Altegris Clearing Solutions The Cambridge Strategy Asset Management Ltd. Emerging Markets Currency Alpha (Program)*FX* *QEP*
Monthly Performance (%)
Date Range: 01/08 - 02/17
  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
2017 0.31 3.40 3.72
2016 1.05 1.56 3.14 0.52 -0.24 -0.67 -1.47 -2.13 -1.28 3.21 -3.02 -3.66 -3.21
2015 2.06 1.06 0.58 0.95 -0.90 -1.46 2.49 1.95 -0.16 -3.63 4.36 0.57 7.91
2014 -0.78 -1.10 0.87 0.35 2.84 -2.99 2.04 3.52 8.53 -1.73 1.20 3.36 16.78
2013 0.55 0.02 2.24 -1.98 2.41 -3.24 -1.65 -2.54 -3.78 2.24 4.70 1.12 -0.30
2012 1.51 0.24 -1.27 0.79 6.53 -4.30 -0.82 0.87 2.96 -0.27 -0.38 1.69 7.43
2011 -1.06 0.06 -0.95 5.26 -4.18 -0.13 4.12 -1.28 -1.34 1.74 1.44 6.83 10.44
2010 1.69 1.75 6.49 0.50 -1.61 -2.42 0.03 -0.68 1.11 -2.19 -3.24 2.15 3.25
2009 3.26 1.03 3.13 2.92 1.11 1.05 0.75 -0.28 -0.13 2.14 3.82 -0.07 20.29
2008 0.82 0.28 0.59 -1.31 0.30 1.38 -0.45 0.04 1.63 0.59 -0.07 3.83
Note: Estimates appear in italics. All performance data is since program inception.
Strategy Description

The Emerging Markets Currency Alpha Program aims to profit from short and medium term moves in the developing markets’ currency pairs. Depending on market conditions and volatility, we combine fundamental, technical and/or discretionary investment styles. Risk management is central to the firm’s culture and an integral part of the investment process. We have developed unique methods for managing volatility and “left side” tail that are grounded in Extreme Value Theory.

Performance Statistics
Date Range: 01/08 - 02/17
  Program SP500 TR Altegris 40
Total Return 92.96% 96.63% 20.40%
Annualized Return 7.50% 7.65% 2.05%
Annualized Std. Deviation 8.22% 15.64% 9.04%
Correlation 0.04 0.30
Sharpe Ratio (rf=2.5%) 0.61 0.33 -0.05
Worst Month -4.30% -16.79% -5.20%
Date of Worst Month 06/2012 10/2008 06/2015
Worst Drawdown -10.76% -48.45% -15.74%
Date of Worst Drawdown 5/13 - 9/13 5/08 - 2/09 4/11 - 9/13
Note: Estimates appear in italics. All performance data is since program inception.
Annual Performance (%)
Date Range: 01/08 - 02/17
Year or YTD Program SP500 TR Altegris 40
2017 3.72 5.95 0.86
2016 -3.21 11.98 -3.13
2015 7.91 1.41 0.09
2014 16.78 13.69 15.75
2013 -0.30 32.41 -2.45
2012 7.43 15.98 -4.75
2011 10.44 2.12 -3.23
2010 3.25 15.06 11.33
2009 20.29 26.45 -7.98
2008 3.83 -32.97 13.40
Note: Estimates appear in italics. All performance data is since program inception.
Performance Comparison
Date Range: 01/08 - 02/17
Date: 2/28/2017
Perf: $1,182.52 Date: 1/31/2017
Perf: $1,157.30 Date: 12/31/2016
Perf: $1,172.42 Date: 11/30/2016
Perf: $1,163.58 Date: 10/31/2016
Perf: $1,176.52 Date: 9/30/2016
Perf: $1,207.68 Date: 8/31/2016
Perf: $1,223.46 Date: 7/31/2016
Perf: $1,257.28 Date: 6/30/2016
Perf: $1,244.59 Date: 5/31/2016
Perf: $1,193.85 Date: 4/30/2016
Perf: $1,215.11 Date: 3/31/2016
Perf: $1,246.40 Date: 2/29/2016
Perf: $1,283.22 Date: 1/31/2016
Perf: $1,252.41 Date: 12/31/2015
Perf: $1,210.30 Date: 11/30/2015
Perf: $1,238.79 Date: 10/31/2015
Perf: $1,197.94 Date: 9/30/2015
Perf: $1,219.15 Date: 8/31/2015
Perf: $1,193.26 Date: 7/31/2015
Perf: $1,214.27 Date: 6/30/2015
Perf: $1,168.57 Date: 5/31/2015
Perf: $1,232.67 Date: 4/30/2015
Perf: $1,241.61 Date: 3/31/2015
Perf: $1,291.46 Date: 2/28/2015
Perf: $1,263.54 Date: 1/31/2015
Perf: $1,265.56 Date: 12/31/2014
Perf: $1,209.21 Date: 11/30/2014
Perf: $1,188.30 Date: 10/31/2014
Perf: $1,121.57 Date: 9/30/2014
Perf: $1,105.32 Date: 8/31/2014
Perf: $1,089.09 Date: 7/31/2014
Perf: $1,044.89 Date: 6/30/2014
Perf: $1,053.32 Date: 5/31/2014
Perf: $1,044.34 Date: 4/30/2014
Perf: $1,018.27 Date: 3/31/2014
Perf: $1,010.59 Date: 2/28/2014
Perf: $1,025.77 Date: 1/31/2014
Perf: $1,017.43 Date: 12/31/2013
Perf: $1,044.69 Date: 11/30/2013
Perf: $1,046.16 Date: 10/31/2013
Perf: $1,027.56 Date: 9/30/2013
Perf: $1,004.56 Date: 8/31/2013
Perf: $1,010.62 Date: 7/31/2013
Perf: $1,030.40 Date: 6/30/2013
Perf: $1,039.45 Date: 5/31/2013
Perf: $1,080.39 Date: 4/30/2013
Perf: $1,128.94 Date: 3/31/2013
Perf: $1,100.54 Date: 2/28/2013
Perf: $1,084.92 Date: 1/31/2013
Perf: $1,091.25 Date: 12/31/2012
Perf: $1,070.90 Date: 11/30/2012
Perf: $1,065.68 Date: 10/31/2012
Perf: $1,062.71 Date: 9/30/2012
Perf: $1,102.62 Date: 8/31/2012
Perf: $1,121.12 Date: 7/31/2012
Perf: $1,136.58 Date: 6/30/2012
Perf: $1,091.92 Date: 5/31/2012
Perf: $1,134.58 Date: 4/30/2012
Perf: $1,113.42 Date: 3/31/2012
Perf: $1,106.78 Date: 2/29/2012
Perf: $1,132.49 Date: 1/31/2012
Perf: $1,127.86 Date: 12/31/2011
Perf: $1,124.27 Date: 11/30/2011
Perf: $1,113.58 Date: 10/31/2011
Perf: $1,110.25 Date: 9/30/2011
Perf: $1,156.02 Date: 8/31/2011
Perf: $1,156.72 Date: 7/31/2011
Perf: $1,159.04 Date: 6/30/2011
Perf: $1,118.87 Date: 5/31/2011
Perf: $1,148.74 Date: 4/30/2011
Perf: $1,192.25 Date: 3/31/2011
Perf: $1,147.50 Date: 2/28/2011
Perf: $1,165.33 Date: 1/31/2011
Perf: $1,145.85 Date: 12/31/2010
Perf: $1,161.77 Date: 11/30/2010
Perf: $1,113.98 Date: 10/31/2010
Perf: $1,154.86 Date: 9/30/2010
Perf: $1,111.72 Date: 8/31/2010
Perf: $1,091.85 Date: 7/31/2010
Perf: $1,048.45 Date: 6/30/2010
Perf: $1,062.15 Date: 5/31/2010
Perf: $1,058.13 Date: 4/30/2010
Perf: $1,084.37 Date: 3/31/2010
Perf: $1,067.92 Date: 2/28/2010
Perf: $1,027.15 Date: 1/31/2010
Perf: $1,017.58 Date: 12/31/2009
Perf: $1,043.57 Date: 11/30/2009
Perf: $1,087.05 Date: 10/31/2009
Perf: $1,044.94 Date: 9/30/2009
Perf: $1,072.39 Date: 8/31/2009
Perf: $1,047.46 Date: 7/31/2009
Perf: $1,044.02 Date: 6/30/2009
Perf: $1,045.16 Date: 5/31/2009
Perf: $1,073.73 Date: 4/30/2009
Perf: $1,059.11 Date: 3/31/2009
Perf: $1,094.91 Date: 2/28/2009
Perf: $1,126.11 Date: 1/31/2009
Perf: $1,126.67 Date: 12/31/2008
Perf: $1,134.04 Date: 11/30/2008
Perf: $1,105.63 Date: 10/31/2008
Perf: $1,066.49 Date: 9/30/2008
Perf: $1,014.25 Date: 8/31/2008
Perf: $1,012.13 Date: 7/31/2008
Perf: $1,039.89 Date: 6/30/2008
Perf: $1,089.92 Date: 5/31/2008
Perf: $1,061.58 Date: 4/30/2008
Perf: $1,040.15 Date: 3/31/2008
Perf: $1,052.25 Date: 2/29/2008
Perf: $1,056.90 Date: 1/31/2008
Perf: $1,000.00 Date: 2/28/2017
Perf: $2,091.78 Date: 1/31/2017
Perf: $2,011.90 Date: 12/31/2016
Perf: $1,974.39 Date: 11/30/2016
Perf: $1,936.06 Date: 10/31/2016
Perf: $1,866.98 Date: 9/30/2016
Perf: $1,901.59 Date: 8/31/2016
Perf: $1,901.21 Date: 7/31/2016
Perf: $1,898.55 Date: 6/30/2016
Perf: $1,830.99 Date: 5/31/2016
Perf: $1,826.24 Date: 4/30/2016
Perf: $1,793.95 Date: 3/31/2016
Perf: $1,786.98 Date: 2/29/2016
Perf: $1,673.51 Date: 1/31/2016
Perf: $1,675.69 Date: 12/31/2015
Perf: $1,763.14 Date: 11/30/2015
Perf: $1,791.45 Date: 10/31/2015
Perf: $1,786.09 Date: 9/30/2015
Perf: $1,647.08 Date: 8/31/2015
Perf: $1,688.79 Date: 7/31/2015
Perf: $1,797.16 Date: 6/30/2015
Perf: $1,760.20 Date: 5/31/2015
Perf: $1,795.02 Date: 4/30/2015
Perf: $1,772.16 Date: 3/31/2015
Perf: $1,755.31 Date: 2/28/2015
Perf: $1,783.49 Date: 1/31/2015
Perf: $1,686.51 Date: 12/31/2014
Perf: $1,738.67 Date: 11/30/2014
Perf: $1,743.03 Date: 10/31/2014
Perf: $1,697.37 Date: 9/30/2014
Perf: $1,656.94 Date: 8/31/2014
Perf: $1,680.47 Date: 7/31/2014
Perf: $1,615.83 Date: 6/30/2014
Perf: $1,638.44 Date: 5/31/2014
Perf: $1,605.22 Date: 4/30/2014
Perf: $1,568.36 Date: 3/31/2014
Perf: $1,556.84 Date: 2/28/2014
Perf: $1,543.87 Date: 1/31/2014
Perf: $1,476.40 Date: 12/31/2013
Perf: $1,529.31 Date: 11/30/2013
Perf: $1,491.58 Date: 10/31/2013
Perf: $1,447.43 Date: 9/30/2013
Perf: $1,383.78 Date: 8/31/2013
Perf: $1,341.65 Date: 7/31/2013
Perf: $1,381.72 Date: 6/30/2013
Perf: $1,314.80 Date: 5/31/2013
Perf: $1,332.65 Date: 4/30/2013
Perf: $1,302.18 Date: 3/31/2013
Perf: $1,277.53 Date: 2/28/2013
Perf: $1,231.35 Date: 1/31/2013
Perf: $1,214.83 Date: 12/31/2012
Perf: $1,155.00 Date: 11/30/2012
Perf: $1,144.58 Date: 10/31/2012
Perf: $1,137.98 Date: 9/30/2012
Perf: $1,159.43 Date: 8/31/2012
Perf: $1,130.27 Date: 7/31/2012
Perf: $1,105.40 Date: 6/30/2012
Perf: $1,090.25 Date: 5/31/2012
Perf: $1,047.11 Date: 4/30/2012
Perf: $1,114.06 Date: 3/31/2012
Perf: $1,121.12 Date: 2/29/2012
Perf: $1,085.41 Date: 1/31/2012
Perf: $1,040.46 Date: 12/31/2011
Perf: $995.85 Date: 11/30/2011
Perf: $985.80 Date: 10/31/2011
Perf: $987.97 Date: 9/30/2011
Perf: $890.62 Date: 8/31/2011
Perf: $957.97 Date: 7/31/2011
Perf: $1,012.97 Date: 6/30/2011
Perf: $1,033.96 Date: 5/31/2011
Perf: $1,051.52 Date: 4/30/2011
Perf: $1,063.54 Date: 3/31/2011
Perf: $1,032.97 Date: 2/28/2011
Perf: $1,032.55 Date: 1/31/2011
Perf: $998.31 Date: 12/31/2010
Perf: $975.20 Date: 11/30/2010
Perf: $914.13 Date: 10/31/2010
Perf: $914.04 Date: 9/30/2010
Perf: $880.50 Date: 8/31/2010
Perf: $808.39 Date: 7/31/2010
Perf: $846.57 Date: 6/30/2010
Perf: $791.11 Date: 5/31/2010
Perf: $834.77 Date: 4/30/2010
Perf: $907.26 Date: 3/31/2010
Perf: $893.15 Date: 2/28/2010
Perf: $842.35 Date: 1/31/2010
Perf: $817.03 Date: 12/31/2009
Perf: $847.54 Date: 11/30/2009
Perf: $831.49 Date: 10/31/2009
Perf: $784.42 Date: 9/30/2009
Perf: $799.29 Date: 8/31/2009
Perf: $770.55 Date: 7/31/2009
Perf: $743.70 Date: 6/30/2009
Perf: $691.43 Date: 5/31/2009
Perf: $690.05 Date: 4/30/2009
Perf: $653.52 Date: 3/31/2009
Perf: $596.44 Date: 2/28/2009
Perf: $548.40 Date: 1/31/2009
Perf: $613.77 Date: 12/31/2008
Perf: $670.27 Date: 11/30/2008
Perf: $663.24 Date: 10/31/2008
Perf: $714.54 Date: 9/30/2008
Perf: $858.72 Date: 8/31/2008
Perf: $942.72 Date: 7/31/2008
Perf: $929.24 Date: 6/30/2008
Perf: $937.12 Date: 5/31/2008
Perf: $1,023.39 Date: 4/30/2008
Perf: $1,010.25 Date: 3/31/2008
Perf: $963.34 Date: 2/29/2008
Perf: $967.50 Date: 1/31/2008
Perf: $1,000.00 Date: 2/28/2017
Perf: $1,929.56 Date: 1/31/2017
Perf: $1,866.11 Date: 12/31/2016
Perf: $1,860.35 Date: 11/30/2016
Perf: $1,931.02 Date: 10/31/2016
Perf: $1,991.15 Date: 9/30/2016
Perf: $1,929.23 Date: 8/31/2016
Perf: $1,954.24 Date: 7/31/2016
Perf: $1,996.77 Date: 6/30/2016
Perf: $2,026.56 Date: 5/31/2016
Perf: $2,040.23 Date: 4/30/2016
Perf: $2,045.14 Date: 3/31/2016
Perf: $2,034.56 Date: 2/29/2016
Perf: $1,972.62 Date: 1/31/2016
Perf: $1,942.32 Date: 12/31/2015
Perf: $1,922.14 Date: 11/30/2015
Perf: $1,911.24 Date: 10/31/2015
Perf: $1,831.39 Date: 9/30/2015
Perf: $1,900.38 Date: 8/31/2015
Perf: $1,903.42 Date: 7/31/2015
Perf: $1,867.02 Date: 6/30/2015
Perf: $1,821.66 Date: 5/31/2015
Perf: $1,848.65 Date: 4/30/2015
Perf: $1,865.44 Date: 3/31/2015
Perf: $1,847.88 Date: 2/28/2015
Perf: $1,837.23 Date: 1/31/2015
Perf: $1,817.96 Date: 12/31/2014
Perf: $1,781.26 Date: 11/30/2014
Perf: $1,723.36 Date: 10/31/2014
Perf: $1,702.92 Date: 9/30/2014
Perf: $1,732.90 Date: 8/31/2014
Perf: $1,596.70 Date: 7/31/2014
Perf: $1,542.41 Date: 6/30/2014
Perf: $1,511.57 Date: 5/31/2014
Perf: $1,558.16 Date: 4/30/2014
Perf: $1,515.13 Date: 3/31/2014
Perf: $1,509.85 Date: 2/28/2014
Perf: $1,496.83 Date: 1/31/2014
Perf: $1,513.47 Date: 12/31/2013
Perf: $1,525.37 Date: 11/30/2013
Perf: $1,508.48 Date: 10/31/2013
Perf: $1,440.76 Date: 9/30/2013
Perf: $1,409.19 Date: 8/31/2013
Perf: $1,464.55 Date: 7/31/2013
Perf: $1,502.72 Date: 6/30/2013
Perf: $1,527.94 Date: 5/31/2013
Perf: $1,579.10 Date: 4/30/2013
Perf: $1,541.94 Date: 3/31/2013
Perf: $1,573.08 Date: 2/28/2013
Perf: $1,538.62 Date: 1/31/2013
Perf: $1,538.31 Date: 12/31/2012
Perf: $1,529.90 Date: 11/30/2012
Perf: $1,504.47 Date: 10/31/2012
Perf: $1,510.21 Date: 9/30/2012
Perf: $1,514.30 Date: 8/31/2012
Perf: $1,470.76 Date: 7/31/2012
Perf: $1,458.08 Date: 6/30/2012
Perf: $1,470.13 Date: 5/31/2012
Perf: $1,536.19 Date: 4/30/2012
Perf: $1,442.03 Date: 3/31/2012
Perf: $1,430.72 Date: 2/29/2012
Perf: $1,449.13 Date: 1/31/2012
Perf: $1,445.66 Date: 12/31/2011
Perf: $1,424.15 Date: 11/30/2011
Perf: $1,333.10 Date: 10/31/2011
Perf: $1,314.18 Date: 9/30/2011
Perf: $1,291.70 Date: 8/31/2011
Perf: $1,309.25 Date: 7/31/2011
Perf: $1,326.22 Date: 6/30/2011
Perf: $1,273.74 Date: 5/31/2011
Perf: $1,275.40 Date: 4/30/2011
Perf: $1,331.04 Date: 3/31/2011
Perf: $1,264.52 Date: 2/28/2011
Perf: $1,276.65 Date: 1/31/2011
Perf: $1,275.89 Date: 12/31/2010
Perf: $1,289.56 Date: 11/30/2010
Perf: $1,262.42 Date: 10/31/2010
Perf: $1,304.69 Date: 9/30/2010
Perf: $1,333.90 Date: 8/31/2010
Perf: $1,319.26 Date: 7/31/2010
Perf: $1,328.29 Date: 6/30/2010
Perf: $1,327.89 Date: 5/31/2010
Perf: $1,360.82 Date: 4/30/2010
Perf: $1,383.09 Date: 3/31/2010
Perf: $1,376.21 Date: 2/28/2010
Perf: $1,292.34 Date: 1/31/2010
Perf: $1,270.11 Date: 12/31/2009
Perf: $1,249.00 Date: 11/30/2009
Perf: $1,249.88 Date: 10/31/2009
Perf: $1,203.89 Date: 9/30/2009
Perf: $1,178.66 Date: 8/31/2009
Perf: $1,180.20 Date: 7/31/2009
Perf: $1,183.51 Date: 6/30/2009
Perf: $1,174.70 Date: 5/31/2009
Perf: $1,162.50 Date: 4/30/2009
Perf: $1,149.73 Date: 3/31/2009
Perf: $1,117.11 Date: 2/28/2009
Perf: $1,083.21 Date: 1/31/2009
Perf: $1,072.17 Date: 12/31/2008
Perf: $1,038.32 Date: 11/30/2008
Perf: $1,039.04 Date: 10/31/2008
Perf: $1,032.95 Date: 9/30/2008
Perf: $1,016.38 Date: 8/31/2008
Perf: $1,015.98 Date: 7/31/2008
Perf: $1,020.57 Date: 6/30/2008
Perf: $1,006.68 Date: 5/31/2008
Perf: $1,003.67 Date: 4/30/2008
Perf: $1,016.99 Date: 3/31/2008
Perf: $1,011.02 Date: 2/29/2008
Perf: $1,008.20 Date: 1/31/2008
Perf: $1,000.00
Note: All performance data is since program inception.

Monthly Returns
Date Range: 01/08 - 02/17
Date: 2/28/2017
Return: 3.40 % Date: 1/31/2017
Return: 0.31 % Date: 12/31/2016
Return: -3.66 % Date: 11/30/2016
Return: -3.02 % Date: 10/31/2016
Return: 3.21 % Date: 9/30/2016
Return: -1.28 % Date: 8/31/2016
Return: -2.13 % Date: 7/31/2016
Return: -1.47 % Date: 6/30/2016
Return: -0.67 % Date: 5/31/2016
Return: -0.24 % Date: 4/30/2016
Return: 0.52 % Date: 3/31/2016
Return: 3.14 % Date: 2/29/2016
Return: 1.56 % Date: 1/31/2016
Return: 1.05 % Date: 12/31/2015
Return: 0.57 % Date: 11/30/2015
Return: 4.36 % Date: 10/31/2015
Return: -3.63 % Date: 9/30/2015
Return: -0.16 % Date: 8/31/2015
Return: 1.95 % Date: 7/31/2015
Return: 2.49 % Date: 6/30/2015
Return: -1.46 % Date: 5/31/2015
Return: -0.90 % Date: 4/30/2015
Return: 0.95 % Date: 3/31/2015
Return: 0.58 % Date: 2/28/2015
Return: 1.06 % Date: 1/31/2015
Return: 2.06 % Date: 12/31/2014
Return: 3.36 % Date: 11/30/2014
Return: 1.20 % Date: 10/31/2014
Return: -1.73 % Date: 9/30/2014
Return: 8.53 % Date: 8/31/2014
Return: 3.52 % Date: 7/31/2014
Return: 2.04 % Date: 6/30/2014
Return: -2.99 % Date: 5/31/2014
Return: 2.84 % Date: 4/30/2014
Return: 0.35 % Date: 3/31/2014
Return: 0.87 % Date: 2/28/2014
Return: -1.10 % Date: 1/31/2014
Return: -0.78 % Date: 12/31/2013
Return: 1.12 % Date: 11/30/2013
Return: 4.70 % Date: 10/31/2013
Return: 2.24 % Date: 9/30/2013
Return: -3.78 % Date: 8/31/2013
Return: -2.54 % Date: 7/31/2013
Return: -1.65 % Date: 6/30/2013
Return: -3.24 % Date: 5/31/2013
Return: 2.41 % Date: 4/30/2013
Return: -1.98 % Date: 3/31/2013
Return: 2.24 % Date: 2/28/2013
Return: 0.02 % Date: 1/31/2013
Return: 0.55 % Date: 12/31/2012
Return: 1.69 % Date: 11/30/2012
Return: -0.38 % Date: 10/31/2012
Return: -0.27 % Date: 9/30/2012
Return: 2.96 % Date: 8/31/2012
Return: 0.87 % Date: 7/31/2012
Return: -0.82 % Date: 6/30/2012
Return: -4.30 % Date: 5/31/2012
Return: 6.53 % Date: 4/30/2012
Return: 0.79 % Date: 3/31/2012
Return: -1.27 % Date: 2/29/2012
Return: 0.24 % Date: 1/31/2012
Return: 1.51 % Date: 12/31/2011
Return: 6.83 % Date: 11/30/2011
Return: 1.44 % Date: 10/31/2011
Return: 1.74 % Date: 9/30/2011
Return: -1.34 % Date: 8/31/2011
Return: -1.28 % Date: 7/31/2011
Return: 4.12 % Date: 6/30/2011
Return: -0.13 % Date: 5/31/2011
Return: -4.18 % Date: 4/30/2011
Return: 5.26 % Date: 3/31/2011
Return: -0.95 % Date: 2/28/2011
Return: 0.06 % Date: 1/31/2011
Return: -1.06 % Date: 12/31/2010
Return: 2.15 % Date: 11/30/2010
Return: -3.24 % Date: 10/31/2010
Return: -2.19 % Date: 9/30/2010
Return: 1.11 % Date: 8/31/2010
Return: -0.68 % Date: 7/31/2010
Return: 0.03 % Date: 6/30/2010
Return: -2.42 % Date: 5/31/2010
Return: -1.61 % Date: 4/30/2010
Return: 0.50 % Date: 3/31/2010
Return: 6.49 % Date: 2/28/2010
Return: 1.75 % Date: 1/31/2010
Return: 1.69 % Date: 12/31/2009
Return: -0.07 % Date: 11/30/2009
Return: 3.82 % Date: 10/31/2009
Return: 2.14 % Date: 9/30/2009
Return: -0.13 % Date: 8/31/2009
Return: -0.28 % Date: 7/31/2009
Return: 0.75 % Date: 6/30/2009
Return: 1.05 % Date: 5/31/2009
Return: 1.11 % Date: 4/30/2009
Return: 2.92 % Date: 3/31/2009
Return: 3.13 % Date: 2/28/2009
Return: 1.03 % Date: 1/31/2009
Return: 3.26 % Date: 12/31/2008
Return: -0.07 % Date: 11/30/2008
Return: 0.59 % Date: 10/31/2008
Return: 1.63 % Date: 9/30/2008
Return: 0.04 % Date: 8/31/2008
Return: -0.45 % Date: 7/31/2008
Return: 1.38 % Date: 6/30/2008
Return: 0.30 % Date: 5/31/2008
Return: -1.31 % Date: 4/30/2008
Return: 0.59 % Date: 3/31/2008
Return: 0.28 % Date: 2/29/2008
Return: 0.82 % Date: 1/31/2008
Return: 0.00 %
Note: All performance data is since program inception.

Distribution of Monthly Returns
Date Range: 01/08 - 02/17
Return: 9.00 %
Count: 1 Return: 7.00 %
Count: 2 Return: -4.00 %
Count: 5 Return: 5.00 %
Count: 2 Return: -3.00 %
Count: 5 Return: -2.00 %
Count: 7 Return: 6.00 %
Count: 1 Return: 4.00 %
Count: 4 Return: 3.00 %
Count: 9 Return: 2.00 %
Count: 16 Return: -1.00 %
Count: 15 Return: 1.00 %
Count: 23 Return: 0.00 %
Count: 20
Note: All performance data is since program inception.

Underwater Curve
Date Range: 01/08 - 02/17
Date: 2/28/2017
Drawdown: -5.65 % Date: 1/31/2017
Drawdown: -8.75 % Date: 12/31/2016
Drawdown: -9.04 % Date: 11/30/2016
Drawdown: -5.58 % Date: 10/31/2016
Drawdown: -2.64 % Date: 9/30/2016
Drawdown: -5.67 % Date: 8/31/2016
Drawdown: -4.44 % Date: 7/31/2016
Drawdown: -2.37 % Date: 6/30/2016
Drawdown: -0.91 % Date: 5/31/2016
Drawdown: -0.24 % Date: 4/30/2016
Drawdown: 0.00 % Date: 3/31/2016
Drawdown: 0.00 % Date: 2/29/2016
Drawdown: 0.00 % Date: 1/31/2016
Drawdown: 0.00 % Date: 12/31/2015
Drawdown: 0.00 % Date: 11/30/2015
Drawdown: 0.00 % Date: 10/31/2015
Drawdown: -3.78 % Date: 9/30/2015
Drawdown: -0.16 % Date: 8/31/2015
Drawdown: 0.00 % Date: 7/31/2015
Drawdown: 0.00 % Date: 6/30/2015
Drawdown: -2.35 % Date: 5/31/2015
Drawdown: -0.90 % Date: 4/30/2015
Drawdown: 0.00 % 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: -0.55 % Date: 10/31/2014
Drawdown: -1.73 % Date: 9/30/2014
Drawdown: 0.00 % Date: 8/31/2014
Drawdown: 0.00 % Date: 7/31/2014
Drawdown: -2.32 % Date: 6/30/2014
Drawdown: -4.28 % Date: 5/31/2014
Drawdown: -1.33 % Date: 4/30/2014
Drawdown: -4.05 % Date: 3/31/2014
Drawdown: -4.39 % Date: 2/28/2014
Drawdown: -5.21 % Date: 1/31/2014
Drawdown: -4.16 % Date: 12/31/2013
Drawdown: -3.40 % Date: 11/30/2013
Drawdown: -4.47 % Date: 10/31/2013
Drawdown: -8.76 % Date: 9/30/2013
Drawdown: -10.76 % Date: 8/31/2013
Drawdown: -7.25 % Date: 7/31/2013
Drawdown: -4.84 % Date: 6/30/2013
Drawdown: -3.24 % Date: 5/31/2013
Drawdown: 0.00 % Date: 4/30/2013
Drawdown: -1.98 % Date: 3/31/2013
Drawdown: 0.00 % Date: 2/28/2013
Drawdown: 0.00 % Date: 1/31/2013
Drawdown: 0.00 % Date: 12/31/2012
Drawdown: -0.41 % Date: 11/30/2012
Drawdown: -2.06 % Date: 10/31/2012
Drawdown: -1.69 % Date: 9/30/2012
Drawdown: -1.43 % Date: 8/31/2012
Drawdown: -4.26 % Date: 7/31/2012
Drawdown: -5.08 % Date: 6/30/2012
Drawdown: -4.30 % Date: 5/31/2012
Drawdown: 0.00 % Date: 4/30/2012
Drawdown: -0.49 % Date: 3/31/2012
Drawdown: -1.27 % Date: 2/29/2012
Drawdown: 0.00 % Date: 1/31/2012
Drawdown: 0.00 % Date: 12/31/2011
Drawdown: 0.00 % Date: 11/30/2011
Drawdown: -3.61 % Date: 10/31/2011
Drawdown: -4.98 % Date: 9/30/2011
Drawdown: -6.61 % Date: 8/31/2011
Drawdown: -5.34 % Date: 7/31/2011
Drawdown: -4.11 % Date: 6/30/2011
Drawdown: -7.91 % Date: 5/31/2011
Drawdown: -7.79 % Date: 4/30/2011
Drawdown: -3.76 % Date: 3/31/2011
Drawdown: -8.57 % Date: 2/28/2011
Drawdown: -7.70 % Date: 1/31/2011
Drawdown: -7.75 % Date: 12/31/2010
Drawdown: -6.76 % Date: 11/30/2010
Drawdown: -8.72 % Date: 10/31/2010
Drawdown: -5.67 % Date: 9/30/2010
Drawdown: -3.56 % Date: 8/31/2010
Drawdown: -4.62 % Date: 7/31/2010
Drawdown: -3.96 % Date: 6/30/2010
Drawdown: -3.99 % Date: 5/31/2010
Drawdown: -1.61 % Date: 4/30/2010
Drawdown: 0.00 % Date: 3/31/2010
Drawdown: 0.00 % Date: 2/28/2010
Drawdown: 0.00 % Date: 1/31/2010
Drawdown: 0.00 % Date: 12/31/2009
Drawdown: -0.07 % Date: 11/30/2009
Drawdown: 0.00 % Date: 10/31/2009
Drawdown: 0.00 % Date: 9/30/2009
Drawdown: -0.41 % Date: 8/31/2009
Drawdown: -0.28 % Date: 7/31/2009
Drawdown: 0.00 % Date: 6/30/2009
Drawdown: 0.00 % Date: 5/31/2009
Drawdown: 0.00 % Date: 4/30/2009
Drawdown: 0.00 % Date: 3/31/2009
Drawdown: 0.00 % Date: 2/28/2009
Drawdown: 0.00 % Date: 1/31/2009
Drawdown: 0.00 % Date: 12/31/2008
Drawdown: -0.07 % Date: 11/30/2008
Drawdown: 0.00 % Date: 10/31/2008
Drawdown: 0.00 % Date: 9/30/2008
Drawdown: -0.41 % Date: 8/31/2008
Drawdown: -0.45 % Date: 7/31/2008
Drawdown: 0.00 % Date: 6/30/2008
Drawdown: -1.01 % Date: 5/31/2008
Drawdown: -1.31 % Date: 4/30/2008
Drawdown: 0.00 % Date: 3/31/2008
Drawdown: 0.00 % Date: 2/29/2008
Drawdown: 0.00 %
Note: All performance data is since program inception.
Notes to Performance

Manager Information
Manager Name:  The Cambridge Strategy Asset Management Ltd.
Address: 7th Floor Berger House, 36-38 Berkeley Square
City: London
State:
Zip: W1J-5AF
Country: United Kingdon
Key People
Name:  Edward Baker
Position:  Principal
Biography: 

Mr Baker joined the Investment Manager in July 2007. Prior to this, Mr Baker was the chief investment officer of emerging markets growth equities at AllianceBernstein. Mr Baker joined Alliance Capital in 1995 and served in various roles during his tenure, including chief executive officer of Alliance Capital Limited, Alliance Capital's London based subsidiary. Mr Baker assumed responsibility for the emerging markets growth business in early 1998. Prior to joining Alliance Capital in 1995, Mr. Baker worked for Barra, Inc., an investment technology firm, which he joined in 1978. Mr Baker is currently a member of the board of directors of The Investment Management Consultants Association and Editor-in-Chief of The Journal of Investment Consulting. He is also the chairman of the Equity Advisory Group of the Institute of International Finance and a Trustee for the Mathematical Sciences Research Institute. Mr. Baker earned a BA from the University of South Florida and an MA from the University of California at Berkeley, where he was a Regents Fellow. He has also completed work towards a PhD in both mathematics and finance.


Name:  Peter Henricks
Position:  Chief Executive Officer
Biography: 

Prior to joining the Investment Manager in November 2003, Mr Henricks founded RPMH and AJIA RPMH Inc. in early 2003, which manage global and Asian equities. Prior to this, Mr Henricks was chief executive officer of various subsidiaries throughout Asia at Alliance Capital, which he joined in 1993. At Alliance, he was responsible for leading the teams that managed Far East equity portfolios. He also oversaw research, office administration, compliance, institutional marketing and retail sales. During this period, Peter founded offices for Alliance in Australia, Hong Kong, Taiwan and negotiated the joint venture in China with Ping-An. Between 1985 and 1993, Mr Henricks worked at Shearson Lehman, where he was responsible for trading short dated treasury instruments and became senior dealer in Hong Kong. He was subsequently promoted to merchant banking head in Australia with responsibility for treasury, stock broking, foreign exchange and fixed income. Mr Henricks holds a BA from Flinders University of South Australia and a Masters in Project Management from the University of Technology, Australia and is a doctoral candidate at the ISM in Paris.


Name:  Russell Thompson
Position:  Chief Investment Officer
Biography: 

Prior to joining the Investment Manager in November 2003, Mr Thompson was a consultant at RPMH LLP, which he joined in 2003, and developed a foreign exchange platform which began trading in 2004. Between 2001 and 2004 Mr Thompson co-founded two companies, Platinum Destination, a luxury lodging company based in Whistler, BC and the Perennia Fund, a Cayman Islands based fund specialising in real estate investments. From 1998 to 2001, Mr Thompson was employed as a senior trader at AIG Trading, where he became head of trading for Asia, which included responsibility for all aspects of currency and interest rate trading in AIG Inc. HK. He was also responsible for trading and managing the AIG Proprietary Asian Currency Fund. Prior to this, Mr Thompson worked at HSBC Markets in Hong Kong, which he joined in 1995, as a forward/proprietary trader and then subsequently becoming senior derivatives trader, when he created and ran the non-deliverable forwards desk. Mr Thompson began his career at Midland Montagu in 1989 as a business analyst, becoming a derivatives and money market trader thereafter. Mr Thompson has a BSc (Hons) in Economics and is a member of the Association of Corporate Treasurers.


Name:  Alexandra Edstein
Position:  Portfolio Manager
Biography: 

Asian Markets Currency Alpha - Senior Portfolio Manager


Name:  Robert Colehan
Position:  Portfolio Manager
Biography: 

Extended Markets Currency Alpha - Senior Portfolio Manager


Name:  Ani Wilson
Position:  Portfolio Manager
Biography: 

Extended Markets Currency Alpha - Assistant Portfolio Manager


Name:  Ali Yigitbasioglu
Position:  Portfolio Manager
Biography: 

Apollo Absolute Return Strategy (EM Macro) - Senior Portfolio Manager


Name:  Walid Khalfallah
Position:  Portfolio Manager
Biography: 

Apollo Absolute Return Strategy (EM Macro) - Senior Portfolio Manager


Name:  Andrew Bresler
Position:  Portfolio Manager
Biography: 

Emerging Markets Currency Alpha - Senior Portfolio Manager


Name:  Andrew Saunders
Position:  Portfolio Manager
Biography: 

Emerging Markets Currency Alpha - Senior Portfolio Manager


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.