Rcube Asset Management SAS
Aquanthus Core Program
Principal(s): Olivier Alvarez
Strategy: Systematic Macro-Risk
Investment Restrictions: 4.7 Exempt - QEPs Only
Statistical Reports are Subscription Based
Trading Description, Risk Strategy & Background
Aquanthus Core is a low-frequency, rules-based systematic strategy engineered to harness long-term capital growth and asset appreciation through full market cycles. The approach emphasizes disciplined execution over short-term speculation, seeking to generate consistent returns by adhering to a structured investment framework that prioritizes long-term performance and efficiency. It is predominantly long-only and is characterized by minimal portfolio turnover, so as to preserve strategic positioning. Rcube Asset Management has integrated the Aquanthus Core program to its investment capabilities since June 2025.
Olivier Alvarez has over 15 years experience in trading, risk management and quantitative analysis.He has been actively implementing his risk premia investment strategy through managed futures for his own account. Olivier Alvarez was head of the quantitative team for BNP Paribas Asia - Fixed income. He also served as Managing Director at BGC Partners, a leading interdealer broker, where he oversaw the research and development of Capitalab, a fintech unit specialized in optimizing the regulatory capital of financial institutions. Olivier started his career in academia as an associate professor in Applied mathematics. Olivier Alvarez graduated from Ecole Polytechnique. He holds a PhD in Applied Mathematics from University of Paris Dauphine and a MBA.
Performance
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ROR* | Max DD | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 6.09% | 7.13% | -9.39% | 5.60% | 3.85% | – | – | – | – | – | – | – | 13.28% | -9.39% |
| 2025 | – | – | – | – | – | 0.72% | -0.95% | 2.33% | 9.08% | 5.58% | 0.93% | -0.05% | 17.64% | -0.95% |
Track Record Compiled By: CTA Outsource Solution
Accounting Notes: From January 2016 through January 2019 the Performance Table reflects Proprietary performance using the time weighted method. From February 2019 through July 2019 the Performance Table reflects non customer account trading and from August 2019 through current, the Performance Table reflects actual Client performance using the Only Accounts Traded method.
PAST PERFORMANCE DOES NOT GUARANTEE FUTURE SUCCESS. THERE IS A RISK OF LOSS IN FUTURES TRADING.
Risk Disclosure
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.