Based on preliminary data from the Newedge CTA Index, Credit Suisse Dow Jones Core Managed Futures Index, and the performance of the CTAs we track here at Attain, we are estimating managed futures finished July +3.35%, bringing YTD performance to -1.01%.

Multi-Market traders took advantage of the flight to quality trade, with many programs holding long Swiss Franc, Japanese Yen, and fixed income futures.  This was the best month of the year for trend followers, with programs like Clarke Worldwide and Covenant Aggressive rebounding after being in the red through the first six months of the year. Short-term traders were up slightly, with  Quantum Leap and Dominion Sapphire having good months. Option traders were mixed with approximately 50% of the programs we track posting positive returns.  Floundering this month were discretionary traders, as they struggled to adapt to the changing market conditions.

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