Weaker trends in late June force funds to retrace gains

Managed futures trading had a mixed month in June as strong trends in the first two weeks turned unfavourable in the second fortnight forcing funds to retrace many of the gains made.

Mark Rzepczynski, president and chief investment officer at CTA manager JWH Henry, says June started out as a promising month for the firm's Strategic Allocation Program (SAP) but turned 'abruptly negative during the last two weeks.'

While the managed futures section of the CSFB/Tremont hedge fund index was down 2.2