AG Capital Management Partners, LP
Discretionary Global Macro
Principal(s): Asim Ghaffar
Strategy: Discretionary / Fundamental / Diversified
Investment Restrictions: 4.7 Exempt - QEPs Only
Statistical Reports are Subscription Based
Trading Description, Risk Strategy & Background
AG Capital employs a discretionary investing approach: we look for opportunities where an imbalance between supply, demand, and inventories (where applicable) may lead to a large price move. Position hold times vary from 1 month to years; no day-trading, no algorithmic trading. Fundamental analysis is used to determine directional exposure, both long and short. Technical analysis is used to determine trade timing: enter and exit positions where extreme asymmetry exists from a risk/reward standpoint.
All positions are sized based off of proprietary risk management model developed and refined over 10 years. ATRMA (average true range moving average) is used as an initial input when calculating position sizes. Portfolio manager discretion and technical measures are used as final inputs into position sizing.
Asim Ghaffar
Chief Investment Officer
Asim has a background in economics, strategy, and investment consulting, as well as futures trading and risk management. Most recently, he worked as an investment consultant in Cambridge Associates, LLC's Boston office, where he advised foundations, universities, private clients, and insurance groups in the U.S. ranging in size from $100 million to $20 billion. Prior to joining Cambridge Associates, Asim was a Principal at Partners Capital Investment Group, LLC, an international investment advisory firm. Before that, he was a strategy consultant at Bain & Company, Inc. He began his career as an economics and business consulting analyst at Charles River Associates, Inc.
MBA, MIT Sloan School of Management
BA, Economics, Dartmouth College
Performance
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ROR | Max DD | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 18.66% | 5.10% | -15.30% | -4.12% | -3.33% | -7.59% | -2.33% | – | – | – | – | – | -11.64% | -29.15% |
| 2025 | 0.56% | 0.18% | 9.37% | 3.99% | -5.66% | 4.96% | -8.78% | 9.25% | 12.66% | -1.95% | -0.49% | 4.76% | 30.20% | -9.67% |
| 2024 | -5.78% | -9.20% | 21.24% | 17.11% | -5.83% | -3.05% | 1.81% | 5.83% | 14.68% | -9.07% | -1.60% | -2.35% | 19.73% | -14.45% |
| 2023 | 3.70% | -2.26% | 4.50% | 7.86% | -6.80% | -1.47% | 5.35% | -7.50% | -8.75% | 7.53% | 2.58% | 5.99% | 9.06% | -18.34% |
| 2022 | -0.84% | 4.42% | 10.25% | -5.70% | -8.98% | -0.53% | 12.50% | -8.77% | -0.03% | -9.02% | 5.16% | 1.58% | -2.81% | -20.30% |
| 2021 | 1.13% | 2.34% | -7.43% | 3.47% | 14.08% | -13.05% | -1.95% | 1.35% | -4.14% | -3.71% | 9.25% | -4.08% | -5.48% | -20.24% |
| 2020 | 3.09% | 4.93% | 22.65% | 5.94% | -7.81% | -0.77% | 7.99% | 3.42% | 4.04% | 1.59% | -4.20% | -2.48% | 41.80% | -8.52% |
| 2019 | 14.00% | -1.53% | 8.38% | -1.52% | 2.30% | 10.21% | -6.11% | 5.54% | -1.71% | -2.26% | -4.53% | 2.44% | 25.76% | -9.12% |
| 2018 | 9.21% | 3.84% | -1.62% | -2.95% | -0.35% | -6.69% | -1.65% | -3.70% | -3.98% | -5.08% | 0.00% | 5.69% | -8.15% | -23.36% |
| 2017 | -16.09% | 4.13% | 8.20% | 0.22% | 8.32% | -3.52% | 6.97% | 16.30% | 8.35% | 6.38% | -7.36% | 2.28% | 34.54% | -16.09% |
| 2016 | 4.26% | 3.49% | -5.47% | -2.75% | -1.97% | 8.12% | 1.15% | -6.71% | -14.96% | 24.76% | -8.00% | -0.76% | -3.90% | -21.81% |
| 2015 | 20.69% | -4.80% | -5.55% | -4.86% | -0.40% | 11.56% | 18.92% | -2.64% | 1.41% | -4.69% | 9.68% | -0.32% | 40.36% | -14.80% |
| 2014 | – | – | – | – | – | – | – | – | – | 11.93% | 22.04% | -11.48% | 20.92% | -11.48% |
Track Record Compiled By: Turnkey Trading Partners (SMA); NAV Consulting (Fund)
Accounting Notes: Returns are net of fees and brokerage commissions and represent the composite performance of individual managed accounts (and not a fund or pool).
PAST PERFORMANCE DOES NOT GUARANTEE FUTURE SUCCESS. THERE IS A RISK OF LOSS IN FUTURES TRADING.