September 2021 Kettera Strategies Trend Analysis
In the financial landscape of mid-2025, Kettera Strategies, a prominent player in the world of macro trading, has seen a notable shift in its performance across various strategy categories. Let's delve into the key findings from the June 2025 data.
Systematic trend following programs showed a generally positive performance trend in June, with most programs posting gains. However, some programs continued to struggle, extending a performance drought period. This trend was reflected in Kettera's "style baskets," which aggregate monthly returns of various strategy programs on their Hydra platform. These baskets provide a useful comparative framework for understanding how different strategy categories are performing on average relative to each other. It's important to note that these baskets are not directly investible products.
The data regarding Kettera's volatility/options strategies, currency strategies, and commodities specialists (metals & energy) specialists were not explicitly disclosed in the June 2025 report. However, given the general usage of style baskets, we can infer that these strategies are part of the program pools tracked, and their performance can be estimated from the overall basket direction, though explicit monthly return figures or trends were not cited.
In the realm of relative value (RV) strategies, those that allow for occasional, limited net shorting of vol ended the month positively. The energy markets offered more opportunities than usual due to resurgent prices and volatility. On the other hand, most base metals traders had a challenging month, while precious metals traders fared better.
The general volatility in most G10 currencies edged higher, creating opportunities across all time frames and trading styles. This trend was seen in various indices such as the BarclayHedge Currency Traders Index, BTOP FX Traders Index, and the BarclayHedge Discretionary Traders Index.
It's worth mentioning the performance of other indices like the Eurekahedge Long Short Equities Hedge Fund Index, CBOE Eurekahedge Relative Value Volatility Hedge Fund Index, Eurekahedge-Mizuho Multi-Strategy Index, and the Eurekahedge AI Hedge Fund Index, which were not directly related to Kettera's performance but provide a broader perspective of the market trends.
In conclusion, Kettera's systematic trend strategies had a generally positive bounce back in June 2025, although some remain in a performance drought. The other categories—volatility/options, currency, and commodities—are part of the broader strategy pools tracked but lack explicit performance disclosure in the available data. The style baskets serve as an analytical measure rather than a performance benchmark for direct investment. No specific recent public commentary or metrics on volatility or commodity strategies were found in the disclosed reports.
The rise in general volatility in the energy markets presented opportunities for Kettera Strategies' relative value strategies that allow occasional, limited net shorting of vol.
Investing in technology could potentially provide insights as Kettera Strategies might consider implementing automated systems to analyze and trade based on market trends, given the increased opportunities in various time frames and trading styles due to higher volatility in G10 currencies.
