Ascendant Asset Advisors has launched its JLDeVore Elite Trading program, trading options in multiple futures markets, and in its first two months, it has delivered. Since its January debut, the program is up 17.54%.
Elite, which trades the same markets as but has a higher minimum investment requirement than its predecessor Strategic 1 and Strategic 2 options programs, opened to investors to by invitation only, according to founder Payam Pedram. It managed seven accounts, with some $2 million in assets, at the end of last month.
The Strategic 1 and 2 programs have also enjoyed strong starts to the year, up 9.38% and 17.19%, respectively. “Our trading programs have been very successful in such a volatile market and this reflects our strategy,” said Pedram.
Elite charges no management fee and a 50% performance fee, with a $500,000 minimum investment requirment. Ascendant currently manages some $22 million in total assets.