Wednesday, 30 July 2014
Last updated 1 hour ago
May 16 2007 | 10:24am ET
After months of continuous drawdowns and negative performance, John W. Henry & Co. finally turned things around trading-wise last month. Ten out of 11 JWH programs were up in April, led by the International Foreign Exchange program, which gained 9.8%, and the Global Diversified program, which rose 9.4%. Only the Worldwide Bond program was left out of the rally, losing 0.9% on the month.
April’s good news notwithstanding, all of its programs are still down for the year–the Global Diversified program is down an estimated 17.73% through April.
Last month, JWH’s systematic trading approach took advantage of opportunities that emerged as global financial markets recovered from the short-term dislocation that occurred at the end of February, according to Kenneth Webster, JWH president, in his latest investor letter.
“This transition, which caused losses when JWH’s systematic models exited positions as markets suffered sharp reversals, appears to have laid the foundation for a major shift in trends,” he wrote. “JWH’s programs benefited from sustained profitable trends that developed in numerous sectors. Currency positions were particularly profitable as various previously rang-bound currencies set historic high and lows.”
However, the firm’s programs were hurt in global fixed income markets because of uncertainty over the interest rate policies of the United States and Japan, according to Webster.
The firm managed some $1.3 billion as of the end of April.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…