Asset Class Scoreboard: April 2022
Look who’s on TOP !! It’s been a while…so we’ll thank you for the courtesy of a small victory lap. And boy, is this time different. Managed futures typically does well in market crisis periods when all risk assets correlate, sending markets like energies, grains, and metals lower alongside stocks, all with a nice kicker […]
The Glory Days, Market Making & Trading Options at the CBOE with Noel Smith of Convex AM
This week, we’re painting the picture of what life on Chicago’s option trading floors was like at the CBOE…but there’s a catch — we put it all on the table and needed two episodes! Today’s guest came into asset management in a round-about way – trading his own money for decades before venturing into the […]
VOLATILITY JEDI TRAINING IS TRULY NEVER DONE…
May the Fourth is a special day for Star Wars fans to unite worldwide and celebrate the franchise’s movies, series, video games, comics, and all other aspects of the iconic science fiction universe created in 1977 by filmmaker George Lucas. *cues the Star Wars anthem* One may not believe that Investing and Star Wars go […]
Trend Following, Signal Deterioration, & Crypto Modelling With Quant Artur Sepp
This week, we’re adding another stamp to our Derivative passport and traveling to Zurich, Switzerland, as we talk to the Head of Systematic Solutions and Portfolio Construction at Sygnum Bank’s Asset Management, Artur Sepp @ArturSepp — who specializes in crypto-assets and decentralized finance. Artur has led quantitative research at systematic trend-following hedge fund Quantica Capital, focusing […]
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 […]
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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