Managed Futures Asset Flows = Thanks Bridgewater
We were skeptically optimistic today when we looked at the asset flow report from Barclayhedge, which showed the best inflows for managed futures in over 8 months, gaining $1.2 billion to rank 6th of 16 hedge funds categories behind Multi-Strategy, Fixed Income, Event Driven, Distressed Securities (where are those recently?), and Emerging Markets. The ‘alleged’ inflow comes after $600 Million in March, and $8.6 Billion (2.5% of assets) over the past 12 months, according the Barclayhedge.
Get Ready to Be Long Crude Oil
While not exactly earth shattering news today, more than a few people are commenting on the $1.50 to $2.00 move in Crude Oil today. Perhaps it is due to the rather boring movement across markets of all shapes and sizes… and any sort of spike, no matter how small is news worthy. Or perhaps it is the corresponding news that Islamic militants have taken a 2nd Iraqi city in as many days.
The Headlines of the Alternative Space
Performance: CTAs should not be written off – (COO Connect) Man Group’s M&A Strategy May Boost Scale, Diversification – (Reuters) Education: The 1256 Contract explained – (Forbes) Futures Trading on Tax Day – (Attain Capital) Index Pulse – a new market blog with commentary, video and educational resources covering the futures and commodities markets every […]
Natural Gas ETFs – Heads You Lose, Tails You Lose More:
We did our monthly look at how various commodity ETFs track the futures markets they’re designed to follow recently, and found a rather interesting data point in Natural Gas. So why is UNG suddenly outperforming the December futures strategy? You guessed it… Natural Gas has moved ever so slightly into Backwardation
The Commodity Performance Scoreboard
Here’s our monthly look at the various commodity ETFs and how they track a simple strategy of buying December futures and rolling them annually. Plus, a comparison to Ag Traders and an overall commodity index. C’mon futures…
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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