Managed futures continued their choppy performance in 2009, losing 0.87 per cent in June, according to the Barclay CTA Index compiled by BarclayHedge.
Managed futures continued their choppy performance in 2009, losing 0.87 per cent in June, according to the Barclay CTA Index compiled by BarclayHedge.
‘The month began with a wave of optimism based on reported sightings of economic ‘green shoots’ in early June,’ says Sol Waksman, founder and president of BarclayHedge. ‘By month’s end however, investor doubts had resurfaced and the gains from rallies earlier in the month had turned to losses.’
The Diversified Traders Index fell 1.89 per cent in June, Systemic Traders lost 1.15 per cent, Discretionary Traders were down 1.15 per cent, and Financial and Metals Traders lost 0.74 per cent.
‘Although month-end closing prices in many of the major futures markets weren’t much changed from May’s close, intra-month volatility created losses among both buyers and sellers,’ says Waksman. ‘The CRB commodity index lost just one per cent in June, but to get there it ran up five percent early in the month only to drop six per cent by the end.’
Only one of Barclay’s eight CTA indexes had a positive return in June. The Agricultural Traders Index rose 1.56 per cent.
The Barclay Discretionary Traders Index has gained 3.19 per cent in the first six months of 2009, and Agricultural Traders are up 2.64 per cent year to date.
Through June, Systemic Traders have lost 3.23 per cent and Diversified Traders are down 3.04 per cent in 2009. The Barclay CTA Index has lost 0.80 per cent after six months.
The Barclay BTOP50 Index, which monitors performance of the largest traders, fell 1.62 per cent in June, and is down 3.83 per cent year to date.
