CTA funds posted a 1.59 per cent return in June, according to the Barclay CTA Index compiled by BarclayHedge. Year-to-date, the Index has gained 3.84 per cent through June.
“Recession fears coupled with market anticipation of Fed loosening rallied prices for long-term bonds and short-term notes while gold prices rose to a six-year high,” says Sol Waksman (pictured), president of BarclayHedge. “Equity investors seemed to ignore recession concerns and focused on the benefits of a rate cut, propelling the S&P 500 7 per cent higher on the month.”
Nearly all CTA fund sectors posted positive returns in June, the lone exception being the Agricultural Traders Index which was down 0.93 per cent. All sectors remained in the black for the year-to-date through June.
“While most CTA sectors performed well in June, the Ag sector struggled with choppy grain markets and steep price declines for hogs and cattle,” Waksman says.
Setting the pace for the month’s gainers was the Cryptocurrency Traders Index, up 17.60 per cent in June. Others included the MPI Barclay Elite Systematic Traders Index, up 2.66 per cent, the Diversified Traders Index, with a 2.05 per cent return in June, the Financial/Metal Traders Index, gaining 1.90 per cent for the month, and the Systematic Traders Index, up 1.97 per cent.
The Cryptocurrency Traders Index continues to lead the way for year-to-date return, gaining 84.83 per cent for the year through the end of June. The MPI Barclay Elite Systematic Traders Index was up 5.64 per cent for the year through June, the Diversified Traders Index posted a 3.70 per cent year-to-date return, the Systematic Traders Index was up 3.52 per cent on the year, and the Financial/Metals Traders Index gained 3.10 per cent through June.
The Barclay BTOP50 Index, which tracks the performance of the largest CTAs that are still open for new investment, has gained 5.30 per cent in the first six months of the year.
