Bridgeton Fund Management, LLC : Bridgeton Tactical Advisors Fund

archived programs
Year-to-Date
N / A
Sep Performance
0.74%
Min Investment
$ 25k
Mgmt. Fee
0.85%
Perf. Fee
10.00%
Annualized Vol
27.33%
Sharpe (RFR=1%)
0.37
CAROR
7.81%
Assets
$ 9.1M
Worst DD
-42.06
S&P Correlation
-0.06

Growth of 1,000 - VAMI

Monthly Performance

Export Data
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD DD

Past performance is not necessarily indicative of future results. The risk of loss in trading commodity futures, options, and foreign exchange ("forex") is substantial.

Period Returns

Program / Index Sep Qtr YTD 1yr 3yr 5yr 10yr Since
4/1991
Bridgeton Tactical Advisors Fund 0.74 0.22 - -1.01 -5.59 -6.02 14.61 531.39
S&P 500 -2.64 -6.94 - -2.65 33.27 68.22 56.23 411.46
+/- S&P 500 3.38 7.15 - 1.64 -38.86 -74.24 -41.61 119.93

Strategy Description

Summary

Bridgeton Tactical Advisors Fund, LP (BTAF) provides risk managed and cost efficient access to Managed Futures. BTAF seeks to profit from price trends in a diversified portfolio of futures contracts by combining robust trend following methods with an innovative risk management approach.... Read More

Account & Fees

Type
Fund
Minimum Investment
$ 25k
Trading Level Incremental Increase
$ 1,000k
CTA Max Funding Factor
Management Fee
0.85%
Performance Fee
10.00%
Average Commission
$0
Available to US Investors
Yes

Subscriptions

High Water Mark
Yes
Subscription Frequency
15-30 Days
Redemption Frequency
15-30 Days
Investor Requirements
Accredited Investors
Lock-up Period
0

Trading

Trading Frequency
1450 RT/YR/$M
Avg. Margin-to-Equity
5%
Targeted Worst DD
-15.00%
Worst Peak-to-Trough
42.00%
Sector Focus
Arbitrage & Spread Traders

Holding Periods

Over 12 Months
4-12 Months
25.00%
1-3 Months
25.00%
1-30 Days
50.00%
Intraday
0%

Decision-Making

Discretionary
5.00%
Systematic
95.00%

Strategy

Momentum
10.00%
Option-purchasing
5.00%
Option-spreads
5.00%
Spreading/hedging
50.00%
Technical
20.00%
Trend-following
10.00%
Strategy Pie Chart

Composition

Currency Futures
25.00%
Interest Rates
25.00%
Stock Indices
15.00%
Energy
10.00%
Grains
6.00%
Industrial Metals
5.00%
Precious Metals
5.00%
Softs
5.00%
Livestock
4.00%
Composition Pie Chart

Summary

Bridgeton Tactical Advisors Fund, LP (BTAF) provides risk managed and cost efficient access to Managed Futures. BTAF seeks to profit from price trends in a diversified portfolio of futures contracts by combining robust trend following methods with an innovative risk management approach. Global equity indexes, global interest rates, currencies, metals, energy and agricultural futures contracts are traded in the portfolio. In addition to low management fees, BTAF has no punitive investment constraints such as lock-ups and high incentive fees. In October 2014, Bridgeton Fund Management, LLC, introduced a streamlined structure to the Bridgeton Tactical Advisors Fund (“BTAF”) which will sharply reduce the expense hurdle to investors. Additionally, BTAF’s portfolio process was enhanced. The Fund will continue to utilize diversified momentum and trend following models, however, overlaying these strategies is a new cohort of risk management methods designed to sharply reduce volatility and drawdown.

Investment Strategy

The Fund’s investment process combines a diversified set of strategies that are active across multiple markets, including global equity indexes, global interest rates, currencies, metals, energy and agriculturals. During periods when trends are short in duration, the risk to return relationship may be negatively skewed. To mitigate downside risk, Bridgeton deploys risk budgeting strategies, volatility filters and trading models designed to profit from congested price action. Conversely, when the macro trading environment supports large price moves, Bridgeton utilizes option strategies to hedge or protect profits earned – a key differentiator in the managed futures space and unique to Bridgeton.

Risk Management

We believe risk management is our team’s principal challenge. How Bridgeton creates value within it funds and the investor’s experience with these funds is rooted in our risk management philosophy. Our risk process pivots around a central question: is the investor being sufficiently compensated for the risk they are assuming? Once this question is answered in the affirmative, we shift our focus to constructing a diversified basket of these exposures. We utilize a mosaic approach to risk calculation. We constantly monitor notional position size, contract exposures, standard deviation, average trading range, VaR, drawdown and rolling “edge” metrics (Kelly criteria). We have a morning risk-run and an evening risk-run. Summary sheets are distributed to the portfolio team after each run. The degree of leverage is determined by the coherence/correlation of signals generated by the models. If the Fund’s trading strategies are producing highly correlated signals (long or short) the amount of leverage employed will increase. In response, our risk management protocols are designed to identify and govern this form of portfolio exposure.

   

Past performance is not necessarily indicative of future results. The risk of loss in trading commodity futures, options, and foreign exchange ("forex") is substantial.

Reward
Average RoR:
Max Gain:
Gain Frequency:
Average Gain:
Gain Deviation:
Risk
Standard Deviation:
Worst Loss:
Loss Frequency:
Average Loss:
Loss Deviation:
Reward/Risk
Sharpe Ratio: (RF=1%)
Skewness:
Kurtosis:
Reward
Compound RoR:
Average RoR:
Max Gain:
Gain Frequency:
Average Gain:
Gain Deviation:
Risk
Standard Deviation:
Worst Loss:
Loss Frequency:
Average Loss:
Loss Deviation:
Reward/Risk
Sharpe Ratio: (RF=1%)
Skewness:
Kurtosis:

Past performance is not necessarily indicative of future results. The risk of loss in trading commodity futures, options, and foreign exchange ("forex") is substantial.

Note: Figures shown in the Monthly column are the greatest figures (or worst for losses/drawdowns) for any particular month. The Annual figures are the greatest for any calendar year.

Drawdown Report

Depth Length (Mos.) Recovery (Mos.) Peak Valley
-42.06 12 3 7/1/1997 7/1/1998
-37.64 66 - 12/1/2008 6/1/2014
-35.13 25 23 2/1/2004 3/1/2006
-33.83 11 4 3/1/2001 2/1/2002
-33.60 12 5 7/1/1999 7/1/2000
-20.36 3 4 4/1/1996 7/1/1996
-19.16 4 3 12/1/1991 4/1/1992
-16.76 1 2 1/1/1996 2/1/1996
-13.88 7 3 7/1/1993 2/1/1994
-11.50 3 1 3/1/1997 6/1/1997
-11.00 1 2 2/1/2003 3/1/2003
-10.74 1 4 5/1/2003 6/1/2003
-10.05 1 5 6/1/1991 7/1/1991
-9.47 1 1 6/1/2008 7/1/2008
-9.46 2 2 9/1/2002 11/1/2002
-8.67 1 2 10/1/2003 11/1/2003
-8.29 2 1 1/1/0001 5/1/1991
-6.69 5 1 8/1/1992 1/1/1993
-5.40 1 3 7/1/1994 8/1/1994
-5.17 1 2 2/1/2008 3/1/2008
-5.14 1 2 11/1/1996 12/1/1996
-5.08 1 1 4/1/1999 5/1/1999
-4.88 1 1 12/1/1994 1/1/1995
-4.48 3 1 10/1/1998 1/1/1999
-2.55 2 3 5/1/1995 7/1/1995
-2.25 1 1 2/1/1999 3/1/1999
-1.46 1 1 1/1/2001 2/1/2001
-0.98 1 1 4/1/1993 5/1/1993
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Consecutive Gains

Run-up Length (Mos.) Start End
73.50 3 8/1/1998 10/1/1998
65.38 5 5/1/2002 9/1/2002
61.98 3 11/1/2000 1/1/2001
38.69 4 2/1/1995 5/1/1995
38.69 4 5/1/1992 8/1/1992
38.66 4 8/1/1996 11/1/1996
36.54 3 5/1/1994 7/1/1994
27.62 3 12/1/2002 2/1/2003
24.77 2 3/1/1996 4/1/1996
23.55 1 4/1/2006 4/1/2006
23.33 5 8/1/2008 12/1/2008
23.23 2 11/1/1991 12/1/1991
22.48 3 9/1/2007 11/1/2007
21.52 3 1/1/1997 3/1/1997
21.26 1 8/1/2000 8/1/2000
20.34 2 10/1/2004 11/1/2004
18.16 1 3/1/2002 3/1/2002
17.49 3 12/1/2003 2/1/2004
16.28 1 10/1/2001 10/1/2001
15.54 1 5/1/2009 5/1/2009
15.22 3 2/1/1993 4/1/1993
14.93 1 7/1/1997 7/1/1997
14.82 2 11/1/1993 12/1/1993
14.58 3 4/1/2007 6/1/2007
14.47 3 11/1/2014 1/1/2015
14.40 2 4/1/2003 5/1/2003
13.40 3 11/1/1997 1/1/1998
13.33 6 8/1/1995 1/1/1996
12.98 4 7/1/2003 10/1/2003
12.36 4 9/1/1994 12/1/1994
12.28 2 1/1/2008 2/1/2008
12.10 1 12/1/2001 12/1/2001
11.39 3 4/1/2008 6/1/2008
11.13 3 7/1/2014 9/1/2014
10.52 1 8/1/2005 8/1/2005
10.33 2 6/1/1999 7/1/1999
10.04 1 6/1/1991 6/1/1991
9.91 2 6/1/1993 7/1/1993
9.59 3 2/1/2011 4/1/2011
9.33 1 5/1/2012 5/1/2012
9.13 1 3/1/1994 3/1/1994
8.74 1 11/1/1999 11/1/1999
8.50 2 5/1/2005 6/1/2005
8.39 1 3/1/2000 3/1/2000
8.09 2 8/1/2006 9/1/2006
7.70 2 8/1/1991 9/1/1991
6.79 1 8/1/2001 8/1/2001
6.60 1 2/1/1999 2/1/1999
6.52 1 11/1/2006 11/1/2006
6.48 1 3/1/2005 3/1/2005
6.17 1 11/1/2009 11/1/2009
6.06 1 4/1/1999 4/1/1999
6.03 3 7/1/2011 9/1/2011
5.98 1 11/1/2005 11/1/2005
5.50 3 4/1/2013 6/1/2013
5.14 1 3/1/2001 3/1/2001
5.07 1 5/1/2004 5/1/2004
4.74 1 12/1/2010 12/1/2010
4.29 2 10/1/1992 11/1/1992
4.17 1 5/1/2001 5/1/2001
2.92 1 3/1/2015 3/1/2015
2.84 2 12/1/2013 1/1/2014
2.31 2 11/1/2012 12/1/2012
2.20 1 10/1/2010 10/1/2010
1.53 1 5/1/2000 5/1/2000
1.26 1 9/1/1999 9/1/1999
0.88 1 1/1/2006 1/1/2006
0.83 2 8/1/2015 9/1/2015
0.79 1 7/1/2012 7/1/2012
0.73 2 7/1/2010 8/1/2010
0.57 1 5/1/2010 5/1/2010
0.39 1 7/1/2004 7/1/2004
0.17 1 6/1/1996 6/1/1996
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Consecutive Losses

Run-up Length (Mos.) Start End
-36.15 6 2/1/1998 7/1/1998
-23.22 1 11/1/2001 11/1/2001
-20.72 2 1/1/2002 2/1/2002
-20.15 2 6/1/2000 7/1/2000
-19.97 3 8/1/1997 10/1/1997
-19.16 4 1/1/1992 4/1/1992
-18.34 5 12/1/2009 4/1/2010
-18.24 1 4/1/2005 4/1/2005
-17.35 2 6/1/2001 7/1/2001
-16.76 1 2/1/1996 2/1/1996
-15.44 1 10/1/1999 10/1/1999
-15.16 4 1/1/2009 4/1/2009
-14.75 2 9/1/2000 10/1/2000
-14.74 3 12/1/2004 2/1/2005
-14.56 5 6/1/2009 10/1/2009
-13.90 1 7/1/1996 7/1/1996
-13.54 3 8/1/1993 10/1/1993
-13.24 2 1/1/1994 2/1/1994
-12.81 3 12/1/1999 2/1/2000
-12.64 4 4/1/2015 7/1/2015
-11.89 2 3/1/2004 4/1/2004
-11.50 3 4/1/1997 6/1/1997
-11.28 3 5/1/2006 7/1/2006
-11.18 2 5/1/2011 6/1/2011
-11.07 5 7/1/2013 11/1/2013
-11.00 1 3/1/2003 3/1/2003
-10.74 1 6/1/2003 6/1/2003
-10.18 1 12/1/2005 12/1/2005
-10.05 1 7/1/1991 7/1/1991
-9.99 7 10/1/2011 4/1/2012
-9.47 1 7/1/2008 7/1/2008
-9.46 2 10/1/2002 11/1/2002
-8.71 1 7/1/2005 7/1/2005
-8.67 1 11/1/2003 11/1/2003
-8.55 2 9/1/2005 10/1/2005
-8.52 4 12/1/2006 3/1/2007
-8.29 2 4/1/1991 5/1/1991
-7.96 1 6/1/2004 6/1/2004
-7.92 1 4/1/2001 4/1/2001
-7.66 1 5/1/1996 5/1/1996
-7.62 1 10/1/2006 10/1/2006
-7.21 5 2/1/2014 6/1/2014
-6.27 1 4/1/2002 4/1/2002
-6.11 2 8/1/2004 9/1/2004
-5.95 2 2/1/2006 3/1/2006
-5.57 1 10/1/1991 10/1/1991
-5.48 2 12/1/1992 1/1/1993
-5.40 1 8/1/1994 8/1/1994
-5.34 1 9/1/1992 9/1/1992
-5.17 1 3/1/2008 3/1/2008
-5.14 1 12/1/1996 12/1/1996
-5.08 1 5/1/1999 5/1/1999
-4.88 1 1/1/1995 1/1/1995
-4.87 3 8/1/2012 10/1/2012
-4.48 3 11/1/1998 1/1/1999
-4.17 2 7/1/2007 8/1/2007
-4.11 1 4/1/1994 4/1/1994
-3.93 1 2/1/2015 2/1/2015
-3.59 1 4/1/2000 4/1/2000
-3.45 1 8/1/1999 8/1/1999
-3.31 1 6/1/2012 6/1/2012
-2.58 3 1/1/2013 3/1/2013
-2.56 1 11/1/2010 11/1/2010
-2.55 2 6/1/1995 7/1/1995
-2.50 1 1/1/2011 1/1/2011
-2.25 1 3/1/1999 3/1/1999
-1.50 1 9/1/2001 9/1/2001
-1.46 1 2/1/2001 2/1/2001
-1.12 1 12/1/2007 12/1/2007
-0.98 1 5/1/1993 5/1/1993
-0.70 1 10/1/2014 10/1/2014
-0.63 1 6/1/2010 6/1/2010
-0.15 1 9/1/2010 9/1/2010
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Time Windows Analysis

 1 Month3 Month6 Month12 Month18 Month2 Year3 Year4 Year5 Year
Number of Periods294.00292.00289.00283.00277.00271.00259.00247.00235.00
Percent Profitable50.6854.7955.3661.8464.2664.9464.0975.3085.11
Average Period Return0.932.755.4711.0816.0821.7034.9847.1259.44
Average Gain6.4710.8217.0425.1031.5340.1061.4266.8172.88
Average Loss-4.76-7.03-8.87-11.65-11.70-12.41-12.22-12.91-17.34
Best Period35.2473.5074.04111.65100.22133.20179.54221.16301.82
Worst Period-23.22-30.23-36.15-42.06-30.84-34.15-29.77-28.78-36.08
Standard Deviation7.8913.5518.3124.8128.3434.1248.8357.7769.73
Gain Standard Deviation6.4812.8816.3120.7023.2828.1441.6753.2766.91
Loss Standard Deviation4.375.557.029.098.417.747.768.2911.45
Sharpe Ratio (1%)0.110.180.270.410.510.580.650.750.78
Average Gain / Average Loss1.361.541.922.162.703.235.035.174.20
Profit / Loss Ratio1.391.872.383.494.855.998.9715.7724.02
Downside Deviation (10%)4.756.698.9111.7412.6414.3317.6818.1419.44
Downside Deviation (5%)4.586.157.819.619.349.6810.259.389.71
Downside Deviation (0%)4.536.017.559.118.608.658.667.617.98
Sortino Ratio (10%)0.110.230.340.520.670.801.091.411.64
Sortino Ratio (5%)0.180.410.641.051.562.033.124.595.60
Sortino Ratio (0%)0.200.460.731.221.872.514.046.197.45

Top Performer Badges

Index Award Type Rank Performance Period

Past performance is not necessarily indicative of future results. The risk of loss in trading commodity futures, options, and foreign exchange ("forex") is substantial.