Risk warning

Capital committed to the KJC Capital programme is at risk. The programme is speculative, it is conducted in your own account, and it is possible to lose everything in that account.

Nature of the strategy

The programme pursues a leveraged trading strategy across precious metals, proprietary systematic strategies, digital assets, and select alternatives. Leveraged strategies magnify both gains and losses, and realised returns in any period may differ materially from the returns of the underlying markets traded. Past performance, whether of this programme or of any prior programme run by the firm's principals, is not a guide to future returns.

Risks specific to the registers

Precious metals carry no yield, and a position in them can fall in value for extended periods. Systematic strategies are fitted to conditions that may not recur, and a model that has worked can stop working without notice. Digital assets are volatile, are held with third-party venues and custodians whose failure could cause total loss of the amount held there, and are subject to a regulatory position that is unsettled and may change against you. Alternatives may be illiquid, may be difficult to value, and may not be realisable at the figure most recently shown on a statement.

What the structure does and does not protect you from

Because the account is yours, the firm does not hold your money and cannot withdraw from the account. That protects you from the firm failing, from the firm misapplying your capital, and from being unable to get your money back without our cooperation. It does not protect you from losing money. A trading loss inside your own account is still your loss, and it is the ordinary and expected risk of the programme.

Your broker

Your capital is exposed to the broker holding it. The protections available to you, including any compensation scheme and any segregation of client assets, are the broker's and not the firm's, and they vary by broker and by jurisdiction. Satisfy yourself about the broker before funding an account, and understand what happens to your assets if that broker fails.

Liquidity

Committing capital to the programme is not a bank deposit. There is no notice period imposed by the firm and no gate, because the firm does not hold your money. Whether you can withdraw on a given day is a matter between you and your broker, and may be constrained by open positions and by the settlement terms of the instruments held.

Regulatory status

KJC Capital is based in the British Virgin Islands. Managing another person's account at the manager's discretion is a regulated activity in most jurisdictions, and the protections available to you depend on the basis on which the firm is permitted to conduct it. Ask the firm directly what that basis is, and read the client agreement, before granting any trading authority.

Not for United States persons

The programme is not offered to, and no authority will be accepted from, any person who is a United States person within the meaning of Regulation S under the Securities Act of 1933.