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Discover Latest #Investment fund News, Articles and Videos with Contenting
Investment funds are a type of pooled investment vehicle that allows investors to gain access to a diversified portfolio of assets with the potential to generate higher returns than those available from a single asset. Investment funds can range from mutual funds and exchange-traded funds (ETFs) to hedge funds and private equity funds. In this section, you will find news, articles and videos related to investment funds and how they can be used to help achieve financial goals.
Should You Buy This Top Cathie Wood Stock While It's Below $100?
The average investor can easily find new investment ideas by following well-known asset managers. One of those managers is Cathie Wood, who heads up Ark Invest, an investment fund that focuses on disruptive and innovative businesses. In the Ark Innovation ETF, the flagship product that the asset manager offers to clients, fintech enterprise Block (NYSE: SQ) is a top holding.
Japan fact of the day - Marginal REVOLUTION
The most dismal stockpickers in the cabinet included the minister for health, labour and welfare, the arm of government ultimately responsible for the $1.45tn Government Pension Investment Fund, the world’s largest pool of retirement savings. Here is more from the FT, via the excellent Samir Varma.
Former Allianz employee spared prison time over $7 billion funds collapse
A former Allianz fund manager was spared prison time on Friday over his role in a meltdown of private investment funds sparked by the COVID-19 pandemic that caused an estimated $7 billion of investor losses. Gregoire Tournant, 57, of Basalt, Colorado, pleaded guilty in June to two counts of investment adviser fraud. Chief Judge Laura Taylor Swain of the federal court in Manhattan sentenced him to 18 months home confinement and three years probation.
Pru Life UK launches new income fund - BusinessWorld Online
PRU LIFE Insurance Corp. of UK Philippines (Pru Life UK) has launched a fund that invests in global bonds and equities and offers potential monthly payouts. PRULink Flexi Income Fund invests in the ATRAM Global Multi Asset Income Feeder Fund, which invests in the JPMorgan Investment Fund-Global Income Fund of JPMorgan Asset Management. “The PRULink […]
Eurocastle Releases Third Quarter 2024 Interim Management Results - ForexTV
Contact: Oak Fund Services (Guernsey) LimitedCompany AdministratorAttn: Hannah CrockerTel: +44 1481 723450 Eurocastle Releases Third Quarter 2024 Interim Management Results Guernsey, 18 December 2024 – Eurocastle Investment Limited (Euronext Amsterdam: ECT) (“Eurocastle” or the “Company”) today has released its interim management statement for the quarter ended 30 September 2024. IFRS NAV of €21.37 million, or €21.34 per share (€21.59 million, or €21.56 per share as at Q2 2024).ADJUSTED NET ASSET VALUE (“NAV”)1 of €10.93 million, or €10.91 per share2 (€11.08 million, or €11.07 per share as at Q2 2024). Assuming the German tax authorities decide not to appeal the recent judgment in favour of Eurocastle on the German tax matter and consequently a full release of the connected reserve of €5.4 million, or €5.41 per share, the Adjusted NAV would be €16.32 per share. Q2 2024 NAV Q3 FV Movement Q3 2024 NAV Pro Forma Movements3 Q3 2024 Pro Forma NAV3 €’m€ p.s. €’m€ p.s. €’m€ p.s. €’m€ p.s. €’m€ p.s.New Investment Strategy - Greece 0.270.27 (0.16)(0.16) 0.110.11 5.235.22 5.345.33Legacy Italian Real Estate Funds 0.060.06 -- 0.060.06 -- 0.060.06Net Corporate Cash4 17.5317.51 (0.06)(0.06) 17.4717.45 (1.50)(1.50) 15.9715.95Legacy German Tax Asset 3.733.72 -- 3.733.72 (3.73)(3.72) --IFRS NAV 21.5921.56 (0.22)(0.22) 21.3721.34 -- 21.3721.34 Additional Reserves5 (10.51)(10.49) 0.070.06 (10.44)(10.43) 5.415.41 (5.03)(5.02) Adjusted NAV 11.0811.07 (0.15)(0.16) 10.9310.91 5.415.41 16.3416.32Ordinary shares outstanding 1,001,555 1,001,555 1,001,555 As at 30 September 2024, pro forma for the closing in October of the Company’s first investment under its New Investment Strategy and assuming no appeal is made by the German tax authorities in relation to the German tax matter, the Company’s assets comprise: €15.97 million, or €15.95 per share, of net corporate cash3 which is primarily available to fund new investments under the New Investment Strategy. €5.3 million, or €5.33 per share, in the Company’s first investment under the New Investment Strategy, a share in a Luxembourg fund which has acquired a boutique retail complex in an affluent part of Athens, Greece.Residual interests in two legacy Italian Real Estate Fund Investments with a NAV of €0.1 million, or €0.06 per share, where the underlying apartments are now all sold with both funds currently in liquidation. BUSINESS UPDATES New Investment Strategy – Eurocastle has now launched a Luxembourg regulated fund, European Properties Investment Fund S.C.A., SICAV RAIF (the “Fund”), to make opportunistic real estate investments across Southern Europe. The Fund completed its first close on August 6, 2024 for €10 million, with the Company committing €8 million alongside a €2 million commitment from its JV partner. The Fund is now being marketed to potential investors with a target fund size of €100 million. In addition to generating attractive risk adjusted returns on its share of any investments made by the Fund, Eurocastle also anticipates receiving a 60% share of fees and promote generated from external investors with the remaining 40% paid to the JV Partner. Such amounts include annual management fees representing 1.5% of the Fund’s net asset value and promote of 20% of the Fund’s total net profit (subject to a return hurdle of 8% per annum). The Company sees the Fund as an attractive opportunity to earn enhanced returns on the capital it invests while also building a meaningful base for future investments. In addition, the Fund made its first acquisition, being part of a boutique retail complex in an affluent part of Athens, in October 2024, with Eurocastle investing a total of €5.3 million into the Fund. The asset was acquired from one of the largest Greek banks out of a distressed situation. The Fund’s strategy is to lease-up the last 20% of the building which is currently vacant and then seek an exit in the open market. In parallel with executing this first investment, the Fund has been underwriting a number of additional opportunities. Legacy German Tax Matter – On 5 December 2024, Eurocastle won its appeal in the German courts against additional tax assessed in relation to a German property subsidiary for the period 2008 to 2012. The tax authorities now have a period to either appeal the judgment or issue revised tax assessments. The Company expects to be notified of their decision during the first quarter of 2025. The Company estimates its total exposure to the tax matter, which relates to the period 2008 – 2015, at up to €5.4 million of which the Company paid €3.7 million in respect of 2008 – 2012 while it sought reimbursement through the appeal made in the German courts. The remainder of the estimated exposure, associated with the same point under dispute, relates to the years 2013 – 2015 which remain subject to ongoing tax audits. Additional Reserves – During Q3 2024, the Company reduced these reserves from €10.5 million to €10.4 million, or €10.43 per share, with the reduction of €0.1 million reflecting reserves being utilised in line with anticipated costs. As at 30 September 2024, of the total Additional Reserves of €10.4 million, €5.4 million related to the legacy German tax matter with the balance of approximately €5.0 million in place to allow for future costs and potential liabilities while the Company establishes in parallel the New Investment Strategy. The Board anticipates reviewing the appropriate level of reserves once it has further clarity on the amount of commitments received by the Fund and the outcome on the Legacy German Tax Matter. Income Statement for the Quarter ended 30 September 2024 and the First Nine Months of 2024 (unaudited) Income Statement Income Statement Q3 20249 Months 2024 € Thousands€ ThousandsLegacy Real Estate Funds unrealised fair value movement - (18)New Investment Strategy adjustment linked to implementation costs(156)(156)Other income(5)12Interest income160482Total income (1)320 Operating Expenses Manager base and incentive fees2060Remaining operating expenses201631Total expenses221691 (Loss) for the period(222)(371)€ per share(0.22)(0.37) Balance Sheet and Adjusted NAV Reconciliation as at 30 September 2024 and as at 31 December 2023 30 September 2024Total € Thousands31 December 2023Total€ ThousandsAssets New Investment Strategy - Greece111118 Legacy German tax asset3,7273,727 Investments – Legacy Real Estate Funds6382 Other assets1792 Cash and cash equivalents17,72413,951 Treasury Investments-4,236Total assets21,64222,206Liabilities Trade and other payables253425 Manager base and incentive fees2041Total liabilities273466IFRS Net Asset Value21,36921,740Liquidation cash reserve(5,006)(5,185)Legacy German tax cash reserve(1,709)(1,728)Legacy German tax asset reserve(3,727)(3,727)Adjusted NAV10,92711,100Adjusted NAV (€ per Share)10.9111.12 NOTICE: This announcement contains inside information for the purposes of the Market Abuse Regulation 596/2014. ADDITIONAL INFORMATION For investment portfolio information, please refer to the Company’s most recent Financial Report, which is available on the Company’s website (www.eurocastleinv.com). Terms not otherwise defined in this announcement shall have the meaning given to them in the Circular. ABOUT EUROCASTLE Eurocastle Investment Limited (“Eurocastle” or the “Company”) is a publicly traded closed-ended investment company. On 8 July 2022, the Company announced the relaunch of its investment activity and is currently in the early stages of pursuing its new strategy by initially focusing on opportunistic real estate in Greece with a plan to expand across Southern Europe. For more information regarding Eurocastle Investment Limited and to be added to our email distribution list, please visit www.eurocastleinv.com. FORWARD LOOKING STATEMENTS This release contains statements that constitute forward-looking statements. Such forward-looking statements may relate to, among other things, future commitments to sell real estate and achievement of disposal targets, availability of investment and divestment opportunities, timing or certainty of completion of acquisitions and disposals, the operating performance of our investments and financing needs. Forward-looking statements are generally identifiable by use of forward-looking terminology such as “may”, “will”, “should”, “potential”, “intend”, “expect”, “endeavour”, “seek”, “anticipate”, “estimate”, “overestimate”, “underestimate”, “believe”, “could”, “project”, “predict”, "project", “continue”, “plan”, “forecast” or other similar words or expressions. Forward-looking statements are based on certain assumptions, discuss future expectations, describe future plans and strategies, contain projections of results of operations or of financial condition or state other forward-looking information. The Company’s ability to predict results or the actual effect of future plans or strategies is limited. Although the Company believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, its actual results and performance may differ materially from those set forth in the forward-looking statements. These forward-looking statements are subject to risks, uncertainties and other factors that may cause the Company’s actual results in future periods to differ materially from forecasted results or stated expectations including the risks regarding Eurocastle’s ability to declare dividends or achieve its targets regarding asset disposals or asset performance. 1 In light of the Realisation Plan announced in 2019, the Adjusted NAV as at 30 September 2024 reflects additional reserves for future costs and potential liabilities, which have not been accounted for under the IFRS NAV. No commitments for these future costs and potential liabilities existed as at 30 September 2024.2 Per share calculations for Eurocastle throughout this document are based on 1,001,555 shares, unless otherwise stated.3 Adjusts to reflect i) Eurocastle investing a further €5.2 million in October 2024 under the New Investment Strategy for the new Luxembourg fund to close on its first acquisition and ii) a reversal of the Additional Reserve related to the Legacy German Tax Matter in the event the tax authorities decide not to appeal the recent judgment by the German fiscal court, or the Company prevails on any such appeal.4 Reflects corporate cash net of accrued liabilities and other assets.5 Reserves that were put in place when the Company realised the majority of its investment assets in 2019 in order for the Company to continue in operation and fund its future costs and potential liabilities. These reserves are not accounted for under IFRS.
BPI Wealth launches new investment fund - BusinessWorld Online
BPI WEALTH, the wealth management arm of listed Bank of the Philippine Islands (BPI), has launched a fund that allows clients to invest in stocks, bonds or mutual funds and offers health and medical benefits. “BPI Wealth Builder is more than just an investment fund — it’s a comprehensive solution for securing your future. It […]
Phoenix Group Appoints Munaf Ali as New CEO to Drive Growth Amid Increasing Institutional Global Cryptocurrency Adoption - ForexTV
Phoenix Group exploring strategic dual listing opportunities including NASDAQ in 2025 with leading investment banksDubai, UAE, Dec. 20, 2024 (GLOBE NEWSWIRE) -- Phoenix Group, a pioneering cryptocurrency, blockchain, and Web 3 company and the first home-grown cryptocurrency firm to be listed on the Abu Dhabi Securities Exchange, announces the appointment of Munaf Ali as CEO. Currently serving as Group Managing Director and co-founder, Munaf brings a wealth of corporate institutional experience that positions him uniquely to capitalize on emerging opportunities in the rapidly evolving cryptocurrency landscape. Seyed Mohammad Alizadehfard (Bijan), the current CEO and co-founder, will step down to focus on expanding and managing his investment fund, Cypher Capital but will continue to be involved with Phoenix Group as a major shareholder and as a trusted key advisor to Phoenix. With over 20 years of capital markets experience from Citigroup, Munaf Ali’s extensive understanding of both traditional and digital finance will be instrumental as Phoenix Group explores new avenues for growth. His leadership will focus on cultivating strong relationships with institutional players to capitalize on the opportunities that lie ahead in the evolving cryptocurrency and blockchain landscape. Phoenix is already working with leading investment banks and crypto advisers on possible dual listing opportunities in favourable international jurisdictions for 2025. “I want to extend my deepest thanks to Bijan for being my co-founder and for his successful stewardship in guiding Phoenix Group from a private company to our listing on the ADX. We have worked together since we founded Phoenix and grown it into a listed billion-dollar company. Our strong relationship will continue, a CEO could not wish for a better advisor who will continue to bring opportunities to our door.” “Taking on the role of CEO at Phoenix Group represents an incredible opportunity to lead this forward-thinking company during a time of unprecedented growth,” continued Munaf. “My extensive experience and background in banking and finance equips me to navigate the complexities of our industry as the worlds of traditional and digital assets move closer together, allowing us to position Phoenix Group for success. Looking ahead, we are exploring dual listing opportunities including on NASDAQ in 2025 as we continue to build our global presence.” This leadership transition comes at a pivotal moment, building upon the remarkable achievements of the past year since Phoenix Group's listing, culminating in its recent sponsorship of Abu Dhabi Finance Week highlighting the crucial role Phoenix Group plays in integrating traditional finance with innovative digital assets. Seyed Mohammad Alizadehfard, the outgoing CEO and co-founder, will continue to play a vital role in the company as a valued advisor and shareholder. “While I transition from the CEO role, I am dedicated to supporting Munaf and the team as we embark on the next stage of Phoenix’s journey. My knowledge and expertise in cryptocurrency, combined with Munaf's institutional background, will ensure that Phoenix Group remains at the forefront of our industry both here in UAE and on the global stage” he stated. Phoenix Group is well-positioned for future growth, leveraging the strengths of both Munaf's corporate experience and Bijan’s deal-making acumen in the cryptocurrency space. Together, they will ensure that Phoenix Group continues to innovate and expand its global presence. About Phoenix Group:Phoenix Group, a multi-billion-dollar tech powerhouse headquartered in the UAE, leads the forefront of the blockchain, crypto, and tech revolution, driving innovation to new heights. In 2017, Bijan Alizadeh Fard and Munaf Ali laid the foundation for what would evolve into the Phoenix Group – a conglomerate comprising several thriving businesses. Beyond the web3 sphere, they offer comprehensive solutions, boast a 765MW mining operation, and fuel growth through strategic partnerships and innovation. Phoenix Group operates several mining facilities in the US, Canada, CIS, and the UAE, with each unique company operating in one of four distinct verticals: Mining, Hosting, Trading, and Investments. Phoenix Group PLC is the region's first privately owned crypto and blockchain conglomerate listed on the Abu Dhabi Securities Exchange. It also runs the largest mining farm in the MENA region. Phoenix Group aims to empower the digital era through efficient, innovative, and sustainable crypto-mining solutions, contributing to the evolution of a secure and transparent digital finance economy. Media contact: Yasmin Oronos - Luna PR yasmin.oronos@lunapr.io