Opalesque Industry Update – Managed futures gained 0.96% in February according to the Barclay CTA Index compiled by BarclayHedge. |
“Geopolitical upheaval in the Middle East, rising commodity prices, and an on-going rally in equity markets were the main drivers of CTA returns in February,” says Sol Waksman, founder and president of BarclayHedge.
Seven of Barclay’s eight CTA indices were profitable in February. The Barclay Diversified Traders Index gained 1.56%, Systematic Traders were up 1.10%, Agricultural Traders rose 0.79%, Financial & Metals Traders gained 0.42%, and Discretionary Traders were up 0.41%.
“CTAs trading diversified portfolios were in an excellent position to profit, given that the opportunity set was spread across several different market sectors,” says Waksman.
“The S&P 500 gained 3.4 percent, and the Reuters-CRB Index increased by more than three percent led by price increases for precious metals, crude oil, cotton and cocoa.”
The Barclay Currency Traders Index slid 0.18% in February.
“Currency markets were mixed as an anticipated strengthening of the US dollar resulting from flight to safety flows failed to materialize,” says Waksman.
The Barclay BTOP50 Index, which measures performance of the largest CTAs, gained 0.38% in February.
BarclayHedge was founded in 1985 and actively tracks more than 6,000 hedge funds, funds of hedge funds, and managed futures programs. Each month Barclay provides updated performance rankings for 38 Hedge Fund categories and 16 CTA categories.