Thursday, 21 August 2014
Last updated 9 hours ago
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.
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