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Park Avenue Asset Management - CTA REPORT
Report Start Date: Mar-2020 - Report End Date: Nov-2024
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Report Start Date Report End Date


Ahead Capital Management, LLC / Global Macro Tactical Opportunities Strategy
Accepting New Investors: Yes
Global Macro / G5 Equity & Bond Indexes, Currencies, Commodities
4.7 Exempt - QEPs Only



ProForma performance adjusted for a monthly 20% incentive fee.

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2020  5.86% -2.88% 1.53% -0.77% -0.55% -5.81% 1.17% -3.02% 16.34% 0.15%
2021 0.71% -0.72% -0.35% -0.30% 0.53% 1.79% -0.10% -5.57% -1.04% 16.94% 0.68% 6.81%
2022 4.89% 2.65% -0.60% -1.82% 0.64% 2.72% 1.14% 0.31% 1.74% -3.12% 2.72% 1.08%
2023 1.19% -1.34% 1.83% -2.57% 2.82% 3.11% 3.35% 0.86% 0.85% 2.04% 1.23% -1.03%
2024 3.36% -1.75% 1.94% -3.83% 3.76% -1.59% 1.46% -2.82% 0.03% 1.34% 2.43%  

 20202021202220232024
ROR10.92%19.33%12.78%12.85%4.08%
Max DD-10.07%-6.65%-3.12%-2.57%-3.83%

The Notes Below Are An Integral Part of this Report
| Track Record Compiled By: Compliance Supervisors

Program Description: The strategy pursues tactical opportunities in G5 equity and sovereign bond indexes, as well as currencies and commodities.

* We focus on turning points in market narratives, as well as trades around important macro events
* The strategy is directional and is concentrated on 1-2 themes at a time
* Investment decisions factor in economic fundamentals, price action, investor sentiment and positioning, as well as potential price catalysts

Risk management was tightened in Q3 2021 to reflect expectations of growing economic uncertainty and market volatility. As part of that, trading became more catalyst-oriented with smaller trade sizes. As a result, portfolio volatility decreased substantially.


Investment Information
Program Start Date Mar-2020
Minimum Investment 1,000,000
Management Fee 0.00%
Incentive Fee 20.00%
Margin
Round Turns per Million 650
Currency US Dollars
NFA No: #0556742
Trading Strategy       Market Segment      

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Program Statistics
Peak-to-Valley Drawdown (1) (Mar 2020 - Oct 2020) -10.07%
Worst Monthly Return (Aug 2020) -5.81%
Current Losing Streak 0.00%
Average Monthly Return 1.06%
Annualized Statistics
Annualized Compounded ROR (2) 12.55%
Standard Deviation 13.47%
Sharpe Ratio (4) 0.87
36 Month Calmar Ratio (3) 3.20

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.

Park Avenue Asset Management | Manhattan ~ New York City
Toll Free: (877) 611-PAAM | Local: (212) 600-2883 Email: [email protected] | Web Address: http://www.parkavenueassetmgt.com


Park Avenue Asset Management - CTA REPORT
Report Start Date: Mar-2020 - Report End Date: Nov-2024
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Time Window Analysis
Length Best Average Worst
1 mo 16.9% 1.1% -5.8%
3 mo 25.8% 3% -7.6%
6 mo 34.6% 6.3% -7.4%
12 mo 41% 14.5% 1.8%
18 mo 46.9% 23.8% -0.6%
24 mo 56.6% 33.5% 13.8%
36 mo 76.6% 54.2% 39.1%
Historical Drawdown and Recoveries***
Start Depth Length Recovery End
Apr-20 -10.07% 7 mo 1 mo Nov-20
Jul-21 -6.65% 3 mo 1 mo Oct-21
Apr-24 -3.83% 1 mo 7 mo Nov-24
Oct-22 -3.12% 1 mo 2 mo Dec-22
Apr-23 -2.57% 1 mo 1 mo May-23
Mar-22 -2.41% 2 mo 2 mo Jun-22


Comparisons                                        ProgramAG CTA Index
Annualized Compound ROR 12.55%5.48%
Cumulative Return 75.33%28.84%
Cumulative VAMI (5) 17531288
Largest Monthly Gain 16.94%2.99%
Largest Monthly Loss -5.81%-1.27%
Correlation 0.109
Last 12 Months 3.00%5.69%
Last 36 Months 41.49%12.71%

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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.

Park Avenue Asset Management | Manhattan ~ New York City
Toll Free: (877) 611-PAAM | Local: (212) 600-2883 Email: [email protected] | Web Address: http://www.parkavenueassetmgt.com


Park Avenue Asset Management - CTA REPORT
Report Start Date: Mar-2020 - Report End Date: Nov-2024
Use the Back Button of Your Browser to Return to the Previous Page

Print to PDF




+ NOTES: Net portfolio returns (inclusive of a monthly pro-forma performance fee of 20%) were compiled by Compliance Supervisors International Inc. (CSI) from monthly statements obtained independently by CSI from Interactive Brokers. The monthly returns rep resent those of one client that executed power of attorney with Anton Barinov, with NAV of $ 8 .4 m as of November 3 0 , 2024. In total, as of November 3 0 , 2024, Anton Barinov maintained discretionary authority over 15 client accounts all of which are qualified as accounts of family and friends, as well as his personal account, with aggregate NAV of ~ $ 19 .1 m. as of November 2024. Since March 2020, Anton Barinov has been operating pursuant to Section 4m (1) of the Commodity Exchange Act whereby an exemption fr om CTA registration exists for a person that has not furnished commodity trading advice to more than 15 persons and does not hold himself out generally to the public as a CTA. It is expected that at least some of those accounts will become part of Ahead Capital Management LLC trading program over the next several months.

A Qualified Eligible Person must meet the following two requirements: 1) the investor must first be an accredited investor. The most common ways for this are to either have a net worth of $1,000,000 or more OR an annual income of $200,000 or more for the last two years OR, combined with a spouse, $300,000 per year for two years, 2) the investor must meet an additional portfolio requirement, which is having $4,000,000 in securities holdings OR the person must have on deposit with a Futures Commission Merchant at least $400,000 in exchange-specified initial margin and option premiums, and required minimum security deposit for retail forex transactions.

PURSUANT TO AN EXEMPTION FROM THE COMMODITY FUTURES TRADING COMMISSION IN CONNECTION WITH ACCOUNTS OF QUALIFIED ELIGIBLE PERSONS, THIS BROCHURE OR ACCOUNT DOCUMENT IS NOT REQUIRED TO BE, AND HAS NOT BEEN, FILED WITH THE COMMISSION. THE COMMODITY FUTURES TRADING COMMISSION DOES NOT PASS UPON THE MERITS OF PARTICIPATING IN A TRADING PROGRAM OR UPON THE ADEQUACY OR ACCURACY OF COMMODITY TRADING ADVISOR DISCLOSURE. CONSEQUENTLY, THE COMMODITY FUTURES TRADING COMMISSION HAS NOT REVIEWED OR APPROVED THIS TRADING PROGRAM OR THIS BROCHURE OR ACCOUNT DOCUMENT.

** 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 2020-03-31 to 2024-11-30

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.


Park Avenue Asset Management | Manhattan ~ New York City
Toll Free: (877) 611-PAAM | Local: (212) 600-2883 Email: [email protected] | Web Address: http://www.parkavenueassetmgt.com