United States Commodity Index Funds Trust Reports September Statements for USCI and CPER

What happened

United States Commodity Index Funds Trust issued September statements for USCI and CPER under Commodity Exchange Act Rule 4.22. USCI reported net income of $11.35 million, while CPER reported a net loss of $4.68 million. CPER also recorded $34.18 million in withdrawals and $1.96 million in additions.

Confirmed

Global impact / market context

CPER's loss and heavy withdrawals reduced the money available in that fund, which means less cash held for redemptions and trading. USCI's profit shows the two funds performed very differently, so investors holding both should review each fund's results separately.

Analyst inference

These funds track commodity indexes, so their results and money flows can reflect shifting demand for commodities. Rule 4.22 reports, which are required periodic statements, give investors a monthly view of profit, fund size and share value as market conditions change.

Analyst inference

What to watch

1. Future monthly statements for USCI and CPER will show whether the income and loss reported in September continue in later periods. Confirmed
2. Investors could compare CPER's withdrawals with USCI's flows to judge whether money is leaving commodity funds or moving between them. Proposed
3. Watch CPER's net asset value per share for pressure if withdrawals of borrowed money or investor cash continue at September's pace. Analyst inference

Evidence

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