Best Global Macro & Managed Futures Fund, 2024

Best Global Macro & Managed Futures Fund, 2024 The team at ECCM are delighted to have been awarded Best Global Macro & Managed Futures Fund 2024 at the Australian Alternative Investment Awards!  Learn more about ECCM

Best Performing Fund over 5 Years

ECCM Systematic Trend Fund: Award Winner Gossip Column Exclusive: Aussie Turtles Team Takes Top Honour from The Hedge Fund Journal Big news from the pond! The team behind Aussie Turtles — also trading as East Coast Capital Management — has just been recognised by The Hedge Fund Journal as the Best-Performing Trend Following Fund (5-Year Track Record, AUM < $100M). This award highlights what we’ve been quietly building for years: a robust, globally diversified trend-following program that puts process before prediction. Every signal, every system, every workflow we teach in our books and courses is battle-tested in live portfolios — and this recognition is a testament to that approach. Learn more about ECCM

Rising Stars and Trend Titans – May 2025

Rising Stars and Trend Titans: May 2025 Welcome to Rising Stars and Trend Titans — your monthly lens into this dynamic space, spotlighting standout performers across the spectrum of globally diversified, rules-based trend-following programs. Introduction The world of systematic trend following remains in a defensive crouch, with May 2025 extending the pain from April’s historic rout. While this month didn’t match April’s velocity of losses, it delivered more of the same: elusive trends, sharp reversals, and a market tone that continues to punish directional conviction. In May, we evaluate the performance of 113 programs, each with a minimum five-year verified track record. Our coverage spans the spectrum: institutional titans with decades of data, and emerging managers whose resilience is carving new space on the leaderboard. Together, they offer a broad and nuanced view of what systematic trend following looks like in both feast and famine. This month, we introduce a new diagnostic lens: The Trend Environment Model Portfolio. Powered by CSI out-of-sample data and structured as an ensemble of 10 trend-following systems (ranging from short to long-term models), this aggressive portfolio tracks performance across 68 liquid futures markets. It offers allocators and researchers an objective, model-based context for the conditions faced by managers each month — acting as a climate barometer for trend durability, trend breadth, and volatility structure. May’s reading? Another difficult chapter. Only 36 of 68 markets were active, with tepid trends in equity indexes like the Nasdaq 100 and DAX offering slim positive contributions. Elsewhere, trend signals fragmented. Robusta Coffee, which once led the charge, experienced a violent reversal — a stark illustration of the whipsaws plaguing many systems. While the monthly portfolio return came in at –1.86%, it was the ongoing YTD drawdown of –12.34% that reinforced the brutal nature of 2025 to date. Context is critical. From January 2020 through to May 2025, the aggressive model portfolio delivered over +162% cumulative return, reflecting a historically favourable regime for trend following. The sharp contrast of 2025 highlights just how regime-sensitive trend following remains — thriving in persistence, struggling in chaos. This report, as always, goes beyond rankings. It tells a story — of drawdowns and discipline, of outliers and adaptation. We spotlight those managers who continue to stand tall, compound capital, and redefine robustness under pressure. Let’s assess the battlefield, revisit the benchmarks, and honour those Rising Stars and enduring Titans who continue to push the edge of what systematic trend following can achieve. Criteria for Inclusion The “Rising Stars and Trend Titans” blog evaluates globally diversified systematic trend-following programs that meet specific criteria to ensure consistency, reliability, and relevance. Here’s what makes a program eligible for inclusion: Validated Track Record:Only programs with a minimum of five years of performance history are considered. This ensures that the strategies have been tested across varying market conditions and are not short-term anomalies. Global Diversification:Programs must demonstrate diversification across multiple asset classes, including equities, fixed income, commodities, and currencies. This ensures their ability to capture trends across a wide spectrum of markets. Systematic Approach:All included programs must follow a systematic, rules-based approach to trend following, eliminating discretionary bias and focusing on process-driven decision-making. Performance Reporting:Programs must provide consistent, validated monthly performance data. The data is drawn from the widely respected Nilsson Hedge Database, ensuring accuracy and credibility. Program Scope:While established players are naturally included, we also feature rising stars who may have shorter overall histories but have achieved standout results within the five-year threshold. This focus ensures a balanced view of the established and emerging talent in the industry.   For a full listing of the programs featured in this month’s report, Database List May 2025 Trend Environment Snapshot – Powered by the CSI Model Portfolio Understanding the success or struggle of systematic trend-following managers requires more than just performance tables — it demands context. For that reason, we introduce the CSI Model Portfolio, a 68-market, out-of-sample portfolio powered by an ensemble of 10 pure trend-following systems across short, medium, and long timeframes. This model, aggressively configured to extract edge from directional persistence, serves as a diagnostic indicator for the underlying health of the trend-following regime each month. Figure 1 – May 2025 May offered little relief after April’s brutal reversal. The model posted a monthly return of –1.86%, confirming continued headwinds across the trend-following landscape. Only 36 of 68 markets were active — a narrow breadth. Of those, only a few offered meaningful contributions to the upside: NASDAQ 100 (+0.37%) led the way, with DAX (+0.18%), GBP (+0.15%), Swiss Bonds (+0.15%), and Live Cattle (+0.15%) contributing modest gains. But this small cohort of winners was overwhelmed by losses elsewhere — particularly in energy, soft commodities, and fixed income. The bottom of the chart was dominated by Robusta Coffee (–1.74%), which saw a violent trend reversal after previously being one of the strongest markets YTD. Other notable detractors included Canada Bonds (–0.38%), Crude WTI (–0.28%), and Gold (–0.26%) — all representative of failed breakouts or trend collapses.   The limited number of active signals and their low conviction (even among winners) speaks to the core challenge: in a month where trends were scarce, false starts and sharp whipsaws defined the playing field. This climate punished trend systems with exposure to extended soft commodity trades and bond reversals. Even models with typically reactive structures struggled to adjust fast enough to the shifting momentum landscape. As a standalone signal, –1.86% monthly return from this model may seem harsh — but it’s not just a number. It represents the drag imposed by trend fragility, low signal quality, and a fractured macro backdrop that continues to confound trend definitions. Spotlight: NASDAQ 100 – A Lone Trend Beacon in a Fragmented Field Among a sea of false signals and stalled trends, NASDAQ 100 futures stood out as the top-performing market in the model portfolio for May, contributing +1.11%. But its path to the top was anything but smooth. Figure 2 – Nasdaq 100 As the chart shows, the NASDAQ 100 clawed its way upward following a violent Q1 sell-off. The bounce that began in late April extended into May, allowing medium-term and reactive trend systems to re-enter long positions — or stay long through the rebound. The resulting move delivered just enough directional persistence to offer a modest payoff.

Aussie Turtles Cocktails

Aussie Turtles Cocktails An evening with, Jerry Parker, Moritz Seibert & Adam Havryliv with special guest Michael Covel At our Inaugural Aussie Turtles Event we will introduce you to: The most successful Turtle, Jerry Parker from Chesapeake Capital The 2 Quants, Moritz Seibert and Moritz Heiden from Takahe Capital Australian trend following manager, Adam Havryliv from East Coast Capital Management *** UPDATE: We are pleased to also have special guest, Michael Covel, join us for this event via live video link. Michael is a world renowned author best known for popularising the trend following trading strategy in his best selling books, Trend Following and Turtle Trader. *** Time: 6:00pm to 8.30pm Date: Thursday 16 November 2023 Location: Bibo Wine Bar, 7 Bay Street, Double Bay, Sydney Dress: Business Casual A 45-minute panel discussion will be held with Jerry Parker from Chesapeake Capital, Moritz Seibert from Takahe Capital and Adam Havryliv from East Coast Capital Management moderated by Richard Brennan from Aussie Turtles. The panel will discuss the systematic trend following investment style, and Jerry will describe the fascinating Turtle Experiment. The panel will then be available to chat with attendees for the remainder of the event. About Jerry Parker & Chesapeake Capital Corporation Jerry Parker is the founder and Chairman of Chesapeake Capital Corporation, a global investment firm that has been managing client capital for over 30 years. Chesapeake provides investors uncorrelated returns through consistency in approach across a broad range of global markets and variable market conditions. Jerry is a highly respected investor in the industry and is known for his unique trading style, which he developed after years of studying the markets. He is also a strong advocate for risk management and believes that it is essential for any successful investor. Under Jerry’s leadership, Chesapeake Capital has grown to become one of the most successful investment firms in the world. The firm has a long track record of success and has generated significant returns for its investors over the years. Jerry is also a philanthropist and is actively involved in supporting a number of charitable causes. He is a member of the board of directors of the Chesapeake Bay Foundation and the Johns Hopkins University School of Medicine. In addition to his work at Chesapeake Capital, Parker is also a frequent speaker and writer on investing topics. Jerry has been featured in numerous publications, including The Wall Street Journal, The New York Times, and Forbes. Chesapeake Capital Corporation’s trading methodology is long term trend following utilizing robust trading systems across a broadly diversified set of markets; put simply: Classic Trend Following. It is a systematic (i.e. rules-based) investment approach that focuses on capital preservation while attempting to provide positive annual returns. Utilizing diversification and robust systems, our goal is to maximize the profit in each trade by following the system entries and exits regardless of market conditions or temptations. More information on Chesapeake Capital Corporation: https://chesapeakecapital.com/ About The 2 Quants from Takahē Capital Moritz Seibert is the CEO/CIO of Takahē Capital. Moritz started investing in 1998 and began his professional career as a derivatives trader at HSBC in Germany. Later, he worked for RBS in the UK as well as in the USA, where he was responsible for the bank’s equity derivatives structuring business. Subsequent to RBS, Moritz co-founded Aquantum, a Munich-based systematic CTA focused on short-term trend following and commodity spread trading strategies. Between 2017 and 2022, Moritz was the CEO/CIO of Munich Re Investment Partners, a quantitative asset management company serving institutional clients globally. More recently, he was the CIO at Exponential Age Asset Management, a large digital asset fund of hedge funds. Moritz lives south of Munich, close to the mountains, with his wife and two kids. Next to trading he likes reading a good book and enjoys playing tennis. Moritz Heiden is Head of Quantitative Research at Takahē Capital. Moritz had his first glimpse at the investment world at the start of the GFC and quickly decided to return to university to pursue a PhD in statistics. Subsequent to grinding through the academic machine and publishing several papers on machine learning and volatility modelling, he completed his thesis on “asymmetry and nonlinearity in forecasting multivariate stock market volatility.” He started his non-academic career at a large German Asset Manager and moved on to Scalable Capital, Europe’s largest digital wealth manager to spend more time coding and implementing asset allocation strategies and trading algorithms for ETF-based retail portfolios. After Scalable, Moritz served as the Head of Quant Research at Munich Re Investment Partners and where he worked alongside the other Moritz on all research and trading related tasks. Moritz lives in Augsburg, close to one of the oldest private German breweries, with his wife. Takahē Capital offers 3 Programs which includes the Systematic Trend Program, the Spread Momentum Program and a consolidation of these programs into a single portfolio called the Global Quantitative Fund Program. The philosophy of ‘Classic Trend Following’ lies at the heart of all of these Programs.  More information about Takahē Capital: https://takahe.capital/  About Adam and Richard from East Coast Capital Management (ECCM) Adam Havryliv is the founder and CIO of East Coast Capital Management (ECCM) where he is responsible for management and investment. Adam personally developed ECCM’s quantitative trading strategies. Prior to founding ECCM, Adam worked with Citi from 2007 to 2008 in the Investment Banking division where he was responsible for corporate derivatives and structured solutions. From 2005 to 2007, Adam was a Trader at Shell Cove Capital Management, executing global macro trading strategies. From 2004 to 2005, Adam worked at Goldman Sachs JBWere in the Equities Trading division.Adam holds a Bachelor of Commerce (Finance) degree from the University of New South Wales (UNSW), a Master of Business Administration (MBA) from the Macquarie Graduate School of Management (MGSM), and a Graduate Diploma of Psychology from the University of Sydney.In his spare time Adam can be found engaged with his passion for sailing on Sydney Harbour. Richard undertakes quantitative analysis for ECCM and works alongside Adam to market the ECCM systematic rules-based investment