Molinero Capital Management LLP

Global Markets Program *QEP*


Monthly Performance (%)

Date Range: 06/05 - 04/19
  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec  YTD 
2019 -6.92 0.08 5.95 1.51   0.19 
2018 8.30 -8.95 -1.31 -1.19 -0.75 0.46 0.26 1.75 -0.59 -4.70 -2.95 1.54  -8.69 
2017 1.76 0.40 -1.67 -2.61 -0.92 -1.95 2.35 -2.81 0.39 4.69 2.19 1.21  2.77 
2016 6.50 2.97 -6.18 -4.60 -2.86 1.77 -1.25 -3.51 -2.97 -6.46 -2.23 0.00  -17.96 
2015 11.39 1.12 2.45 -6.08 1.79 -6.60 6.23 -0.47 2.18 -5.43 5.12 -3.01  7.33 
2014 -4.26 0.52 -0.21 -1.38 0.00 0.04 0.06 1.05 5.56 1.14 8.71 4.94  16.68 
2013 2.05 1.46 -1.37 5.27 -3.49 -0.43 -2.18 -2.08 -1.59 2.97 1.74 1.21  3.25 
2012 -1.59 -6.31 -1.91 -1.46 8.58 -6.60 2.18 -2.98 4.09 -3.27 2.05 4.10  -4.16 
2011 -0.66 3.41 -0.85 4.73 -3.66 -3.11 2.70 -1.12 -2.42 -4.67 -2.54 0.34  -8.02 
2010 -2.92 -1.59 4.85 1.35 -2.70 -3.09 1.64 1.96 3.80 2.95 -1.51 4.50  9.11 
2009 1.00 4.09 -1.66 -6.24 -3.31 -0.56 -1.12 1.07 0.66 -0.89 2.32 -2.24  -7.05 
2008 0.04 6.12 -1.16 -4.72 -0.11 3.78 0.08 -2.06 0.33 4.74 4.18 -0.26  10.93 
2007 4.97 -2.27 -0.61 4.86 5.32 1.78 -3.04 -3.11 5.12 4.97 -1.92 -0.23  16.26 
2006 3.71 -0.45 3.42 4.71 -3.50 0.14 -3.03 2.41 -0.17 3.98 0.99 6.14  19.38 
2005 2.37 -0.71 5.15 -3.86 2.80 1.04  6.73 
Note: Estimates appear in italics. All performance data is since program inception.

Strategy Description

The trading strategy employs quantitative algorithms derived from physics, digital signal processing and cyclical analysis. The algorithms decompose market price series into a complex sum of individual components. After extracting noise, they statistically evaluate the highest probability move. Trade duration is adaptive and reflects the market’s estimated frequency. A variety of risk management techniques are imbedded in the models including active stop losses which attempt to mitigate downside risk. The strategy’s diversified portfolio comprises futures and forwards in currencies, interest rates, equities and commodities.

Performance Statistics

Date Range: 06/05 - 04/19
  Program S&P 500 Altegris 40 
Total Return 46.53% 230.77% 50.73% 
Annualized Return 2.80% 8.98% 2.99% 
Annualized Std. Deviation 12.18% 13.93% 8.82% 
Correlation -0.05 0.77 
Sharpe Ratio (rf=2.5%) 0.02 0.47 0.06 
Worst Month -8.95% -16.79% -6.10% 
Date of Worst Month 02/2018 10/2008 02/2018 
Worst Drawdown -34.65% -50.95% -15.74% 
Date of Worst Drawdown 2/16 - 1/19 10/07 - 2/09 4/11 - 9/13 
Note: Estimates appear in italics. All performance data is since program inception.

Annual Performance (%)

Date Range: 06/05 - 04/19

Year or YTD Program S&P 500 Altegris 40 
2019 0.19 18.24 5.17 
2018 -8.69 -4.38 -4.29 
2017 2.77 21.84 1.24 
2016 -17.96 11.98 -3.13 
2015 7.33 1.41 0.09 
2014 16.68 13.69 15.75 
2013 3.25 32.41 -2.45 
2012 -4.16 15.98 -4.75 
2011 -8.02 2.12 -3.23 
2010 9.11 15.06 11.33 
2009 -7.05 26.45 -7.98 
2008 10.93 -36.99 15.47 
2007 16.26 5.50 7.18 
2006 19.38 15.79 6.70 
2005 6.73 5.76 4.77 
Note: Estimates appear in italics. All performance data is since program inception.

Performance Comparison

Date Range: 06/05 - 04/19
Date: 4/30/2019
Perf: $1,457.64 Date: 3/31/2019
Perf: $1,418.63 Date: 2/28/2019
Perf: $1,369.47 Date: 1/31/2019
Perf: $1,360.76 Date: 12/31/2018
Perf: $1,385.98 Date: 11/30/2018
Perf: $1,380.18 Date: 10/31/2018
Perf: $1,396.95 Date: 9/30/2018
Perf: $1,432.33 Date: 8/31/2018
Perf: $1,438.80 Date: 7/31/2018
Perf: $1,403.02 Date: 6/30/2018
Perf: $1,413.63 Date: 5/31/2018
Perf: $1,401.85 Date: 4/30/2018
Perf: $1,420.17 Date: 3/31/2018
Perf: $1,405.00 Date: 2/28/2018
Perf: $1,406.26 Date: 1/31/2018
Perf: $1,497.62 Date: 12/31/2017
Perf: $1,448.09 Date: 11/30/2017
Perf: $1,432.48 Date: 10/31/2017
Perf: $1,430.62 Date: 9/30/2017
Perf: $1,373.09 Date: 8/31/2017
Perf: $1,402.68 Date: 7/31/2017
Perf: $1,379.78 Date: 6/30/2017
Perf: $1,374.42 Date: 5/31/2017
Perf: $1,415.76 Date: 4/30/2017
Perf: $1,413.07 Date: 3/31/2017
Perf: $1,421.60 Date: 2/28/2017
Perf: $1,442.67 Date: 1/31/2017
Perf: $1,411.89 Date: 12/31/2016
Perf: $1,430.34 Date: 11/30/2016
Perf: $1,419.55 Date: 10/31/2016
Perf: $1,435.34 Date: 9/30/2016
Perf: $1,473.35 Date: 8/31/2016
Perf: $1,492.61 Date: 7/31/2016
Perf: $1,533.87 Date: 6/30/2016
Perf: $1,518.38 Date: 5/31/2016
Perf: $1,456.48 Date: 4/30/2016
Perf: $1,482.42 Date: 3/31/2016
Perf: $1,520.59 Date: 2/29/2016
Perf: $1,565.52 Date: 1/31/2016
Perf: $1,527.93 Date: 12/31/2015
Perf: $1,476.55 Date: 11/30/2015
Perf: $1,511.31 Date: 10/31/2015
Perf: $1,461.47 Date: 9/30/2015
Perf: $1,487.35 Date: 8/31/2015
Perf: $1,455.76 Date: 7/31/2015
Perf: $1,481.39 Date: 6/30/2015
Perf: $1,425.65 Date: 5/31/2015
Perf: $1,503.85 Date: 4/30/2015
Perf: $1,514.75 Date: 3/31/2015
Perf: $1,575.57 Date: 2/28/2015
Perf: $1,541.50 Date: 1/31/2015
Perf: $1,543.97 Date: 12/31/2014
Perf: $1,475.23 Date: 11/30/2014
Perf: $1,449.71 Date: 10/31/2014
Perf: $1,368.30 Date: 9/30/2014
Perf: $1,348.48 Date: 8/31/2014
Perf: $1,328.68 Date: 7/31/2014
Perf: $1,274.76 Date: 6/30/2014
Perf: $1,285.04 Date: 5/31/2014
Perf: $1,274.08 Date: 4/30/2014
Perf: $1,242.28 Date: 3/31/2014
Perf: $1,232.91 Date: 2/28/2014
Perf: $1,251.43 Date: 1/31/2014
Perf: $1,241.25 Date: 12/31/2013
Perf: $1,274.51 Date: 11/30/2013
Perf: $1,276.30 Date: 10/31/2013
Perf: $1,253.61 Date: 9/30/2013
Perf: $1,225.55 Date: 8/31/2013
Perf: $1,232.94 Date: 7/31/2013
Perf: $1,257.08 Date: 6/30/2013
Perf: $1,268.11 Date: 5/31/2013
Perf: $1,318.07 Date: 4/30/2013
Perf: $1,377.29 Date: 3/31/2013
Perf: $1,342.65 Date: 2/28/2013
Perf: $1,323.59 Date: 1/31/2013
Perf: $1,331.31 Date: 12/31/2012
Perf: $1,306.49 Date: 11/30/2012
Perf: $1,300.12 Date: 10/31/2012
Perf: $1,296.49 Date: 9/30/2012
Perf: $1,345.18 Date: 8/31/2012
Perf: $1,367.75 Date: 7/31/2012
Perf: $1,386.61 Date: 6/30/2012
Perf: $1,332.13 Date: 5/31/2012
Perf: $1,384.17 Date: 4/30/2012
Perf: $1,358.36 Date: 3/31/2012
Perf: $1,350.26 Date: 2/29/2012
Perf: $1,381.62 Date: 1/31/2012
Perf: $1,375.98 Date: 12/31/2011
Perf: $1,371.59 Date: 11/30/2011
Perf: $1,358.55 Date: 10/31/2011
Perf: $1,354.49 Date: 9/30/2011
Perf: $1,410.34 Date: 8/31/2011
Perf: $1,411.18 Date: 7/31/2011
Perf: $1,414.01 Date: 6/30/2011
Perf: $1,365.01 Date: 5/31/2011
Perf: $1,401.44 Date: 4/30/2011
Perf: $1,454.54 Date: 3/31/2011
Perf: $1,399.94 Date: 2/28/2011
Perf: $1,421.69 Date: 1/31/2011
Perf: $1,397.92 Date: 12/31/2010
Perf: $1,417.34 Date: 11/30/2010
Perf: $1,359.04 Date: 10/31/2010
Perf: $1,408.92 Date: 9/30/2010
Perf: $1,356.29 Date: 8/31/2010
Perf: $1,332.05 Date: 7/31/2010
Perf: $1,279.09 Date: 6/30/2010
Perf: $1,295.81 Date: 5/31/2010
Perf: $1,290.90 Date: 4/30/2010
Perf: $1,322.92 Date: 3/31/2010
Perf: $1,302.85 Date: 2/28/2010
Perf: $1,253.11 Date: 1/31/2010
Perf: $1,241.44 Date: 12/31/2009
Perf: $1,273.14 Date: 11/30/2009
Perf: $1,326.19 Date: 10/31/2009
Perf: $1,274.81 Date: 9/30/2009
Perf: $1,308.30 Date: 8/31/2009
Perf: $1,277.89 Date: 7/31/2009
Perf: $1,273.69 Date: 6/30/2009
Perf: $1,275.09 Date: 5/31/2009
Perf: $1,309.93 Date: 4/30/2009
Perf: $1,292.10 Date: 3/31/2009
Perf: $1,335.78 Date: 2/28/2009
Perf: $1,373.84 Date: 1/31/2009
Perf: $1,374.52 Date: 12/31/2008
Perf: $1,383.52 Date: 11/30/2008
Perf: $1,348.85 Date: 10/31/2008
Perf: $1,301.10 Date: 9/30/2008
Perf: $1,237.38 Date: 8/31/2008
Perf: $1,234.78 Date: 7/31/2008
Perf: $1,268.66 Date: 6/30/2008
Perf: $1,329.69 Date: 5/31/2008
Perf: $1,295.11 Date: 4/30/2008
Perf: $1,268.97 Date: 3/31/2008
Perf: $1,283.73 Date: 2/29/2008
Perf: $1,289.41 Date: 1/31/2008
Perf: $1,219.99 Date: 12/31/2007
Perf: $1,198.18 Date: 11/30/2007
Perf: $1,200.94 Date: 10/31/2007
Perf: $1,208.80 Date: 9/30/2007
Perf: $1,158.85 Date: 8/31/2007
Perf: $1,107.15 Date: 7/31/2007
Perf: $1,150.05 Date: 6/30/2007
Perf: $1,186.72 Date: 5/31/2007
Perf: $1,153.38 Date: 4/30/2007
Perf: $1,113.63 Date: 3/31/2007
Perf: $1,068.74 Date: 2/28/2007
Perf: $1,094.35 Date: 1/31/2007
Perf: $1,136.98 Date: 12/31/2006
Perf: $1,117.87 Date: 11/30/2006
Perf: $1,081.32 Date: 10/31/2006
Perf: $1,055.46 Date: 9/30/2006
Perf: $1,043.98 Date: 8/31/2006
Perf: $1,055.16 Date: 7/31/2006
Perf: $1,043.48 Date: 6/30/2006
Perf: $1,059.15 Date: 5/31/2006
Perf: $1,073.86 Date: 4/30/2006
Perf: $1,103.10 Date: 3/31/2006
Perf: $1,076.82 Date: 2/28/2006
Perf: $1,048.72 Date: 1/31/2006
Perf: $1,067.72 Date: 12/31/2005
Perf: $1,047.71 Date: 11/30/2005
Perf: $1,067.02 Date: 10/31/2005
Perf: $1,023.13 Date: 9/30/2005
Perf: $1,021.50 Date: 8/31/2005
Perf: $1,006.00 Date: 7/31/2005
Perf: $1,000.60 Date: 6/30/2005
Perf: $1,000.00 Date: 4/30/2019
Perf: $3,303.08 Date: 3/31/2019
Perf: $3,174.51 Date: 2/28/2019
Perf: $3,114.10 Date: 1/31/2019
Perf: $3,017.24 Date: 12/31/2018
Perf: $2,793.48 Date: 11/30/2018
Perf: $3,070.78 Date: 10/31/2018
Perf: $3,009.38 Date: 9/30/2018
Perf: $3,230.34 Date: 8/31/2018
Perf: $3,212.03 Date: 7/31/2018
Perf: $3,110.62 Date: 6/30/2018
Perf: $2,999.06 Date: 5/31/2018
Perf: $2,980.58 Date: 4/30/2018
Perf: $2,910.44 Date: 3/31/2018
Perf: $2,899.42 Date: 2/28/2018
Perf: $2,974.98 Date: 1/31/2018
Perf: $3,088.97 Date: 12/31/2017
Perf: $2,921.56 Date: 11/30/2017
Perf: $2,889.49 Date: 10/31/2017
Perf: $2,803.42 Date: 9/30/2017
Perf: $2,739.59 Date: 8/31/2017
Perf: $2,684.29 Date: 7/31/2017
Perf: $2,676.00 Date: 6/30/2017
Perf: $2,621.99 Date: 5/31/2017
Perf: $2,605.83 Date: 4/30/2017
Perf: $2,569.60 Date: 3/31/2017
Perf: $2,543.40 Date: 2/28/2017
Perf: $2,540.35 Date: 1/31/2017
Perf: $2,443.35 Date: 12/31/2016
Perf: $2,397.79 Date: 11/30/2016
Perf: $2,351.24 Date: 10/31/2016
Perf: $2,267.35 Date: 9/30/2016
Perf: $2,309.38 Date: 8/31/2016
Perf: $2,308.92 Date: 7/31/2016
Perf: $2,305.69 Date: 6/30/2016
Perf: $2,223.64 Date: 5/31/2016
Perf: $2,217.87 Date: 4/30/2016
Perf: $2,178.65 Date: 3/31/2016
Perf: $2,170.19 Date: 2/29/2016
Perf: $2,032.39 Date: 1/31/2016
Perf: $2,035.04 Date: 12/31/2015
Perf: $2,141.25 Date: 11/30/2015
Perf: $2,175.62 Date: 10/31/2015
Perf: $2,169.11 Date: 9/30/2015
Perf: $2,000.29 Date: 8/31/2015
Perf: $2,050.95 Date: 7/31/2015
Perf: $2,182.56 Date: 6/30/2015
Perf: $2,137.66 Date: 5/31/2015
Perf: $2,179.96 Date: 4/30/2015
Perf: $2,152.19 Date: 3/31/2015
Perf: $2,131.73 Date: 2/28/2015
Perf: $2,165.95 Date: 1/31/2015
Perf: $2,048.18 Date: 12/31/2014
Perf: $2,111.52 Date: 11/30/2014
Perf: $2,116.82 Date: 10/31/2014
Perf: $2,061.37 Date: 9/30/2014
Perf: $2,012.27 Date: 8/31/2014
Perf: $2,040.84 Date: 7/31/2014
Perf: $1,962.34 Date: 6/30/2014
Perf: $1,989.80 Date: 5/31/2014
Perf: $1,949.45 Date: 4/30/2014
Perf: $1,904.69 Date: 3/31/2014
Perf: $1,890.70 Date: 2/28/2014
Perf: $1,874.95 Date: 1/31/2014
Perf: $1,793.01 Date: 12/31/2013
Perf: $1,857.27 Date: 11/30/2013
Perf: $1,811.44 Date: 10/31/2013
Perf: $1,757.83 Date: 9/30/2013
Perf: $1,680.52 Date: 8/31/2013
Perf: $1,629.36 Date: 7/31/2013
Perf: $1,678.02 Date: 6/30/2013
Perf: $1,596.75 Date: 5/31/2013
Perf: $1,618.44 Date: 4/30/2013
Perf: $1,581.43 Date: 3/31/2013
Perf: $1,551.49 Date: 2/28/2013
Perf: $1,495.41 Date: 1/31/2013
Perf: $1,475.34 Date: 12/31/2012
Perf: $1,402.69 Date: 11/30/2012
Perf: $1,390.04 Date: 10/31/2012
Perf: $1,382.02 Date: 9/30/2012
Perf: $1,408.07 Date: 8/31/2012
Perf: $1,372.66 Date: 7/31/2012
Perf: $1,342.45 Date: 6/30/2012
Perf: $1,324.05 Date: 5/31/2012
Perf: $1,271.65 Date: 4/30/2012
Perf: $1,352.97 Date: 3/31/2012
Perf: $1,361.54 Date: 2/29/2012
Perf: $1,318.18 Date: 1/31/2012
Perf: $1,263.59 Date: 12/31/2011
Perf: $1,209.41 Date: 11/30/2011
Perf: $1,197.20 Date: 10/31/2011
Perf: $1,199.84 Date: 9/30/2011
Perf: $1,081.62 Date: 8/31/2011
Perf: $1,163.40 Date: 7/31/2011
Perf: $1,230.20 Date: 6/30/2011
Perf: $1,255.69 Date: 5/31/2011
Perf: $1,277.02 Date: 4/30/2011
Perf: $1,291.62 Date: 3/31/2011
Perf: $1,254.48 Date: 2/28/2011
Perf: $1,253.98 Date: 1/31/2011
Perf: $1,212.40 Date: 12/31/2010
Perf: $1,184.33 Date: 11/30/2010
Perf: $1,110.17 Date: 10/31/2010
Perf: $1,110.06 Date: 9/30/2010
Perf: $1,069.32 Date: 8/31/2010
Perf: $981.74 Date: 7/31/2010
Perf: $1,028.11 Date: 6/30/2010
Perf: $960.76 Date: 5/31/2010
Perf: $1,013.78 Date: 4/30/2010
Perf: $1,101.82 Date: 3/31/2010
Perf: $1,084.68 Date: 2/28/2010
Perf: $1,022.99 Date: 1/31/2010
Perf: $992.24 Date: 12/31/2009
Perf: $1,029.29 Date: 11/30/2009
Perf: $1,009.80 Date: 10/31/2009
Perf: $952.64 Date: 9/30/2009
Perf: $970.70 Date: 8/31/2009
Perf: $935.79 Date: 7/31/2009
Perf: $903.19 Date: 6/30/2009
Perf: $839.71 Date: 5/31/2009
Perf: $838.03 Date: 4/30/2009
Perf: $793.66 Date: 3/31/2009
Perf: $724.34 Date: 2/28/2009
Perf: $666.00 Date: 1/31/2009
Perf: $745.39 Date: 12/31/2008
Perf: $814.01 Date: 11/30/2008
Perf: $805.47 Date: 10/31/2008
Perf: $867.77 Date: 9/30/2008
Perf: $1,042.87 Date: 8/31/2008
Perf: $1,144.88 Date: 7/31/2008
Perf: $1,128.52 Date: 6/30/2008
Perf: $1,138.08 Date: 5/31/2008
Perf: $1,242.85 Date: 4/30/2008
Perf: $1,226.90 Date: 3/31/2008
Perf: $1,169.93 Date: 2/29/2008
Perf: $1,174.98 Date: 1/31/2008
Perf: $1,214.45 Date: 12/31/2007
Perf: $1,291.97 Date: 11/30/2007
Perf: $1,300.94 Date: 10/31/2007
Perf: $1,357.69 Date: 9/30/2007
Perf: $1,336.44 Date: 8/31/2007
Perf: $1,288.26 Date: 7/31/2007
Perf: $1,269.22 Date: 6/30/2007
Perf: $1,309.83 Date: 5/31/2007
Perf: $1,331.94 Date: 4/30/2007
Perf: $1,287.02 Date: 3/31/2007
Perf: $1,232.43 Date: 2/28/2007
Perf: $1,218.78 Date: 1/31/2007
Perf: $1,243.14 Date: 12/31/2006
Perf: $1,224.65 Date: 11/30/2006
Perf: $1,207.74 Date: 10/31/2006
Perf: $1,185.22 Date: 9/30/2006
Perf: $1,147.80 Date: 8/31/2006
Perf: $1,118.93 Date: 7/31/2006
Perf: $1,092.92 Date: 6/30/2006
Perf: $1,086.19 Date: 5/31/2006
Perf: $1,084.67 Date: 4/30/2006
Perf: $1,116.83 Date: 3/31/2006
Perf: $1,102.07 Date: 2/28/2006
Perf: $1,088.57 Date: 1/31/2006
Perf: $1,085.64 Date: 12/31/2005
Perf: $1,057.61 Date: 11/30/2005
Perf: $1,057.29 Date: 10/31/2005
Perf: $1,018.78 Date: 9/30/2005
Perf: $1,036.09 Date: 8/31/2005
Perf: $1,027.76 Date: 7/31/2005
Perf: $1,037.20 Date: 6/30/2005
Perf: $1,000.00 Date: 4/30/2019
Perf: $1,465.31 Date: 3/31/2019
Perf: $1,443.51 Date: 2/28/2019
Perf: $1,362.44 Date: 1/31/2019
Perf: $1,361.36 Date: 12/31/2018
Perf: $1,462.56 Date: 11/30/2018
Perf: $1,440.38 Date: 10/31/2018
Perf: $1,484.17 Date: 9/30/2018
Perf: $1,557.36 Date: 8/31/2018
Perf: $1,566.60 Date: 7/31/2018
Perf: $1,539.66 Date: 6/30/2018
Perf: $1,535.67 Date: 5/31/2018
Perf: $1,528.64 Date: 4/30/2018
Perf: $1,540.19 Date: 3/31/2018
Perf: $1,558.74 Date: 2/28/2018
Perf: $1,579.43 Date: 1/31/2018
Perf: $1,734.68 Date: 12/31/2017
Perf: $1,601.74 Date: 11/30/2017
Perf: $1,582.59 Date: 10/31/2017
Perf: $1,548.67 Date: 9/30/2017
Perf: $1,479.29 Date: 8/31/2017
Perf: $1,473.55 Date: 7/31/2017
Perf: $1,516.15 Date: 6/30/2017
Perf: $1,481.34 Date: 5/31/2017
Perf: $1,510.80 Date: 4/30/2017
Perf: $1,524.83 Date: 3/31/2017
Perf: $1,565.69 Date: 2/28/2017
Perf: $1,592.28 Date: 1/31/2017
Perf: $1,585.94 Date: 12/31/2016
Perf: $1,558.51 Date: 11/30/2016
Perf: $1,558.51 Date: 10/31/2016
Perf: $1,594.06 Date: 9/30/2016
Perf: $1,704.14 Date: 8/31/2016
Perf: $1,756.31 Date: 7/31/2016
Perf: $1,820.20 Date: 6/30/2016
Perf: $1,843.24 Date: 5/31/2016
Perf: $1,811.18 Date: 4/30/2016
Perf: $1,864.50 Date: 3/31/2016
Perf: $1,954.41 Date: 2/29/2016
Perf: $2,083.14 Date: 1/31/2016
Perf: $2,023.06 Date: 12/31/2015
Perf: $1,899.59 Date: 11/30/2015
Perf: $1,958.54 Date: 10/31/2015
Perf: $1,863.15 Date: 9/30/2015
Perf: $1,970.12 Date: 8/31/2015
Perf: $1,928.09 Date: 7/31/2015
Perf: $1,937.20 Date: 6/30/2015
Perf: $1,823.59 Date: 5/31/2015
Perf: $1,952.45 Date: 4/30/2015
Perf: $1,918.11 Date: 3/31/2015
Perf: $2,042.28 Date: 2/28/2015
Perf: $1,993.45 Date: 1/31/2015
Perf: $1,971.37 Date: 12/31/2014
Perf: $1,769.79 Date: 11/30/2014
Perf: $1,686.48 Date: 10/31/2014
Perf: $1,551.35 Date: 9/30/2014
Perf: $1,533.87 Date: 8/31/2014
Perf: $1,453.08 Date: 7/31/2014
Perf: $1,437.98 Date: 6/30/2014
Perf: $1,437.11 Date: 5/31/2014
Perf: $1,436.54 Date: 4/30/2014
Perf: $1,436.54 Date: 3/31/2014
Perf: $1,456.64 Date: 2/28/2014
Perf: $1,459.71 Date: 1/31/2014
Perf: $1,452.16 Date: 12/31/2013
Perf: $1,516.77 Date: 11/30/2013
Perf: $1,498.64 Date: 10/31/2013
Perf: $1,473.01 Date: 9/30/2013
Perf: $1,430.52 Date: 8/31/2013
Perf: $1,453.63 Date: 7/31/2013
Perf: $1,484.51 Date: 6/30/2013
Perf: $1,517.59 Date: 5/31/2013
Perf: $1,524.15 Date: 4/30/2013
Perf: $1,579.26 Date: 3/31/2013
Perf: $1,500.20 Date: 2/28/2013
Perf: $1,521.04 Date: 1/31/2013
Perf: $1,499.15 Date: 12/31/2012
Perf: $1,469.04 Date: 11/30/2012
Perf: $1,411.18 Date: 10/31/2012
Perf: $1,382.83 Date: 9/30/2012
Perf: $1,429.58 Date: 8/31/2012
Perf: $1,373.41 Date: 7/31/2012
Perf: $1,415.59 Date: 6/30/2012
Perf: $1,385.39 Date: 5/31/2012
Perf: $1,483.29 Date: 4/30/2012
Perf: $1,366.08 Date: 3/31/2012
Perf: $1,386.32 Date: 2/29/2012
Perf: $1,413.31 Date: 1/31/2012
Perf: $1,508.50 Date: 12/31/2011
Perf: $1,532.87 Date: 11/30/2011
Perf: $1,527.68 Date: 10/31/2011
Perf: $1,567.49 Date: 9/30/2011
Perf: $1,644.28 Date: 8/31/2011
Perf: $1,685.06 Date: 7/31/2011
Perf: $1,704.14 Date: 6/30/2011
Perf: $1,659.34 Date: 5/31/2011
Perf: $1,712.60 Date: 4/30/2011
Perf: $1,777.67 Date: 3/31/2011
Perf: $1,697.38 Date: 2/28/2011
Perf: $1,711.93 Date: 1/31/2011
Perf: $1,655.48 Date: 12/31/2010
Perf: $1,666.48 Date: 11/30/2010
Perf: $1,594.72 Date: 10/31/2010
Perf: $1,619.17 Date: 9/30/2010
Perf: $1,572.77 Date: 8/31/2010
Perf: $1,515.19 Date: 7/31/2010
Perf: $1,486.06 Date: 6/30/2010
Perf: $1,462.09 Date: 5/31/2010
Perf: $1,508.71 Date: 4/30/2010
Perf: $1,550.57 Date: 3/31/2010
Perf: $1,529.92 Date: 2/28/2010
Perf: $1,459.15 Date: 1/31/2010
Perf: $1,482.72 Date: 12/31/2009
Perf: $1,527.32 Date: 11/30/2009
Perf: $1,562.32 Date: 10/31/2009
Perf: $1,526.89 Date: 9/30/2009
Perf: $1,540.60 Date: 8/31/2009
Perf: $1,530.50 Date: 7/31/2009
Perf: $1,514.30 Date: 6/30/2009
Perf: $1,531.45 Date: 5/31/2009
Perf: $1,540.08 Date: 4/30/2009
Perf: $1,592.80 Date: 3/31/2009
Perf: $1,698.80 Date: 2/28/2009
Perf: $1,727.48 Date: 1/31/2009
Perf: $1,659.60 Date: 12/31/2008
Perf: $1,643.17 Date: 11/30/2008
Perf: $1,647.45 Date: 10/31/2008
Perf: $1,581.35 Date: 9/30/2008
Perf: $1,509.79 Date: 8/31/2008
Perf: $1,504.82 Date: 7/31/2008
Perf: $1,536.48 Date: 6/30/2008
Perf: $1,535.25 Date: 5/31/2008
Perf: $1,479.33 Date: 4/30/2008
Perf: $1,480.96 Date: 3/31/2008
Perf: $1,554.32 Date: 2/29/2008
Perf: $1,572.56 Date: 1/31/2008
Perf: $1,481.87 Date: 12/31/2007
Perf: $1,481.28 Date: 11/30/2007
Perf: $1,484.69 Date: 10/31/2007
Perf: $1,513.76 Date: 9/30/2007
Perf: $1,442.09 Date: 8/31/2007
Perf: $1,371.85 Date: 7/31/2007
Perf: $1,415.88 Date: 6/30/2007
Perf: $1,460.27 Date: 5/31/2007
Perf: $1,434.74 Date: 4/30/2007
Perf: $1,362.26 Date: 3/31/2007
Perf: $1,299.13 Date: 2/28/2007
Perf: $1,307.10 Date: 1/31/2007
Perf: $1,337.46 Date: 12/31/2006
Perf: $1,274.14 Date: 11/30/2006
Perf: $1,200.43 Date: 10/31/2006
Perf: $1,188.66 Date: 9/30/2006
Perf: $1,143.16 Date: 8/31/2006
Perf: $1,145.11 Date: 7/31/2006
Perf: $1,118.16 Date: 6/30/2006
Perf: $1,153.10 Date: 5/31/2006
Perf: $1,151.49 Date: 4/30/2006
Perf: $1,193.25 Date: 3/31/2006
Perf: $1,139.58 Date: 2/28/2006
Perf: $1,101.89 Date: 1/31/2006
Perf: $1,106.88 Date: 12/31/2005
Perf: $1,067.28 Date: 11/30/2005
Perf: $1,056.29 Date: 10/31/2005
Perf: $1,027.52 Date: 9/30/2005
Perf: $1,068.78 Date: 8/31/2005
Perf: $1,016.43 Date: 7/31/2005
Perf: $1,023.70 Date: 6/30/2005
Perf: $1,000.00
Note: All performance data is since program inception.

Monthly Returns

Date Range: 06/05 - 04/19
Date: 4/30/2019
Return: 1.51 % Date: 3/31/2019
Return: 5.95 % Date: 2/28/2019
Return: 0.08 % Date: 1/31/2019
Return: -6.92 % Date: 12/31/2018
Return: 1.54 % Date: 11/30/2018
Return: -2.95 % Date: 10/31/2018
Return: -4.70 % Date: 9/30/2018
Return: -0.59 % Date: 8/31/2018
Return: 1.75 % Date: 7/31/2018
Return: 0.26 % Date: 6/30/2018
Return: 0.46 % Date: 5/31/2018
Return: -0.75 % Date: 4/30/2018
Return: -1.19 % Date: 3/31/2018
Return: -1.31 % Date: 2/28/2018
Return: -8.95 % Date: 1/31/2018
Return: 8.30 % Date: 12/31/2017
Return: 1.21 % Date: 11/30/2017
Return: 2.19 % Date: 10/31/2017
Return: 4.69 % Date: 9/30/2017
Return: 0.39 % Date: 8/31/2017
Return: -2.81 % Date: 7/31/2017
Return: 2.35 % Date: 6/30/2017
Return: -1.95 % Date: 5/31/2017
Return: -0.92 % Date: 4/30/2017
Return: -2.61 % Date: 3/31/2017
Return: -1.67 % Date: 2/28/2017
Return: 0.40 % Date: 1/31/2017
Return: 1.76 % Date: 12/31/2016
Return: 0.00 % Date: 11/30/2016
Return: -2.23 % Date: 10/31/2016
Return: -6.46 % Date: 9/30/2016
Return: -2.97 % Date: 8/31/2016
Return: -3.51 % Date: 7/31/2016
Return: -1.25 % Date: 6/30/2016
Return: 1.77 % Date: 5/31/2016
Return: -2.86 % Date: 4/30/2016
Return: -4.60 % Date: 3/31/2016
Return: -6.18 % Date: 2/29/2016
Return: 2.97 % Date: 1/31/2016
Return: 6.50 % Date: 12/31/2015
Return: -3.01 % Date: 11/30/2015
Return: 5.12 % Date: 10/31/2015
Return: -5.43 % Date: 9/30/2015
Return: 2.18 % Date: 8/31/2015
Return: -0.47 % Date: 7/31/2015
Return: 6.23 % Date: 6/30/2015
Return: -6.60 % Date: 5/31/2015
Return: 1.79 % Date: 4/30/2015
Return: -6.08 % Date: 3/31/2015
Return: 2.45 % Date: 2/28/2015
Return: 1.12 % Date: 1/31/2015
Return: 11.39 % Date: 12/31/2014
Return: 4.94 % Date: 11/30/2014
Return: 8.71 % Date: 10/31/2014
Return: 1.14 % Date: 9/30/2014
Return: 5.56 % Date: 8/31/2014
Return: 1.05 % Date: 7/31/2014
Return: 0.06 % Date: 6/30/2014
Return: 0.04 % Date: 5/31/2014
Return: 0.00 % Date: 4/30/2014
Return: -1.38 % Date: 3/31/2014
Return: -0.21 % Date: 2/28/2014
Return: 0.52 % Date: 1/31/2014
Return: -4.26 % Date: 12/31/2013
Return: 1.21 % Date: 11/30/2013
Return: 1.74 % Date: 10/31/2013
Return: 2.97 % Date: 9/30/2013
Return: -1.59 % Date: 8/31/2013
Return: -2.08 % Date: 7/31/2013
Return: -2.18 % Date: 6/30/2013
Return: -0.43 % Date: 5/31/2013
Return: -3.49 % Date: 4/30/2013
Return: 5.27 % Date: 3/31/2013
Return: -1.37 % Date: 2/28/2013
Return: 1.46 % Date: 1/31/2013
Return: 2.05 % Date: 12/31/2012
Return: 4.10 % Date: 11/30/2012
Return: 2.05 % Date: 10/31/2012
Return: -3.27 % Date: 9/30/2012
Return: 4.09 % Date: 8/31/2012
Return: -2.98 % Date: 7/31/2012
Return: 2.18 % Date: 6/30/2012
Return: -6.60 % Date: 5/31/2012
Return: 8.58 % Date: 4/30/2012
Return: -1.46 % Date: 3/31/2012
Return: -1.91 % Date: 2/29/2012
Return: -6.31 % Date: 1/31/2012
Return: -1.59 % Date: 12/31/2011
Return: 0.34 % Date: 11/30/2011
Return: -2.54 % Date: 10/31/2011
Return: -4.67 % Date: 9/30/2011
Return: -2.42 % Date: 8/31/2011
Return: -1.12 % Date: 7/31/2011
Return: 2.70 % Date: 6/30/2011
Return: -3.11 % Date: 5/31/2011
Return: -3.66 % Date: 4/30/2011
Return: 4.73 % Date: 3/31/2011
Return: -0.85 % Date: 2/28/2011
Return: 3.41 % Date: 1/31/2011
Return: -0.66 % Date: 12/31/2010
Return: 4.50 % Date: 11/30/2010
Return: -1.51 % Date: 10/31/2010
Return: 2.95 % Date: 9/30/2010
Return: 3.80 % Date: 8/31/2010
Return: 1.96 % Date: 7/31/2010
Return: 1.64 % Date: 6/30/2010
Return: -3.09 % Date: 5/31/2010
Return: -2.70 % Date: 4/30/2010
Return: 1.35 % Date: 3/31/2010
Return: 4.85 % Date: 2/28/2010
Return: -1.59 % Date: 1/31/2010
Return: -2.92 % Date: 12/31/2009
Return: -2.24 % Date: 11/30/2009
Return: 2.32 % Date: 10/31/2009
Return: -0.89 % Date: 9/30/2009
Return: 0.66 % Date: 8/31/2009
Return: 1.07 % Date: 7/31/2009
Return: -1.12 % Date: 6/30/2009
Return: -0.56 % Date: 5/31/2009
Return: -3.31 % Date: 4/30/2009
Return: -6.24 % Date: 3/31/2009
Return: -1.66 % Date: 2/28/2009
Return: 4.09 % Date: 1/31/2009
Return: 1.00 % Date: 12/31/2008
Return: -0.26 % Date: 11/30/2008
Return: 4.18 % Date: 10/31/2008
Return: 4.74 % Date: 9/30/2008
Return: 0.33 % Date: 8/31/2008
Return: -2.06 % Date: 7/31/2008
Return: 0.08 % Date: 6/30/2008
Return: 3.78 % Date: 5/31/2008
Return: -0.11 % Date: 4/30/2008
Return: -4.72 % Date: 3/31/2008
Return: -1.16 % Date: 2/29/2008
Return: 6.12 % Date: 1/31/2008
Return: 0.04 % Date: 12/31/2007
Return: -0.23 % Date: 11/30/2007
Return: -1.92 % Date: 10/31/2007
Return: 4.97 % Date: 9/30/2007
Return: 5.12 % Date: 8/31/2007
Return: -3.11 % Date: 7/31/2007
Return: -3.04 % Date: 6/30/2007
Return: 1.78 % Date: 5/31/2007
Return: 5.32 % Date: 4/30/2007
Return: 4.86 % Date: 3/31/2007
Return: -0.61 % Date: 2/28/2007
Return: -2.27 % Date: 1/31/2007
Return: 4.97 % Date: 12/31/2006
Return: 6.14 % Date: 11/30/2006
Return: 0.99 % Date: 10/31/2006
Return: 3.98 % Date: 9/30/2006
Return: -0.17 % Date: 8/31/2006
Return: 2.41 % Date: 7/31/2006
Return: -3.03 % Date: 6/30/2006
Return: 0.14 % Date: 5/31/2006
Return: -3.50 % Date: 4/30/2006
Return: 4.71 % Date: 3/31/2006
Return: 3.42 % Date: 2/28/2006
Return: -0.45 % Date: 1/31/2006
Return: 3.71 % Date: 12/31/2005
Return: 1.04 % Date: 11/30/2005
Return: 2.80 % Date: 10/31/2005
Return: -3.86 % Date: 9/30/2005
Return: 5.15 % Date: 8/31/2005
Return: -0.71 % Date: 7/31/2005
Return: 2.37 % Date: 6/30/2005
Return: 0.00 %
Note: All performance data is since program inception.

Distribution of Monthly Returns

Date Range: 06/05 - 04/19
Return: -9.00 %
Count: 1 Return: 8.00 %
Count: 1 Return: 11.00 %
Count: 1 Return: -7.00 %
Count: 3 Return: 9.00 %
Count: 2 Return: -6.00 %
Count: 5 Return: -5.00 %
Count: 5 Return: -2.00 %
Count: 16 Return: 6.00 %
Count: 6 Return: -3.00 %
Count: 19 Return: 4.00 %
Count: 9 Return: 1.00 %
Count: 13 Return: 3.00 %
Count: 7 Return: -4.00 %
Count: 4 Return: 5.00 %
Count: 14 Return: -1.00 %
Count: 18 Return: 2.00 %
Count: 20 Return: 0.00 %
Count: 23
Note: All performance data is since program inception.

Underwater Curve

Date Range: 06/05 - 04/19
Date: 4/30/2019
Drawdown: -29.66 % Date: 3/31/2019
Drawdown: -30.71 % Date: 2/28/2019
Drawdown: -34.60 % Date: 1/31/2019
Drawdown: -34.65 % Date: 12/31/2018
Drawdown: -29.79 % Date: 11/30/2018
Drawdown: -30.86 % Date: 10/31/2018
Drawdown: -28.75 % Date: 9/30/2018
Drawdown: -25.24 % Date: 8/31/2018
Drawdown: -24.80 % Date: 7/31/2018
Drawdown: -26.09 % Date: 6/30/2018
Drawdown: -26.28 % Date: 5/31/2018
Drawdown: -26.62 % Date: 4/30/2018
Drawdown: -26.06 % Date: 3/31/2018
Drawdown: -25.17 % Date: 2/28/2018
Drawdown: -24.18 % Date: 1/31/2018
Drawdown: -16.73 % Date: 12/31/2017
Drawdown: -23.11 % Date: 11/30/2017
Drawdown: -24.03 % Date: 10/31/2017
Drawdown: -25.66 % Date: 9/30/2017
Drawdown: -28.99 % Date: 8/31/2017
Drawdown: -29.26 % Date: 7/31/2017
Drawdown: -27.22 % Date: 6/30/2017
Drawdown: -28.89 % Date: 5/31/2017
Drawdown: -27.48 % Date: 4/30/2017
Drawdown: -26.80 % Date: 3/31/2017
Drawdown: -24.84 % Date: 2/28/2017
Drawdown: -23.56 % Date: 1/31/2017
Drawdown: -23.87 % Date: 12/31/2016
Drawdown: -25.18 % Date: 11/30/2016
Drawdown: -25.18 % Date: 10/31/2016
Drawdown: -23.48 % Date: 9/30/2016
Drawdown: -18.19 % Date: 8/31/2016
Drawdown: -15.69 % Date: 7/31/2016
Drawdown: -12.62 % Date: 6/30/2016
Drawdown: -11.52 % Date: 5/31/2016
Drawdown: -13.06 % Date: 4/30/2016
Drawdown: -10.50 % Date: 3/31/2016
Drawdown: -6.18 % Date: 2/29/2016
Drawdown: 0.00 % Date: 1/31/2016
Drawdown: -0.94 % Date: 12/31/2015
Drawdown: -6.99 % Date: 11/30/2015
Drawdown: -4.10 % Date: 10/31/2015
Drawdown: -8.77 % Date: 9/30/2015
Drawdown: -3.53 % Date: 8/31/2015
Drawdown: -5.59 % Date: 7/31/2015
Drawdown: -5.15 % Date: 6/30/2015
Drawdown: -10.71 % Date: 5/31/2015
Drawdown: -4.40 % Date: 4/30/2015
Drawdown: -6.08 % Date: 3/31/2015
Drawdown: 0.00 % Date: 2/28/2015
Drawdown: 0.00 % Date: 1/31/2015
Drawdown: 0.00 % Date: 12/31/2014
Drawdown: -0.44 % Date: 11/30/2014
Drawdown: -5.13 % Date: 10/31/2014
Drawdown: -12.73 % Date: 9/30/2014
Drawdown: -13.71 % Date: 8/31/2014
Drawdown: -18.26 % Date: 7/31/2014
Drawdown: -19.11 % Date: 6/30/2014
Drawdown: -19.16 % Date: 5/31/2014
Drawdown: -19.19 % Date: 4/30/2014
Drawdown: -19.19 % Date: 3/31/2014
Drawdown: -18.06 % Date: 2/28/2014
Drawdown: -17.89 % Date: 1/31/2014
Drawdown: -18.31 % Date: 12/31/2013
Drawdown: -14.68 % Date: 11/30/2013
Drawdown: -15.70 % Date: 10/31/2013
Drawdown: -17.14 % Date: 9/30/2013
Drawdown: -19.53 % Date: 8/31/2013
Drawdown: -18.23 % Date: 7/31/2013
Drawdown: -16.49 % Date: 6/30/2013
Drawdown: -14.63 % Date: 5/31/2013
Drawdown: -14.26 % Date: 4/30/2013
Drawdown: -11.16 % Date: 3/31/2013
Drawdown: -15.61 % Date: 2/28/2013
Drawdown: -14.44 % Date: 1/31/2013
Drawdown: -15.67 % Date: 12/31/2012
Drawdown: -17.36 % Date: 11/30/2012
Drawdown: -20.62 % Date: 10/31/2012
Drawdown: -22.21 % Date: 9/30/2012
Drawdown: -19.58 % Date: 8/31/2012
Drawdown: -22.74 % Date: 7/31/2012
Drawdown: -20.37 % Date: 6/30/2012
Drawdown: -22.07 % Date: 5/31/2012
Drawdown: -16.56 % Date: 4/30/2012
Drawdown: -23.15 % Date: 3/31/2012
Drawdown: -22.01 % Date: 2/29/2012
Drawdown: -20.50 % Date: 1/31/2012
Drawdown: -15.14 % Date: 12/31/2011
Drawdown: -13.77 % Date: 11/30/2011
Drawdown: -14.06 % Date: 10/31/2011
Drawdown: -11.82 % Date: 9/30/2011
Drawdown: -7.50 % Date: 8/31/2011
Drawdown: -5.21 % Date: 7/31/2011
Drawdown: -4.14 % Date: 6/30/2011
Drawdown: -6.66 % Date: 5/31/2011
Drawdown: -3.66 % Date: 4/30/2011
Drawdown: 0.00 % Date: 3/31/2011
Drawdown: -1.74 % Date: 2/28/2011
Drawdown: -0.90 % Date: 1/31/2011
Drawdown: -4.17 % Date: 12/31/2010
Drawdown: -3.53 % Date: 11/30/2010
Drawdown: -7.69 % Date: 10/31/2010
Drawdown: -6.27 % Date: 9/30/2010
Drawdown: -8.96 % Date: 8/31/2010
Drawdown: -12.29 % Date: 7/31/2010
Drawdown: -13.98 % Date: 6/30/2010
Drawdown: -15.36 % Date: 5/31/2010
Drawdown: -12.66 % Date: 4/30/2010
Drawdown: -10.24 % Date: 3/31/2010
Drawdown: -11.44 % Date: 2/28/2010
Drawdown: -15.53 % Date: 1/31/2010
Drawdown: -14.17 % Date: 12/31/2009
Drawdown: -11.59 % Date: 11/30/2009
Drawdown: -9.56 % Date: 10/31/2009
Drawdown: -11.61 % Date: 9/30/2009
Drawdown: -10.82 % Date: 8/31/2009
Drawdown: -11.40 % Date: 7/31/2009
Drawdown: -12.34 % Date: 6/30/2009
Drawdown: -11.35 % Date: 5/31/2009
Drawdown: -10.85 % Date: 4/30/2009
Drawdown: -7.80 % Date: 3/31/2009
Drawdown: -1.66 % Date: 2/28/2009
Drawdown: 0.00 % Date: 1/31/2009
Drawdown: 0.00 % Date: 12/31/2008
Drawdown: -0.26 % Date: 11/30/2008
Drawdown: 0.00 % Date: 10/31/2008
Drawdown: 0.00 % Date: 9/30/2008
Drawdown: -3.99 % Date: 8/31/2008
Drawdown: -4.31 % Date: 7/31/2008
Drawdown: -2.29 % Date: 6/30/2008
Drawdown: -2.37 % Date: 5/31/2008
Drawdown: -5.93 % Date: 4/30/2008
Drawdown: -5.83 % Date: 3/31/2008
Drawdown: -1.16 % Date: 2/29/2008
Drawdown: 0.00 % Date: 1/31/2008
Drawdown: -2.11 % Date: 12/31/2007
Drawdown: -2.15 % Date: 11/30/2007
Drawdown: -1.92 % Date: 10/31/2007
Drawdown: 0.00 % Date: 9/30/2007
Drawdown: -1.25 % Date: 8/31/2007
Drawdown: -6.06 % Date: 7/31/2007
Drawdown: -3.04 % Date: 6/30/2007
Drawdown: 0.00 % Date: 5/31/2007
Drawdown: 0.00 % Date: 4/30/2007
Drawdown: 0.00 % Date: 3/31/2007
Drawdown: -2.87 % Date: 2/28/2007
Drawdown: -2.27 % Date: 1/31/2007
Drawdown: 0.00 % Date: 12/31/2006
Drawdown: 0.00 % Date: 11/30/2006
Drawdown: 0.00 % Date: 10/31/2006
Drawdown: -0.38 % Date: 9/30/2006
Drawdown: -4.20 % Date: 8/31/2006
Drawdown: -4.03 % Date: 7/31/2006
Drawdown: -6.29 % Date: 6/30/2006
Drawdown: -3.36 % Date: 5/31/2006
Drawdown: -3.50 % Date: 4/30/2006
Drawdown: 0.00 % Date: 3/31/2006
Drawdown: 0.00 % Date: 2/28/2006
Drawdown: -0.45 % Date: 1/31/2006
Drawdown: 0.00 % Date: 12/31/2005
Drawdown: -0.14 % Date: 11/30/2005
Drawdown: -1.17 % Date: 10/31/2005
Drawdown: -3.86 % Date: 9/30/2005
Drawdown: 0.00 % Date: 8/31/2005
Drawdown: -0.71 % Date: 7/31/2005
Drawdown: 0.00 %
Note: All performance data is since program inception.

Underwater Curve

Manager Information

Manager Name:  Molinero Capital Management LLP
Address: 17 Wigmore St.
City: London
State:
Zip: W1U 1PQ
Country: UK

Key People

Name:  Rafael Molinero
Position:  Principal
Biography: 

Rafael Molinero has more than 10 years of experience in the hedge fund and financial industry. He was previously a Proprietary Portfolio Manager as well as the Risk Manager for five years at Rotella Capital Management, a CTA with up to $1.5 billion under management. He traded $15 million of proprietary capital using quantitative models he developed. He also managed a team of researchers to study new trading and portfolio allocation strategies using advanced mathematical concepts. Under his Risk Management role, he created the Risk Department and built a proprietary risk analysis platform. Prior to his role at Rotella, he was a Front Office Manager for the Structured Products & Alternative Asset Management Group at NewEdge/Calyon Financial, where he participated in the creation of the Structured Products department and designed hedge funds structured products for clients (such as capital guaranteed products and leverage return swaps). He was also in charge of managing a portfolio of CTAs and hedge funds in the Fund of Funds segment of the department. Rafael Molinero holds an MBA with High Honors (top 1%) from the University of Chicago and has a diploma from ENSIMAG, one of France’s top universities (equivalent to a Masters in Applied Mathematics).


Additional Information

 Futures Sectors Traded
 Stock Indexes Yes 
 Interest Rates Yes 
 Currencies Yes 
 Metals Yes 
 Energies Yes 
 Softs Yes 
 Grains Yes 
 Forex Yes 
 Mini-Futures Yes 
 Investment Methodology
 Technical Yes 
 Systematic Yes 
 Diversified Yes 
 Quantitative Analysis Yes 
 Volatility Trading Yes 
 Instruments Traded
 Forwards Yes 
 Futures Yes 
 Geographical Focus
 Global Yes 
 Holding Period
 Long Term Yes 
 Medium Term Yes 
 Short Term Yes 
 Intra-Week Yes 
 Investment Terms & Information
 Managed Account Minimum: $3,000,000 
 Margin / Equity Ratio: 12% 
 Managed Account Availability: Open