Tracking CTAs since 1994
CTA Profiles
Tracking CTAs since 1994
Principal(s): Martin Estlander
Strategy: Systematic / Fundamental / Diversified
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Investment Restrictions: 4.7 Exempt - Qualified Eligible Persons Only++
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Estlander & Partners Freedom adopt a systematic trading approach to global and liquid futures and forward markets. Over 120 markets are traded in the programme, where price and fundamental information is used for decision making. The core parts of Freedom are trend following models. Return extraction is based on behavioural biases and cyclical risk premiums as well as changes in global economies. Here, models with holding periods from a few hours up to several months are combined. In the decision making process, data from the underlying market as well as related markets is used. Positions are both long and short. Systematic Fundamental models take further advantage of non-price information in the decision making process. The models provide a diversifying return stream to the trend-following models. Systematic Macro take advantage of global capital flows based on economic trends and extract time-varying risk premia and value opportunities. Risk is balanced in the portfolio with Achilles risk management. It is a forward looking estimation of the worst case outcome (including correlation breakdowns) for each model.
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Estlander & Partners is a Finnish CTA with one of the longest and most impressive track records in Europe. Our integrity, independence, innovative spirit and solid trading experience underpin our commitment to generating superior risk adjusted returns. These qualities have been our guiding principles for the past 20 years and they provide a foundation for the future, enabling us to guide our clients through changing markets. Estlander & Partners manages USD 910 million (8/2012) and employs 55 professionals in Helsinki, Vaasa, Munich and Zurich. Estlander & Partners is registered with the Finnish Financial Supervisory Authority and is a member of the National Futures Association in the United States.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ROR | Max DD | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 0.23% | -1.23% | -3.34% | -4.31% | -4.53% | |||||||||
| 2024 | -4.48% | 5.54% | 6.27% | 0.87% | -2.66% | -4.01% | -2.47% | 0.60% | -1.30% | -2.67% | 0.60% | -4.65% | -8.71% | -15.52% |
| 2023 | 3.41% | -1.87% | -5.75% | 1.66% | 0.62% | 4.23% | 2.37% | -5.13% | 0.55% | -2.28% | 1.84% | 6.32% | 5.36% | -7.51% |
| 2022 | -4.83% | -10.26% | 3.47% | -0.15% | -0.56% | -5.16% | 0.58% | -7.48% | 0.72% | -0.10% | 0.82% | -7.80% | -27.58% | -27.58% |
| 2021 | -2.53% | 7.87% | 2.97% | 2.11% | 1.34% | 2.38% | 0.89% | 1.38% | -3.92% | 2.93% | 2.03% | 0.76% | 19.29% | -3.92% |
| 2020 | 3.76% | -4.06% | 4.28% | 3.35% | -0.53% | 1.86% | 2.74% | -2.08% | -0.70% | -2.71% | 4.38% | 2.45% | 12.97% | -5.4% |
| 2019 | -4.88% | -0.08% | 1.50% | 1.89% | -2.90% | 1.13% | 4.44% | 9.24% | -7.16% | -2.28% | 1.17% | 3.37% | 4.48% | -9.28% |
| 2018 | 6.59% | -2.71% | 0.31% | -0.40% | -5.11% | -2.04% | 0.60% | 2.35% | -2.71% | -5.11% | -6.92% | 6.65% | -9.12% | -20.06% |
| 2017 | -2.84% | 0.38% | 0.99% | -0.34% | -2.01% | -1.40% | 2.55% | 1.16% | -2.27% | 5.51% | -1.70% | -1.33% | -1.59% | -5.16% |
| 2016 | 2.65% | 3.52% | -3.49% | -1.65% | -3.03% | -1.89% | 1.65% | -4.32% | -1.02% | -3.08% | 4.86% | 2.45% | -3.82% | -15.75% |
| 2015 | 6.45% | 0.49% | 0.04% | -2.20% | -1.79% | -2.58% | 1.81% | -2.05% | 1.56% | -3.15% | 3.64% | -2.17% | -0.42% | -8.22% |
| 2014 | -2.57% | 2.30% | -3.99% | -0.38% | 3.97% | 0.77% | -0.15% | 1.46% | 4.03% | -1.27% | 4.98% | 2.96% | 12.33% | -4.67% |
| 2013 | 4.84% | 1.39% | -0.24% | 3.27% | -0.74% | -2.12% | -1.98% | -5.62% | -2.99% | 1.38% | -0.61% | 0.68% | -3.13% | -12.81% |
| 2012 | 0.53% | 3.05% | -3.98% | 1.52% | 3.92% | -6.32% | 6.14% | -1.37% | -0.09% | -6.83% | -1.90% | 1.12% | -4.97% | -10.45% |
| 2011 | -1.10% | 2.94% | -1.07% | 4.98% | -8.08% | -2.42% | 1.69% | 2.59% | 0.81% | -6.69% | -4.03% | 0.08% | -10.63% | -15.54% |
| 2010 | -0.65% | 3.02% | 2.38% | 4.46% | -1.64% | 5.44% | 13.52% | -1.64% | ||||||
| Years | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
|---|---|---|---|---|---|---|
| ROR | 13.52% | -10.63% | -4.97% | -3.13% | 12.33% | -0.42% |
| Max DD | -1.64% | -15.54% | -10.45% | -12.81% | -4.67% | -8.22% |
| Years | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
|---|---|---|---|---|---|---|
| ROR | -3.82% | -1.59% | -9.12% | 4.48% | 12.97% | 19.29% |
| Max DD | -15.75% | -5.16% | -20.06% | -9.28% | -5.40% | -3.92% |
| Years | 2022 | 2023 | 2024 | 2025 YTD |
|---|---|---|---|---|
| ROR | -27.58% | 5.36% | -8.71% | -4.31% |
| Max DD | -27.58% | -7.51% | -15.52% | -4.53% |
PAST PERFORMANCE DOES NOT GUARANTEE FUTURE SUCCESS. IN SOME CASES MANAGED ACCOUNTS ARE CHARGED SUBSTANTIAL COMMISSIONS AND ADVISORY FEES. THOSE ACCOUNTS SUBJECT TO THESE CHARGES, MAY NEED TO MAKE SUBSTANTIAL TRADING PROFITS JUST TO AVOID DEPLETION OF THEIR ASSETS. EACH COMMODITY TRADING ADVISOR ("CTA") IS REQUIRED BY THE COMMODITY FUTURES TRADING COMMISSION ("CFTC") TO ISSUE TO PROSPECTIVE CLIENTS A RISK DISCLOSURE DOCUMENT OUTLINING THESE FEES, CONFLICTS OF INTEREST AND OTHER ASSOCIATED RISKS. A HARD COPY OF THESE RISK DISCLOSURE DOCUMENTS ARE READILY AVAILABLE BY CLICKING ON EACH CTA'S "REQUEST DISCLOSURE DOCUMENT" BUTTON.
THE FULL RISK OF COMMODITY FUTURES, OPTIONS AND FOREX TRADING CAN NOT BE ADDRESSED IN THIS RISK DISCLOSURE STATEMENT. NO CONSIDERATION TO INVEST SHOULD BE MADE WITHOUT THOROUGHLY READING THE DISCLOSURE DOCUMENT OF EACH OF THE CTAS IN WHICH YOU MAY HAVE AN INTEREST. REQUESTING A DISCLOSURE DOCUMENT PLACES YOU UNDER NO OBLIGATION AND EACH DOCUMENT IS PROVIDED AT NO COST. THE CFTC HAS NOT PASSED UPON THE MERITS OF PARTICIPATING IN ANY OF THE FOLLOWING PROGRAMS NOR ON THE ADEQUACY OR ACCURACY OF THE DISCLOSURE DOCUMENTS. OTHER DISCLOSURE STATEMENTS ARE REQUIRED TO BE PROVIDED TO YOU BEFORE AN ACCOUNT MAY BE OPENED FOR YOU.
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. PROSPECTIVE CLIENTS SHOULD NOT BASE THEIR DECISION ON INVESTING IN THIS TRADING PROGRAM SOLELY ON THE PAST PERFORMANCE PRESENTED. ADDITIONALLY, IN MAKING AN INVESTMENT DECISION, PROSPECTIVE CLIENTS MUST ALSO RELY ON THEIR OWN EXAMINATION OF THE PERSON OR ENTITY MAKING THE TRADING DECISIONS AND THE TERMS OF THE ADVISORY AGREEMENT INCLUDING THE MERITS AND RISKS INVOLVED.
AUTUMN GOLD CTA INDEXES ARE NON-INVESTABLE INDEXES COMPRISED OF THE CLIENT PERFORMANCE OF CTA PROGRAMS INCLUDED IN THE AUTUMN GOLD DATABASE AND DO NOT REPRESENT THE COMPLETE UNIVERSE OF CTAS. INVESTORS SHOULD NOTE THAT IT IS NOT POSSIBLE TO INVEST IN THESE INDEXES.
