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Yuan Sheng Asset Management Co: Systematic Strategy Is The Mainstream Strategy Of Global CTA.

2011/7/15 14:15:00 40

Asset Management Systemic Strategy Global CTA

"The global CTA (commodity trading consultancy) industry has nearly $300 billion in management assets, CTA has many kinds, the systematic strategy is the biggest one, managing assets of 2000 to 240 billion dollars."

Charles Allard, one of the largest Asset Management Co in the world, has introduced experience to a number of domestic Futures Company directors in recent days, saying that under the condition of huge management assets, the adoption of systematic strategy can help Charles Allard maintain the objectivity of trading decisions, reduce paction response time and reduce paction costs.

"Yuan Sheng is just one.

Systematic strategy

CTA. "

In the 2011 Futures Company executives' seminar, he said that under such a strategy, the company's pactions would not depend on one's judgment, but rather through collecting data and cleaning up and analyzing the data, finding out the rules and forming a series of trading rules, so as to conduct pactions.

"Because this method is more successful, Yuan Sheng currently manages assets of 22 billion 600 million US dollars in the world, of which Yuan Sheng futures fund manages about $7 billion assets."

As the core of Yuan Sheng's assets, the number of researchers in the company accounts for about half of the total number of 200 employees. Compared with the current research department of Futures Company in China, its researchers are composed of people with mathematical and mathematical background, such as mathematics, statistics or even physics, rather than financial background.

"Our researchers do not do basic analysis.

Researcher

For example, the researcher of the company has studied the relationship between rain and stock market trend. In 3 months, he collected data and tried to prove the hypothesis in a scientific way. If the assumption is established, he will put it in the trading system.

"He concluded that the rain had nothing to do with the stock market, but he still got a good bonus. Yuan Sheng asked the researchers to do the research in this way."

"We only have one trading strategy.

Diversification

The trend. "

Kurt Settle, director of Asset Management Co trading at Zeng Yuan Sheng and currently managing director of Yuan Sheng Hongkong company, said that this strategy is to analyze the price trend of the predicted market by making a large amount of data, and make a decision on the operation of the Settle.

But using this strategy in a certain market is difficult to get a better return. In many markets, we can find some price trends at different times, so we can make profits.

According to introducing, Yuan Sheng asset trades all over the world dozens of markets.

"From corn to Treasuries, 24 hours a day, we are trading in a global market at all times."

Seddle said.

In addition to the difference between research methods and domestic futures industry, the trading mode of Yuan Sheng assets is different from that of most so-called futures private placement in China.

According to Seddle, the paction of 95% of Yuan Sheng's assets is programmed trading, and only 5% is done manually.

Its trading team has only 10 employees, including the background personnel and software developers.

"Nowadays, the duties of a trader are a bit like flying an airplane, which is the algorithm of operation."

Seddle said that because most of the paction work was delivered to the computer, the current management of $about 20000000000 assets was easier than the management of US $200 million years ago.

In addition, despite the use of procedural pactions, Yuan Sheng assets mainly adopt the trend strategy, while high-frequency trading accounts for only a small part of the overall strategy.

In terms of asset management, Mr Adam said that the CTA business of the Yuan Sheng mainly includes two ways: fund and management account. The operation of the fund is fully implemented by Yuan Sheng assets, while the management account is operated by the company's agent customers, and it can take some personalized strategies according to the needs of customers, but the management commission will also be improved accordingly.

No matter which asset management form is adopted, the main target customers of Yuan Sheng are institutions, such as pension funds, rather than smaller investors.

There are four suggestions for CTA business to be carried out in China's futures market in the future: first, strengthen the operation of Asset Management Co's compliance department, protect investors' interests as far as possible; second, ensure that pactions are orderly and regular, avoid being influenced by traders' emotional waves; third, they should have proper risk management; fourth, attach importance to background management departments, and employ backstage professionals with strong professional qualities, so as to ensure paction safety.