Managed futures traders lost 1.60 per cent in August according to the Barclay CTA Index compiled by BarclayHedge. The Index is down 1.08 per cent year to date.
“A global retreat from risk assets precipitated by China’s unexpected announcement of a currency devaluation weighed heavily on prices for commodities, equities, and Asian currencies,” says Sol Waksman (pictured), founder and president of BarclayHedge.
Six of Barclay’s eight CTA indices had losses in August. The Diversified Traders Index was down 1.69 per cent, Systematic Traders lost 1.33 per cent, Financial/Metals Traders were down 0.68 per cent, while the Discretionary Traders Index slipped 0.22 per cent.
“Crude oil prices, which had declined 35 percent since the beginning of July, rose 29 percent during the last five trading days in August, wreaking havoc upon systematic traders,” says Waksman.
On the positive side, Currency Traders gained 0.54 per cent in August, and Agricultural Traders were up 0.35 per cent.
At the end of August, Currency Traders are up 3.44 per cent in 2015, Financial/Metals Traders have gained 2.11 per cent, and Discretionary Traders have added 0.26 per cent.
The Diversified Traders Index has lost 3.24 per cent year to date, and Systematic Traders are down 1.82 per cent.
The Barclay BTOP50 Index, which measures performance of the largest CTAs, lost 1.81 per cent in August, following a 2.45 per cent gain in July. The BTOP50 Index is currently down 2.59 per cent for the year.
