Newsletter: Is Managed Futures an Asset Class?
A few weeks ago we posted on Mack Frankfurter of Cervino Capital’s recent discussion of managed futures and whether or not it is an asset class. Mack argues that it is not, resting his case on the logical fallacies prevalent on the other side of the debate. When considering why managed futures were often described as an asset class, […]
We estimate managed futures up 2.05% in April
Based on preliminary data from the Newedge CTA Index and the performance of the CTAs we track here at Attain, we are estimating managed futures posted gains of 2.05% in the month of April. Looking at the CTAs we track, the boost seems to have come from multi-market systematic programs, which had a fantastic month […]
Who needs a managed futures broker? YOU.
We recently had a potential client ask us some very pointed questions. “You put all this information on your website about the different CTAs out there,” he said. “Why should I work with you? What’s stopping me from just making the investments on my own?” It’s a fair question, and we’re sure this client is […]
Mary, Mary, Quite Contrary… Can Contrarian Investing Strategies Grow Returns?
The market analysis blog Jesse’s Café Americain put up a post last week talking about how contrarian investment strategies have been excessively relied on in recent times, arguing that people have begun to exclude common sense from their investing in the spirit of the strategy. Given the criticism, we thought it might be a good […]
Weekend Reads
As the week draws to a close, the markets continue to wonder just what this S&P Downgrade will actually mean for the U.S. economy. With no easy answers in sight and a holiday weekend kicking off today, we suggest you simply keep your mind amused with the following pieces: Is a declining dollar the “new normal”? […]
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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