Issuer: ELEMENT ONE LTD
ISIN Number: VGG299771086
Issue Description: USD CL B SHS
ISO CFI: CICXXX
By the end of February 2019 S&P500 index grew by 2.97%. The market continued to grow started in January, but the growth rate dropped by more than 2 times.
At the beginning of the month we made several purchases of companies from the technology sector, significantly expanding the share of participation in this sector. We opened an Autodesk Inc. (NASDAQ: ADSK) long with an average price of about $151. Their stock price increased by the end of the month to $163, which gave an increase in the value of the total portfolio by about 0.9%. We also rebalanced the portfolio, significantly reducing the number of short positions, however, we used the purchased options on the VIX to hedge the market fall risk in the short term. Our skepticism regarding the market, prevailing at the end of 2018, subsided somewhat due to the pause taken by the Fed before further raising of rates and the outlined signing of a trade agreement between the US and China. Currently, we are positively looking at the US market in the medium term.
According to the results of February 2019, the fund’s NAV grew 3.15% comparing the previous month. Current fund portfolio mostly of long equity s and ETFs. The structure of the portfolio at the end of the month is shown below.
Issuer: RAM Data Technologies INVT LTD
CUSIP Number: G7369L 106
ISIN Number: VGG7369L1067
Issue Description: EUR CL C SHS
ISO CFI: CICJMS
The cryptocurrency market is still in a global downtrend. Nevertheless, in February, there were attempts of the bulls to turn the tide in their favor, which were still not crowned with success. However, due to the extremely high volatility of the market and its dependence on the news background, it is impossible to talk about the impossibility of breaking the trend, and at any time we can witness its significant growth. By the end of last week of February, the BTC added about 20% to its value as compared to the beginning of the month, while by 28th of February the price fixed at the level of about $3,800, which was about a 12% increase from the monthly opening price.
The market lacks an event driver for a breakthrough, but the news background accumulates a large number of occasions, some of which can serve as a strong signal for the start of significant growth. For example, institutional players come to the market - JP Morgan launches its own cryptocurrency, the asset management companies do not give up trying to launch the first ETF. For further growth of Bitcoin, the market lacks some global event, for example, the successful launch of the TON platform. Volatility is growing in the market, which is a positive factor, and it is very important that all this is accompanied by increasing of trading volumes.
According to the results of February, the Mining.VG Fund showed a positive trend in the change in NAV, adding about 0.7% (the net increase in investor income, taking into account the accumulated coupon, was about 0.9% of the January price). In February, the aggregate amount of remuneration for data processing in blockchain networks increased by approximately 50% compared to January 2019, which will allow our investors to get a larger coupon paid on a quarterly basis.