From The Fund Manager
We saw some good strong trades early in the week and we were shaping up for a higher than average week but unfortunately, an unusual whip in the market back and forth later in the week triggered a number of hedged positions that had to be closed in loss. The week has still yielded a positive result but not as strong as it was looking to be earlier in the action. All that being said, growth is still growth, a good week none the less.
Last week we presented some of the possibilities with a restructure, putting it out to the community for feedback. Oh boy, did we get feedback! We saw many comments opposing or supporting the ideas, and a list of suggestions for other things to be considered instead of or to add to the presented plan. With this matter, there is no reason to move particularly quickly, so we are going to take the time to review the feedback and to take some of the suggestions to experts in the relevant fields to see if they can be considered and still remain compliant. ETA on this restructure will likely be in months rather than weeks as it is of a lower priority compared to other tasks at hand at this present time. As per normal updates will be communicated via the reports.
You may begin to notice some changes to our website, this is simply us moving toward a login system for managing your investor profile, including KYC, updating contact info and if we do end up continuing down the dividends path it will also allow you to select payment methods, which may include adding your bank details, etc. Once this is ready to test, we will communicate this to you all.
Kym is heading up the preparations for our first charity fundraising event. We feel a duty as a company to use part of our resources to help generate positive change in the world by supporting great charities. We have chosen a charity which we want to support and we think you will all agree it is worthy of anyone’s support. We won’t give out the exact charity name until we have the all clear from the charity themselves but we will say that they do a lot of work to help those suffering from dementia and their families, they do this through a number of programs working direct with those with the condition and a research program.
If you think you can help us in organising the event or you would like your business to get behind it also, please contact us via email and all support will be appreciated. Of course, once the event has been arranged we will publish details about it and if it is something you’d like to attend then we will look forward to meeting you there!
A quick staffing announcement; you may have noticed that over the past couple of months Chris has taken a bit more of a back seat when it comes to social media, and we have been leaning more heavily on our moderators and our accounts team when it comes to serving our investors. The reason for this is Chris’ time is more and more been taken up with analysis work and with work around the new project. This is where we need Chris as his skills and experience can provide more value for the company in these new roles. We haven’t yet got a new official title for Chris yet but it will be announced soon.
That’s all from us. Thank you for taking the time to read the report and have a happy and safe weekend!
Market Activity Summary
Market Data Source: Thanks to @BazzWatkins