The SICAV Fund in Malta
All structural, administrative and formal issues are expected to be in place in the coming weeks.
FXI's legal representative in Malta is now establishing the fund structure in accordance with the application. The work has already been prepared earlier this year and we therefore expect that all partners, accounts and other formalities will be in place quickly. The fund will hereafter be activated and linked to the algorithm for initial testing. We expect this to happen shortly, and trading should be up and running once we have all formalities in place - hopefully it will be before year ends.
During this process, the trading with our own assets continues in cooperation with Valor, in order to generate continued good returns.
“We are very eager to get started with the sales process. Everything looks very promising and as soon as the prospectus is ready and the fund can be marketed, the fun work begins with building an international sales network. The unofficial test has exceeded all expectations, so we expect a good tailwind. The fund is initially capitalized with SEK 100 million in the first quarter and our goal at the end of 2020 is for AUM to have doubled”, says Ole Helland CEO, FX International AB (publ).
Background
At the beginning of the year, FX International AB, in collaboration with Valor, submitted an application to Malta's Financial Supervisory Authority (MFSA) for permission to create an alternative investment fund (SICAV) to be managed at 100% of artificial intelligence. The fund is started with an expected initial capital of SEK 100 million. The fund is only intended for professional investors.
More information will be provided on an ongoing basis via Cision, Spotlight, our website and through our newsletter. Please let us know your interest in this information for ongoing updates! You can easily do this on our website and / or Spotlight.
For additional information please contact:
Ole Helland, CEO
Mobile: +46 793 376 791
ole.helland@fxi.se
FX International AB (publ) is a public limited company registered in Sweden and listed at Spotlight Stock Market (ticker FXI). FXI conducts automated foreign exchange trading and is registered as a financial institution at the Swedish financial supervisory authority (Finansinspektionen abbreviated FI).
The company"s business model focuses on algorithm-driven trading using artificial intelligence within the foreign exchange market.
The focus on management is to achieve risk-adjusted investment strategies that intend to achieve positive absolute returns through exposure in currency markets, with low or no correlation to actual business cycles. Trading is based on our own trading platform, Genova FX ™, which utilizes statistical models based on artificial intelligence to achieve attractive and stable returns in the international currency market.