Mutual Fund Performance: July 2022
July provided a relief rally for the still-correlated stocks and bonds much to the chagrin of doomsday prophets. Volatility fell most every day of the month providing a good test for long volatility strategies. Commodity markets were mixed in performance and choppy, lacking a coherent theme (Natural Gas the notable exception). This proves difficult for […]
May Mutual Fund Performance
May felt like a maelstrom in the moment but produced forgetful market activity. Equities continued their fall from grace, yet volatility remained muted which created a difficult environment for some VOL strategies. US bonds spent most of the month in a relief rally only to produce flat returns. Commodities were a mixed bag with grains […]
April Mutual Fund Performance
April was the worst month for equities since March 2020, with the S&P down -8.9% month over month. Thankfully there’s bonds to fall back on right? For those living under an igneous formation, the inflation-Fed theme continues to provoke selling in equities and a tightening of credit (pushing bond prices down). As elsewhere reported, this is […]
March Mutual Fund Flows
Assets generally flowed into alternative-focused funds in March. The world started to digest the idea that Russia’s war with Ukraine wouldn’t be over quickly. On the home front, the Fed maintained its hawkish tone. While equities prices rose, more money wants to incorporate some kinds of diversification. The mutual funds below reflect that appetite, with […]
MF Mutual Fund Performance – March
Beware the ides of March. This past month showed madness in more than one way. Markets began to internalize the ramifications of the ongoing tragedy in Ukraine amidst the backdrop of inflation in the west. Despite much uncertainty, market volatility generally declined for the later 2/3rd of the month. Equity prices rallied hard. Commodities, which […]
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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