In addition to managing CCF, Enneking Asset Management also manages private portfolios denominated both in bitcoin and USD.
The minimum amount in either USD or bitcoin to become part of a collective management portfolio is $10,000 or the btc equivalent thereof. The minimum amount for a separate USD- or btc-denominated managed portfolio is $100,000 or the bitcoin equivalent thereof.
Because private portfolios are managed pursuant to a separate fiduciary agreement outside of the CCF structure, investments in managed portfolios are not subject to any lock-up and can be made or withdrawn at any time with reasonable notice (in order to liquidate any open leveraged long or short positions, if necessary).
BTC investors who have held their Bitcoin for an extended period probably have large, unrealized capital gains which, if realized, would result in a major tax bill. Avoiding that tax hit means that such investors must hold their BTC, both riding out all of the peaks and valleys of its volatility and not increasing their BTC holdings.
A managed portfolio does not result in a taxable event because the investor's BTC are not sold, but transferred to the EAM managed portfolio account (currently with Bitfinex). There, investors' BTC are used to secure either leverage or short positions which, if successful, increase the number of BTC held by the investor. (Please note, however, that the increase in number of BTC will likely be taxable.)
While managed portfolios are not automatically subject calculation of monthly results by the CCF administrator and not automatically audited by the CCF auditor, either of both of these can be arranged at the request of any managed portfolio holder at cost.
Portfolio will mirror the performance of the Crypto Currency Fund as closely as possible. Investors in management portfolios can convert their investments into CCF shares and vice versa at any time through normal CCF subscription and redemption procedures.
For additional information, please contact:
Mr. Timothy Enneking
US: +1 320 310 0902
W. Europe: +33 9 70 46 59 02
E. Europe: +7 910 439 1486
Skype ID: timenneking
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