Strategy Heat Map for Kettera - March 2023 Edition
In March 2025, Kettera Strategies' discretionary macro strategies generally delivered positive returns, aligning with the broader trend among discretionary global macro managers observed during that period. However, the performance of the firm's systematic trend, commodities (agricultural, metals/energies), and currency strategies for March 2025, as well as detailed comparisons to benchmarks, could not be definitively determined from the available data.
Managers with a long sugar exposure performed well in commodities trading, while directionally short natural gas was a winner in the energy sector. Industrial metals were more challenging to navigate, and grain traders faced high volatility, making soybean trading particularly difficult. In contrast, the better performing sectors in metals were found in the precious metals.
The energy complex, as a whole, appeared to perform well in March. Directional and long-biased spread traders in livestock markets had a good month, especially in live cattle. On the other hand, currencies were the second worst performing sector in systematic futures trading.
Discretionary macro managers navigated interest rate markets well in March, with many betting on bond rallies. This trend accelerated the dollar's weakness in most FX programs. Many global macro managers felt the late 2022 inflation mania was overblown. There wasn't much of a difference in performance between G10 and Emerging Market FX specialists in March.
The bond rally reversed dramatically due to the banking crisis in March, causing a shift in the "yields-rising / bonds falling" move. Equities markets were a detractor for most in March, as the rally took many by surprise.
The "style baskets" created by Kettera Strategies are classifications drawn for programs on the Hydra Platform. These baskets are meant purely for analysis and comparison purposes, not to stimulate interest in any underlying or associated program. It's important to note that hypothetical performance results for style baskets have many inherent limitations, including the fact that they are generally prepared with the benefit of hindsight.
Indices and financial benchmarks shown are for illustrative purposes only and may be updated from time to time. They do not reflect the impact of advisory fees.
The views expressed in this article are those of the author and do not necessarily reflect the views of AlphaWeek or its publisher, The Sortino Group.
Read also:
- Elon Musk Acquires 26,400 Megawatt Gas Turbines for Powering His AI Project, Overlooks Necessary Permits for Operation!
- U Power's strategic collaborator UNEX EV has inked a Letter of Intent with Didi Mobility to deploy UOTTA(TM) battery-swapping electric vehicles in Mexico.
- Global Gaming Company, LINEUP Games, Moves Into Extensive Global Web3 Multi-Platform Gaming Network
- Toyota strikes a deal in Shanghai for a solely owned Lexus electric vehicle production plant.
