Dear Investor,
Recently, while teaching FinTech Business Models and Strategy at Riga Business School, my students and I revisited the foundations of Modern Portfolio Theory – the work of Harry Markowitz, which earned him the Nobel Prize. The insight remains as powerful today as it was decades ago: a well-constructed portfolio is not about finding a single perfect asset, but about combining assets with different risk and return characteristics to achieve a better overall outcome. In other words, diversification is not just a good idea; it is mathematically optimal.
When I think about the future of investing – and TWINO’s role in it – this principle becomes a guiding light. Investors increasingly want a place where they can build balanced, personalized portfolios without needing to navigate ten platforms or become experts in every asset class. A one-stop shop for modern alternative investments is no longer a futuristic concept; it is an emerging necessity.
One of the core building blocks of such a portfolio could be stable, locked-return instruments like business-loan-backed ABS. They provide predictable cash flows, strong collateral structures, and a compelling risk-adjusted return. For many of our clients, these instruments have long served as the backbone of their portfolio – and we are committed to expanding this category with even greater transparency and quality.
But a modern portfolio requires more than one anchor. It needs additional asset-backed structures, for example a bond-backed ABS for which we got very positive interest in recent Telegram survey.
That would introduce different drivers of risk and duration. These assets behave differently across economic cycles, enhancing the overall shape of the portfolio and bringing it closer to the efficient frontier that Markowitz envisioned.
Next, every portfolio benefits from a liquid, higher-than-deposit instrument where investors can park short-term capital while earning meaningful returns. Liquidity is often undervalued, yet it is essential for flexibility, discipline, and the ability to seize opportunities when they arise. A modern alternative investment platform should make this effortless.
And finally, a thoughtfully calibrated slice of more volatile assets such as crypto-assets can play a constructive role. With long-term dollar-cost averaging, volatility becomes less of a threat and more of a return engine. Even a small allocation can meaningfully reshape a portfolio’s long-term potential, especially when handled in a regulated, secure environment.
This is, of course, only one of many ways to design a modern alternative portfolio. But the idea itself — the ability to build such a structure from a single platform, seamlessly combining stability, liquidity, and innovation — is where I see tremendous potential. And wouldn’t it be nice for investors to have such an opportunity at their fingertips?
Latest on TWINO:
We have rolled out the new TWINO design and were happy to receive both very positive feedback and well-deserved constructive criticism. This dialogue with our community is invaluable- it helps us continuously improve the platform experience in ways that matter most to you. We are committed to implementing the received feedback over the coming weeks and months. It’s a never-ending journey of refinement, and one we gladly embrace.
Latest on Rentals:
We are close to finalizing the sale of one of the Rentals apartments, scheduled to close in Q4. After closing, funds will go through the settlement and transfer process before we can distribute principal and returns. Although this phase takes a bit of time, it represents the home stretch- and we’re happy to finally see this product approaching its conclusion for some of our investors.
Latest on Recoveries: Russia, Vietnam & Philippines:
There are no changes to the repayment terms of our Russian claims. In Vietnam, we continue to move forward with the legal process to gain more clarity, though progress remains slow. Regarding the Philippines, we are still actively working on a potential deal and hope to share more concrete updates in the coming weeks.
Latest in Poland:
The business is performing strongly, and we can already see that this is shaping up to be one of the best years in Netcredit’s history. The number of active card users has grown to nearly 58,000, and credit line issuance continues to increase steadily — a clear signal of healthy demand and solid operational execution.
As we approach the holiday season, this time of the year is often associated with slowing down, but at TWINO we’re committed to still push forward. It’s the perfect moment to line up the final tasks of the year and take a challenge to deliver them. I’m quite hopeful that we will be able to deliver some “Christmas presents” to our investors.
Thank you for your continued trust and partnership.
