Added a position in LTC-ATF.B1 to further enhance diversity. The fund is currently positioned as such:
Topic: [LTC-GLOBAL]LTC-DMF (Read 3585 times)
Update:
Added a position in LTC-ATF.B1 to further enhance diversity. The fund is currently positioned as such:
Added a position in LTC-ATF.B1 to further enhance diversity. The fund is currently positioned as such:
Update:
I was able to raise NAV/U by liquidating most of the fund's position in SA-2 and buying back at lower levels. A stake was also taken in the very successful LTC-Arcade IPO. Those shares appear to be stabilizing around 7. Here's a snapshot of the fund's positions currently:
I was able to raise NAV/U by liquidating most of the fund's position in SA-2 and buying back at lower levels. A stake was also taken in the very successful LTC-Arcade IPO. Those shares appear to be stabilizing around 7. Here's a snapshot of the fund's positions currently:
A great first day of trading! Over half of the initially allocated units have been sold. Thanks to everyone that invested.
True to it's name the fund has already made 4 dividend disbursements totaling over 4LTC. Who doesn't love dividends?
True to it's name the fund has already made 4 dividend disbursements totaling over 4LTC. Who doesn't love dividends?
LTC-DMF(Dividend Mutual Fund)
Overview:
The purpose of this fund is to increase shareholder value by investing in assets that maximize dividend yield while offering the security of a well maintained and diversified portfolio that mitigates the inherent danger in excessive exposure to a single asset or asset issuer. To meet this objective LTC-DMF will invest in dividend bearing securities listed on LTC-GLOBAL, Cryptostocks(https://cryptostocks.com/), and https://btct.co/. Investments will be primarily in LTC denominated assets, however LTC-DMF management reserves the right to invest in dividend bearing assets denominated in other crypto-currencies. In this event, management will convert all dividend payments to LTC at the best exchange rate available for immediate dispersal to LTC-DMF investors. All investment decisions will be made with the goal of maximizing investor dividend payments while maintaining a high degree of diversity.
Initial Offering:
The fund will begin trading seeded with dividend bearing assets worth approximately 1000LTC. Initially 1000 units will be offered at a price of 4LTC each. Investors in LTC-DMF will be entitled to 80% of the dividends generated, 10% of dividends received will be reinvested, and 10% will be paid to fund management. Dividends received by the fund will immediately be dispersed to investors of LTC-DMF.
Additional offerings:
Additional units of LTC-DMF will only be authorized if and when LTC-DMF reaches a 7day Avg Value that is 150% of IPO value. At such a time additional units equal to 25% of outstanding units will be authorized for sale on the open market at a price no lower than 150% of the IPO price. Future issues will follow this same pattern, requiring an additional 50% increase over IPO price(6,8,10) to authorize fund management to offer 25% more units for sale. The intent is to allow for fund growth while minimizing dilution.
Reinvestment Fund:
10% of dividends received by LTC-DMF will be reinvested to increase investor value. These funds will be used to purchase new assets or to buy back low priced units of LTC-DMF on the open market.
Management Fee:
Fund management will receive as compensation 10% of dividend payments received, payable in LTC-DMF units. These unit(s) will be issued at LTC-DMF NAV/U(Net Asset Value/Unit).
Fund Closure:
If for any reason LTC-DMF management is unable to continue operations or if LTC-GLOBAL ceases to exist, all assets held by LTC-DMF will be liquidated and dispersed to shareholders.
https://www.litecoinglobal.com/security/LTC-DMF
http://forum.litecoin.net/index.php/topic,886.0.html
Breakdown of assets held added:
https://docs.google.com/spreadsheet/ccc?key=0ArTS7AD--9SWdHJ6SkVpWFhLOG84Y2N0ZDYxSGE3X0E
Edit: Prospectus updated.
A word about the exchange in which LTC-DMF trades(litecoinglobal.com). We've all seen the horrifying threads on bitcointalk filled with investors and asset issuers alike held hostage by GLBSE management's apparent refusal to release investor information so that asset issuers can disburse funds. That situation will not happen with LTC-DMF. Asset issuers have continuously updated contact and share information available to them. This information is also automatically emailed periodically by the exchange to ensure that if anything happens to the exchange that issuers and investors will not be left in the dark...IOW GLBSE'd.
Overview:
The purpose of this fund is to increase shareholder value by investing in assets that maximize dividend yield while offering the security of a well maintained and diversified portfolio that mitigates the inherent danger in excessive exposure to a single asset or asset issuer. To meet this objective LTC-DMF will invest in dividend bearing securities listed on LTC-GLOBAL, Cryptostocks(https://cryptostocks.com/), and https://btct.co/. Investments will be primarily in LTC denominated assets, however LTC-DMF management reserves the right to invest in dividend bearing assets denominated in other crypto-currencies. In this event, management will convert all dividend payments to LTC at the best exchange rate available for immediate dispersal to LTC-DMF investors. All investment decisions will be made with the goal of maximizing investor dividend payments while maintaining a high degree of diversity.
Initial Offering:
The fund will begin trading seeded with dividend bearing assets worth approximately 1000LTC. Initially 1000 units will be offered at a price of 4LTC each. Investors in LTC-DMF will be entitled to 80% of the dividends generated, 10% of dividends received will be reinvested, and 10% will be paid to fund management. Dividends received by the fund will immediately be dispersed to investors of LTC-DMF.
Additional offerings:
Additional units of LTC-DMF will only be authorized if and when LTC-DMF reaches a 7day Avg Value that is 150% of IPO value. At such a time additional units equal to 25% of outstanding units will be authorized for sale on the open market at a price no lower than 150% of the IPO price. Future issues will follow this same pattern, requiring an additional 50% increase over IPO price(6,8,10) to authorize fund management to offer 25% more units for sale. The intent is to allow for fund growth while minimizing dilution.
Reinvestment Fund:
10% of dividends received by LTC-DMF will be reinvested to increase investor value. These funds will be used to purchase new assets or to buy back low priced units of LTC-DMF on the open market.
Management Fee:
Fund management will receive as compensation 10% of dividend payments received, payable in LTC-DMF units. These unit(s) will be issued at LTC-DMF NAV/U(Net Asset Value/Unit).
Fund Closure:
If for any reason LTC-DMF management is unable to continue operations or if LTC-GLOBAL ceases to exist, all assets held by LTC-DMF will be liquidated and dispersed to shareholders.
https://www.litecoinglobal.com/security/LTC-DMF
http://forum.litecoin.net/index.php/topic,886.0.html
Breakdown of assets held added:
https://docs.google.com/spreadsheet/ccc?key=0ArTS7AD--9SWdHJ6SkVpWFhLOG84Y2N0ZDYxSGE3X0E
Edit: Prospectus updated.
A word about the exchange in which LTC-DMF trades(litecoinglobal.com). We've all seen the horrifying threads on bitcointalk filled with investors and asset issuers alike held hostage by GLBSE management's apparent refusal to release investor information so that asset issuers can disburse funds. That situation will not happen with LTC-DMF. Asset issuers have continuously updated contact and share information available to them. This information is also automatically emailed periodically by the exchange to ensure that if anything happens to the exchange that issuers and investors will not be left in the dark...IOW GLBSE'd.
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