CTAs Go Well in April: Crypto the Only Black Spot

With volatility providing more trading opportunities, CTAs were quick to take advantage in April according to the Barclay CTA Index, which rose 2.67% with almost 85% of funds reporting. This brings year-to-date performance to +8.12%, and continues what has been a strong start to the year.

There were mixed fortunes for FX and crypto traders in the month, the Barclays Currency Traders Index rose 2.39% (for +5.04% year-to-date, while the Cryptocurrency Traders Index, reflecting the decline in crypto prices, fell 11.6% to be -18.24% down on the year – the only sub-index in negative territory.

The MPI Barclay Elite Systematic Traders Index, as the name would suggest, led the way again, rising 4.85% and is a performance leading +16.88% up on the year-to-date, there was also good performance from diversified traders at +3.71% (+12.21% on the year).

Perhaps reflecting the trending nature of markets, the Systematic Traders Index rose 3.1%, while the Discretionary Index was up 2.27%. Year-to-date, the latter (+9.25%) continues to out-perform the former (+8.85%), however the gap is narrowing after two consecutive months of out-performance from systematic traders.

The BTOP50 Index, which seeks to replicate the overall composition of the managed futures industry with regard to trading style and overall market exposure, also had a strong month, rising 4.9% for +13.86% year-to-date.

Elsewhere, the SG CTA Index also had a good time of it, rising 5.83% in April, for +19.38% on the year – the SG Trend Index also confirmed the nature of markets currently, rising 7.06% in April, for a stellar +26% on the year.