Differnce between managed futures managers and CTAs

Hello,

I am having a hard time finding out whether managed futures managers and CTAs are the same thing or not. Could you help?

Thanks.

 

Rudolf,
In essence they are exactly the same. CTA is a more US-centric term, and has less prestige associated with it.

CTA's generally operate through managed accounts whereas Managed Futures will typically have a fund(s) plus managed accounts.

Bolter

 

Thanks for your response Bolter.

 

CTA is an NFA/CFTC designation as is a CPO. A CTA basically is a fund manager, either by giving advice to people with their own accounts or to pools. A CPO basically creates the pools; in other words, a CPO gathers the money and a CTA manages it. One person/entity can be a CTA and a CPO.

 

A CTA makes directional bets on the markets? He uses technical and fundamental analysis?

 

Rudolf,
Yes they take directional bets (versus arb, relative value etc); and most use techicals and are systematic. Purely fundamental CTA's are a rare breed.
best,
bolter

 

Therefore a CTA would argue against the efficient market theory?

 

Most assuredly!