Another month is on the books, so it’s time to update our look at 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 if you have the capital to stand on your own and invest in individually managed accounts, and the numbers continue to back us up.
Category: Managed Futures
07
Sep
2012
05
Sep
2012
Managed Futures and High Frequency Trading
High Frequency Trading has taken the spotlight as one the most-maligned practices on Wall Street, and from time to time, people ask us what we think about all the hullaballoo. Truth is, we don’t really have much of a dog in this fight. While managed futures and HFT both use algorithms, that’s where the similarity ends.
04
Sep
2012
Managed Futures end August down -1.29%
The sideways, range-bound market behavior in August was not what most managed futures programs were looking for, and the month’s performance was less than stellar as a result. Not every market spent the month stuck in a rut, but it was enough to leave the Newedge CTA Index reporting a loss for the month.
16
Aug
2012
On Size, Luck, and CTA Returns
There’s been plenty of press around Nassim Taleb’s new short paper, especially his claim that new entrants into the money management space would be better off looking elsewhere. We’re big Taleb fans, and there’s certainly something to be said for his argument, but we’re not so sure Taleb’s argument applies to managed futures.
02
Aug
2012
Managed Futures Mutual Funds July Update
With July now in the books, it’s time to update our monthly look at managed futures mutual funds. We don’t think mutual funds are the best vehicle to access the managed futures asset class if you have the capital to stand on your own and invest in individually managed accounts, and the numbers continue to back us up.
01
Aug
2012
Managed Futures end July up 2.91%
To say that July was a stressful month would be an understatement. However, despite the frustration this month has brought, there is at least one silver lining: managed futures performance.
31
Jul
2012
Attain Capital’s Semi-Annual CTA Rankings
It’s that time of year again, when we have the data for all of the CTAs we track through the first half of 2012, allowing us to try and answer the question we get on a daily basis: What’s your BEST managed futures program? That question is always a tricky one, as depending on who is asking it, they may want to know any one of several variations on who is best. Best last year? Best for all time? Best risk adjusted return? Best in terms of lowest drawdowns? We believe the formula we’ve crafted is one of the most comprehensive in the industry.
25
Jul
2012
Blame the Short Sellers? Here We Go Again…
Speculators are often the scapegoats during poor market conditions. The impulse makes sense, in a misdirected and ill-informed sort of way, but it doesn’t make these attacks any more legitimate.
24
Jul
2012
CTAs Step Up to the Plate
In a perfect world, the industry would have stepped up to the plate by now to make PFGBest clients whole, but without such action, individual players are doing what they can to try to help investors. Take, for instance, TYL Trading and their decision to temporarily scrap their incentive fee.
23
Jul
2012
Institutional Investors Learn Commodity Index Shortcomings the Hard Way
We’re vocal critics of long-only commodity investment strategies. Now it appears that CalPERS is discovering firsthand why we prefer a strategy that has the potential to profit no matter which direction prices are going.
