Founded by Kenneth G. Tropin in 1994 as a proprietary trading company, Graham Capital Management, L.P. (“GCM”) is a macro manager within the alternative investment industry. The firm currently manages approximately $5 billion in assets, over $1 billion of which is proprietary capital which is invested in every one of GCM’s client-funded strategies, thereby ensuring that the firm’s interests are properly aligned with those of its investors. The firm offers both Discretionary Macro and Systematic Macro alternative investment strategies trading in global fixed income, equity, foreign currency, and commodity futures markets. GCM strategically manages risk exposure across each of the firm’s diverse investment strategies. GCM’s strategies are designed to produce attractive absolute and risk-adjusted returns while maintaining low correlation to traditional asset classes, as well as to other hedge fund strategies.
Discretionary Macro Overview: GCM’s discretionary investment portfolios generally seek profit opportunities which are dependant upon the skilled judgment and professional experience of each portfolio manager or team of portfolio managers. Discretionary investment strategies may be global macro in nature, following numerous markets at any given point in time, or sector specific, capitalizing on pricing inefficiencies within a single sector. Similarly, discretionary investment strategies may exclusively utilize fundamental information, technical information, or any combination thereof, and individual portfolio managers must follow a well-articulated investment process and apply a disciplined approach to risk management. GCM offers two Discretionary Macro products: the "Discretionary Portfolio" (multi-strategy discretionary macro) and the "Global Monetary Policy Portfolio" (single-strategy discretionary macro).
Systematic Macro Overview: GCM’s quantitative investment portfolios pursue profit opportunities across a broad array of markets, time frames, and trading styles, including momentum, high frequency, mean reversion, relative value, arbitrage, long-short, and market neutral. Quantitative programs are also known as Systematic Macro, Managed Futures or CTA/Trend-following and those offered by GCM use multiple models (currently 37 underlying models) in a diverse mix of global futures, equity, and fixed income markets to enhance returns and lower overall portfolio volatility. GCM’s systematic macro portfolios provide unique non-correlation and diversification benefits to traditional investments and other hedge fund strategies, and are designed to enhance the absolute and risk-adjusted returns of an investment portfolio. GCM has one Systematic Macro portfolio that is offered at three different targeted volatilities: "K4D-10", "K4D-15" and "K4D-20" (these funds targets approx. 10%, 15% and 20% annualized volatility respectively). These portfolios are offered both in Fund format as well as Managed Accounts for investors.