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March 2018 Performance Report

Industry Benchmark Performance Due to the holiday, equity performance has not yet been updated. We will post industry performance as soon as it is available. Futures posted minor losses in March, similar to our own performance. This will also be updated. Blogs and Recent Publications Find this at the end of this report. We post new interviews and reference new articles each month. March … [Read more...]

February 2018 Performance Report

Industry Benchmark Performance We would like to see futures profitable when the stock market drops, but that’s not yet the case. If equities keep moving lower, futures programs will short the equity index markets and, with leverage, produce enough profits to offset stock losses. That doesn’t happen at the start of a sell-off, and we have no reason to believe (yet) that the sell-off will … [Read more...]

January 2018 Performance Report

Industry Benchmark Performance In the table below, January’s returns are shown in the left column, and the 2017 returns to the right. A good start for 2018, especially for futures. Equity hedge funds gained from 1.93% to 3.37% for program similar to ours, although ours were up by 6% to 8% in January. Also, one of the best starts in futures for the industry, ranging from 4% to 6%, but falling … [Read more...]

December 2017 Performance Report

Industry Benchmark Performance Another good month for the hedge fund index, but lagging 10% behind the S&P. Long-only equities did a bit better while other equity funds posted good, but lower returns. We understand that the purpose of the funds is to have steady returns and protect against drawdowns. If that works, then a lower profit in 2017 is easy to accept. CTAs ended, on average, … [Read more...]

November 2017 Performance Report

Industry Benchmark Performance A larger number of hedge fund managers are reporting results early this month, a sure sign that everything is going well. Equity Long programs are the real benchmark, and they were up 1.45% in November, about the same as our stock programs. For 2017 they have posted 12.59% higher, a nice return so far (but below our Daily Programs). Active management involve a … [Read more...]

October 2017 Performance Report

Industry Benchmark Performance Early reporting shows lower gains then we would expect when all the data is updated. Equity long shows the best gains so far, a percent ahead of SPY in October. The SG Trend Index is close to our returns for October, while the BTOP 50 shows only half that return. It could be that the CTAs reporting early are the ones with the best performance. We still expect … [Read more...]

September 2017 Performance Report

Industry Benchmark Performance Early reporting of equity performance indicates a profitable month, running at about the same rate as our equity programs, but lagging the major equity index benchmarks. Futures are posted daily, so that performance reflects returns through September 29. Of those, the BTOP 50 is the best indication of the Industry, off about 2% for September and down 4.39% for 2017. … [Read more...]

August 2017 Performance Report

Industry Benchmark Performance Positive returns for both equities and CTAs, good news for investors. Equity funds added less than 1% in August but added to the 2017 returns. They still lag the major index ETFs by 50%. CTAs also posted gains, bringing the overall CTA Index for Barclays and SG within a percent of breaking even for the year. Trend programs had the best return of 2.45% in early … [Read more...]

July 2017 Performance Report

Industry Benchmark Performance A generally good month for all programs, with long equity running ahead of the pack. But that would be expected in 9-year bull market. Even the Fund of Funds are showing gains. Futures CTAs posted mixed profits in July, with trend-following doing the best, and trimming somewhat substantial losses. We’re all waiting for some major trends to develop. Blogs and … [Read more...]

June 2017 Performance Report

Industry Benchmark Performance Early reporting shows small gains in the hedge funds, but adding to a reasonably good year-to-date return. The futures funds (CTAs) continue to struggle with no major trends being sustained in interest rates, the main driver of profits. Some gains from the weakening dollar were not enough to offset the uncertainty in yields, and equity index markets have either been … [Read more...]

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