"Retail" investment in leading CTAs

A

AFJ Garner

I am collating a list of "retail" size investment possibilities in leading and long lived CTAs and would appreciate feed back.

I have a number of possibilities where you can invested $25,000 min , some as low as $10,000.

These include Winton, Chesapeake, Dunn, Campbell, Abraham, Graham Capital.

I'm publishing a list.

Anthony FJ Garner
 
I was under the impression that not much retail investing in CTAs takes place. Can you tell us more about it. Are they running pools? What are the regulatory issues?

I recently read an interview with Jack Schwager (of Wizards fame) in which he says that allowing mutual funds that invest in stocks but not in CTAs is a mistake. He says a well-designed fund of CTAs outperforms most stock funds. He is managing such a fund, but it is not available to small retail investors. BTW, Schwager prefers smaller CTAs.
 
I'm building up a list on my website, mostly for personal use to be honest. I have invested in CTA's before but don't want to commit as much as $250,000 to each fund. I have found investments for as little as $100,000, $25,000 and $10,000 so far. And Saxon's fund is (or was) a minimum of $50,000. I guess this may not fit into some people's definition of "retail" but the amounts are much smaller than those typically available in the past. In Europe, these funds unfortunately take the UCITs form mostly, but Bluecrest runs a listed closed end fund. To my surprise I saw a couple of managers including Chesapeake and Abraham are making similar offerings in the US.

My aim is to "index" CTA investing over a fairly wide range of established managers.

I'm not sure whether a US investor can invest in a UCITs fund, but I have had no problem in the past investing in US limited partnerships despite the fact I'm a European.

The disadvantages of UCITSs include the cost of the swap and the credit risk of the swap. But still probably cheaper than paying 1 and 10 for a FoF.

Anthony FJ Garner
 
Quote from AFJ Garner:

I am collating a list of "retail" size investment possibilities in leading and long lived CTAs and would appreciate feed back.

I have a number of possibilities where you can invested $25,000 min , some as low as $10,000.

These include Winton, Chesapeake, Dunn, Campbell, Abraham, Graham Capital.

I'm publishing a list.

Anthony FJ Garner
More...


Aaa, perhaps checking Google would be a smart first step before publishing anything ?

Here's a clue to get you started. Try equinox mutual funds on for size.

surf
 
worldcupadvisor.com
collective2.com (please know this is shadier than the latter)

You can also screen CTA's at those min asset levels at autumngold.com.
 
Quote from bwolinsky:

worldcupadvisor.com
collective2.com (please know this is shadier than the latter)

You can also screen CTA's at those min asset levels at autumngold.com.
More...

Are those "leading" CTA's? Do you even need to be a CTA to promote a service there? I think FJ is looking for real professionals not C2 strivers or World Cup one hit wonders. Consistency is key for pro investors. surf
 
Quote from marketsurfer:

Are those "leading" CTA's? Do you even need to be a CTA to promote a service there? I think FJ is looking for real professionals not C2 strivers or World Cup one hit wonders. Consistency is key for pro investors. surf
More...

World Cup Advisors aren't one hits and have had very long careers afterward. They're top retail if the mutual fund like investing motif of the other "retail" programs is any better. Personally I would have to look at trading results but before that analysis of trade timing is a lot more important than performance summaries you'd get elsewhere.

I do make an assumption that we are at least talking about the actual trader and not an fof.

Leader follower programs allow better risk management IMO.
 
Anthony, 10 000 is not an Investment for CTA because it is not possible to run segregated accounts with such a small amount.

you have to separate between:
a. real CTA (NFA reg.) with segregated account. They will start at min. $250 000
b. Guys who call themself CTA but who are not NFA. regulated and do not run segregated accounts (but illegal pooled accounts). Those guys often work (with their own) black market brokerage firms trading forex or CFDs (all unregulated). Those guys will allways Show good Performance and take any Moneygladly .
c. Pooled Investments (NFA reg. CPO) might work for small Money like $10 000


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