Tracking CTAs since 1994
Ahead Capital Management, LLC
Global Macro Tactical Opportunities (Futures Only)
Principal(s): Anton Barinov
Strategy: Global Macro / G5 Equity & Bond Indexes, Currencies, Commodities
Investment Restrictions: 4.7 Exempt - QEPs Only
Statistical Reports are Subscription Based
Trading Description, Risk Strategy & Background
The strategy pursues tactical opportunities in G5 equity and sovereign bond indexes, as well as currencies and commodities.
- We focus on turning points in market narratives, as well as trades around important macro events
- The strategy is directional and is concentrated on 1-2 themes at a time
- Investment decisions factor in economic fundamentals, price action, investor sentiment and positioning, as well as potential price catalysts
- The strategy is designed so that it could be profitable in any market conditions. Our focus on dynamic interplay between macro events and market narrative has allowed us to be flexible and control downside.
- As a result, the strategy performed well during COVID crisis (Mar 2020), war in Ukraine crisis (Feb 2022), inflation crisis (2022), US banking crisis (Mar 2023) and other moments of rapid market turnarounds.
- The Manager believes that their strategy can provide a good diversification to a portfolio of a qualified investor.
Risk Management Framework
- The maximum portfolio drawdown is set at 10% NAV
- Trades in an attempt to keep losses within 1.5% of NAV in case stop-loss is hit
- Stop-losses are set based on expected volatility of an instrument
- Option strategies are implemented to protect the portfolio against an unexpected
- The portfolio is monitered around the clock since team members are based in different time zones
Risk management was tightened in Q3 2021 to reflect expectations of growing economic uncertainty and market volatility. As part of that, trading became more catalyst-oriented with smaller trade sizes. As a result, portfolio volatility decreased substantially.
Ahead Capital Management LLC (“AC”) is a Global Macro investment firm, based in West Palm Beach, Florida, USA. Mr. Anton Barinov (39) was previously a Director and Head of TMT at Renaissance Capital, an emerging markets bank.
Performance
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ROR | Max DD | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -0.51% | – | – | – | – | – | – | – | – | – | – | – | -0.51% | -0.51% |
| 2025 | 0.78% | 0.55% | 0.48% | 0.26% | 0.39% | 0.20% | 0.14% | 0.15% | 0.31% | 0.25% | 0.55% | 0.35% | 4.50% | 0.00% |
| 2024 | – | – | – | – | – | – | – | – | – | – | 1.24% | 0.45% | 1.70% | 0.00% |
Track Record Compiled By: Compliance Supervisors
Accounting Notes: Note: Net portfolio returns (inclusive of a monthly performance fee of 20%) were compiled by CSI from monthly statements obtained independently by CSI from Interactive Brokers. Monthly rates of return are calculated pursuant to the Only Accounts Traded Method ("OAT"). Under this method, rates of return are computed by dividing the aggregate net performance by the aggregate beginning equity for only those accounts which traded during the entire month and which had no material additions or withdrawals. It excludes new accounts, closed accounts, accounts that were open for only part of the month, and accounts which had material (i.e., 10% or more of beginning equity) additions or withdrawals, and other factors that may possibly distort rates of return. As of November 30, 2024, Ahead Capital Management LLC maintained discretionary authority over 1 client account with total AUM of $ 10.1 million. The net portfolio returns and AuM represent those of one client that executed power of attorney with Anton Barinov, with NAV of $10.0 million as of Nov 30, 2023.
PAST PERFORMANCE DOES NOT GUARANTEE FUTURE SUCCESS. THERE IS A RISK OF LOSS IN FUTURES TRADING.>
Risk Disclosure
PAST PERFORMANCE DOES NOT GUARANTEE FUTURE SUCCESS. IN SOME CASES MANAGED ACCOUNTS ARE CHARGED SUBSTANTIAL COMMISSIONS AND ADVISORY FEES. THOSE ACCOUNTS SUBJECT TO THESE CHARGES, MAY NEED TO MAKE SUBSTANTIAL TRADING PROFITS JUST TO AVOID DEPLETION OF THEIR ASSETS. EACH COMMODITY TRADING ADVISOR ("CTA") IS REQUIRED BY THE COMMODITY FUTURES TRADING COMMISSION ("CFTC") TO ISSUE TO PROSPECTIVE CLIENTS A RISK DISCLOSURE DOCUMENT OUTLINING THESE FEES, CONFLICTS OF INTEREST AND OTHER ASSOCIATED RISKS. A HARD COPY OF THESE RISK DISCLOSURE DOCUMENTS ARE READILY AVAILABLE BY CLICKING ON EACH CTA'S "REQUEST DISCLOSURE DOCUMENT" BUTTON.
THE FULL RISK OF COMMODITY FUTURES, OPTIONS AND FOREX TRADING CAN NOT BE ADDRESSED IN THIS RISK DISCLOSURE STATEMENT. NO CONSIDERATION TO INVEST SHOULD BE MADE WITHOUT THOROUGHLY READING THE DISCLOSURE DOCUMENT OF EACH OF THE CTAS IN WHICH YOU MAY HAVE AN INTEREST. REQUESTING A DISCLOSURE DOCUMENT PLACES YOU UNDER NO OBLIGATION AND EACH DOCUMENT IS PROVIDED AT NO COST. THE CFTC HAS NOT PASSED UPON THE MERITS OF PARTICIPATING IN ANY OF THE FOLLOWING PROGRAMS NOR ON THE ADEQUACY OR ACCURACY OF THE DISCLOSURE DOCUMENTS. OTHER DISCLOSURE STATEMENTS ARE REQUIRED TO BE PROVIDED TO YOU BEFORE AN ACCOUNT MAY BE OPENED FOR YOU.
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. PROSPECTIVE CLIENTS SHOULD NOT BASE THEIR DECISION ON INVESTING IN THIS TRADING PROGRAM SOLELY ON THE PAST PERFORMANCE PRESENTED. ADDITIONALLY, IN MAKING AN INVESTMENT DECISION, PROSPECTIVE CLIENTS MUST ALSO RELY ON THEIR OWN EXAMINATION OF THE PERSON OR ENTITY MAKING THE TRADING DECISIONS AND THE TERMS OF THE ADVISORY AGREEMENT INCLUDING THE MERITS AND RISKS INVOLVED.
AUTUMN GOLD CTA INDEXES ARE NON-INVESTABLE INDEXES COMPRISED OF THE CLIENT PERFORMANCE OF CTA PROGRAMS INCLUDED IN THE AUTUMN GOLD DATABASE AND DO NOT REPRESENT THE COMPLETE UNIVERSE OF CTAS. INVESTORS SHOULD NOTE THAT IT IS NOT POSSIBLE TO INVEST IN THESE INDEXES.