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CHT Monthly Report - July 2019

July 26, 2019

 

Hello Investors,

 

 

Market Commentary

 

The increase in performance this week is largely due to the fund having gone through the first stage of re-balancing. We have now added a forex pair to complement the crypto pairs. Additional trading pairs will be added over the month of August.

 

Those following the markets may notice that price gapping has becoming more prevalent, which adds weight to our plan of diversifying into other trading pairs.

 

 

Completion of Investor AML/KYC 

 

We would like for all our investors to complete their AML/KYC submission before 31/08/2019, as it would position us for a smoother transition for the fund restructuring.

 

We have a number of investors wishing to register corporate entities. For this, please email us at services@countinghousefund.com.

 

 

Update on Fund Restructuring

 

We’ve listened to your feedback and can see that some of you are concerned about the time frames; so we want to provide some more transparency on the next steps for the fund.

 

We can only provide estimated time frames, but can advise that it will be at least one to two more months before any regulatory progress is made and subsequently, we are reviewing Option B and C simultaneously – to ensure our token holders are provided with liquidity ASAP.

 

Please review our options below:

 

Option A: Regulatory approval (2-6 months; perhaps longer)

  • Buy backs would presumably be reinstated due to regulatory approval

Option B: Sell the fund (dependent on buyer interest)

  • I would remain on as investment/technical advisor

  • Investors who want to liquidate would be able to do so before switching over to the new fund

  • We have interested parties, but time frames will vary depending on legal matters, due diligence, etc.

Option C: Liquidate the fund (dependent on Option A and B)

  • This is our least favoured option as it would mean we cannot continue working on the fund; would be an option if we were rejected on a regulatory means

  • Investors would be liquidated at a fair value based on closure fees etc.

Realistically, the time frames can vary depending on which option we take – but we are looking at all of them simultaneously to ensure the most timely and favourable result for our investors.

 

If you remain patient all of these should get us to a decidedly positive outcome; however, none of these options can be completed until after our KYC/AML is completed, so please continue to do this.


If we haven’t been clear enough on the next steps and options, then please email us at contact@countinghousefund.com – but we hope that information should be sufficient until we have a further update next month. We will again update with hopefully more positive news about the progress of each option next month and if anything happens in the meantime, we will obviously advise you beforehand.

 

Thank you as always for your continued patience in an equally frustrating situation for us as well.

 

See you next month!


 

Best Regards,

 

Tim Dawson

Fund Manager

Countinghouse Fund

 

Photo credit: Csaba Nagy on Pixabay

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