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CTAs Extend Winning Streak in July

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Stockholm (HedgeNordic) – After putting in a strong performance in June, trend-following CTAs continued their recovery in July. According to Lyxor’s latest weekly brief, CTAs gained 1.1 percent last week and 2.3 percent month-to-date.

“CTAs outperformed both last week and month-to-date,” writes Lyxor’s weekly brief, adding that “the strategy has benefited from central bank dovishness, which has fueled equity and bonds returns in recent months.” A group of 25 CTA funds tracked by Lyxor gained 10.5 percent year-to-date through the end of last week.

In June, Nordic CTAs booked the group’s best monthly performance since the beginning of 2018 after gaining 1.9 percent on average. With an average return of 2.4 percent in the first six months of 2019, Nordic CTAs also registered their second-best first half-year performance since 2008. Several Nordic CTAs continued to deliver strong gains in July.

Swedish-domiciled systematic fund Lynx (Sweden), the best performing member of the NHX CTA in the first half of 2019, gained 4.6 percent month-to-date through the end of last week. Lynx (Sweden) extended its year-to-date performance to 18.8 percent. RPM Galaxy, which was up 5.2 percent in June and down 2.6 percent in the first half of 2019, gained 10.2 percent month-to-date through the end of last week. RPM Galaxy is a multi-CTA fund that invests in large, established managers in the CTA space. Trend-follower SEB Asset Selection, meanwhile, advanced 3.0 percent month-to-date through the end of Monday this week.

 

Photo by Markus Spiske on Unsplash

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Eugeniu Guzun
Eugeniu Guzun
Eugeniu Guzun serves as a data analyst responsible for maintaining and gatekeeping the Nordic Hedge Index, and as a journalist covering the Nordic hedge fund industry for HedgeNordic. Eugeniu completed his Master’s degree at the Stockholm School of Economics in 2018. Write to Eugeniu Guzun at eugene@hedgenordic.com

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