As part of our live test of the No. 2 Fund (Intraday FX Programme) I'm excited to report the continued performance of this strategy. Whilst it's still very early days, this should open up an added dimension to our product choice for investors - a more conservative option, expected to return 0.05% per day (~10% per annum) that exhibits very little variance and draw-down.
Evidently, with our Macro Fund yet to enter a trade this year, there is considerable virtue in consistently producing profit regardless of market conditions. Indeed with a "-10% Ruin Probability" of less than 0.01%, as shown in the link above, the new programme will be very much JF Capital's own Treasury bond - a safe harbour for our more conservative investors.
So why is the Macro Fund, supplemented by our esoteric blog and idea forum, yet to enter a trade?
The entries just aren't quite clear cut enough yet - a range trading market must always be approached with caution and often provides the perfect stretch for observation and idea formation.
Our AUDUSD and AUDEUR trade idea played out nicely and we continue to believe there is further value in these pairs. Away from that, we have a number of other ideas on the cusp of execution. The timing of a trade is the difference between small and large profits, long term break-even and long term winner. Rest assured, we will happily wait for 364 days if on the 365th we make our alpha.
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