From the October 01, 2012 issue of Futures Magazine • Subscribe!

Hot New CTAs: Not your father’s option traders

HNCs a year later

As we noted in our introduction, it was a tough year for emerging commodity trading advisors (CTAs). This group tended to have more exposure to MF Global and Peregrine Financial Group than more seasoned and institutional CTAs and, given their size, were more sensitive to the disruptions these failures caused. 

Bouchard Capital LLC
Bouchard finished 2011 up 4.82% and had a choppy start to 2012 but was mostly flat throughout the year. It ended up down 2.64% but had to close after the PFG bankruptcy as it held much of its customer and proprietary accounts with PFG.

Tanyard Creek Capital
When we spoke to Tanyard a year ago it was in the midst of a breakout, both in terms of performance and money under management. The livestock program continued its strong performance in 2012 and its assets have reached $55 million.

Adantia (Very aggressive program)
The Adantia very aggressive program finished 2011 strong; earning 43.92% for the year, but 2012 has been a different story as the program suffered through a sharp drawdown of 19.82% in May. However, its aggressive program is positive on the year and its other programs are only marginally lower.

Click on chart to enlarge.

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