The Hyperion Fund | Absolute‑Return, Multi‑Strategy Investing

Year-to-Date

4.58%

Mar

2.40%

Minimum Investment	$250K
AUM	$103.0M
Strategy	Multi-Strategy

Annualized Volatility	2.23%
Sharpe (RFR=1%)	3.54
CAROR	9.23%

Worst Drawdown	-1.67
BND Correlation	-0.08
S&P Correlation	-0.11

Net Monthly Fund Performance

Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	YTD	DD
2026	0.89	1.23	2.40										4.58	0.00
2025	0.65	0.96	1.10	1.96	0.89	0.25	-0.24	0.68	0.18	1.50	2.29	1.03	11.82	-0.24
2024	1.06	0.88	1.05	1.45	1.08	1.01	1.68	-1.67	0.30	1.28	0.58	2.07	11.26	-1.67
2023	0.34	0.67	0.78	0.43	0.90	0.77	1.00	1.18	1.06	1.25	1.06	1.05	11.00	0.00
2022	0.02	0.16	0.70	0.27	0.30	0.49	0.36	0.30	0.23	0.37	0.41	0.69	4.38	0.00
2021	0.40	0.38	0.51	0.39	0.88	0.91	0.56	0.87	0.90	0.78	0.56	0.95	8.39	0.00
2020										-1.05	0.04	0.47	-0.55	-1.05

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.

Presentation

Performance

Strategy Buckets

Portfolio Composition

Investment Details

Vehicle Type	US Domiciled Fund
Minimum Investment	$250K
Available to US Investors	Yes
Available to non-US Investors	Yes
Investor Requirements	Qualified Eligible Persons (QEP)
High Water Mark	No
Subscription Frequency	Monthly
Redemption Frequency	Monthly

Fund Details

Managing Member	Le Mans Trading
Legal Advisor	Clark Hill
Administrator	Formidium Corp
Auditor	Spicer Jeffries
Custodian	Northern Trust
Regulator + License No	NFA 0531607
Fidelity CUSIP	44999D011
Schwab SSID	110776892

Fund Statistics

Sortino Ratio	10.46
Sterling Ratio	1.16
Beta	-0.02
Calmar Ratio	7.41
Alpha Annualized vs S&P 500	9.52%
Standard Deviation Monthly	0.64%
Downside Deviation	0.24%
Average Winning Month	0.82%
Average Losing Month	-0.99%
Winning Months (%)	95.45%
Losing Months (%)	4.55%
Worst Drawdown (Monthly)	-1.67%
Total Return Annualized	9.23%
Total Return Cumulative	62.53%

Trading Holding Periods

Held Intraday	0.00%
1-30 Days	100.00%

Summary

The Hyperion Fund is a diversified, uncorrelated multi-strategy fund managed by Le Mans Trading. Hyperion is designed to deliver absolute returns while focusing on risk mitigation. The fund employs multiple, distinct portfolio strategies that utilize futures and options trading to capture opportunities across various market conditions. A key feature of the Hyperion Fund is its tax-efficient structure, which offers investors the benefit of long-term capital gains treatment from trading futures contracts. This makes it an attractive option for investors looking to diversify their portfolios, manage volatility, and optimize tax efficiency while aiming for steady performance in both rising and falling markets.

Investment Strategy

The Hyperion Fund represents an actively managed absolute return fund that leverages S&P 500 options and futures for investment purposes. Our investment approach revolves around a scientific, model-driven process that incorporates quantitative indicators. The fund aims to generate consistent, well-defined returns, regardless of market direction, by implementing five distinct strategies. We carefully assess and allocate weights to each strategy, aiming to achieve a desired negative correlation with major indices and the systems being traded.

Risk Management

Risk Identification: “Risk Sigma” or “Mean Reversion” focuses on tight risk management as the basis to generate returns from both volatility and directional markets. Shorter trading time frames and higher turnover seek to reduce portfolio volatility exposure and drawdowns.

Market Condition Analysis: The analysis process involves examining market conditions to identify investment opportunities, determine the best-matching trading approach for those conditions, and set the timing and entry/exit parameters. Model-Driven Risk Mitigation: Trading S&P 500 Index Futures and Options with the objective of achieving consistent capital growth generated by quantitative models. Following the ebb and flow of market actions, matching current conditions to the best strategic approach, we not only look at absolute returns but also focus on risk-adjusted returns.

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