Unit Value and Return Rate
Historical NAV of XMM unit, measured in different currencies:
| (exchange rate)^ | |||||
| XMM/XRP | XMM/USD* | XMM/BTC* | USD/XRP | BTC/XRP | |
| 28/02/14 | 1.000 | 0.01420 | 0.00002481 | 70.44 | 40,300 |
| 31/03/14 | 1.426 | 0.01306 | 0.00002755 | 109.14 | 51,761 |
| 30/04/14 | 2.590 | 0.01370 | 0.00003103 | 188.98 | 83,466 |
| 31/05/14 | 3.084 | 0.01243 | 0.00002057 | 248.08 | 149,903 |
| 30/06/14 | 3.433 | 0.01312 | 0.00002153 | 261.65 | 159,415 |
| 31/07/14 | 2.675 | 0.01397 | 0.00002390 | 191.50 | 111,912 |
| 31/08/14 | 3.024 | 0.01486 | 0.00003013 | 203.50 | 100,336 |
| 30/09/14 | 3.164 | 0.01512 | 0.00003922 | 213.88 | 82,941 |
| 31/10/14 | 3.335 | 0.01626 | 0.00004745 | 205.13 | 70,300 |
* Calculated based on the exchange-rates listed on the right columns.
^ exchange-rates are vwap of IOU.Bitstamp on the last day of each month (source: ripplecharts.com).
Return rate, measured in different currencies:
| ~XRP | ~USD | ~BTC | average | |
| Mar-2014 | 42.6% | -8.0% | 11.0% | 15.2% |
| Apr-2014 | 81.6% | 4.9% | 12.6% | 33.0% |
| May-2014 | 19.1% | -9.3% | -33.7% | -8.0% |
| Jun-2014 | 11.3% | 5.5% | 4.7% | 7.2% |
| Jul-2014 | -22.1% | 6.5% | 11.0% | -1.5% |
| Aug-2014 | 13.0% | 6.4% | 26.1% | 15.2% |
| Sep-2014 | 4.6% | -0.4% | 26.6% | 10.3% |
| Oct-2014 | 5.4% | 9.9% | 24.4% | 13.2% |
| 3-months ended Oct. | 24.7% | 16.4% | 98.5% | 46.5% |
| 6-month ended Oct. | 28.8% | 18.7% | 52.9% | 33.5% |
Review and Comment:
During the month, NAV of our fund appreciated 5.4% against XRP and 9.9% against USD, and 24.4% against BTC. The average return rate was 13.2%, which is in-line with our internal target.
XRP price was rather stable in October, while BTC continue a mile downtrend. The performances of our bots during this period are quite satisfactory.
The Fund recorded an average return of 46.5% for 3-month period, and 33.5% for 6-month period ended October-2014.
XMM's Contribution to Liquidity
(followings figures was the trading data during 25th-Oct ~ 31st-Oct.)
BTC/XRP and BTC/USD markets:
| XMM Trade Volume | % of Total volume | |
| BTC.Bitstamp / XRP | BTC 4.297 | 0.44% |
| BTC.SnapSwap / XRP | BTC 7.026 | 0.79% |
| BTC.TheRock / XRP | BTC 0.008 | 0.06% |
| BTC.Bitstamp / USD.Bitstamp | BTC 1.617 | 1.60% |
| BTC.Bitstamp / USD.SnapSwap | BTC 1.952 | 11.01% |
| BTC.SnapSwap / USD.Bitstamp | BTC 1.830 | 16.71% |
| BTC.SnapSwap / USD.SnapSwap | BTC 5.089 | 1.18% |
| BTC.Bitstamp / CNY.RippleChina | BTC 0.763 | 6.30% |
| BTC.Bitstamp / CNY.RippleCN | BTC 0.901 | 24.10% |
| BTC.SnapSwap / CNY.RippleChina | BTC 1.675 | 12.75% |
| BTC.SnapSwap / CNY.RippleCN | BTC 1.227 | 13.74% |
Fiats/XRP and Fiats/USD markets:
| XMM Trade Volume | % of Total volume | |
| USD.Bitstamp / XRP | USD 4,587 | 0.47% |
| USD.SnapSwap / XRP | USD 8,540 | 1.77% |
| CNY.RippleChina / XRP | CNY 29,226 | 2.33% |
| CNY.RippleCN / XRP | CNY 39,765 | 2.47% |
| EUR.SnapSwap / XRP | EUR 2,270 | 8.77% |
| EUR.TheRock / XRP | EUR 1,267 | 8.46% |
| NZD.Coinex / XRP | NZD 207 | 14.90% |
| MXN.Bitso / XRP | MXN 6,533 | 16.38% |
| USD.LakeBTC / XRP | USD 170 | 50.00% |
| USD.Bitstamp / CNY.RippleChina | USD 1,361 | 3.92% |
| USD.Bitstamp / CNY.RippleCN | USD 1,022 | 1.05% |
| USD.SnapSwap / CNY.RippleChina | USD 3,633 | 8.61% |
| USD.SnapSwap / CNY.RippleCN | USD 3,349 | 6.82% |
| USD.Bitstamp / EUR.SnapSwap | USD 1,690 | 34.76% |
| USD.SnapSwap / EUR.SnapSwap | USD 8,518 | 16.65% |
| USD.Bitstamp / EUR.TheRockTrading | USD 1,197 | 39.94% |
| USD.SnapSwap / EUR.TheRockTrading | USD 3,658 | 40.29% |
| USD.Bitstamp / NZD.Coinex | USD 237 | 50.00% |
| USD.SnapSwap / NZD.Coinex | USD 258 | 39.22% |
| USD.Bitstamp / MXN.Bitso | USD 324 | 4.97% |
| USD.SnapSwap / MXN.Bitso | USD 805 | 14.24% |
| USD.Bitstamp / USD.LakeBTC | USD 60 | 1.14% |
| USD.SnapSwap / USD.LakeBTC | USD 80 | 35.89% |
Metals markets:
| XMM Trade Volume | % of Total volume | |
| XRP / XAU.GBI | XRP 267,423 | 45.36% |
| XRP / XAU.RippleSingapore | XRP 0.00 | 0.00% |
| XRP / XAG.RippleSingapore | XRP 5,414 | 2.52% |
| USD.Bitstamp / XAU.GBI | USD 697 | 16.15% |
| USD.SnapSwap / XAU.GBI | USD 730 | 8.82% |
| USD.Bitstamp / XAU.RippleSingapore | USD 0 | 0.00% |
| USD.Bitstamp / XAG.RippleSingapore | USD 0 | 0.00% |
All data above were obtained through queries with RippleCharts API.
Units and Holders Analysis
| Unit in Circulation | |
| 28/02/14 | 111,042 |
| 31/03/14 | 167,198 |
| 30/04/14 | 245,885 |
| 31/05/14 | 424,209 |
| 30/06/14 | 479,689 |
| 31/07/14 | 455,570 |
| 31/08/14 | 314,068 |
| 30/09/14 | 346,730 |
| 31/10/14 | 307,617 |
| Statistic of holders on 31st-October | |
| < 10 unit | 19 |
| [10 – 100) | 8 |
| [100 – 1000) | 17 |
| [1k – 10k) | 19 |
| >= 10k | 8 |
| TOTAL | 71 |
Unit-in-circulation decreased by ~40k or ~13% as compared to end-of-September. The new-issues/redemption prices quotes by hotwallet was maintained at ~5% spread through out the whole month.
Others
After three months of operation on Ripple Dividend, recently I'm re-considering the idea of converting XMM into a dividend-paying or simple interest-bearing fund. The exact model is yet to be finalized, and announcement would be made if there's a decision.
