Several previously high-flying CTAs suffered another setback last month. Also known as trend-following funds, many are nevertheless enjoying solid years.Most significant: the Mulvaney Global Markets Fund, which lost 10.55 percent in July. This was its worst monthly loss since November 2022, a very rough month for most CTAs in general. Even so, it is up 109.61 percent for the year, perhaps maintaining its status as this year’s top-performing fund. It was up more than 149 percent through May.
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