Managed futures gained 1.91% in October according to the Barclay commodity trading advisors (CTA) index compiled by BarclayHedge. After three consecutive profitable months, the index is now up 4.53% for the year.
“A depreciating US dollar and rising prices for equities and commodities in October continued to drive CTA returns for the second month in a row,” said Sol Waksman, founder and president of BarclayHedge. “Although QE2 has been harshly criticised at the recent G20 meeting, judging by its stated objective to increase dollar flows into investments, the Fed’s second round of quantitative easing seems to be working for the moment.”
All of Barclay’s eight CTA indices had gains in October. The Barclay diversified traders index was up 3.25%, agricultural traders index gained 3.18%, systematic traders rose 2.28%, and discretionary traders gained 1.47%.
“Strong gains in the commodity sector provided excellent opportunities for diversified traders,” said Waksman. “Prices for silver, sugar, coffee and cotton increased by double digits in October.”
The Barclay agricultural traders index has now gained 10.40% year-to-date. “Fears of a crop shortage have propelled grain prices upward,” said Waksman. “Corn prices increased by 17% in October, while soybeans gained 11%.”
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