Kettera Strategies Geographical Analysis - March 2024
In March 202X, the currency markets witnessed an interesting dynamic, according to Kettera Strategies. Medium-term systems proved to be the stars of the show, while shorter- and longer-term systematic trend programs faced challenges. However, it's important to note that there is currently no publicly available information on the top-performing systematic trend programs, discretionary global macro programs, FX specialists, or commodities specialists for this specific month.
For those seeking updated performance rankings, Kettera Strategies' official reports or trusted financial databases dedicated to hedge fund or CTA performance are recommended. These resources typically publish such data on a monthly or quarterly basis.
Carry strategies, which thrive on lower volatility, seemed to have performed relatively well during this period.
Kettera Strategies created "style baskets" for research purposes to track categories of programs on the Hydra Platform. These classifications are not investible products or index products, but rather a means to organise and analyse programs. The indices and financial benchmarks used for these "style baskets" are for illustrative purposes only and do not reflect the impact of advisory fees or guarantee future results.
The performance of these "style baskets" is represented by arrows, with the direction indicating the overall performance for the month. The weighting of a program in a basket depends upon whether it is currently or formerly on Hydra, under review, or expected to be added to Hydra.
In the agricultural sector, livestock programs outperformed those focused on softs markets. Live cattle programs, in particular, fared better due to a short-term fundamentally driven sell-off in the latter half of the month. The real winners, however, were the softs markets, with most programs positioned in softs having an outstanding month, particularly cocoa and coffee.
Long-term systematic trend followers also had a profitable month, with long global equity indices being the strongest sector. Trend systems also fared well in commodities markets, with long oil, precious metals, copper, and softs being successful trades, while short grains was unsuccessful. Short Japanese Yen (vs. USD, Euro, British Pound) was another strong performer for long-term systematic trend programs.
Discretionary global macro programs were mostly positive in March, with long precious and base metals exposures, long global equities, and short Japanese Yen vs. US Dollar-Euro-British Pound being strong performers. The agricultural sector offered interesting opportunities last month, with the performance of livestock programs being noteworthy.
As always, it's crucial to remember that past performance does not guarantee future results. The index providers may update their reported performance from time to time, and Kettera disclaims any obligation to verify these numbers or to update or revise the performance numbers.
Investors looking for data on the performance of long-term systematic trend programs might find it beneficial to refer to Kettera Strategies' official reports or trusted financial databases dedicated to hedge fund or CTA performance, as these resources often publish such data on a regular basis. Furthermore, in the realm of finance and investing, the use of data-and-cloud-computing and technology, such as the Hydra Platform's "style baskets," can provide valuable insights for categorizing and analyzing various investment programs.
