Managed Futures Slip In March

Apr 16 2009 | 10:36am ET

Managed futures slipped by 1.16% in March, bringing their year-to-date losses to 1.59%, according to the Barclay CTA Index.

Diversified Traders lost 1.93% in March, Systematic Traders fell 1.61%, and Financial/Metals Traders were down 0.27%.

“Trend-followers, as a group, were on the wrong side of these markets when they changed direction mid-month,” said Sol Waksman, founder and president of BarclayHedge. “After gaining an impressive 26.55% in 2008, Diversified Traders are struggling to get their rhythm, losing 2.49% in the first quarter of 2009.”
 
The only winning CTA strategy in March was Barclay’s Discretionary Traders Index, which gained 0.24% during the month, and was up 0.90% at the end of the first quarter in 2009.

“Discretionary Traders rely on judgment and experience to make trading decisions while Systematic Traders usually employ some form of momentum-based approach to guide trade selection,” said Waksman.

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