The 2019 CTA Challenge – November Newsletter

Attention CTAs!

Register Now For The 2020 CTA Challenge

Registration and participation are FREE for CTAs in 2020! Commodity Trading Advisors (CTAs) who are interested in participating in the 2020 CTA Challenge should contact Coquest now to get your program registered. Registration period closes December 5th, 2019. Click on the below banner to learn more about the CTA Challenge mission to educate and benefit investors as well as CTAs.


2019 Snapshot

Of the 90 liquid alternative investment programs participating in the 2019 CTA Challenge, we have seen performance range from -40% to +127% ROR since January 1st (gross performance numbers). Just like the futures market prices, the performance moves for CTA managed futures programs have been all over the place. The unpredictable nature of market price moves, both in direction and size, require CTAs to employ hefty risk controls if they want to protect their customers from large losses in the investment accounts. In the CTA Challenge, we take a risk-adjusted approach to analyzing and ranking CTA programs to ensure we are evaluating performance and risk numbers achieved as well as performance and risk exposures. We are evaluating “what actually happened” and also looking at “what could have happened”. See below for the most recent top 5 ranked programs year-to-date in the CTA Challenge.


2019 CTA Challenge:

Top 5 Ranking Through The End Of October

#1: County Cork LLC / Acclivity Program *QEP*

#2: Quantica Capital AG / Managed Futures Program *QEP*

#3: AG Capital Investments LLC / Discretionary Global Macro Program

#4: Emil Van Essen LLC / Global Tactical Allocation Program *QEP*

#5: Automaton Trading LLC / Diversified Program *QEP*

See the full current rankings here.

CTAs interested in participating, or investors interested in learning more about CTAs and Managed Futures investment strategies, should contact Coquest and the CTA Challenge by Clicking Here.


Featured CTA

Covenant Capital Management LLC’s (CCM) Tactical Growth Program is a market neutral trading strategy that employs proprietary, systematic and quantitative metrics in the S&P 500 and the VIX to forecast moves in the S&P. The Program utilizes, among other statistical inputs, present and future volatility expectations and will occasionally utilize VIX futures contracts as a hedge to its S&P exposure. The Program is designed to be non-cyclical and to profit during bullish, bearish, and flat S&P market conditions. Tactical Growth is non-trend-following and designed to be consistently productive during periods of high, low, or intermittent market volatility with the intention to be well suited for periods of market crisis.


Featured Sponsor

Gemini Alternative Funds, LLC services the investment community as a Managed Account Platform (Galaxy Plus) working with dedicated managed accounts and co-mingled funds, as well as a structured product platform sponsor. Galaxy Plus provides a comprehensive platform of centralized operational services and distribution of products. The operational services provided directly by Galaxy Plus include transparency, uniform operational setup, risk and guideline management, and liquidity enhancements.


Upcoming Events – Mark Your Calendars!

Talking Hedge: Alternative Strategies
November 20-21, 2019
The Driskill Hotel, Austin, TX

MFA Network 2020
January 27-29, 2020
The Loews Miami Beach Hotel, Miami Beach, FL

Context Summits
January 29-31, 2020
Fontainebleau Hotel, Miami Beach, FL


2019 CTA Challenge Sponsors