Global Dynamic Trading Fund: Ermitage Asset Management Jersey

Ermitage has combined time and price analysis in a program using high conviction discretionary fund trading liquid futures markets. Years of research have resulted in the Global Dynamic Trading Fund.

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Elliot Refson has a passion for numbers and patterns. Specifically he is passionate about time cycle analysis, something he started working on in the 1980s. As portfolio manager for the Ermitage Global Dynamic Trading Fund (GDTF), he has been able to give full expression to his theories.

The concept was initially used in 2007 as an internal trading overlay vehicle used by Ermitage to hedge against key trend changes in major markets and currencies. The success of the time cycle analysis-based

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