Key Takeaways
- • Bowmoor Capital's Global Alpha Fund won The Hedge Fund Journal's CTA and Discretionary Trader Awards 2025 for best performance across 1, 2, 3, 4, and 5-year periods ending December 2024 in the Trend Follower category ($100m–$200m AUM).
- • Global Alpha delivered 11.65% returns in 2025, outperforming the SG Trend Index by over 900 basis points, demonstrating consistent outperformance in both strong trend-following years (2022) and weak years (2024–2025 when benchmarks returned ~2%).
- • In July 2024, Bowmoor partnered with Le Mans Trading to launch the Bowmoor Global Alpha Aggressive Fund (BGAAF), a higher-volatility variant designed to triple returns every five years versus the base strategy's target of doubling returns over the same period.
- • The commodity-heavy positioning of Global Alpha differentiates it from peer CTAs dominated by equity and fixed-income trends, contributing to superior performance during both recent volatility cycles and the extended post-GFC QE era.
Summary
Bowmoor Capital's Global Alpha Fund has established itself as a consistent outperformer within the managed-futures space, securing recognition from The Hedge Fund Journal's 2025 CTA and Discretionary Trader Awards for best performance across multiple time horizons ending December 2024. The fund competed in the Trend Follower strategy category covering managers with $100 million to $200 million in assets under management.
The fund's track record demonstrates resilience across varying market regimes. In 2025, Global Alpha returned 11.65%, decisively outperforming the SG Trend Index by over 900 basis points despite a challenging first four months when the fund was down 1.55% while the benchmark gained 9.33%. Most notably, 2024 marked the fund's best year to date, exceeding even its 2022 performance—a particularly noteworthy result given that 2024 and 2025 were mediocre years for trend following generally, with benchmark indices returning approximately 2%. The strategy has also demonstrated durability during extended periods of unconventional monetary policy, performing well throughout the post-2008 financial crisis quantitative easing era when many competing CTAs faced headwinds.
Bowmoor's outperformance appears tied to its commodity-heavy allocation strategy, which diverges materially from peer CTAs that typically emphasize equity and fixed-income trend exposure. This positioning has enabled the fund to capture opportunities unavailable to more traditional trend-following implementations.
In July 2024, Bowmoor expanded its product suite by partnering with Le Mans Trading to launch the Bowmoor Global Alpha Aggressive Fund (BGAAF). This higher-volatility variant targets tripling returns every five years, compared to Global Alpha's objective of doubling returns over the same period. According to Tyler Resch, Founding Partner and Managing Member at Le Mans Trading, "Historically, Bowmoor has done a great job of riding trends and capturing profits with smaller drawdowns than many of their peers"—a characteristic the partnership aims to amplify through increased leverage and risk exposure.
The fund's track record demonstrates resilience across varying market regimes. In 2025, Global Alpha returned 11.65%, decisively outperforming the SG Trend Index by over 900 basis points despite a challenging first four months when the fund was down 1.55% while the benchmark gained 9.33%. Most notably, 2024 marked the fund's best year to date, exceeding even its 2022 performance—a particularly noteworthy result given that 2024 and 2025 were mediocre years for trend following generally, with benchmark indices returning approximately 2%. The strategy has also demonstrated durability during extended periods of unconventional monetary policy, performing well throughout the post-2008 financial crisis quantitative easing era when many competing CTAs faced headwinds.
Bowmoor's outperformance appears tied to its commodity-heavy allocation strategy, which diverges materially from peer CTAs that typically emphasize equity and fixed-income trend exposure. This positioning has enabled the fund to capture opportunities unavailable to more traditional trend-following implementations.
In July 2024, Bowmoor expanded its product suite by partnering with Le Mans Trading to launch the Bowmoor Global Alpha Aggressive Fund (BGAAF). This higher-volatility variant targets tripling returns every five years, compared to Global Alpha's objective of doubling returns over the same period. According to Tyler Resch, Founding Partner and Managing Member at Le Mans Trading, "Historically, Bowmoor has done a great job of riding trends and capturing profits with smaller drawdowns than many of their peers"—a characteristic the partnership aims to amplify through increased leverage and risk exposure.
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