Commodity Trading Advisors

TRADING STRATEGY
“The program is based on qualitative trading decisions and is a substantially different trading approach to that of the Appleton currency programs. It is a systematic approach to the major financial and commodity futures markets without being limited to currency contracts and is also a substantially different trading approach to that of the Appleton currency programs. The Appleton Global Opportunity Program is traded using a 100% systematic approach to the major futures markets. The particular contracts that are traded are the result of a series of filters that analyze the tendency of a data series to display memory or trend. Additionally, contracts are scanned for their liquidity and political stability characteristics. In fundamental investment terms, the Program can be broadly compared to the basic tenets of Modern Portfolio Theory. Given a fixed number of investment opportunities, in this case futures contracts, the investment manager must endeavour to attain an optimal level of return for a fixed level of risk. This mean variance optimisation process is derived from three key
components – expected return, expected risk and correlation between subholdings.”

TRADING STYLE: Systematic / diversified / trend following