Flash Report

Stats as of 6/17/22 2 PM CST

May Flash Report

Last month, we introduced our affiliate firm Le Mans Trading. The goal of this firm is to give access to three distinct strategies across different volatility targets. This month we feature our low target volatility fund: The Hyperion Fund. In today’s current market environment, investors across all asset classes looking for more stable, consistent returns would have interest in this strategy. Below is an excerpt from our monthly letter:

While opportunity sets were less than ideal, The Hyperion Fund recorded a gain of +0.30% in May. Small gains were achieved throughout the month as the S&P faltered on the first trading day of May. As the month progressed, and the S&P rallied from lows previously reached in March of 2021, a key volatility metric known as skew (a measure that compares the prices of options at varying strike prices) plummeted to extreme lows. These levels indicate a high degree of complacency and compressed the ratio spread pricing making the risk/reward opportunities less attractive. We believe that volatility markets are under-appreciating near-term risks and so look for them to “catch up” to equity markets which we see uncovering many new trading opportunities.

Investors wanting to learn more, please email us.

Soft Landing? Look Out Below!
We addressed the potential for inflation to accelerate in May 2021 in our article “Inflation Coming?” and predicted that hard assets would begin to rally. Even before the invasion of Ukraine, we saw energy and real estate soar along with risk assets like stocks and cryptocurrencies.
> Read more…

Le Mans Trading LLC Offerings
FundMin AcctMay-22YTDTarget Vol
Hyperion$250k0.301.4510
Mustang$250k1.970.6020
Triple T$250k-7.5516.6530
S&P 500 Index0.01-14.70

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.

Established Track Record > 5 Years
CTA/ProgramAssetsMay-22YTDStyle/Sector
Adalpha Asset Management
Diversified Short-Term
$44.1M4.997.77Short Term
Diversified
Genio Capital Ltd.
PRIMO (2L) Systematic Macro
$150M-0.302.04Short Term
Diversified
Quantica Capital AG
Managed Futures
$841M-0.5013.31Systematic
Long Term Trend
Jaguar Investments Ltd
Aegir Capital Strategy
$70.6M2.227.21Systematic
Energy
AG Capital Management
Discretionary Global Macro 
$106M-8.98-2.02Discretionary
Global Macro
S&P 500 Index0.01-14.70

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.


Emerging Track Record < 5 Years
CTA/ProgramMin AcctMay-22YTDStyle/Sector
Cayler Capital
Systematic Energy Diversified
$250k-1.3635.51Energy
Sigma Advanced Capital
Carbon Neutral Alpha
$400k-1.92-1.93Carbon Neutral
Strategy
NWOne LLC
Diversified Strategy
$350k2.429.80Systematic
Diversified
Absolute Return Capital Management
Ionic Strategy
$500k-1.7510.38Systematic
Diversified
PGM Asset Management, LLC
Trident
$500k-1.0717.98Short Term
Systematic
S&P 500 Index0.01-14.70

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.


Top Programs Last Month

Managers with assets greater than $10M

CTA/ProgramMayCARORWDD
Skylar Capital Management
Natural Gas and Power Strategy
18.1637.21-64.04
Rosetta Analytics Inc.
DL One
7.3813.16-7.18
Adalpha Asset Management, LLC
Diversified Short-Term Program
4.998.55-14.10
Deep Field Capital AG
Intraday Crisis Alpha Program (ICA)
4.468.49-17.55
Tianyou Asset Management, LLC
Tianyou Trading Strategy
3.8117.65-38.52

> See more

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.


Top Programs Last 12 Months

Managers with assets greater than $10M

CTA/Program1yrSharpeWDD
Skylar Capital Management
Natural Gas and Power Strategy
321.700.79-64.04
RCMA Capital LLP
Merchant Commodity Fund
111.170.84-36.75
Mulvaney Capital Management
Global Markets Fund
81.870.53-45.08
AIS Capital Management, L.P.
MAAP (2x-4x) Composite
41.830.40-78.95
Drury Capital
Diversified Trend-Following Program
40.970.57-32.52

> See more

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.


Top Programs Last 36 Months

Managers with assets greater than $10M

CTA/Program3yrSharpeWDD
Skylar Capital Management
Natural Gas and Power Strategy
629.240.79-64.04
AIS Capital Management, L.P.
MAAP (2x-4x) Composite
271.810.40-78.95
RCMA Capital LLP
Merchant Commodity Fund
233.800.84-36.75
Mulvaney Capital Management
Global Markets Fund
183.120.53-45.08
Tactical Investment Management
Tactical Institutional Commodity Fund
115.030.70-38.84

> See more

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.


IASG Indexes
CTA/Program IndexMayYTD1yr
Trend Following Strategy Index-1.2914.5620.36
Diversified Trader Index-1.199.9613.32
Systematic Trader Index-0.547.4310.03
IASG CTA Index-0.378.0011.14
Discretionary Trader Index-0.306.7711.06

> See all indexes

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.


Return Summary
Active CTAs/Programs
As of June 17, 2022372
Through May ’22286 (76.9%)
Last 60 Days86 (23.1%)
May 2022 ROR
Managers with (+)117
Managers with (-)166
Average (+)2.64%
Average (-)-2.42%
Highest18.16%
Average-0.32%
Lowest-25.67%

> See latest stats

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.