Bets against both financial and commodity markets helped Troy Buckner's NuWave Combined Futures Portfolio turn in a terrific September. The $526.4 million fund returned 10.86% for the month, bringing its year-to-date total to 29.69%. By comparison, the Absolute Return Managed Futures Index rose 0.42% to total 8.55% on the year.
NuWave generated the most significant gains by shorting stock indices and commodities, including energy, base metals and grains. The firm also benefited from long positions in Treasurys and the U.S. dollar.
Buckner founded NuWave Investment Management in February 2000. The firm manages directional positions with short-term, intermediate term