Sadly, we must add 2012 to the list of poor managed futures years. The question is – what’s next? What was wrong in the last year, and what does 2013 hold? Will the conditions of 2012 persist in the new year, reverse course, or yield to different conditions?
Category: Managed Futures
16
Jan
2013
15
Jan
2013
The Greener Grass of Ag Traders
We’ve talked a lot about the good performance of Agriculture Traders last year, and with the 2012 numbers nearly all in, we couldn’t help but compare the Ag numbers to the rest of the managed futures world. Ag traders have a performance profile all their own, as one look at the data makes clear.
11
Jan
2013
It’s All About Context
One of the most common questions we hear is about the fees charged in the managed futures world. For many there can be a fixation on how much an investment “costs,” without contextualization of the investment’s performance and role in a portfolio. So when we see someone in the traditional space bemoaning this mindset, we breathe a sigh of relief, knowing that there are people out there who get it.
08
Jan
2013
Managed Futures Mutual Funds 2012 Performance
It’s been almost a year since we expanded our look at managed futures mutual funds to consider the new entrants into the space, and now we have a year’s worth of data to test our hypothesis that these funds would, in aggregate, underperform the broader managed futures indices. So far, we’ve been right.
27
Dec
2012
Mythbusting Fundbusters
It’s been interesting to sift through all the different theories being floated about why managed futures is where it is today, but none have made us laugh quite as hard as this one: that academic researchers and bloggers are killing the traders’ edge by publishing their methods.
17
Dec
2012
Hoping for a Hot December
It may have been the hottest year on record outside, but the same cannot be said for manage futures. CTA performance has been chilly for most of the year, but as we head into the final weeks of 2012 some programs appear to be heating up. Is this the hot streak we’ve been waiting for?
13
Dec
2012
Will Managed Futures be the Next Asian Sensation?
A few months back we took notice when Winton led the pack on bringing managed futures to China – they were the first CTA to move into the market, which up until recently was blocked by Chinese laws. Winton may have been first, but it doesn’t look they’re going to be alone for long.
10
Dec
2012
100 Years of Trend Following
When it comes to evaluating the past performance of managed futures, the major indices only go back a few decades. But AQR Capital Management recently released a research paper that goes back much further, applying a trend following model to more than 100 years of data – and their efforts have yielded some fascinating insights.
07
Dec
2012
Managed Futures Mutual Funds November Update
November’s results are in, so it’s time for us to update our look at the world of the so-called managed futures mutual funds. Once again, the results aren’t pretty (for the mutual funds). We don’t think mutual funds are the best vehicle to access the managed futures asset class, and the numbers continue to back us up.
04
Dec
2012
Managed Futures end November Down -0.21%
Sad to say it was another lackluster month for managed futures, with the Newedge CTA Index reporting managed futures down -0.21% for the month. With just one month left in 2012, it’s unlikely we’ll see enough of a turnaround to put managed futures back into the green for the year. We’re obviously disappointed, but it’s all part of being a managed futures investor.
