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Ernest L. Jaffarian

CEO & CIO

Mr. Jaffarian is the Founder, President and Chief Executive Officer of Efficient Capital Management, LLC (Efficient). In 1986 he joined Chicago Research & Trading Group (CRT) as a member of the proprietary trading group on the floor of the Chicago Board Options Exchange (CBOE) and rose to position of Senior Vice President for OTC Treasury Options. Immediately prior to founding Efficient, Mr. Jaffarian was responsible for the managed futures department of Hull Equity Management, LLC and for the allocation of Hull Trading Company, LLC's proprietary capital among trading advisors. He graduated from the University of Oregon in 1974 with a B.A. in History. Mr. Jaffarian holds a Series 3 license, is a Chartered Alternative Investment Analyst Designee (CAIASM), and is a veteran of over 30 years within the alternative investment industry in the areas of trading, portfolio construction, and risk management.

Ernest L. Jaffarian
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Donna M. Allen

Chief Compliance Officer

Mrs. Allen is the Chief Compliance Officer of Efficient Capital Management, LLC. Before joining Efficient in 2005, she was the Director of Compliance and Investor Relations for Norshield Investment Partners (USA). While there, Mrs. Allen was responsible for building out the Chicago Office to a staff of 10 employees and aided in the creation of a Cayman Island hedge fund of funds platform structure. She also held the position of Director at Guggenheim Partners where she helped launch the first Alternative Hedge Fund of Funds product for the firm. Mrs. Allen has years of industry experience working with a precious metals and Numismatics Firm, Commodity Trading Advisory Firms and Futures Commission Merchants. She obtained a Bachelor of Arts Degree from DePaul University. Mrs. Allen holds a Series 3 license and has more than 30 years of industry experience.

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Donna M. Allen
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James M. Field

Chief Financial Officer

Mr. Field is the Chief Financial Officer of Efficient Capital Management, LLC. Prior to joining Efficient in 2002, he was the top financial officer of some of the financial industry's well known companies including Lind-Waldock, Mitsubishi Baldwin, and Sheridan Investments. Mr. Field passed the CPA exam in 1981 in Illinois and worked in public accounting for several years with Coopers & Lybrand. He graduated from Northern Illinois University in 1980 with a B.S. in Accountancy. Mr. Field has more than 30 years of industry experience.

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James M. Field
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Ronald L. Davis

Chief Operating Officer

Mr. Davis is the Chief Operating Officer for Efficient Capital Management, LLC. Prior to joining Efficient in 2001, he had more than 14 years of experience with Cargill Investor Service, Inc. in the Fund Services group, and was a Futures Administration Manager for Dean Witter Reynolds. Mr. Davis graduated from Illinois Institute of Technology in 1975 with a B.S. in Mathematics, and received his MBA from the same institution in 1977. He passed the CPA exam in 1980 in Illinois, holds a Series 3 license, and has more than 30 years of industry experience.

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Ronald L. Davis
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Barton J. Springer

General Legal Counsel

Mr. Springer is the General Legal Counsel for Efficient Capital Management, LLC, and is also a member of the company's Executive Management Group. For thirty years he was engaged in the private practice of law, during which time he represented futures industry participants, (futures commission merchants, commodity trading advisors, commodity pool operators, introducing brokers and individual traders), in a variety of matters. In addition, for approximately seven years, Mr. Springer was a member of the Chicago Mercantile Exchange where he traded for his own account. Subsequent to his private practice, he served as in-house legal counsel to a registered investment advisor and its hedge funds and also to one of the largest independently owned futures commission merchants. Mr. Springer received his undergraduate degree, with honors and distinction, from the University of Illinois and his Juris Doctor degree, with honors, from the Northwestern University College of Law.

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Barton J. Springer
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Michael R. Marcey

Managing Director of Strategic Development

Mr. Marcey is the Managing Director of Strategic Development for Efficient Capital Management, LLC. He is involved in coordination of staff and global business development specialists, and in leadership development and mentoring. Mr. Marcey graduated from Carnegie-Mellon University in 1973 with a B.A. in Social Relations. He earned an M.Div. from Covenant Theological Seminary in 1977, and an S.T.M. from Concordia Seminary in 1983. Mr. Marcey joined Efficient in 2004, holds a Series 3 license, and has 27 years of experience in not-for-profit leadership development and strategic planning.

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Michael R. Marcey
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Marat Molyboga

Chief Risk Officer & Director of Research

Mr. Molyboga is the Chief Risk Officer and Director of Research at Efficient Capital Management, LLC. He began his career at Efficient in 2001 as a Research Analyst. From 2002, he consulted for Petra Intraday Trading Systems as the Senior Researcher and served as its president from 2004. He left Petra in 2006 and joined the Research Department at Efficient as a Senior Research Analyst. His expertise is in CTA performance evaluation and portfolio construction. Mr. Molyboga is also an expert in portfolio risk management and serves as the Chief Risk Officer for the firm, while also overseeing the work of the Research Team. Mr. Molyboga is a Financial Risk Manager designee (FRM), a Chartered Financial Analyst (CFA), and holds a Series 3 license. He graduated with high honors from Moscow State University in 2001 with a Masters in Financial Mathematics. He also graduated with honors from the University of Chicago's Booth School of Business in 2013 with an MBA in Finance, Economics and Strategic Management. Mr. Molyboga has been in the industry since 2001.

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Marat Molyboga
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Chad Martinson

Managing Director, Investments

Mr. Martinson is the Managing Director, Investments at Efficient Capital Management, LLC, a member of the Investment Team at Efficient Capital Management, LLC. After eight years of IT consulting for several fortune 500 companies, he joined Efficient where he served as the Chief Technology Officer for more than 3 years. Mr. Martinson graduated from Taylor University in 1994 with a B.A. in Chemistry/Pre-med. He holds a Series 3 license and is a Chartered Alternative Investment Analyst Designee (CAIASM) with more than 10 years of industry experience.

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Bruce C. Aulie

Director of Manager Search

Mr. Aulie is Director of Manager Search, a member of the Investment Team at Efficient Capital Management, LLC. He began his career in alternative investments in 1980 at the Chicago Board of Trade with Agra Trading on the trading floor. He also managed the firm's margin requirements and supervised the back office reconciliation for the trading operation. In 1981 he joined Chicago Research and Trading as a junior partner and for six years managed the repo desk as part of their futures and cash bond trading operation. Prior to joining Efficient in 2006, he was the director of a not-for-profit in Spain where he provided leadership for 19 years. Mr. Aulie graduated from Gordon College in 1979 with a B.A. in Physics, and completed a Master of Divinity degree at Columbia International University in 1986. He holds a Series 3 license, and has more than 12 years of industry experience.

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Bruce C. Aulie
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Andrew J. Brumbach

Investment Analyst

Mr. Brumbach is an Investment Analyst and a member of the Investment Team. He was the Senior Strategist and Head Trader at Efficient Capital Overlay, LLC. Prior to that he was a Principal of Global Exchange at Bank of America, trading options on Japanese Government Bonds (JGBs) on the Tokyo Stock Exchange from 1992-2000. Mr. Brumbach graduated from Baylor University in 1991 with a B.A. in Studio Art. He holds a Series 3 license and has more than 15 years of industry experience.

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Andrew J. Brumbach
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Lorent Meksi

Managing Director

Mr. Meksi is the Managing Director, Partner and a member of the Investment Team at Efficient Capital Management, LLC. Prior to joining Efficient, he was an options trader for Efficient Capital Overlay, LLC where he started his career and remained until 2006. Mr. Meksi graduated from North Central College in 2003 with a BS in Computer Science and a BA in International Business. He received his MBA degree from the University of Chicago Booth School of Business in 2012. Mr. Meksi holds a Series 3 license, and has been in the industry since 2003.

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Lorent Meksi
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Kevin R. Townsend

Investment Analyst

Mr. Townsend is an Investment Analyst at Efficient Capital Management, LLC. He performs research, analytics and data management for the Investment Team's manager search, due diligence and allocation processes. Prior to joining Efficient in March 2009, Mr. Townsend was a research survey manager and deputy project director at RTI International, a large nonprofit research firm headquartered in Research Triangle Park, NC. Mr. Townsend graduated from Wheaton College in 1991 with a double B.A. in Economics and Political Science. He did his post-graduate studies at Ohio State University, where he earned an M.A. in Political Science in 2000 and an M.A.S. in Applied Statistics in 2001. He brings more than 10 years of data management and analysis experience to his position with Efficient.

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Kevin R. Townsend
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Joel D. Handy

Director of Client Relations

Mr. Handy is the Director of Client Relations at Efficient Capital Management, LLC. Prior to joining Efficient in July 2008, he worked in the residential mortgage industry in a sales and customer relations position. Mr. Handy graduated from Wheaton College in 2001 with a B.A. in Music, and from Wheaton College Graduate School in 2002 with an M.A. in Church History and Theology. He holds a Series 3 license.

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Joel D. Handy
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Marty Aiken

Senior Advisor

Mr. Aiken is Senior Advisor of Efficient Capital Management, LLC. He is responsible for the firm's marketing efforts and relationships in Asia, particularly in Japan and China. Mr. Aiken began his career at Chicago Research and Trading (CRT), where he oversaw the firm's market-making in agricultural options. He later moved to Philadelphia where he served as CRT's designated market-maker at the Philadelphia Stock Exchange. Mr. Aiken then returned to Chicago and the CBOT where he traded for his own account. He has over 13 yrs. of industry experience. Mr. Aiken is a graduate of Yale College, Class of '77.

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Marty Aiken
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Curt Bradshaw

Managing Director, Efficient Access & Director, Due Dilligence

Mr. Bradshaw is the Managing Director of Efficient Access™ and Director of Due Diligence of Efficient Capital Management, LLC. Prior to joining Efficient, Mr. Bradshaw served as a Senior Vice President ‐ Head of Product Strategy and Business Intelligence at TIAA Global Asset Management/Nuveen Investments. He also previously held senior product strategy and development roles at Invesco and Morgan Stanley. In those roles, he was responsible for managing all phases of the product life cycle for products spanning multiple structures, geographies and brands. He began his career at the Chicago Board of Trade where he last served as Manager of Market Surveillance and was responsible for detecting and preventing manipulations of the Exchange’s agricultural and equity products. He earned a bachelor’s degree in agricultural economics from the University of Illinois in 1994 and graduated first in his class with an MBA in finance and strategic management from the University of Chicago Booth School of Business in 2001.

Mr. Bradshaw also previously served as Board Member and Finance and Audit Chair of the Illinois State Board of Education. In addition, he served as President of Illinois’ third largest school district.

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Curt Bradshaw
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David Martin

director of information technology

Mr. Martin is the Director of Information Technology at Efficient Capital. After 4 years of developing web applications for Big Idea Productions, Inc., he joined Efficient where he served as a software engineer for 6 years before being promoted to Director of IT. He is a Microsoft Certified Solutions Developer (MCSD). His career in the programming and software development & engineering industry began in 1999. In 2003, he began applying his expertise within the financial services and trading industry.

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David Martin
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About Efficient

Efficient Capital Management was founded in 1999 by leading futures industry professionals from some of the world's most successful trading firms with the common goal of establishing an innovative multi-manager CTA portfolio investment firm.

Our experienced team of professionals is dedicated to serving our clients in achieving their desired exposure to Managed Futures.

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Contact Us

info@efficient.com

Efficient Capital Management

4355 Weaver Parkway
Warrenville, IL 60555
United States of America

Direct: +1 630 657 6800
Fax: +1 630 657 6866

Information on this website is intended for use only by persons and entities that are "Qualified Eligible Persons" as defined in the Commodity Futures Trading Commision Regulation 4.7. Past results are not necessarily indicative of future results. Futures and options trading is extremely speculative and highly risky and is not suitable for all investors. There can be no assurance that an account or fund will earn any profits at all or will be able to avoid incurring substantial losses, including the entire loss of the investment.

This website is for informational purposes only and is not an offer to sell; a salutation of an offer to buy or a recommendation to buy any security. An investment is offered only on the basis of the appropriate Private Placement Memorandum and other offering documentation and in accordance with all applicable laws. This website does not describe all the various risks associated with investing in managed futures or foreign currency exchange, a list of which is in our fund offering documents and our completed due diligence questionnaires. We can provide these documents, or the list, to you upon request.

Pursuant to an exemption from the Commodities Futures Trading Commission in connection with accounts of qualified eligible persons, this document is not required to be, and has not been, filed with the commission. The Commodities Futures Trading Commission does not pass upon the merits of participating in a trading program or upon the adequacy or accuracy of commodity futures trading advisor disclosure. Consequently, the Commodities Futures Trading Commission has not reviewed or approved this trading program or any of the information on this website. Nothing contained in this website constitutes investment, legal or tax advice.

The Efficient logo, Efficient Capital® and Efficient Capital Management® are registered trademarks of Efficient Capital Management, LLC.