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AIS Capital Management, L.P.

MAAP (2x-4x)

Investment Strategy

MAAP is a discretionary long-term investment process using global economic analysis and technical study of trends to determine the direction and size of futures positions. The MAAP investment process considers both trend-following strategies and valuation levels in making adjustments to size and direction. MAAP maintains long, short or neutral positions in Equities, Fixed Income, Currency, Metals, Agricultural, and Energy.

AIS believes that global economic growth rates, inflation trends, government policies, currency and interest rate trends, and demographic factors all interact to impact price trends in the various markets traded. Fundamental conditions, quantitative and systematic models, and technical analysis determine the timing of and size of new or adjusted positions.

Performance (VAMI)

Monthly Returns

Fund Manager

  John R. Hummel, Principal, Chief Investment Officer. Mr. Hummel has over 40 years experience in portfolio management. He has managed assets for Fortune 500 retirement plans, endowments, foundations and the Federal Reserve retirement plan, as well as high net worth individuals. Prior to founding AIS, Mr. Hummel was a partner at Cowen & Co., a partner at Matuschka & Co., and a managing director at Mitchell Hutchins Asset Management. Mr. Hummel holds a B.S. in Investment Management from Northwestern University. He serves on the Young Life Board of Trustees and the board of directors of Tyndale Seminary, and Family Institute of Connecticut. Bradley C. Stern, Principal, Chief Compliance Officer. Mr. Stern has over 20 years experience in investment management with an emphasis on statistics and capital markets theory. Prior to the founding of AIS, Mr. Stern was an associate at Cowen & Co. where he designed the proprietary modeling system that would later become the basis for AIS’ strategy. Mr. Stern holds a B.B.A. from Emory University. 

General Information

Inception DateOct 1992
Minimum Investment3,000,000 USD
Management Fee2.70%
Performance Fee20.00%
Highwater MarkYes
Phone+1-203-563-1180
E-mail[email protected]
Websitewww.aisgroup.com

Statistics

Total Return Cumulative 947.45%
Sharpe Ratio 0.41
Sortino Ratio 0.41
Winning Months (%) 56.35%
Correlation vs. S&P 500 TR 0.27

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2024 0.77 0.06 12.40 13.33
2023 5.39 -10.87 7.57 0.13 -13.00 0.66 16.44 -2.45 -2.30 -2.30 3.24 -4.04 -4.83
2022 10.62 16.66 7.22 4.98 0.38 -9.61 -4.92 -7.27 -7.97 2.54 3.97 6.30 21.19
2021 8.27 7.11 -7.43 21.93 8.25 -2.50 0.43 -2.98 0.39 7.93 -19.12 16.83 37.82
2020 -8.35 -3.58 -2.14 -1.03 22.36 9.43 15.97 11.67 -8.70 -2.97 15.28 24.85 89.23
2019 2.06 -1.19 -0.49 1.22 -0.97 11.07 -4.69 -5.97 -2.63 1.55 -6.50 6.24 -1.65
2018 7.35 -6.56 2.57 2.01 -2.37 2.62 -4.65 -3.44 3.15 -2.19 -0.11 -1.61 -4.00
2017 3.95 3.34 -5.59 -3.87 -3.57 -2.36 6.64 -2.25 2.25 0.72 2.71 7.23 8.53
2016 4.73 2.96 -2.19 10.17 -1.85 2.66 -8.34 -0.73 4.44 -2.91 -4.47 0.41 3.62
2015 4.29 -5.51 -2.45 5.06 -2.78 -0.89 -11.83 2.57 -0.56 -5.41 -10.56 -3.24 -28.36
2014 -4.36 12.32 1.35 0.80 -3.47 1.85 -11.42 -7.25 -11.70 -7.75 -8.25 -4.10 -36.47
2013 5.60 -10.48 0.17 -5.31 -3.78 -9.28 3.85 11.84 -10.27 -7.19 -4.14 1.38 -26.43
2012 6.30 6.36 -2.73 1.70 -24.19 11.95 12.75 10.76 0.70 -6.19 0.44 -2.19 10.01
2011 -2.04 6.28 8.17 9.99 -9.19 -7.61 9.93 7.89 -30.20 12.13 -3.02 -2.58 -8.86
2010 -18.82 5.47 4.44 3.03 -10.15 -0.92 9.50 -7.10 23.00 11.94 2.90 19.06 40.74
2009 -7.43 -8.62 11.67 3.99 39.04 -8.55 5.08 -4.06 7.70 7.90 14.61 -2.03 64.30
2008 9.71 19.50 -7.05 2.81 8.17 17.74 -14.32 -15.94 -12.81 -33.82 -22.28 -7.62 -52.39
2007 0.62 7.70 -1.08 -1.73 0.58 1.34 3.42 -2.27 18.47 9.07 -0.93 10.87 54.03
2006 6.24 -9.28 9.33 15.05 -2.54 -6.49 3.37 -9.50 -12.14 9.24 12.65 -9.35 1.30
2005 0.32 16.29 4.64 -5.91 0.80 3.06 5.87 4.62 2.15 -11.57 -3.59 11.64 28.50
2004 4.14 10.82 11.61 -7.93 -2.31 -2.18 3.75 3.69 3.04 7.77 2.22 -10.45 23.93
2003 6.58 10.57 -14.42 -6.65 6.16 -2.05 5.23 6.40 4.58 5.33 2.08 9.34 34.76
2002 -2.96 -1.51 3.81 0.26 -5.86 3.30 5.22 5.19 3.93 -12.92 -4.92 4.58 -3.65
2001 -0.91 2.89 10.33 -4.23 -6.10 -0.15 -2.15 0.29 2.36 3.62 -2.49 0.69 3.22
2000 0.07 4.90 -3.25 -8.82 4.38 10.00 -9.01 11.73 -4.14 6.45 -1.46 -1.38 7.19
1999 -3.85 4.16 4.74 5.69 -7.01 13.83 1.28 2.14 -6.62 -1.82 8.61 7.73 30.22
1998 -3.31 -3.83 -10.72 -5.91 -0.75 -7.79 10.67 -7.27 -12.96 -0.36 12.34 9.21 -21.94
1997 1.70 0.32 -2.40 -4.59 -5.69 0.92 -0.69 -8.66 1.33 -5.08 3.61 6.72 -12.77
1996 5.88 -10.64 13.39 5.82 -1.04 8.31 -7.92 9.14 5.82 3.22 0.75 7.20 44.26
1995 4.00 3.85 6.57 4.11 1.36 0.52 0.51 5.97 4.38 -1.92 0.12 -9.18 21.05
1994 -5.06 -8.48 8.07 8.38 4.96 0.43 8.08 -9.62 -1.24 1.52 -3.30 -0.23 1.36
1993 1.67 1.49 -2.30 -0.97 7.72 6.77 2.03 7.43 2.58 1.29 3.26 3.68 40.00
1992 -3.22 0.97 2.13 -0.20
There is a substantial risk of loss in trading commodity futures, equities, options and off-exchange foreign currency products. Past performance is not indicative of future results.
No data filled

Monthly Returns

Performance (VAMI)

Distribution of Monthly Returns

12 Month Rolling ROR

Up Capture vs. S&P 500 TR

Down Capture vs. S&P 500 TR

AUM

Volatility (12 Months Rolling)

Risk/Return Comparison

Drawdown

Instruments

No data filled

Return Statistics

Last Month 12.40%
Year To Date 13.33%
3 Month ROR 13.33%
12 Months ROR 6.75%
36 Month ROR 67.82%
Total Return Cumulative 947.45%
Total Return Annualized 7.74%
Best Month 39.04%
Winning Months (%) 56.35%
Gain Deviation 5.48

Risk Statistics

Standard Deviation Annualized 28.15%
Max Drawdown (Monthly) -78.95%
Max Drawdown Length 142
Worst Month -33.82%
Losing Months (%) 43.65%
Average Losing Month -5.99%
Loss Deviation 5.21
Correlation vs S&P 500 0.27
Correlation vs DJ/CS MF 0.21

Risk/Reward Statistics

Sharpe Ratio 0.41
Sortino Ratio 0.41
Omega Ratio 1.04
Skewness 0.00
Kurtosis 2.35

Drawdown Report

No. Depth (%) Length (Months) Recovery (Months) Start date End date
Fund Index Fund Index Fund Index Fund Index Fund Index
1 -78.95% 142 0 07/2008 -
2 -45.60% 20 29 03/1997 03/2001
3 -25.09% 5 12 05/2006 09/2007
4 -20.11% 2 6 03/2003 10/2003
5 -17.20% 2 3 10/2002 02/2003

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 39.04%-33.82%0.96%0.76%12.40%56.35%
3 Months 61.46%-55.15%2.98%1.35%13.33%55.32%
6 Months 88.39%-70.16%6.23%3.94%9.70%58.45%
1 Year 189.40%-69.28%12.82%7.58%6.75%62.40%
2 Years 342.61%-59.79%26.85%16.68%-5.52%67.61%
3 Years 273.63%-66.79%39.33%27.92%67.82%65.01%
5 Years 445.76%-70.98%56.72%37.12%234.10%73.04%

Time Window Analysis

1 Month3 Months6 Months1 Year2 Years3 Years
Annual Compounded Avg7.74%24.51%54.63%136.91%440.03%1051.71%
% Positive56.35%55.32%58.45%62.40%67.61%65.01%
Avg. Pos. Period6.33%12.79%19.68%31.66%53.13%74.73%
Avg. Neg. Period-5.99%-9.17%-12.67%-18.43%-28.00%-26.45%
Sharpe Ratio0.410.680.961.241.571.95
Sortino Ratio0.410.741.101.742.833.91
Standard Deviation8.13%15.12%22.60%35.92%59.13%69.82%
Downside Deviation5.24%8.60%11.65%14.81%18.47%20.02%
No data filled

Company Information

Minimum Investment3,000,000 USD (notional funding: 50.00%)
AUM15,231,328 USD
Management Fee2.70%
Performance Fee20.00%
Highwater MarkYes
RT per Million250
Margin to Equity15.00%
Legal StructureManaged Account or Fund
Investment RestrictionNone

Company Information

CompanyAIS Capital Management, L.P.
PrincipalJohn Hummel, Bradley Stern
Phone+1-203-563-1180
E-mail[email protected]
License NumberNFA 251265
LocationWilton CT, United States
Performance Compiled byAIS Futures Management

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2024 0.77 0.06 12.40 13.33
2023 5.39 -10.87 7.57 0.13 -13.00 0.66 16.44 -2.45 -2.30 -2.30 3.24 -4.04 -4.83
2022 10.62 16.66 7.22 4.98 0.38 -9.61 -4.92 -7.27 -7.97 2.54 3.97 6.30 21.19
2021 8.27 7.11 -7.43 21.93 8.25 -2.50 0.43 -2.98 0.39 7.93 -19.12 16.83 37.82
2020 -8.35 -3.58 -2.14 -1.03 22.36 9.43 15.97 11.67 -8.70 -2.97 15.28 24.85 89.23
2019 2.06 -1.19 -0.49 1.22 -0.97 11.07 -4.69 -5.97 -2.63 1.55 -6.50 6.24 -1.65
2018 7.35 -6.56 2.57 2.01 -2.37 2.62 -4.65 -3.44 3.15 -2.19 -0.11 -1.61 -4.00
2017 3.95 3.34 -5.59 -3.87 -3.57 -2.36 6.64 -2.25 2.25 0.72 2.71 7.23 8.53
2016 4.73 2.96 -2.19 10.17 -1.85 2.66 -8.34 -0.73 4.44 -2.91 -4.47 0.41 3.62
2015 4.29 -5.51 -2.45 5.06 -2.78 -0.89 -11.83 2.57 -0.56 -5.41 -10.56 -3.24 -28.36
2014 -4.36 12.32 1.35 0.80 -3.47 1.85 -11.42 -7.25 -11.70 -7.75 -8.25 -4.10 -36.47
2013 5.60 -10.48 0.17 -5.31 -3.78 -9.28 3.85 11.84 -10.27 -7.19 -4.14 1.38 -26.43
2012 6.30 6.36 -2.73 1.70 -24.19 11.95 12.75 10.76 0.70 -6.19 0.44 -2.19 10.01
2011 -2.04 6.28 8.17 9.99 -9.19 -7.61 9.93 7.89 -30.20 12.13 -3.02 -2.58 -8.86
2010 -18.82 5.47 4.44 3.03 -10.15 -0.92 9.50 -7.10 23.00 11.94 2.90 19.06 40.74
2009 -7.43 -8.62 11.67 3.99 39.04 -8.55 5.08 -4.06 7.70 7.90 14.61 -2.03 64.30
2008 9.71 19.50 -7.05 2.81 8.17 17.74 -14.32 -15.94 -12.81 -33.82 -22.28 -7.62 -52.39
2007 0.62 7.70 -1.08 -1.73 0.58 1.34 3.42 -2.27 18.47 9.07 -0.93 10.87 54.03
2006 6.24 -9.28 9.33 15.05 -2.54 -6.49 3.37 -9.50 -12.14 9.24 12.65 -9.35 1.30
2005 0.32 16.29 4.64 -5.91 0.80 3.06 5.87 4.62 2.15 -11.57 -3.59 11.64 28.50
2004 4.14 10.82 11.61 -7.93 -2.31 -2.18 3.75 3.69 3.04 7.77 2.22 -10.45 23.93
2003 6.58 10.57 -14.42 -6.65 6.16 -2.05 5.23 6.40 4.58 5.33 2.08 9.34 34.76
2002 -2.96 -1.51 3.81 0.26 -5.86 3.30 5.22 5.19 3.93 -12.92 -4.92 4.58 -3.65
2001 -0.91 2.89 10.33 -4.23 -6.10 -0.15 -2.15 0.29 2.36 3.62 -2.49 0.69 3.22
2000 0.07 4.90 -3.25 -8.82 4.38 10.00 -9.01 11.73 -4.14 6.45 -1.46 -1.38 7.19
1999 -3.85 4.16 4.74 5.69 -7.01 13.83 1.28 2.14 -6.62 -1.82 8.61 7.73 30.22
1998 -3.31 -3.83 -10.72 -5.91 -0.75 -7.79 10.67 -7.27 -12.96 -0.36 12.34 9.21 -21.94
1997 1.70 0.32 -2.40 -4.59 -5.69 0.92 -0.69 -8.66 1.33 -5.08 3.61 6.72 -12.77
1996 5.88 -10.64 13.39 5.82 -1.04 8.31 -7.92 9.14 5.82 3.22 0.75 7.20 44.26
1995 4.00 3.85 6.57 4.11 1.36 0.52 0.51 5.97 4.38 -1.92 0.12 -9.18 21.05
1994 -5.06 -8.48 8.07 8.38 4.96 0.43 8.08 -9.62 -1.24 1.52 -3.30 -0.23 1.36
1993 1.67 1.49 -2.30 -0.97 7.72 6.77 2.03 7.43 2.58 1.29 3.26 3.68 40.00
1992 -3.22 0.97 2.13 -0.20
There is a substantial risk of loss in trading commodity futures, equities, options and off-exchange foreign currency products. Past performance is not indicative of future results.

Strategy Description

MAAP is a discretionary long-term investment process using global economic analysis and technical study of trends to determine the direction and size of futures positions. The MAAP investment process considers both trend-following strategies and valuation levels in making adjustments to size and direction. MAAP maintains long, short or neutral positions in Equities, Fixed Income, Currency, Metals, Agricultural, and Energy.

AIS believes that global economic growth rates, inflation trends, government policies, currency and interest rate trends, and demographic factors all interact to impact price trends in the various markets traded. Fundamental conditions, quantitative and systematic models, and technical analysis determine the timing of and size of new or adjusted positions.

Return Statistics

Last Month 12.40%
Year To Date 13.33%
3 Month ROR 13.33%
12 Months ROR 6.75%
36 Month ROR 67.82%
Total Return Cumulative 947.45%
Total Return Annualized 7.74%
Best Month 39.04%
Winning Months (%) 56.35%
Gain Deviation 5.48

Risk Statistics

Standard Deviation Annualized 28.15%
Max Drawdown (Monthly) -78.95%
Max Drawdown Length 142
Worst Month -33.82%
Losing Months (%) 43.65%
Average Losing Month -5.99%
Loss Deviation 5.21
Correlation vs S&P 500 0.27
Correlation vs DJ/CS MF 0.21

Risk/Reward Statistics

Sharpe Ratio 0.41
Sortino Ratio 0.41
Omega Ratio 1.04
Skewness 0.00
Kurtosis 2.35

Performance (VAMI)

Fund Manager

  John R. Hummel, Principal, Chief Investment Officer. Mr. Hummel has over 40 years experience in portfolio management. He has managed assets for Fortune 500 retirement plans, endowments, foundations and the Federal Reserve retirement plan, as well as high net worth individuals. Prior to founding AIS, Mr. Hummel was a partner at Cowen & Co., a partner at Matuschka & Co., and a managing director at Mitchell Hutchins Asset Management. Mr. Hummel holds a B.S. in Investment Management from Northwestern University. He serves on the Young Life Board of Trustees and the board of directors of Tyndale Seminary, and Family Institute of Connecticut. Bradley C. Stern, Principal, Chief Compliance Officer. Mr. Stern has over 20 years experience in investment management with an emphasis on statistics and capital markets theory. Prior to the founding of AIS, Mr. Stern was an associate at Cowen & Co. where he designed the proprietary modeling system that would later become the basis for AIS’ strategy. Mr. Stern holds a B.B.A. from Emory University. 

Distribution of Monthly Returns

12 Month Rolling ROR

Drawdown Report

No. Depth (%) Length (Months) Recovery (Months) Start date End date
Fund Index Fund Index Fund Index Fund Index Fund Index
1 -78.95% 142 0 07/2008 -
2 -45.60% 20 29 03/1997 03/2001
3 -25.09% 5 12 05/2006 09/2007
4 -20.11% 2 6 03/2003 10/2003
5 -17.20% 2 3 10/2002 02/2003

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 39.04%-33.82%0.96%0.76%12.40%56.35%
3 Months 61.46%-55.15%2.98%1.35%13.33%55.32%
6 Months 88.39%-70.16%6.23%3.94%9.70%58.45%
1 Year 189.40%-69.28%12.82%7.58%6.75%62.40%
2 Years 342.61%-59.79%26.85%16.68%-5.52%67.61%
3 Years 273.63%-66.79%39.33%27.92%67.82%65.01%
5 Years 445.76%-70.98%56.72%37.12%234.10%73.04%

Time Window Analysis

1 Month3 Months6 Months1 Year2 Years3 Years
Annual Compounded Avg7.74%24.51%54.63%136.91%440.03%1051.71%
% Positive56.35%55.32%58.45%62.40%67.61%65.01%
Avg. Pos. Period6.33%12.79%19.68%31.66%53.13%74.73%
Avg. Neg. Period-5.99%-9.17%-12.67%-18.43%-28.00%-26.45%
Sharpe Ratio0.410.680.961.241.571.95
Sortino Ratio0.410.741.101.742.833.91
Standard Deviation8.13%15.12%22.60%35.92%59.13%69.82%
Downside Deviation5.24%8.60%11.65%14.81%18.47%20.02%

Up Capture vs. S&P 500 TR

Down Capture vs. S&P 500 TR

Drawdown

Volatility (12 Months Rolling)

Instruments

AUM

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