Magnus Core

SVB situation appears to have inspired bailouts to be considered by the Fed. Removing remaining USDT exposure from account (about 13%) and placing in crypto.

Closing USDC position and putting into most oversold lines. A tactical move to reduce counterparty risk. USDT position remains on account. We don't believe the selloff is over yet - counterparty risk musty be respected.

Taking the account to c. 25% stable coins.

Minor rebalance on the account - moving 10% slice of the assets to stable coins. Will rebuy crypto on price pullback.

putting a major rebalance on now - done slow.

Buying ISO20022 compliant/close to compliant names. An event trade to capture upside from favourable SEC vs. Ripplelabs outcome. Once done will put P&L back to the small cap lines which is the core strategy.