Computer-driven hedge funds were decimated last month, but the commodity trading advisors (CTAs), as they’re called, may be back from the dead.
Early July data indicates that CTAs are up 3.5% this month, or 0.4% for the year, reports the Wall Street Journal. CTAs were the shining stars of 2014, beating other hedge funds to the fall of oil and rise of the dollar. But last quarter the CTAs were hit hard, suffering major performance losses. Issues in Greece didn’t help.
Macro funds fell a bit behind CTAs in July, posting 2.3% gains, but a 0.9% gain for the year. CTAs took their bets on gold, oil, and the euro, all of which fell during July.
Photo: Daniel Hollister