Attain Capital’s Semi-Annual CTA Rankings
It’s that time of year again, when we have the data for all of the CTAs we track through the first half of 2012, allowing us to try and answer the question we get on a daily basis: What’s your BEST managed futures program? That question is always a tricky one, as depending on who is asking it, they may want to know any one of several variations on who is best. Best last year? Best for all time? Best risk adjusted return? Best in terms of lowest drawdowns? We believe the formula we’ve crafted is one of the most comprehensive in the industry.
PFGBest Update: Time to Turn Up the Heat
While the industry has rallied in the wake of the PFGBest scandal, calling for a wide breadth of reforms, a more pressing matter must be addressed today. The customer segregated funds held by PFGBest at Jefferies, and confirmed as valid and on deposit by Jefferies, must be released to the firm’s former clients.
Weekend Reads
CNBC’s Rick Santelli goes after CFTC Commissioner O’Malia, commodity prices make for some pricey Olympic medals, and tales of strychnine and Olympics past – these are our weekend reads.
Crowning Market Volatility Champs?
A while back we took note of the recent larger moves in natural gas prices, wondering whether the commodity was reclaiming the title of “widowmaker.” But yesterday, looking at cocoa up over 4% at one point, it looked like natural gas might have some competition for the title. But we had to wonder: where do the markets stack up against one another in terms of volatility?
The Machines Take Over: Farewell to the Pits?
Remember that one time last year when we talked about how the pits might be dying? Well, it looks like we’re only a couple of nails away from burying this coffin.
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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