Jupiter Tactical Returns Fund, since its inception in September 2012, trades from a selection of global equity index and government bond futures.

Established in 2004, the fund management company previously traded bespoke mandates under various market and currency structures using futures and options instruments.  The Fund was seeded by a pool of private capital of which the Fund Manager has a majority holding.  It was launched in 2012 to create a 6-year, audited track record independent of the firm's bespoke mandates.  Distinct from prior mandates, the Fund trades futures and no options.

Both the firm and Jupiter Tactical Returns Fund are regulated by the National Futures Association, the enforcement arm of the Commodities and Futures Trading Commission, USA.  Both entities operate under a Section 4.7 exemption. 

Jupiter also helps allocators and investors with ESG mandates (Environmental, Social, Corporate Governance) meet those requirements.  Contact Jupiter for more information.

About

The fund manager has refined the program over 20 years of experience.  The trading program is modeled using numerical methods and analysis with discretionary trade management.  While flexible to trade long/short, the trading response adapts to evolving market dynamics and since December 2013, has employed a strategy with a bias toward long-only implementation of negative correlation trades.

 

The Fund's strategy is generally counter-trend but it does not fit neatly into any style boxes.  The blend of quantitative techniques and discretionary trade management make the program 'Quantiscretionary' with the closest accurate description being Systematic Macro. 

The strategy trades conservatively during low volatility regimes with the goal of preserving capital in order to participate in a systematic, counter-trend response to left-tail events. 

Risk boundaries are transparent, pre-defined, and stable across volatility regimes.  In market and instrument selection, the emphasis is on the strategy's liquidity preference.

Strategy

Jupiter's main goal is to harness its analytics and experience to create a profile of low beta and positive alpha.

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PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.  TRADING COMMODITY FUTURES AND OPTIONS IS SPECULATIVE, INVOLVES A SUBSTANTIAL RISK OF LOSS, AND IS NOT SUITABLE FOR ALL INVESTORS.

By design and conscious choice, Jupiter’s trading strategy does not match the returns potential of runaway bull markets or that of bubble periods in equity indices.

Jupiter is normally defensively postured during periods of low volatility, becoming the aggressor during panics.

Higher realized volatility during panics is a byproduct of the strategy’s overall position and risk management approach taken to capture the fleeting opportunities available during periods of panic. This feature is not to be confused with “higher risk”.

Performance

The goal of Jupiter’s conservative-aggressive stance is to enable it to deploy liquidity during periods of illiquidity typical of trading conditions during left-tail events.  The past 3 years have experienced a minor widening of realized deviations but the overall environment remains well below historical norms.  Therefore, recent returns reflect this environment while remaining uncorrelated to the overall equity markets.  By design and conscious choice, Jupiter’s trading strategy does not match the returns potential of runaway bull markets or that of bubble periods in equity indices.

Options are not part of the strategy and are not traded within the fund.

These are the basic performance reports for Jupiter.  Aside from the standard reports, there are a number of other reports available  as well a comparative reports that will better help understand Jupiter's value both as a standalone investment and as part of a portfolio.

PAST PERFORMANCE IS NOT NECESSARILY  INDICATIVE OF FUTURE RESULTS.  TRADING COMMODITY FUTURES AND OPTIONS IS SPECULATIVE, INVOLVES A SUBSTANTIAL RISK OF LOSS, AND IS NOT SUITABLE FOR ALL INVESTORS.

Comparative Index Information

Commodity Trader Indexes have limitations.  The returns in these indexes are voluntarily reported these indexes are the average returns of a group of CTAs, and do not reflect the entire universe of CTAs.  These indexes are for comparison purposes only and you may or may not actually be able to invest in these indexes.

 

S&P 500 Index                                                                                      

Standard and Poor's 500 Index is a capitalization-weighted index of 500 stocks. The index is designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries. The index was developed with a base level of 10 for the 1941-43 base period.

 

MSCI EAFE Index                                                                                  

The MSCI EAFE Index is a free-float weighted equity index. The index was developed with a base value of 100 as of December 31, 1969. The MSCI EAFE region covers Developed Market countries in Europe, Australasia, Israel, and the Far East.

ICE U.S. Treasury 20+ Year Bond Index - TR

The ICE U.S. Treasury 20+ Years Bond Index is part of a series of indices intended to assess U.S. Treasury issued debt. Only U.S. dollar denominated, fixed rate securities with minimum term to maturity greater than twenty years are included.


SG Short-Term Traders Index

The SG Short-Term Traders Index calculates the net daily rate of return for a group of 10 CTAs and Global Macro programs executing diversified trading strategies with an average holding period of less than 10-days, selected from the largest managers open to new investment. The SG Short-Term Traders Index is volatility-weighted and reconstituted annually and has become recognized as the key short-term trading performance benchmark. prm.indices@sgcib.com. Subject to a two day lag.

Team

Gitanshu Buch

Gitanshu Buch earned his Masters in Business Administration from a Top 5 institute in India. After 8 years in the fast-moving Consumer Products industry, he pursued a career change to remain productive through the impact of a physical disability.

Buch accepted an opportunity in the Energy complex with a NYMEX member to help establish its off-floor trading program. He analyzed seasonality in the cash flows of over 100 small refineries and under the guidance of the firm’s principals, co-developed and then traded (as a profit share) certain futures and options strategies that benefit from inefficiencies in the mismatch of demand/production cycle mainly due to seasonality in the Northern Hemisphere, product chemistry, and EPA regulations.


Buch adapted these analytics to sector and stock price movement research and invented the Market HeatMap. This was published by Microsoft as an Investment SuperModel, a collection of quantitative strategies designed to achieve uncorrelated returns. This resulted in an introduction to and subsequent employment by Mr. Victor Niederhoffer, a famed Fund Manager.

Buch was quickly made the Head of Trading Operations.  Mr. Buch was responsible for overseeing the research effort for his second book while being responsible for the risk-controlled profitability of the options trading portfolio of the funds under Mr. Niederhoffer’s management.  This occurred through the bear market of 2002-03 and the subsequent recovery until the middle of 2004.

Buch was given an independent mandate by Mr. Niederhoffer’s sponsors and established Jupiter Trading. Managing bespoke mandates in USD, EUR and GBP for underlying pension plans and insurance companies, Buch was profitable through the Financial Crisis (10/2007 – 3/2009).

Buch resigned this mandate in mid-2010 to help (pro-bono) his family and friends recoup their losses from the Financial Crisis. Having led their recovery, Jupiter Tactical Returns Fund was launched in September 2012 with some of these funds and all of Mr. Buch’s own capital.   The information in this marketing deck is solely reflective of that program.

The design of the Fund’s trading strategy reflects the resilience born of having navigated through trying personal circumstance, both the bear markets of his generation, the endurance to remain competitive during bull markets, and the flexibility to develop profitable strategies regardless of the instrument and market traded as well as a deep fundamental respect for preservation of the investor’s capital.

Fahd Hakim

Fahd joined the Firm in Oct 2004 after earning a Master’s degree in Economics from USC.  Fahd then acquired experience in Operations and Research, subsequently graduating to trading and independently managing the trading in Dax and FTSE during the Firm’s Quartet mandates (2004-10).   Co-developed the futures-only trading system used by the Fund since inception for S&P and Eurostoxx-50 Index trading. Fahd is the firm’s backup trader.  As the firm is a small company, Fahd performs many roles including assisting Craig Holliday on client services, website development and trade support.

fhakim@jtrfund.com

Phone:  646-241-6779

Craig L Holliday

With 30+ years of business experience, Craig is responsible for marketing and client services at JTRF.  After a career in the telecommunication and technology fields, Mr. Holliday has spent over a decade working in the Alternative Investment field.  Initially with two different analytical solutions providers serving Hedge Funds, FoFs, Institutions, Endowments, and Foundations.  The last four years were spent with an agricultural CTA.  Mr. Holliday earned a BA in Marketing in 1983  and an MBA in Finance in 1996 from the University of Memphis.  Mr. Holliday is registered with the NFA, has Series 3, Series 30, a Series 65 and is currently an AP of Jupiter.

cholliday@jtrfund.com

Phone:  901-230-9446

Contact

For questions, to be added to the Jupiter distribution list, or to request documents, please call or email us. Alternatively, you can fill in the contact form and we will respond very quickly.

Phone:  901.230.9446

Email:  info@jtrfund.com

Send Us a Message

901.230.9446

info@jtrfund.com

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.  TRADING COMMODITY FUTURES AND OPTIONS IS SPECULATIVE, INVOLVES A SUBSTANTIAL RISK OF LOSS, AND IS NOT SUITABLE FOR ALL INVESTORS. 

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