Via Attain Capital
One of the trickier aspects of Managed Futures is understanding where the returns are coming from, simply because there are 100s of commodities out there to trade. “Commodities” don’t all move together, and neither do all managed futures managers out there.
For example, some trend followers out there that we follow actually struggled in a month where Managed Futures as a whole went back above the black this month with an average monthly performance of 2.10% {Past performance is not necessarily indicative of future results}. How can that be?
Well some managers went into long positions in grains that ended up contracting from its earlier month breakout, while some managers were able to capitalize on the long U.S. dollar, and short Crude, and short Gold moves. The difference is the break outs didn’t happen for those that were looking for new ones, and the trends that have been going on for months (long U.S. Dollar, short Crude, and short Gold) continued.
Entering August, Managed Futures is up 0.18% on the year {Past performance is not necessarily indicative of future results}.
(Disclaimer: Past performance is not necessarily indicative of future results)
Barclayhedge CTA Index: 27% of funds reporting
P.S. –Attain’s Family of Alternative Funds performance will be posted shortly. To get the monthly performance and research updates on the family of funds, sign up here.
