On this page I track the monthly results of the top CTAs/Managed Futures funds in the Trend Following space:
- Decades of successful track records (some managers approaching half a century such as Millburn or Campbell, founded in 1971 and 1972 respectively, with other pioneers following suit a few years later: Sunrise, Dunn, etc.)
- Legendary stories and experience: the most famous of them being the Turtle Traders experiment led by Richard Dennis in the eighties. Nearly a third of the list originate from or were associated with the Turtles (Liz Cheval, Jerry Parker, Bill Eckhardt and more – check the foot notes for details). Also in the list is David Druz, an early “disciple” of computerized trend following pioneer Ed Seykota.
- Billions of Assets under management: the list captures most if not all of the top Trend Following managers in terms of AUM, including the “super-large” that are Winton, Man AHL, BlueTrend or Transtrend. Collectively, the Trend Following Wizards manage close to $100 Billion.
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Latest Results (September ’14)
The Wizards did not disappoint with an average return of 6.07% for the month and 11.64% YTD.
Some of the more aggressive managers are now showing juicy YTD performance (38% or 45% for Paul Mulvaney or David Druz — with half the list being in double-digit territory).
Also of interest is that only a couple of managers are in the red for the month. This includes Winton, often considered as the “darling” of the CTAs/Managed Futures funds. Many people have wondered how much of a trend following strategy Winton actually employ… A negative return in a bad month for stocks and great one for trend following might bring part of the answer.
Please see below for the full results: [Read more →]