Altegris Clearing Solutions Aventis Asset Management, LLC Aventis Diversified Commodity Strategy *QEP*
Monthly Performance (%)
Date Range: 08/06 - 11/17
  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
2017 0.25 -2.35 0.56 0.19 0.56 -2.60 3.32 -0.47 0.00 -1.77 -1.18 -3.57
2016 -1.29 -0.48 2.95 4.34 1.00 8.95 -4.74 -1.86 0.70 -3.57 -1.34 3.20 7.33
2015 2.25 -0.15 0.04 1.00 -0.63 -1.68 -0.17 -2.13 -1.91 -0.92 -2.92 -0.35 -7.42
2014 0.25 -2.60 -0.43 -1.31 1.30 1.33 2.16 0.54 1.05 -2.15 0.95 -2.55 -1.60
2013 0.00 2.08 -0.43 0.52 -5.52 1.69 2.47 -2.74 1.55 0.12 -0.63 2.57 1.38
2012 0.58 0.07 -0.33 1.03 -2.51 2.52 2.35 0.26 -0.05 -4.00 -0.75 -1.24 -2.24
2011 2.27 -0.29 2.69 2.92 4.23 -1.36 0.35 1.41 -3.57 0.87 0.51 -3.10 6.82
2010 -0.11 3.65 -3.82 1.61 2.90 7.42 -1.28 2.12 3.60 3.05 0.60 3.77 25.66
2009 3.28 -4.37 1.66 1.53 0.18 1.17 -2.22 -1.68 1.99 0.76 -1.87 1.70 1.87
2008 7.37 -1.70 7.81 9.04 1.62 3.22 -5.05 -1.69 -2.28 -3.14 -7.81 -1.62 4.29
2007 -4.58 5.89 3.54 2.23 -1.19 1.09 2.31 9.94 4.67 10.69 4.97 13.35 65.65
2006 1.57 4.43 3.47 -0.19 9.54
Note: Estimates appear in italics. All performance data is since program inception.
Strategy Description

The Aventis Edge is achieved through a team of commodity market specialists with over 75 years of combined experience and success analyzing and trading in the cash and futures markets. This experience drives a rigorous research process that not only provides an understanding of the fundamental supply and demand dynamics of the markets it trades, but also how market psychology and positioning will affect pricing behavior. The Aventis Edge also includes the use of proprietary technical indicators in analyzing markets to assist in executing the trading strategy; and its Edge is further demonstrated by its expertise in trade application and the ability to profit on trade ideas using futures, spreads and option strategies. Approximately 40-50% of the strategy is spread based (relative value) including calendar, inter-market, inter-commodity and option spreads; 40-50% of the strategy is directional in nature utilizing futures, spreads, and options; and 5%-10% of the strategy is involved in short term trading.

Performance Statistics
Date Range: 08/06 - 11/17
  Program SP500 TR Altegris 40
Total Return 141.83% 164.38% 37.28%
Annualized Return 8.17% 8.96% 2.84%
Annualized Std. Deviation 11.20% 14.41% 9.04%
Correlation 0.08 0.00
Sharpe Ratio (rf=2.5%) 0.51 0.45 0.04
Worst Month -7.81% -16.79% -5.20%
Date of Worst Month 11/2008 10/2008 06/2015
Worst Drawdown -20.86% -50.95% -15.74%
Date of Worst Drawdown 6/08 - 2/09 10/07 - 2/09 4/11 - 9/13
Note: Estimates appear in italics. All performance data is since program inception.
Annual Performance (%)
Date Range: 08/06 - 11/17
Year or YTD Program SP500 TR Altegris 40
2017 -3.57 20.51 0.15
2016 7.33 11.98 -3.13
2015 -7.42 1.41 0.09
2014 -1.60 13.69 15.75
2013 1.38 32.41 -2.45
2012 -2.24 15.98 -4.75
2011 6.82 2.12 -3.23
2010 25.66 15.06 11.33
2009 1.87 26.45 -7.98
2008 4.29 -36.99 15.47
2007 65.65 5.50 7.18
2006 9.54 9.45 5.94
Note: Estimates appear in italics. All performance data is since program inception.
Performance Comparison
Date Range: 08/06 - 11/17
Date: 11/30/2017
Perf: $1,357.59 Date: 10/31/2017
Perf: $1,355.83 Date: 9/30/2017
Perf: $1,301.30 Date: 8/31/2017
Perf: $1,329.35 Date: 7/31/2017
Perf: $1,307.65 Date: 6/30/2017
Perf: $1,302.57 Date: 5/31/2017
Perf: $1,341.74 Date: 4/30/2017
Perf: $1,339.20 Date: 3/31/2017
Perf: $1,347.28 Date: 2/28/2017
Perf: $1,367.25 Date: 1/31/2017
Perf: $1,338.08 Date: 12/31/2016
Perf: $1,355.56 Date: 11/30/2016
Perf: $1,345.34 Date: 10/31/2016
Perf: $1,360.30 Date: 9/30/2016
Perf: $1,396.33 Date: 8/31/2016
Perf: $1,414.57 Date: 7/31/2016
Perf: $1,453.68 Date: 6/30/2016
Perf: $1,439.00 Date: 5/31/2016
Perf: $1,380.34 Date: 4/30/2016
Perf: $1,404.92 Date: 3/31/2016
Perf: $1,441.09 Date: 2/29/2016
Perf: $1,483.67 Date: 1/31/2016
Perf: $1,448.05 Date: 12/31/2015
Perf: $1,399.36 Date: 11/30/2015
Perf: $1,432.30 Date: 10/31/2015
Perf: $1,385.07 Date: 9/30/2015
Perf: $1,409.59 Date: 8/31/2015
Perf: $1,379.66 Date: 7/31/2015
Perf: $1,403.94 Date: 6/30/2015
Perf: $1,351.12 Date: 5/31/2015
Perf: $1,425.23 Date: 4/30/2015
Perf: $1,435.56 Date: 3/31/2015
Perf: $1,493.20 Date: 2/28/2015
Perf: $1,460.91 Date: 1/31/2015
Perf: $1,463.26 Date: 12/31/2014
Perf: $1,398.10 Date: 11/30/2014
Perf: $1,373.92 Date: 10/31/2014
Perf: $1,296.77 Date: 9/30/2014
Perf: $1,277.98 Date: 8/31/2014
Perf: $1,259.22 Date: 7/31/2014
Perf: $1,208.11 Date: 6/30/2014
Perf: $1,217.86 Date: 5/31/2014
Perf: $1,207.47 Date: 4/30/2014
Perf: $1,177.33 Date: 3/31/2014
Perf: $1,168.45 Date: 2/28/2014
Perf: $1,186.01 Date: 1/31/2014
Perf: $1,176.36 Date: 12/31/2013
Perf: $1,207.88 Date: 11/30/2013
Perf: $1,209.58 Date: 10/31/2013
Perf: $1,188.07 Date: 9/30/2013
Perf: $1,161.48 Date: 8/31/2013
Perf: $1,168.49 Date: 7/31/2013
Perf: $1,191.36 Date: 6/30/2013
Perf: $1,201.82 Date: 5/31/2013
Perf: $1,249.16 Date: 4/30/2013
Perf: $1,305.29 Date: 3/31/2013
Perf: $1,272.46 Date: 2/28/2013
Perf: $1,254.39 Date: 1/31/2013
Perf: $1,261.71 Date: 12/31/2012
Perf: $1,238.19 Date: 11/30/2012
Perf: $1,232.15 Date: 10/31/2012
Perf: $1,228.71 Date: 9/30/2012
Perf: $1,274.86 Date: 8/31/2012
Perf: $1,296.25 Date: 7/31/2012
Perf: $1,314.12 Date: 6/30/2012
Perf: $1,262.48 Date: 5/31/2012
Perf: $1,311.81 Date: 4/30/2012
Perf: $1,287.35 Date: 3/31/2012
Perf: $1,279.67 Date: 2/29/2012
Perf: $1,309.39 Date: 1/31/2012
Perf: $1,304.05 Date: 12/31/2011
Perf: $1,299.89 Date: 11/30/2011
Perf: $1,287.53 Date: 10/31/2011
Perf: $1,283.68 Date: 9/30/2011
Perf: $1,336.61 Date: 8/31/2011
Perf: $1,337.41 Date: 7/31/2011
Perf: $1,340.09 Date: 6/30/2011
Perf: $1,293.65 Date: 5/31/2011
Perf: $1,328.18 Date: 4/30/2011
Perf: $1,378.49 Date: 3/31/2011
Perf: $1,326.75 Date: 2/28/2011
Perf: $1,347.37 Date: 1/31/2011
Perf: $1,324.84 Date: 12/31/2010
Perf: $1,343.25 Date: 11/30/2010
Perf: $1,287.99 Date: 10/31/2010
Perf: $1,335.26 Date: 9/30/2010
Perf: $1,285.39 Date: 8/31/2010
Perf: $1,262.41 Date: 7/31/2010
Perf: $1,212.22 Date: 6/30/2010
Perf: $1,228.07 Date: 5/31/2010
Perf: $1,223.42 Date: 4/30/2010
Perf: $1,253.76 Date: 3/31/2010
Perf: $1,234.74 Date: 2/28/2010
Perf: $1,187.60 Date: 1/31/2010
Perf: $1,176.54 Date: 12/31/2009
Perf: $1,206.58 Date: 11/30/2009
Perf: $1,256.85 Date: 10/31/2009
Perf: $1,208.16 Date: 9/30/2009
Perf: $1,239.91 Date: 8/31/2009
Perf: $1,211.08 Date: 7/31/2009
Perf: $1,207.10 Date: 6/30/2009
Perf: $1,208.43 Date: 5/31/2009
Perf: $1,241.45 Date: 4/30/2009
Perf: $1,224.55 Date: 3/31/2009
Perf: $1,265.95 Date: 2/28/2009
Perf: $1,302.01 Date: 1/31/2009
Perf: $1,302.67 Date: 12/31/2008
Perf: $1,311.19 Date: 11/30/2008
Perf: $1,278.34 Date: 10/31/2008
Perf: $1,233.08 Date: 9/30/2008
Perf: $1,172.69 Date: 8/31/2008
Perf: $1,170.23 Date: 7/31/2008
Perf: $1,202.33 Date: 6/30/2008
Perf: $1,260.17 Date: 5/31/2008
Perf: $1,227.40 Date: 4/30/2008
Perf: $1,202.63 Date: 3/31/2008
Perf: $1,216.62 Date: 2/29/2008
Perf: $1,222.00 Date: 1/31/2008
Perf: $1,156.21 Date: 12/31/2007
Perf: $1,135.54 Date: 11/30/2007
Perf: $1,138.16 Date: 10/31/2007
Perf: $1,145.61 Date: 9/30/2007
Perf: $1,098.27 Date: 8/31/2007
Perf: $1,049.27 Date: 7/31/2007
Perf: $1,089.92 Date: 6/30/2007
Perf: $1,124.68 Date: 5/31/2007
Perf: $1,093.09 Date: 4/30/2007
Perf: $1,055.41 Date: 3/31/2007
Perf: $1,012.87 Date: 2/28/2007
Perf: $1,037.14 Date: 1/31/2007
Perf: $1,077.54 Date: 12/31/2006
Perf: $1,059.43 Date: 11/30/2006
Perf: $1,024.79 Date: 10/31/2006
Perf: $1,000.28 Date: 9/30/2006
Perf: $989.40 Date: 8/31/2006
Perf: $1,000.00 Date: 11/30/2017
Perf: $2,582.36 Date: 10/31/2017
Perf: $2,505.44 Date: 9/30/2017
Perf: $2,448.39 Date: 8/31/2017
Perf: $2,398.97 Date: 7/31/2017
Perf: $2,391.56 Date: 6/30/2017
Perf: $2,343.29 Date: 5/31/2017
Perf: $2,328.85 Date: 4/30/2017
Perf: $2,296.47 Date: 3/31/2017
Perf: $2,273.06 Date: 2/28/2017
Perf: $2,270.33 Date: 1/31/2017
Perf: $2,183.64 Date: 12/31/2016
Perf: $2,142.93 Date: 11/30/2016
Perf: $2,101.32 Date: 10/31/2016
Perf: $2,026.35 Date: 9/30/2016
Perf: $2,063.91 Date: 8/31/2016
Perf: $2,063.50 Date: 7/31/2016
Perf: $2,060.61 Date: 6/30/2016
Perf: $1,987.28 Date: 5/31/2016
Perf: $1,982.13 Date: 4/30/2016
Perf: $1,947.08 Date: 3/31/2016
Perf: $1,939.52 Date: 2/29/2016
Perf: $1,816.37 Date: 1/31/2016
Perf: $1,818.73 Date: 12/31/2015
Perf: $1,913.65 Date: 11/30/2015
Perf: $1,944.37 Date: 10/31/2015
Perf: $1,938.55 Date: 9/30/2015
Perf: $1,787.67 Date: 8/31/2015
Perf: $1,832.95 Date: 7/31/2015
Perf: $1,950.57 Date: 6/30/2015
Perf: $1,910.45 Date: 5/31/2015
Perf: $1,948.24 Date: 4/30/2015
Perf: $1,923.43 Date: 3/31/2015
Perf: $1,905.14 Date: 2/28/2015
Perf: $1,935.73 Date: 1/31/2015
Perf: $1,830.47 Date: 12/31/2014
Perf: $1,887.09 Date: 11/30/2014
Perf: $1,891.82 Date: 10/31/2014
Perf: $1,842.26 Date: 9/30/2014
Perf: $1,798.38 Date: 8/31/2014
Perf: $1,823.91 Date: 7/31/2014
Perf: $1,753.76 Date: 6/30/2014
Perf: $1,778.30 Date: 5/31/2014
Perf: $1,742.24 Date: 4/30/2014
Perf: $1,702.24 Date: 3/31/2014
Perf: $1,689.73 Date: 2/28/2014
Perf: $1,675.66 Date: 1/31/2014
Perf: $1,602.43 Date: 12/31/2013
Perf: $1,659.86 Date: 11/30/2013
Perf: $1,618.90 Date: 10/31/2013
Perf: $1,570.98 Date: 9/30/2013
Perf: $1,501.90 Date: 8/31/2013
Perf: $1,456.17 Date: 7/31/2013
Perf: $1,499.66 Date: 6/30/2013
Perf: $1,427.03 Date: 5/31/2013
Perf: $1,446.41 Date: 4/30/2013
Perf: $1,413.34 Date: 3/31/2013
Perf: $1,386.58 Date: 2/28/2013
Perf: $1,336.46 Date: 1/31/2013
Perf: $1,318.53 Date: 12/31/2012
Perf: $1,253.59 Date: 11/30/2012
Perf: $1,242.29 Date: 10/31/2012
Perf: $1,235.12 Date: 9/30/2012
Perf: $1,258.40 Date: 8/31/2012
Perf: $1,226.75 Date: 7/31/2012
Perf: $1,199.76 Date: 6/30/2012
Perf: $1,183.31 Date: 5/31/2012
Perf: $1,136.49 Date: 4/30/2012
Perf: $1,209.16 Date: 3/31/2012
Perf: $1,216.82 Date: 2/29/2012
Perf: $1,178.06 Date: 1/31/2012
Perf: $1,129.28 Date: 12/31/2011
Perf: $1,080.86 Date: 11/30/2011
Perf: $1,069.94 Date: 10/31/2011
Perf: $1,072.30 Date: 9/30/2011
Perf: $966.65 Date: 8/31/2011
Perf: $1,039.74 Date: 7/31/2011
Perf: $1,099.44 Date: 6/30/2011
Perf: $1,122.22 Date: 5/31/2011
Perf: $1,141.28 Date: 4/30/2011
Perf: $1,154.33 Date: 3/31/2011
Perf: $1,121.14 Date: 2/28/2011
Perf: $1,120.69 Date: 1/31/2011
Perf: $1,083.53 Date: 12/31/2010
Perf: $1,058.44 Date: 11/30/2010
Perf: $992.17 Date: 10/31/2010
Perf: $992.07 Date: 9/30/2010
Perf: $955.66 Date: 8/31/2010
Perf: $877.39 Date: 7/31/2010
Perf: $918.83 Date: 6/30/2010
Perf: $858.64 Date: 5/31/2010
Perf: $906.03 Date: 4/30/2010
Perf: $984.70 Date: 3/31/2010
Perf: $969.39 Date: 2/28/2010
Perf: $914.26 Date: 1/31/2010
Perf: $886.77 Date: 12/31/2009
Perf: $919.88 Date: 11/30/2009
Perf: $902.47 Date: 10/31/2009
Perf: $851.38 Date: 9/30/2009
Perf: $867.52 Date: 8/31/2009
Perf: $836.32 Date: 7/31/2009
Perf: $807.18 Date: 6/30/2009
Perf: $750.45 Date: 5/31/2009
Perf: $748.95 Date: 4/30/2009
Perf: $709.30 Date: 3/31/2009
Perf: $647.35 Date: 2/28/2009
Perf: $595.21 Date: 1/31/2009
Perf: $666.16 Date: 12/31/2008
Perf: $727.48 Date: 11/30/2008
Perf: $719.85 Date: 10/31/2008
Perf: $775.54 Date: 9/30/2008
Perf: $932.02 Date: 8/31/2008
Perf: $1,023.19 Date: 7/31/2008
Perf: $1,008.57 Date: 6/30/2008
Perf: $1,017.11 Date: 5/31/2008
Perf: $1,110.74 Date: 4/30/2008
Perf: $1,096.49 Date: 3/31/2008
Perf: $1,045.57 Date: 2/29/2008
Perf: $1,050.09 Date: 1/31/2008
Perf: $1,085.36 Date: 12/31/2007
Perf: $1,154.64 Date: 11/30/2007
Perf: $1,162.66 Date: 10/31/2007
Perf: $1,213.38 Date: 9/30/2007
Perf: $1,194.39 Date: 8/31/2007
Perf: $1,151.33 Date: 7/31/2007
Perf: $1,134.32 Date: 6/30/2007
Perf: $1,170.60 Date: 5/31/2007
Perf: $1,190.36 Date: 4/30/2007
Perf: $1,150.22 Date: 3/31/2007
Perf: $1,101.43 Date: 2/28/2007
Perf: $1,089.23 Date: 1/31/2007
Perf: $1,111.00 Date: 12/31/2006
Perf: $1,094.48 Date: 11/30/2006
Perf: $1,079.37 Date: 10/31/2006
Perf: $1,059.24 Date: 9/30/2006
Perf: $1,025.80 Date: 8/31/2006
Perf: $1,000.00 Date: 11/30/2017
Perf: $2,418.29 Date: 10/31/2017
Perf: $2,447.16 Date: 9/30/2017
Perf: $2,491.26 Date: 8/31/2017
Perf: $2,491.26 Date: 7/31/2017
Perf: $2,503.02 Date: 6/30/2017
Perf: $2,422.59 Date: 5/31/2017
Perf: $2,487.26 Date: 4/30/2017
Perf: $2,473.41 Date: 3/31/2017
Perf: $2,468.72 Date: 2/28/2017
Perf: $2,454.97 Date: 1/31/2017
Perf: $2,514.05 Date: 12/31/2016
Perf: $2,507.78 Date: 11/30/2016
Perf: $2,430.02 Date: 10/31/2016
Perf: $2,463.03 Date: 9/30/2016
Perf: $2,554.21 Date: 8/31/2016
Perf: $2,536.46 Date: 7/31/2016
Perf: $2,584.53 Date: 6/30/2016
Perf: $2,713.13 Date: 5/31/2016
Perf: $2,490.25 Date: 4/30/2016
Perf: $2,465.60 Date: 3/31/2016
Perf: $2,363.04 Date: 2/29/2016
Perf: $2,295.33 Date: 1/31/2016
Perf: $2,306.40 Date: 12/31/2015
Perf: $2,336.54 Date: 11/30/2015
Perf: $2,344.75 Date: 10/31/2015
Perf: $2,415.28 Date: 9/30/2015
Perf: $2,437.70 Date: 8/31/2015
Perf: $2,485.17 Date: 7/31/2015
Perf: $2,539.26 Date: 6/30/2015
Perf: $2,543.58 Date: 5/31/2015
Perf: $2,587.04 Date: 4/30/2015
Perf: $2,603.44 Date: 3/31/2015
Perf: $2,577.67 Date: 2/28/2015
Perf: $2,576.64 Date: 1/31/2015
Perf: $2,580.51 Date: 12/31/2014
Perf: $2,523.72 Date: 11/30/2014
Perf: $2,589.76 Date: 10/31/2014
Perf: $2,565.39 Date: 9/30/2014
Perf: $2,621.76 Date: 8/31/2014
Perf: $2,594.52 Date: 7/31/2014
Perf: $2,580.58 Date: 6/30/2014
Perf: $2,526.02 Date: 5/31/2014
Perf: $2,492.86 Date: 4/30/2014
Perf: $2,460.87 Date: 3/31/2014
Perf: $2,493.54 Date: 2/28/2014
Perf: $2,504.31 Date: 1/31/2014
Perf: $2,571.16 Date: 12/31/2013
Perf: $2,564.74 Date: 11/30/2013
Perf: $2,500.48 Date: 10/31/2013
Perf: $2,516.34 Date: 9/30/2013
Perf: $2,513.32 Date: 8/31/2013
Perf: $2,474.96 Date: 7/31/2013
Perf: $2,544.68 Date: 6/30/2013
Perf: $2,483.34 Date: 5/31/2013
Perf: $2,442.07 Date: 4/30/2013
Perf: $2,584.75 Date: 3/31/2013
Perf: $2,571.38 Date: 2/28/2013
Perf: $2,582.48 Date: 1/31/2013
Perf: $2,529.86 Date: 12/31/2012
Perf: $2,529.86 Date: 11/30/2012
Perf: $2,561.63 Date: 10/31/2012
Perf: $2,580.98 Date: 9/30/2012
Perf: $2,688.53 Date: 8/31/2012
Perf: $2,689.87 Date: 7/31/2012
Perf: $2,682.89 Date: 6/30/2012
Perf: $2,621.29 Date: 5/31/2012
Perf: $2,556.86 Date: 4/30/2012
Perf: $2,622.69 Date: 3/31/2012
Perf: $2,595.95 Date: 2/29/2012
Perf: $2,604.55 Date: 1/31/2012
Perf: $2,602.73 Date: 12/31/2011
Perf: $2,587.72 Date: 11/30/2011
Perf: $2,670.50 Date: 10/31/2011
Perf: $2,656.95 Date: 9/30/2011
Perf: $2,634.04 Date: 8/31/2011
Perf: $2,731.55 Date: 7/31/2011
Perf: $2,693.57 Date: 6/30/2011
Perf: $2,684.18 Date: 5/31/2011
Perf: $2,721.19 Date: 4/30/2011
Perf: $2,610.75 Date: 3/31/2011
Perf: $2,536.68 Date: 2/28/2011
Perf: $2,470.23 Date: 1/31/2011
Perf: $2,477.42 Date: 12/31/2010
Perf: $2,422.43 Date: 11/30/2010
Perf: $2,334.42 Date: 10/31/2010
Perf: $2,320.50 Date: 9/30/2010
Perf: $2,251.82 Date: 8/31/2010
Perf: $2,173.57 Date: 7/31/2010
Perf: $2,128.44 Date: 6/30/2010
Perf: $2,156.04 Date: 5/31/2010
Perf: $2,007.11 Date: 4/30/2010
Perf: $1,950.55 Date: 3/31/2010
Perf: $1,919.64 Date: 2/28/2010
Perf: $1,995.88 Date: 1/31/2010
Perf: $1,925.60 Date: 12/31/2009
Perf: $1,927.72 Date: 11/30/2009
Perf: $1,895.50 Date: 10/31/2009
Perf: $1,931.62 Date: 9/30/2009
Perf: $1,917.05 Date: 8/31/2009
Perf: $1,879.64 Date: 7/31/2009
Perf: $1,911.76 Date: 6/30/2009
Perf: $1,955.17 Date: 5/31/2009
Perf: $1,932.56 Date: 4/30/2009
Perf: $1,929.08 Date: 3/31/2009
Perf: $1,900.01 Date: 2/28/2009
Perf: $1,868.99 Date: 1/31/2009
Perf: $1,954.39 Date: 12/31/2008
Perf: $1,892.33 Date: 11/30/2008
Perf: $1,923.49 Date: 10/31/2008
Perf: $2,086.44 Date: 9/30/2008
Perf: $2,154.08 Date: 8/31/2008
Perf: $2,204.33 Date: 7/31/2008
Perf: $2,242.23 Date: 6/30/2008
Perf: $2,361.48 Date: 5/31/2008
Perf: $2,287.82 Date: 4/30/2008
Perf: $2,251.34 Date: 3/31/2008
Perf: $2,064.69 Date: 2/29/2008
Perf: $1,915.12 Date: 1/31/2008
Perf: $1,948.24 Date: 12/31/2007
Perf: $1,814.51 Date: 11/30/2007
Perf: $1,600.81 Date: 10/31/2007
Perf: $1,525.01 Date: 9/30/2007
Perf: $1,377.73 Date: 8/31/2007
Perf: $1,316.26 Date: 7/31/2007
Perf: $1,197.26 Date: 6/30/2007
Perf: $1,170.22 Date: 5/31/2007
Perf: $1,157.61 Date: 4/30/2007
Perf: $1,171.55 Date: 3/31/2007
Perf: $1,145.99 Date: 2/28/2007
Perf: $1,106.81 Date: 1/31/2007
Perf: $1,045.25 Date: 12/31/2006
Perf: $1,095.42 Date: 11/30/2006
Perf: $1,097.50 Date: 10/31/2006
Perf: $1,060.70 Date: 9/30/2006
Perf: $1,015.70 Date: 8/31/2006
Perf: $1,000.00
Note: All performance data is since program inception.

Monthly Returns
Date Range: 08/06 - 11/17
Date: 11/30/2017
Return: -1.18 % Date: 10/31/2017
Return: -1.77 % Date: 9/30/2017
Return: 0.00 % Date: 8/31/2017
Return: -0.47 % Date: 7/31/2017
Return: 3.32 % Date: 6/30/2017
Return: -2.60 % Date: 5/31/2017
Return: 0.56 % Date: 4/30/2017
Return: 0.19 % Date: 3/31/2017
Return: 0.56 % Date: 2/28/2017
Return: -2.35 % Date: 1/31/2017
Return: 0.25 % Date: 12/31/2016
Return: 3.20 % Date: 11/30/2016
Return: -1.34 % Date: 10/31/2016
Return: -3.57 % Date: 9/30/2016
Return: 0.70 % Date: 8/31/2016
Return: -1.86 % Date: 7/31/2016
Return: -4.74 % Date: 6/30/2016
Return: 8.95 % Date: 5/31/2016
Return: 1.00 % Date: 4/30/2016
Return: 4.34 % Date: 3/31/2016
Return: 2.95 % Date: 2/29/2016
Return: -0.48 % Date: 1/31/2016
Return: -1.29 % Date: 12/31/2015
Return: -0.35 % Date: 11/30/2015
Return: -2.92 % Date: 10/31/2015
Return: -0.92 % Date: 9/30/2015
Return: -1.91 % Date: 8/31/2015
Return: -2.13 % Date: 7/31/2015
Return: -0.17 % Date: 6/30/2015
Return: -1.68 % Date: 5/31/2015
Return: -0.63 % Date: 4/30/2015
Return: 1.00 % Date: 3/31/2015
Return: 0.04 % Date: 2/28/2015
Return: -0.15 % Date: 1/31/2015
Return: 2.25 % Date: 12/31/2014
Return: -2.55 % Date: 11/30/2014
Return: 0.95 % Date: 10/31/2014
Return: -2.15 % Date: 9/30/2014
Return: 1.05 % Date: 8/31/2014
Return: 0.54 % Date: 7/31/2014
Return: 2.16 % Date: 6/30/2014
Return: 1.33 % Date: 5/31/2014
Return: 1.30 % Date: 4/30/2014
Return: -1.31 % Date: 3/31/2014
Return: -0.43 % Date: 2/28/2014
Return: -2.60 % Date: 1/31/2014
Return: 0.25 % Date: 12/31/2013
Return: 2.57 % Date: 11/30/2013
Return: -0.63 % Date: 10/31/2013
Return: 0.12 % Date: 9/30/2013
Return: 1.55 % Date: 8/31/2013
Return: -2.74 % Date: 7/31/2013
Return: 2.47 % Date: 6/30/2013
Return: 1.69 % Date: 5/31/2013
Return: -5.52 % Date: 4/30/2013
Return: 0.52 % Date: 3/31/2013
Return: -0.43 % Date: 2/28/2013
Return: 2.08 % Date: 1/31/2013
Return: 0.00 % Date: 12/31/2012
Return: -1.24 % Date: 11/30/2012
Return: -0.75 % Date: 10/31/2012
Return: -4.00 % Date: 9/30/2012
Return: -0.05 % Date: 8/31/2012
Return: 0.26 % Date: 7/31/2012
Return: 2.35 % Date: 6/30/2012
Return: 2.52 % Date: 5/31/2012
Return: -2.51 % Date: 4/30/2012
Return: 1.03 % Date: 3/31/2012
Return: -0.33 % Date: 2/29/2012
Return: 0.07 % Date: 1/31/2012
Return: 0.58 % Date: 12/31/2011
Return: -3.10 % Date: 11/30/2011
Return: 0.51 % Date: 10/31/2011
Return: 0.87 % Date: 9/30/2011
Return: -3.57 % Date: 8/31/2011
Return: 1.41 % Date: 7/31/2011
Return: 0.35 % Date: 6/30/2011
Return: -1.36 % Date: 5/31/2011
Return: 4.23 % Date: 4/30/2011
Return: 2.92 % Date: 3/31/2011
Return: 2.69 % Date: 2/28/2011
Return: -0.29 % Date: 1/31/2011
Return: 2.27 % Date: 12/31/2010
Return: 3.77 % Date: 11/30/2010
Return: 0.60 % Date: 10/31/2010
Return: 3.05 % Date: 9/30/2010
Return: 3.60 % Date: 8/31/2010
Return: 2.12 % Date: 7/31/2010
Return: -1.28 % Date: 6/30/2010
Return: 7.42 % Date: 5/31/2010
Return: 2.90 % Date: 4/30/2010
Return: 1.61 % Date: 3/31/2010
Return: -3.82 % Date: 2/28/2010
Return: 3.65 % Date: 1/31/2010
Return: -0.11 % Date: 12/31/2009
Return: 1.70 % Date: 11/30/2009
Return: -1.87 % Date: 10/31/2009
Return: 0.76 % Date: 9/30/2009
Return: 1.99 % Date: 8/31/2009
Return: -1.68 % Date: 7/31/2009
Return: -2.22 % Date: 6/30/2009
Return: 1.17 % Date: 5/31/2009
Return: 0.18 % Date: 4/30/2009
Return: 1.53 % Date: 3/31/2009
Return: 1.66 % Date: 2/28/2009
Return: -4.37 % Date: 1/31/2009
Return: 3.28 % Date: 12/31/2008
Return: -1.62 % Date: 11/30/2008
Return: -7.81 % Date: 10/31/2008
Return: -3.14 % Date: 9/30/2008
Return: -2.28 % Date: 8/31/2008
Return: -1.69 % Date: 7/31/2008
Return: -5.05 % Date: 6/30/2008
Return: 3.22 % Date: 5/31/2008
Return: 1.62 % Date: 4/30/2008
Return: 9.04 % Date: 3/31/2008
Return: 7.81 % Date: 2/29/2008
Return: -1.70 % Date: 1/31/2008
Return: 7.37 % Date: 12/31/2007
Return: 13.35 % Date: 11/30/2007
Return: 4.97 % Date: 10/31/2007
Return: 10.69 % Date: 9/30/2007
Return: 4.67 % Date: 8/31/2007
Return: 9.94 % Date: 7/31/2007
Return: 2.31 % Date: 6/30/2007
Return: 1.09 % Date: 5/31/2007
Return: -1.19 % Date: 4/30/2007
Return: 2.23 % Date: 3/31/2007
Return: 3.54 % Date: 2/28/2007
Return: 5.89 % Date: 1/31/2007
Return: -4.58 % Date: 12/31/2006
Return: -0.19 % Date: 11/30/2006
Return: 3.47 % Date: 10/31/2006
Return: 4.43 % Date: 9/30/2006
Return: 1.57 % Date: 8/31/2006
Return: 0.00 %
Note: All performance data is since program inception.

Distribution of Monthly Returns
Date Range: 08/06 - 11/17
Return: -6.00 %
Count: 1 Return: -4.00 %
Count: 5 Return: -8.00 %
Count: 1 Return: -3.00 %
Count: 8 Return: 9.00 %
Count: 2 Return: 8.00 %
Count: 1 Return: -2.00 %
Count: 14 Return: 7.00 %
Count: 2 Return: 13.00 %
Count: 1 Return: 11.00 %
Count: 1 Return: 5.00 %
Count: 2 Return: 10.00 %
Count: 1 Return: 1.00 %
Count: 20 Return: -1.00 %
Count: 12 Return: 6.00 %
Count: 1 Return: -5.00 %
Count: 3 Return: 3.00 %
Count: 12 Return: 4.00 %
Count: 7 Return: 2.00 %
Count: 18 Return: 0.00 %
Count: 24
Note: All performance data is since program inception.

Underwater Curve
Date Range: 08/06 - 11/17
Date: 11/30/2017
Drawdown: -11.47 % Date: 10/31/2017
Drawdown: -10.41 % Date: 9/30/2017
Drawdown: -8.80 % Date: 8/31/2017
Drawdown: -8.80 % Date: 7/31/2017
Drawdown: -8.37 % Date: 6/30/2017
Drawdown: -11.31 % Date: 5/31/2017
Drawdown: -8.94 % Date: 4/30/2017
Drawdown: -9.45 % Date: 3/31/2017
Drawdown: -9.62 % Date: 2/28/2017
Drawdown: -10.13 % Date: 1/31/2017
Drawdown: -7.96 % Date: 12/31/2016
Drawdown: -8.19 % Date: 11/30/2016
Drawdown: -11.04 % Date: 10/31/2016
Drawdown: -9.83 % Date: 9/30/2016
Drawdown: -6.49 % Date: 8/31/2016
Drawdown: -7.14 % Date: 7/31/2016
Drawdown: -5.38 % Date: 6/30/2016
Drawdown: -0.67 % Date: 5/31/2016
Drawdown: -8.83 % Date: 4/30/2016
Drawdown: -9.74 % Date: 3/31/2016
Drawdown: -13.49 % Date: 2/29/2016
Drawdown: -15.97 % Date: 1/31/2016
Drawdown: -15.56 % Date: 12/31/2015
Drawdown: -14.46 % Date: 11/30/2015
Drawdown: -14.16 % Date: 10/31/2015
Drawdown: -11.58 % Date: 9/30/2015
Drawdown: -10.76 % Date: 8/31/2015
Drawdown: -9.02 % Date: 7/31/2015
Drawdown: -7.04 % Date: 6/30/2015
Drawdown: -6.88 % Date: 5/31/2015
Drawdown: -5.29 % Date: 4/30/2015
Drawdown: -4.69 % Date: 3/31/2015
Drawdown: -5.63 % Date: 2/28/2015
Drawdown: -5.67 % Date: 1/31/2015
Drawdown: -5.53 % Date: 12/31/2014
Drawdown: -7.61 % Date: 11/30/2014
Drawdown: -5.19 % Date: 10/31/2014
Drawdown: -6.08 % Date: 9/30/2014
Drawdown: -4.02 % Date: 8/31/2014
Drawdown: -5.02 % Date: 7/31/2014
Drawdown: -5.53 % Date: 6/30/2014
Drawdown: -7.52 % Date: 5/31/2014
Drawdown: -8.74 % Date: 4/30/2014
Drawdown: -9.91 % Date: 3/31/2014
Drawdown: -8.71 % Date: 2/28/2014
Drawdown: -8.32 % Date: 1/31/2014
Drawdown: -5.87 % Date: 12/31/2013
Drawdown: -6.11 % Date: 11/30/2013
Drawdown: -8.46 % Date: 10/31/2013
Drawdown: -7.88 % Date: 9/30/2013
Drawdown: -7.99 % Date: 8/31/2013
Drawdown: -9.39 % Date: 7/31/2013
Drawdown: -6.84 % Date: 6/30/2013
Drawdown: -9.09 % Date: 5/31/2013
Drawdown: -10.60 % Date: 4/30/2013
Drawdown: -5.37 % Date: 3/31/2013
Drawdown: -5.86 % Date: 2/28/2013
Drawdown: -5.46 % Date: 1/31/2013
Drawdown: -7.38 % Date: 12/31/2012
Drawdown: -7.38 % Date: 11/30/2012
Drawdown: -6.22 % Date: 10/31/2012
Drawdown: -5.51 % Date: 9/30/2012
Drawdown: -1.58 % Date: 8/31/2012
Drawdown: -1.53 % Date: 7/31/2012
Drawdown: -1.78 % Date: 6/30/2012
Drawdown: -4.04 % Date: 5/31/2012
Drawdown: -6.40 % Date: 4/30/2012
Drawdown: -3.99 % Date: 3/31/2012
Drawdown: -4.96 % Date: 2/29/2012
Drawdown: -4.65 % Date: 1/31/2012
Drawdown: -4.72 % Date: 12/31/2011
Drawdown: -5.27 % Date: 11/30/2011
Drawdown: -2.23 % Date: 10/31/2011
Drawdown: -2.73 % Date: 9/30/2011
Drawdown: -3.57 % Date: 8/31/2011
Drawdown: 0.00 % Date: 7/31/2011
Drawdown: -1.01 % Date: 6/30/2011
Drawdown: -1.36 % Date: 5/31/2011
Drawdown: 0.00 % Date: 4/30/2011
Drawdown: 0.00 % Date: 3/31/2011
Drawdown: 0.00 % Date: 2/28/2011
Drawdown: -0.29 % Date: 1/31/2011
Drawdown: 0.00 % Date: 12/31/2010
Drawdown: 0.00 % Date: 11/30/2010
Drawdown: -1.15 % Date: 10/31/2010
Drawdown: -1.74 % Date: 9/30/2010
Drawdown: -4.64 % Date: 8/31/2010
Drawdown: -7.96 % Date: 7/31/2010
Drawdown: -9.87 % Date: 6/30/2010
Drawdown: -8.70 % Date: 5/31/2010
Drawdown: -15.01 % Date: 4/30/2010
Drawdown: -17.40 % Date: 3/31/2010
Drawdown: -18.71 % Date: 2/28/2010
Drawdown: -15.48 % Date: 1/31/2010
Drawdown: -18.46 % Date: 12/31/2009
Drawdown: -18.37 % Date: 11/30/2009
Drawdown: -19.73 % Date: 10/31/2009
Drawdown: -18.20 % Date: 9/30/2009
Drawdown: -18.82 % Date: 8/31/2009
Drawdown: -20.40 % Date: 7/31/2009
Drawdown: -19.04 % Date: 6/30/2009
Drawdown: -17.21 % Date: 5/31/2009
Drawdown: -18.16 % Date: 4/30/2009
Drawdown: -18.31 % Date: 3/31/2009
Drawdown: -19.54 % Date: 2/28/2009
Drawdown: -20.86 % Date: 1/31/2009
Drawdown: -17.24 % Date: 12/31/2008
Drawdown: -19.87 % Date: 11/30/2008
Drawdown: -18.55 % Date: 10/31/2008
Drawdown: -11.65 % Date: 9/30/2008
Drawdown: -8.78 % Date: 8/31/2008
Drawdown: -6.65 % Date: 7/31/2008
Drawdown: -5.05 % Date: 6/30/2008
Drawdown: 0.00 % Date: 5/31/2008
Drawdown: 0.00 % Date: 4/30/2008
Drawdown: 0.00 % Date: 3/31/2008
Drawdown: 0.00 % Date: 2/29/2008
Drawdown: -1.70 % Date: 1/31/2008
Drawdown: 0.00 % Date: 12/31/2007
Drawdown: 0.00 % Date: 11/30/2007
Drawdown: 0.00 % Date: 10/31/2007
Drawdown: 0.00 % 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: -0.11 % Date: 5/31/2007
Drawdown: -1.19 % Date: 4/30/2007
Drawdown: 0.00 % Date: 3/31/2007
Drawdown: 0.00 % Date: 2/28/2007
Drawdown: 0.00 % Date: 1/31/2007
Drawdown: -4.76 % Date: 12/31/2006
Drawdown: -0.19 % Date: 11/30/2006
Drawdown: 0.00 % Date: 10/31/2006
Drawdown: 0.00 % Date: 9/30/2006
Drawdown: 0.00 %
Note: All performance data is since program inception.
Notes to Performance

Manager Information
Manager Name:  Aventis Asset Management, LLC
Address: 959 South Coast Drive Suite 415
City: Costa Mesa
State: CA
Zip: 92626
Country: USA
Key People
Name:  Paul Kim
Position:  Principal
Biography: 

As President and Managing Member of the Manager, Mr Kim oversees all trading and is responsible for establishing and implementing trading strategy. He has been successfully trading commodity markets for outside investors since founding LaSalle Asset Management, a commodity trading advisor and commodity pool operator in 1999. Prior to 1999, Mr. Kim was an independent floor trader and broker at the CBOT from 1990 to 1998 where he focused on inter and intra market spreads. Before joining the CBOT, he was employed by Cargill Incorporated as a grain trader in various capacities from 1982 to 1989 that included: origination of grain from farmer and country elevators, trading cargoes of grain to the Far East, managing large scale premium positions, developing supply and demand scenarios and logistics of export grain elevators and execution of futures orders and developing hedging and speculative trading strategies. Mr. Kim received his B.A. in Economics and Biochemistry from Northwestern University in 1982. Mr. Kim has been the Chief Financial Officer of Misfit Financial since December 2004.


Name:  HJ Cho
Position:  Principal
Biography: 

Mr. Cho is the manager of risk and software development for Misfit Financial Group. Mr. Cho is responsible for daily monitoring of risk for all positions and for developing software programs for systematic research of trading systems. Mr. Cho has 10 years development experience in the areas of brokerage software systems and management information systems. He has a B.S. in Physics from Korea Advanced Institute of Science and Technology.


Name:  Byung Chung
Position:  Principal
Biography: 

Mr. Chung is the Managing Director of Misfit Financial Group, LLC, managing the day to day operation of the company. He is also the head of research, responsible for the development and execution of systematic trading strategies for Misfit Financial Group. Since 2004, Mr. Chung has focused on statistics and fundamental based spread trading opportunities in physical commodities. Prior to 2004, Mr. Chung was an engineering manager in the high tech industry focusing on routing and switching systems for data and voice networks. Mr. Chung has a B.S. in Electrical Engineering from Drexel University with 17 years of engineering industry experience.


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.