First of all, many thanks to all of you who have supported us over the years and given us your trust.
In order to simplify the structure of the company and to further reduce costs, we decided to close the managing company, el mago asset management limited, in the Cayman Island.
At the same time we have set up a new company in Gibraltar: El Faro Management Limited!It takes over most of the tasks of el mago asset management.
By this step we have bundled the managing company, the bank and the administrator involved in the setup of el faro funds in Gibraltar.
We have also taken care to take precautionary measures to ensure that we can conduct the fund business independently of the outcome of the Brexit decision.
Sincerely
The el mago asse management team!
“ It’s not the strongest of the species that survives, nor the most intelligent. It is the one that is most adaptable to change. “ Charles Darwin