http://www.reuters.com/article/2013/02/14/uk-winton-investors-outflows-idUSLNE91D00E20130214 " One investor told Reuters that he had reduced exposure to CTAs by about two thirds since 2008 because of poor returns. However, CTA performance has picked up since December, helped by a rally in riskier assets such as equities. Winton is up about 2.5 percent this year, AHL has gained 2.1 percent since January 1 and BlueTrend rose 3.8 percent in January. "Performance in 2011 and 2012 was poor," said Chris Topple, global head of prime clearing services at Newedge. "They (CTAs) definitely need a good year in 2013." "