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New & Closed – 2020 March

As part of a regular exercise, we scan the NFA register for new and closed managers. The below report will be developed over time and will be a recurring feature. We would like to highlight that some of the closures and registrations are due to corporate (re)structuring. March featured a deceleration in the prior trends, and while we observed a net decline in the number of managers, the decline was a relatively small decline of only seven managers. This compares to the prior decline of 31 managers per month.

Among the manager that closed, we would like to highlight Red Oak and Portfolio Concept. Managers with long-term track records that pulled away from the US market.

If we are optimistic, the trend may have started to change in March as the curve flattens out considerably. We do not know if the Coronavirus changed the speed or if change reflect slightly better business opportunities for managers. Noteworthy is that the number of closed managers declined the most while the number of closed manager stayed at similar levels. A positive fact, is that the number of CPOs increased by one manager compared to the prior month.

In March, 25 managers applied for a new registrations with the NFA. As usual, most of them are located in the USA. Hong Kong was the second most popular location to start a new CTA. This largely follows the distribution of managers. Not all of the managers are new, but have decided to register a specific entity or may have decided not to market to US clients anymore.

Ravinia Investment Management LlcCaliforniaUnited States3/5/2020
Asset Management Exchange Ireland Limited TheIreland3/5/2020
Blocktower Capital Advisors lpNew YorkUnited States3/6/2020
Smart Contracts Ca LlcFloridaUnited States3/7/2020
Motion Capital Group LlcNew YorkUnited States3/8/2020
Macrowaters Global Cayman IslandsHong Kong3/8/2020
Rathod Capital Management LlcNew JerseyUnited States3/10/2020
Adara Asset Management LlcNew YorkUnited States3/11/2020
Millennium Global Treasury Services LimitedUnited Kingdom3/11/2020
Vanda Asset Management LimitedUnited Kingdom3/12/2020
Hfr Investments LlcIllinoisUnited States3/13/2020
Millennium Global Americas LlcCaliforniaUnited States3/13/2020
Predictive Rift LlcVirginiaUnited States3/14/2020
Infini Capital Management LimitedHong Kong3/15/2020
1 Main Capital Partners lpNew YorkUnited States3/19/2020
Dymon Asia Capital Hk LimitedHong Kong3/19/2020
Goodlight Capital Group LlcMassachusettsUnited States3/19/2020
Mi International Group LimitedVirgin Islands3/22/2020
Aspro Exchange LimitedColoradoUnited States3/22/2020
Saeg Capital LimitedDelawareUnited States3/22/2020
New Traders Of America LlcFloridaUnited States3/27/2020
Evast Prime LimitedHong Kong3/27/2020
Tyche Asset Management LlcIllinoisUnited States3/27/2020
Standard Normal Energy LlcMassachusettsUnited States3/29/2020
Pointstate One LlcNew YorkUnited States3/29/2020

Funds withdrawing registrations was slightly higher in March, with a total of 32 managers handing back their regulatory status. The same applies for closed managers, a particular manager may have elected to close a specific local entity and may still be actively trading. 27 of the 32 managers were located in the US.

Bb&t Securities LlcVirginiaUnited States3/1/2020
Zweig Dimenna Associates IncNew YorkUnited States3/27/2020
Red Oak Commodity Advisors IncNew JerseyUnited States3/27/2020
Jfw Capital Management IncMinnesotaUnited States3/8/2020
Mroczek, Nancy StephanieMassachusettsUnited States3/8/2020
Zweig Dimenna International Managers IncNew YorkUnited States3/29/2020
Zweig Dimenna Associates LlcNew YorkUnited States3/29/2020
Qvt Financial lpNew YorkUnited States3/22/2020
Caz Investments lpTexasUnited States3/29/2020
Convexity Capital Management lpMassachusettsUnited States3/4/2020
Jaramillo Zuluaga, MarcelaValleColombia3/8/2020
Symmetry Global Advisors LlcFloridaUnited States3/8/2020
Portfolio Concept Vermoegensmanagement GmbhGermany3/11/2020
Predictwallstreet IncCaliforniaUnited States3/22/2020
Northmark Financial CorporationMinnesotaUnited States3/4/2020
Drei Schwestern Investment Group LlcGeorgiaUnited States3/8/2020
Revilo Strategic Investments LlcIllinoisUnited States3/8/2020
Noor Capital LlcTexasUnited States3/22/2020
Gp Energy Management LlcNew YorkUnited States3/8/2020
Lake Point Capital LlcConnecticutUnited States3/8/2020
One World Financial Partners lpTexasUnited States3/25/2020
Forecast Capital Advisors LlcCaliforniaUnited States3/6/2020
Strategix Capital Management LlcGeorgiaUnited States3/15/2020
Johnson Capital Wealth Management LlcIllinoisUnited States3/15/2020
Third Group Fz LleUnited Arab Emirates3/19/2020
Dracaena Capital Management LlcVirginiaUnited States3/8/2020
Spx Managed Futures IncNew YorkUnited States3/15/2020
Imbue Capital Management LlcNew YorkUnited States3/11/2020
Econtra LlcPuerto Rico3/28/2020
Goldbridge Capital LlcCaliforniaUnited States3/19/2020
Max Gain Capital SarlLuxembourg3/12/2020
Chesaw Trading LlcWashingtonUnited States3/20/2020