Opalesque Futures Briefing http://www.opalesque.com/Futures_Briefing Futures Briefing Mon, 08 Feb 2016 00:36:16 +0000 http://wordpress.org/?v=2.7.1 en hourly 1 Managed Futures Lead Early In 2016 http://www.opalesque.com/Futures_Briefing/?p=12366 http://www.opalesque.com/Futures_Briefing/?p=12366#comments Mon, 08 Feb 2016 00:36:16 +0000 shailaja http://www.opalesque.com/Futures_Briefing/?p=12366 The Credit Suisse CTA / Futures index is up 2.9% year to date as one proxy while the HSBC managed futures systematic / global category is up 4.06%. That’s not to say the strategy is perfect, but it is to say certain algorithmic strategies are correlating with their expected market environments.
Understanding why this phenomena occurs and recognizing the “beta market…

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Demystifying Managed Futures Funds http://www.opalesque.com/Futures_Briefing/?p=12364 http://www.opalesque.com/Futures_Briefing/?p=12364#comments Mon, 08 Feb 2016 00:35:46 +0000 shailaja http://www.opalesque.com/Futures_Briefing/?p=12364 Managed Futures funds are not new in the world of investment - they already exist for more than 60 years (since 1949), and they grow rapidly since the 1970s when futures exchanges widened their selection of tradable contracts.
To be specific, the assets under management in CTA (Commodity Trading Advisors) industry reached almost 330 billion in 2015, while in 2008…

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Managed Futures – The January 2016 Litmus Test http://www.opalesque.com/Futures_Briefing/?p=12362 http://www.opalesque.com/Futures_Briefing/?p=12362#comments Mon, 08 Feb 2016 00:35:32 +0000 shailaja http://www.opalesque.com/Futures_Briefing/?p=12362 Hello 2016! Well that was a lot of fun, wasn’t it. The worst ever opening weeks for the US stock market, continued carnage in commodities, and some Bank of Japan action just to top things off. While most investors will be a little scared to open their January statements, Managed Futures performed just as we expect them to in a…

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Credit Suisse Managed Futures Liquid Index Up 3.31% in January http://www.opalesque.com/Futures_Briefing/?p=12360 http://www.opalesque.com/Futures_Briefing/?p=12360#comments Mon, 08 Feb 2016 00:35:03 +0000 shailaja http://www.opalesque.com/Futures_Briefing/?p=12360 The Credit Suisse Liquid Alternative Beta Index (CSLAB), which aims to reflect the performance of the global hedge fund industry, finished down 1.42% in January. The Managed Futures strategy was the strongest performer for the month, and finished up 3.31% in January.
The other three strategies that make up the CSLAB were all down with Long/Short recording the biggest decrease of…

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Managed Futures 2016 Outlook http://www.opalesque.com/Futures_Briefing/?p=12358 http://www.opalesque.com/Futures_Briefing/?p=12358#comments Mon, 08 Feb 2016 00:34:48 +0000 shailaja http://www.opalesque.com/Futures_Briefing/?p=12358 Maybe we should take a while to write up our 2016 review every year, as the weeks it’s taken us to analyze how 2015 played out and what 2016 might look like have seen managed futures do quite well, thank you. We were half tempted to just say the 2016 outlook is – more of this:
But, alas… we can’t forecast…

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The CTA is a hit in January http://www.opalesque.com/Futures_Briefing/?p=12355 http://www.opalesque.com/Futures_Briefing/?p=12355#comments Mon, 08 Feb 2016 00:34:11 +0000 shailaja http://www.opalesque.com/Futures_Briefing/?p=12355 The performance of CTA in the final collapse of the market is remarkable. It stressed that the power of diversification strategy in a portfolio remains intact. These recent developments provide further evidence that managed futures often outperform traditional long-only investment and hedge fund strategies at dislocations market and macroeconomic events.
Nevertheless, over the long term, the strategy often gets a…

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Morgan Stanley Upgraded to Outperform With $33 PT at Macquarie http://www.opalesque.com/Futures_Briefing/?p=12353 http://www.opalesque.com/Futures_Briefing/?p=12353#comments Mon, 08 Feb 2016 00:33:56 +0000 shailaja http://www.opalesque.com/Futures_Briefing/?p=12353 Morgan Stanley shares were lover over 4% on Tuesday even as Macquarie upgraded the rating on the stock to outperform from neutral with a $33 price target. The stock is down 4.75% or $1.22 after the news, hitting $24.49 per share.
About 13.74M shares traded hands. Morgan Stanley has declined 34.91% since June 26, 2015 and is downtrending. It has underperformed…

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The SEC’s Derivatives Proposal http://www.opalesque.com/Futures_Briefing/?p=12351 http://www.opalesque.com/Futures_Briefing/?p=12351#comments Mon, 08 Feb 2016 00:33:42 +0000 shailaja http://www.opalesque.com/Futures_Briefing/?p=12351 In December, the SEC released a document that addressed the derivatives usage of mutual funds (and exchange-traded funds). The commission has been busy over the past year, having submitted two proposals earlier in 2015, one on portfolio reporting and the other on investment liquidity. I thoroughly saluted the former and was of a mixed mind on the latter.
On the merits…

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Tumultuous stock market puts spotlight on liquid alternative mutual funds http://www.opalesque.com/Futures_Briefing/?p=12349 http://www.opalesque.com/Futures_Briefing/?p=12349#comments Mon, 08 Feb 2016 00:33:27 +0000 shailaja http://www.opalesque.com/Futures_Briefing/?p=12349 The pitch most advisers get for liquid alternative funds is that they provide superior returns when adjusted for risk. That’s a powerful lure in volatile markets when traditional diversification plays, such as international investments, haven’t helped.
Morningstar includes four other categories in the alternative universe: bear market, managed futures, multicurrency and multi-alternative funds. Bear market funds, used mainly by market timers,…

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Outlook For Funds ‘More Positive’ In 2016 http://www.opalesque.com/Futures_Briefing/?p=12347 http://www.opalesque.com/Futures_Briefing/?p=12347#comments Mon, 08 Feb 2016 00:33:06 +0000 shailaja http://www.opalesque.com/Futures_Briefing/?p=12347 eVestment report expects industry growth to match or exceed 2015. The hedge fund industry is in a good position for growth in 2016 and is set to outpace last year despite recent negativity. Estimated net asset inflows of $50-60bn in 2015 are anticipated to be either matched or improved upon, eVestment’s 2016 Hedge Fund Industry Out-look report suggests.
eVestment identifies increased…

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