted otherwise, the data and graphs included herein are intended to be mere examples and exhibits of the topic discussed, are for educational and illustrative purposes only, and do not represent trading in actual accounts. Opinions expressed are that of the author.
The mention of specific asset class performance (i.e. +3.2%, -4.6%) is based on the noted source index (i.e. Newedge CTA Index, S&P 500 Index, etc.), and investors should take care to understand that any 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.
The performance data for various Commodity Trading Advisor (“CTA”) and Commodity Pools are compiled from various sources, including Barclay Hedge, 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.
The mention of general asset class performance (i.e. managed futures did well, stocks were down, bonds were up) is based on RCM’s direct experience in those asset classes, estimates of performance of dozens of CTAs followed by RCM, and averaging of various indices designed to track said asset classes.
The mention of market based performance (i.e. Corn was up 5% today) reflects all available information as of the time and date of the publication.
The owner of this blog, RCM Alternatives, may receive various forms of compensation from certain investment managers highlighted and/or mentioned within the blog, including but not limited to retaining: a portion of trade commissions, a portion of the fees charged to investors by the investment managers, a portion of the fees for operating a fund for the investment managers via affiliate Attain Portfolio Advisors, or via direct payment for marketing services.
Managed Futures Disclaimer:
Past Performance is Not Necessarily Indicative of Future Results. The regulations of the CFTC require that prospective clients of a managed futures program (CTA) receive a disclosure document when they are solicited to enter into an agreement whereby the CTA will direct or guide the client’s commodity interest trading and that certain risk factors be highlighted. The disclosure document contains a complete description of the principal risk factors and each fee to be charged to your account by the CTA.
See the full terms of use and risk disclaimer here.
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