Managed Futures November Performance

Managed Futures had it best month since January, posting +2.39% in November to bring the YTD performance to +1.15% {Disclaimer: Past performance is not necessarily indicative of future results}. Most of the managers we follow were able to make gains on the long U.S. Dollar / Short foreign currencies trend, as well as short positions in metals and long positions in softs.

The gains in Nov. represent the 6th straight month of alternating performance for the asset class (loss, gain, loss, gain, loss, gain), in what has become a bit of a one step forward, one step back type of year.

Managed Futures November Performance(Disclaimer: past performance is not necessarily indicative of future results)
(Barclayhedge CTA Index Reporting 67% of returns)

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PS – we’d be remiss if didn’t mention December has started out rather poorly for managed futures, with the aforementioned long US Dollar trade unwinding rather rapidly.  For those paying attention to the currency markets as of late would know that the Euro had the second biggest move up since the ECB cut rates, via John Authers of the FT, with the U.S. Dollar Index having lost roughly -2.5% to start off December, catching many managed futures managers on the wrong side of the trade. Luckily, there’s still an entire month left to make up for it (including the possible Fed rate hike).

 

When the dust settled, it was the 2nd biggest rise for the euro ever. After the ECB cut rates. Expectations matter. pic.twitter.com/FlrB71gFQa

— John Authers (@johnauthers) December 3, 2015