Firm Description
Although its roots go back to 1986, Mount Lucas Management, LP (“Mount
Lucas”) was reorganized as a Delaware limited partnership in December of
2010. It’s predecessor, Mount Lucas Management Corporation (the
“Corporation”) was formed in 1986 to act as an investment manager to
institutional investors and high net worth individuals. Mount Lucas is
registered as an investment adviser with the SEC under the Investment
Advisers Act of 1940, as amended. It is also registered as a commodity
trading advisor and a commodity pool operator under the U.S. Commodity
Exchange Act, as amended; and a member of the U.S. National Futures
Association, a self-regulatory organization authorized by the U.S. Commodity
Futures Trading Commission. The principal address of Mount Lucas is 405
South State Street, Newtown, Pennsylvania; telephone (267) 759-3500.
Principal Owners
Mount Lucas is managed by its general partner, MLM LLC (the “General
Partner”), a Delaware limited liability company. The members and managers
of the General Partner are Roger E. Alcaly, Paul R. DeRosa, Raymond E. Ix,
Jr., Timothy J. Rudderow Sr., and Gerald Prior III.
In order to recognize the contribution and efforts and broaden equity
ownership of Mount Lucas, the firm added several long-term employees as
partners in 2022. At the same time, the Corporation, which had been a
principal owner of Mount Lucas, was closed in order to simplify the ownership
structure. Mount Lucas is over 90% employee owned, and no person owns
more than 25%.
Types of Advisory Services
We offer clients a range of investment products that include actively managed
strategies and proprietary passive indices. Our long-term tenure in the
investment industry attests to our commitment to diversification, liquidity, risk
management, and transparency.
Mount Lucas offers several distinct investment strategies:
Our global macro strategy
, MLM Macro-Peak™, combines quantitative
and discretionary trading across the world’s major asset classes.
Our large cap equity strategy
, MLM Focused Equity™,
uses value and
momentum criteria to select S&P 500 stocks.
Our diversified futures index strategy, the
MLM Index™, is both an
investable index and a widely recognized benchmark for managed
futures performance.
Our quantitative liquid alternative strategy, MLM Symmetry , seeks to
capture the investment premiums generated by assuming economic
risks in global markets.
In implementing a particular strategy, Mount Lucas invests in listed or unlisted
equity securities, such as common stock, preferred stock or some convertible
securities, commodities, futures, options, bonds (including rated and unrated
corporate bonds and bonds issued by sovereign governments and their
agencies) and currencies, primarily through exchange-traded, liquid
instruments.
Our strategies differ in terms of their asset class participation, investment
approach, return objective, and risk threshold. Within each strategy, we offer
customized products and programs that directly target the needs and
objectives of our clients. Terms in respect of specific asset classes, limitations
of the types of securities, futures contracts or instruments are specified in the
respective advisory agreement for a managed account client and/or in the
Confidential Offering Memorandum for a particular product managed by
Mount Lucas.
Mount Lucas provides portfolio management services to wrap fee programs,
and receives a portion of the wrap fee. Wrap fee accounts are not managed
differently than other advisory accounts.
As of February 28, 2024, Mount Lucas had approximately U.S. $1.43 billion of
assets under discretionary management.
Tailored Relationships
Our strategies differ in terms of their asset class participation, investment
approach, return objective, and risk threshold. Within each strategy, we offer
customized products and programs that directly target the needs and
objectives of our clients. Terms in respect of specific asset classes, limitations
of the types of securities, futures contracts or instruments are specified in the
respective advisory agreement for a managed account client and/or in
Confidential Offering Memorandum for a particular product managed by
Mount Lucas.