Managed futures funds turned in a second consecutive monthly gain in March returning 0.32%, according to the Barclay CTA Index, compiled by BarclayHedge, a division of Backstop Solutions. For the year to date, CTAs returned 2.29% through March.
“A strengthening U.S. dollar and a continuing uptrend in equity markets helped fuel CTA gains in March. The $1.9 trillion Covid Relief bill fed deficit concerns and ignited a rise in U.S. interest rates which, in turn, sparked appeal in USD carry trades against negative yielding currencies,” said Sol Waksman, president of BarclayHedge.
All but two of the sectors tracked in the Barclay CTA Indices were in positive territory for March. The Cryptocurrency Traders Index led the way for the month, returning 10.95%. Other notable March gainers included the MPI Barclay Elite Systematic Traders Index, up 1.10%, the Financial & Metal Traders Index, returning 0.43%, the Agricultural Traders Index, advancing 0.42%, and the Systematic Traders Index, gaining 0.41%.
The Discretionary Traders Index, which slipped 0.08%, was the only index in the loss column for the month.
For the first quarter of the year, the Cryptocurrency Traders Index set the pace, up 94.41%. The Diversified Traders Index gained 3.68%, the MPI Barclay Elite Systematic Traders Index was up 2.94%, the Discretionary Traders Index gained 2.74% and the Agricultural Traders Index advanced 2.22%.
Two sectors were in the red for Q1. The Currency Traders Index was down 0.15% while the Financial & Metal Traders Index was off 0.05%.
The Barclay BTOP50 Index, which tracks the performance of the largest CTAs that are open for new investment, was up 0.83% in March and advanced 2.68% in Q1.
For a complete table of Barclay CTA Index results as well as historical data, click here.
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Backstop’s mission is to help the institutional investment industry use time to its fullest potential. We develop technology to simplify and streamline otherwise time-consuming tasks and processes, enabling our clients to quickly and easily access, share and manage the knowledge that’s critical to their day-to-day business success. Backstop provides its industry-leading cloud-based productivity suite to investment consultants, pensions, funds of funds, family offices, endowments, foundations, private equity, hedge funds and real estate investment firms.
BarclayHedge, a division of Backstop, currently maintains data on more than 7,100 hedge funds, funds of funds and CTAs. The BarclayHedge Indices are utilized by institutional investors, brokerage firms and private banks worldwide as performance benchmarks for the hedge fund and managed futures industries.
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