Firstly let me start by apologising for the slight delay with the monthly update email. It has been extremely busy at Novus Black, all in a very positive way, but it has caused a slight delay in sending our monthly update.
January has been perhaps one of the most iconic months in the growth of Novus Black and a month that will set out a clear positive path for the year ahead.
Although another demanding month in the markets, we managed to close out with an impressive 6.8% profit, another month of no losses, and another month of being able to pay our investors notable returns.
January saw the official opening of the new Novus Black’s office in Wales, which will be used to home our internal trading team comprised of five key members; Head of Trading, Institutional Trading Manager, Chief Market Analyst, Risk and Compliance Manager, and Institutional Trader.
As many of our early adopters will know, we have relied on our Texas team to manage day-to-day trading activities, which has always concerned us logistically speaking. Based on this, we have been testing a new strategy for the last six months and building a UK-based team to facilitate it. Based on the results and alignment of various factors, we are officially happy to announce this new addition to Novus Black’s structure.
With the Fund now approaching $4m AUM, it is imperative to tighten the operational controls that we have in place, and having a UK-based team is a crucial part of that. This means we now have a company where investors can physically visit the trading floor themselves, see their capital being traded, and meet the new additional team members. All visits are by appointment only as it is a live trading environment, so please let me know if you wish to do this, and I will make the necessary arrangements.
February will see another trip to Dubai for Novus Black to strengthen UAE relations which will expedite growth plans considerably; we will update everyone regarding this in due course.
I expect February to be very exciting for Novus Black, and I am genuinely excited to report back to you all at the end of the month with hopefully some more great news.
January Trading Report
January was a regular and quiet start to the trading year with low liquidity, as institutional traders traditionally don’t start back until the second week of January.
USA dominated the month, with both significant US indices forming a solid buying trend during the second week of January, and this held with substantial gains through to the end of the month.
On the foreign exchange, all US-related currency pairs saw a further weakening of the dollar against the major currencies through January. The Federal Reserve has placed key factors on increasing the dollar’s strength, but this was somewhat thwarted during the last few months.
A Look Ahead
Looking forward to February, the month has started with a raft of major US, UK and EU news which has made markets very unstable and volatile beginning the month. This has affected the US indices with a halt to the significant rise and probably consolidation. There is also a rebalance due, and we may see the major US indices retrace somewhat to the Fibonacci 38% or 50% level of the January upward move. The foreign exchange market is expected to see some strengthening now of the US dollar, and many of the markets are starting to form trends to the downside for most of the major currencies, especially GBP and EUR markets.
Withdrawal Process
As Novus Black grows, we are looking to streamline many processes to offer our investors a more robust and straightforward product. One of the first areas we want to examine is how clients withdraw funds and make it very clear how this process works.
1 – Withdrawals must be made via your online Novus Black account. When you log into your account, you will see a button in the top right-hand corner that says “withdraw funds.”
2 – Once you have clicked the “withdraw funds” button, you can choose how much you wish to withdraw and the method. At this point, you will be prompted to confirm your bank details.
3 – Once this has been submitted, by clicking the button that says “submit request”, it will be sent to our financial department.
4 – The financial team will approve this request and add it to the payment cue for the end of the month.
5 – You may request withdrawals from your Novus Black account at any time. However, the cut of the period for requesting withdrawals is three business days into a new month. Only requests made via your Novus Black account will be accepted which means emails, WhatsApp or any other communication, will not be accepted.
6 – On the 3rd business day of a new month, the finance team will instruct all withdrawal payments. Typically, this process will take up to three business days. Therefore, we aim to have cleared funds into an investor’s bank account by the end of the 7th business day.
Changes To The IM (Information Memorandum)
Over the coming months, we will be making changes to the IM to reflect developments in the business structure and trading strategies. Once these changes have been made, all investors will be sent the latest version to read at leisure.
However, the most notable addition that will come into effect before the IM is released is the inclusion of a new trading permission that will complement the existing strategies.
Novus Black has always traded US Indices representing the largest publicly-owned companies trading on the New York Stock Exchange and Nasdaq. As the Fund grows, our traders need to access larger liquidity pools. For that reason, we will include in our trading permissions the ability to trade the largest companies within the US and European indices individually.
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.
