Dunno if GAT breaks out his returns by sector (certainly it's his privilege to choose not to) but I wonder if he's up mostly/fully because of equities also.
https://www.bloomberg.com/news/arti...on-the-quant-map-after-market-beating-october The Florin Court shop is around 95% ex AHL guys. GAT
Today will be a test for the trendies. I'm hearing they're mostly down on this equity decline. Investors will find out how much closet β they're carrying.
Big article by Matt Smith on this industry trend: https://hfm.global/ctaintelligence/analysis/the-new-frontiersmen/ Few quotes from yours truely. Behind a pay wall sadly. GAT
“The challenges for CTAs moving beyond traditional futures markets aren’t research challenges that can be solved by throwing Phds at the problem,” says Rob Carver, an expert on systematic trading, who was formerly head of fixed income at AHL, and was responsible for managing the majority of the Evolution trading strategies, before leaving in 2013... Carver points out that in contrast to trading futures on centralised exchanges, which have systems and protocols that allow trading to be automated, OTC trading may be spread across numerous venues. “Degrees of automation vary, with some markets only accessible via voice broking, messaging systems, or bespoke user interfaces without the APIs needed for full automation. “Price quotes captured for processing may not be reliable or dealable, or will be stale by the time the order comes for execution.” Carver thinks that CTA managers entering the alternative markets realm may need to look to the wider job market to hire execution traders with the specialist knowledge required... “The back office for a futures-only business can be relatively slimline, with automated processing doing the bulk of the work,” Carver says. “In contrast OTC operations teams need to be larger for a given AuM, and will often require specialist knowledge.”
Hi GAT, Will you be adding Bitcoin futures to your portfolio when they list on the CME later this year?