The Financial Conduct Authority (FCA) has granted MCI Global Investment Advisors Limited’s (FRN 948996 (MCI) application to place requirements on it, which will impact the management of Novus Black Fund Ltd (NBF). These regulatory actions are intended to protect the interests of investors.

Key Details of the Requirements:

Novus Black Fund UK Ltd:

• No new activity will be conducted on any broker accounts held for NBF.
• All open positions at brokers will be closed, including the netting off of any fully hedged positions.
• Daily reporting of the broker account balances will be provided to the FCA until further instructions are received.
• Broker balances will be transferred in accordance with FCA written instructions.

More details of these requirements are available on MCI’s Financial Services Register entry
at:  https://register.fca.org.uk/s/firm?id=0014G00002fd8htQAA

A further update will follow in due course.

MCI Global Investment Advisors Limited