Ahead Capital Management, LLC
Global Macro Tactical Opportunities Strategy
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 monitored 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 | -1.88% | 1.01% | -6.04% | -1.57% | -0.13% | -2.57% | 2.87% | – | – | – | – | – | -8.25% | -10.81% |
| 2025 | 3.70% | 0.55% | 1.05% | -2.22% | 1.85% | 0.90% | 0.53% | 0.63% | 0.56% | 1.07% | 1.43% | 1.03% | 11.55% | -2.22% |
| 2024 | 3.36% | -1.75% | 1.94% | -3.81% | 3.45% | -1.29% | 1.46% | -2.82% | 0.03% | 1.34% | 2.43% | -0.61% | 3.47% | -3.81% |
| 2023 | 1.19% | -1.34% | 1.83% | -2.57% | 2.82% | 3.11% | 3.35% | 0.86% | 0.85% | 2.04% | 1.23% | -1.03% | 12.85% | -2.57% |
| 2022 | 4.89% | 2.65% | -0.60% | -1.82% | 0.64% | 2.72% | 1.14% | 0.31% | 1.74% | -3.12% | 2.72% | 1.08% | 12.78% | -3.12% |
| 2021 | 0.71% | -0.72% | -0.35% | -0.30% | 0.53% | 1.79% | -0.10% | -5.57% | -1.04% | 16.94% | 0.68% | 6.81% | 19.33% | -6.65% |
| 2020 | – | – | 5.86% | -2.88% | 1.53% | -0.77% | -0.55% | -5.81% | 1.17% | -3.02% | 16.34% | 0.15% | 10.92% | -10.07% |
Track Record Compiled By: Compliance Supervisors
Accounting Notes: Net portfolio returns (inclusive of a monthly pro-forma performance fee of 20%) were compiled by Compliance Supervisors International Inc, (CSI) from monthly statements obtained independently by CSI from Interactive Brokers. The monthly returns rep resent those of one client that executed power of attorney with Anton Barinov, with NAV of $ 8.4 million as of November 30, 2024. In total, as of November 30, 2024, Anton Barinov maintained discretionary authority over 15 client accounts all of which are qualified as accounts of family and friends, as well as his personal account, with aggregate NAV of ~$19.1 million as of November 2024. Since March 2020, Anton Barinov has been operating pursuant to Section 4m (1) of the Commodity Exchange Act whereby an exemption from CTA registration exists for a person that has not furnished commodity trading advice to more than 15 persons and does not hold himself out generally to the public as a CTA. It is expected that at least some of those accounts will become part of Ahead Capital Management LLC trading program over the next several months.
PAST PERFORMANCE DOES NOT GUARANTEE FUTURE SUCCESS. THERE IS A RISK OF LOSS IN FUTURES TRADING.