Issuer: ELEMENT ONE LTD
ISIN Number: VGG299771086
Issue Description: USD CL B SHS
ISO CFI: CICXXX
By the end of March 2019 the S&P500 Index finished in a green zone, primarily due to the expectations of signing a trade agreement between the US and China. However, the rate of positive movement also as in February, slowed down twice compared to the previous month, which may indicate the market consolidation with a further reversal, or a sharp upward movement, depending on the news background.
In early March, Pirelli (BIT: PIRC) and Goodyear (NASDAQ: GT) were settled to Element ONE fund portfolio. Goodyear shares went a little lower than our stop-loss and the position had to be liquidated, however, Pirelli’s shares remained in the portfolio notwithstanding the 11% price drop and by the beginning of April reached 3% plus, stop-loss was set at $5.9. In the middle of the month we added Nvidia stocks (NASDAQ: NVDA) to our portfolio. The main drivers for the purchase were new background on the GTC19 conference and technical oversold of the securities. As of the end of March, the purchase of shares of the manufacturer of graphic chips provided more than 8% yield. Currently we have reduced the amounts of hedging positions and assume the possibility of testing the September S&P’ heights in the nearest future.
By the end of March 2019, the fund NAV added 0.71% to the previous month.
Issuer: RAM Data Technologies INVT LTD
CUSIP Number: G7369L 106
ISIN Number: VGG7369L1067
Issue Description: EUR CL C SHS
ISO CFI: CICJMS
March 2019 was the second positive month for cryptocurrencies in general and BTC in particular. As we predicted at the beginning of March, an increase in volatility at increased trading volumes can be a serious signal to the growth of a crypto asset. Over the past month, the cost of the most capitalized cryptocurrency increased by about 8% from $ 3,793.60 (Kraken) to $ 4,095.20 (Kraken). Already in five days of April, BTC soared to a mark above $ 5,300, traded by mid-day on April 5, GMT + 0 in the region of $ 5,000, thereby adding about 23% to the opening price of the month.
Most analysts are of the opinion that growth should continue to a target mark of $ 6,000 per BTC. We also positively assess the possible dynamics of the bitcoin price movement, however, we believe that the market in the middle of April may undergo a slight correction. Upon fixing the price above the $ 5,000 mark, it will be possible to make predictions about the further price movement.
According to the results of March Mining.VG had a positive trend in the change in NAV for the second month in a row, adding about 0.15% (the net increase in investor income, taking into account the accrued coupon, was about 0.31% to February 2019). In the current dynamics, we continue to accumulate crypto assets to maximize the NAV of the fund. The marginality of mining at the BTC rate of $ 5000 is about 30% and, in the case of continued growth, the fund's profitability in the near future could reach up to 1-2% per month in dynamics.
Since April, we have begun to reflect in the test mode the yield chart on the fund page on the Raison AM website, taking into account the accrued coupon for a more transparent understanding of the investor’s net aggregate profitability.
Also from April 2019, the fund transfers of all crypto assets to an individualized account at the regulated financial institution RAISON.AI, which will increase the security of custody and optimize the cost of possible conversions, as well as reduce transaction costs. New wallets with balances used for storage are available in the mining.vg personal area.
At the end of the first quarter of 2019, the fund's customers were sent accumulated coupon income. All detailed information regarding each investor is available in the personal area of the fund.