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Commodity Funds Thrive Amid Market Meltdown

by Carla Johnson, Investors Offshore.com

19 December 2008


Managed futures gained another 1.54% in November, according to the Barclay Commodity Trading Advisor (CTA) Index compiled by BarclayHedge.

Through November the Barclay CTA Index has gained 12.69%, in stark contrast to a 21.27% loss for hedge funds and the 37.66% collapse in the S&P 500.

“CTAs appear to be on track to achieve their best annual performance since 1995 when the Barclay CTA Index gained 13.64%,” says Sol Waksman, founder and president of BarclayHedge.

In November, the Barclay Financial/Metals Index gained 1.98%, Systematic Traders were up 1.87%, and the Diversified Traders Index rose 1.84%.

“In response to sharp declines in growth, governments focused on deflation, lowered interest rates, and bond prices rallied,” says Waksman.

Barclay’s Diversified Traders Index has gained 24.54% year-to-date, Systematic Traders are up 16.50%, and Discretionary Traders have gained 12.17%.

“As the economy continued to slow, the down-trend in commodities was extended as demand and prices for energy products, base metals, and agricultural products all declined,” says Waksman.

“Traders that shorted stock index futures had been able to take substantial profits as the S&P 500 dropped to levels not seen in more than a decade," he adds.

The Barclay BTOP50 Index, which monitors performance of the largest traders, gained 1.74% in November and is up 11.86% year-to-date.

BarclayHedge actively tracks more than 6,600 hedge funds, funds of hedge funds, and managed futures programs.


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