April has drawn to a close, and it shaped up to be a month of flat returns for traditional managed futures programs, with the Newedge CTA index* reporting managed futures down -0.06%. Market selection played a big role in whether or a program made money this month. Traders who took advantage of trends in grains and European bonds did well. Lack of sustained trends in major markets (metals, stock index, and currency) made life difficult for the rest. For example, Clarke Capital had a great month while Covenant continued to struggle. Both managers are trend followers, but Covenant had broader sector exposure and more exposure to choppy conditions.
Short term traders continue to struggle as well due to a lack of follow-through and market reversals across many sectors. Short term traders were down an estimated -2.50% for the month.
Short option, specialty, and discretionary traders performed well in April justifying their diversification potential in a portfolio of trend following strategies. Stand out performers included Global Ag +11.40%, Paskewitz Contrarian 3X Stock Index +3.50%, and Quantum Leap Capital +3.60%. (DISCLAIMER: PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.)
The performance data displayed herein is compiled from various sources, including BarclayHedge, and reports directly from the advisors. These performance figures should not be relied on independent of the individual advisor's disclosure document, which has important information regarding the method of calculation used, whether or not the performance includes proprietary results, and other important footnotes on the advisor's track record.
Benchmark index performance is for the constituents of that index only, and does not represent the entire universe of possible investments within that asset class. And further, that there can be limitations and biases to indices such as survivorship, self reporting, and instant history.
Managed futures accounts can subject to substantial charges for management and advisory fees. The numbers within this website include all such fees, but it may be necessary for those accounts that are subject to these charges to make substantial trading profits in the future to avoid depletion or exhaustion of their assets.
Investors interested in investing with a managed futures program (excepting those programs which are offered exclusively to qualified eligible persons as that term is defined by CFTC regulation 4.7) will be required to receive and sign off on a disclosure document in compliance with certain CFT rules The disclosure documents contains a complete description of the principal risk factors and each fee to be charged to your account by the CTA, as well as the composite performance of accounts under the CTA's management over at least the most recent five years. Investor interested in investing in any of the programs on this website are urged to carefully read these disclosure documents, including, but not limited to the performance information, before investing in any such programs.
Those investors who are qualified eligible persons as that term is defined by CFTC regulation 4.7 and interested in investing in a program exempt from having to provide a disclosure document and considered by the regulations to be sophisticated enough to understand the risks and be able to interpret the accuracy and completeness of any performance information on their own.
RCM receives a portion of the commodity brokerage commissions you pay in connection with your futures trading and/or a portion of the interest income (if any) earned on an account's assets. The listed manager may also pay RCM a portion of the fees they receive from accounts introduced to them by RCM.