Drawdowns are part of investing, as are letters from managers reassuring investors to stick through the rough patch. Covenant Capital Management recently released just such a letter, but included a unique look at their history that caught our eye.
Category: Managed Futures
15
May
2012
Risk vs. Return for the NBA and CTAs
The Freakonomics blog recently compared NBA players based on their shooting efficiency, a comparison that brings to mind our own efforts to highlight risk-adjusted returns in our CTA rankings. Just how do they stack up? Read on to find out.
14
May
2012
Bonds Fake Out Managed Futures Again…
Managed futures love bonds, and many programs have been jumping on every recent dip in bond prices, hoping it will be the start of a sustained trend downward. Unfortunately, the recent quick reversals have left them striking out, but there’s good reason to keep swinging for the fences.
08
May
2012
Morningstar Mutual Fund Categorization- Really?
It’s no secret that we’re not fans of managed futures mutual funds, but even we were surprised by the answer Morningstar gave us when we asked a simple question: “What makes a managed futures mutual fund?”
08
May
2012
Newsletter: Why NOT Alternatives?
If you follow the blog, you know by now that we’re doing a sort of celebration of alternatives throughout this week, so it only made sense to have a newsletter that stayed in the same vein. We initially set out to celebrate Registered Investment Advisers (RIAs) who were bringing their clients alternatives- particularly managed futures. However, as we journeyed through the interviews for the piece, a more valuable story emerged: the tale of how the RIAs got to a point where they wanted to offer alternatives- and managed futures, in particular- at all.
03
May
2012
Managed Futures Mutual Funds April Update
We’ve made our objections to managed futures mutual funds clear in the past. Now we’re keeping an eye on the performance numbers – and with April’s results in, it isn’t pretty.
01
May
2012
Managed Futures Finish April Down -0.06%
April has drawn to a close, and it shaped up to be a month of flat returns for traditional managed futures programs. What happened? We look at the trends (and lack thereof) that shaped this month’s managed futures performance.
25
Apr
2012
Is Trend Following Back?
We feel like we spent the bulk of the first quarter writing about how managed futures was lusting after a solid trending environment, and how bad some of the trend reversals were in 2011. How delightful it is, then, to be able to change things up a little bit. Some of the trend following managers we track finally seem to be finding their groove again.
19
Apr
2012
If this is what advisers care about, why not managed futures?
A piece in the current issue of the Journal of Financial Planning entitled “Investigating Alternative Investments” does a great job of taking a look at the many complex facets an investment adviser should be considering as they guide their clients through the investing process. But looking at the criteria for alternative investments left us wondering – isn’t managed futures just what they’re looking for?
02
Apr
2012
Managed Futures Finish March Down -1.83%
Another month in 2012 is on the books, so it’s time we take a look at managed futures performance so far this year. Despite stocks soaring to new highs, recent weeks have not been kind to the asset class. We take a look at the performance numbers and break down what’s driving these lower returns.
