Fumbi Product Portfolio Update – September 2023

Another three months have passed and our experts at Fumbi have carried out a regular review and update of all our products to ensure that we always bring you only the best from the cryptocurrency market. Quarterly updates have been an important part of managing our products and portfolios for several years now. They must comply with strict selection criteria and meet all the necessary standards.

On August 17, 2023, Fumbi’s Investment Committee met to discuss and review the current situation in the cryptocurrency market and make important decisions regarding product updates in the current market conditions. It is very important for us to optimise the return-risk profile of our products and to continuously add new improvements and new cryptocurrencies to the satisfaction of our customers.

After much discussion and review of all factors affecting current market conditions, the committee has reached a consensus regarding the regular update. Thus, the September update brought several systemic changes as well as several new assets that will help investors on the path to achieving their investment goals.

System changes

1. We are expanding the maximum number of portfolios in the Advanced Portfolios product from 5 to 10
   • Now you will be able to build up to 10 portfolios in the Advanced Portfolios product, exactly according to your preferences and taste.
     
     
2. We are expanding the market capitalisation criteria for the Advanced Portfolios product from the TOP 100 to the TOP 200
   • By expanding the market cap specifically for the Advanced Portfolios product, we will be able to bring you more new and more exotic assets to add to your own portfolios.

Fumbi Index Portfolio

The basis of our quarterly updates is a modification of our flagship product called the Fumbi Index Portfolio, which is still the most popular product among investors. Fumbi Index Portfolio is popular among investors for its simplicity and efficiency as it tracks the market itself. As part of the September update, we have decided to remove one cryptocurrency from the portfolio that does not currently meet our strict criteria.

Removed asset:

• Elrond – We have decided to delist the MultiversX (EGLD) cryptocurrency from the Fumbi Index Portfolio because it does not currently meet one of our formal criteria for placement in the top 50 cryptocurrencies in terms of market capitalisation. MultiversX is currently ranked 53rd. However, MultiversX remains part of the Advanced Portfolios product where you can add this asset to your own portfolio.

Advanced Portfolios

In addition to the system changes, the Advanced Portfolios product will also be affected by changes related to the addition of new assets to this product. As part of the update, we have added seven new assets that you will be able to add to your own investment portfolios.

Added assets include:

• Stacks (STX) – Stacks is a layer-two (L2) blockchain built on top of Bitcoin that brings smart contracts and decentralised applications to Bitcoin. Its uniqueness lies in the fact that it allows developers to create decentralised applications (dApps) directly on the Bitcoin blockchain network. Stacks seeks to provide a link between the security of the Bitcoin network and the innovation potential of decentralised applications.
  
  
• Flare (FLR) – Flare is an EVM-based blockchain protocol that enables the use of smart contracts on networks that do not support smart contracts by default. Its main goal is to enable interaction between different blockchains and thus increase the collaboration and functionality of the blockchain ecosystem.
  

• Worldcoin (WLD) – Worldcoin is a cryptocurrency that seeks to create a universal and inclusive payment system. Its innovative feature is the ability to authenticate users using eye-scanning technology, allowing for quick and easy identification. Worldcoin aims to provide financial access and options to everyone, including those who do not have access to traditional banking services.
  

• Fetch.ai (FET) – Fetch.ai is a cryptocurrency that specialises in artificial intelligence and machine learning on the blockchain. Its main goal is to enable autonomous interaction between different digital entities, which includes, for example, IoT (Internet of Things) devices.
  

• SingularityNET (AGIX) – SingularityNET is a cryptocurrency created on the Ethereum network that specialises in artificial intelligence and decentralised access to AI services. Its main goal is to create an open marketplace for various AI technologies and enable collaboration and communication between different AI entities on a single platform.
  

• Solana (SOL) – Solana is a well-known first-layer blockchain that focuses on high transaction speed and scalability. Its innovative Proof of History (PoH) technology combined with strong consensus enables high transaction volumes at low fees and with minimal time required to confirm transactions.
  

• Compound Finance (COMP) – Compound is a decentralised application built on the Ethereum blockchain that allows users to borrow cryptocurrencies without traditional financial intermediaries. Smart contracts on this platform automatically determine interest rates on loans based on current supply and demand.
  

These cryptocurrencies were selected based on their potential and growing popularity in the cryptocurrency sector. We are confident that these new cryptocurrencies will allow you to further customise your investment strategies and achieve your financial goals.

It is important to highlight that the templates within the Advanced Portfolios product will not change during this update. If you can’t decide what to invest in, you can choose one of our pre-made templates that are carefully curated by our team of experts.

What Are Our Selection Criteria for Cryptocurrencies?

At Fumbi, we follow strict rules for selecting the cryptocurrencies that make it into our portfolio. In addition to formal criteria related to liquidity, market capitalisation or custodial capability, assets must have strong fundamentals within three categories that we identify as the key categories in the market: payment systems, decentralised finance and Web3.

You can read more about our portfolio selection in this article.