Wednesday, 20 August 2014
Last updated 1 hour ago
May 9 2011 | 1:03pm ET
A disastrous four days erased a strong start to April for Quantitative Investment Management and wiped out the commodity trading advisers' gains for the year.
The Charlottesville, Va.-based firm's flagship Quantitative Global Program roared out to a 3% jump in the first six days of April. But "profits were wiped out swiftly in four days of trading as the program was poorly positioned for a global de-risking following news that the severity of the Japanese nuclear crisis had been raised to the maximum level."
The $5.1 billion fund would up down 2.42% on the month, leaving it with a 1.35% loss through four months. The three-times levered version of the fund did, as expected, three times worse, dropping 7.1% to leave it down 3.8% on the year.
But that was modest compared to the beating taken by QIM's stock fund, the $468 million Tactical Aggressive Fund, which in the space of 30 days went from being the firm's best performer to its worst. The fund lost 10.97% in April, just shy of its maximum monthly drawdown, 11.49% last January, and is now down 3.97% on the year.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note