CHICAGO (HedgeWorld.com)–It’s not a golf tournament or a new TV reality show.
The PFG Annual CTA Challenge is not a gimmick, either. It’s not really even a competition. Run by Peregrine Financial Group Inc., with help from commodity trading adviser Trader Source Inc., this year’s challenge really is about finding the best young CTA managers.
The event already has 30 emerging CTAs–those managing less than US$15 million in assets–signed up to participate. More may be added by the time the challenge starts May 1, PFG President Neil J. Aslin said.
From May through October, PFG and Trader Source will monitor the performance of the young CTAs. On Nov. 1, the one who earns the best risk-adjusted return on a US$50,000 trading account will be declared the winner. That winner will be eligible to receive a US$1 million trading account allocation from institutional investors selected by PFG and Trader Source.