Regaining lost ground


CTAs have had a tough year, challenged not only by idiosyncratic events like the London bombings and Hurricane Katrina but also by few discernable trends in fundamental valuations. In August, though, more funds than not seemed to get it right. On the back of an upward spike in energy prices, the strategy gained 0.76% for the month to put median returns closer to par for the year (at -0.41%), according to research from Absolute Return.

Many large managers showed solid gains. James Simons' Medallion International rose about 1.9%, for a year-to-date return of roughly 19.36%. Man AHL Diversified