BlackRock Asset Allocation Alpha Fund and Winton Global Alpha Fund were both rated five stars in their peer groups, in which overall there were no fund rating upgrades or downgrades. 

The review has analysed 14 headline products, with three ‘NEW’ ratings on offerings from BNY Mellon, Man AHL, and Taurus. 

S&P Fund Services analyst Michael Armitage said: “Managed futures and global macro directional strategies highlighted their alternative return profile for investors with positive performance in the third quarter against the S&P/ASX 300 Accumulation Index result of -12%”. 

“Globally, the CTA manager indices were positive for the tumultuous third quarter and locally several of the funds offered to retail investors had very attractive positive returns,” said Mr Armitage. 

S&P is witnessing increased interest in the peer group after managed futures and directional macro products put in good performance during the GFC, and we note large FUM inflows both locally and globally into these strategies. 

“With continued strength of performance for these strategies in volatile and negative equity periods, we will expect continued uptake in consultant and adviser asset-allocation models and investor-driven demand,” said Mr Armitage. 

The long-only commodity funds continue to attract investor interest, especially gold-focused investments.

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