Barclay CTA Index up 0.32 per cent in March

Managed futures funds turned in a second consecutive monthly gain in March returning 0.32 per cent, according to the Barclay CTA Index, compiled by BarclayHedge, a division of Backstop Solutions. 

For the year to date, CTAs returned 2.29 per cent through March.

“A strengthening US dollar and a continuing uptrend in equity markets helped fuel CTA gains in March. The USD1.9 trillion Covid Relief bill fed deficit concerns and ignited a rise in US interest rates which, in turn, sparked appeal in USD carry trades against negative yielding currencies,” says Sol Waksman, president of BarclayHedge.

All but two of the sectors tracked in the Barclay CTA Indices were in positive territory for March. The Cryptocurrency Traders Index led the way for the month, returning 10.95 per cent. Other notable March gainers included the MPI Barclay Elite Systematic Traders Index, up 1.10 per cent, the Financial & Metal Traders Index, returning 0.43 per cent, the Agricultural Traders Index, advancing 0.42 per cent, and the Systematic Traders Index, gaining 0.41 per cent.

The Discretionary Traders Index, which slipped 0.08 per cent, was the only index in the loss column for the month.

For the first quarter of the year, the Cryptocurrency Traders Index set the pace, up 94.41 per cent. The Diversified Traders Index gained 3.68 per cent, the MPI Barclay Elite Systematic Traders Index was up 2.94 per cent, the Discretionary Traders Index gained 2.74 per cent and the Agricultural Traders Index advanced 2.22 per cent.

Two sectors were in the red for Q1. The Currency Traders Index was down 0.15 per cent while the Financial & Metal Traders Index was off 0.05 per cent.

The Barclay BTOP50 Index, which tracks the performance of the largest CTAs that are open for new investment, was up 0.83 per cent in March and advanced 2.68 per cent in Q1.