Managed futures gained 1.11 per cent in April, but overall performance from this segment of the alternative investment world was mixed, according to the Barclay CTA Index compiled by BarclayHedge. The index is up 2.11 per cent year to date.

A CTA, or commodity trading advisor, is, according to one definition, an individual or firm who provides individualised advice regarding the buying and selling of futures contracts or options on futures, or certain foreign exchange contracts.

Five of Barclay’s eight CTA indices made gains, while three indices lost ground. The Financial and Metal Traders Index gained 1.47 per cent, Systematic Traders was up 1.21 per cent, and Diversified Traders gained 1.20 per cent.

The biggest loss in April was posted by Currency Traders which fell 0.50 per cent. Agricultural Traders lost 0.26 per cent, and Discretionary Traders was down 0.22 per cent.

The Barclay BTOP50 Index, which measures performance of the largest CTAs, gained 1.58 per cent in April.

Year to date, Systematic Traders has gained 2.46 per cent, Diversified Traders is up 2.37 per cent, Financial and Metal Traders added 2.28 per cent, and Currency Traders gained 1.06 per cent.

The only losing strategy for the year so far is the Agricultural Traders Index, which is down 0.13 per cent.

“Rising prices for equities and debt securities were fuelled by central bank easing, and coupled with falling commodity prices driven by weak economic data out of China, served as the backdrop for CTA performance in April. Portfolios with exposure to a preponderance of the major futures sectors were in the best position to profit from the trading opportunities available,” said Sol Waksman, founder and president of BarclayHedge.