We are writing to all existing clients and self-certified individuals to provide a company update as there have been many improvements and structural changes with Novus Black that everyone needs to be aware of. All of the changes that we have made are to make Novus Black more secure, more sustainable and ultimately a better investment vehicle for our valued clients.
Before the update, it is worth mentioning that as a nation we are in times of great change and uncertainty, many Blue Chips are reporting record breaking losses and many funds have had some of the worst losses since their inception. Despite the precarious nature of the financial and economic market I am pleased to report that Novus Black is still making consistent monthly profits, meaning that since September 2021 (The start of Novus Black) all investors have received maximum return percentages and experienced no losses. Our strategy and risk management processes mean that we are confident that this positive trend will continue, and we can sustain the model for the foreseeable future.
Please read below statements regarding changes to our infrastructure:
FCA Regulated Investment Fund Manager
On the 6th May Novus Black Fund UK Ltd signed an Investment Management Agreement with MCI Global Investment Advisors Ltd (FRN 948996) who are authorised by the FCA to manage investment funds. Gary Wayne, CEO of MCI Global Investment Advisors Ltd provides oversight of all trading and operational activities at Novus Black Fund UK Ltd as part of the agreement to enable us to operate under the FCA license held by his firm.
MCI Asset Management
Regulatory Compliance Officer
In early April we signed an agreement for Regulatory Compliance oversight and reporting to be provided by Barry McNulty (MCSI, IMC), Senior Compliance Consultant at MCM Compliance Consultants. With over twenty years of experience in financial services Barry is ideally placed to advise the firm on all matters related to the ever-changing regulatory landscape. As part of this agreement Barry is also responsible for reporting the firm’s activities to the FCA on a monthly basis.
FCA Approved Cash Custodian
On the 5th July Novus Black Fund UK Ltd appointed Globacap Ltd (FRN 811661) to act as the firm’s cash custodian. This new arrangement means that funds in transit between investor bank accounts and Novus Black Fund UK Ltd will be processed and protected by Globacap who are approved and regulated by the FCA for the holding/control of client money.
As part of the same agreement with Globacap Ltd they will take responsibility for all KYC/KYB requirements during investor on-boarding. This will increase efficiency for document sharing and provide investors with the knowledge that their confidential information will only be shared with an FCA approved firm.
Prime Broker
Novus Black Fund UK Ltd has opened a brokerage account with IS Prime Limited (FRN 629586) a part of the ISAM Capital Markets group. Establishing a relationship with one of the UK’s largest brokers will provide the firm with a larger scope of institutional liquidity within wholesale FX markets. As part of the service provided by IS Prime Limited we will have access to market data that will enable our traders to manage exposure and trade flow as the size of AUM continues to grow.
Corporate Structure
Steven Hill – CEO
Dennis Mullany – Director of Financial Operations
George Challiss – Technical Director
Gary Wayne – FCA Regulated Investment Fund Manager (MCI Global Investment Advisors Ltd)
Barry McNulty – FCA Regulatory Compliance Officer (MCM compliance)
Globacap Ltd – FCA Regulated Cash Custodian
Boodle Hatfield – Legal Advisors
Lambert Chapman – Tax Advisors
KPMG – Trading Performance Auditor
Should you have any questions regarding any of the points in this update, please feel free to email us at info@novusblack.co.uk, or phone us on 020 8187 8287.
We would like to sincerely thank you for your ongoing support with Novus Black and look forward to a prosperous future.
