CTA Profiles Sweet Futures

Start Date: Mar-2020
Mar Return: 1.58%
YTD Return: 3.16%
Annual CROR: 14.49

Worst Drawdown: -10.07%
Losing Streak: -0.20 %
Sharpe Ratio: 0.96
Calmar Ratio: N/A

Min Investment: $1,000,000
Currency: US Dollars
Notional Funding: Yes
NFA Number: 0556742

Margin:
Mgt Fee: 0.00%
Incentive Fee: 20.00%
Round Turns: 650

Trading Strategy: 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. Risk Strategy: Risk Management Framework
- The maximum portfolio drawdown is set at 10% NAV
- Trades in an attempt to keep losses within 1.5% of NAV in case stop-loss is hit
- Stop-losses are set based on expected volatility of an instrument
- Option strategies are implemented to protect the portfolio against an unexpected
- The portfolio is monitered around the clock since team members are based in different time zones
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.

Accounting Notes: As of Nov 30, 2023, Anton Barinov maintained discretionary authority over 15 client accounts all of which were qualified as accounts of family and friends. Since March 2020, Anton Barinov has been operating pursuant to Section 4m (1) of the Commodity Exchange Act whereby an exemption from 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.

The net portfolio returns and AuM represent those of one client that executed power of attorney with Anton Barinov, with NAV of $10,0m as of Nov 30, 2023.

Net portfolio returns were calculated by Compliance Supervisors International Inc. (CSI) net of pro-forma performance fee of 20% based on monthly statements, independently obtained by CSI from a broker.

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.

Trading Methodology
100% Discretionary
Trading Style
100% Trend Following

Style Sub-Categories
Fundamental

Holding Period
100% Short Term
Sector: Global
Contracts: Futures Options

Market Allocation
25% Stock Indices
10% Currencies
40% Financials
10% Metals
10% Energies
5% Softs

ProForma performance adjusted for a 20% incentive fee.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	ROR	Max DD
2024	3.36%	-1.75%	1.58%										3.16%	-1.75%
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%	12.85%	-2.57%
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%	12.78%	-3.12%
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%	19.33%	-6.65%
2020			5.86%	-2.88%	1.53%	-0.77%	-0.55%	-5.81%	1.17%	-3.02%	16.34%	0.15%	10.92%	-10.07%

PAST PERFORMANCE DOES NOT GUARANTEE FUTURE SUCCESS. THERE IS A RISK OF LOSS IN FUTURES TRADING.

Chart

Track Record Prepared By: Compliance Supervisors

Footnotes:

(C) = Client Trading Results
(P) = Proprietary Trading Results
(P&C) = A Combination of Proprietary & Client Results.

Current Drawdown - The Current Losing Streak of the CTA, if any.

Worst Drawdown - The Worst Drawdown reflects the greatest loss from Inception. Worst Drawdown can be defined as the potential cost of higher return.

Annual Compound Rate of Return - The Annualized Compounded Rate of Return represents the average return of the CTA over the time frame of the report. It smoothes out returns by assuming constant growth.

Calmar Ratio - The Calmar Ratio - Calmar Ratio represents the historical amount gained for each dollar risked. A higher number is better. Unless otherwise denoted the Calmar Ratio is calculated by dividing the 36 month Compounded ROR by the 36 month Peak to Valley Drawdown. Traders with less than 36 months of data or a negative Calmar Ratio will be indicated by N/A.

Sharpe Ratio - The Sharpe Ratio is a risk-adjusted ratio that rewards consistency of returns. Traders are penalized for volatility regardless of whether it is on the up or downside. The Sharpe Ratios is calculated using a 1% risk-free rate of return.

Round Turns - Represents the annual number of Round Turns per $1 million.

Qualified Eligible Investors - 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 $2,000,000 in securities holdings OR $200,000 in margin on deposit with a Futures Commission Merchant OR a combination of the two (for example, $1,000,000 in securities and $100,000 in margin).

Exemptions - PURSUANT TO AN EXEMPTION FROM THE COMMODITY FUTURES TRADING COMMISSION IN CONNECTION WITH THE ACCOUNTS OF QUALIFIED ELIBIBLE 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 ADEQUANCY OR ACCURACY OF THE COMMODITY TRADING ADVISOR DISCLOSURE. CONSEQUENTLY, THE COMMODITY FUTURES TRADING COMMISSION HAS NOT REVIEWED OR APPROVED THIS TRADING PROGRAM OR THIS BROCHURE OR ACCOUNT DOCUMENT.