CTA Profiles Sweet Futures

Start Date: Jun-2023
Jun Return: -8.77%
YTD Return: 9.34%
Annual CROR: N/A

Worst Drawdown: -20.71%
Losing Streak: -11.37 %
Sharpe Ratio: -0.07
Calmar Ratio: N/A

Min Investment: $2,000,000
Currency: US Dollar
Notional Funding: Yes
NFA Number: 0398233

Margin: 25%
Mgt Fee: 1.50%
Incentive Fee: 20.00%
Round Turns: 0

Trading Strategy: The Takahe Systematic Trend Program trades more than 80 futures markets and is long-term in nature. It is a rules-based trend following program which seeks to deliver high absolute returns in rising and falling markets. The Systematic Trend Program bootstraps some futures markets into several single expirations to maximize the number of markets traded. Importantly, options are used to manage and replace the delta of open positions and control risk. The Systematic Trend Program is part of the broader Takahe Global Quantiative group, which is managed by a three PM team led by Moritz Seibert, who has more than 20 years experience in systematic and derivatives trading.

Typhon Capital Management, LLC is an Appointed Representative of Starmark Investment Management Limited which is Authorised and Regulated by the Financial Conduct Authority. Risk Strategy: N/A

Accounting Notes: Performance is live client performance net of commissions and a pro forma 1.5% management fee and 20% incentive fee. YTD returns are calculated for capital invested from January 1 and don't reflect compounding. Actual returns may differ from reported results due to differences in contribution dates, commissions, and fee structures.1 Any indices and other financial benchmarks shown are provided for illustrative purposes only, are unmanaged, reflect reinvestment of income and dividends and do not reflect the impact of advisory fees.

Trading Methodology
100% Systematic
Trading Style
100% Trend Following

Style Sub-Categories
Fundamental

Holding Period
100% Short Term
Sector: US
Contracts:

Market Allocation
100% Diversified

Recent Performance - Start Date of Program June 2023

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	ROR*	Max DD
2024	5.36%	7.12%	7.69%	-1.57%	-0.49%	-8.77%							9.34%	-10.64%
2023						0.72%	0.27%	2.37%	4.01%	3.30%	-6.75%	-13.96%	-10.04%	-19.77%

*The Annual ROR performance has been calculated by adding each monthly return. Please See Accounting Notes Below.

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

Chart

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.