Systematic Trader Index For December 2011 Need help with terms? Monthly Rankings Show ranking for: January February March April May June July August September October November December 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990 1989 1988 1987 1986 1985 1984 1983 1982 1981 1980 1979 1978 1977 Rank CTA/Program Dec 2011 Min Inv Inception 252 Superfund Group Superfund Green Gold C (SPC) -20.19 100k 10/1/2005 251 Superfund Group Superfund Green Gold B (SPC) -17.86 50k 10/1/2005 250 Superfund Group Superfund Green Gold A (SPC) -15.96 5k 10/1/2005 249 Superfund Group Superfund Green Gold L.P. Series B-1 -15.33 5k 4/1/2009 248 Shield Plus LLC Shield Plus Natural Gas -14.92 50k 1/1/2004 247 Superfund Group Superfund Green Gold L.P. Series A-1 -14.04 5k 4/1/2009 246 Parizek Capital Futures Trading Program -10.73 500k 4/1/2000 245 Superfund Group Superfund Green Master -9.35 2,000k 5/1/2001 244 Superfund Group Superfund Blue SPC Class A (Gold) -7.64 50k 12/1/2007 243 Superfund Group Superfund Green GCT USD -7.45 15k 1/1/2000 242 Superfund Group Superfund Green L.P. Series B -7.15 5k 10/1/2002 241 Zoi Capital, LLC Telio Program (Client) -5.48 200k 4/1/2010 240 Superfund Group Superfund Green L.P. Series A -4.94 5k 10/1/2002 239 Global Domain Partners, LLC Global Domain Vector Fund - Series Sigma -4.92 500k 4/1/2009 238 Cardwell Investment Technologies Cardwell Investment Technologies 3x Program -4.89 4,000k 2/1/2011 237 Revolution Capital Management Mosaic Program -4.79 10,000k 10/1/2006 236 Amplitude Capital International Limited Dynamic Strategy -4.47 6/1/2005 235 Liberty Funds Group, Inc Liberty Wealth Protection Fund -4.04 250k 10/1/2009 234 Superfund Group Superfund Green Q-AG -3.90 2k 3/1/1996 233 Ion Asset Architecture Ion Fund Program -3.63 10,000k 11/1/2007 232 Ion Asset Architecture (Fund Program) Ion Fund -3.63 100k 11/1/2007 231 Salus Alpha Capital Ltd Salus Alpha Directional Markets (DMX) -3.53 1,000k 3/1/2003 230 Hawksbill Capital Management Global Diversified -3.44 5,000k 11/1/1988 229 Southwest Managed Investments, LLC Global Diversified -3.42 200k 1/1/2002 228 Mobius Asset Management Custom Trading Program -3.40 100k 1/1/2002 227 Auspice Capital Advisors Ltd Auspice Diversified Program -3.12 1,500k 4/1/2006 226 Quantitative Investment Management Quantitative Global Program -2.87 20,000k 10/1/2003 225 QMS Capital Management LP QMS Diversified Global Macro Strategy -2.87 5,000k 6/1/2010 224 FCI Capital Management TSFX1 -2.77 20k 11/1/2010 223 Amplitude Capital International Limited Amplitude Sinfonie Fund A Class -2.73 1,000k 9/1/2009 222 Wraith Capital LLP Wraith Dynamic Futures Fund -2.70 100k 1/1/2011 221 Cardwell Investment Technologies Cardwell Investment Technologies 1x Program -2.67 4,000k 11/1/2008 220 Global Vista Advisors, LLC Global Vista Options ("GVO") -2.57 50k 10/1/2010 219 Global Domain Partners, LLC Global Domain Vector Fund - Series A -2.55 500k 1/1/2006 218 Insch Capital Management SA Interbank Currency Program - 3X Leverage -2.53 100k 1/1/2000 217 John Locke Investments JL Commodity Long Flat Program -2.50 5,000k 12/1/2007 216 DUNN Capital Management DUNN Combined Fund (DCF) -2.36 100k 5/1/1989 215 Clarke Capital Management Millennium -2.25 1,000k 1/1/1998 214 Gladius Asset Management Fulham Program -2.13 2,000k 1/1/2008 213 Claughton Capital ARP Institutional Program -2.12 1,000k 10/1/2005 212 DUNN Capital Management D'Best Futures Fund, L.P. -2.11 100k 6/1/1994 211 Liberty Funds Group, Inc Liberty Wealth Protection Strategy (1X) -1.96 1,500k 1/1/2009 210 Futures Truth Company, FTC-CTA MS4 -1.93 250k 10/1/2007 209 Strategic Capital Advisors LLC Multi-strategy Futures Program -1.93 3,000k 5/1/2010 208 Briarwood Capital Management, Inc. Diversified 2XL -1.85 250k 11/1/2004 207 Revolution Capital Management Mosaic Institutional Program -1.82 25,000k 9/1/2009 206 Amplitude Capital International Limited Klassik Strategy -1.78 1,000k 9/1/2009 205 Galaxy Asset Management (HK) Ltd Galaxy Quantitative Fund -1.72 100k 5/1/2011 204 Mulvaney Capital Management The Mulvaney Global Markets Fund -1.64 100k 5/1/1999 203 White Indian Trading Co. STAIRS (Client) -1.61 250k 5/1/2009 202 SMN Investment Services GmbH smn Diversified Futures Fund (1996) -1.56 0k 11/1/1996 201 ReSolve Asset Management Inc. Resolve Acorn Diversified Program -1.51 10k 7/1/2005 200 Dreiss Research Corporation Diversified Program -1.49 1,000k 5/1/1991 199 IStar Capital B.V. IStar Systematic Fund -1.45 1,000k 9/1/2011 198 RAM Management Group MRTP Aggressive -1.44 1,000k 2/1/1998 197 EMC Capital Advisors, LLC Classic -1.40 5,000k 1/1/1985 196 Spectrum Asset Management LLC Global Diversified -1.33 2,000k 1/1/2001 195 Mobius Asset Management Energy Weighted Program -1.30 250k 1/1/2005 194 FRP CAPITAL LLC FRP125+ -1.28 125k 1/1/2010 193 Mondiale Asset Management Mondiale Trading Program -1.20 0k 9/1/1997 192 Clarke Capital Management Jupiter -1.11 3,000k 5/1/2005 191 Clarke Capital Management Global Basic -1.07 50k 2/1/1996 190 Estlander & Partners Alpha Trend II - Class P -1.04 100k 12/1/2008 189 Revolution Capital Management Alpha Program -1.01 5,000k 6/1/2007 188 Clarke Capital Management Worldwide -1.01 250k 1/1/1996 187 Romanesco Capital Management B.V Persistence Program -0.94 5,000k 9/1/2005 186 Quantmetrics Capital Management LLP Quantmetrics Multi Strategy Fund -0.93 1,000k 5/1/2006 185 IKOS IKOS FX Fund -0.91 1,000k 3/1/2008 184 IDS Capital IDS F&F Systematic Trading -0.90 50k 7/1/2013 183 QCM Global Diversified Programme -0.90 500k 12/1/1995 182 Robinson-Langley Capital Management, LLC Managed Account Program -0.88 200k 1/1/2007 181 Superfund Group Superfund Blue SPC Class A (EUR) -0.86 50k 4/1/2005 180 Blake Capital Management, Inc. SRD Short Equities -0.84 100k 1/1/2011 179 ROW Asset Managment Row Currency Program -0.83 1,000k 11/1/2010 178 SinoPac Asset Management SinoPac Multi Strategy Quant Fund -0.81 250k 10/1/2009 177 Quantmetrics Capital Management LLP Directional 10V Strategy -0.80 10,000k 1/1/2007 176 Briarwood Capital Management, Inc. Diversified Trading Program -0.77 3,000k 7/1/2001 175 Somers Brothers Capital Diversified Futures Program #1 -0.71 100k 1/1/2005 174 Angle Capital Management LLC AIP Program -0.67 100k 1/1/2010 173 Kelly Angle Inc. Genesis Program -0.58 2,000k 4/1/2000 172 Conquest Capital Group Conquest Select -0.52 250k 6/1/2004 171 NuWave Investment Management, LLC NuWave Investment Partners LP -0.51 250k 6/1/2001 170 Bifrost Quest Capital LLC IndexQuest (Client) -0.49 500k 11/1/2011 169 NuWave Investment Management, LLC Combined Futures Portfolio -0.48 5,000k 6/1/2001 168 RAM Management Group RAM MRTP 1X-Conservative -0.47 1,000k 9/1/1993 167 Tactical Investment Management Tactical Institutional Commodity Program -0.44 10,000k 4/1/1993 166 Robust Methods LLC Macro Managed Account -0.40 5,000k 1/1/2005 165 Xplor Capital Management, LLC Global CTA Program -0.39 1,500k 7/1/2004 164 Wavefront Global Asset Management IMFC Global Concentrated -0.34 500k 4/1/2009 163 Conquest Capital Group Conquest Macro -0.32 250k 5/1/1999 162 Cauldron Investments, LLC Stock Index Plus -0.31 1,000k 10/1/2009 161 Diamond Capital Management Enhanced S&P Program -0.31 100k 10/1/2009 160 Estlander & Partners Alpha Trend -0.30 30,000k 10/1/1991 159 Mark J. Walsh Company Standard Program -0.28 2,000k 9/1/1985 158 Seven Capital Management Seven Absolute Return -0.27 100k 6/1/2009 157 Quantmetrics Capital Management LLP Premier 12V Strategy -0.27 10,000k 4/1/2003 156 Witter & Lester, Inc. Stock Index Futures Trading Program -0.27 400k 1/1/1988 155 QQFund.com QQFund.com Alpha Beta Program -0.17 100k 9/1/2008 154 Covenant Capital Management Original Program -0.16 5,000k 9/1/1999 153 Keck Capital Management LLC The Keck Program -0.16 2,000k 12/1/2003 152 AIMhedge Management Ltd. AIM Classic Fund EUR (Institutional) -0.11 100k 1/1/2005 151 Wimmer Horizon LLP Managed Account -0.10 5,000k 5/1/2005 150 Purple Valley Capital, Inc. Diversified Trend 1 -0.10 100k 8/1/2008 149 Saxon Investment Corporation Diversified Program -0.01 3,000k 9/1/1988 134 Eckhardt Trading Company Evolution Strategies 1.2X 0.00 10,000k 10/1/1991 135 Mobius Asset Management Diversified Program 0.00 250k 3/1/2004 136 Pacific Capital Advisors Vanguard Program 0.00 100k 4/1/2007 137 Revolution Capital Management Alpha Fund 0.00 50k 1/1/2005 138 Saxon Investment Corporation Aggressive Diversified Program 0.00 2,000k 11/1/1993 140 Melissinos Trading Eupatrid Global Trends 0.00 50k 1/1/2011 139 Vantage Capital Management VCM Growth Program 0.00 100k 1/1/2011 144 HiProb Trading Technology LLC HiProb-I 0.00 5,000k 7/1/2008 148 Ion Asset Architecture Ion Volium Fund 0.00 0k 4/1/2011 146 Alee Capital Management, LLC Mistral Program 0.00 2,500k 1/1/1999 147 Alee Capital Management, LLC Poniente Program 0.00 2,500k 1/1/1999 145 Pinstripe Trading, LLC Standard 0.00 125k 8/1/2009 142 Serac, LLC Diversified Reversal Program 0.00 200k 4/1/2011 143 ALFAKRAFT ALFA Edge Fund 0.00 16k 12/1/2011 141 Sequent Capital Sequent CTA - Fundamental Diversified (V12) 0.00 5,000k 1/1/2005 133 Eckhardt Trading Company Evolution Strategies 0.03 20,000k 8/1/1991 132 John Locke Investments Cyril Systematic Program 0.03 8,000k 7/1/2000 131 Rho Asset Management Rho Altius 1XL Program 0.05 5,000k 11/1/2007 130 Blake Capital Management, Inc. SRD Energies 0.05 100k 8/1/2011 129 Estlander & Partners Freedom 0.08 20,000k 8/1/2010 128 ALFAKRAFT ALFA Commodity Fund 0.09 16k 6/1/2010 127 Adamah Capital LLC Asset Allocator Program 0.10 50k 3/1/2011 126 Millburn Ridgefield Corporation Commodity Program 0.11 25,000k 3/1/2005 125 Deep Field Capital AG SINGULARITY Fund 0.13 100k 9/1/2011 124 Altus Trading, LLC Managed Forex Program A 0.20 50k 8/1/2011 123 IKOS The IKOS Hedge Fund 0.23 10,000k 7/1/1998 122 Trigon Investment Advisors, LLC Foreign Exchange Program 0.25 5,000k 8/1/2000 121 M.S. Capital Management Global Diversified Program 0.31 2,000k 11/1/1998 120 Rhicon Currency Management Rhicon Systematic Currency Program 0.34 3,000k 1/1/2004 119 Molinero Capital Management LLP Global Markets Program 0.34 2,000k 7/1/2005 118 Kaiser Trading Group Kaiser Global Diversified Program - Class B 0.35 1,000k 3/1/1998 117 Auctos Capital Management Auctos Global Diversified 0.37 3,000k 11/1/2007 116 JLC Futures Management Company JLC Managed Futures Fund I, LP. 0.38 100k 8/1/2009 115 Rabar Market Research Diversified Program 0.38 2,000k 1/1/1989 114 Clarke Capital Management FX Plus 0.39 1,000k 5/1/2004 113 Crabel Capital Management Crabel Multi-Product 0.40 1,000k 3/1/1998 112 Abraham Trading Company Diversified Program 0.41 10,000k 1/1/1988 111 Commodity Strategies AG CSAG Active Long Short Commodity Program 0.45 5,000k 10/1/2007 110 Trigon Investment Advisors, LLC Global Macro Program (LIQUIDATED as of July 31, 2017) 0.47 10,000k 1/1/2001 109 ALFAKRAFT ALFA Rubicon Fund 0.48 16k 8/1/2011 108 Mesirow Financial Investment Management, Inc. Extended Markets Alpha Program 0.49 10,000k 4/1/2004 107 Hoss Capital Management, LLC Hoss Agricultural Futures Program 0.50 100k 8/1/2011 106 MERIT Alternative Investments GmbH Futures Portfolio 0.53 2,000k 6/1/1998 105 Welton Investment Partners Welton Global 0.53 10,000k 6/1/2004 104 Hehmeyer Capital Management, LLC Hehmeyer Systematic Treasury & Equity Strategy 0.55 250k 3/1/2010 103 Ramsey Quantitative Systems Inc RQSI Systematic Global Macro Fund 0.57 5,000k 11/1/2012 102 Millburn Ridgefield Corporation Diversified Program 0.57 20,000k 2/1/1977 101 Auspice Capital Advisors Ltd Auspice Managed Futures Excess Return Index 0.60 5,000k 12/1/2010 100 Estlander & Partners Global Markets 0.63 10,000k 8/1/1999 99 Witter & Lester, Inc. Redstone 0.64 500k 9/1/1994 98 Cranwood Capital Management Fixed Income Arbitrage Fund 0.65 250k 4/1/2008 97 Cranwood Capital Management Cranwood International Fund 0.65 250k 4/1/2008 96 Liberty Funds Group, Inc Liberty Diversified Option Strategy 0.65 750k 1/1/2009 95 Rabar Market Research Short-Term Program 0.71 2,000k 11/1/2009 94 Silicon Valley Quantitative Advisors US Quantitative Portfolio (UQP) 0.75 200k 11/1/1999 93 Red Rock Capital, LLC Systematic Global Macro 0.76 500k 9/1/2003 92 Global Bayesian Dynamics, LLC Multi-Strategy Client Composite 0.77 25,000k 3/1/2010 91 IKOS IKOS Futures Fund 0.80 1,000k 2/1/2010 90 White Indian Trading Co. SCS Program (Client) 0.83 250k 2/1/2011 89 Rotella Capital Management Rotella Orion (Short-Term) Program 0.84 10,000k 3/1/2006 88 Kaiser Trading Group Kaiser Trading Fund 2X SPC - Share Class B 0.85 1,000k 10/1/2006 87 Endeavour Capital LLP Endeavour Pembroke 0.87 2,000k 7/1/2007 86 Quantica Capital AG Quantica Managed Futures 0.88 5,000k 1/1/2005 85 Covenant Capital Management Aggressive Program 0.88 3,000k 2/1/2004 84 HB Capital Management Inc. Diversified Program 0.88 50k 3/1/2008 83 White Indian Trading Co. STAIRS - Futures Program (Client) 0.91 250k 10/1/2008 82 Tyche Capital Advisors LLC TCA Energy Spreads 0.92 100k 8/1/2008 81 Blackwater Capital Management Global Program 0.92 5,000k 7/1/2005 80 Metolius Capital LLC Metolius Diversified 0.97 100k 6/1/2010 79 Millburn Ridgefield Corporation Multi-Markets Program 1.02 25,000k 10/1/2004 78 Kinkopf Capital Management KCM S&P (Proprietary) 1.03 100k 1/1/1999 77 Chesapeake Capital Diversified (LV) 1.04 100k 2/1/1988 76 Emil van Essen EvE Systematic Global Opportunities 1.04 1,000k 9/1/2007 75 Madison Park Capital Partners, LLC MPCP Sentiment Trading Fund 1.06 350k 8/1/2011 74 Northfield Trading Diversified 1.10 2,000k 7/1/1989 73 Transtrend B.V. DTP – Standard Risk (EUR) 1.11 10,000k 2/1/1999 72 Gap Partners LLC Gap 1.16 250k 11/1/2009 71 ISAM ISAM Systematic Trend Fund 1.18 1,000k 6/1/2001 70 Wavefront Global Asset Management IMFC Global Investment Program 1.22 2,000k 2/1/2007 69 Quantica Capital AG Quantica Diversified FX 1.23 5,000k 3/1/2007 68 DUNN Capital Management World Monetary and Agriculture Program (WMA) 1.25 100k 11/1/1984 67 Estlander & Partners Global XL 1.25 5,000k 8/1/1991 66 TRYCON G.C.M. AG TRYCON CI Global Futures Fund HAIG, Class BI 1.25 75k 6/1/2007 65 TRYCON G.C.M. AG Tungsten TRYCON AI Global Markets, Class C (UCITS IV) 1.33 100k 2/1/2010 64 Esulep LLC MAX Esulep LLC MAX 1.33 500k 5/1/2008 63 AIS Capital Management, L.P. Frontera Global Opportunity Program (futures only) 1.33 10,000k 8/1/2009 62 Global Sigma Group, LLC AGSF 1.34 3,000k 4/1/2013 61 Systematic Alpha Management Systematic Alpha Futures Program 1.35 100k 6/1/2004 60 Clarke Capital Management Global Magnum 1.37 100k 8/1/1997 59 Hyman Beck and Company Global Portfolio 1.38 1,000k 3/1/1991 58 ROW Asset Managment Row Diversified Fund, L.P. 1.46 1,000k 11/1/2011 57 Parizek Capital Currency Program 1.48 1,000k 4/1/2006 56 Transtrend B.V. DTP – Enhanced Risk (USD) 1.58 10,000k 1/1/1995 55 Manning & Napier MN Xenon Global Fixed Income Program 1.60 2,000k 8/1/2004 54 Manning & Napier MN Xenon Managed Futures (2x) Program 1.62 5,000k 6/1/2006 53 Eclipse Capital Management Global Monetary 1.64 5,000k 8/1/1990 52 Winton Capital Management Diversified 1.65 50,000k 10/1/1997 51 Transtrend B.V. DTP – Enhanced Risk (JPY) 1.69 10,000k 8/1/2004 50 SCT Capital Management The Adaptive Quant Trading (AQT) Program 1.70 10,000k 8/1/2009 49 Transtrend B.V. DTP – Enhanced Risk (EUR) 1.76 10,000k 8/1/1999 48 Rotella Capital Management Rotella Polaris Program (Diversified) 1.88 10,000k 1/1/1991 47 Altradis Capital AG AlphAlgo 2.03 100k 5/1/2007 46 Heyden & Steindl GmbH TOMAC2 2.18 5,000k 3/1/2003 45 W.G. Wealth Guardian Ltd. SAFI2 Program (SAFI2) 2.23 1,000k 9/1/1997 44 SEB Asset Management SEB Asset Selection Fund C (EUR) 2.25 1k 10/1/2006 43 Jaguar Investments Ltd Vario Capital Strategy 2.30 1,000k 5/1/2016 42 Drury Capital Diversified Trend-Following Program 2.30 5,000k 5/1/1997 41 White Indian Trading Co. SCS Interest Rate Program (Client) 2.34 250k 8/1/2011 40 GOLDENWATER CAPITAL LTD GOLDENWATER FUND LTD 2.43 150k 1/1/2011 39 Typhon Capital Management, LLC Proteus Dynamic Volatility Program 2.59 250k 10/1/2011 38 UNISystems Research Inc. Wall Street Program 2.71 20k 8/1/2011 37 Quantis Asset Management Intraday Futures 2.82 250k 1/1/2010 36 Blackheath Fund Management Inc. Blackheath Volatility Arbitrage Fund, LP Class A 2.84 100k 10/1/2010 35 Dixon Midland Company LLC Dixon Midland Diversified LLC 2.86 250k 5/1/2011 34 Non Correlated Capital Positive Theta Program 2.86 250k 10/1/2007 33 Non Correlated Capital Positive Theta Fund 2.88 50k 10/1/2007 32 Quantis Asset Management PFM Systematic 3.00 15k 5/1/2010 31 Manning & Napier MN Xenon Global Fixed Income (2x) Program 3.00 1,000k 5/1/2010 30 Lynx Asset Management AB Lynx Program 3.06 75k 5/1/2000 29 Rivoli Fund Management Rivoli International Fund (V9) 3.13 5,000k 1/1/2002 28 Emil van Essen Spread Trading Program 3.18 5,000k 12/1/2006 27 Altitude Principle Advisory Limited Noho Capital - Managed Futures on Asian Equity Indices - Intraday 3.23 5,000k 5/1/2011 26 Neural Capital Ltd Sentinel Trading Program 3.39 2,000k 1/1/2006 25 Alder Capital DAC Alder Global 10 3.40 250k 10/1/2000 24 Diamond Peak Capital LLC Northstar (2x) program 3.49 250k 10/1/2008 23 Ancile Capital Management Global Markets Program 3.72 2,000k 4/1/2005 22 Dominion Capital Sapphire Program 3.86 3,000k 5/1/2005 21 AllMountain Capital AG Mount Denali Global Trends 4.03 160k 7/1/2007 20 Quantum Leap Capital Management Managed Account Program 4.20 300k 8/1/2006 19 T2 ASSOCIATES, INC. T2 Associates Contrary #1 Pool 4.34 25k 4/1/2010 18 Crescent Bay Capital Management Premium Stock Index Program 4.36 10k 10/1/2005 17 Rivoli Fund Management Rivoli International Fund (E) 4.54 5,000k 10/1/1996 16 GLOBIVEST LLC Alpha Program 4.56 50k 4/1/2009 15 Soaring Pelican, LLC Diversified S&P Program 4.65 100k 1/1/2011 14 FORT LP Fort Global Contrarian 4.69 2,000k 10/1/2002 13 Brandywine Asset Management Brandywine Symphony Preferred Fund, LP 4.86 100k 7/1/2011 12 Sequoia Hill Capital Management SHCM British Pound AP 5.63 50k 8/1/2011 11 Quantis Asset Management Ulysses Futures 5.63 1,000k 7/1/2009 10 Mesirow Financial Investment Management, Inc. Emerging Markets Currency Alpha Programme 5.83 10,000k 2/1/2008 9 Strategic Capital Advisors LLC Contrarian 500 5.84 500k 12/1/2003 8 FORT LP Fort Global Diversified 5.90 2,000k 10/1/1993 7 Alder Capital DAC Alder Global 20 6.80 250k 2/1/2001 6 Arcanum Asset Management Equity Index Option Program (Prop) 7.00 500k 7/1/2006 5 Future Trade AG Thales Swing Trading Programme 8.39 250k 6/1/2007 4 Crabel Capital Management WPD Crabel Futures Program 9.85 1,000k 7/1/2008 3 Gregory P Asset Management LLC Seasonal Spread and Options Strategy 9.90 50k 9/1/2009 2 Dendrich Ltd QEP 11.87 50k 12/1/2005 1 Futures Truth Company, FTC-CTA 200K Options Strategy 13.60 200k 12/1/2009 Past performance is not necessarily indicative of future results. The risk of loss in trading commodity futures, options, and foreign exchange ("forex") is substantial. IASG indexes are generated daily based on CTA manager supplied sector focus, investment strategy and performance. To participate in the IASG index, a program must have a minimum track record of 3 year's performance. Other indexes require a minimum two year track record. Strategy based indexes require the program's composition be more than 50% of the specific strategy. It is not possible for an investor to invest in any of the IASG indexes.