Disclosures

The firm

KJC Capital is the trading name of KJC Capital Ltd, a company incorporated in the British Virgin Islands and having its registered office at Craigmuir Chambers, Road Town, Tortola.

What the firm does

KJC Capital manages accounts belonging to its clients. It does not operate a fund, does not issue units or shares, and does not pool one client's capital with another's. Each engagement is a separate account, held by the client, traded by the firm under an authority the client grants. The terms of each engagement are set out in the client agreement, which is provided on introduction and prevails over anything on this site.

Custody of capital

KJC Capital does not hold client money and does not take custody of client assets. A client's capital sits in an account opened with a broker in that client's own name, under the client's own credentials, and the broker is the custodian. The firm is granted a limited authority to place trades in the account. That authority does not extend to withdrawing, transferring, or pledging assets, or to changing the ownership of the account, and the client may revoke it directly with the broker at any time.

Fees

The fee basis is agreed in the client agreement before any trading authority is granted, and is not varied during an engagement without the client's written consent. Because the firm has no authority to move money out of a client's account, it cannot deduct its own fees from that account on its own initiative.

Conflicts of interest

The principals of KJC Capital run the same programme on their own capital, in their own accounts. The firm considers this the strongest available check on the manner in which the programme is run. Because accounts are separate rather than pooled, orders for different accounts may be filled at different prices; the firm allocates and sequences orders on a stated basis rather than at its discretion after the fact. Where the interests of the manager and of a client might nevertheless diverge, the manager will act in the interests of the client.