We have had a relatively smooth trading month in September. The most notable move was a large dip in the major pairs in the later part of the month.
Fortunately, no pausing has been required on the fund thus far through this transition period. It may still be required, in which case, we will report a 0% week. We want to keep that forward of mind so that there is no concern of error, if and when the 0% is reported.
Tim has returned to the office from Victoria in the Seychelles and with those requirements now complete, we are still waiting on the completion of a number of tasks from 3rd parties. With the ownership and management of the fund being changed, there are obviously some legal and due diligence tasks being done by the third parties seeking to take over this role.
We are limited as to what we can publish due to some non-disclosure agreements for commercial reasons of the other parties. As it stands, Countinghouse Global (the fund itself) should be taken over by an already licenced entity that is able to carry out the management and distribution of the fund, the running of the webpage, customer services, reporting and other day to day running of the fund.
The current team will move its focus to being a purely algorithm R&D company, and will lease out its algorithms to the existing fund and other funds that would be interested. This would allow us to both focus on what we are best at and to get the fund under the control of a team able to service all the requirements of our investors and make Countinghouse Fund the fund we have always planned for it to be, with a full suite of desired features, while still maintaining the aggressive algorithmic strategies.
At the moment, we still are expecting a number of investors to submit their AML/KYC applications, as this will be required to comply with anti-money laundering laws when it comes to redemptions and the like. So, we highly encourage our investors to have their AML/KYC submitted. If you have not yet done so. Any enquiries around the AML/KYC process can be sent to firstname.lastname@example.org.
We would again like to reiterate that the official channel by which to communicate with Countinghouse is via email. This will become more and more important as it is most likely that after the transition there will be less importance held to social media. It is inefficient as a form of communication and is unlikely to be a good fit for the new management.
Sorry for the delay in this letter coming out. We have had a very full schedule mixed with part of the team away travelling has put some tasks behind.
Thank you for taking the time to read this letter and The Countinghouse Team wish you a pleasant and safe month going forward.
The Countinghouse Team
Photo credit: Csaba Nagy on Pixabay