Altegris Clearing Solutions Westphal Trading Diversified Trend-Following *PROP*
Monthly Performance (%)
Date Range: 04/10 - 07/17
  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
2017 -2.40 3.39 -0.37 1.33 2.90 -3.18 2.64 4.17
2016 -0.25 1.33 -3.58 1.87 -4.33 2.64 4.10 -2.90 -2.11 -2.15 2.12 -0.85 -4.43
2015 8.82 -5.19 -2.34 -4.36 -0.85 -2.76 1.61 0.90 -0.71 -0.64 -0.76 -1.98 -8.59
2014 -7.66 -1.48 -1.57 -1.00 -1.68 3.49 1.28 3.16 16.25 -1.32 15.05 10.00 36.82
2013 3.26 -2.23 -0.98 2.31 -1.49 -3.32 -1.70 -1.91 -0.40 -0.50 -1.10 -1.53 -9.35
2012 0.05 0.95 -0.30 -0.04 -0.81 -0.12 -1.79 0.80 0.81 -3.05 -0.54 -0.66 -4.67
2011 0.03 -1.34 -2.37 5.25 -4.97 -1.09 0.98 2.61 -0.18 -0.74 -0.22 -0.08 -2.44
2010 -0.95 -0.50 0.90 1.36 5.76 2.94 0.65 -0.11 10.33
Note: Estimates appear in italics. All performance data is since program inception.
Strategy Description

The investment strategy employed is technical rather than fundamental in nature, i.e., it has been developed from analysis of patterns of actual monthly, weekly, and daily price movements and is not based on analysis of fundamental factors such as supply and demand, general economic conditions or anticipated world events. The Program relies on historical analysis of these price patterns to interpret current market behavior and to evaluate technical indicators for trade initiations and liquidations. The Program is trend-following in that initiations and liquidations of positions in a particular market are generally in the direction of the price trend in that market. WT employs an investment strategy which utilizes a blend of systems (or, in other words, a number of investment systems simultaneously). The strategy is diversified in that the Program follows over forty commodity interests. Although the specific commodity interests to be traded will vary from time to time, at the present time WT only trades futures contracts for its clients. Examples of commodities for which contracts are now traded by WT include precious and base metals, U.S. and foreign financial instruments, stock indices, foreign currencies, grains and grain products, energy products such as crude oil and soft commodities such as sugar and coffee. WT may add other commodity interests in the future. WT may engage in transactions in physical commodities commonly known as an “exchange for physical” or “EFP”. As discussed further “Risk Factors,” certain of the commodity interests traded by WT are traded on foreign exchanges and are subject to regulation by non-United States jurisdictions. The commodity interests typically traded have been chosen for, among other things, their historical performance and for their customary liquidity. WT believes that the development of a commodity interest investment strategy is a continual process. As a result of further analysis and research into the performance of WT’s methods, changes have been made from time to time in the specifics of WT’s methods, and it is likely that additional revisions will be made in the future. As a result of such modifications, the investment methods currently used by WT differ from those used in the past and may differ from those to be used in the future. If possible within existing market conditions, WT adheres to the requirements of a fully integrated risk management system which quantifies and limits the equity committed to each trade, each commodity interest and each group of commodity interests, and sets optimal stop-losses for each trade and each account. The level of liquidation determined by this risk management system can override liquidations determined by technical indicators.

Performance Statistics
Date Range: 04/10 - 07/17
  Program SP500 TR Altegris 40
Total Return 15.82% 146.71% 5.90%
Annualized Return 2.05% 13.10% 0.79%
Annualized Std. Deviation 12.49% 12.09% 8.63%
Correlation 0.06 0.52
Sharpe Ratio (rf=2.5%) -0.04 0.88 -0.20
Worst Month -7.66% -7.99% -5.20%
Date of Worst Month 01/2014 05/2010 06/2015
Worst Drawdown -27.54% -16.26% -15.74%
Date of Worst Drawdown 4/11 - 5/14 4/11 - 9/11 4/11 - 9/13
Note: Estimates appear in italics. All performance data is since program inception.
Annual Performance (%)
Date Range: 04/10 - 07/17
Year or YTD Program SP500 TR Altegris 40
2017 4.17 11.60 -3.53
2016 -4.43 11.98 -3.13
2015 -8.59 1.41 0.09
2014 36.82 13.69 15.75
2013 -9.35 32.41 -2.45
2012 -4.67 15.98 -4.75
2011 -2.44 2.12 -3.23
2010 10.33 7.49 7.14
Note: Estimates appear in italics. All performance data is since program inception.
Performance Comparison
Date Range: 04/10 - 07/17
Date: 7/31/2017
Perf: $1,042.98 Date: 6/30/2017
Perf: $1,038.93 Date: 5/31/2017
Perf: $1,070.18 Date: 4/30/2017
Perf: $1,068.15 Date: 3/31/2017
Perf: $1,074.60 Date: 2/28/2017
Perf: $1,090.52 Date: 1/31/2017
Perf: $1,067.25 Date: 12/31/2016
Perf: $1,081.20 Date: 11/30/2016
Perf: $1,073.04 Date: 10/31/2016
Perf: $1,084.98 Date: 9/30/2016
Perf: $1,113.71 Date: 8/31/2016
Perf: $1,128.27 Date: 7/31/2016
Perf: $1,159.46 Date: 6/30/2016
Perf: $1,147.75 Date: 5/31/2016
Perf: $1,100.96 Date: 4/30/2016
Perf: $1,120.57 Date: 3/31/2016
Perf: $1,149.42 Date: 2/29/2016
Perf: $1,183.38 Date: 1/31/2016
Perf: $1,154.97 Date: 12/31/2015
Perf: $1,116.13 Date: 11/30/2015
Perf: $1,142.40 Date: 10/31/2015
Perf: $1,104.73 Date: 9/30/2015
Perf: $1,124.30 Date: 8/31/2015
Perf: $1,100.42 Date: 7/31/2015
Perf: $1,119.79 Date: 6/30/2015
Perf: $1,077.65 Date: 5/31/2015
Perf: $1,136.76 Date: 4/30/2015
Perf: $1,145.01 Date: 3/31/2015
Perf: $1,190.98 Date: 2/28/2015
Perf: $1,165.23 Date: 1/31/2015
Perf: $1,167.10 Date: 12/31/2014
Perf: $1,115.13 Date: 11/30/2014
Perf: $1,095.84 Date: 10/31/2014
Perf: $1,034.30 Date: 9/30/2014
Perf: $1,019.32 Date: 8/31/2014
Perf: $1,004.35 Date: 7/31/2014
Perf: $963.59 Date: 6/30/2014
Perf: $971.36 Date: 5/31/2014
Perf: $963.08 Date: 4/30/2014
Perf: $939.04 Date: 3/31/2014
Perf: $931.96 Date: 2/28/2014
Perf: $945.96 Date: 1/31/2014
Perf: $938.27 Date: 12/31/2013
Perf: $963.41 Date: 11/30/2013
Perf: $964.76 Date: 10/31/2013
Perf: $947.61 Date: 9/30/2013
Perf: $926.40 Date: 8/31/2013
Perf: $931.99 Date: 7/31/2013
Perf: $950.23 Date: 6/30/2013
Perf: $958.57 Date: 5/31/2013
Perf: $996.33 Date: 4/30/2013
Perf: $1,041.10 Date: 3/31/2013
Perf: $1,014.92 Date: 2/28/2013
Perf: $1,000.51 Date: 1/31/2013
Perf: $1,006.34 Date: 12/31/2012
Perf: $987.58 Date: 11/30/2012
Perf: $982.77 Date: 10/31/2012
Perf: $980.02 Date: 9/30/2012
Perf: $1,016.83 Date: 8/31/2012
Perf: $1,033.89 Date: 7/31/2012
Perf: $1,048.14 Date: 6/30/2012
Perf: $1,006.96 Date: 5/31/2012
Perf: $1,046.30 Date: 4/30/2012
Perf: $1,026.79 Date: 3/31/2012
Perf: $1,020.67 Date: 2/29/2012
Perf: $1,044.38 Date: 1/31/2012
Perf: $1,040.11 Date: 12/31/2011
Perf: $1,036.79 Date: 11/30/2011
Perf: $1,026.93 Date: 10/31/2011
Perf: $1,023.86 Date: 9/30/2011
Perf: $1,066.08 Date: 8/31/2011
Perf: $1,066.72 Date: 7/31/2011
Perf: $1,068.86 Date: 6/30/2011
Perf: $1,031.81 Date: 5/31/2011
Perf: $1,059.36 Date: 4/30/2011
Perf: $1,099.49 Date: 3/31/2011
Perf: $1,058.22 Date: 2/28/2011
Perf: $1,074.66 Date: 1/31/2011
Perf: $1,056.70 Date: 12/31/2010
Perf: $1,071.38 Date: 11/30/2010
Perf: $1,027.30 Date: 10/31/2010
Perf: $1,065.01 Date: 9/30/2010
Perf: $1,025.23 Date: 8/31/2010
Perf: $1,006.90 Date: 7/31/2010
Perf: $966.87 Date: 6/30/2010
Perf: $979.51 Date: 5/31/2010
Perf: $975.80 Date: 4/30/2010
Perf: $1,000.00 Date: 7/31/2017
Perf: $2,428.71 Date: 6/30/2017
Perf: $2,379.69 Date: 5/31/2017
Perf: $2,365.03 Date: 4/30/2017
Perf: $2,332.14 Date: 3/31/2017
Perf: $2,308.37 Date: 2/28/2017
Perf: $2,305.60 Date: 1/31/2017
Perf: $2,217.56 Date: 12/31/2016
Perf: $2,176.21 Date: 11/30/2016
Perf: $2,133.96 Date: 10/31/2016
Perf: $2,057.82 Date: 9/30/2016
Perf: $2,095.97 Date: 8/31/2016
Perf: $2,095.55 Date: 7/31/2016
Perf: $2,092.62 Date: 6/30/2016
Perf: $2,018.15 Date: 5/31/2016
Perf: $2,012.92 Date: 4/30/2016
Perf: $1,977.32 Date: 3/31/2016
Perf: $1,969.64 Date: 2/29/2016
Perf: $1,844.58 Date: 1/31/2016
Perf: $1,846.98 Date: 12/31/2015
Perf: $1,943.37 Date: 11/30/2015
Perf: $1,974.57 Date: 10/31/2015
Perf: $1,968.67 Date: 9/30/2015
Perf: $1,815.44 Date: 8/31/2015
Perf: $1,861.42 Date: 7/31/2015
Perf: $1,980.87 Date: 6/30/2015
Perf: $1,940.12 Date: 5/31/2015
Perf: $1,978.51 Date: 4/30/2015
Perf: $1,953.31 Date: 3/31/2015
Perf: $1,934.73 Date: 2/28/2015
Perf: $1,965.79 Date: 1/31/2015
Perf: $1,858.91 Date: 12/31/2014
Perf: $1,916.40 Date: 11/30/2014
Perf: $1,921.20 Date: 10/31/2014
Perf: $1,870.88 Date: 9/30/2014
Perf: $1,826.31 Date: 8/31/2014
Perf: $1,852.24 Date: 7/31/2014
Perf: $1,781.00 Date: 6/30/2014
Perf: $1,805.93 Date: 5/31/2014
Perf: $1,769.30 Date: 4/30/2014
Perf: $1,728.68 Date: 3/31/2014
Perf: $1,715.98 Date: 2/28/2014
Perf: $1,701.69 Date: 1/31/2014
Perf: $1,627.32 Date: 12/31/2013
Perf: $1,685.64 Date: 11/30/2013
Perf: $1,644.05 Date: 10/31/2013
Perf: $1,595.39 Date: 9/30/2013
Perf: $1,525.23 Date: 8/31/2013
Perf: $1,478.79 Date: 7/31/2013
Perf: $1,522.96 Date: 6/30/2013
Perf: $1,449.19 Date: 5/31/2013
Perf: $1,468.88 Date: 4/30/2013
Perf: $1,435.29 Date: 3/31/2013
Perf: $1,408.11 Date: 2/28/2013
Perf: $1,357.22 Date: 1/31/2013
Perf: $1,339.01 Date: 12/31/2012
Perf: $1,273.06 Date: 11/30/2012
Perf: $1,261.58 Date: 10/31/2012
Perf: $1,254.31 Date: 9/30/2012
Perf: $1,277.95 Date: 8/31/2012
Perf: $1,245.81 Date: 7/31/2012
Perf: $1,218.39 Date: 6/30/2012
Perf: $1,201.69 Date: 5/31/2012
Perf: $1,154.14 Date: 4/30/2012
Perf: $1,227.94 Date: 3/31/2012
Perf: $1,235.72 Date: 2/29/2012
Perf: $1,196.36 Date: 1/31/2012
Perf: $1,146.82 Date: 12/31/2011
Perf: $1,097.65 Date: 11/30/2011
Perf: $1,086.56 Date: 10/31/2011
Perf: $1,088.96 Date: 9/30/2011
Perf: $981.66 Date: 8/31/2011
Perf: $1,055.89 Date: 7/31/2011
Perf: $1,116.52 Date: 6/30/2011
Perf: $1,139.66 Date: 5/31/2011
Perf: $1,159.01 Date: 4/30/2011
Perf: $1,172.26 Date: 3/31/2011
Perf: $1,138.56 Date: 2/28/2011
Perf: $1,138.10 Date: 1/31/2011
Perf: $1,100.36 Date: 12/31/2010
Perf: $1,074.88 Date: 11/30/2010
Perf: $1,007.58 Date: 10/31/2010
Perf: $1,007.48 Date: 9/30/2010
Perf: $970.50 Date: 8/31/2010
Perf: $891.02 Date: 7/31/2010
Perf: $933.10 Date: 6/30/2010
Perf: $871.98 Date: 5/31/2010
Perf: $920.10 Date: 4/30/2010
Perf: $1,000.00 Date: 7/31/2017
Perf: $1,158.23 Date: 6/30/2017
Perf: $1,128.44 Date: 5/31/2017
Perf: $1,165.50 Date: 4/30/2017
Perf: $1,132.66 Date: 3/31/2017
Perf: $1,117.79 Date: 2/28/2017
Perf: $1,121.94 Date: 1/31/2017
Perf: $1,085.15 Date: 12/31/2016
Perf: $1,111.84 Date: 11/30/2016
Perf: $1,121.37 Date: 10/31/2016
Perf: $1,098.09 Date: 9/30/2016
Perf: $1,122.22 Date: 8/31/2016
Perf: $1,146.41 Date: 7/31/2016
Perf: $1,180.65 Date: 6/30/2016
Perf: $1,134.15 Date: 5/31/2016
Perf: $1,104.97 Date: 4/30/2016
Perf: $1,154.99 Date: 3/31/2016
Perf: $1,133.78 Date: 2/29/2016
Perf: $1,175.88 Date: 1/31/2016
Perf: $1,160.45 Date: 12/31/2015
Perf: $1,163.35 Date: 11/30/2015
Perf: $1,186.85 Date: 10/31/2015
Perf: $1,195.94 Date: 9/30/2015
Perf: $1,203.65 Date: 8/31/2015
Perf: $1,212.25 Date: 7/31/2015
Perf: $1,201.44 Date: 6/30/2015
Perf: $1,182.40 Date: 5/31/2015
Perf: $1,215.96 Date: 4/30/2015
Perf: $1,226.39 Date: 3/31/2015
Perf: $1,282.30 Date: 2/28/2015
Perf: $1,313.02 Date: 1/31/2015
Perf: $1,384.90 Date: 12/31/2014
Perf: $1,272.65 Date: 11/30/2014
Perf: $1,156.95 Date: 10/31/2014
Perf: $1,005.61 Date: 9/30/2014
Perf: $1,019.06 Date: 8/31/2014
Perf: $876.61 Date: 7/31/2014
Perf: $849.76 Date: 6/30/2014
Perf: $839.02 Date: 5/31/2014
Perf: $810.73 Date: 4/30/2014
Perf: $824.58 Date: 3/31/2014
Perf: $832.91 Date: 2/28/2014
Perf: $846.19 Date: 1/31/2014
Perf: $858.91 Date: 12/31/2013
Perf: $930.16 Date: 11/30/2013
Perf: $944.61 Date: 10/31/2013
Perf: $955.11 Date: 9/30/2013
Perf: $959.91 Date: 8/31/2013
Perf: $963.77 Date: 7/31/2013
Perf: $982.53 Date: 6/30/2013
Perf: $999.53 Date: 5/31/2013
Perf: $1,033.85 Date: 4/30/2013
Perf: $1,049.49 Date: 3/31/2013
Perf: $1,025.79 Date: 2/28/2013
Perf: $1,035.94 Date: 1/31/2013
Perf: $1,059.57 Date: 12/31/2012
Perf: $1,026.12 Date: 11/30/2012
Perf: $1,032.94 Date: 10/31/2012
Perf: $1,038.55 Date: 9/30/2012
Perf: $1,071.22 Date: 8/31/2012
Perf: $1,062.61 Date: 7/31/2012
Perf: $1,054.18 Date: 6/30/2012
Perf: $1,073.39 Date: 5/31/2012
Perf: $1,074.68 Date: 4/30/2012
Perf: $1,083.46 Date: 3/31/2012
Perf: $1,083.89 Date: 2/29/2012
Perf: $1,087.15 Date: 1/31/2012
Perf: $1,076.92 Date: 12/31/2011
Perf: $1,076.38 Date: 11/30/2011
Perf: $1,077.25 Date: 10/31/2011
Perf: $1,079.62 Date: 9/30/2011
Perf: $1,087.67 Date: 8/31/2011
Perf: $1,089.63 Date: 7/31/2011
Perf: $1,061.92 Date: 6/30/2011
Perf: $1,051.61 Date: 5/31/2011
Perf: $1,063.20 Date: 4/30/2011
Perf: $1,118.80 Date: 3/31/2011
Perf: $1,063.00 Date: 2/28/2011
Perf: $1,088.80 Date: 1/31/2011
Perf: $1,103.59 Date: 12/31/2010
Perf: $1,103.26 Date: 11/30/2010
Perf: $1,104.47 Date: 10/31/2010
Perf: $1,097.34 Date: 9/30/2010
Perf: $1,066.00 Date: 8/31/2010
Perf: $1,007.94 Date: 7/31/2010
Perf: $994.42 Date: 6/30/2010
Perf: $985.55 Date: 5/31/2010
Perf: $990.50 Date: 4/30/2010
Perf: $1,000.00
Note: All performance data is since program inception.

Monthly Returns
Date Range: 04/10 - 07/17
Date: 7/31/2017
Return: 2.64 % Date: 6/30/2017
Return: -3.18 % Date: 5/31/2017
Return: 2.90 % Date: 4/30/2017
Return: 1.33 % Date: 3/31/2017
Return: -0.37 % Date: 2/28/2017
Return: 3.39 % Date: 1/31/2017
Return: -2.40 % Date: 12/31/2016
Return: -0.85 % Date: 11/30/2016
Return: 2.12 % Date: 10/31/2016
Return: -2.15 % Date: 9/30/2016
Return: -2.11 % Date: 8/31/2016
Return: -2.90 % Date: 7/31/2016
Return: 4.10 % Date: 6/30/2016
Return: 2.64 % Date: 5/31/2016
Return: -4.33 % Date: 4/30/2016
Return: 1.87 % Date: 3/31/2016
Return: -3.58 % Date: 2/29/2016
Return: 1.33 % Date: 1/31/2016
Return: -0.25 % Date: 12/31/2015
Return: -1.98 % Date: 11/30/2015
Return: -0.76 % Date: 10/31/2015
Return: -0.64 % Date: 9/30/2015
Return: -0.71 % Date: 8/31/2015
Return: 0.90 % Date: 7/31/2015
Return: 1.61 % Date: 6/30/2015
Return: -2.76 % Date: 5/31/2015
Return: -0.85 % Date: 4/30/2015
Return: -4.36 % Date: 3/31/2015
Return: -2.34 % Date: 2/28/2015
Return: -5.19 % Date: 1/31/2015
Return: 8.82 % Date: 12/31/2014
Return: 10.00 % Date: 11/30/2014
Return: 15.05 % Date: 10/31/2014
Return: -1.32 % Date: 9/30/2014
Return: 16.25 % Date: 8/31/2014
Return: 3.16 % Date: 7/31/2014
Return: 1.28 % Date: 6/30/2014
Return: 3.49 % Date: 5/31/2014
Return: -1.68 % Date: 4/30/2014
Return: -1.00 % Date: 3/31/2014
Return: -1.57 % Date: 2/28/2014
Return: -1.48 % Date: 1/31/2014
Return: -7.66 % Date: 12/31/2013
Return: -1.53 % Date: 11/30/2013
Return: -1.10 % Date: 10/31/2013
Return: -0.50 % Date: 9/30/2013
Return: -0.40 % Date: 8/31/2013
Return: -1.91 % Date: 7/31/2013
Return: -1.70 % Date: 6/30/2013
Return: -3.32 % Date: 5/31/2013
Return: -1.49 % Date: 4/30/2013
Return: 2.31 % Date: 3/31/2013
Return: -0.98 % Date: 2/28/2013
Return: -2.23 % Date: 1/31/2013
Return: 3.26 % Date: 12/31/2012
Return: -0.66 % Date: 11/30/2012
Return: -0.54 % Date: 10/31/2012
Return: -3.05 % Date: 9/30/2012
Return: 0.81 % Date: 8/31/2012
Return: 0.80 % Date: 7/31/2012
Return: -1.79 % Date: 6/30/2012
Return: -0.12 % Date: 5/31/2012
Return: -0.81 % Date: 4/30/2012
Return: -0.04 % Date: 3/31/2012
Return: -0.30 % Date: 2/29/2012
Return: 0.95 % Date: 1/31/2012
Return: 0.05 % Date: 12/31/2011
Return: -0.08 % Date: 11/30/2011
Return: -0.22 % Date: 10/31/2011
Return: -0.74 % Date: 9/30/2011
Return: -0.18 % Date: 8/31/2011
Return: 2.61 % Date: 7/31/2011
Return: 0.98 % Date: 6/30/2011
Return: -1.09 % Date: 5/31/2011
Return: -4.97 % Date: 4/30/2011
Return: 5.25 % Date: 3/31/2011
Return: -2.37 % Date: 2/28/2011
Return: -1.34 % Date: 1/31/2011
Return: 0.03 % Date: 12/31/2010
Return: -0.11 % Date: 11/30/2010
Return: 0.65 % Date: 10/31/2010
Return: 2.94 % Date: 9/30/2010
Return: 5.76 % Date: 8/31/2010
Return: 1.36 % Date: 7/31/2010
Return: 0.90 % Date: 6/30/2010
Return: -0.50 % Date: 5/31/2010
Return: -0.95 % Date: 4/30/2010
Return: 0.00 %
Note: All performance data is since program inception.

Distribution of Monthly Returns
Date Range: 04/10 - 07/17
Return: 4.00 %
Count: 1 Return: -4.00 %
Count: 3 Return: 9.00 %
Count: 1 Return: 10.00 %
Count: 1 Return: 15.00 %
Count: 1 Return: 16.00 %
Count: 1 Return: -8.00 %
Count: 1 Return: 2.00 %
Count: 4 Return: -3.00 %
Count: 5 Return: -5.00 %
Count: 2 Return: 5.00 %
Count: 1 Return: -2.00 %
Count: 13 Return: 3.00 %
Count: 9 Return: 6.00 %
Count: 1 Return: 1.00 %
Count: 11 Return: -1.00 %
Count: 19 Return: 0.00 %
Count: 14
Note: All performance data is since program inception.

Underwater Curve
Date Range: 04/10 - 07/17
Date: 7/31/2017
Drawdown: -16.37 % Date: 6/30/2017
Drawdown: -18.52 % Date: 5/31/2017
Drawdown: -15.84 % Date: 4/30/2017
Drawdown: -18.21 % Date: 3/31/2017
Drawdown: -19.29 % Date: 2/28/2017
Drawdown: -18.99 % Date: 1/31/2017
Drawdown: -21.64 % Date: 12/31/2016
Drawdown: -19.72 % Date: 11/30/2016
Drawdown: -19.03 % Date: 10/31/2016
Drawdown: -20.71 % Date: 9/30/2016
Drawdown: -18.97 % Date: 8/31/2016
Drawdown: -17.22 % Date: 7/31/2016
Drawdown: -14.75 % Date: 6/30/2016
Drawdown: -18.11 % Date: 5/31/2016
Drawdown: -20.21 % Date: 4/30/2016
Drawdown: -16.60 % Date: 3/31/2016
Drawdown: -18.13 % Date: 2/29/2016
Drawdown: -15.09 % Date: 1/31/2016
Drawdown: -16.21 % Date: 12/31/2015
Drawdown: -16.00 % Date: 11/30/2015
Drawdown: -14.30 % Date: 10/31/2015
Drawdown: -13.64 % Date: 9/30/2015
Drawdown: -13.09 % Date: 8/31/2015
Drawdown: -12.47 % Date: 7/31/2015
Drawdown: -13.25 % Date: 6/30/2015
Drawdown: -14.62 % Date: 5/31/2015
Drawdown: -12.20 % Date: 4/30/2015
Drawdown: -11.45 % Date: 3/31/2015
Drawdown: -7.41 % Date: 2/28/2015
Drawdown: -5.19 % 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: -10.12 % Date: 9/30/2014
Drawdown: -8.91 % Date: 8/31/2014
Drawdown: -21.65 % Date: 7/31/2014
Drawdown: -24.05 % Date: 6/30/2014
Drawdown: -25.01 % Date: 5/31/2014
Drawdown: -27.54 % Date: 4/30/2014
Drawdown: -26.30 % Date: 3/31/2014
Drawdown: -25.55 % Date: 2/28/2014
Drawdown: -24.37 % Date: 1/31/2014
Drawdown: -23.23 % Date: 12/31/2013
Drawdown: -16.86 % Date: 11/30/2013
Drawdown: -15.57 % Date: 10/31/2013
Drawdown: -14.63 % Date: 9/30/2013
Drawdown: -14.20 % Date: 8/31/2013
Drawdown: -13.86 % Date: 7/31/2013
Drawdown: -12.18 % Date: 6/30/2013
Drawdown: -10.66 % Date: 5/31/2013
Drawdown: -7.59 % Date: 4/30/2013
Drawdown: -6.20 % Date: 3/31/2013
Drawdown: -8.31 % Date: 2/28/2013
Drawdown: -7.41 % Date: 1/31/2013
Drawdown: -5.29 % Date: 12/31/2012
Drawdown: -8.28 % Date: 11/30/2012
Drawdown: -7.67 % Date: 10/31/2012
Drawdown: -7.17 % Date: 9/30/2012
Drawdown: -4.25 % Date: 8/31/2012
Drawdown: -5.02 % Date: 7/31/2012
Drawdown: -5.78 % Date: 6/30/2012
Drawdown: -4.06 % Date: 5/31/2012
Drawdown: -3.94 % Date: 4/30/2012
Drawdown: -3.16 % Date: 3/31/2012
Drawdown: -3.12 % Date: 2/29/2012
Drawdown: -2.83 % Date: 1/31/2012
Drawdown: -3.74 % Date: 12/31/2011
Drawdown: -3.79 % Date: 11/30/2011
Drawdown: -3.71 % Date: 10/31/2011
Drawdown: -3.50 % Date: 9/30/2011
Drawdown: -2.78 % Date: 8/31/2011
Drawdown: -2.61 % Date: 7/31/2011
Drawdown: -5.08 % Date: 6/30/2011
Drawdown: -6.01 % Date: 5/31/2011
Drawdown: -4.97 % Date: 4/30/2011
Drawdown: 0.00 % Date: 3/31/2011
Drawdown: -3.76 % Date: 2/28/2011
Drawdown: -1.42 % Date: 1/31/2011
Drawdown: -0.08 % Date: 12/31/2010
Drawdown: -0.11 % Date: 11/30/2010
Drawdown: 0.00 % Date: 10/31/2010
Drawdown: 0.00 % Date: 9/30/2010
Drawdown: 0.00 % Date: 8/31/2010
Drawdown: 0.00 % Date: 7/31/2010
Drawdown: -0.56 % Date: 6/30/2010
Drawdown: -1.45 % Date: 5/31/2010
Drawdown: -0.95 %
Note: All performance data is since program inception.
Notes to Performance

Manager Information
Manager Name:  Westphal Trading
Address: 211 S. Cochrans Grn. Cir.
City: The Woodlands
State: TX
Zip: 77381
Country: USA
Key People
Name:  Andrew Westphal
Position:  Chief Executive Officer
Biography: 

Mr. Westphal is a British Citizen who moved to the United States in December 2009 on an Entrepreneur Visa. Mr Westphal has been trading in the financial markets since 1984. Since November 1998 Mr Westphal has been the CEO of Westphal Trading Ltd (United Kingdom) where he has been investing in both real estate and futures trading. From July 1997 to October 1998 Mr. Westphal was a Commodity Trader for Manro Haydan, London a proprietary commodity trading company. From October 1996 to June 1997, Mr. Westphal was an Associated Person and Trading Principal of Marshall Hill, a CTA where he managed client accounts. From March 1992 to October 1996 Mr Westphal was a Vice President and an Associated Person of Winchester Asset Management, a CTA where he managed client accounts. From November 1989 through to June 1992 Mr. Westphal was a co-founder and Director of FX24, a foreign exchange consultancy firm. From April 1989 through June 1991 Mr. Westphal was the Senior Proprietary Trader for the State bank of South Australia London. From April 1987 through April 1989 Mr. Westphal was a Senior Foreign Exchange Trader for the National Bank of Canada, London. From January 1986 through April 1987 Mr. Westphal was a Foreign Exchange Trader for First National Bank of Boston, London. From January 1984 until January 1986 Mr. Westphal was a Foreign Exchange Trader for Sanwa Bank, London. Mr. Westphal attended the United Kingdom's Open University between 2002 and 2007. There he attained a Bachelor of Science Honours Degree in Economics and Business and University Certificates in Mathematics, Computing and ICT.


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.