PAANDA Small - Q4 / 2020

Mis à jour : juin 14

Assets under Management

Total (EUR): 34 858


Valuation per Segment

Physical assets: 11 000

Digital assets: 8 000

Liquid assets: 15 858


Growth (AuM)

Total (EUR): +24 955

Q4/20 (EUR): +13 034


Download the full trading history (liquid assets only)

Daily_Statements_Q4_2020
.csv
Download CSV • 37KB

Allocation

65% Indices: China A50

25% Metals: Silver, Gold

10% Cash: to manage running cost of the company


Risk Functions

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.


Global Strategy

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

Current Exposure

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...


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