Asset Class Scoreboard- May 2012
After a rough start to the year, May finally brought market conditions more favorable to managed futures. After a month that was hard on just about everything not named “bonds,” we’re looking at a decidedly different asset class scoreboard.
Weekend Reads
While the big market sell-off was not what some were looking for, it suited us (and managed futures) just fine. Whether you’re mourning or celebrating, we’ve got just the thing to cap off your week: our weekend reads.
Managed Futures end May up 2.93%
At last, our long wait for a trading environment kinder to managed futures has been rewarded. While the big May sell-off was probably not what many investors were looking for, the strong trends in multiple markets were exactly what managed futures has been needing.
The End of Commodity Financialisation? Think Again
As we watch the markets plummet today, we’re not too concerned (the benefit of being in an industry that can profit in a down market). But the pain for some has raised the question of whether commodity financialisation is on its way out. We don’t think so- at least for those doing it the right way.
Long-only Commodity ETFs vs. Futures- May 2012
Time for our monthly look at how the long only commodity ETFs are performing versus simply holding the December futures contract and rolling annually. This month was brutal for most of the commodities markets, but which loser lost the least? futures contracts or ETFs?
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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