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Komfie Manalo, Opalesque Asia:

Commodity trading advisers (CTAs) that use computer programs to guide how they trade, made millions of dollars during last month’s market selloff on the back of declining oil prices and global equities and big moves in currencies.

Data provider Hedge Fund Research said that CTA and macro strategies led the gains with the HFRX Macro/CTA Index which returned +0.91% for January, with contributions from quantitative, trend-following, systematic CTAs managers and mixed performance of discretionary fixed income strategies. The HFRX Absolute Return Index gained +0.05% while the HFRX Global Hedge Fund Index posted a decline of -2.76%.

HFR said in its monthly report, "Global financial markets posted sharp losses in January led by declines in oil and global equities though steep intra-month losses in both were narrowed by strong gains in final trading days of the month. Global equities posted steep declines for the month led by biotechnology, energy, financial, energy, healthcare, small caps, China, Italy and Germany."

Report authors added that the HFRX Macro Systematic Diversified/CTA Index gained +2.43% as energy continued to decline and the U.S. Dollar gained against the Chinese renminbi, ......................

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