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Alternative Market Briefing

Managed futures ease off in May but still up 2.27% YTD

Thursday, June 13, 2019

Laxman Pai, Opalesque Asia:

Managed futures were unable to maintain momentum in May as the battering equity markets and oil prices took from trade wars and tariffs contributed to CTA funds dropping 0.19%.

For the year-to-date, CTA funds remained in positive territory through the end of May, up 2.27%, according to the Barclay CTA Index compiled by BarclayHedge.

Gainers and losers were evenly split in May among the eight CTA sectors tracked in the Barclay CTA indices, though all remained in the black for the year.

"While rallies in energy and equity markets propelled managed futures' performance in recent months, those markets were rocked in May by trend reversals attributed to tariffs and trade wars," said Sol Waksman, president of BarclayHedge.

"However, the ongoing rally in fixed income instruments accelerated and provided profitable opportunities to mitigate losses in other market sectors," he added.

The Cryptocurrency Traders Index set the pace for gainers in May with a 35.18% return for the month. The Agricultural Traders Index was a distant second with a 1.28% monthly return.

"Bitcoin staged a significant rally in May, while total market capitalization for other major cryptocurrencies was also on the rise," said Waksman.

"In the agricultural markets, fear of an escalating U.S.-China trade war reducing demand and driving crop prices down were offset by concerns that wet weather in the corn belt during peak planting season would res......................

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