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"A strengthening U.S. dollar and a continuing uptrend in equity markets helped fuel CTA gains in March. The $1.9 trillion Covid Relief bill fed deficit concerns and ignited a rise in U.S. interest rates which, in turn, sparked appeal in USD carry trades against negative yielding currencies," said Sol Waksman, president of BarclayHedge.

All but two of the sectors tracked in the Barclay CTA Indices were in positive territory for March. The Cryptocurrency Traders Index led the way for the month, returning 10.95%. Other notable March gainers included the MPI Barclay Elite Systematic Traders Index, up 1.10%, the Financial & Metal Traders Index, returning 0.43%, the Agricultural Traders Index, advancing 0.42%, and the Systematic Traders Index, gaining 0.41%.

The Discretionary Traders Index, which slipped 0.08%, was the only index in the loss column for the month.

For the first quarter of the year, the Cryptocurrency Traders Index set the pace, up 94.41%. The Diversified Traders Index gained 3.68%, the MPI Barclay Elite Systematic Traders Index was up 2.94%, the Discretionary Traders Index gained 2.74% and the Agricultural Traders Index advanced 2.22%.

Two sectors were in the red for Q1. The Currency Traders Index was down 0.15% while the Financial & Metal Traders Index was off 0.05%.

The Barclay BTOP50 Index, which tracks the performance of the largest CTAs that are open for new investment, was up 0.83% in March and advanced 2.68% in Q1.

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