Systematic Trader Index For May 2015 Need help with terms? Monthly Rankings Show ranking for: January February March April May June July August September October November December 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 May 2015 Min Inv Inception 252 Kinkopf Capital Management KCM S&P (Proprietary) -16.68 100k 1/1/1999 251 GIC Trading LLC Global Diversified Trading Program -10.05 500k 11/1/1998 250 Parizek Capital Futures Trading Program -8.32 500k 4/1/2000 249 Manning & Napier MN Xenon Global Fixed Income (2x) Program -8.00 1,000k 5/1/2010 248 Estlander & Partners Alpha Trend II - Class P -7.46 100k 12/1/2008 247 Purple Valley Capital, Inc. Diversified Trend 1 -6.87 100k 8/1/2008 246 Conquest Capital Group Conquest Macro -6.35 250k 5/1/1999 245 IKOS IKOS FX Fund -5.64 1,000k 3/1/2008 244 Saxon Investment Corporation Aggressive Diversified Program -5.26 2,000k 11/1/1993 243 Silicon Valley Quantitative Advisors US Quantitative Portfolio (UQP) -5.14 200k 11/1/1999 242 TMS Capital Limited Arktos Global Currency Program II -4.93 100k 2/1/2008 241 Eagle Trading Systems Inc. Eagle Quantitative Macro -4.26 10,000k 10/1/2006 240 Sona Trading Strategies LLC. Diversified Program -4.12 1,000k 9/1/2006 239 Zoi Capital, LLC Telio Program (Client) -3.96 200k 4/1/2010 238 Covenant Capital Management Aggressive Program -3.93 3,000k 2/1/2004 237 Neural Capital Ltd Sentinel Trading Program -3.92 2,000k 1/1/2006 236 Manning & Napier MN Xenon Global Fixed Income Program -3.80 2,000k 8/1/2004 235 Qbasis Invest Futures Fund A -3.75 100k 4/1/2008 234 Claughton Capital Institutional Program -3.69 1,000k 10/1/2005 233 Salus Alpha Capital Ltd Salus Alpha Global Alpha (GAX) -3.63 1,000k 3/1/2003 232 Qbasis Invest Futures Fund B -3.39 100k 3/1/2009 231 Typhon Capital Management, LLC Chiron Currency Program -3.27 250k 2/1/2008 230 Eclipse Capital Management Global Monetary -3.23 5,000k 8/1/1990 229 Covenant Capital Management Original Program -3.18 5,000k 9/1/1999 228 HB Capital Management Inc. Diversified Program -3.01 50k 3/1/2008 227 Transtrend B.V. DTP – Enhanced Risk (USD) -3.01 10,000k 1/1/1995 226 Global Vista Advisors, LLC Global Vista Options ("GVO") -2.90 50k 10/1/2010 225 John Locke Investments JL Commodity Long Flat Program -2.88 5,000k 12/1/2007 224 Transtrend B.V. DTP – Enhanced Risk (EUR) -2.78 10,000k 8/1/1999 223 Futures Truth Company, FTC-CTA MS4 -2.73 250k 10/1/2007 222 Amplitude Capital International Limited Klassik Strategy -2.72 1,000k 9/1/2009 221 IKOS IKOS Futures Fund -2.70 1,000k 2/1/2010 220 Transtrend B.V. DTP – Enhanced Risk (JPY) -2.69 10,000k 8/1/2004 219 Saxon Investment Corporation Diversified Program -2.51 3,000k 9/1/1988 218 JKI-Futures, LLC ETIRON Large 2x (Client) -2.45 1,000k 8/1/2012 217 Gladius Asset Management Fulham Program -2.44 2,000k 1/1/2008 216 Cambridge Strategy Asset Management LTD Extended Markets Alpha Program -2.41 10,000k 4/1/2004 215 Abraham Trading Company Diversified Program -2.37 10,000k 1/1/1988 214 ALFAKRAFT ALFA Commodity Fund -2.34 16k 6/1/2010 213 Mehnert Capital Management, LLC DTP (Client) -2.34 1,000k 3/1/2012 212 Typhon Capital Management, LLC Metis Momentum Macro Program -2.33 500k 4/1/2013 211 Estlander & Partners Alpha Trend -2.27 30,000k 10/1/1991 210 Superfund Group Superfund Red USD SICAV -2.27 10k 3/1/2013 209 Bridgeton Fund Management, LLC Bridgeton Tactical Advisors Fund -2.25 25k 4/1/1991 208 ROW Asset Managment Row Diversified Fund, L.P. -2.24 1,000k 11/1/2011 207 Metolius Capital LLC Metolius Diversified -2.22 100k 6/1/2010 206 Glider Trading LLP Glider Trading Strategy (Class C) -2.17 500k 9/1/2013 205 Revolution Capital Management Alpha Fund -2.16 50k 1/1/2005 204 County Cork LLC County Cork Fusion Equity -2.13 1,000k 10/1/2013 203 Superfund Group Superfund Red EUR SICAV -2.11 10k 3/1/2013 202 Aquantum Aquantum Global Systematic Program (AGS) -2.04 5,000k 7/1/2013 201 Auspice Capital Advisors Ltd Auspice Diversified Program -2.03 1,500k 4/1/2006 200 Aquantum Aquantum Global Systematic UCITS Fund (I) -2.00 500k 3/1/2013 199 John Locke Investments Cyril Systematic Program -1.97 8,000k 7/1/2000 198 Revolution Capital Management Alpha Program -1.95 5,000k 6/1/2007 197 Emil van Essen Long-Short Commodity Program -1.94 1,000k 6/1/2013 196 ISAM ISAM Systematic Trend Fund -1.90 1,000k 6/1/2001 195 Transtrend B.V. DTP – Standard Risk (EUR) -1.87 10,000k 2/1/1999 194 Insch Capital Management SA Interbank Currency Program - 3X Leverage -1.84 100k 1/1/2000 193 ROW Asset Managment Row Currency Program -1.81 1,000k 11/1/2010 192 Estlander & Partners Freedom -1.79 20,000k 8/1/2010 191 GaveKal Investments S.A. GaveKal Dynamic Futures Fund -1.79 20k 2/1/2013 190 Paradox Capital Management Sentiment Program (1X) -1.78 1,000k 1/1/2013 189 GaveKal Investments S.A. Gavekal Dynamic Futures Euro Currency Fund -1.73 20k 9/1/2013 188 Mobius Asset Management Custom Trading Program -1.70 100k 1/1/2002 187 Alee Capital Management, LLC Poniente Program -1.44 2,500k 1/1/1999 186 Adamah Capital LLC Asset Allocator Program -1.40 50k 3/1/2011 185 Southwest Managed Investments, LLC Global Diversified -1.35 200k 1/1/2002 184 TRYCON G.C.M. AG Tungsten TRYCON Basic Invest HAIG, Class C (UCITS IV) -1.23 100k 2/1/2010 183 Matic Capital Allocation, LLC Matic Program -1.23 250k 1/1/2013 182 Argus Capital Management Pty Ltd Dynamic Multi-strategy Program -1.23 1,000k 10/1/1996 181 3D S&P Program (Client) -1.20 100k 11/1/2010 180 White Indian Trading Co. SCS Program (Client) -1.15 250k 2/1/2011 179 Conquest Capital Group Conquest Select -1.15 250k 6/1/2004 178 Briarwood Capital Management, Inc. Diversified 2XL -1.13 250k 11/1/2004 177 Turning Wheel Capital, Inc. Pure Alpha Aggressive -1.07 5,000k 1/1/2012 176 Kaiser Trading Group Kaiser Trading Fund 2X SPC - Share Class B -1.07 1,000k 10/1/2006 175 QMS Capital Management LP QMS Diversified Global Macro Strategy -1.05 5,000k 6/1/2010 174 Wimmer Horizon LLP Managed Account -1.02 5,000k 5/1/2005 173 Campbell & Company, LP Campbell Managed Futures Composite (f/k/a FME Large) -1.00 50,000k 4/1/1983 172 Quality Capital Management Global Diversified Programme -0.96 10,000k 12/1/1995 171 Alee Capital Management, LLC Mistral Program -0.96 2,500k 1/1/1999 170 Revolution Capital Management Mosaic Institutional Program -0.92 25,000k 9/1/2009 169 Millburn Corporation Multi-Markets Program -0.91 25,000k 10/1/2004 168 Non Correlated Capital Positive Theta Fund -0.90 50k 10/1/2007 167 Cambridge Strategy Asset Management LTD Emerging Markets Alpha Programme -0.90 10,000k 2/1/2008 166 Millburn Corporation Diversified Program -0.89 20,000k 2/1/1977 165 Non Correlated Capital Positive Theta Program -0.86 250k 10/1/2007 164 Clarke Capital Management Global Basic -0.83 50k 2/1/1996 163 Welton Investment Partners Welton Global -0.79 10,000k 6/1/2004 162 The Tidal Group M2 SP500 Emini Futures Program -0.78 50k 1/1/2013 161 Superfund Group Superfund Green Q-AG -0.72 2k 3/1/1996 160 Mondiale Asset Management Mondiale Trading Program -0.70 0k 9/1/1997 159 QERI LLC QERI LLC Fundamental Commodity Strategy -0.61 2,000k 7/1/2012 158 Kaiser Trading Group Kaiser Global Diversified Program - Class B -0.58 1,000k 3/1/1998 157 Salus Alpha Capital Ltd Salus Alpha Directional Markets (DMX) -0.56 1,000k 3/1/2003 156 Witter & Lester, Inc. Stock Index Futures Trading Program -0.56 400k 1/1/1988 155 Briarwood Capital Management, Inc. Diversified Trading Program -0.54 3,000k 7/1/2001 154 Hawksbill Capital Management Global Diversified -0.52 5,000k 11/1/1988 153 IStar Capital B.V. IStar Systematic Fund -0.48 1,000k 9/1/2011 152 Brandywine Asset Management Brandywine Symphony Preferred Fund, LP -0.47 100k 7/1/2011 151 Dreiss Research Corporation Diversified Program -0.47 1,000k 5/1/1991 150 Mobius Asset Management Energy Weighted Program -0.46 250k 1/1/2005 149 Hyman Beck and Company Global Portfolio -0.40 1,000k 3/1/1991 148 Turning Wheel Capital, Inc. Pure Alpha -0.38 10,000k 1/1/2012 147 Seven Capital Management Seven Absolute Return -0.37 100k 6/1/2009 146 Superfund Group Superfund Green L.P. Series B -0.34 5k 10/1/2002 145 Manning & Napier MN Xenon Managed Futures (2x) Program -0.34 5,000k 6/1/2006 144 SEB Asset Management SEB Asset Selection Opportunistic Fund C (EUR) -0.33 1k 6/1/2009 143 Dominion Capital Sapphire Program -0.25 3,000k 5/1/2005 142 Kelly Angle Inc. Genesis Program -0.25 2,000k 4/1/2000 141 JLC Futures Management Company JLC Managed Futures Fund I, LP. -0.24 100k 8/1/2009 140 SEB Asset Management SEB Asset Selection Fund C (EUR) -0.22 1k 10/1/2006 139 Blake Capital Management, Inc. SRD Currencies -0.20 100k 3/1/2013 138 SMN Investment Services GmbH smn Diversified Futures Fund (1996) -0.19 0k 11/1/1996 137 Ring Capital Management LLC S&P E-Mini Select -0.17 100k 1/1/2012 136 Vivienne Investissement OUESSANT UCITS FUND -0.17 100k 5/1/2012 135 Superfund Group Superfund Green L.P. Series A -0.17 5k 10/1/2002 134 FORT LP Fort Global Diversified -0.14 2,000k 10/1/1993 133 Tactical Investment Management Tactical Institutional Commodity Program -0.13 10,000k 4/1/1993 132 3D Bull Program (Client) -0.12 10k 11/1/2010 131 Clarke Capital Management FX Plus -0.11 1,000k 5/1/2004 130 Superfund Group Superfund Green Master -0.11 2,000k 5/1/2001 129 Rotella Capital Management Rotella Orion (Short-Term) Program -0.11 10,000k 3/1/2006 128 Quantica Capital AG Quantica Managed Futures -0.10 5,000k 1/1/2005 127 Cardwell Investment Technologies Cardwell Investment Technologies 1x Program -0.04 4,000k 11/1/2008 126 Auspice Capital Advisors Ltd Auspice Managed Futures Excess Return Index -0.04 5,000k 12/1/2010 125 Witter & Lester, Inc. Redstone -0.03 500k 9/1/1994 124 NovoDyn Advisors LLC NDC Mean Reversion FT - A -0.02 100k 3/1/2013 123 Jaguar Investments Ltd Vario Capital Strategy -0.01 1,000k 5/1/2016 120 Mobius Asset Management Diversified Program 0.00 250k 3/1/2004 121 White Indian Trading Co. STAIRS - Futures Program (Client) 0.00 250k 10/1/2008 122 SinoPac Asset Management SinoPac Multi Strategy Quant Fund 0.00 250k 10/1/2009 119 Acorn Global Investments Inc. Acorn Diversified Program 0.03 10k 7/1/2005 118 M.S. Capital Management Global Diversified Program 0.04 2,000k 11/1/1998 117 3D Intraday Program (Client) 0.05 100k 2/1/2012 116 Hoss Capital Management, LLC Hoss Agricultural Futures Program 0.09 100k 8/1/2011 115 Drury Capital Diversified Trend-Following Program 0.10 5,000k 5/1/1997 114 Quantmetrics Capital Management LLP Premier 12V Strategy 0.13 10,000k 4/1/2003 113 Candriam Investor Group Alternative Return Systemat 0.14 125k 1/1/2007 112 Cardwell Investment Technologies Cardwell Investment Technologies 3x Program 0.24 4,000k 2/1/2011 111 Quality Capital Management Alpha Financials Program 0.24 10,000k 6/1/2012 110 1OAK Capital Limited ACORN Commodity 0.24 5,000k 5/1/2012 109 Hansa Capital Management, LLC Hansa Investment & Trading, LLC - Long / Short Option Trading Strategy 0.26 6/1/2012 108 Abraham Investment Management Formula 72 H 0.28 150k 8/1/2012 107 Somers Brothers Capital Diversified Futures Program #1 0.28 100k 1/1/2005 106 Superfund Group Superfund Green Gold A (SPC) 0.29 5k 10/1/2005 105 Diamond Capital Management Enhanced S&P Program 0.30 100k 10/1/2009 104 Certeza Asset Management Macro Vega 0.30 200k 1/1/2012 103 Diversified Capital Management Diversified Strategies Investment Fund 0.35 100k 11/1/2012 102 Soaring Pelican, LLC Diversified S&P Program 0.36 100k 1/1/2011 101 Superfund Group Superfund Green Gold B (SPC) 0.39 50k 10/1/2005 100 Robust Methods LLC Macro Managed Account 0.43 5,000k 1/1/2005 99 EMC Capital Advisors, LLC EMC Alpha Program 0.43 5,000k 6/1/2013 98 Crabel Capital Management WPD Crabel Futures Program 0.44 1,000k 7/1/2008 97 ALFAKRAFT ALFA Rubicon Fund 0.46 16k 8/1/2011 96 Superfund Group Superfund Green Gold C (SPC) 0.46 100k 10/1/2005 95 Rabar Market Research Diversified Program 0.47 2,000k 1/1/1989 94 ALFAKRAFT ALFA Edge Fund 0.50 16k 12/1/2011 93 Mark J. Walsh Company Standard Program 0.53 2,000k 9/1/1985 92 Molinero Capital Management LLP Briarwood Molinero Combined Futures Program 0.55 1,500k 7/1/2005 91 Wavefront Global Asset Management IMFC Global Concentrated 0.55 500k 4/1/2009 90 Romanesco Capital Management B.V Persistence Program 0.58 5,000k 9/1/2005 89 Esulep LLC MAX Esulep LLC MAX 0.65 500k 5/1/2008 88 Degraves Capital Management Pty Ltd Degraves Global Diversified Program 0.68 1,000k 1/1/2013 87 EMC Capital Advisors, LLC Classic 0.71 5,000k 1/1/1985 86 Quantitative Investment Management Quantitative Global Program 0.73 20,000k 10/1/2003 85 Garraway Capital Management LLP Garraway Financial Trends 0.73 100k 9/1/2012 84 IDS Capital IDS F&F Systematic Trading 0.75 50k 7/1/2013 83 RAM Management Group RAM MRTP 1X-Conservative 0.76 1,000k 9/1/1993 82 NuWave Investment Management, LLC NuWave Investment Partners LP 0.77 250k 6/1/2001 81 W.G. Wealth Guardian Ltd. SAFI2 Program 0.80 1,000k 9/1/1997 80 Typhon Capital Management, LLC Proteus Dynamic Volatility Program 0.80 250k 10/1/2011 79 Aquantum Aquantum Commodity Spread Program (ACS) 0.81 5,000k 7/1/2013 78 Wavefront Global Asset Management IMFC Global Investment Program 0.85 2,000k 2/1/2007 77 AI1 CTA Euro Invest AI1 CTA Euro Invest 0.87 125k 5/1/2010 76 Tomas Capital Pty Ltd GCAF | AUD (managed by Tomas Capital Australia Pty Ltd) 0.88 50k 7/1/2011 75 NuWave Investment Management, LLC Combined Futures Portfolio 0.93 5,000k 6/1/2001 74 Emil van Essen Spread Trading Program 0.93 5,000k 12/1/2006 73 Fenja Fund Multi Strategy Ltd. Fenja Fund Multi Strategy Ltd. 0.95 50k 10/1/2010 72 Clarke Capital Management Millennium 0.96 1,000k 1/1/1998 71 Sandpiper Asset Management Sandpiper Global Macro Program 1.00 1,000k 8/1/2012 70 Systematic Alpha Management Systematic Alpha Futures Program 1.01 100k 6/1/2004 69 Melissinos Trading Eupatrid Program 1.07 50k 1/1/2011 68 Hehmeyer Capital Management, LLC Hehmeyer Systematic Treasury & Equity Strategy 1.09 250k 3/1/2010 67 R Best LLC R Best Private Client Program 1.09 50k 2/1/2010 66 Eagle Trading Systems Inc. Eagle Global Financials 1.13 10,000k 1/1/1996 65 MERIT Alternative Investments GmbH Futures Portfolio 1.15 2,000k 6/1/1998 64 Crescent Bay Capital Management Premium Stock Index Program 1.17 10k 10/1/2005 63 Crabel Capital Management Crabel Multi-Product 1.17 1,000k 3/1/1998 62 Vision Capital Management Global Futures 1.24 500k 2/1/2012 61 FORT LP Fort Global Contrarian 1.28 2,000k 10/1/2002 60 Intex Capital Covered Options Program 1.29 50k 1/1/2012 59 Chesapeake Capital Diversified (LV) 1.30 100k 2/1/1988 58 Auctos Capital Management Auctos Global Diversified 1.34 3,000k 11/1/2007 57 Blackwater Capital Management Tactical Equity 1.36 500k 12/1/2013 56 Global Sigma Group, LLC Global Sigma Plus 1.44 3,000k 11/1/2009 55 Clarke Capital Management Jupiter 1.44 3,000k 5/1/2005 54 Pinstripe Trading, LLC Standard 1.61 125k 8/1/2009 53 Double Helix Capital Management Double Helix 1.62 50k 1/1/2012 52 Rotella Capital Management Rotella Polaris Program (Diversified) 1.63 10,000k 1/1/1991 51 Manning & Napier MN Xenon Futures Alpha Program 1.65 7,500k 6/1/2013 50 Red Rock Capital, LLC Systematic Global Macro 1.66 500k 9/1/2003 49 Paskewitz Asset Management LLC Contrarian S&P Stock Index 1.70 500k 12/1/2003 48 Cauldron Investments, LLC Stock Index Plus 1.71 1,000k 10/1/2009 47 Molinero Capital Management LLP Global Markets Program 1.79 2,000k 7/1/2005 46 Jaguar Investments Ltd Aegir Capital Strategy 1.81 1,000k 1/1/2012 45 AIMhedge Management Ltd. AIM Classic Fund EUR (Institutional) 1.84 100k 1/1/2005 44 Diversified Capital Management Alpha Index 1.93 50k 8/1/2013 43 Trigon Investment Advisors, LLC Foreign Exchange Program 1.99 5,000k 8/1/2000 42 Cambridge Capital Management UK LLP CCM Program 1.99 2,000k 11/1/2012 41 Coloma Capital Futures(r), LLC Hedged Volatility Strategy 2.00 250k 5/1/2013 40 UNISystems Research Inc. ODINET 2.05 10k 12/1/2012 39 Kontra Asset Management Ltd Pure Currency 2.08 100k 10/1/2013 38 Eckhardt Trading Company Evolution Strategies 2.13 20,000k 8/1/1991 37 Urban Tree Capital, LLC UTC Plus (Client) 2.18 100k 3/1/2013 36 dormouse Limited dormouse - Managed Account 2.23 10,000k 7/1/2011 35 Angle Capital Management LLC AIP Program 2.24 100k 1/1/2010 34 Quantmetrics Capital Management LLP Directional 10V Strategy 2.25 10,000k 1/1/2007 33 Quantmetrics Capital Management LLP Quantmetrics Multi Strategy Fund 2.34 1,000k 5/1/2006 32 QTS Capital Management, LLC FX Managed Account 2.39 100k 1/1/2011 31 RAM Management Group MRTP Aggressive 2.39 1,000k 2/1/1998 30 NordIX NordIX AG - Government Bond Strategy (GBS) - (Advisory Mandates, not available for US investors) 2.42 1,000k 9/1/2011 29 Future Trade AG Thales Swing Trading Programme 2.43 250k 6/1/2007 28 Eckhardt Trading Company Evolution Strategies 1.2X 2.48 10,000k 10/1/1991 27 Emil van Essen EvE Systematic Global Opportunities 2.62 1,000k 9/1/2007 26 Red Rock Capital, LLC Commodity Long-Short 2.63 500k 9/1/2013 25 Ancile Capital Management Global Markets Program 2.69 2,000k 4/1/2005 24 White Indian Trading Co. STAIRS (Client) 2.69 250k 5/1/2009 23 Dixon Midland Company LLC Dixon Midland Diversified LLC 2.70 250k 5/1/2011 22 Pacific Capital Advisors Vanguard Program 2.86 100k 4/1/2007 21 Deep Field Capital AG SINGULARITY Fund 2.95 100k 9/1/2011 20 Blue Diamond Asset Management Blue Diamond Non-Directional Strategy 3.04 100k 10/1/2011 19 Glendorn Capital Management LLC Diversified Short-Term Trading Strategy 3.12 2,000k 7/1/2013 18 Ritenour Investment Group, LLC RIG_ES_Client 3.20 25k 3/1/2013 17 DynexCorp Ltd Dynex Regular - Tetra FX Macro High Beta 3.24 1,000k 7/1/2009 16 Paskewitz Asset Management LLC Multi-strategy Futures Program 3.26 3,000k 5/1/2010 15 Camkay Capital Management LLC Stock Indices Short-Term 3.88 100k 3/1/2012 14 Alder Capital DAC Alder Global 20 3.90 2,500k 2/1/2001 13 Millburn Corporation Commodity Program 3.90 25,000k 3/1/2005 12 Clarke Capital Management Worldwide 3.92 250k 1/1/1996 11 Mulvaney Capital Management The Mulvaney Global Markets Fund 4.13 100k 5/1/1999 10 Endeavour Capital LLP Endeavour Pembroke 4.20 2,000k 7/1/2007 9 Superfund Group Superfund Blue SPC Class A (EUR) 4.41 50k 4/1/2005 8 Keck Capital Management LLC The Keck Program 4.45 2,000k 12/1/2003 7 DUNN Capital Management World Monetary and Agriculture Program (WMA) 4.65 100k 11/1/1984 6 DUNN Capital Management D'Best Futures Fund, L.P. 4.71 100k 6/1/1994 5 Pacific Capital Advisors Agilis Program 4.92 100k 12/1/2012 4 Dendrich Ltd QEP 5.25 50k 12/1/2005 3 QQFund.com Investment Program 1 6.14 500k 9/1/2008 2 Superfund Group Superfund Blue SPC Class A (Gold) 7.75 50k 12/1/2007 1 Clarke Capital Management Global Magnum 9.42 100k 8/1/1997 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.