Issuer: ELEMENT ONE LTD
ISIN Number: VGG299771086
Issue Description: USD CL B SHS
ISO CFI: CICXXX
September has passed with moderately negative indicators; however, S&P500 has performed a 1,72% increase.
On the 6th of September, the US Labor Department has revealed a monthly report. Even though nonfarm payrolls rose by just 136,000 instead of 150,000 expected, the jobless rate unexpectedly dropped to 3.5%, the lowest since December 1969, from 3.7%.
On the 12th of Septemeber, ECB has decreased the bank deposit rate by 10 basis point down to -0,5%. Moreover, the ECB will resume buying up eurozone government bonds at a rate of €20 billion as from November, "for as long as necessary," it said. What encouraged the massive wave of sells.
On the 18th of September, the Fed also decided to cut the interest rate. From now on it will range from 1,75% to 2%. Market was expecting this move; therefore, there was no reaction to it.
EUR/USD exchange rate has decreased to May '17 levels and in one point was as low as 1,087 Dollars p/Euro.
German industrial sector has underperformed market expectations. Manufacturing sector PMI index was far too low compared to the expected number and more moderate than it was in August. As the German economy is highly dependent on export to China, with €93 billion exported in 2018, the US-China trade war is playing its damaging role. On top of that, the fast-track Brexit deal would harm Germany manufacturing sector. Nevertheless, 10-year German bonds yield has decreased only by -0,61%
In early Septemeber, Gold has broke through US$ 1,557/oz. With bulls At the end of September, we have added Vmware (NYSE: VMW) shares to our portfolio at the price of $146,19 p/share. We anticipate the growth of the company basing on product uniqueness and enlargement of the partnership base, the full version of our analysis you could find here. During the last trading session in September, Vmware shares were valued at $150 p/share.
Element One fund has performed +2% growth in capitalisation, beating the USA market index by more than 15%.
Issuer: RAM Data Technologies INVT LTD
CUSIP Number: G7369L 106
ISIN Number: VGG7369L1067
Issue Description: EUR CL C SHS
ISO CFI: CICJMS
During September, the cryptocurrency market didn't experience any significant changes as it was in August. Bitcoin mining difficulty is continuing to rise, for the last month, it has increased from 10,1835Т to 12,7598Т. Ethereum mining difficulty has also dramatically increased, delta for it was 0,0413Р in August, while in September it became 0,2335P. Bitcoin exchange rate has continued to fall down to $8298, while Ethereum has increased by +5,51% at $181 at the end of the month.
The most profitable algorithms were Cuckatoo31 for "green" and Ethash for "red" miming. Despite the fact that our machinery was working on the following algorithms, hiking difficulty and decreasing exchange rate negatively affected the final result (including automatic conversion of mined currencies to BTC). Mining VG share prices were following negative dynamics - 1% decrease, taking into account accumulated and paid coupons. Nevertheless, we assume that the Bitcoin price is going to appreciate in the mid-term perspective due to upcoming halving. Therefore major part of our assets we plan to keep in BTC.
September is closing the third quarter, however, coupon payments are planed for October.