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Ahead Capital Management LLC

Global Macro Tactical Opportunities QEP only

Investment Strategy

Global Macro Tactical Opportunities focused on G20 equity and bond indices, as well as currencies and commodities.

The strategy involves tactical directional trades, focused on key turning points in market narratives. All decisions are discretionary, taken by the Portfolio Manager. Investment decisions factor in economic fundamentals, price action, investor sentiment and positioning, as well as potential price catalysts.

At any moment in time, a portfolio is concentrated in 1-3 macro themes, each expressed with 1-5 various instruments. The strategy targets 20%+ gross annual returns with <10% volatility, uncorrelated to equity, bond, or commodity markets.

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.
 

Performance (VAMI)

Monthly Returns

Fund Manager

Anton Barinov (39)

Mar 2020 - Present: Global Macro Portfolio Manager
Jul 2016 - Mar 2020: Financial advisor to high-net-worth individuals
Jul 2008 - Jun 2016: Senior Analyst, Associate, Vice President, Director at Renaissance Capital, an emerging markets investment bank
Aug 2006 - Jun 2008: Analyst at Citigroup
May 2005 - Jul 2006: Intern at Royal Dutch Shell

 

General Information

Inception DateMar 2020
Minimum Investment1,000,000 USD
Management Fee0.00%
Performance Fee20.00%
Highwater MarkYes
Phone+1 (561) 377 9319
E-mail[email protected]
Websiteaheadcapital.us

Statistics

Total Return Cumulative 73.78%
Sharpe Ratio 1.04
Sortino Ratio 2.61
Winning Months (%) 63.27%
Correlation vs. S&P 500 TR 0.06

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2024 3.36 -1.75 1.58 3.16
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
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
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
2020 5.86 -2.88 1.53 -0.77 -0.55 -5.81 1.17 -3.02 16.34 0.15 10.92
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.
As of Mar 31, 2024, Anton Barinov maintained discretionary authority over 15 client accounts all of which were qualified as accounts of family and friends. 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.

The net portfolio returns and AuM represent those of one client that executed power of attorney with Anton Barinov, with NAV of $10.2m as of Mar 31, 2024.

Net portfolio returns were calculated by Compliance Supervisors International Inc. (CSI) net of pro-forma performance fee of 20% based on monthly statements, independently obtained by CSI from a broker.

It is expected that this account will get transferred and become part of Ahead Capital Management LLC trading program.

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

As of Mar 31, 2024, Anton Barinov maintained discretionary authority over 15 client accounts all of which were qualified as accounts of family and friends. 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.

The net portfolio returns and AuM represent those of one client that executed power of attorney with Anton Barinov, with NAV of $10.2m as of Mar 31, 2024.

Net portfolio returns were calculated by Compliance Supervisors International Inc. (CSI) net of pro-forma performance fee of 20% based on monthly statements, independently obtained by CSI from a broker.

It is expected that this account will get transferred and become part of Ahead Capital Management LLC trading program.

Return Statistics

Last Month 1.58%
Year To Date 3.16%
3 Month ROR 3.16%
12 Months ROR 14.51%
36 Month ROR 57.25%
Total Return Cumulative 73.78%
Total Return Annualized 14.49%
Best Month 16.94%
Winning Months (%) 63.27%
Gain Deviation 3.97

Risk Statistics

Standard Deviation Annualized 13.89%
Max Drawdown (Monthly) -10.07%
Max Drawdown Length 8
Worst Month -5.81%
Losing Months (%) 36.73%
Average Losing Month -1.85%
Loss Deviation 1.65
Correlation vs S&P 500 0.06
Correlation vs DJ/CS MF 0.00

Risk/Reward Statistics

Sharpe Ratio 1.04
Sortino Ratio 2.61
Omega Ratio 1.36
Skewness 2.24
Kurtosis 7.87

Drawdown Report

No. Depth (%) Length (Months) Recovery (Months) Start date End date
Fund Index Fund Index Fund Index Fund Index Fund Index
1 -10.07% 7 1 04/2020 11/2020
2 -6.65% 3 1 07/2021 10/2021
3 -3.12% 1 2 10/2022 12/2022
4 -2.57% 1 1 04/2023 05/2023
5 -2.41% 2 2 03/2022 06/2022

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 16.94%-5.81%1.21%0.85%1.58%63.27%
3 Months 25.75%-7.59%3.58%2.23%3.16%74.47%
6 Months 34.59%-7.41%7.45%5.81%5.46%88.64%
1 Year 41.00%4.40%16.05%12.82%14.51%100.00%
2 Years 56.56%20.05%37.96%36.93%22.68%100.00%
3 Years 76.64%43.36%55.46%53.98%57.25%100.00%
5 Years ------

Time Window Analysis

1 Month3 Months6 Months1 Year2 Years3 Years
Annual Compounded Avg14.49%48.91%128.19%475.00%4535.88%19400.31%
% Positive63.27%74.47%88.64%100.00%100.00%100.00%
Avg. Pos. Period2.99%5.94%9.08%16.05%37.96%55.46%
Avg. Neg. Period-1.85%-3.29%-5.30% - - -
Sharpe Ratio1.041.863.005.9914.6620.49
Sortino Ratio2.615.5313.090.000.000.00
Standard Deviation4.01%6.68%8.61%9.28%8.97%9.38%
Downside Deviation1.50%2.11%1.88%0.00%0.00%0.00%
As of Mar 31, 2024, Anton Barinov maintained discretionary authority over 15 client accounts all of which were qualified as accounts of family and friends. 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.

The net portfolio returns and AuM represent those of one client that executed power of attorney with Anton Barinov, with NAV of $10.2m as of Mar 31, 2024.

Net portfolio returns were calculated by Compliance Supervisors International Inc. (CSI) net of pro-forma performance fee of 20% based on monthly statements, independently obtained by CSI from a broker.

It is expected that this account will get transferred and become part of Ahead Capital Management LLC trading program.

Company Information

Minimum Investment1,000,000 USD (notional funding: 50.00%)
AUM10,223,591 USD
Management Fee0.00%
Performance Fee20.00%
Highwater MarkYes
RT per Million650
Margin to Equity30.00%
Legal StructureManaged Account
Investment RestrictionOnly for Qualified Eligible Persons

Company Information

CompanyAhead Capital Management LLC
Principal -
Phone+1 (561) 377 9319
E-mail[email protected]
License NumberNFA 0556742
LocationBrookline, United States
Performance Compiled by -

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2024 3.36 -1.75 1.58 3.16
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
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
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
2020 5.86 -2.88 1.53 -0.77 -0.55 -5.81 1.17 -3.02 16.34 0.15 10.92
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

Global Macro Tactical Opportunities focused on G20 equity and bond indices, as well as currencies and commodities.

The strategy involves tactical directional trades, focused on key turning points in market narratives. All decisions are discretionary, taken by the Portfolio Manager. Investment decisions factor in economic fundamentals, price action, investor sentiment and positioning, as well as potential price catalysts.

At any moment in time, a portfolio is concentrated in 1-3 macro themes, each expressed with 1-5 various instruments. The strategy targets 20%+ gross annual returns with <10% volatility, uncorrelated to equity, bond, or commodity markets.

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.
 

Return Statistics

Last Month 1.58%
Year To Date 3.16%
3 Month ROR 3.16%
12 Months ROR 14.51%
36 Month ROR 57.25%
Total Return Cumulative 73.78%
Total Return Annualized 14.49%
Best Month 16.94%
Winning Months (%) 63.27%
Gain Deviation 3.97

Risk Statistics

Standard Deviation Annualized 13.89%
Max Drawdown (Monthly) -10.07%
Max Drawdown Length 8
Worst Month -5.81%
Losing Months (%) 36.73%
Average Losing Month -1.85%
Loss Deviation 1.65
Correlation vs S&P 500 0.06
Correlation vs DJ/CS MF 0.00

Risk/Reward Statistics

Sharpe Ratio 1.04
Sortino Ratio 2.61
Omega Ratio 1.36
Skewness 2.24
Kurtosis 7.87

Performance (VAMI)

Fund Manager

Anton Barinov (39)

Mar 2020 - Present: Global Macro Portfolio Manager
Jul 2016 - Mar 2020: Financial advisor to high-net-worth individuals
Jul 2008 - Jun 2016: Senior Analyst, Associate, Vice President, Director at Renaissance Capital, an emerging markets investment bank
Aug 2006 - Jun 2008: Analyst at Citigroup
May 2005 - Jul 2006: Intern at Royal Dutch Shell

 

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 -10.07% 7 1 04/2020 11/2020
2 -6.65% 3 1 07/2021 10/2021
3 -3.12% 1 2 10/2022 12/2022
4 -2.57% 1 1 04/2023 05/2023
5 -2.41% 2 2 03/2022 06/2022

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 16.94%-5.81%1.21%0.85%1.58%63.27%
3 Months 25.75%-7.59%3.58%2.23%3.16%74.47%
6 Months 34.59%-7.41%7.45%5.81%5.46%88.64%
1 Year 41.00%4.40%16.05%12.82%14.51%100.00%
2 Years 56.56%20.05%37.96%36.93%22.68%100.00%
3 Years 76.64%43.36%55.46%53.98%57.25%100.00%
5 Years ------

Time Window Analysis

1 Month3 Months6 Months1 Year2 Years3 Years
Annual Compounded Avg14.49%48.91%128.19%475.00%4535.88%19400.31%
% Positive63.27%74.47%88.64%100.00%100.00%100.00%
Avg. Pos. Period2.99%5.94%9.08%16.05%37.96%55.46%
Avg. Neg. Period-1.85%-3.29%-5.30% - - -
Sharpe Ratio1.041.863.005.9914.6620.49
Sortino Ratio2.615.5313.090.000.000.00
Standard Deviation4.01%6.68%8.61%9.28%8.97%9.38%
Downside Deviation1.50%2.11%1.88%0.00%0.00%0.00%

Up Capture vs. S&P 500 TR

Down Capture vs. S&P 500 TR

Drawdown

Volatility (12 Months Rolling)

Instruments

AUM

For the latest performance, please scan the image above with a QR Reader.
As of Mar 31, 2024, Anton Barinov maintained discretionary authority over 15 client accounts all of which were qualified as accounts of family and friends. 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.

The net portfolio returns and AuM represent those of one client that executed power of attorney with Anton Barinov, with NAV of $10.2m as of Mar 31, 2024.

Net portfolio returns were calculated by Compliance Supervisors International Inc. (CSI) net of pro-forma performance fee of 20% based on monthly statements, independently obtained by CSI from a broker.

It is expected that this account will get transferred and become part of Ahead Capital Management LLC trading program.
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Data and information is provided for informational purposes only. Past performance is not necessarily indicative of future results.