New Managers
March 2013
EManagers DB Insights - CTAs that invest in soft commodities are having a good start this year
Are CTAs which invest primarily in soft commodities doing well enough? Well, we have a sneak peek here for those five funds which report to our Emerging Managers database, namely; AN Commodity Fund, Tlaloc Capital LLC: Grains Program, Tejas Advisors Fund, Lembros Commodity Advisors LLC: LCA 30 and Total Alpha Ultimate (SAC) Ltd.
AN Commodity Fund, the oldest of them, registered positive growth in January as it gained +10.83% after posting negative returns in Dec'12 and Nov'12. Tejas Advisors Fund was up +2.14% followed by Tlaloc capital, up +0.9% and LCA 30 inched up marginally to +0.03%. Total Alpha Ultimate was the exception, as it was down -3.34%. Take a look at chart below for last three-month performance up to Jan'13. Three-month compounded performance for AN Commodity Fund was at -19.62% (worst among the five), followed by Total Alpha Ultimate, -2.99% and LCA 30, -1.17%. Tejas Advisors Fund and Tlaloc Capital registered positive returns, +0.81% and +0.67%, respectively. AN Commodity Fund lags its peers in compounded return for the last 12 months too, having a negative performance of -61.19%. A close look at the worst drawdown shows that younger funds (Total Alpha Ultimate and LCA 30) are in a good position compared to the other three older funds. But Tlaloc Capital, the second oldest fund, emerges as the best among all irrespective of age...................... To view our full article please login
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