Looking across managers that more than $100mn under management, we observe that most of them seem to have had a good 2019, with the average manager up around 9%. With an average aum of 1.4bn this translates into a net profit for investor of more than $10bn. This is impressive in its own rights, but particularly welcome after a difficult period for Global Macro / CTA managers. Sadly, not all of the $10bn represents net new performance and performance fees does not apply to all of it.
Top 5 manager groups, that made the most money for invests are P/E Investments, Man AHL, Graham Capital Mgmt, Lynx Asset Management and
Aspect Capital. At least using our estimates of AUM.
Next month, we hope to present the list much earlier. And the list may contain error in terms of AUM or use improper aggregations.
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| manager | program | Dec | YTD |
| Abbey Capital | Abbey Alternative Fund | 0% | 8% |
| Abbey Capital | Abbey Global Fund | 4% | 31% |
| ADG Capital Management | ADG Systematic Macro | 0% | 2% |
| Alder Capital | Alder Global 20 | -4% | -9% |
| Altis Partners Jersey Limited | PureTrend Portfolio | -2% | 1% |
| Aquantum | Commodity Spread | 2% | -10% |
| Aspect Capital Limited | Diversified Program | -1% | 20% |
| Auspice Capital Advisors | Broad Commodity Index | 2% | -3% |
| Blue Diamond Asset Management | Blue Diamond Non-Directional Strategy | 0% | 5% |
| Campbell & Company | Managed Futures | -3% | 11% |
| Cantab Capital Partners | CCP Core Macro | 1% | 23% |
| Cantab Capital Partners | CCP Quant Fund | 3% | 40% |
| Chesapeake Capital Corporation | Diversified Program Plus | -2% | -3% |
| Crabel Capital Mgmt | Crabel Multi-Product | 0% | 8% |
| Crabel Capital Mgmt | Crabel Multi-Product 1.5X AA | 0% | 12% |
| Crabel Capital Mgmt | Crabel WPD Futures | 0% | 2% |
| Drury Capital | Diversified Trend-Following Program | 1% | 4% |
| Dunn Capital Management | World Monetary | 0% | 17% |
| Dunn Capital Management | World Monetary Institutional | 0% | 9% |
| ecamos Capital AG | ecamos Volatility Strategy 2X | 1% | 21% |
| EMC Capital Advisors | Alpha Program | 1% | 13% |
| Episteme Capital Partners | Systematic Quest | 1% | 15% |
| Equinox Fund Management | MutualHedge Futures Strategy | -3% | 9% |
| First Quadrant LP | Essential Beta | 2% | 21% |
| First Quadrant LP | Tactical Currency Allocation L/S 2% | 0% | -1% |
| Fort LP | Global Contrarian | -1% | 15% |
| Fort LP | Global Diversified | 0% | 15% |
| Fort LP | Global Trend | -1% | 10% |
| Global Sigma Group | AGSF | 1% | 10% |
| Global Sigma Group | Plus Program | 1% | 8% |
| Goldman Management | Navigator Fund | 2% | 22% |
| Graham Capital Mgmt LP | Discretionary | 1% | 4% |
| Graham Capital Mgmt LP | Discretionary Enhanced Vol | 3% | 5% |
| Graham Capital Mgmt LP | Graham Quant Macro Strategy | -2% | 14% |
| Graham Capital Mgmt LP | K4D-10V | -3% | 16% |
| Graham Capital Mgmt LP | K4D-15V (Composite) | -5% | 26% |
| Graham Capital Mgmt LP | Proprietary Matrix | 1% | 16% |
| Graham Capital Mgmt LP | Tactical Trend | -3% | 17% |
| Greenwave Capital Management | Flagship Plus | 1% | -5% |
| Greenwave Capital Management | Flagship Plus (lag) | 1% | -5% |
| Greenwave Capital Management | Flagship Plus 2X | 1% | -9% |
| Independent VIew BV | IV Quantitative Futures Fund | 1% | 9% |
| IPM Informed Portfolio Management | IPM Systematic Currency | 0% | 8% |
| IPM Informed Portfolio Management | IPM Systematic Macro | 3% | -3% |
| J E Moody | Commodity Relative Value | 0% | -3% |
| Kaiser Trading Group | Kaiser Trading Group Pty. Ltd. | 0% | 18% |
| KeyQuant SAS | Key Trends Program | -3% | 21% |
| Lynx Asset Management | Lynx | -1% | 16% |
| Lynx Asset Management | Lynx 1.5x | -1% | 26% |
| Man AHL | AHL Alpha | 1% | 8% |
| Man AHL | AHL Dimension | 0% | 8% |
| Man AHL | AHL Diversified | 1% | 10% |
| Man AHL | AHL Diversified Guernsey | 1% | 10% |
| Man AHL | AHL Evolution | 5% | 16% |
| Mesirow Financial Investment Management | Global Emerging Markets Alpha Programme | -6% | 7% |
| Metolius Capital | Diversified Master Fund | 2% | -3% |
| Metori Capital Management | Epsilon Managed Futures (Lyxor) | -3% | 21% |
| Millburn Ridegfield Corporation | Commodity Program | 2% | 6% |
| Millburn Ridegfield Corporation | Diversified Program | 0% | 7% |
| Mondiale Asset Management | Leveraged Trading Proram | 0% | -5% |
| Mulvaney Capital Management | Global Diversified Program | 1% | -21% |
| Ortus Capital Management Limited | Currency – Aggressive | -3% | 34% |
| P/E Investments | FX Strategy – Aggressive | -7% | 13% |
| P/E Investments | FX Strategy – Conservative | -2% | 5% |
| P/E Investments | FX Strategy – Standard | -5% | 7% |
| Pan Capital Management LP | Energy Fund | 1% | 19% |
| PIMCO | Commodity Alpha Fund | 1% | 8% |
| Polar Star Management | Polar Star Fund | -7% | 3% |
| QMS Capital Management LP | Diversified Global Macro | -4% | -4% |
| QMS Capital Management LP | Financials-Only Global Macro Strat. | -4% | -1% |
| Quantica Capital AG | Managed Futures Program | -1% | 27% |
| Quantitative Investment Management | Global Program | 2% | -1% |
| Quest Partners | AlphaQuest Original | -2% | 7% |
| Ramsey Quantitative Systems | RQSI GAA Systematic Global Macro Fund | 3% | 14% |
| Revolution Capital Management | Global Alpha Program | -3% | 13% |
| Revolution Capital Management | Mosaic Institutional Program | -3% | 4% |
| Rhicon Currency Management Pte | Strategic Prog | 0% | -5% |
| ROW Asset Management | Diversified Program | -1% | 5% |
| Statar Capital | Natural Gas Strategy | 3% | 34% |
| Tarpon Trading | Systematic FX Alpha | 1% | 5% |
| Tianyou Asset Management | Tianyou Fund | 2% | 17% |
| Transtrend BV | Enhanced Risk | 0% | 2% |
| Trigon Investment Advisors | Discretionary Macro | 1% | -4% |
| Tudor Investment Corp | Tudor Momentum Fund Ltd. | -1% | 9% |
| Wadhwani Asset Management | Keynes Dynamic Beta Strategy Lev | -2% | 30% |
| Welton Investment Partners | Global Directional Portfolio | -3% | 3% |
| Welton Investment Partners | Welton Trend Program | -2% | 6% |
| Winton Capital Management | Winton Futures Fund | 1% | 1% |
| Winton Capital Management | Winton Futures Fund (Lyxor) | -3% | 8% |