View Program Details
  Inception Date October 84 Assets Under Mgmt as of August 31, 2010  $29 Million  

  Program Overview

The Financial and Metals Portfolio (F&M) is JWH's longest running program. The program seeks to identify and capitalize on intermediate-term price movements in four worldwide market sectors: currencies, interest rates, metals, and global stock indices. This program uses the three-phase investment style. Beginning in August 1992 the position size in relation to account equity in this program was reduced 50%. Since the changes were implemented in 1992 the Financial and Metals Portfolio has experienced lower volatility. The quantitative model underlying the program was not changed.

JWH, through its Investment Policy Committee (IPC), completed a review of the portfolio composition of F&M on February 18, 2000. Financial and Metals Portfolio Undergoes Portfolio Composition Changes (February 2000) discusses the portfolio adjustments.
Performance Data
2010 (YTD) 14.65%
June 3.81%
July -2.89%
August 7.62%
Risk Analysis (Annualized Standard Deviation)
2010 (YTD) 13.81%
1-Year 14.97%
3-Year 24.56%
5-Year 26.25%

5-Year Statistics (9/05-8/10)
Volatility 26.25%
Sharpe Ratio 0.20
Largest Drawdown (5/06-3/07) -35.58%
Average Profitable Month 6.21%

 
Average Unprofitable Month -5.34%
% of Profitable Months 52%
% of Unprofitable Months 48%
Correlation to S&P 500 -0.29




                                                                                                                                           





                                                                                   

                                                                                                 


                                                                                                                                                                                                                                             



Annual rates of return are provided for the past five years. Long-term performance looks at annualized returns for the recent three-year and five-year periods, as well as from inception. The same periods are applied in the risk analysis shown, using standard deviation as a measure of risk.


               Ending August 31, 2010
Financial and Metals Portfolio: $150,109
Barclays Capital U.S. Long Government Bond Index (BCGI) : $12,943
S&P 500 : $11,890
MSCI EAFE : $10,000
Goldman Sachs Commodity Index (GSCI) : $5,157
This chart shows the growth of a hypothetical Investment of $1,000
invested at the inception of the program and maintained through
the current period, as indicated.



The Performance Notes and Terms are an integral part of the performance data presented on this page and should be read in conjunction with it.

Click on here to view the JWH Programs and Performance notes.

An investment with JWH is speculative, involves a high degree of risk, and is designed only for sophisticated investors who are able to bear the loss of more than their entire investment. Read and examine the disclosure document before seeking JWH's services.

The information on this web site may not be reproduced or used in conjunction with any securities offering and is not for reproduction or distribution without the prior written consent of JWH.

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.