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Trend Followers Moderately Up in March

March was in most regards a slow month. Only one sector showed persistent trends and this was the normally troublesome equities market. The key trend was of course still the whole Japan complex, fueled by a decisive central bank. Most trend followers have been long the Nikkei, short the JY, long the RY and probably a few more similar related bets. These trends have been scary for the past months but scary in a good way. They just never seem to want to stop going parabolic.

The Core Strategy from Following the Trend ended the month at just about half a percent up. As usual, the gains came from the long side of the trading. The charts show you the impact of the equity sector and the relative insignificance of the others. The short agricultural commodities had a good run for a while, as did the short currencies, but they both ended up giving most away.

FollowingTheTrendMarch2013All

FollowingTheTrendMarch2013Long

FollowingTheTrendMarch2013All

 

 

As for the trend following hedge funds, they are showing the same pattern. Generally they are up but with a few exceptions they were not moving much in March. The difference in time horizon for Mulvaney compared to most others is becoming more and more apparent. They generally take a much longer view on trends than most others. This caused them to suffer deeper losses than most the past years but it’s also helping them making a very strong comeback. The long time horizons can be very scary and cause deep drawdowns at times, but in the long run the longer time frames are usually generating a much higher return.

FundMarch3 Months6 Months9 Months1 Year2 Years
Mulvaney Global Markets9.4%29.8%9.9%5.0%-15.7%-23.8%
Robinson Langley3.6%3.3%-16.1%-16.6%-23.4%-40.1%
Eclipse Global Monetary3.3%11.2%10.5%15.6%14.0%13.4%
DUNN WMA3.2%20.3%19.0%14.0%9.5%7.5%
Sunrise Capital Diversified3.2%1.3%-7.4%-10.2%-21.1%-22.8%
Fort Global Diversified2.8%2.4%1.5%7.9%8.9%54.1%
Winton Diversified2.7%5.4%5.1%6.0%2.5%6.1%
Quantica Managed Futures2.4%7.9%4.9%6.1%0.9%12.0%
Quicksilver Diversified2.0%-0.2%-1.6%-6.4%-14.2%-33.9%
Superfund Green1.8%6.0%-2.6%-5.8%-2.1%-23.0%
Clarke Capital Worldwide1.6%6.3%6.8%13.6%31.5%19.8%
Chesapeake Diversified1.5%6.2%-2.0%-3.1%-9.0%-29.1%
Estlander Alpha Trend1.5%10.9%1.0%1.6%3.5%-12.5%
Transtrend Diversified Standard Risk USD1.4%0.6%-2.0%-2.1%-0.6%-4.8%
M S Capital Global Diversified1.4%0.2%-5.6%-6.0%-11.9%-31.2%
ISAM Systematic Fund1.1%0.5%-5.6%-7.5%-13.0%-20.7%
Eckhardt Standard Plus1.1%3.4%-5.7%3.9%6.9%-10.6%
CampbellGlobal Diversified Large1.1%5.3%0.0%3.4%3.7%6.2%
Welton GDP Program1.0%2.5%-3.0%-2.0%-4.6%-20.6%
John Locke Cyril Systematic1.0%-0.8%-4.8%-3.0%-3.0%-9.6%
IKOS Futures Fund0.9%0.2%-1.7%-1.2%-2.9%-11.9%
AIMhedge GDF Classic0.7%2.9%1.3%-1.8%-2.6%-7.5%
Conquest Managed Futures Select0.6%3.1%-1.0%-1.3%-1.9%-11.5%
Abraham Diversified0.5%0.5%-2.4%-0.7%1.9%-7.9%
IKOS Hedge Fund0.2%1.0%1.1%0.8%-1.3%-10.0%
Kaiser Trading Group0.1%1.2%-1.5%-2.6%1.9%-4.2%
NuWave Combined Futures Portfolio0.0%-2.1%-4.5%-11.9%-13.0%-7.8%
Rabar Diversified Program0.0%0.3%-8.4%-7.6%-5.0%-17.7%
Hyman Beck Global Portfolio-0.2%0.6%2.0%-4.8%-13.7%-27.0%
Adamah Diversified Program-0.3%-2.1%-3.9%-5.2%-8.5%-21.3%
Quality Global Diversified-1.2%0.5%-10.1%-2.7%-7.5%-22.1%
Heyden Steindl TOMAC2-3.9%-6.3%-3.4%5.2%11.0%-13.4%

 

I’d like to thank everyone who bought my book and who helped keep it as the number 1 best selling futures book for the past few months. In particular I’d like to thank all of you who contacted me with your feedback and who wrote reviews on Amazon. I had not expected such an overwhelmingly positive response from readers and it’s great to hear from you all.

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