Altegris Clearing Solutions Portfolio Concept GmbH PC Global Systematic *QEP*
Monthly Performance (%)
Date Range: 12/06 - 05/17
  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
2017 0.08 -0.21 1.47 0.32 0.69 2.36
2016 0.48 0.00 0.89 -1.07 -0.50 -0.01 -0.51 -0.38 1.30 0.55 -0.52 -0.08 0.12
2015 -0.72 1.23 0.06 -0.82 -0.18 0.24 1.08 -2.40 3.45 0.05 -0.32 -0.90 0.66
2014 -1.52 0.45 1.60 1.54 -0.56 0.11 1.39 -1.52 -0.02 0.49 0.12 1.48 3.55
2013 -0.48 0.81 0.07 3.68 -2.59 0.77 -4.21 3.06 -2.17 1.96 0.63 0.34 1.59
2012 -0.70 2.05 1.79 0.94 -2.77 6.71 0.53 -0.56 0.71 3.08 2.62 2.18 17.55
2011 0.62 1.66 -2.73 -4.35 -1.86 9.00 -1.93 11.04 5.71 0.51 2.90 5.65 28.06
2010 3.82 0.49 -11.26 -1.00 8.16 -0.16 2.92 -3.62 1.05 -5.02 1.07 -0.36 -5.11
2009 3.37 -1.52 10.55 4.00 -0.76 -0.56 -1.88 1.17 3.03 4.75 0.75 -0.89 23.56
2008 -1.71 -6.00 -5.41 -1.20 8.42 3.37 13.84 4.79 14.89 -2.59 6.23 4.63 43.60
2007 1.63 2.09 -1.17 2.41 -0.17 -1.68 2.32 2.61 1.70 -2.58 4.45 6.85 19.66
Note: Estimates appear in italics. All performance data is since program inception.
Strategy Description

The Portfolio Concept Global Systematic strategy is a purely systematic diversified managed futures program. The quantitative approach seeks to capitalize from price changes of various equity markets and selected bond and commodity markets in both bull and bear market scenarios. The portfolio compromises of various trading models which are rather short term oriented. The models include intra-day trading, intra-week trading, seasonal patterns and mid-term trend-following/ mean-reversion applied on multiple markets and different time frames. The trading models apply filters that reduce draw-downs and make the portfolio more stable in every market phase. The program’s combination of models and markets make the strategy unique and are the key factor for the robustness of the portfolio. The portfolio management uses sophisticated and proven risk management control tools. In addition each market position has a corresponding stop-loss order. Since inception the strategy has proven successful and robust returns even in challenging market periods that offer a good diversification not only to traditional investments, but also to other CTA strategies and Alternative Investments

Performance Statistics
Date Range: 12/06 - 05/17
  Program SP500 TR Altegris 40
Total Return 229.15% 115.76% 30.93%
Annualized Return 12.12% 7.60% 2.60%
Annualized Std. Deviation 12.27% 14.89% 9.18%
Correlation -0.16 -0.27
Sharpe Ratio (rf=2.5%) 0.78 0.34 0.01
Worst Month -11.26% -16.79% -5.20%
Date of Worst Month 03/2010 10/2008 06/2015
Worst Drawdown -15.05% -50.95% -15.74%
Date of Worst Drawdown 2/10 - 5/11 10/07 - 2/09 4/11 - 9/13
Note: Estimates appear in italics. All performance data is since program inception.
Annual Performance (%)
Date Range: 12/06 - 05/17
Year or YTD Program SP500 TR Altegris 40
2017 2.36 8.68 -1.02
2016 0.12 11.98 -3.13
2015 0.66 1.41 0.09
2014 3.55 13.69 15.75
2013 1.59 32.41 -2.45
2012 17.55 15.98 -4.75
2011 28.06 2.12 -3.23
2010 -5.11 15.06 11.33
2009 23.56 26.45 -7.98
2008 43.60 -36.99 15.47
2007 19.66 5.50 7.18
Note: Estimates appear in italics. All performance data is since program inception.
Performance Comparison
Date Range: 12/06 - 05/17
Date: 5/31/2017
Perf: $1,266.48 Date: 4/30/2017
Perf: $1,264.08 Date: 3/31/2017
Perf: $1,271.71 Date: 2/28/2017
Perf: $1,290.55 Date: 1/31/2017
Perf: $1,263.02 Date: 12/31/2016
Perf: $1,279.52 Date: 11/30/2016
Perf: $1,269.87 Date: 10/31/2016
Perf: $1,284.00 Date: 9/30/2016
Perf: $1,318.00 Date: 8/31/2016
Perf: $1,335.22 Date: 7/31/2016
Perf: $1,372.13 Date: 6/30/2016
Perf: $1,358.28 Date: 5/31/2016
Perf: $1,302.91 Date: 4/30/2016
Perf: $1,326.11 Date: 3/31/2016
Perf: $1,360.26 Date: 2/29/2016
Perf: $1,400.45 Date: 1/31/2016
Perf: $1,366.82 Date: 12/31/2015
Perf: $1,320.86 Date: 11/30/2015
Perf: $1,351.95 Date: 10/31/2015
Perf: $1,307.37 Date: 9/30/2015
Perf: $1,330.52 Date: 8/31/2015
Perf: $1,302.26 Date: 7/31/2015
Perf: $1,325.19 Date: 6/30/2015
Perf: $1,275.32 Date: 5/31/2015
Perf: $1,345.28 Date: 4/30/2015
Perf: $1,355.04 Date: 3/31/2015
Perf: $1,409.44 Date: 2/28/2015
Perf: $1,378.97 Date: 1/31/2015
Perf: $1,381.17 Date: 12/31/2014
Perf: $1,319.68 Date: 11/30/2014
Perf: $1,296.85 Date: 10/31/2014
Perf: $1,224.02 Date: 9/30/2014
Perf: $1,206.29 Date: 8/31/2014
Perf: $1,188.58 Date: 7/31/2014
Perf: $1,140.34 Date: 6/30/2014
Perf: $1,149.54 Date: 5/31/2014
Perf: $1,139.74 Date: 4/30/2014
Perf: $1,111.29 Date: 3/31/2014
Perf: $1,102.91 Date: 2/28/2014
Perf: $1,119.48 Date: 1/31/2014
Perf: $1,110.37 Date: 12/31/2013
Perf: $1,140.13 Date: 11/30/2013
Perf: $1,141.73 Date: 10/31/2013
Perf: $1,121.43 Date: 9/30/2013
Perf: $1,096.32 Date: 8/31/2013
Perf: $1,102.94 Date: 7/31/2013
Perf: $1,124.53 Date: 6/30/2013
Perf: $1,134.40 Date: 5/31/2013
Perf: $1,179.09 Date: 4/30/2013
Perf: $1,232.07 Date: 3/31/2013
Perf: $1,201.08 Date: 2/28/2013
Perf: $1,184.03 Date: 1/31/2013
Perf: $1,190.94 Date: 12/31/2012
Perf: $1,168.73 Date: 11/30/2012
Perf: $1,163.03 Date: 10/31/2012
Perf: $1,159.79 Date: 9/30/2012
Perf: $1,203.35 Date: 8/31/2012
Perf: $1,223.53 Date: 7/31/2012
Perf: $1,240.40 Date: 6/30/2012
Perf: $1,191.67 Date: 5/31/2012
Perf: $1,238.22 Date: 4/30/2012
Perf: $1,215.13 Date: 3/31/2012
Perf: $1,207.89 Date: 2/29/2012
Perf: $1,235.94 Date: 1/31/2012
Perf: $1,230.90 Date: 12/31/2011
Perf: $1,226.97 Date: 11/30/2011
Perf: $1,215.30 Date: 10/31/2011
Perf: $1,211.67 Date: 9/30/2011
Perf: $1,261.63 Date: 8/31/2011
Perf: $1,262.39 Date: 7/31/2011
Perf: $1,264.92 Date: 6/30/2011
Perf: $1,221.08 Date: 5/31/2011
Perf: $1,253.68 Date: 4/30/2011
Perf: $1,301.17 Date: 3/31/2011
Perf: $1,252.33 Date: 2/28/2011
Perf: $1,271.79 Date: 1/31/2011
Perf: $1,250.53 Date: 12/31/2010
Perf: $1,267.90 Date: 11/30/2010
Perf: $1,215.74 Date: 10/31/2010
Perf: $1,260.36 Date: 9/30/2010
Perf: $1,213.28 Date: 8/31/2010
Perf: $1,191.60 Date: 7/31/2010
Perf: $1,144.22 Date: 6/30/2010
Perf: $1,159.18 Date: 5/31/2010
Perf: $1,154.79 Date: 4/30/2010
Perf: $1,183.43 Date: 3/31/2010
Perf: $1,165.48 Date: 2/28/2010
Perf: $1,120.98 Date: 1/31/2010
Perf: $1,110.54 Date: 12/31/2009
Perf: $1,138.90 Date: 11/30/2009
Perf: $1,186.35 Date: 10/31/2009
Perf: $1,140.39 Date: 9/30/2009
Perf: $1,170.35 Date: 8/31/2009
Perf: $1,143.15 Date: 7/31/2009
Perf: $1,139.39 Date: 6/30/2009
Perf: $1,140.64 Date: 5/31/2009
Perf: $1,171.81 Date: 4/30/2009
Perf: $1,155.86 Date: 3/31/2009
Perf: $1,194.94 Date: 2/28/2009
Perf: $1,228.98 Date: 1/31/2009
Perf: $1,229.59 Date: 12/31/2008
Perf: $1,237.64 Date: 11/30/2008
Perf: $1,206.63 Date: 10/31/2008
Perf: $1,163.91 Date: 9/30/2008
Perf: $1,106.91 Date: 8/31/2008
Perf: $1,104.59 Date: 7/31/2008
Perf: $1,134.89 Date: 6/30/2008
Perf: $1,189.49 Date: 5/31/2008
Perf: $1,158.55 Date: 4/30/2008
Perf: $1,135.17 Date: 3/31/2008
Perf: $1,148.37 Date: 2/29/2008
Perf: $1,153.45 Date: 1/31/2008
Perf: $1,091.35 Date: 12/31/2007
Perf: $1,071.84 Date: 11/30/2007
Perf: $1,074.31 Date: 10/31/2007
Perf: $1,081.34 Date: 9/30/2007
Perf: $1,036.66 Date: 8/31/2007
Perf: $990.41 Date: 7/31/2007
Perf: $1,028.78 Date: 6/30/2007
Perf: $1,061.59 Date: 5/31/2007
Perf: $1,031.77 Date: 4/30/2007
Perf: $996.21 Date: 3/31/2007
Perf: $956.05 Date: 2/28/2007
Perf: $978.96 Date: 1/31/2007
Perf: $1,017.10 Date: 12/31/2006
Perf: $1,000.00 Date: 5/31/2017
Perf: $2,127.82 Date: 4/30/2017
Perf: $2,098.23 Date: 3/31/2017
Perf: $2,076.84 Date: 2/28/2017
Perf: $2,074.35 Date: 1/31/2017
Perf: $1,995.15 Date: 12/31/2016
Perf: $1,957.94 Date: 11/30/2016
Perf: $1,919.93 Date: 10/31/2016
Perf: $1,851.43 Date: 9/30/2016
Perf: $1,885.75 Date: 8/31/2016
Perf: $1,885.37 Date: 7/31/2016
Perf: $1,882.73 Date: 6/30/2016
Perf: $1,815.73 Date: 5/31/2016
Perf: $1,811.03 Date: 4/30/2016
Perf: $1,779.00 Date: 3/31/2016
Perf: $1,772.09 Date: 2/29/2016
Perf: $1,659.57 Date: 1/31/2016
Perf: $1,661.73 Date: 12/31/2015
Perf: $1,748.46 Date: 11/30/2015
Perf: $1,776.53 Date: 10/31/2015
Perf: $1,771.21 Date: 9/30/2015
Perf: $1,633.36 Date: 8/31/2015
Perf: $1,674.72 Date: 7/31/2015
Perf: $1,782.19 Date: 6/30/2015
Perf: $1,745.53 Date: 5/31/2015
Perf: $1,780.07 Date: 4/30/2015
Perf: $1,757.40 Date: 3/31/2015
Perf: $1,740.68 Date: 2/28/2015
Perf: $1,768.63 Date: 1/31/2015
Perf: $1,672.46 Date: 12/31/2014
Perf: $1,724.19 Date: 11/30/2014
Perf: $1,728.51 Date: 10/31/2014
Perf: $1,683.23 Date: 9/30/2014
Perf: $1,643.14 Date: 8/31/2014
Perf: $1,666.47 Date: 7/31/2014
Perf: $1,602.37 Date: 6/30/2014
Perf: $1,624.80 Date: 5/31/2014
Perf: $1,591.84 Date: 4/30/2014
Perf: $1,555.30 Date: 3/31/2014
Perf: $1,543.87 Date: 2/28/2014
Perf: $1,531.01 Date: 1/31/2014
Perf: $1,464.10 Date: 12/31/2013
Perf: $1,516.57 Date: 11/30/2013
Perf: $1,479.15 Date: 10/31/2013
Perf: $1,435.37 Date: 9/30/2013
Perf: $1,372.25 Date: 8/31/2013
Perf: $1,330.47 Date: 7/31/2013
Perf: $1,370.21 Date: 6/30/2013
Perf: $1,303.84 Date: 5/31/2013
Perf: $1,321.55 Date: 4/30/2013
Perf: $1,291.33 Date: 3/31/2013
Perf: $1,266.88 Date: 2/28/2013
Perf: $1,221.09 Date: 1/31/2013
Perf: $1,204.71 Date: 12/31/2012
Perf: $1,145.38 Date: 11/30/2012
Perf: $1,135.05 Date: 10/31/2012
Perf: $1,128.50 Date: 9/30/2012
Perf: $1,149.77 Date: 8/31/2012
Perf: $1,120.86 Date: 7/31/2012
Perf: $1,096.19 Date: 6/30/2012
Perf: $1,081.16 Date: 5/31/2012
Perf: $1,038.38 Date: 4/30/2012
Perf: $1,104.78 Date: 3/31/2012
Perf: $1,111.78 Date: 2/29/2012
Perf: $1,076.37 Date: 1/31/2012
Perf: $1,031.80 Date: 12/31/2011
Perf: $987.56 Date: 11/30/2011
Perf: $977.58 Date: 10/31/2011
Perf: $979.74 Date: 9/30/2011
Perf: $883.20 Date: 8/31/2011
Perf: $949.99 Date: 7/31/2011
Perf: $1,004.54 Date: 6/30/2011
Perf: $1,025.35 Date: 5/31/2011
Perf: $1,042.76 Date: 4/30/2011
Perf: $1,054.68 Date: 3/31/2011
Perf: $1,024.36 Date: 2/28/2011
Perf: $1,023.95 Date: 1/31/2011
Perf: $989.99 Date: 12/31/2010
Perf: $967.08 Date: 11/30/2010
Perf: $906.52 Date: 10/31/2010
Perf: $906.43 Date: 9/30/2010
Perf: $873.16 Date: 8/31/2010
Perf: $801.65 Date: 7/31/2010
Perf: $839.52 Date: 6/30/2010
Perf: $784.52 Date: 5/31/2010
Perf: $827.82 Date: 4/30/2010
Perf: $899.70 Date: 3/31/2010
Perf: $885.71 Date: 2/28/2010
Perf: $835.34 Date: 1/31/2010
Perf: $810.22 Date: 12/31/2009
Perf: $840.48 Date: 11/30/2009
Perf: $824.56 Date: 10/31/2009
Perf: $777.89 Date: 9/30/2009
Perf: $792.63 Date: 8/31/2009
Perf: $764.13 Date: 7/31/2009
Perf: $737.51 Date: 6/30/2009
Perf: $685.67 Date: 5/31/2009
Perf: $684.30 Date: 4/30/2009
Perf: $648.07 Date: 3/31/2009
Perf: $591.47 Date: 2/28/2009
Perf: $543.83 Date: 1/31/2009
Perf: $608.65 Date: 12/31/2008
Perf: $664.69 Date: 11/30/2008
Perf: $657.71 Date: 10/31/2008
Perf: $708.59 Date: 9/30/2008
Perf: $851.57 Date: 8/31/2008
Perf: $934.87 Date: 7/31/2008
Perf: $921.50 Date: 6/30/2008
Perf: $929.31 Date: 5/31/2008
Perf: $1,014.86 Date: 4/30/2008
Perf: $1,001.84 Date: 3/31/2008
Perf: $955.31 Date: 2/29/2008
Perf: $959.44 Date: 1/31/2008
Perf: $991.67 Date: 12/31/2007
Perf: $1,054.97 Date: 11/30/2007
Perf: $1,062.30 Date: 10/31/2007
Perf: $1,108.64 Date: 9/30/2007
Perf: $1,091.29 Date: 8/31/2007
Perf: $1,051.94 Date: 7/31/2007
Perf: $1,036.40 Date: 6/30/2007
Perf: $1,069.55 Date: 5/31/2007
Perf: $1,087.61 Date: 4/30/2007
Perf: $1,050.93 Date: 3/31/2007
Perf: $1,006.35 Date: 2/28/2007
Perf: $995.20 Date: 1/31/2007
Perf: $1,015.10 Date: 12/31/2006
Perf: $1,000.00 Date: 5/31/2017
Perf: $3,291.48 Date: 4/30/2017
Perf: $3,268.92 Date: 3/31/2017
Perf: $3,258.50 Date: 2/28/2017
Perf: $3,211.29 Date: 1/31/2017
Perf: $3,218.05 Date: 12/31/2016
Perf: $3,215.47 Date: 11/30/2016
Perf: $3,218.05 Date: 10/31/2016
Perf: $3,234.87 Date: 9/30/2016
Perf: $3,217.18 Date: 8/31/2016
Perf: $3,175.89 Date: 7/31/2016
Perf: $3,188.00 Date: 6/30/2016
Perf: $3,204.35 Date: 5/31/2016
Perf: $3,204.67 Date: 4/30/2016
Perf: $3,220.77 Date: 3/31/2016
Perf: $3,255.61 Date: 2/29/2016
Perf: $3,226.89 Date: 1/31/2016
Perf: $3,226.89 Date: 12/31/2015
Perf: $3,211.47 Date: 11/30/2015
Perf: $3,240.64 Date: 10/31/2015
Perf: $3,251.04 Date: 9/30/2015
Perf: $3,249.42 Date: 8/31/2015
Perf: $3,141.05 Date: 7/31/2015
Perf: $3,218.29 Date: 6/30/2015
Perf: $3,183.90 Date: 5/31/2015
Perf: $3,176.28 Date: 4/30/2015
Perf: $3,182.01 Date: 3/31/2015
Perf: $3,208.31 Date: 2/28/2015
Perf: $3,206.39 Date: 1/31/2015
Perf: $3,167.43 Date: 12/31/2014
Perf: $3,190.40 Date: 11/30/2014
Perf: $3,143.87 Date: 10/31/2014
Perf: $3,140.10 Date: 9/30/2014
Perf: $3,124.79 Date: 8/31/2014
Perf: $3,125.42 Date: 7/31/2014
Perf: $3,173.66 Date: 6/30/2014
Perf: $3,130.15 Date: 5/31/2014
Perf: $3,126.71 Date: 4/30/2014
Perf: $3,144.32 Date: 3/31/2014
Perf: $3,096.63 Date: 2/28/2014
Perf: $3,047.86 Date: 1/31/2014
Perf: $3,034.21 Date: 12/31/2013
Perf: $3,081.04 Date: 11/30/2013
Perf: $3,070.60 Date: 10/31/2013
Perf: $3,051.38 Date: 9/30/2013
Perf: $2,992.72 Date: 8/31/2013
Perf: $3,059.10 Date: 7/31/2013
Perf: $2,968.27 Date: 6/30/2013
Perf: $3,098.73 Date: 5/31/2013
Perf: $3,075.05 Date: 4/30/2013
Perf: $3,156.81 Date: 3/31/2013
Perf: $3,044.77 Date: 2/28/2013
Perf: $3,042.64 Date: 1/31/2013
Perf: $3,018.19 Date: 12/31/2012
Perf: $3,032.75 Date: 11/30/2012
Perf: $2,968.04 Date: 10/31/2012
Perf: $2,892.27 Date: 9/30/2012
Perf: $2,805.85 Date: 8/31/2012
Perf: $2,786.07 Date: 7/31/2012
Perf: $2,801.75 Date: 6/30/2012
Perf: $2,786.98 Date: 5/31/2012
Perf: $2,611.74 Date: 4/30/2012
Perf: $2,686.14 Date: 3/31/2012
Perf: $2,661.13 Date: 2/29/2012
Perf: $2,614.33 Date: 1/31/2012
Perf: $2,561.81 Date: 12/31/2011
Perf: $2,579.87 Date: 11/30/2011
Perf: $2,441.91 Date: 10/31/2011
Perf: $2,373.09 Date: 9/30/2011
Perf: $2,361.04 Date: 8/31/2011
Perf: $2,233.51 Date: 7/31/2011
Perf: $2,011.45 Date: 6/30/2011
Perf: $2,051.03 Date: 5/31/2011
Perf: $1,881.68 Date: 4/30/2011
Perf: $1,917.34 Date: 3/31/2011
Perf: $2,004.54 Date: 2/28/2011
Perf: $2,060.80 Date: 1/31/2011
Perf: $2,027.15 Date: 12/31/2010
Perf: $2,014.66 Date: 11/30/2010
Perf: $2,021.94 Date: 10/31/2010
Perf: $2,000.53 Date: 9/30/2010
Perf: $2,106.27 Date: 8/31/2010
Perf: $2,084.38 Date: 7/31/2010
Perf: $2,162.67 Date: 6/30/2010
Perf: $2,101.31 Date: 5/31/2010
Perf: $2,104.68 Date: 4/30/2010
Perf: $1,945.89 Date: 3/31/2010
Perf: $1,965.55 Date: 2/28/2010
Perf: $2,214.95 Date: 1/31/2010
Perf: $2,204.15 Date: 12/31/2009
Perf: $2,123.05 Date: 11/30/2009
Perf: $2,142.12 Date: 10/31/2009
Perf: $2,126.17 Date: 9/30/2009
Perf: $2,029.76 Date: 8/31/2009
Perf: $1,970.06 Date: 7/31/2009
Perf: $1,947.28 Date: 6/30/2009
Perf: $1,984.59 Date: 5/31/2009
Perf: $1,995.77 Date: 4/30/2009
Perf: $2,011.05 Date: 3/31/2009
Perf: $1,933.70 Date: 2/28/2009
Perf: $1,749.17 Date: 1/31/2009
Perf: $1,776.16 Date: 12/31/2008
Perf: $1,718.26 Date: 11/30/2008
Perf: $1,642.22 Date: 10/31/2008
Perf: $1,545.91 Date: 9/30/2008
Perf: $1,587.02 Date: 8/31/2008
Perf: $1,381.34 Date: 7/31/2008
Perf: $1,318.20 Date: 6/30/2008
Perf: $1,157.94 Date: 5/31/2008
Perf: $1,120.19 Date: 4/30/2008
Perf: $1,033.19 Date: 3/31/2008
Perf: $1,045.74 Date: 2/29/2008
Perf: $1,105.55 Date: 1/31/2008
Perf: $1,176.12 Date: 12/31/2007
Perf: $1,196.58 Date: 11/30/2007
Perf: $1,119.87 Date: 10/31/2007
Perf: $1,072.16 Date: 9/30/2007
Perf: $1,100.55 Date: 8/31/2007
Perf: $1,082.16 Date: 7/31/2007
Perf: $1,054.63 Date: 6/30/2007
Perf: $1,030.72 Date: 5/31/2007
Perf: $1,048.33 Date: 4/30/2007
Perf: $1,050.11 Date: 3/31/2007
Perf: $1,025.40 Date: 2/28/2007
Perf: $1,037.54 Date: 1/31/2007
Perf: $1,016.30 Date: 12/31/2006
Perf: $1,000.00
Note: All performance data is since program inception.

Monthly Returns
Date Range: 12/06 - 05/17
Date: 5/31/2017
Return: 0.69 % Date: 4/30/2017
Return: 0.32 % Date: 3/31/2017
Return: 1.47 % Date: 2/28/2017
Return: -0.21 % Date: 1/31/2017
Return: 0.08 % Date: 12/31/2016
Return: -0.08 % Date: 11/30/2016
Return: -0.52 % Date: 10/31/2016
Return: 0.55 % Date: 9/30/2016
Return: 1.30 % Date: 8/31/2016
Return: -0.38 % Date: 7/31/2016
Return: -0.51 % Date: 6/30/2016
Return: -0.01 % Date: 5/31/2016
Return: -0.50 % Date: 4/30/2016
Return: -1.07 % Date: 3/31/2016
Return: 0.89 % Date: 2/29/2016
Return: 0.00 % Date: 1/31/2016
Return: 0.48 % Date: 12/31/2015
Return: -0.90 % Date: 11/30/2015
Return: -0.32 % Date: 10/31/2015
Return: 0.05 % Date: 9/30/2015
Return: 3.45 % Date: 8/31/2015
Return: -2.40 % Date: 7/31/2015
Return: 1.08 % Date: 6/30/2015
Return: 0.24 % Date: 5/31/2015
Return: -0.18 % Date: 4/30/2015
Return: -0.82 % Date: 3/31/2015
Return: 0.06 % Date: 2/28/2015
Return: 1.23 % Date: 1/31/2015
Return: -0.72 % Date: 12/31/2014
Return: 1.48 % Date: 11/30/2014
Return: 0.12 % Date: 10/31/2014
Return: 0.49 % Date: 9/30/2014
Return: -0.02 % Date: 8/31/2014
Return: -1.52 % Date: 7/31/2014
Return: 1.39 % Date: 6/30/2014
Return: 0.11 % Date: 5/31/2014
Return: -0.56 % Date: 4/30/2014
Return: 1.54 % Date: 3/31/2014
Return: 1.60 % Date: 2/28/2014
Return: 0.45 % Date: 1/31/2014
Return: -1.52 % Date: 12/31/2013
Return: 0.34 % Date: 11/30/2013
Return: 0.63 % Date: 10/31/2013
Return: 1.96 % Date: 9/30/2013
Return: -2.17 % Date: 8/31/2013
Return: 3.06 % Date: 7/31/2013
Return: -4.21 % Date: 6/30/2013
Return: 0.77 % Date: 5/31/2013
Return: -2.59 % Date: 4/30/2013
Return: 3.68 % Date: 3/31/2013
Return: 0.07 % Date: 2/28/2013
Return: 0.81 % Date: 1/31/2013
Return: -0.48 % Date: 12/31/2012
Return: 2.18 % Date: 11/30/2012
Return: 2.62 % Date: 10/31/2012
Return: 3.08 % Date: 9/30/2012
Return: 0.71 % Date: 8/31/2012
Return: -0.56 % Date: 7/31/2012
Return: 0.53 % Date: 6/30/2012
Return: 6.71 % Date: 5/31/2012
Return: -2.77 % Date: 4/30/2012
Return: 0.94 % Date: 3/31/2012
Return: 1.79 % Date: 2/29/2012
Return: 2.05 % Date: 1/31/2012
Return: -0.70 % Date: 12/31/2011
Return: 5.65 % Date: 11/30/2011
Return: 2.90 % Date: 10/31/2011
Return: 0.51 % Date: 9/30/2011
Return: 5.71 % Date: 8/31/2011
Return: 11.04 % Date: 7/31/2011
Return: -1.93 % Date: 6/30/2011
Return: 9.00 % Date: 5/31/2011
Return: -1.86 % Date: 4/30/2011
Return: -4.35 % Date: 3/31/2011
Return: -2.73 % Date: 2/28/2011
Return: 1.66 % Date: 1/31/2011
Return: 0.62 % Date: 12/31/2010
Return: -0.36 % Date: 11/30/2010
Return: 1.07 % Date: 10/31/2010
Return: -5.02 % Date: 9/30/2010
Return: 1.05 % Date: 8/31/2010
Return: -3.62 % Date: 7/31/2010
Return: 2.92 % Date: 6/30/2010
Return: -0.16 % Date: 5/31/2010
Return: 8.16 % Date: 4/30/2010
Return: -1.00 % Date: 3/31/2010
Return: -11.26 % Date: 2/28/2010
Return: 0.49 % Date: 1/31/2010
Return: 3.82 % Date: 12/31/2009
Return: -0.89 % Date: 11/30/2009
Return: 0.75 % Date: 10/31/2009
Return: 4.75 % Date: 9/30/2009
Return: 3.03 % Date: 8/31/2009
Return: 1.17 % Date: 7/31/2009
Return: -1.88 % Date: 6/30/2009
Return: -0.56 % Date: 5/31/2009
Return: -0.76 % Date: 4/30/2009
Return: 4.00 % Date: 3/31/2009
Return: 10.55 % Date: 2/28/2009
Return: -1.52 % Date: 1/31/2009
Return: 3.37 % Date: 12/31/2008
Return: 4.63 % Date: 11/30/2008
Return: 6.23 % Date: 10/31/2008
Return: -2.59 % Date: 9/30/2008
Return: 14.89 % Date: 8/31/2008
Return: 4.79 % Date: 7/31/2008
Return: 13.84 % Date: 6/30/2008
Return: 3.37 % Date: 5/31/2008
Return: 8.42 % Date: 4/30/2008
Return: -1.20 % Date: 3/31/2008
Return: -5.41 % Date: 2/29/2008
Return: -6.00 % Date: 1/31/2008
Return: -1.71 % Date: 12/31/2007
Return: 6.85 % Date: 11/30/2007
Return: 4.45 % Date: 10/31/2007
Return: -2.58 % Date: 9/30/2007
Return: 1.70 % Date: 8/31/2007
Return: 2.61 % Date: 7/31/2007
Return: 2.32 % Date: 6/30/2007
Return: -1.68 % Date: 5/31/2007
Return: -0.17 % Date: 4/30/2007
Return: 2.41 % Date: 3/31/2007
Return: -1.17 % Date: 2/28/2007
Return: 2.09 % Date: 1/31/2007
Return: 1.63 % Date: 12/31/2006
Return: 0.00 %
Note: All performance data is since program inception.

Distribution of Monthly Returns
Date Range: 12/06 - 05/17
Return: 9.00 %
Count: 1 Return: -4.00 %
Count: 3 Return: -11.00 %
Count: 1 Return: 1.00 %
Count: 21 Return: 11.00 %
Count: 2 Return: 6.00 %
Count: 3 Return: 15.00 %
Count: 1 Return: 5.00 %
Count: 3 Return: 14.00 %
Count: 1 Return: 8.00 %
Count: 2 Return: -5.00 %
Count: 2 Return: -6.00 %
Count: 1 Return: 7.00 %
Count: 2 Return: 4.00 %
Count: 4 Return: -3.00 %
Count: 5 Return: 3.00 %
Count: 10 Return: -2.00 %
Count: 10 Return: -1.00 %
Count: 15 Return: 2.00 %
Count: 12 Return: 0.00 %
Count: 27
Note: All performance data is since program inception.

Underwater Curve
Date Range: 12/06 - 05/17
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: -1.36 % Date: 1/31/2017
Drawdown: -1.15 % Date: 12/31/2016
Drawdown: -1.23 % Date: 11/30/2016
Drawdown: -1.15 % Date: 10/31/2016
Drawdown: -0.64 % Date: 9/30/2016
Drawdown: -1.18 % Date: 8/31/2016
Drawdown: -2.45 % Date: 7/31/2016
Drawdown: -2.08 % Date: 6/30/2016
Drawdown: -1.57 % Date: 5/31/2016
Drawdown: -1.56 % Date: 4/30/2016
Drawdown: -1.07 % Date: 3/31/2016
Drawdown: 0.00 % Date: 2/29/2016
Drawdown: -0.74 % Date: 1/31/2016
Drawdown: -0.74 % Date: 12/31/2015
Drawdown: -1.22 % Date: 11/30/2015
Drawdown: -0.32 % Date: 10/31/2015
Drawdown: 0.00 % Date: 9/30/2015
Drawdown: 0.00 % Date: 8/31/2015
Drawdown: -2.40 % Date: 7/31/2015
Drawdown: 0.00 % Date: 6/30/2015
Drawdown: -0.76 % Date: 5/31/2015
Drawdown: -1.00 % Date: 4/30/2015
Drawdown: -0.82 % Date: 3/31/2015
Drawdown: 0.00 % Date: 2/28/2015
Drawdown: 0.00 % Date: 1/31/2015
Drawdown: -0.72 % Date: 12/31/2014
Drawdown: 0.00 % Date: 11/30/2014
Drawdown: -0.94 % Date: 10/31/2014
Drawdown: -1.06 % Date: 9/30/2014
Drawdown: -1.54 % Date: 8/31/2014
Drawdown: -1.52 % Date: 7/31/2014
Drawdown: 0.00 % Date: 6/30/2014
Drawdown: -0.84 % Date: 5/31/2014
Drawdown: -0.95 % Date: 4/30/2014
Drawdown: -0.40 % Date: 3/31/2014
Drawdown: -1.91 % Date: 2/28/2014
Drawdown: -3.45 % Date: 1/31/2014
Drawdown: -3.88 % Date: 12/31/2013
Drawdown: -2.40 % Date: 11/30/2013
Drawdown: -2.73 % Date: 10/31/2013
Drawdown: -3.34 % Date: 9/30/2013
Drawdown: -5.20 % Date: 8/31/2013
Drawdown: -3.10 % Date: 7/31/2013
Drawdown: -5.97 % Date: 6/30/2013
Drawdown: -1.84 % Date: 5/31/2013
Drawdown: -2.59 % Date: 4/30/2013
Drawdown: 0.00 % Date: 3/31/2013
Drawdown: 0.00 % Date: 2/28/2013
Drawdown: 0.00 % Date: 1/31/2013
Drawdown: -0.48 % Date: 12/31/2012
Drawdown: 0.00 % Date: 11/30/2012
Drawdown: 0.00 % Date: 10/31/2012
Drawdown: 0.00 % Date: 9/30/2012
Drawdown: 0.00 % Date: 8/31/2012
Drawdown: -0.56 % Date: 7/31/2012
Drawdown: 0.00 % Date: 6/30/2012
Drawdown: 0.00 % Date: 5/31/2012
Drawdown: -2.77 % Date: 4/30/2012
Drawdown: 0.00 % Date: 3/31/2012
Drawdown: 0.00 % Date: 2/29/2012
Drawdown: 0.00 % Date: 1/31/2012
Drawdown: -0.70 % Date: 12/31/2011
Drawdown: 0.00 % Date: 11/30/2011
Drawdown: 0.00 % Date: 10/31/2011
Drawdown: 0.00 % Date: 9/30/2011
Drawdown: 0.00 % Date: 8/31/2011
Drawdown: 0.00 % Date: 7/31/2011
Drawdown: -9.19 % Date: 6/30/2011
Drawdown: -7.40 % Date: 5/31/2011
Drawdown: -15.05 % Date: 4/30/2011
Drawdown: -13.44 % Date: 3/31/2011
Drawdown: -9.50 % Date: 2/28/2011
Drawdown: -6.96 % Date: 1/31/2011
Drawdown: -8.48 % Date: 12/31/2010
Drawdown: -9.04 % Date: 11/30/2010
Drawdown: -8.71 % Date: 10/31/2010
Drawdown: -9.68 % Date: 9/30/2010
Drawdown: -4.91 % Date: 8/31/2010
Drawdown: -5.90 % Date: 7/31/2010
Drawdown: -2.36 % Date: 6/30/2010
Drawdown: -5.13 % Date: 5/31/2010
Drawdown: -4.98 % Date: 4/30/2010
Drawdown: -12.15 % Date: 3/31/2010
Drawdown: -11.26 % Date: 2/28/2010
Drawdown: 0.00 % Date: 1/31/2010
Drawdown: 0.00 % Date: 12/31/2009
Drawdown: -0.89 % Date: 11/30/2009
Drawdown: 0.00 % Date: 10/31/2009
Drawdown: 0.00 % Date: 9/30/2009
Drawdown: 0.00 % Date: 8/31/2009
Drawdown: -2.04 % Date: 7/31/2009
Drawdown: -3.17 % Date: 6/30/2009
Drawdown: -1.32 % Date: 5/31/2009
Drawdown: -0.76 % Date: 4/30/2009
Drawdown: 0.00 % Date: 3/31/2009
Drawdown: 0.00 % Date: 2/28/2009
Drawdown: -1.52 % Date: 1/31/2009
Drawdown: 0.00 % Date: 12/31/2008
Drawdown: 0.00 % Date: 11/30/2008
Drawdown: 0.00 % Date: 10/31/2008
Drawdown: -2.59 % Date: 9/30/2008
Drawdown: 0.00 % Date: 8/31/2008
Drawdown: 0.00 % Date: 7/31/2008
Drawdown: 0.00 % Date: 6/30/2008
Drawdown: -3.23 % Date: 5/31/2008
Drawdown: -6.38 % Date: 4/30/2008
Drawdown: -13.65 % Date: 3/31/2008
Drawdown: -12.61 % Date: 2/29/2008
Drawdown: -7.61 % Date: 1/31/2008
Drawdown: -1.71 % Date: 12/31/2007
Drawdown: 0.00 % Date: 11/30/2007
Drawdown: 0.00 % Date: 10/31/2007
Drawdown: -2.58 % Date: 9/30/2007
Drawdown: 0.00 % Date: 8/31/2007
Drawdown: 0.00 % Date: 7/31/2007
Drawdown: 0.00 % Date: 6/30/2007
Drawdown: -1.85 % Date: 5/31/2007
Drawdown: -0.17 % Date: 4/30/2007
Drawdown: 0.00 % Date: 3/31/2007
Drawdown: -1.17 % Date: 2/28/2007
Drawdown: 0.00 % Date: 1/31/2007
Drawdown: 0.00 %
Note: All performance data is since program inception.
Notes to Performance

Manager Information
Manager Name:  Portfolio Concept GmbH
Address: Max-Pechstein Str. 23
City: Cologne
State: Not
Zip: 50858
Country: Germany
Key People
Name:  Guenter T. Schloesser
Position:  Principal
Biography: 


Name:  Titus Schloesser
Position:  Principal
Biography: 


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.