Global Diversified
Executive Summary
GLOBAL DIVERSIFIED is a systematic multi-strategy trading program. It invests in U.S. cash equities and trades a spectrum of futures contracts in the global markets that includes: interest rates, bonds, currencies, equity indices, energy and metals. Global Diversified is a proprietary blend of four strategies with dates of implementation as follows: (i) trend-following (inception); (ii) trend-anticipating (Global Contrarian, Oct. 2002); (iii) mean reversion (Dec. 2009); and (iv) Equity Market Neutral (Aug. 2014). The addition of each of these components is designed to reduce the volatility of returns. Global Diversified is also designed to have a low correlation with broad equity indices. Global Diversified dynamically and systematically shifts risk allocations among asset classes and underlying parameter choices. DISCLAIMER: Returns reflect reinvestment of all income/dividends and are net of all expenses, transaction costs and advisory fees including a monthly management fee and a 20% quarterly profit allocation, unless otherwise indicated. From Oct. 1993 to Dec. 1995, this management fee was between 2% and 4% per annum, and the returns shown reflect the average management fee paid. From Jan. 1996 through May 1996, the returns reflect a pro-forma management fee of 1% per annum. From June 1996 to March 2002, the returns reflect the actual performance of representative accounts and use the dollar weighted average of management fees, ranging from 1% downward, and a quarterly profit allocation, ranging from 20% downward. From March 2002 to June 2011, the returns reflect the actual performance of representative accounts and use the dollar weighted average of management fees, ranging from 2% downward, and a quarterly profit allocation, ranging from 20% downward. From July 2011 to present, the returns reflect a management fee of 2% per annum. From inception to Feb. 2002, the returns do not reflect the deduction of expenses, which would have reduced the returns shown to the extent of such expenses. The returns reflect the performance of representative accounts selected because they were fully funded in each period since inception. Prior to Mar. 2002, the selected accounts were not subject to annual audit; however, the returns from Jan. 1996 to Feb. 2002 were subject to an independent performance examination by our auditor. From Oct. 1993 to Dec. 1995, the program traded cash treasuries, thereafter the program traded an increasing spectrum of futures on global markets. U.S. cash equities were added to the program in Aug. 2014. In Oct. 2002, maximum margin-to-equity increased from 14.0% to 17.5%; with the addition of mean reversion in Dec. 2009, the maximum margin-to-equity was raised to 18.0% and with the addition of Equity Market Neutral in Aug. 2014, the maximum margin-to-equity of the futures strategies was lowered to 12.0%. This does not include the margin necessary to maintain the futures hedge for Equity Market Neutral, which is expected to range between 1 - 3% of Global Diversified's equity, but may reach higher levels. There can be no assurance that the Global Diversified Program will achieve its objective or avoid incurring substantial or total losses.
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Disclaimer Info
The performance data displayed herein is compiled from various sources, including BarclayHedge, and reports directly from the advisors. These performance figures should not be relied on independent of the individual advisor's disclosure document, which has important information regarding the method of calculation used, whether or not the performance includes proprietary results, and other important footnotes on the advisor's track record.
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