The Societe Generale CTA Index posted a slightly positive return of 0.08% in April as market conditions improved but remained uncertain.
Trend followers slightly outperformed other strategies, ending up 0.41%, and short-term strategies also delivered positive performance as the Short-Term Traders Index was up 0.20%.
According to the SG Trend Indicator, the performance of trend followers was driven by the energy complex, bonds, currencies, and equity indices.
Whilst the upward trend in energy markets continued and contributed 1.37% to the portfolio, the US bond markets also continued their downward trend. The US dollar strengthened against the existing downward trend causing losses in many currency markets.