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PQTDX remains impressive;YIKES update, POP and down -3.1% .....currencies, I will guess. YTD gone.

catch22catch22
edited January 2015 in Fund Discussions
Pimco's PQTDX remains impressive; and for the first time in a very long time we have some of our portfolio in pure cash, awaiting a new home.:)

I note only this fund, as it is one we monitor.

PQTDX compared to a few random funds chart. You may add and remove tickers to compare and move the day slider to 10 for a YTD view.

I am also surprised with the decent positive returns YTD for some managed funds; although it is obvious that not all are having fun, early in 2015.

This is M*'s managed futures list. Click YTD column to sort returns by %.

Take care,
Catch

Comments

  • mnzdedwardsmnzdedwards
    According to Pimco's website, the assets of PQTDX consist of:

    Percent of Risk Allocation as of 12/31/14
    Rates 41.83
    Currency 38.81
    Commodity 13.42
    Equity 6.36
    Volatility -0.42

    https://investments.pimco.com/Products/pages/659.aspx

    Click "Portfolio" tab. It appears PQTDX is a current play on interest rates and currency. Not my cup of tea. Many bond managers got burned in 2014 when they thought the only direction for yields was "up." Could managers in 2015 be making a similar mistake by continuing to "bet" on a stronger dollar? I hope for those investors in this fund that the managers are correct.

    Mike_E
  • catch22catch22
    Hi @mnzdedwards

    I don't dismiss their methods or all of the tools that they have available to move in this special market area. One needs to be aware that these type of funds are not plain jane equity funds.
    But charting the performance of PQTDX , during its short life (1 year), indicates they have had success with their formulas during a decent equity market in 2014 and a rough equity market start this year. During this one year period has found many swings in many market areas: equity, bond and currency.

    Thank you for your thoughts with this.
    Regards,
    Catch
  • scott
    It's a managed futures fund - a category that has been dismal (in the mutual fund space, not so much the hedge fund space) for a number of years now. All of the sudden Pimco comes out with another one, which has managed to be quite surprising. This fund will not be consistent (and isn't something I'd recommend a giant position in) and I'm sure it will be another MFO fund that does well for a while and then doesn't and people will flip out. Again though, I'm impressed with it so far.
  • AndyJ
    About the PQTIX portfolio allocation, it's all over the place from month to month. Here's the range of exposures from April (when I first started following it) through December 2014, per the monthly spreadsheets:

    Equity 2-54%
    Currencies 16-43%
    Rates 0-72%
    Commodities 0-13%
    Volatility 0-23%
  • catch22catch22
    Hi @AndyJ

    Thank you. Yes, the fund can travel many pathways, eh?

    Take care,
    Catch
  • mnzdedwardsmnzdedwards
    Not a good day for PQTIX. Down 3.1%

    Yikes.
  • scott
    mnzdedwards said:

    Not a good day for PQTIX. Down 3.1%

    Yikes.

    Probably due to FX movements.
  • catch22catch22
    @mnzdedwards and @scott

    Ha !!! Was just posting when I saw you two beat me to the punch.
    Yes. I will assume the currency trades with the flips from Switzerland and elsewhere popped a lot of the managed futures fund today. I have not looked at some of the other ones that did have a decent YTD.

    I have adjusted the title line...............

    Thank you to both for being on the watch, too.

    Catch
  • AndyJ
    QSPIX was down big, also: -2%. With the cap gone, the Swiss franc's move up was wild. The C'shares etf (FXF) was up 17%.
  • JohnChisum
    Regarding the cash component of this fund, M* shows this statistic. The first number is net percentage, second is percentage short, and third is percentage long.
    Cash -106.15 237.97 131.83
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