Crescent Bay Capital Management, Inc.
Conservative Growth Index Program
Principal(s): David Bedford
Strategy: Option Seller / Index Options
Statistical Reports are Subscription Based
Trading Description, Risk Strategy & Background
The Conservative Growth Index Program (CGIP) is a targeted return strategy that has been engineered to focus on achieving a goal of 20% net annual return while keeping risk exposure to a minimum. The program sells weekly put options that are considered tail risk with < 1 delta exposure on the standard pit traded S&P 500 futures option contract. Statistically, < 1 delta translates to the option going into the money less than 1 time in 100 expiration periods. In addition, the strategy goal is to keep margin requirements at 30% or less of account value.
N/A
David is the Founder and Chief Investment Officer of Crescent Bay Capital Management, with over two decades of experience in managed futures and options trading. With a background in biomaterials research at UCSF and a B.S. from Pepperdine, he applies scientific rigor to systematic trading. A registered member of the NFA and CFTC since 2004, David has managed over 500 accounts for individuals and institutions and is known for his adaptable, investor-focused strategies.
Performance
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ROR | Max DD | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 5.03% | 4.18% | 2.27% | – | – | – | – | – | – | – | – | – | 11.90% | 0.00% |
| 2024 | 0.24% | 0.66% | 0.88% | 1.12% | 1.23% | 1.14% | 0.63% | -3.46% | -1.83% | -0.21% | 2.33% | -1.96% | 0.62% | -5.43% |
| 2023 | 1.15% | 1.32% | -4.03% | 1.23% | 0.87% | 1.84% | 1.37% | 1.23% | 0.12% | 0.01% | 1.34% | 1.01% | 7.58% | -4.03% |
| 2022 | -5.89% | 0.66% | 2.23% | -3.64% | 2.29% | -4.94% | 1.58% | 0.28% | -0.75% | 3.76% | 1.19% | 0.44% | -3.26% | -9.26% |
| 2021 | -0.84% | 2.08% | 2.03% | 0.27% | 1.40% | 0.54% | 1.21% | 1.25% | 0.50% | 1.27% | -5.22% | 2.71% | 7.19% | -5.22% |
| 2020 | -1.09% | -8.03% | -6.70% | -0.07% | 1.18% | 1.20% | 1.00% | 0.76% | 1.50% | -2.10% | 0.77% | 0.97% | -10.64% | -15.19% |
| 2019 | 1.47% | 1.52% | 1.48% | 1.26% | 0.99% | 0.98% | 0.53% | 1.47% | 0.86% | 1.30% | 0.31% | 1.30% | 14.32% | 0.00% |
| 2018 | 1.56% | -13.24% | 1.74% | 1.93% | 1.47% | 1.56% | 1.73% | 1.55% | 1.14% | -4.83% | 1.77% | 1.81% | -2.98% | -13.24% |
| 2017 | – | – | – | – | 1.67% | 2.08% | 1.20% | 2.51% | 2.24% | 1.43% | 1.06% | 1.25% | 14.25% | 0.00% |
Accounting Notes: May-June 2017 proprietary performance has been pro forma adjusted to account for maximum management and incentive fees.
PAST PERFORMANCE DOES NOT GUARANTEE FUTURE SUCCESS. THERE IS A RISK OF LOSS IN FUTURES TRADING.>
THERE IS UNLIMITED RISK OF LOSS ASSOCIATED WITH WRITING SHORT OPTION CONTRACTS.
Accounting Notes:
May-June 2017 proprietary performance has been pro forma adjusted to account for maximum management and incentive fees.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.