Assets under Management
Total (EUR): 34 858
Valuation per Segment
Physical assets: 11 000
Digital assets: 8 000
Liquid assets: 15 858
Total (EUR): +24 955
Q4/20 (EUR): +13 034
Download the full trading history (liquid assets only)
65% Indices: China A50
25% Metals: Silver, Gold
10% Cash: to manage running cost of the company
Invests no more than 300% of the principal (leverage < 3:1)
Value at Risk (Var) on open positions: 3 to 6% Diversified across Metals and Indices
We don't invest new additional margin anymore on Indices.
Macro with focus on demographic and capital flow events
The current main view and scenario is:
hyperinflation risks in the US (and USD drop)
Consolidation in commodities (metals)
The shift in economic power and leadership from West to East
In the Markets
Covering the risk on Metals and moving resources to Asian stock markets. We currently play:
USD neutral 91-89 on DXY, and breaking below, hence
US markets to remain stable with an upside risk
EUR markets to remain stable, with a downside risk
ASIAN markets to aim the 20K level on China a50
COMMODITIES to remain stable
Indices > Long China A50 x Short EuroStoxx 50 (5:2 spread)
Metals > Long Silver x Short Gold (1:1 spread)
Note from the desk
It was a great quarter in China! And more globally for stock markets. The spread China x EU worked particularly well in October, as we were able to make profits on both the legs.
On stocks, The market seems very "dangerous" now. We will start to gradually decrease our size during the 1st quarter 2021, as the market approaches the 20K target level.
On Metals, we have reverted the spread.
Future will tell...