Managed futures traders gained 0.37 per cent in July, according to the Barclay CTA Index compiled by BarclayHedge.
The index is up 2.12 per cent year to date.
“July’s global equity rally proved to be the major source of profits for many CTA portfolios,” says Sol Waksman (pictured), founder and president of BarclayHedge.
Five of Barclay’s eight CTA indices had positive returns in July. The Diversified Traders Index gained 0.73 per cent, Systematic Traders were up 0.50 per cent, and Financial/Metals Traders gained 0.24 per cent.
“On the commodity side, long precious metals and short energy positions were profitable, but overall profits were eaten up by losses in the agricultural markets,” says Waksman.
The Agricultural Traders Index was down 0.88 per cent in July, Currency Traders lost 0.60 per cent, and Discretionary Traders gave up 0.51 per cent.
“Currency traders were positioned for continued strength in the US Dollar, but were caught out in July as the Dollar weakened against the Euro, Swiss Franc and the Chinese Yuan,” says Waksman.
Year to date, the Financial/Metals Traders Index is up 3.09 per cent, Diversified Traders have gained 2.91 per cent, Systematic Traders are up 2.77 per cent, and Currency Traders have gained 1.57 per cent.
At the end of seven months, Agricultural Traders are down 1.65 per cent, and the Discretionary Traders Index has lost 1.34 per cent.
The Barclay BTOP50 Index, which measures performance of the largest CTAs, gained 1.46 per cent in July.
