Twelve Capital Event Update – 9. November 2020

9. November 2020

Hurricane situation 
Tropical storm Eta is currently over the Florida Keys, moving in a westerly direction out into the Gulf of Mexico. There are tropical storm force winds impacting Miami and southern Florida, but with limited damage so far. Eta’s path has been erratic and will continue to be so: after moving into the Gulf, it is projected to take a sharp turn and head north where it is likely to make landfall somewhere on the north-west coast of Florida towards the end of the week as a tropical storm. Based on current projections, Twelve Capital does not believe there will be an impact to any of the Twelve Capital’s funds.

Other events 
Tropical Depression Vamco is a fast moving system that is currently situated 900km from the east coast of the Philippines. It is projected to make landfall near Manila as a category 3 typhoon within the next two to three days. Given that Super Typhoon Goni impacted this area of the Philippines recently, Twelve Capital will be monitoring the situation closely over the coming days.