Mike Dancey, CAIA, is VP of Institutional Services and Head of Research at Managed Account Research Inc. He consults on CTA selection, due diligence, portfolio construction and integration.
Managed futures have variously been defined as an eclectic mix of investment strategies, a hedge fund category, and a separate asset class. People outside of the industry tend to see them as a risky investment. Regardless of perspective, managed futures exhibit unique properties that make these strategies an attractive investment vehicle.
Last month we discussed the differences between systematic and discretionary trading strategies comparing broad index categories. Here we look at styles through global macro indexes.
