Tracking CTAs since 1994
CTA Profiles
Tracking CTAs since 1994
Principal(s): Bruce Sinclair
Strategy: Discretionary / Spreads / Ags
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Investment Restrictions: 4.7 Exempt - QEPs Only++
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Spreads are selected according to supply and demand trends that are correlated to historical behavior. The program is not defined as trend following as market orders are in both directions. The program only uses spreads, or long spread options. Naked futures positions are not used but may be used in adverse situations to stabilize exposure. Commodity interests typically traded have been selected for historical patterns and the expectation that the fundamentals will eventually drive the market.
The relationship between inter delivery months are not constant and change as markets move from contango to backwardation. As the crop enters production season the market is volatile to weather changes, supply and demand and other factors. Not all inter delivery months are affected in the same way but they are correlated. Weather has seasonal characters and the effects of this are seen in the market price. Anticipation of these seasonal tendencies with risk control at market entry gives the opportunity to implement strategies that have a defined risk.
Defining the risk of the strategy is the main objective of the analysis so as to create entry orders. The managers aim to reduce the risk to predetermined levels or worst-case scenarios, focusing on the big five grain commodities that are the bulk of the exposure. Corn, Wheat, Soybeans, Soybean oil and Soybean meal all have seasonal tendencies and may be affected by the same weather patterns but in different ways.
Brent Trading (PTY) LTD ("Brent Trading") was formed as a Limited Liability Company in the state of
South Africa on May 2, 2002 by Bruce Sinclair. ("Mr. Sinclair"). Brent Trading was created to register as
a member of the JSE Johannesburg Securities Exchange in 2002 and as a Commodity Trading Advisor
("CTA") with the Commodity Futures Trading Commission ("CFTC") in 2021. The company was also a
Trading Participant of the ICE Intercontinental Exchange from mid 2006 to early 2012. The company has
never been used for any other business purpose and has no other outside operating history.
Mr. Sinclair is the Trading Principal of Brent Trading (PTY) LTD. Mr. Sinclair was listed as a principal on
May 11, 2021, and became registered as an associated person of Brent Trading (PTY) LTD on May 24,
2021. Mr. Sinclair is an Owner and Director of Brent Trading (PTY) LTD. He is a highly experienced grain
trader in domestic and international agricultural products and has over 25 years of experience in the
commodities markets. Mr. Sinclair holds an honors degree in Agriculture from University of Pretoria, South
Africa.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ROR | Max DD | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | -4.88% | -4.88% | -9.52% | -9.52% | |||||||||||
| 2024 | -2.15% | -0.81% | 0.79% | -0.47% | 2.87% | 5.12% | 0.81% | 2.57% | 1.81% | -3.33% | 2.07% | 0.37% | 9.76% | -3.33% | |
| 2023 | 2.47% | 1.41% | 0.77% | 0.72% | 0.29% | 2.22% | 3.26% | -3.87% | -1.79% | 0.13% | 0.18% | 2.62% | 8.5% | -5.59% | |
| 2022 | 2.01% | -5.97% | 1.66% | 1.75% | -3.43% | 4.61% | 0.86% | -0.45% | -0.69% | -0.71% | -0.72% | 2.66% | 1.14% | -6.07% | |
| 2021 | 1.62% | 3.78% | 0.99% | 1.11% | -0.05% | 2.05% | 7.41% | 17.98% | -0.05% | ||||||
| Years | 2021 | 2022 | 2023 | 2024 | 2025 YTD |
|---|---|---|---|---|---|
| ROR | 17.98% | 1.14% | 8.50% | 9.76% | -9.52% |
| Max DD | -0.05% | -6.07% | -5.59% | -3.33% | -9.52% |
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.
