The following programs are components of the Altegris 40 Index, which tracks the
performance of the 40 leading managed futures programs as reported to
International Traders Research, an affiliate of Altegris Investments, Inc.
The Index has been active since January 1990. It is derived from a proprietary
database of more than 500 Commodity Trading Advisor programs. The programs in
the index are those with the largest equity in the previous month.
Note: The list includes only CTAs tracked by International Traders Research.
There may be other programs not tracked by ITR that outperformed or
underperformed those listed which, if tracked, would affect the order of the
PAST RESULTS ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.