CTA Report

Report Start Date Report End Date

Quanify GmbH - Chelton Wealth / Currency Overlay - G10 Major Currencies & Crosses
Accepting New Investors: Yes Supply & Demand / Currencies, Gold, WTI & Indices
Non-US Investors Only

Available to Non-US Investors Only. Results are gross performance and do not reflect management and incentive fees. - Performance is Based on Proprietary Trading

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2019 1.13% 5.26% -0.85% -1.33% -0.62% 2.02% 1.69% 2.99% 1.73% 0.69% 1.67% 0.46%

2020 0.80% -2.45% 0.00% 2.22% 1.81% 1.11% 2.00% 1.39% -0.83% 3.33% 2.45% 1.21%

2021 -1.36% 1.38% 1.65% 0.03% 2.25% 1.12% -0.16% 0.70% 2.13% 1.96% 1.82% 2.08%

2022 1.43% 2.18% 0.62% 1.37% 1.88% 1.15% -0.28% 1.94% 0.16% 0.36% 4.16% 1.58%

2023 -0.11% 2.57% -0.33% 2.82% 1.76% -2.12% -1.94% 1.21% 0.77% -0.19% 1.61% 4.29%

2024 5.38% 3.02% -2.12% 0.71% 1.45% 1.98% 0.94% -0.58% 0.94%

2019 2020 2021 2022 2023 2024 YTD
ROR 15.67% 13.70% 14.40% 17.78% 10.63% 12.15%
Max DD -2.79% -2.45% -1.36% -0.28% -4.02% -2.12%

The Notes Below Are An Integral Part of this Report | Track Record Compiled By: IQ-EQ Fund Administrator

Program Description: The trading program utilizes a proprietary trading strategy that is based on a combination of fundamental and technical analysis of trend and momentum. Therefore, while there is a strict rule- based strategy in place, trading is still carried out manually and requires the initial decision whether to execute the systematic strategy or not. This allows the strategy to quickly adapt to market conditions and volatility, which in our opinion makes it more robust and sustainable long-term.

Investment Information

Program Start Date Mar-2016

Minimum Investment 250,000

Management Fee 2.00%

Incentive Fee 20.00%

Margin 9%-18%

Round Turns per Million 0

Currency Euro

NFA No: #

Trading Strategy Market Segment

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Program Statistics
Peak-to-Valley Drawdown (1) (May 2023 - Jul 2023) -4.02%

Worst Monthly Return (Feb 2020) -2.45%

Current Losing Streak 0.00%

Average Monthly Return 1.16%

Annualized Statistics

Annualized Compounded ROR (2) 14.68%

Standard Deviation 5.47%

Sharpe Ratio (4) 2.36

36 Month Calmar Ratio (3) 3.91

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. TRADING FUTURES AND OPTIONS INVOLVES SUBSTANTIAL RISK OF LOSS AND IS NOT SUITABLE FOR ALL INVESTORS. THERE ARE NO GUARANTEES OF PROFIT. PROSPECTIVE CLIENTS SHOULD NOT BASE THEIR DECISION TO INVEST SOLELY ON THE PAST PERFORMANCE PRESENTED HEREIN.

Ascent Capital Management
311 S. Wacker Drive - Suite 600 * Chicago, IL 60606
Office: 312-283-3350 Email: [email protected] | Web Address: http://www.ascentcm.com

Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2019	1.13%	5.26%	-0.85%	-1.33%	-0.62%	2.02%	1.69%	2.99%	1.73%	0.69%	1.67%	0.46%
2020	0.80%	-2.45%	0.00%	2.22%	1.81%	1.11%	2.00%	1.39%	-0.83%	3.33%	2.45%	1.21%
2021	-1.36%	1.38%	1.65%	0.03%	2.25%	1.12%	-0.16%	0.70%	2.13%	1.96%	1.82%	2.08%
2022	1.43%	2.18%	0.62%	1.37%	1.88%	1.15%	-0.28%	1.94%	0.16%	0.36%	4.16%	1.58%
2023	-0.11%	2.57%	-0.33%	2.82%	1.76%	-2.12%	-1.94%	1.21%	0.77%	-0.19%	1.61%	4.29%
2024	5.38%	3.02%	-2.12%	0.71%	1.45%	1.98%	0.94%	-0.58%	0.94%

	2019	2020	2021	2022	2023	2024 YTD
ROR	15.67%	13.70%	14.40%	17.78%	10.63%	12.15%
Max DD	-2.79%	-2.45%	-1.36%	-0.28%	-4.02%	-2.12%

Time Window Analysis

Length	Best	Average	Worst
1 mo	5.4%	1.2%	-2.5%
3 mo	13.2%	3.5%	-2.9%
6 mo	15.7%	7.2%	-0.7%
12 mo	20.6%	14.7%	6.9%
18 mo	30.6%	23.1%	16%
24 mo	39.1%	32.4%	23.6%
36 mo	61.8%	53.4%	44.7%

Historical Drawdown and Recoveries***

Start	Depth	Length	Recovery	End
Jun-23	-4.02%	2 mo	5 mo	Dec-23
Mar-19	-2.78%	3 mo	2 mo	Jul-19
Feb-20	-2.45%	2 mo	2 mo	May-20
Mar-24	-2.12%	1 mo	2 mo	May-24
Jan-21	-1.36%	1 mo	1 mo	Feb-21
Sep-20	-0.83%	1 mo	1 mo	Oct-20

Comparisons	Program	AG CTA Index
Annualized Compound ROR	14.68%	5.16%
Cumulative Return	119.86%	33.53%
Cumulative VAMI (5)	2199	1335
Largest Monthly Gain	5.38%	2.99%
Largest Monthly Loss	-2.45%	-1.42%
Correlation	—	0.024
Last 12 Months	18.62%	6.41%
Last 36 Months	54.86%	14.08%

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Ascent Capital Management
311 S. Wacker Drive - Suite 600 * Chicago, IL 60606
Office: 312-283-3350 Email: [email protected] | Web Address: http://www.ascentcm.com

+ NOTES: Returns are based on proprietary accounts. Client accounts will be traded in like fashion. Results may differ, i.e., broker's spread and execution charges, fees, swap rates, slippage/execution delay, asset/product offering / deposit and risk settings.

The commissions and fees incurred on the purchase or sale of specific financial product illustrated are not included in the performance shown.

Disclosure
OTC Derivatives trading are high-risk investments. OTC Derivatives are leveraged products that can result in losses exceeding your initial deposit. Trading OTC Derivatives on margin carries a high level of risk, and may not be suitable for all individuals. The high degree of leverage offered can work against you as well as for you.

This is not a solicitation to invest and you should carefully consider your financial situation as to the suitability to your situation prior to making any investment or entering into any transaction. You should make yourself aware of all the risks associated with OTC Derivatives trading and seek advice from an independent financial advisor if you have any questions or concerns.

Past performance is not indicative of future results, returns may vary according to market conditions. Trading OTC Derivatives is speculative and may involve the loss of principal; therefore, funds placed under management should be risk capital funds that if lost will not significantly affect one's personal financial well-being.

No representation is being made that participating in a managed account will necessarily lead to profit. Investors may incur a series of consecutive losses and substantial equity drawdowns that can deplete their funds before the occurrence of any meaningful profit accumulation.

** The drawdown begins in the month listed as start. The length in months of the drawdown is listed under length. The recovery begins in the following month, and the length of the recovery period is listed under recovery. The date listed as end is the month that the program recovered from the drawdown.

Please note that the monthly performance numbers, ROR and Drawdowns are based on end of month values and are not reflective of intramonth volatility.

Statistical Notes

1. Peak to Valley Drawdown ("Maximum Drawdown") is the worst drawdown % loss over the period of 2019-01-31 to 2024-09-30

2. The Annualized Compounded ROR is the average return of an investment over a number of years. It smoothes out returns by assuming constant growth.

3. Calmar Ratio Uses last 36 months of Data

ROR = Rate of Return

AG CTA Index: The Autumn Gold CTA Index is a Non-Investable Index comprised of the client performance of all CTA programs included in the AG database and does not represent the complete universe of CTAs. CTA programs with proprietary performance are not included. Monthly numbers are updated until 45 days after the end of the month. Investors should note that it is not possible to invest in this index.

This report has been prepared from information provided by the Trader and is believed to be reliable. This report should be read in conjunction with the Trader's Disclosure Document.

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. TRADING FUTURES AND OPTIONS INVOLVES SUBSTANTIAL RISK OF LOSS AND IS NOT SUITABLE FOR ALL INVESTORS. THERE ARE NO GUARANTEES OF PROFIT NO MATTER WHO IS MANAGING YOUR MONEY. THERE IS AN UNLIMITED RISK OF LOSS IN SELLING OPTIONS. YOU SHOULD CAREFULLY CONSIDER WHETHER COMMODITY FUTURES AND OPTIONS IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. AN INVESTOR MUST READ AND UNDERSTAND THE MANAGER'S CURRENT DISCLOSURE DOCUMENT BEFORE INVESTING.

Ascent Capital Management
311 S. Wacker Drive - Suite 600 * Chicago, IL 60606
Office: 312-283-3350 Email: [email protected] | Web Address: http://www.ascentcm.com