Data from BarclayHedge shows that while CTAs generally returned -0.31% in February, currency and crypto managers were the strongest performers, achieving positive results.
The BarclayHedge Currency Traders Index was up 2.2% in February with 85% of funds reporting results, this means the Index is up 3.45% for the first two months of 2020, the second best results amongst the eight sub-indices. The cryptocurrency index rose 1.72% in February, but thanks to a stellar January, this index is up 19% year-to-date.
Elsewhere, only the Discretionary Traders Index (+0.08%) and the Agricultural Traders Index (+0.07%), managed to limp into positive territory. The MPI Barclay Elite Systematic Traders Index fell 2.1% in February, while the Financials/Metals Index was down 0.32%, Diversified Traders Index was -0.18% and the Systematic Traders Index was -0.14%. Year-to-date, all indices remain in positive territory except for Discretionary Traders at 0.74% and the Elite Traders at -1.71%.
The Barclay Hedge Fund Index was down 2.63% in February, with all but three of the 30 sub-indices reporting a fall. The Volatility Trading (0.93%), Convertible Arbitrage (0.73%) and Fixed Income Arbitrage (0.43%) indices were the only ones to rise, with several emerging markets’ indices suffering falls above 6%. Year-to-date, only the aforementioned three indices are in the black and the overall index is -2.82%.
The BarclayHedge BTOP50 Index was down 1.3% on initial estimates, however, data for the first 19 days of March indicates things may be getting worse, with the index down 2.25%.