Montague Tweaks Futures Programs

Apr 5 2007 | 11:57am ET

Commodity trading advisor Montague Financial is in a slump, but principal Pascal Guessas is not discouraged. In fact, he’s taking it to the investors to help jumpstart the firm’s P50 and P100 programs, which are down 14.92% and 3.34% on the year, respectively, as of the end of February. Both programs trade stock index futures and financials and currencies futures.

“We have made some changes in other areas, and I think that we should see results within the next couple of months,” said Guessas, in his monthly investor letter.

Guessas explained to FINalternatives that changes have been made to the programs in terms of “locking in profits very quickly rather than position trade and let the position run as what is true today will almost certainly be wrong tomorrow,” as well as other changes that he declined to discuss.

He also urged his investors to show faith in the programs during drawdown periods by doubling up as opposed to heading for the exits. “I know and realize that this might go against the large majority of investor’s philosophy, but, after 30 years in the futures industry, I can only say that this is the way I know best to produce what is expected of me,” he said.

Both P100 and P50 programs were down 21.96% and 0.74% respectively last year.

Montague managed $4.6 million in assets at the end of 2006.


In Depth

Q&A: Filippo Pignatti Morano On The Ultimate Alternative Investment...Classic Cars

Jan 29 2015 | 12:37pm ET

In 2011, Filippo Pignatti Morano launched a fund to invest in classic cars. FINalternatives...

Lifestyle

Looking For A Hedge Fund Manager? Try Davos

Jan 28 2015 | 8:48am ET

Davos, Switzerland seems to have become the hedge fund capital of the world—at...

Guest Contributor

Five Tips For Successfully Marketing Your Hedge Fund

Jan 30 2015 | 9:14am ET

When it comes to the hedge fund industry, the notion of “build it and it will...

 

Editor's Note