Altegris Clearing Solutions Ancile Capital Management, LLC Global Markets Program
Monthly Performance (%)
Date Range: 03/05 - 07/17
  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
2017 1.34 0.31 0.52 0.35 1.03 -2.81 0.88 1.57
2016 2.00 7.03 -5.65 -2.34 1.64 11.21 0.52 -2.24 3.25 -4.35 4.38 0.62 15.89
2015 6.82 0.69 2.56 -0.01 2.69 -3.66 -0.23 1.59 5.30 -2.98 3.19 -2.29 13.93
2014 2.92 8.11 -2.07 7.19 -0.71 -0.87 1.53 10.97 -0.67 -2.78 10.02 3.74 42.76
2013 9.29 -0.80 1.04 1.56 -7.85 -5.88 3.05 -0.82 -2.82 1.70 3.60 0.49 1.47
2012 -0.78 -4.68 -1.38 0.55 -10.62 1.07 12.59 -1.66 -1.64 -2.46 -0.93 1.62 -9.40
2011 1.35 0.86 -2.72 1.73 0.15 -2.44 5.38 3.09 3.58 -8.30 6.25 3.72 12.40
2010 -4.04 0.89 5.75 1.03 -8.37 1.25 -0.86 3.19 -0.40 3.64 -1.89 4.77 4.17
2009 -1.23 1.03 2.90 -4.10 -3.54 -2.38 -1.16 3.69 5.76 -3.38 1.51 2.08 0.62
2008 3.50 17.36 -5.33 0.47 -1.09 5.03 -6.03 -3.62 -1.26 2.15 5.13 3.98 19.85
2007 -3.69 -1.38 -0.65 1.60 5.86 4.11 -4.40 -5.67 0.00 6.82 2.17 8.21 12.53
2006 4.48 2.49 5.16 2.23 -5.78 1.38 -4.52 -3.08 3.52 4.28 3.97 6.59 21.73
2005 -0.13 6.42 5.42 1.57 1.04 3.80 -2.18 5.58 -2.37 20.35
Note: Estimates appear in italics. All performance data is since program inception.
Strategy Description

Mr. Stevens directs ACM's Global Markets Program (“Trading Program”) using his discretionary approach to trading. He developed his trading methods through years of analyzing computer models and trading systems and through his experiences trading in his proprietary and customer accounts. Mr. Stevens uses market data, including price action, volatility, interest rates, exchange rates, correlations between markets and other factors, in his decision-making process. Mr. Stevens monitors U.S. and foreign futures and forward markets and frequently takes positions in a large number of different markets simultaneously, although at times he may have just one or a few positions or he may take no position at all. The markets he trades include, but are not limited to, stock indexes, currencies, fixed income and interest rates, energies, agriculturals and softs, metals and materials, livestock and dairy, and G-10 and emerging market forex. Mr. Stevens incorporates rigorous risk management into the Global Markets Program. In general, he monitors historical volatility and adjusts position size in an attempt to maintain a balanced and equal level of risk at all times.

Performance Statistics
Date Range: 03/05 - 07/17
  Program SP500 TR Altegris 40
Total Return 309.72% 166.44% 42.68%
Annualized Return 12.11% 8.21% 2.90%
Annualized Std. Deviation 14.77% 13.93% 8.90%
Correlation 0.01 0.64
Sharpe Ratio (rf=2.5%) 0.65 0.41 0.05
Worst Month -10.62% -16.79% -5.20%
Date of Worst Month 05/2012 10/2008 06/2015
Worst Drawdown -16.18% -50.95% -15.74%
Date of Worst Drawdown 12/11 - 5/12 10/07 - 2/09 4/11 - 9/13
Note: Estimates appear in italics. All performance data is since program inception.
Annual Performance (%)
Date Range: 03/05 - 07/17
Year or YTD Program SP500 TR Altegris 40
2017 1.57 11.60 -3.53
2016 15.89 11.98 -3.13
2015 13.93 1.41 0.09
2014 42.76 13.69 15.75
2013 1.47 32.41 -2.45
2012 -9.40 15.98 -4.75
2011 12.40 2.12 -3.23
2010 4.17 15.06 11.33
2009 0.62 26.45 -7.98
2008 19.85 -36.99 15.47
2007 12.53 5.50 7.18
2006 21.73 15.79 6.70
2005 20.35 7.20 8.95
Note: Estimates appear in italics. All performance data is since program inception.
Performance Comparison
Date Range: 03/05 - 07/17
Date: 7/31/2017
Perf: $1,434.88 Date: 6/30/2017
Perf: $1,429.31 Date: 5/31/2017
Perf: $1,472.30 Date: 4/30/2017
Perf: $1,469.51 Date: 3/31/2017
Perf: $1,478.38 Date: 2/28/2017
Perf: $1,500.28 Date: 1/31/2017
Perf: $1,468.27 Date: 12/31/2016
Perf: $1,487.46 Date: 11/30/2016
Perf: $1,476.24 Date: 10/31/2016
Perf: $1,492.66 Date: 9/30/2016
Perf: $1,532.19 Date: 8/31/2016
Perf: $1,552.21 Date: 7/31/2016
Perf: $1,595.12 Date: 6/30/2016
Perf: $1,579.02 Date: 5/31/2016
Perf: $1,514.64 Date: 4/30/2016
Perf: $1,541.62 Date: 3/31/2016
Perf: $1,581.31 Date: 2/29/2016
Perf: $1,628.04 Date: 1/31/2016
Perf: $1,588.95 Date: 12/31/2015
Perf: $1,535.51 Date: 11/30/2015
Perf: $1,571.66 Date: 10/31/2015
Perf: $1,519.84 Date: 9/30/2015
Perf: $1,546.75 Date: 8/31/2015
Perf: $1,513.90 Date: 7/31/2015
Perf: $1,540.55 Date: 6/30/2015
Perf: $1,482.58 Date: 5/31/2015
Perf: $1,563.90 Date: 4/30/2015
Perf: $1,575.24 Date: 3/31/2015
Perf: $1,638.49 Date: 2/28/2015
Perf: $1,603.06 Date: 1/31/2015
Perf: $1,605.63 Date: 12/31/2014
Perf: $1,534.14 Date: 11/30/2014
Perf: $1,507.61 Date: 10/31/2014
Perf: $1,422.94 Date: 9/30/2014
Perf: $1,402.33 Date: 8/31/2014
Perf: $1,381.74 Date: 7/31/2014
Perf: $1,325.66 Date: 6/30/2014
Perf: $1,336.36 Date: 5/31/2014
Perf: $1,324.96 Date: 4/30/2014
Perf: $1,291.89 Date: 3/31/2014
Perf: $1,282.14 Date: 2/28/2014
Perf: $1,301.40 Date: 1/31/2014
Perf: $1,290.82 Date: 12/31/2013
Perf: $1,325.41 Date: 11/30/2013
Perf: $1,327.27 Date: 10/31/2013
Perf: $1,303.67 Date: 9/30/2013
Perf: $1,274.49 Date: 8/31/2013
Perf: $1,282.18 Date: 7/31/2013
Perf: $1,307.28 Date: 6/30/2013
Perf: $1,318.76 Date: 5/31/2013
Perf: $1,370.70 Date: 4/30/2013
Perf: $1,432.29 Date: 3/31/2013
Perf: $1,396.27 Date: 2/28/2013
Perf: $1,376.45 Date: 1/31/2013
Perf: $1,384.48 Date: 12/31/2012
Perf: $1,358.66 Date: 11/30/2012
Perf: $1,352.04 Date: 10/31/2012
Perf: $1,348.26 Date: 9/30/2012
Perf: $1,398.90 Date: 8/31/2012
Perf: $1,422.37 Date: 7/31/2012
Perf: $1,441.98 Date: 6/30/2012
Perf: $1,385.32 Date: 5/31/2012
Perf: $1,439.45 Date: 4/30/2012
Perf: $1,412.61 Date: 3/31/2012
Perf: $1,404.18 Date: 2/29/2012
Perf: $1,436.80 Date: 1/31/2012
Perf: $1,430.93 Date: 12/31/2011
Perf: $1,426.37 Date: 11/30/2011
Perf: $1,412.80 Date: 10/31/2011
Perf: $1,408.58 Date: 9/30/2011
Perf: $1,466.66 Date: 8/31/2011
Perf: $1,467.54 Date: 7/31/2011
Perf: $1,470.48 Date: 6/30/2011
Perf: $1,419.52 Date: 5/31/2011
Perf: $1,457.41 Date: 4/30/2011
Perf: $1,512.62 Date: 3/31/2011
Perf: $1,455.84 Date: 2/28/2011
Perf: $1,478.47 Date: 1/31/2011
Perf: $1,453.75 Date: 12/31/2010
Perf: $1,473.94 Date: 11/30/2010
Perf: $1,413.31 Date: 10/31/2010
Perf: $1,465.18 Date: 9/30/2010
Perf: $1,410.46 Date: 8/31/2010
Perf: $1,385.24 Date: 7/31/2010
Perf: $1,330.17 Date: 6/30/2010
Perf: $1,347.56 Date: 5/31/2010
Perf: $1,342.46 Date: 4/30/2010
Perf: $1,375.75 Date: 3/31/2010
Perf: $1,354.88 Date: 2/28/2010
Perf: $1,303.15 Date: 1/31/2010
Perf: $1,291.01 Date: 12/31/2009
Perf: $1,323.98 Date: 11/30/2009
Perf: $1,379.15 Date: 10/31/2009
Perf: $1,325.72 Date: 9/30/2009
Perf: $1,360.55 Date: 8/31/2009
Perf: $1,328.92 Date: 7/31/2009
Perf: $1,324.55 Date: 6/30/2009
Perf: $1,326.01 Date: 5/31/2009
Perf: $1,362.25 Date: 4/30/2009
Perf: $1,343.70 Date: 3/31/2009
Perf: $1,389.13 Date: 2/28/2009
Perf: $1,428.70 Date: 1/31/2009
Perf: $1,429.42 Date: 12/31/2008
Perf: $1,438.77 Date: 11/30/2008
Perf: $1,402.72 Date: 10/31/2008
Perf: $1,353.06 Date: 9/30/2008
Perf: $1,286.79 Date: 8/31/2008
Perf: $1,284.09 Date: 7/31/2008
Perf: $1,319.32 Date: 6/30/2008
Perf: $1,382.79 Date: 5/31/2008
Perf: $1,346.83 Date: 4/30/2008
Perf: $1,319.65 Date: 3/31/2008
Perf: $1,335.00 Date: 2/29/2008
Perf: $1,340.90 Date: 1/31/2008
Perf: $1,268.71 Date: 12/31/2007
Perf: $1,246.03 Date: 11/30/2007
Perf: $1,248.90 Date: 10/31/2007
Perf: $1,257.07 Date: 9/30/2007
Perf: $1,205.13 Date: 8/31/2007
Perf: $1,151.36 Date: 7/31/2007
Perf: $1,195.97 Date: 6/30/2007
Perf: $1,234.11 Date: 5/31/2007
Perf: $1,199.44 Date: 4/30/2007
Perf: $1,158.10 Date: 3/31/2007
Perf: $1,111.42 Date: 2/28/2007
Perf: $1,138.05 Date: 1/31/2007
Perf: $1,182.39 Date: 12/31/2006
Perf: $1,162.51 Date: 11/30/2006
Perf: $1,124.50 Date: 10/31/2006
Perf: $1,097.61 Date: 9/30/2006
Perf: $1,085.67 Date: 8/31/2006
Perf: $1,097.30 Date: 7/31/2006
Perf: $1,085.15 Date: 6/30/2006
Perf: $1,101.45 Date: 5/31/2006
Perf: $1,116.75 Date: 4/30/2006
Perf: $1,147.15 Date: 3/31/2006
Perf: $1,119.82 Date: 2/28/2006
Perf: $1,090.60 Date: 1/31/2006
Perf: $1,110.36 Date: 12/31/2005
Perf: $1,089.55 Date: 11/30/2005
Perf: $1,109.63 Date: 10/31/2005
Perf: $1,063.99 Date: 9/30/2005
Perf: $1,062.29 Date: 8/31/2005
Perf: $1,046.18 Date: 7/31/2005
Perf: $1,040.56 Date: 6/30/2005
Perf: $1,039.94 Date: 5/31/2005
Perf: $1,005.64 Date: 4/30/2005
Perf: $975.50 Date: 3/31/2005
Perf: $1,000.00 Date: 7/31/2017
Perf: $2,712.43 Date: 6/30/2017
Perf: $2,657.68 Date: 5/31/2017
Perf: $2,641.30 Date: 4/30/2017
Perf: $2,604.58 Date: 3/31/2017
Perf: $2,578.02 Date: 2/28/2017
Perf: $2,574.93 Date: 1/31/2017
Perf: $2,476.61 Date: 12/31/2016
Perf: $2,430.44 Date: 11/30/2016
Perf: $2,383.25 Date: 10/31/2016
Perf: $2,298.21 Date: 9/30/2016
Perf: $2,340.82 Date: 8/31/2016
Perf: $2,340.35 Date: 7/31/2016
Perf: $2,337.08 Date: 6/30/2016
Perf: $2,253.91 Date: 5/31/2016
Perf: $2,248.06 Date: 4/30/2016
Perf: $2,208.31 Date: 3/31/2016
Perf: $2,199.73 Date: 2/29/2016
Perf: $2,060.06 Date: 1/31/2016
Perf: $2,062.74 Date: 12/31/2015
Perf: $2,170.39 Date: 11/30/2015
Perf: $2,205.24 Date: 10/31/2015
Perf: $2,198.64 Date: 9/30/2015
Perf: $2,027.52 Date: 8/31/2015
Perf: $2,078.87 Date: 7/31/2015
Perf: $2,212.27 Date: 6/30/2015
Perf: $2,166.76 Date: 5/31/2015
Perf: $2,209.63 Date: 4/30/2015
Perf: $2,181.49 Date: 3/31/2015
Perf: $2,160.75 Date: 2/28/2015
Perf: $2,195.43 Date: 1/31/2015
Perf: $2,076.06 Date: 12/31/2014
Perf: $2,140.27 Date: 11/30/2014
Perf: $2,145.63 Date: 10/31/2014
Perf: $2,089.43 Date: 9/30/2014
Perf: $2,039.66 Date: 8/31/2014
Perf: $2,068.62 Date: 7/31/2014
Perf: $1,989.06 Date: 6/30/2014
Perf: $2,016.89 Date: 5/31/2014
Perf: $1,975.99 Date: 4/30/2014
Perf: $1,930.62 Date: 3/31/2014
Perf: $1,916.44 Date: 2/28/2014
Perf: $1,900.47 Date: 1/31/2014
Perf: $1,817.42 Date: 12/31/2013
Perf: $1,882.55 Date: 11/30/2013
Perf: $1,836.10 Date: 10/31/2013
Perf: $1,781.76 Date: 9/30/2013
Perf: $1,703.40 Date: 8/31/2013
Perf: $1,651.54 Date: 7/31/2013
Perf: $1,700.87 Date: 6/30/2013
Perf: $1,618.49 Date: 5/31/2013
Perf: $1,640.47 Date: 4/30/2013
Perf: $1,602.96 Date: 3/31/2013
Perf: $1,572.61 Date: 2/28/2013
Perf: $1,515.77 Date: 1/31/2013
Perf: $1,495.43 Date: 12/31/2012
Perf: $1,421.78 Date: 11/30/2012
Perf: $1,408.96 Date: 10/31/2012
Perf: $1,400.83 Date: 9/30/2012
Perf: $1,427.24 Date: 8/31/2012
Perf: $1,391.34 Date: 7/31/2012
Perf: $1,360.72 Date: 6/30/2012
Perf: $1,342.07 Date: 5/31/2012
Perf: $1,288.96 Date: 4/30/2012
Perf: $1,371.39 Date: 3/31/2012
Perf: $1,380.08 Date: 2/29/2012
Perf: $1,336.12 Date: 1/31/2012
Perf: $1,280.79 Date: 12/31/2011
Perf: $1,225.87 Date: 11/30/2011
Perf: $1,213.49 Date: 10/31/2011
Perf: $1,216.17 Date: 9/30/2011
Perf: $1,096.34 Date: 8/31/2011
Perf: $1,179.24 Date: 7/31/2011
Perf: $1,246.95 Date: 6/30/2011
Perf: $1,272.79 Date: 5/31/2011
Perf: $1,294.40 Date: 4/30/2011
Perf: $1,309.20 Date: 3/31/2011
Perf: $1,271.56 Date: 2/28/2011
Perf: $1,271.05 Date: 1/31/2011
Perf: $1,228.90 Date: 12/31/2010
Perf: $1,200.45 Date: 11/30/2010
Perf: $1,125.28 Date: 10/31/2010
Perf: $1,125.17 Date: 9/30/2010
Perf: $1,083.87 Date: 8/31/2010
Perf: $995.11 Date: 7/31/2010
Perf: $1,042.11 Date: 6/30/2010
Perf: $973.84 Date: 5/31/2010
Perf: $1,027.58 Date: 4/30/2010
Perf: $1,116.82 Date: 3/31/2010
Perf: $1,099.45 Date: 2/28/2010
Perf: $1,036.92 Date: 1/31/2010
Perf: $1,005.74 Date: 12/31/2009
Perf: $1,043.30 Date: 11/30/2009
Perf: $1,023.55 Date: 10/31/2009
Perf: $965.61 Date: 9/30/2009
Perf: $983.91 Date: 8/31/2009
Perf: $948.53 Date: 7/31/2009
Perf: $915.48 Date: 6/30/2009
Perf: $851.14 Date: 5/31/2009
Perf: $849.44 Date: 4/30/2009
Perf: $804.47 Date: 3/31/2009
Perf: $734.20 Date: 2/28/2009
Perf: $675.07 Date: 1/31/2009
Perf: $755.53 Date: 12/31/2008
Perf: $825.09 Date: 11/30/2008
Perf: $816.43 Date: 10/31/2008
Perf: $879.59 Date: 9/30/2008
Perf: $1,057.07 Date: 8/31/2008
Perf: $1,160.47 Date: 7/31/2008
Perf: $1,143.88 Date: 6/30/2008
Perf: $1,153.57 Date: 5/31/2008
Perf: $1,259.77 Date: 4/30/2008
Perf: $1,243.60 Date: 3/31/2008
Perf: $1,185.85 Date: 2/29/2008
Perf: $1,190.97 Date: 1/31/2008
Perf: $1,230.98 Date: 12/31/2007
Perf: $1,309.55 Date: 11/30/2007
Perf: $1,318.65 Date: 10/31/2007
Perf: $1,376.18 Date: 9/30/2007
Perf: $1,354.64 Date: 8/31/2007
Perf: $1,305.80 Date: 7/31/2007
Perf: $1,286.50 Date: 6/30/2007
Perf: $1,327.66 Date: 5/31/2007
Perf: $1,350.07 Date: 4/30/2007
Perf: $1,304.54 Date: 3/31/2007
Perf: $1,249.20 Date: 2/28/2007
Perf: $1,235.37 Date: 1/31/2007
Perf: $1,260.06 Date: 12/31/2006
Perf: $1,241.32 Date: 11/30/2006
Perf: $1,224.18 Date: 10/31/2006
Perf: $1,201.36 Date: 9/30/2006
Perf: $1,163.43 Date: 8/31/2006
Perf: $1,134.17 Date: 7/31/2006
Perf: $1,107.80 Date: 6/30/2006
Perf: $1,100.97 Date: 5/31/2006
Perf: $1,099.44 Date: 4/30/2006
Perf: $1,132.04 Date: 3/31/2006
Perf: $1,117.07 Date: 2/28/2006
Perf: $1,103.39 Date: 1/31/2006
Perf: $1,100.42 Date: 12/31/2005
Perf: $1,072.01 Date: 11/30/2005
Perf: $1,071.69 Date: 10/31/2005
Perf: $1,032.65 Date: 9/30/2005
Perf: $1,050.19 Date: 8/31/2005
Perf: $1,041.75 Date: 7/31/2005
Perf: $1,051.32 Date: 6/30/2005
Perf: $1,013.61 Date: 5/31/2005
Perf: $1,012.20 Date: 4/30/2005
Perf: $981.00 Date: 3/31/2005
Perf: $1,000.00 Date: 7/31/2017
Perf: $4,097.20 Date: 6/30/2017
Perf: $4,061.46 Date: 5/31/2017
Perf: $4,178.89 Date: 4/30/2017
Perf: $4,136.28 Date: 3/31/2017
Perf: $4,121.86 Date: 2/28/2017
Perf: $4,100.53 Date: 1/31/2017
Perf: $4,087.86 Date: 12/31/2016
Perf: $4,033.81 Date: 11/30/2016
Perf: $4,008.95 Date: 10/31/2016
Perf: $3,840.73 Date: 9/30/2016
Perf: $4,015.40 Date: 8/31/2016
Perf: $3,889.00 Date: 7/31/2016
Perf: $3,978.11 Date: 6/30/2016
Perf: $3,957.54 Date: 5/31/2016
Perf: $3,558.61 Date: 4/30/2016
Perf: $3,501.20 Date: 3/31/2016
Perf: $3,585.09 Date: 2/29/2016
Perf: $3,799.77 Date: 1/31/2016
Perf: $3,550.19 Date: 12/31/2015
Perf: $3,480.58 Date: 11/30/2015
Perf: $3,562.16 Date: 10/31/2015
Perf: $3,452.04 Date: 9/30/2015
Perf: $3,558.07 Date: 8/31/2015
Perf: $3,378.98 Date: 7/31/2015
Perf: $3,326.10 Date: 6/30/2015
Perf: $3,333.76 Date: 5/31/2015
Perf: $3,460.41 Date: 4/30/2015
Perf: $3,369.77 Date: 3/31/2015
Perf: $3,370.11 Date: 2/28/2015
Perf: $3,285.98 Date: 1/31/2015
Perf: $3,263.47 Date: 12/31/2014
Perf: $3,055.11 Date: 11/30/2014
Perf: $2,944.97 Date: 10/31/2014
Perf: $2,676.76 Date: 9/30/2014
Perf: $2,753.30 Date: 8/31/2014
Perf: $2,771.87 Date: 7/31/2014
Perf: $2,497.85 Date: 6/30/2014
Perf: $2,460.21 Date: 5/31/2014
Perf: $2,481.80 Date: 4/30/2014
Perf: $2,499.55 Date: 3/31/2014
Perf: $2,331.89 Date: 2/28/2014
Perf: $2,381.18 Date: 1/31/2014
Perf: $2,202.55 Date: 12/31/2013
Perf: $2,140.06 Date: 11/30/2013
Perf: $2,129.63 Date: 10/31/2013
Perf: $2,055.62 Date: 9/30/2013
Perf: $2,021.26 Date: 8/31/2013
Perf: $2,079.92 Date: 7/31/2013
Perf: $2,097.11 Date: 6/30/2013
Perf: $2,035.04 Date: 5/31/2013
Perf: $2,162.18 Date: 4/30/2013
Perf: $2,346.37 Date: 3/31/2013
Perf: $2,310.33 Date: 2/28/2013
Perf: $2,286.55 Date: 1/31/2013
Perf: $2,304.99 Date: 12/31/2012
Perf: $2,109.06 Date: 11/30/2012
Perf: $2,075.44 Date: 10/31/2012
Perf: $2,094.92 Date: 9/30/2012
Perf: $2,147.75 Date: 8/31/2012
Perf: $2,183.56 Date: 7/31/2012
Perf: $2,220.42 Date: 6/30/2012
Perf: $1,972.13 Date: 5/31/2012
Perf: $1,951.25 Date: 4/30/2012
Perf: $2,183.10 Date: 3/31/2012
Perf: $2,171.16 Date: 2/29/2012
Perf: $2,201.54 Date: 1/31/2012
Perf: $2,309.63 Date: 12/31/2011
Perf: $2,327.78 Date: 11/30/2011
Perf: $2,244.30 Date: 10/31/2011
Perf: $2,112.28 Date: 9/30/2011
Perf: $2,303.47 Date: 8/31/2011
Perf: $2,223.85 Date: 7/31/2011
Perf: $2,157.20 Date: 6/30/2011
Perf: $2,047.06 Date: 5/31/2011
Perf: $2,098.26 Date: 4/30/2011
Perf: $2,095.12 Date: 3/31/2011
Perf: $2,059.49 Date: 2/28/2011
Perf: $2,117.07 Date: 1/31/2011
Perf: $2,099.02 Date: 12/31/2010
Perf: $2,071.06 Date: 11/30/2010
Perf: $1,976.77 Date: 10/31/2010
Perf: $2,014.85 Date: 9/30/2010
Perf: $1,944.09 Date: 8/31/2010
Perf: $1,951.89 Date: 7/31/2010
Perf: $1,891.55 Date: 6/30/2010
Perf: $1,907.96 Date: 5/31/2010
Perf: $1,884.41 Date: 4/30/2010
Perf: $2,056.54 Date: 3/31/2010
Perf: $2,035.57 Date: 2/28/2010
Perf: $1,924.89 Date: 1/31/2010
Perf: $1,907.91 Date: 12/31/2009
Perf: $1,988.24 Date: 11/30/2009
Perf: $1,947.72 Date: 10/31/2009
Perf: $1,918.75 Date: 9/30/2009
Perf: $1,985.87 Date: 8/31/2009
Perf: $1,877.72 Date: 7/31/2009
Perf: $1,810.89 Date: 6/30/2009
Perf: $1,832.15 Date: 5/31/2009
Perf: $1,876.82 Date: 4/30/2009
Perf: $1,945.69 Date: 3/31/2009
Perf: $2,028.88 Date: 2/28/2009
Perf: $1,971.70 Date: 1/31/2009
Perf: $1,951.60 Date: 12/31/2008
Perf: $1,975.90 Date: 11/30/2008
Perf: $1,900.27 Date: 10/31/2008
Perf: $1,807.54 Date: 9/30/2008
Perf: $1,769.50 Date: 8/31/2008
Perf: $1,792.08 Date: 7/31/2008
Perf: $1,859.39 Date: 6/30/2008
Perf: $1,978.70 Date: 5/31/2008
Perf: $1,883.94 Date: 4/30/2008
Perf: $1,904.70 Date: 3/31/2008
Perf: $1,895.79 Date: 2/29/2008
Perf: $2,002.53 Date: 1/31/2008
Perf: $1,706.31 Date: 12/31/2007
Perf: $1,648.61 Date: 11/30/2007
Perf: $1,523.53 Date: 10/31/2007
Perf: $1,491.17 Date: 9/30/2007
Perf: $1,395.97 Date: 8/31/2007
Perf: $1,395.97 Date: 7/31/2007
Perf: $1,479.87 Date: 6/30/2007
Perf: $1,547.99 Date: 5/31/2007
Perf: $1,486.88 Date: 4/30/2007
Perf: $1,404.57 Date: 3/31/2007
Perf: $1,382.45 Date: 2/28/2007
Perf: $1,391.49 Date: 1/31/2007
Perf: $1,410.96 Date: 12/31/2006
Perf: $1,465.02 Date: 11/30/2006
Perf: $1,374.45 Date: 10/31/2006
Perf: $1,321.97 Date: 9/30/2006
Perf: $1,267.71 Date: 8/31/2006
Perf: $1,224.60 Date: 7/31/2006
Perf: $1,263.52 Date: 6/30/2006
Perf: $1,323.33 Date: 5/31/2006
Perf: $1,305.32 Date: 4/30/2006
Perf: $1,385.40 Date: 3/31/2006
Perf: $1,355.17 Date: 2/28/2006
Perf: $1,288.68 Date: 1/31/2006
Perf: $1,257.37 Date: 12/31/2005
Perf: $1,203.46 Date: 11/30/2005
Perf: $1,232.67 Date: 10/31/2005
Perf: $1,167.52 Date: 9/30/2005
Perf: $1,193.54 Date: 8/31/2005
Perf: $1,149.85 Date: 7/31/2005
Perf: $1,138.01 Date: 6/30/2005
Perf: $1,120.42 Date: 5/31/2005
Perf: $1,062.82 Date: 4/30/2005
Perf: $998.70 Date: 3/31/2005
Perf: $1,000.00
Note: All performance data is since program inception.

Monthly Returns
Date Range: 03/05 - 07/17
Date: 7/31/2017
Return: 0.88 % Date: 6/30/2017
Return: -2.81 % Date: 5/31/2017
Return: 1.03 % Date: 4/30/2017
Return: 0.35 % Date: 3/31/2017
Return: 0.52 % Date: 2/28/2017
Return: 0.31 % Date: 1/31/2017
Return: 1.34 % Date: 12/31/2016
Return: 0.62 % Date: 11/30/2016
Return: 4.38 % Date: 10/31/2016
Return: -4.35 % Date: 9/30/2016
Return: 3.25 % Date: 8/31/2016
Return: -2.24 % Date: 7/31/2016
Return: 0.52 % Date: 6/30/2016
Return: 11.21 % Date: 5/31/2016
Return: 1.64 % Date: 4/30/2016
Return: -2.34 % Date: 3/31/2016
Return: -5.65 % Date: 2/29/2016
Return: 7.03 % Date: 1/31/2016
Return: 2.00 % Date: 12/31/2015
Return: -2.29 % Date: 11/30/2015
Return: 3.19 % Date: 10/31/2015
Return: -2.98 % Date: 9/30/2015
Return: 5.30 % Date: 8/31/2015
Return: 1.59 % Date: 7/31/2015
Return: -0.23 % Date: 6/30/2015
Return: -3.66 % Date: 5/31/2015
Return: 2.69 % Date: 4/30/2015
Return: -0.01 % Date: 3/31/2015
Return: 2.56 % Date: 2/28/2015
Return: 0.69 % Date: 1/31/2015
Return: 6.82 % Date: 12/31/2014
Return: 3.74 % Date: 11/30/2014
Return: 10.02 % Date: 10/31/2014
Return: -2.78 % Date: 9/30/2014
Return: -0.67 % Date: 8/31/2014
Return: 10.97 % Date: 7/31/2014
Return: 1.53 % Date: 6/30/2014
Return: -0.87 % Date: 5/31/2014
Return: -0.71 % Date: 4/30/2014
Return: 7.19 % Date: 3/31/2014
Return: -2.07 % Date: 2/28/2014
Return: 8.11 % Date: 1/31/2014
Return: 2.92 % Date: 12/31/2013
Return: 0.49 % Date: 11/30/2013
Return: 3.60 % Date: 10/31/2013
Return: 1.70 % Date: 9/30/2013
Return: -2.82 % Date: 8/31/2013
Return: -0.82 % Date: 7/31/2013
Return: 3.05 % Date: 6/30/2013
Return: -5.88 % Date: 5/31/2013
Return: -7.85 % Date: 4/30/2013
Return: 1.56 % Date: 3/31/2013
Return: 1.04 % Date: 2/28/2013
Return: -0.80 % Date: 1/31/2013
Return: 9.29 % Date: 12/31/2012
Return: 1.62 % Date: 11/30/2012
Return: -0.93 % Date: 10/31/2012
Return: -2.46 % Date: 9/30/2012
Return: -1.64 % Date: 8/31/2012
Return: -1.66 % Date: 7/31/2012
Return: 12.59 % Date: 6/30/2012
Return: 1.07 % Date: 5/31/2012
Return: -10.62 % Date: 4/30/2012
Return: 0.55 % Date: 3/31/2012
Return: -1.38 % Date: 2/29/2012
Return: -4.68 % Date: 1/31/2012
Return: -0.78 % Date: 12/31/2011
Return: 3.72 % Date: 11/30/2011
Return: 6.25 % Date: 10/31/2011
Return: -8.30 % Date: 9/30/2011
Return: 3.58 % Date: 8/31/2011
Return: 3.09 % Date: 7/31/2011
Return: 5.38 % Date: 6/30/2011
Return: -2.44 % Date: 5/31/2011
Return: 0.15 % Date: 4/30/2011
Return: 1.73 % Date: 3/31/2011
Return: -2.72 % Date: 2/28/2011
Return: 0.86 % Date: 1/31/2011
Return: 1.35 % Date: 12/31/2010
Return: 4.77 % Date: 11/30/2010
Return: -1.89 % Date: 10/31/2010
Return: 3.64 % Date: 9/30/2010
Return: -0.40 % Date: 8/31/2010
Return: 3.19 % Date: 7/31/2010
Return: -0.86 % Date: 6/30/2010
Return: 1.25 % Date: 5/31/2010
Return: -8.37 % Date: 4/30/2010
Return: 1.03 % Date: 3/31/2010
Return: 5.75 % Date: 2/28/2010
Return: 0.89 % Date: 1/31/2010
Return: -4.04 % Date: 12/31/2009
Return: 2.08 % Date: 11/30/2009
Return: 1.51 % Date: 10/31/2009
Return: -3.38 % Date: 9/30/2009
Return: 5.76 % Date: 8/31/2009
Return: 3.69 % Date: 7/31/2009
Return: -1.16 % Date: 6/30/2009
Return: -2.38 % Date: 5/31/2009
Return: -3.54 % Date: 4/30/2009
Return: -4.10 % Date: 3/31/2009
Return: 2.90 % Date: 2/28/2009
Return: 1.03 % Date: 1/31/2009
Return: -1.23 % Date: 12/31/2008
Return: 3.98 % Date: 11/30/2008
Return: 5.13 % Date: 10/31/2008
Return: 2.15 % Date: 9/30/2008
Return: -1.26 % Date: 8/31/2008
Return: -3.62 % Date: 7/31/2008
Return: -6.03 % Date: 6/30/2008
Return: 5.03 % Date: 5/31/2008
Return: -1.09 % Date: 4/30/2008
Return: 0.47 % Date: 3/31/2008
Return: -5.33 % Date: 2/29/2008
Return: 17.36 % Date: 1/31/2008
Return: 3.50 % Date: 12/31/2007
Return: 8.21 % Date: 11/30/2007
Return: 2.17 % Date: 10/31/2007
Return: 6.82 % Date: 9/30/2007
Return: 0.00 % Date: 8/31/2007
Return: -5.67 % Date: 7/31/2007
Return: -4.40 % Date: 6/30/2007
Return: 4.11 % Date: 5/31/2007
Return: 5.86 % Date: 4/30/2007
Return: 1.60 % Date: 3/31/2007
Return: -0.65 % Date: 2/28/2007
Return: -1.38 % Date: 1/31/2007
Return: -3.69 % Date: 12/31/2006
Return: 6.59 % Date: 11/30/2006
Return: 3.97 % Date: 10/31/2006
Return: 4.28 % Date: 9/30/2006
Return: 3.52 % Date: 8/31/2006
Return: -3.08 % Date: 7/31/2006
Return: -4.52 % Date: 6/30/2006
Return: 1.38 % Date: 5/31/2006
Return: -5.78 % Date: 4/30/2006
Return: 2.23 % Date: 3/31/2006
Return: 5.16 % Date: 2/28/2006
Return: 2.49 % Date: 1/31/2006
Return: 4.48 % Date: 12/31/2005
Return: -2.37 % Date: 11/30/2005
Return: 5.58 % Date: 10/31/2005
Return: -2.18 % Date: 9/30/2005
Return: 3.80 % Date: 8/31/2005
Return: 1.04 % Date: 7/31/2005
Return: 1.57 % Date: 6/30/2005
Return: 5.42 % Date: 5/31/2005
Return: 6.42 % Date: 4/30/2005
Return: -0.13 % Date: 3/31/2005
Return: 0.00 %
Note: All performance data is since program inception.

Distribution of Monthly Returns
Date Range: 03/05 - 07/17
Return: 10.00 %
Count: 1 Return: 11.00 %
Count: 2 Return: 9.00 %
Count: 1 Return: 13.00 %
Count: 1 Return: -11.00 %
Count: 1 Return: -8.00 %
Count: 3 Return: 3.00 %
Count: 9 Return: 17.00 %
Count: 1 Return: 8.00 %
Count: 2 Return: -1.00 %
Count: 15 Return: -4.00 %
Count: 8 Return: 7.00 %
Count: 5 Return: -3.00 %
Count: 7 Return: -5.00 %
Count: 3 Return: -6.00 %
Count: 5 Return: -2.00 %
Count: 12 Return: 4.00 %
Count: 15 Return: 1.00 %
Count: 18 Return: 2.00 %
Count: 16 Return: 5.00 %
Count: 7 Return: 6.00 %
Count: 6 Return: 0.00 %
Count: 11
Note: All performance data is since program inception.

Underwater Curve
Date Range: 03/05 - 07/17
Date: 7/31/2017
Drawdown: -1.95 % Date: 6/30/2017
Drawdown: -2.81 % Date: 5/31/2017
Drawdown: 0.00 % Date: 4/30/2017
Drawdown: 0.00 % Date: 3/31/2017
Drawdown: 0.00 % Date: 2/28/2017
Drawdown: 0.00 % Date: 1/31/2017
Drawdown: 0.00 % Date: 12/31/2016
Drawdown: 0.00 % Date: 11/30/2016
Drawdown: -0.16 % Date: 10/31/2016
Drawdown: -4.35 % Date: 9/30/2016
Drawdown: 0.00 % Date: 8/31/2016
Drawdown: -2.24 % Date: 7/31/2016
Drawdown: 0.00 % Date: 6/30/2016
Drawdown: 0.00 % Date: 5/31/2016
Drawdown: -6.35 % Date: 4/30/2016
Drawdown: -7.86 % Date: 3/31/2016
Drawdown: -5.65 % Date: 2/29/2016
Drawdown: 0.00 % Date: 1/31/2016
Drawdown: -0.34 % Date: 12/31/2015
Drawdown: -2.29 % Date: 11/30/2015
Drawdown: 0.00 % Date: 10/31/2015
Drawdown: -2.98 % Date: 9/30/2015
Drawdown: 0.00 % Date: 8/31/2015
Drawdown: -2.35 % Date: 7/31/2015
Drawdown: -3.88 % Date: 6/30/2015
Drawdown: -3.66 % Date: 5/31/2015
Drawdown: 0.00 % Date: 4/30/2015
Drawdown: -0.01 % 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: 0.00 % Date: 11/30/2014
Drawdown: 0.00 % Date: 10/31/2014
Drawdown: -3.43 % Date: 9/30/2014
Drawdown: -0.67 % Date: 8/31/2014
Drawdown: 0.00 % Date: 7/31/2014
Drawdown: -0.07 % Date: 6/30/2014
Drawdown: -1.57 % Date: 5/31/2014
Drawdown: -0.71 % Date: 4/30/2014
Drawdown: 0.00 % Date: 3/31/2014
Drawdown: -2.07 % Date: 2/28/2014
Drawdown: 0.00 % Date: 1/31/2014
Drawdown: -6.13 % Date: 12/31/2013
Drawdown: -8.79 % Date: 11/30/2013
Drawdown: -9.24 % Date: 10/31/2013
Drawdown: -12.39 % Date: 9/30/2013
Drawdown: -13.86 % Date: 8/31/2013
Drawdown: -11.36 % Date: 7/31/2013
Drawdown: -10.62 % Date: 6/30/2013
Drawdown: -13.27 % Date: 5/31/2013
Drawdown: -7.85 % Date: 4/30/2013
Drawdown: 0.00 % Date: 3/31/2013
Drawdown: -0.75 % Date: 2/28/2013
Drawdown: -1.77 % Date: 1/31/2013
Drawdown: -0.98 % Date: 12/31/2012
Drawdown: -9.40 % Date: 11/30/2012
Drawdown: -10.84 % Date: 10/31/2012
Drawdown: -10.00 % Date: 9/30/2012
Drawdown: -7.73 % Date: 8/31/2012
Drawdown: -6.20 % Date: 7/31/2012
Drawdown: -4.61 % Date: 6/30/2012
Drawdown: -15.28 % Date: 5/31/2012
Drawdown: -16.18 % Date: 4/30/2012
Drawdown: -6.22 % Date: 3/31/2012
Drawdown: -6.73 % Date: 2/29/2012
Drawdown: -5.42 % Date: 1/31/2012
Drawdown: -0.78 % Date: 12/31/2011
Drawdown: 0.00 % Date: 11/30/2011
Drawdown: -2.57 % Date: 10/31/2011
Drawdown: -8.30 % Date: 9/30/2011
Drawdown: 0.00 % Date: 8/31/2011
Drawdown: 0.00 % Date: 7/31/2011
Drawdown: 0.00 % Date: 6/30/2011
Drawdown: -3.31 % Date: 5/31/2011
Drawdown: -0.89 % Date: 4/30/2011
Drawdown: -1.04 % Date: 3/31/2011
Drawdown: -2.72 % Date: 2/28/2011
Drawdown: 0.00 % Date: 1/31/2011
Drawdown: 0.00 % Date: 12/31/2010
Drawdown: 0.00 % Date: 11/30/2010
Drawdown: -3.88 % Date: 10/31/2010
Drawdown: -2.03 % Date: 9/30/2010
Drawdown: -5.47 % Date: 8/31/2010
Drawdown: -5.09 % Date: 7/31/2010
Drawdown: -8.02 % Date: 6/30/2010
Drawdown: -7.22 % Date: 5/31/2010
Drawdown: -8.37 % Date: 4/30/2010
Drawdown: 0.00 % Date: 3/31/2010
Drawdown: 0.00 % Date: 2/28/2010
Drawdown: -5.13 % Date: 1/31/2010
Drawdown: -5.96 % Date: 12/31/2009
Drawdown: -2.00 % Date: 11/30/2009
Drawdown: -4.00 % Date: 10/31/2009
Drawdown: -5.43 % Date: 9/30/2009
Drawdown: -2.12 % Date: 8/31/2009
Drawdown: -7.45 % Date: 7/31/2009
Drawdown: -10.74 % Date: 6/30/2009
Drawdown: -9.70 % Date: 5/31/2009
Drawdown: -7.49 % Date: 4/30/2009
Drawdown: -4.10 % Date: 3/31/2009
Drawdown: 0.00 % Date: 2/28/2009
Drawdown: -1.54 % Date: 1/31/2009
Drawdown: -2.54 % Date: 12/31/2008
Drawdown: -1.33 % Date: 11/30/2008
Drawdown: -5.11 % Date: 10/31/2008
Drawdown: -9.74 % Date: 9/30/2008
Drawdown: -11.64 % Date: 8/31/2008
Drawdown: -10.51 % Date: 7/31/2008
Drawdown: -7.15 % Date: 6/30/2008
Drawdown: -1.19 % Date: 5/31/2008
Drawdown: -5.92 % Date: 4/30/2008
Drawdown: -4.89 % Date: 3/31/2008
Drawdown: -5.33 % Date: 2/29/2008
Drawdown: 0.00 % Date: 1/31/2008
Drawdown: 0.00 % Date: 12/31/2007
Drawdown: 0.00 % Date: 11/30/2007
Drawdown: -1.58 % Date: 10/31/2007
Drawdown: -3.67 % Date: 9/30/2007
Drawdown: -9.82 % Date: 8/31/2007
Drawdown: -9.82 % Date: 7/31/2007
Drawdown: -4.40 % Date: 6/30/2007
Drawdown: 0.00 % Date: 5/31/2007
Drawdown: 0.00 % Date: 4/30/2007
Drawdown: -4.13 % Date: 3/31/2007
Drawdown: -5.64 % Date: 2/28/2007
Drawdown: -5.02 % Date: 1/31/2007
Drawdown: -3.69 % Date: 12/31/2006
Drawdown: 0.00 % Date: 11/30/2006
Drawdown: -0.79 % Date: 10/31/2006
Drawdown: -4.58 % Date: 9/30/2006
Drawdown: -8.49 % Date: 8/31/2006
Drawdown: -11.61 % Date: 7/31/2006
Drawdown: -8.80 % Date: 6/30/2006
Drawdown: -4.48 % Date: 5/31/2006
Drawdown: -5.78 % Date: 4/30/2006
Drawdown: 0.00 % Date: 3/31/2006
Drawdown: 0.00 % Date: 2/28/2006
Drawdown: 0.00 % Date: 1/31/2006
Drawdown: 0.00 % Date: 12/31/2005
Drawdown: -2.37 % Date: 11/30/2005
Drawdown: 0.00 % Date: 10/31/2005
Drawdown: -2.18 % Date: 9/30/2005
Drawdown: 0.00 % Date: 8/31/2005
Drawdown: 0.00 % Date: 7/31/2005
Drawdown: 0.00 % Date: 6/30/2005
Drawdown: 0.00 % Date: 5/31/2005
Drawdown: 0.00 % Date: 4/30/2005
Drawdown: -0.13 %
Note: All performance data is since program inception.
Notes to Performance

Manager Information
Manager Name:  Ancile Capital Management, LLC
Address: 150 Franklin Street, 5th Floor
City: New York
State: NY
Zip: 10013
Country: USA
Key People
Name:  Neal Stevens
Position:  Principal
Biography: 

Neal Stevens is the sole principal and chief executive officer of ACM. Mr. Stevens became a member of the National Futures Associate and was registered with the Commodity Futures Trading Commission as a Principal and an Associated Person of ACM on 24 November 2003. On 1 April 2005, Mr. Stevens began directing trading in accounts managed by ACM. From December 2002 through March 2005, Mr. Stevens worked to establish ACM. To do this, he researched and developed trading strategies, executed those strategies in his proprietary accounts to build a track record, and engaged in the administrative, legal and marketing efforts necessary to launch ACM as an asset management business. Mr. Stevens is a lawyer licensed to practice law in New York and Wisconsin, and prior to December 2002 he spent four years practicing law in the tax department of several large law firms. In December 2002, he left the practice of law to form ACM and develop an asset management and proprietary trading business. Mr. Stevens graduated from Colgate University with a B.A. degree in 1993. In 1997, Mr. Stevens received a J.D. degree, cum laude, from the University of Wisconsin Law School. In 2000, he received an LL.M. degree in Tax Law from New York University Law School.


Additional Information

The Program Performance information presented in this and other areas of the www.managedfutures.com website was prepared by Altegris Clearing Solutions, LLC, an affiliate within the Altegris Group of Companies, based upon information provided by each respective manager of commodity futures and foreign currency trading programs tracked by Altegris Clearing Solutions and its affiliates. The Program Performance information does not contain opinion or analysis of Altegris Clearing Solutions or any of its affiliates, and the completeness and accuracy of performance information reported to Altegris Clearing Solutions cannot in all cases be independently verified. See “Additional Information” at the end of this page for further details regarding the presentation of performance. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.