Opalesque Futures Intelligence

Top Ten: Largest CTA Firms.

Tuesday, November 16, 2010

Largest CTA Firms

We asked veteran investor Richard Bornhoft, head of Equinox Fund Management and The Bornhoft Group, for his selection of top commodity trading advisors. He provided a list - not a ranking - of the largest CTA firms in the world. We’ve added comments.

Winton and QIM are components of the MutualHedge Frontier Legends Fund managed by Mr. Bornhoft - see Inside Talk and Regulator.

Earlier this year we published a similar list chosen from the components of the Altegris 40 index - the Top Ten in Opalesque Futures Intelligence January 7, 2010. Most of the names are the same as in that ranking, but not all.

Firm	Comment
Man AHL	See interview with chief executive Tim Wong in Opalesque Futures Intelligence, February 24, 2009.
BlueCrest	Owned 25% by Man Group, assets are around $15.5 billion.
Bridgewater	Total company assets are approximately $88 billion, but that includes all investments, not just futures trading.
Winton	Assets were reported as $13.7 billion as of July 2010.
Transtrend	A subsidiary of Robeco Groep, with $9 billion under management (including notional funds).
FX Concepts	Assets were reportedly $8 billion as of August 2010.
Graham Capital	See interview with manager Ken Tropin in Opalesque Futures Intelligence, March 10, 2009.
Quantitative Investment Management (QIM)	Assets were reportedly $5 billion as of February 2010.
Aspect	See interview with manager Martin Lueck in Opalesque Futures Intelligence, February 10, 2009.
Brummer & Partners	The managed futures program assets were around $2 billion earlier this year. The firm has other funds.