Highly Successful Year for Diginex's Crypto Asset Management business, 'Bletchley Park'

Rhea-AI Summary

Diginex Limited (Nasdaq: EQOS) reported a remarkable 35% net return for its Bletchley Park Multi Strategy Fund (BPMSF) over the last twelve months as of January 31. The fund, focused on alpha strategies with minimal directional exposure to crypto prices, has outperformed in 10 out of 15 months since its inception in November 2019. The Sharpe ratio exceeds 2, indicating a favorable risk-adjusted return. CEO Richard Byworth emphasized the growing interest in digital assets, marking a transformative year for the company.

Positive

• BPMSF generated an estimated 35% net return over the past year.
• Fund has outperformed in each month when bitcoin prices declined.
• 10 out of the last 15 months showed positive returns since inception.
• The Sharpe ratio of the fund is above 2, indicating strong performance.

Negative

• None.

SINGAPORE, March 1, 2021 /PRNewswire/ -- Diginex Limited (Nasdaq: EQOS), the digital assets financial services company, today announces that its flagship liquid alpha centric fund of crypto hedge funds, Bletchley Park Multi Strategy Fund (BPMSF), generated an estimated net 35% return for the last twelve months, as of January 31.

BPMSF primarily invests in alpha strategies that generate returns with limited directional exposure to underlying crypto prices (e.g., movements in the price of bitcoin). BPMSF has achieved this through investing in a range of carefully selected crypto hedge fund managers with the objective of being profitable in a range of market conditions, including periods of declining crypto currency prices.

Returns can potentially be generated from arbitrage, market making, short term trading opportunities, momentum, relative value strategies, and many other opportunities that are unique within crypto markets. This diverse composition of strategies has enabled the fund to generate positive returns in 10 out of the past 15 months, since inception in November 2019 and, notably, the fund has outperformed in each and every month when bitcoin has had a negative return.

The investment team has screened over 350 funds since research began on the fund in 2018, selecting the best and most investible managers within each style category. The Sharpe ratio of the fund is above 2 and the estimated 12 month net return of 35% highlights the unique alpha available in this new asset class.

Thomas Chladek, Fund Manager of BPMSF, said: "I am delighted to have closed out the first full calendar year with strong investor returns. Our due diligence process is at the forefront of the industry and the expertise we've generated over three years of research allows us to identify strong managers for the future. We have analyzed literally hundreds of potential managers so that we can find the absolute best in each class."

Shane Edwards, Head of Investment Products, at Diginex added: "This is a truly unique fund proposition. Crypto markets offer opportunities that do not exist elsewhere. The market is still evolving, and smart traders have the opportunity to make real alpha. I believe 2021 is the year investors recognize this and understand the value it brings to a regular portfolio or even portfolios with significant allocations to conventional hedge funds."

Richard Byworth, CEO of Diginex, concluded: "This is a great start for the fund's track record, and a strong finish for 2020, which was a transformative year for Diginex. Across the board we are achieving a number of key milestones and are seeing an unprecedented level of interest as financial markets' participants increasingly recognize the opportunity in digital assets."

The fund is operated under the Bletchley Park brand, which is fully owned by Diginex, now under the management of Diginex SA, a member of the Association Romandedes Intermédiaires Financiers (ARIF), a Self-Regulatory Organization recognized by the FINMA in Switzerland.

- ENDS –

About Diginex

Diginex is a digital assets financial services company focused on delivering a cryptocurrency and digital assets ecosystem offering innovative product and services that are compliant, fair and trusted. The group encompasses cryptocurrency exchange EQUOS.io as well as an over-the-counter trading platform. It also offers a front-to-back integrated trading platform Diginex Access, a securitization advisory service Diginex Capital, market leading hot and cold custodian, Digivault and funds business Bletchley Park. For more information visit: https://www.diginex.com/.

Follow Diginex on social media on Twitter @DiginexGlobal, on Facebook @DiginexGlobal, and on LinkedIn. Follow EQUOS.io on social media on Twitter @EQUOS_io and on LinkedIn.

Forward Looking Statements

This press release ("Press Release") is prepared by Diginex Limited ("Diginex") and is provided for information purposes only and is a summary only of certain key facts and Diginex plans.  This Press Release does not constitute an offer or solicitation or form part of an offer or solicitation of any kind to anyone in any jurisdiction in relation to any securities or other regulated products or services. Without limitation, the Press Release does not constitute an offer or solicitation to make use of any services provided by Diginex, and neither this Press Release nor anything contained in it will form the basis of any contract or commitment whatsoever. The contents of this Press Release have not been reviewed by any regulatory authority in any jurisdictions. Statements contained herein as to the content of any agreement or other document are summaries and, therefore, are necessarily selective and incomplete and are qualified in their entirety by the actual agreements or other documents. This Press Release includes forward looking statements that involve risks and uncertainties. Forward looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results or outcomes to differ materially from the forward-looking statements. Most of these factors are outside of Diginex's control and are difficult to predict. Factors that may cause such differences include, but are not limited to: the ability to recognize the anticipated benefits of the business combination; the ability of Diginex to grow and manage growth profitably; Diginex's limited operating history and history of net losses; Diginex's ability to execute its business plan; the inability to maintain the listing of Diginex's shares on NASDAQ; Diginex's estimates of the size of the markets for its products; the rate and degree of market acceptance of Diginex's products; Diginex's ability to identify and integrate acquisitions; potential litigation involving Diginex or the validity or enforceability of Diginex's intellectual property; general economic and market conditions impacting demand for Diginex's products and services; and such other risks and uncertainties indicated in Diginex's Shell Company Report on Form 20-F, including those under "Risk Factors" therein, and in Diginex's other filings with the SEC, which are available on the SEC's website at www.sec.gov. In addition, any forward-looking statements contained in this press release are based on assumptions that Diginex believes to be reasonable as of this date. Diginex undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law. Other than those of Diginex, all names, trademarks and logos in this Press Release and used in the materials herein belong to their respective owners. Nothing contained on this Press Release should be construed as granting, by implication, estoppel, or otherwise, any right or license to use any third-party names, trademarks, or logos displayed on the Press Release without the written permission of such third-parties. Copyright (c) Diginex 2021.

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SOURCE Diginex Limited

FAQ

What is the recent performance of Diginex's Bletchley Park Multi Strategy Fund (EQOS)?

As of January 31, Diginex's Bletchley Park Multi Strategy Fund (EQOS) reported a net return of 35% over the last twelve months.

How has the Bletchley Park Multi Strategy Fund performed during declining bitcoin prices?

The fund has outperformed every month when bitcoin experienced negative returns.

What is the Sharpe ratio of Diginex's BPMSF fund?

The Sharpe ratio of the Bletchley Park Multi Strategy Fund is above 2.

Since when has the Bletchley Park Multi Strategy Fund been operational?

The fund has been operational since its inception in November 2019.

What strategies does the Bletchley Park Multi Strategy Fund utilize?

The fund employs alpha strategies that include arbitrage, market making, and short term trading opportunities.