Financial Times: Some trend-following funds have had outflows while others, such as Roy Niederhoffer’s Diversified Fund and Man AHL have risen despite the stormy conditions

Financial Times: Some trend-following funds have had outflows while others, such as Roy Niederhoffer’s Diversified Fund and Man AHL have risen despite the stormy conditions

September 23, 2020

“This year has been a “crucible” for CTAs, according to Edward Raymond, head of UK portfolio management at Julius Baer. ‘It’s the anatomy of the downturn that matters,’ he said. “Some did well and others did not, and we’ve seen a wide dispersion of performance this year.” Aspect Capital, Millburn and Winton Group are down about 7 per cent, 12 per cent and 17 per cent respectively, according to numbers sent to investors and seen by the FT.

In contrast, Roy Niederhoffer’s Diversified Fund and the Tewksbury Investment Fund have gained roughly 44 per cent and 18 per cent. Man AHL’s trend funds are up 3 to 4 per cent, while other big players — such as AQR — have trodden water.”

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