Crypto Traders Bounce Back in April as FX Suffers: Barclayhedge

The Cryptocurrency Traders Index starred in the latest Barclayhedge CTA Index, the segment reporting a 16.82% return for the month (albeit with just over 55% of funds reporting compared to the more normal rate for other segments of 70-80%). By contrast, the Currency Traders Index, having had two strong months, was the worst performer, returning -0.89%. That said, currency traders remain the second best return for the year at 5.04%, beaten only by crypto traders at +23.05%.

The overall Barclayhedge CTA Index rose 0.2% to be 1.52% up for the year-to-date with only agricultural (+1.33%) and discretionary traders (+1.48%) producing returns above 0.23%. Year-to-date the Elite Systematic Traders Index stubbornly refuses to live up to its name, being the worst performer at -3.83% – the strategy did return 0.23% in April however.

The top-down, largest managers’ index, the BTOP50, rose 0.30% in April, for a -1.95% return for the year.

Elsewhere, April was an excellent month for hedge fund managers as the Barclayhedge Hedge Fund Index set about recovering some of the disastrous losses of the past few months. The Index rose 5.43% in April, however this still leaves it -7.1% for the year-to-date.

April performance was strong across the board with only the Emerging Markets MENA Index suffering a loss or 1.25%. Significantly, highlighting changing market conditions, the Index that has flourished over those two months – Volatility – managed a 0.03% return for April. It remains, comfortably, the best performer year-to-date, however, at +7.42%. Only three indices are in the black for the year, the others being Fixed Income Arbitrage (+2.01%) and Option Strategies ((+0.14%).

In spite of a strong April at +5.25% and +7.25% respectively, the Latin America and Latin America Equities Indices remain mired with year-to-date losses in excess of 23%. Perhaps unsurprisingly, the Healthcare and Biotechnology Index performed best in April as the markets looked towards pandemic remedies, rising 10.91%. It remains down 1.88% for the year, however.

Colin Lambert

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