Just got done chatting with Robert A. Kepler of Lenapi Advisors, LLC. Kepler’s systematic prowess contributed to the building of the Global Macro arm of hedge fund titan MKP, but after realizing that the company’s emphasis on managed futures was not going to cut it for them anymore, Kepler and his partner struck out on their own.
They are currently offering one program that is commodity focused, and one is coming up that is forex focused. We were excited to hear about the managed forex program, as good ones are often few and far between. Kepler’s pedigree certainly gives this one a leg up already. We recently started tracking Lenapi’s commodity program on our website, and it will be exciting to see the results rolling in over time.
One interesting observation Robert made was that today, more than ever, investors want to talk to the little guys in the managed futures game. His observation of what we’ll call “Emerging Manager Syndrome” reminded us of the emerging manager piece we did not so long ago. Fascinating stuff.
We also had a chance to catch up with Walter and John regarding their Northfield Trading meeting. Run by Douglas Bry, this multi-strat CTA is comprised of former computer programmers whose focus on mathematic efficiency lead them to pursue a career in developing systems. As thrilled as they are with their performance thus far, don’t think they’re getting lazy now. The folks at Northfield are perpetually researching new programs.
One in particular that sounded interest to us was one based on “neuro-nets.” The idea is that via analysis of past data, the system developed will actually be able to predict market movements for the future. The idea is interesting, even if its execution is well beyond the scope of our minds.
Meetings with Covenant and AQT about to kick off.
Stay tuned for further updates on MFA happenings, and follow our tweet stream here: Attain Capital (AttainCapital) on Twitter http://bit.ly/kpWOon
The performance data displayed herein is compiled from various sources, including BarclayHedge, RCM's own estimates of performance based on account managed by advisors on its books, and reports directly from the advisors. These performance figures should not be relied on independent of the individual advisor's disclosure document, which has important information regarding the method of calculation used, whether or not the performance includes proprietary results, and other important footnotes on the advisor's track record.
Benchmark index performance is for the constituents of that index only, and does not represent the entire universe of possible investments within that asset class. And further, that there can be limitations and biases to indices such as survivorship, self reporting, and instant history.
Managed futures accounts can subject to substantial charges for management and advisory fees. The numbers within this website include all such fees, but it may be necessary for those accounts that are subject to these charges to make substantial trading profits in the future to avoid depletion or exhaustion of their assets.
Investors interested in investing with a managed futures program (excepting those programs which are offered exclusively to qualified eligible persons as that term is defined by CFTC regulation 4.7) will be required to receive and sign off on a disclosure document in compliance with certain CFT rules The disclosure documents contains a complete description of the principal risk factors and each fee to be charged to your account by the CTA, as well as the composite performance of accounts under the CTA's management over at least the most recent five years. Investor interested in investing in any of the programs on this website are urged to carefully read these disclosure documents, including, but not limited to the performance information, before investing in any such programs.
Those investors who are qualified eligible persons as that term is defined by CFTC regulation 4.7 and interested in investing in a program exempt from having to provide a disclosure document and considered by the regulations to be sophisticated enough to understand the risks and be able to interpret the accuracy and completeness of any performance information on their own.
RCM receives a portion of the commodity brokerage commissions you pay in connection with your futures trading and/or a portion of the interest income (if any) earned on an account's assets. The listed manager may also pay RCM a portion of the fees they receive from accounts introduced to them by RCM.