One of the problems facing those new to the cryptocurrency markets is the level of complexity in using exchanges and making trades. Some degree of technical knowledge is required to open, navigate and trade on a crypto exchange account, get one thing wrong and your virtual currency disappears into the ether. Symmetry Fund aims to alleviate the digital distress by offering a balanced cryptocurrency and ICO investment fund.
Crypto investment funds are the best way for those new to the industry or those a little shy on technical expertise to get into the markets. If can be a challenge to learn all of the new terminologies and determine which of the hundreds of cryptos would be the best investment. In addition to offering a balanced portfolio across a range of altcoins and early stage ICOs Symmetry Fund is managed, meaning that they are doing the work so you don’t have to.
The team behind the fund is backed by a team with a strong background in mutual funds and over 30 years of experience. CEO Andre Levin has worked in classic fund management for many years, which included time at Franklin Templeton Investments, Baillie Gifford, and Credit Suisse. Instead of using the traditional method of charging a set percentage of the portfolio annually, Symmetry Fund is performance based which means they only benefit when their clients do.
The fund is unique in that, when not in a trade, cryptocurrencies will be held in fiat to mitigate risks from highly volatile market movements. This ensures that the entire fund is not exposed at any one time and there is a prudent reserve to prevent the effects of large and rapid price fluctuations. The entire fund will have full transparency and shareholders will be self-certified on a daily basis in order to track progress. Shareholders will also be able to vote on the direction of SYMM and count towards decisions such as the portion dedicated to ICO investment and that is traded on currency pairs.
Symmetry Fund ICO
The tokenized fund will be based on the Ethereum platform and SYMM tokens will be available during the ICO. Ethereum was chosen over other networks as it has an existing support base and is the stable choice for many new blockchain products.
Unlike most other coins an unlimited amount of SYMM will be made available during the ICO which will have two rounds. The first round began on December 10 and is currently running until February 10, the second will run from Feb 11 to April 10. Tokens are priced at 0.1 ETH each and will represent a single share in the fund which will be powered by most of the capital raised in the ICO.
According to the white paper, 70% of the fund will be invested in BTC, LTC, DAS, ETH, and XRP with 20% going into high potential ICOs. Up to 10% will be held back for administration and prudent reserves. Management fees depend on the amount of investment.
During round 1 all investments will be managed at 7.5%. For round 2 investments over 100 ETH in SYMM shares will remain at this rate while those under 100 ETH will be charged 15% management fee. The fund will move into the trading phase once the ICO has completed, tokens can then be withdrawn and converted back into fiat if desired. SYMM will then be coming to some of the world’s major exchanges shortly after where it can be traded openly.
When the fund makes a profit, dividends will be paid to investors in ETH. Profits are determined by subtracting the amount the fund was worth at the end of the previous month from what the fund is worth at the start of the current month, less management fees if applicable. No management fees will be charged when there is no profit.
In 2017 people could invest in crypto and make huge gains themselves, however, when market regulation starts to happen, as it will this year, those volatile price shifts will not be so common. This is when a professionally managed fund will make the difference and the team can adjust to new market conditions quickly.
What do you think of Symmetry Fund’s concept? Is it a safer alternative for new cryptocurrency investors? Let us know in the comments below.
Images courtesy of Shutterstock