RT Journal Article SR Electronic T1 Look Beyond the Styles of Commodity Trading Advisors JF The Journal of Wealth Management FD Institutional Investor Journals SP 63 OP 67 DO 10.3905/jwm.2004.434567 VO 7 IS 2 A1 Pauline P. Lam YR 2004 UL https://pm-research.com/content/7/2/63.abstract AB Funds of funds managers and their investors can benefit by incorporating diversifying assets like Commodity Trading Advisors (CTAs) into portfolios that hold traditional investments. This will make the portfolios more efficient by further improving the risk-and-return profiles. The limitations in current performance measurements like benchmarking and the traditional Sharpe ratio should be acknowledged and further improved upon. The main challenge in analyzing CTAs and other managed-futures based strategies, such as Global Macro, is to look beyond their styles considering other parameters like portfolio (and instrument) composition, trading strategies, and trade executions. In short, given these complexities, analyzing or understanding CTA's is certainly a challenge.