In a month where the tip-top managers like Winton post its worst month since 2008 (-4%) and AQR’s Managed Futures Managed Futures Fund was down -3.21%, it isn’t shocking that the 4 Managed Futures indices we track were down an average -2.03% in April {Past performance is not necessarily indicative of future results}.
Some of this might be attested to the rally in crude when many managers were still short, or not in the market at all. Metals remained choppy while there were trend reversals in long bond and long dollar / short foreign currency trends. These trend reversals might actually create new opportunities for trend followers in the future if they persist. That’s the true question. Will crude move back to 100? Will bonds continue to fall, and will the U.S. Dollar rebound or return to the 80 range? Only time will tell. We just hope any of these trends stay long enough for Managed Futures strategies to capture them.
(Disclaimer: Past performance is not necessarily indicative of future results)
(Barclayhedge CTA Index: 34% of funds reporting)
P.S. –Attain’s Family of Alternative Funds performance will be posted shortly. To get monthly performance and research updates on the family of funds, sign up here.
