The managed futures industry slipped to a monthly loss in July, down -0.64% according to the Barclay CTA Index, compiled by BarclayHedge. Despite the fall, CTAs remain in positive territory for the year, up 7.68%. CTAs had posted gains in six of the prior seven months.
Most but not all CTA subsectors were in the red for July. The Currency Traders Index picked up +33 basis points and the Discretionary Traders Index came in just above neutral with a 0.04% result. Following a second quarter of heavy losses the Cryptocurrency Traders Index regained some of its mojo in July, bouncing back 22.92%.
Subsectors posting monthly losses were led by the MPI Barclay Elite Systematic Traders Index which shed -2.30% in July. Behind it the Diversified Traders Index fell -1.13%; the Agricultural Traders Index lost -0.98%; the Systematic Traders Index retreated -0.90%; and the Financial & Metal Traders Index gave up -0.40%.
With the exception of the Cryptocurrency Traders Index, all CTA subsectors have reaped year-to-date gains through July. Chief among them has been the MPI Barclay Elite Systematic Traders Index, which has returned 14.31% so far in 2022. The Diversified Traders Index has also enjoyed mostly robust performance this year and is up 11.32%. Both the Discretionary Traders Index and the Systematic Traders Index have fared well, returning 9.11% and 8.49% respectively. he sometimes-sleepy Currency Traders Index is up 6.07% thus far and on a pace to have a record year.
The Cryptocurrency Traders Index still sits in a fairly deep hole for the year-to-date interval, despite its burst of performance in July. It remains -29.48% in the red for 2022.
The Barclay BTOP50 Index, which tracks the performance of the largest CTAs open for new investment, was down -3.13% in July. For the year to date the BTOP50 has returned 12.24%.
