Morgan Stanley Managed Futures Funds Fall In '11

Mar 29 2012 | 11:56am ET

Last year was not a good one for Morgan Stanley's managed futures funds.

Five of the Morgan Stanley Smith Barney's managed futures funds lost money last year, with total market losses of $79.1 million. Most of that amount came out of Spectrum Select, the largest fund, which fell 17.9% in 2011.

The average loss for the six was 9.5%, more than twice the decline of the Dow Jones Credit Suisse Management Futures Hedge Fund Index. The losses led Ceres Managed Futures, the Morgan Stanley subsidiary that oversees the fund, to fire two underlying managers, John W. Henry & Co. and Sunrise Capital Partners, last year. The fund managed by those two firms, the former Spectrum Currency, lost 9.8% last year.

Ceres has renamed the fund Spectrum Currency and Commodity.

All six of the funds were hit by investor redemptions; Spectrum Select saw $55.2 million pulled during the year, Morgan Stanley said.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...