Strategic Heat Map by Kettera - July 2020 Edition
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In the world of Hedge Funds and Managed Futures, July 2025 was a month of significant returns, according to a guest article by an industry expert. The article, published by AlphaWeek and The Sortino Group, highlights the performance of various strategies and asset classes.
One of the standout performers was systematic trend programs. These programs outperformed discretionary fundamental managers in foreign exchange (FX) strategies, with overall FX programs showing generally positive returns. This success can be attributed to the ability of systematic trend programs to adapt to market changes quickly and effectively.
Discretionary macro strategies also performed positively but were outpaced by systematic strategies in FX. The performance was influenced more by behavioral factors, indicating the importance of human judgement and decision-making in these strategies.
In the realm of metals & energy specialists, the article did not provide explicit July 2025 performance data from Kettera Strategies. However, it was noted that both spread/RV traders and directional programs in this sector had profitable numbers, particularly those long precious metals.
The performance of equity long-short strategies was not detailed in the available results.
The Eurekahedge Long Short Equities Hedge Fund Index, Eurekahedge-Mizuho Multi-Strategy Index, and the CBOE Eurekahedge Relative Value Volatility Hedge Fund Index were among the benchmarks mentioned in the article. The BarclayHedge Currency Traders Index, BTOP FX Traders Index, Hedge Fund Intelligence Global Macro Index, HFI Currency Index, Societe Generale Trend Index, SG CTA Index, and Societe General Short-term Traders Index were also referenced.
For illustrative purposes, the article highlighted the S&P GSCI Metals & Energy Index and S&P GSCI Ag Commodities Index. It's important to note that the various indices and benchmarks mentioned are for illustrative purposes only and do not represent actual investments.
The article also discussed the challenges faced by model-driven quant macro managers in July. These managers faced obstacles in sectors like fixed income and energy. In energy, choppy sideways markets presented a challenge to directional managers, but most energy spread programs fared well.
It's worth noting that hypothetical performance results have many inherent limitations and do not fully account for the impact of financial risk in actual trading.
The "style baskets" referenced in the article are research tools created by Kettera for analysis and comparison purposes, not investible products or index products.
Lastly, the article mentioned the Eurekahedge AI Hedge Fund Index, indicating a growing interest in artificial intelligence in the hedge fund industry.
In conclusion, July 2025 was a month of varied performance across different strategies and asset classes in the Hedge Funds and Managed Futures sector. Systematic trend-following programs especially in FX emerged as the most clearly highlighted top performers from Kettera’s July 2025 heat map, while discretionary macro also performed well but less strongly. The performance of metals & energy specialists and equity long-short strategies was not detailed in the accessible data.
- In the realm of finance and investing, there seems to be a growing trend towards data-and-cloud-computing technology, with model-driven quant macro managers increasingly leveraging this technology to adapt to market changes, as seen in July 2025.
- As technology continues to evolve and play a more significant role in the hedge fund industry, it is possible that investing strategies could become more streamlined and efficient, potentially influencing the performance of various asset classes, such as those highlighted in the AlphaWeek and The Sortino Group's article on July 2025.
