Best’n’Worst March 2023

March turned out to be a strange month, a short-lived banking crisis heavily influenced the result for trend-based trading strategies but did not impact the overall performance of other strategies.

Overall, our rankings provide a useful starting point for investors who are looking to compare and evaluate different investment strategies. However, it is important to keep in mind that no single metric or ranking can capture all of the nuances and complexities of the investment landscape, and investors should conduct their due diligence and consult with financial professionals before making any investment decisions.

All data is believed to be reliable, but cannot be guaranteed to be correct.

CTA

March 2023 was a month where the winners of 2022 gave back profits. We note that several of the best-performing systematic managers are now ranking close to the bottom of the list. In the end, the exposure to fixed income turned out to be the major determinant of March’s performance.  Here it should be noted that investors that have maintained exposure to those strategies, since early 2022, are still up significantly. 

By studying the performance of individual CTAs, investors can gain a deeper understanding of the various factors that contribute to success in this space, including risk management, diversification, and the ability to adapt to changing market conditions. 

To explore the full list of CTAs and their rankings, including dynamic updates as new data becomes available, we invite you to visit our website at the Link provided. 

Market Neutral

Market Neutral is a popular strategy among investors due to its low volatility and steady returns over time. Unlike other strategies that may produce large gains or losses in a short period, Market Neutral tends to accumulate returns gradually over time.

While the average performance of Market Neutral funds is largely driven by factor performance, there are also specific funds that may be exposed to unique strategies that are not captured by academic factors.

To explore our extensive list of Market Neutral funds and their dynamic rankings, we invite you to visit our website at the link provided here. 

Equity Long/Short

Equity Long/Short strategies are investment approaches that involve taking both long and short positions in equities in order to potentially profit from the performance of individual stocks or the broader equity markets. 

Therefore, while the performance of Long/Short equity strategies is influenced by the broader equity markets, the best and worst managers are typically those who are able to identify and capitalize on idiosyncratic security-specific situations, as opposed to simply relying on market trends.

To explore our extensive Equity Long/Shortlist, with dynamic rankings, please see Link

Event Driven

Event-Driven managers are commonly exposed to various arbitrage/spread risks related to specialist situations securities. Managers with concentrated exposure tend to end up on this list and exploring the drivers of out or underperformance may yield insights.

When a manager has concentrated exposure to a particular event or company, they may end up on a list of top performers or underperformers in the Event-Driven strategy. Exploring the drivers of their outperformance or underperformance may yield insights into the effectiveness of their investment approach.

Our Event-Driven list can be explore here: Link

Risk Premia

Risk Premia managers are commonly implemented well-explored and researched systematic strategies.

These may be viewed as a general proxy for Hedge Fund exposure. Performance of specific factors may reveal differences and similarities to your own portfolio. To explore our extensive Risk Premia list please see Link

Crypto

Crypto managers are performing in the first quarter of 2023, erasing some of the losses suffered in 2022.

Returns tend to be double-digit (or even triple-digit for the best funds), simply due to the volatility of the asset class. To explore our extensive Crypto Strategy list, with dynamic rankings, please see Link

Past performance is not indicative of future results. Based on the most recent return data that we have available, we provide an overview of the best and worst-performing strategies for each category, taking into account both monthly and yearly results. Our analysis is based on proprietary composite data streams that we have compiled, but we must note that there is always the possibility of errors or inaccuracies in our calculations. 

It is important to note that our rankings are not filtered for Asset Under Management, meaning that funds of any size can be included in our analysis. Our rankings are based solely on a simple return metric without adjusting for volatility, so some funds may have a higher risk profile than others.