Tough start of the year for the trend following Wizards, with just two of them posting positive results.. As a result, lots of red in the table.
Additions: New Wizards
Thanks to all the readers who submitted suggestions for additions into the list. I added four new managers, taking the list to 30 constituents:
- Covenant Capital Management
- Estlander & Partners
- Lynx Asset Management
- Quantica Asset Management
For each of these, I picked the most “trend-following” oriented program. I received several more suggestions that I checked; some were too “emerging” to be on the list but a good part of the established managers showed too little an allocation to trend following strategies. Some of the big ones having less than 50% allocated to trend following (it could be argued that this is the case for Lynx above, with an advertised allocation to trend following at 50% only, but I still decided to include them because of their very large size, and for a bit of “geographical diversification”).
Checking back the managers already on the list, I could see that this “trend” of adding extra strategies to a core trend following one has been growing and not all of the Wizards have a “good old” traditional 100% allocation to trend following like the Dunn, Chesapeake, Campbell, Mulvaney, etc. (for example, Abraham only lists trend following as 45% of their program – coincidentally they are one of the managers being up last month). As a reader was pointing out, this is probably a reason for the increased divergence in the Wizards performance. Something worth investigating when going over past performance of the Wizards.
Please find the full results for January 2014 below:
Organisation / Fund | Return | YTD * | AUM ** |
---|---|---|---|
Abraham Trading1 |
2.55%
|
2.55%
|
$185M |
Altis Partners2 |
-8.02%
|
-8.02%
|
$509M |
Aspect Capital3 |
-5.64%
|
-5.64%
|
$5,152M |
Beach Horizon4 |
2.00%
|
2.00%
|
$62M |
BlueTrend5 |
-4.04%
|
-4.04%
|
N/A |
Campbell & Company6 |
-2.70%
|
-2.70%
|
$710M |
Chesapeake Capital7 |
-3.27%
|
-3.27%
|
$122M |
Clarke Capital8 |
-1.37%
|
-1.37%
|
$22M |
Covenant Cap. Mgt.9 |
-5.68%
|
-5.68%
|
$77M |
Drury Capital10 |
-5.30%
|
-5.30%
|
$234M |
Dunn Capital11 |
-4.35%
|
-4.35%
|
$312M |
Eckhardt Trading12 |
-2.28%
|
-2.28%
|
$296M |
EMC Capital13 |
-3.20%
|
-3.20%
|
$90M |
Estlander & Partners14 |
-2.98%
|
-2.98%
|
$392M |
Graham Capital15 |
-4.86%
|
-4.86%
|
$2,402M |
Hawksbill Capital16 |
-3.16%
|
-3.16%
|
$45M |
Hyman Beck & Co.17 |
-6.71%
|
-6.71%
|
$187M |
ISAM18 |
-2.55%
|
-2.55%
|
$565M |
Lynx Asset Mgt19 |
-5.29%
|
-5.29%
|
$4,793M |
Man AHL Diversified20 |
-2.90%
|
-2.90%
|
$913M |
Mark J. Walsh & Co.21 |
-6.04%
|
-6.04%
|
$71M |
Millburn Ridgefield22 |
-2.24%
|
-2.24%
|
$703M |
Mulvaney Capital23 |
-1.46%
|
-1.46%
|
$164M |
Quantica Capital24 |
-3.30%
|
-3.30%
|
$468M |
Rabar Market Research25 |
-2.80%
|
-2.80%
|
$107M |
Saxon Investment26 |
-2.30%
|
-2.30%
|
$78M |
Sunrise Capital27 |
-4.52%
|
-4.52%
|
$150M |
Tactical Investment Mgt28 |
-1.26%
|
-1.26%
|
$49M |
Transtrend29 |
-3.25%
|
-3.25%
|
$5,339M |
Winton Capital30 |
-2.17%
|
-2.17%
|
$23,700M |
Summary Figures*** |
-3.30%
|
-3.30%
|
$47,897M |
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