CTAs Down For Second Straight Month

May 8 2009 | 11:04am ET

Last year’s trading princes reared their toad-like heads again in April, finishing -1.96% for the month and -4.01% YTD, according to the Newedge CTA Index.

Newedge’s AlternativeEdge Short-Term Traders Index also finished the month in the red at -0.97% (-2.37% YTD).
On average, April saw a continuation of poor performance for CTAs, according to Brian Walls, chairman of the Newedge Index Committee.

“The current environment has been difficult for these trading strategies. That being said, the diversification benefits of the index have mitigated the size of the drawdown,” he said. 

However, not all short-term traders swapped their robes for lily pads last month. Some top performers in the Short-Term Traders Index include Revolution Capital Management (6.48%); Quantitative Investment Management (4.5%); and Banyan Capital Fund (3.85%).

Of the 27 index constituents, six posted positive performance for the month and five are up YTD.

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