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Managed Futures Down 0.59% in July; Larger Traders Drop 1.70%

FAIRFIELD, Iowa, August 13, 2007 – Managed futures performance slid 0.59% in July, according to flash estimates from the Barclay CTA Index.

“In many ways, July was a 'perfect storm' for the managed futures sector”, says Sol Waksman, founder and president of The Barclay Group.

“The Dow made a new all-time high on July 19, but by July 31st it had dropped 1.47% for the month, driven by uncertainty in the sub-prime sector.”

“As global equity markets experienced a sell-off, investors drove prices of U.S. Treasuries higher in the ensuing flight to quality.”

Six of Barclay's eight CTA indexes lost value in July. The Systematic Traders Index was down 0.72%, Diversified Traders declined 0.32%, Financial and Metals Traders lost 0.20%, and Agricultural Traders slid 0.08%.

“Currency traders also came under pressure as the Japanese yen rallied sharply against other major currencies," says Waksman.

“There's speculation that the sudden strength in the yen is the result of traders unwinding their 'carry-trade' positions."

The largest CTAs faced a difficult month, as the Barclay BTOP50 Index dropped 1.70% in July. The BTOP50 remains up 2.33% for the year, slightly ahead of the broader Barclay CTA Index, which has gained 1.67% YTD.

“Larger CTAs are often more heavily invested in the financial markets due to the greater liquidity in the sector. Smaller traders are able to keep more of their portfolio in commodities."

Click here to view 27 years of Barclay CTA Index data.

Sol Waksman is an experienced media source, providing perspectives on hedge fund and managed futures trends. For more commentary or background, call 641-472-3456 or email

The Barclay Group, founded in 1985, actively tracks more than 6,300 hedge funds and managed futures programs. Barclay has created and regularly updates 18 proprietary hedge fund indexes and eight managed futures indexes.

Institutional investors, brokerage firms and private banks worldwide utilize Barclay’s indexes as performance benchmarks for the hedge fund and managed futures industries.