Currency Traders Lag as CTAs start 2024 in the Black
Posted by Colin Lambert. Last updated: February 19, 2024
After two years of largely leading the TradFi pack, currency traders struggled at the start of 2024 according to BarclayHedge data, which shows that the broader CTA asset class was in the black.
The Barclay CTA Index was up 0.42% according to preliminary data with just over 80% of funds reporting. Within this, the only two negative sub-indices were the two that performed best in 2023, Currency Traders at -0.06% and the Cryptocurrency Traders Index at -0.56%.
Best performer was the MPI Barclay Elite Systematic Traders Index, which started the year with a 1.25% return and this reflected a wider trend, wherein systematic traders outperformed their discretionary brethren at the start of the year. The Systematic Traders Index was up 0.52% in January, while the Discretionary Traders Index was up just 0.17%.
The BTOP50 Index, which replicates the overall composition of the managed futures industry with regard to trading style and overall market exposure, was a preliminary +1.09% for January, after ending 2023 -1.63%.
