Where is registered your company?
We are registered under the laws of Delaware as an LLC, with registered number 4888354.

Are all your results live?
Yes. This only is possible under a managed account structure.

Could you please specify the percentage of winning trades and losing trades per month and/or year?
90% of trades per month are positives.

What is Oanda?
Oanda Coporation is a forex broker registered with the National Futures Association and the Commodity Futures Trading Commission in the USA (NFA ID #0325821).  Also is the Futures Commission Merchant (FCM) for HMNH Capital, LLC and is the counterparty for all forex transactions and uses innovative computer and financial technology to provide internet-based forex trading and currency information services to everyone, from individuals to large corporations, from portfolio managers to financial institutions.

How safe are my funds with Oanda?
Your accounts are secured in Oanda's clients funds account with JPMorgan Chase Bank in New York, USA.
When asked about the security of funds, this is the answer provided to us by Oanda: “Our customer accounts are strictly separate and segregated from any operational accounts and are never used for anything other than customer deposits and withdrawals.”

What is FXManager?
FXManager is an interface used by investment managers trading client funds in the forex market. The interface features multi-client trade execution, automatic payment scheduling and full transaction reporting.

Which is the user guide for clients?
Please, visit the FXManager user guide for clients

How do I log into Oanda to check my account?
Login with FXManager with the username and password you created when you opened the account with Oanda.

How do I fund my account?

• You can fund your account by bank wire, check/money order, or paypal after you receive the confirmation email from Oanda that your account is ready for funding
• You can receive withdrawals only by the same method with which you funded your account, and only with the same bank account and/or name used to fund the account for your protection

How do I withdraw funds from my account?

• Funds can be withdrawn anytime without penalties or restrictions
• Log in with FXManager
• Click on target account in the top table, then select Account > Allocate Funds
• Select Deallocate, enter amount then click SUBMIT
• Repeat the step for second account
• Your deallocation requests appear in the Allocations table.
• HMNH Capital, LLC managers will likely accept your request within 24 hours

What happens once I place the funds into Oanda and give HMNH Capital, LLC limited power of attorney?
Limited power of attorney ONLY allows HMNH Capital to manage your FX account on your behalf, meaning we can only place trades for you. Your funds are under your control and can be accessed when you want.

Is there any chance that you consider reducing fee for larger account?
Yes.

Are your returns gross or net of fees?
The returns are gross of fees.

Can I withdraw my money and close my account any time I want?
Yes. This typically takes one to three days.

What exactly is a Limited Power of Attorney Document?
Limited Power of Attorney is a legally binding agreement for an agent to trade money allocated to that agent from your account. Power of Attorney does NOT transfer any kind of ownership of the account in any way. You can abort Power of Attorney agreement at any moment without any restrictions, requirements or explanations.

Does the trader have access to my money and why do I need to sign a Limited Power of Attorney (LPOA)?
No, the trader does not have access to your money and cannot transfer, deposit, or withdraw your funds except for the fees specified on the LPOA. Your account is set up directly with the brokerage who clears all transactions and handles all transfers, deposits, and withdrawals. It is necessary for you to sign a Limited Power of Attorney (LPOA) to authorize the brokerage to allow the trader to direct the trading of your account.

Will I be able to access my account?
Yes, you will be provided with read only access to your account either through an online report viewer or the trading platform. You can view the account, including balance and activities, but you will not be able to place any trades.

What are the strengths of your investment approach?
We believe our approach has three major strengths;

• Systematic alpha generation: using a series of proprietary algorithms that identify trades in both trending and non-trending markets. This has enabled performance to be maintained in different market conditions.
• Money management and foreign exchange experience: trades are generated by the system but are transacted by a portfolio manager in each of the time zones. This initiation of trades by a portfolio manager greatly eliminates event risk and allows for pro active position management.
• Risk management: we employ an extremely disciplined system whereby each trade is allocated an identical amount of risk capital.
• Risk assigned is a function of “ruin strategy” a methodology that proactively adjusts the risk capital based on how the model is performing on a risk adjusted basis.

What are the risks of your investment approach?
The model generates alpha by the opportunistic capture of statistical irregularities. The risk is that the system ceases to capture these irregularities.

All positions are closed intraday?
Yes. We don't hold overnight positions.

Maximum risk on single trade?
1% per global position.

What kind of instruments do you use to stay within the risk limits?
We stay within our risk limits using strict hedging techniques and portfolio VAR limits. We have not had a single breach of our risk limits in 700 trading days.

How do you differentiate your approach from other market participants?
We feel that we are differentiated by three things:

• Our foreign exchange and money management experience: the principals are career professionals with combined tenure of over fifty years all at major institutions at the highest level.
• Our risk management technique: being both simple and disciplined, it greatly reduces the volatility inherent in the approaches taken by other market participants.
• Our systematic alpha generator: this provides signals in both trending and non-trending markets.

Who is your closest competitor?
We feel that we are unique in combining alpha generation and risk management in this method.

Do you offer daily liquidity?
Yes.

Outline your philosophy on risk control.

• HMNH Capital, LLC bases it’s leverage and risk management on an approximation of return distributions based on Monte Carlo historical simulations. Every other characteristic is deduced from this.
• The rolling Sharpe Ratio for the previous 52 weeks is calculated.
• The strategies historical volatility of returns are calculated. Currently this is based on a 10% loss of capital to investors. An acceptable probability of “ruin” is assigned to the strategy. Currently this is at 5%. i.e the strategy is willing to accept a 5% probability of losing 10% of investors capital based on past risk/return parameters.
• Based on the strategies Sharpe Ratio a Monte Carlo simulation is run against a range of loss limits. Based on an acceptable probability of “ruin” of 5%, the percentage of the annualized volatility that corresponds to a 5% probability of “ruin” is then calculated. Leverage is then calculated based on the level of leverage that corresponds to the level of annualized volatility that equals a loss of 10% of capital employed.

Outline your philosophy on Portfolio VAR
Once the individual risk capital trade parameters have been set, the entire portfolio is subjected to a VAR test. HMNH Capital, LLC calculates risk using VAR generated by movements in the underlying spot by different Standard Deviation scenario's.


How do prevent yourself from trading errors?
Trades are set up and risk profiled trade by trade they are then entered in a blotter which is filed each day, the trades that are entered on the blotter include the risk parameters of the trade. A secondary trade blotter is also created with all the trades of the day, and this blotter is reconciled with the brokerage on a daily basis.

What makes this investment process competitive?
We believe the strategy is essentially a simple strategy, with a proven alpha generator, implemented by highly experienced foreign exchange professionals, using a disciplined risk management approach. It performs well in both trending and non trending markets which makes it competitive against its peers.

Describe the exact decision process when making a trade.
The strategy is mixed between systematic and discretionary approach. This style can adapt to all market conditions. Trade size and entry levels are determined using a combination of our risk management model and proprietary algorithms.

Prevention of style drift
Style drift is prevented by the nature of the process within the system.
Portfolios are monitored weekly to ensure an adherence to the strict trading guidelines.

Describe what kind of product structure you would suggest to offer for the institutional client in order to produce maximum investment security.
We believe that managed accounts are an appropriate structure because of the transparency and security of the investment.