September 17th 2017
All Ethereum raised during the ICO has now been converted to a USD, EUR or GBP balance. At the point of conversion (using EUR and GBP exchange rates of the time) this gave a total fund value of $1,690,432.30 resulting in an average cost per ETH of $233.83. Whilst this is not an ideal price considering the past performance of Ethereum during the ICO we felt the final closing rates were good considering the market at the time was closer to $200 per ETH.
After the initial 15% operational costs are deducted this gives a fund value of $1,436,867.45 equating to a value per SIFT of $1.99. Please remember that no fees will be charged to the fund until the 15% operational costs have been offset against potential fees. This means that until the 15% has been recovered by shareholders 100% of profits go to shareholders - half dividends and half to reinvestment in the fund.
Trading will start on Monday 18th September 2017. During September the fund will be ramping up it's trading activities. We will start trading using no more than 37% of the fund's maximum trading balance (after prudent reserves) - approximately $425,000. During this trading period the fund will be allocated a maximum per currency as below. These percentages are the maximum that any trade will be and are based upon a weighting of risk, spread and available volume. The actual trade values will be further weighted based on the current market conditions and the particular signal. These percentages are liable to change as we continue to analyse market conditions.
As per our Comms Schedule we will provide updated fund values on Fridays at 23:00 GMT via Telegram and the SIFT website as well as daily trade summaries at the same time. It is important to remember that we only take trades when our system tells us to. If there are great trades tomorrow, we'll start taking them but we won't enter any trades unless our systems agree it is safe to do so. We will provide daily trading updates whether or not there have been trades to keep investors updated. The first earnings call and dividend payments will be in November after our first full month of trading.