Crabel Gemini UCITS Fund
The Crabel Gemini UCITS Fund is managed by Crabel Capital Management LLC, a global alternative investment firm specialising in systematic, automated trading of worldwide futures and foreign exchange.
The Gemini program is a systematic portfolio of predominantly short holding period strategies designed to target behavioural and structural market inefficiencies across a broadly diversified set of global futures and foreign exchange instruments.
The portfolio is structured to provide low correlation to traditional and alternative asset classes. Made up of over 50 differentiated and stand-alone strategy frameworks, the program offers a unique source of returns. Crabel’s focus on execution excellence provides a further advantage in efficiently accessing unique exposures in approximately 200 markets. Strategies are generally driven by price or derivatives of price such as volatility, correlation, and term structure. Most strategies are designed to work symmetrically, either long or short. The program has an approximate eight-day average hold timeframe (with a range of two days to several months) and targets a 10% annualized standard deviation.
Precise risk controls are a key feature of Crabel’s investment philosophy. Risk management is embedded within the portfolio and strategy designs and applied in an automated manner. Each portfolio has an annual volatility target to establish a risk budget with multiple layers of risk controls at the position and portfolio levels. This multi-tiered approach to risk control includes: dynamic sizing of new trades relative to market volatility, the use of price as well as time-based stops, and a real-time VaR-based position sizing mechanism that seeks to constrain overall portfolio risk.
Crabel Gemini UCITS Fund
Michael Pomada is President and Chief Executive Officer of CCM and a member of the firm’s Leadership and Executive Committees. In addition to his executive role, Michael is the Portfolio Manager of Crabel Gemini and Crabel Contra and developed Crabel Advanced Trend. He spends his time on research and product development, as well as overseeing the front office teams. Michael joined CCM in April 2008 as a portfolio manager focusing on the firm’s Equity Main strategies. In late 2009, he spearheaded a firmwide initiative to revamp the organization’s trading infrastructure, execution process, and microstructure research. He went on to serve as CCM’s Chief Operating Officer from June 2011 to July 2016 when he became President and CEO. Prior to joining CCM, Michael spent time at UBS and managed portfolios at Manchester Trading (Niederhoffer) and Coast Asset Management. He began his career in sales and business development in the interactive entertainment industry before transitioning into finance. A graduate of the University of California, Berkeley, Michael also holds an MBA with a concentration in investments and statistics from the University of Southern California.
Steve Wisdom is a Senior Partner at CCM and a member of the firm’s Leadership and Executive Committees. He is also the Portfolio Manager of Crabel Gemini and Crabel Contra. Before joining CCM in January 2008, Steve served as Chief Operating Officer at Manchester Trading (Niederhoffer) with responsibility for trader management and development, research direction and oversight, technology and infrastructure, client and broker relations, and trading and position management. Prior to his time at Manchester Trading, Steve developed systematic and automated US equity trading strategies at Deephaven Fund and traded futures, forex, and energy markets for the proprietary trading group at Société Générale. He began his career in finance developing research and trading strategies at Trout Trading. Steve graduated from Harvard College with a bachelor’s degree in philosophy with a focus on symbolic logic and coursework in mathematics, applied mathematics, finance, and economics.
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Crabel Gemini UCITS Fund
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