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Manager List    »    Dunn Capital Management    »   

Dunn Capital Management - World Monetary and Agriculture (WMA)

Principal(s): Martin Bergin
Strategy: LT Trend Following / Revsersal
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Investment Restrictions: 4.7 Exempt - Qualified Eligible Persons Only++
Statistical Reports are Subscription Based

Statistics & Program Information

Jun 2025 Return   -2.57% Worst Drawdown (2)    -60.26% Minimum Investment   $10,000,000
YTD Return: -14.99% Losing Streak (3):  -31.22% AUM (5):  $714,000,000
Annualized CROR(1)  17.18% Sharpe Ratio 4% RF ROR(4):  0.38 Calmar Ratio (6):  -0.20
2) Annualized ACROR is based on compounding. Please see Footnotes for more information.
Trading Methodology
100% Systematic
Style Sub-Categories

Reversal
Trading Style
100% Trend Following
Market Sector
19% Stock Indices
13% Currencies
26% Financials
6% Metals
11% Energies
8% Agriculturals
4% Meats
13% Softs
Holding Period
100% Long Term
50% Medium Term
Geographic Sector
Global
Contracts:
Futures

Start Date   Nov-1984 Currency   US Dollars Management Fee    0.00%
Accepting New Accounts   Yes Min Investment    $10,000,000 Incentive Fee    25.00%
NFA Member    Yes Fund Minimum    $0 Other Fees   None
NFA Number    0000526 Margin (7)   24% Avg Comm (8)   
Notional Funds    No Round Turns Per Million (10)    2,000 Max Comm (9)   0.00
Starting Date:  Nov-1984 Currency:  US Dollars
Open to New Investors:  Yes Current Assets:  $714,000,000
Open to US Investors:  Yes Annualized CROR:  11.64%
Minimum Fund Investment:  $0
Minimum Managed Account:  $10,000,000 Current Losing Streak:  -31.22 %
Domocile:   Calmar:  -0.20
Subscriptions:  N/A Sharpe Ratio: 4% RF ROR  0.38
Redemptions:  N/A US Attorney:  Not Listed
Lock Up:  N/A Offshore Attorney:  Not Listed
Hurdle Rate:  N/A Administrator:  Not Listed
Administraton Fee:  0.00% Prime Broker:  Not Listed
Management Fee:  0.00% Auditor:  Not Listed
Incentive Fee:  25.00% NFA Member:  Yes
Selling Fee:  6.00% FINRA Member:  No
Other Fees:  None Other Memberships:  
Type of Fund:
Domicile:
Strategy:
Track Record Prepared By: N/A
Correlations:

Growth of $1,000 VAMI and Monthly Returns

Trading Description, Risk Strategy & Background

DUNN's World Monetary and Agriculture (WMA) Program is 100% systematic long-term trend-following program which began trading in November 1984. The World Monetary and Agriculture Program utilizes DUNN's original trend following algorithm developed in 1974, and encompasses a portfolio of financials, energies, metals and agricultural markets.

DUNN Capital was founded by William A. Dunn, PhD in 1974. Bill was a pioneer in applying quantitative techniques to financial markets and developing rules-based portfolio management. He was in uncharted territory at the time, breaking new ground in choosing to be strictly data-driven in his decision making and eliminating all subjectivity and emotion.

DUNN Capital has been led since 2007 by Martin Bergin, Bill's long-time protege and the President and Owner of the firm. Since taking the reins, Marty has reinvigorated the firm's focus on research and technology and has cultivated a culture of continual improvement. During this new era, DUNN has assembled a talented R&D team of 5 professional researchers and has built a new simulation technology platform from scratch. These investments have been rewarded, with the team implementing two material sets of enhancements (and numerous smaller ones) into the firm's flagship trend following strategy, addressing all three elements of trading: entry, risk control, and exit. The changes have been highly effective in improving the strategy's robustness and risk-adjusted performance.

Today, DUNN manages over $1.4B in client assets worldwide. DUNN's goal is to offer the best in class long term systematic program that performs in the widest range of market conditions possible while still maintaining a trend-following return profile. The firm remains committed to its core principals of keeping its incentives aligned with those of its clients, staying focused on systematic scientific processes and going where the data leads.

Performance

Monthly Performance Since

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecROR Max DD
2025 6.74% -5.25% -6.89% -3.20% -3.83% -2.57%   -14.58% -19.98%
2024 9.27% 19.58% 2.46% -1.73% -7.47% -4.79% -2.19% -3.54% 1.03% -8.92% 6.20% 0.90% 7.81% -24.85%
2023 -8.94% 11.41% -14.84% 8.24% 3.95% 7.36% -1.11% -2.60% 2.51% -6.43% -11.79% -3.42% -17.87% -21.3%
2022 9.14% 8.45% 13.52% 8.41% -1.24% 1.99% -6.10% 13.15% 7.07% 0.56% -8.25% 4.05% 60.24% -8.25%
2021 -1.66% 3.38% 1.64% 7.66% 2.54% -4.50% -2.57% -0.71% 1.13% 8.78% -15.30% 6.02% 4.12% -15.3%
2020 0.17% -5.77% 7.79% 0.43% -2.87% -3.47% -1.20% 1.67% -5.22% -0.22% -0.43% 8.01% -2.1% -11.31%

Annual Performance

Years198419851986198719881989
ROR5.09%-21.68%3.56%72.15%-18.72%30.51%
Max DD-10.95%-49.76%-26.85%-7.18%-22.66%-28.64%
Years199019911992199319941995
ROR51.55%16.91%-21.78%60.28%-19.33%98.69%
Max DD-11.23%-14.93%-25.45%-5.02%-35.08%-6.52%
Years199619971998199920002001
ROR58.21%44.60%13.72%13.34%13.08%1.10%
Max DD-17.44%-11.97%-18.05%-13.18%-41.46%-23.52%
Years200220032004200520062007
ROR54.05%-13.41%-16.68%-16.41%3.08%7.60%
Max DD-23.41%-28.86%-36.86%-27.04%-26.01%-36.36%
Years200820092010201120122013
ROR51.45%-0.58%30.75%6.36%-18.62%34.16%
Max DD-27.93%-13.11%-8.73%-22.72%-23.20%-16.99%
Years201420152016201720182019
ROR35.65%10.92%-5.39%21.74%-19.97%16.91%
Max DD-7.97%-16.64%-17.25%-7.91%-30.48%-16.53%
Years202020212022202320242025 YTD
ROR-2.10%4.12%60.24%-17.87%7.81%-14.58%
Max DD-11.31%-15.30%-8.25%-21.30%-24.85%-19.98%


PAST PERFORMANCE DOES NOT GUARANTEE FUTURE SUCCESS. THERE IS A RISK OF LOSS IN FUTURES TRADING.

Accounting Notes:

Track Record includes notional and proprietary funds including interest income, expenses and pro forma fees of 0% and 25%.

++Qualified Eligible Investors Only:

A Qualified Eligible Person must meet the following two requirements: 1) the investor must first be an accredited investor. The most common ways for this are to either have a net worth of $1,000,000 or more OR an annual income of $200,000 or more for the last two years OR, combined with a spouse, $300,000 per year for two years, 2) the investor must meet an additional portfolio requirement, which is having $4,000,000 in securities holdings OR the person must have on deposit with a Futures Commission Merchant at least $400,000 in exchange-specified initial margin and option premiums, and required minimum security deposit for retail forex transactions).

Exemptions:

PURSUANT TO AN EXEMPTION FROM THE COMMODITY FUTURES TRADING COMMISSION IN CONNECTION WITH THE ACCOUNTS OF QUALIFIED ELIBIBLE PERSONS, THIS BROCHURE OR ACCOUNT DOCUMENT IS NOT REQUIRED TO BE, AND HAS NOT BEEN, FILED WITH THE COMMISSION. THE COMMODITY FUTURES TRADING COMMISSION DOES NOT PASS UPON THE MERITS OF PARTICIPATING IN A TRADING PROGRAM OR UPON THE ADEQUANCY OR ACCURACY OF THE COMMODITY TRADING ADVISOR DISCLOSURE. CONSEQUENTLY, THE COMMODITY FUTURES TRADING COMMISSION HAS NOT REVIEWED OR APPROVED THIS TRADING PROGRAM OR THIS BROCHURE OR ACCOUNT DOCUMENT.

RISK DISCLOSURE

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.

THIS MATTER IS INTENDED AS A SOLICITATION FOR MANAGED FUTURES. THE RISK OF TRADING COMMODITY FUTURES, OPTIONS, FOREIGN EXCHANGE ('FOREX') AND/OR CRYPTOCURRENCIES IS SUBSTANTIAL. THE HIGH DEGREE OF LEVERAGE ASSOCIATED WITH COMMODITY FUTURES, OPTIONS AND FOREX CAN WORK AGAINST YOU AS WELL AS FOR YOU. THIS HIGH DEGREE OF LEVERAGE CAN RESULT IN SUBSTANTIAL LOSSES, AS WELL AS GAINS. YOU SHOULD THEREFORE CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. IF YOU ARE UNSURE YOU SHOULD SEEK PROFESSIONAL ADVICE. AN INVESTOR MUST READ AND UNDERSTAND THE CTA’S CURRENT DISCLOSURE DOCUMENT BEFORE INVESTING. THERE ARE NO GUARANTEES OF PROFIT NO MATTER WHO IS MANAGING YOUR MONEY.

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.