YTD Asset Scoreboard
How are asset classes looking Year To Date? Both U.S. Stocks and World Stocks surged in September to remain at the top of the scoreboard. Meanwhile, Managed Futures continues to slip lower in the rankings, Elsewhere, buying and holding Commodities isn’t fairing well; with September’s numbers bringing it back into the red, while real estate (at least by our measure) remains down for the year.
Chart of the Week: Does the Government Shutdown Cause a Market Scare?
With the a compromise on the government shutdown far from over, the question of everyone’s mind from and investment standpoint is, will the stock market take a hit? The natural conclusion could be that investors will pull out their money based on uncertainty of when a compromise will be made. But is that the truth or just the perception based on past shutdowns? Here’s a look at S&P 500 returns after every shutdown dating back to the 1970’s.
Managed Futures Down -0.74% in September; time to Clap if you believe!
Managed Futures is running out of time to turn things around in 2013. Things were looking up halfway through September, but after the fed announcement not to taper, things went downhill from there. We’re starting to feel a little like Cathy Rigby in a Peter Pan play, urging people to ‘Clap if You Believe’ to resurrect good ol’ TinkerBell. But we don’t need the magic of children to resurrect managed futures. We just need some directional volatility to appear.
YTD Asset Class Scoreboard:
We’ve expanded our monthly post on asset class scoreboard for August YTD, adding the monthly change, and a nice chart. Read ‘em and rejoice/weep, depending on your asset allocation:
What Everybody Ought to Know About Managed Futures Asset Class Growth
The managed futures industry prides itself whenever assets under management is brought into the discussion. It’s grown exponentially over the years (past performance is not necessarily indicative to future results), but as we’ve pointed out before, that total AUM number includes the largest Hedge Fund in the world — Bridgewater — which we don’t consider to part of the group. This suggests that this AUM number can be quite deceiving, so we decided to recreate total AUM without the growth from Bridgewater, and managed futures’ largest program, Winton. Plus, a look at the managed futures quarterly growth numbers and why it might be just what managed futures is looking for.
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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