ARION NEW SUBSCRIPTIONS TEMPORARILY SUSPENSION
Despite the North Korea/US showdown and the increasingly evident Trump’s isolation in presidency and other factors that could spike the volatility to other higher levels, market keeps showing a reasonable degree of complacency as shown by VIX index, which has peaked at around 17 on Trump’s comments regarding the recent Charlottesville’s events or at around 16 when Kim Jong-un decided to fly a missile over Japanese sovereign territory. Last year, on a mere less than clear comment from the BoJ governor, VIX jumped to over 20.
Nothing seems to release the energy we still believe to be accumulating in the markets. While we still believe the markets will sooner or later return to higher levels of volatility, we must also recognize that, during the past months, Arion’s performance hasn’t been in line with out objectives and with its past behavior.
Moreover, the quality of the late volatility is not the best for Arion to excel in performance. As we have clarified before, Arion performs best when the volatility comes from market events that are clear in their impacts and so that markets can digest clearly. What to say when, in the current market phase, a Noth Korea projectile flies over Japan, but the market flies at the same time to the yen as safe haven currency ?
With this setting in mind, we have decided to concentrate our efforts in fixing what there is to fix in Arion and avoid any additional energy on marketing the product and dealing with new customers. We stand by the long term profitability targets of the product.
This is why we decide to suspend temporarily the acceptance of new subscriptions after the 1st of September.
Current customers are of course welcome to remain in the service as long as they wish. We will however reach by email them regarding more information about how will the evolve and options available.
Please note that we take this decision out of Odysseia Capital’s core attribute to always provide the best service possible to its customer base, as the recent drawdown experienced by the strategy is still very far away from the 30% maximum allowed or even the 21% maximum ever experienced.
We will reopen ARION subscriptions with renewed strenght, when it shows us again more consistent behavior and profit pattern to our customers.
We also take the opportunity to inform that our NEXUS strategy is in the works and already showing quite interesting results in a real money account. Stay tuned!