120 Capital Management : Quantamental Global Macro

Summary

120 Capital's Quantamental Global Macro program seeks to generate strong returns across the business cycle. It trades across global asset classes, utilizing a systematic global macro framework that identifies long term, fundamental trends that drive asset classes. Manager discretion is used for trade entry, risk management, and exit. Position holding periods can extend to many months or quarters. Prior to starting 120 Capital, Portfolio Manager Christopher Xu worked for over a decade as a global macro portfolio manager and chief investment officer at a multi-billion dollar single family office in NYC. Chris was previously a portfolio strategist at Bridgewater Associates, statistical arbitrage trader at Sempra Commodities, and Equity Derivatives Strategist at Lehman Brothers. He graduated from the University of Chicago with honors in 2003, with degrees in Economics and Computer Science. ***Note that performance figures from Sept 2015 through Jan 2020 are returns on proprietary capital calculated by a third party after adjusting for a pro-forma 2% management and 20% incentive fee. Proprietary Trading started with $300,000 on Sept 2015 and ended with $4,000,000 on Jan 2020. Proprietary trading continues but is no longer reported here. Figures from Feb 2020 onwards are composite client returns after fees, as calculated by a third party. References available upon request.

Investment Strategy

120 Capital primarily focuses on long term, fundamental drivers of asset prices.

Risk Management

All trades driven by systematic signals have predefined stops, and the correlation between positions in the portfolio are closely monitored. In addition, the manager will use discretion over portfolio management based on market behavior and model performance.