All posts by root

International Payments: Remittances From Migrants
Corporate Finance and M&A/DealsFinance

International Payments: Remittances From Migrants

Migrants’ International Payments May Mean Developing Countries Are Better Markets than they Appear

The last three decades have seen a large increase in the number of people living and working outside their countries of origin. The World Bank estimates that between 1990 and 2015, the number of migrants worldwide rose from 152 million to 250 million, and now make up about 3.4 percent of the global population. Many migrants send money back via international payments methods to families and friends in their countries of origin – in amounts substantial enough to turn some developing countries into better markets for international businesses than they may at first appear.

As the proportion of migrants in the world population has grown, the dollar value of these international payments, known as “remittances,” has also risen. In April 2016, a World Bank report forecasted that 2016 migrant remittance payments would total $603 billion, of which $431 billion would go to developing countries. These estimates are for remittances made using official international payment methods – the report suggested that unrecorded/unofficial payments could be much larger.

Remittances Drive Substantial International Payments

By far the largest source of remittance payments is the United States: in 2015, international payments worth over $133.5 billion were made by migrants working in the U.S. Of this, nearly $24 billion went to Mexico, $16.25 billion went to China, and nearly $11 billion to India. Other developed countries also remit funds, though on a smaller scale. In 2015, migrants in the United Kingdom sent global payments totaling nearly $25 billion back to their families; the largest recipients were Nigeria ($3.7 billion) and India ($3.6 billion). Migrants in Australia also remitted over $16.5 billion, much of it to China and India.

Remittances thus represent a substantial transfer of funds from the developed world to developing countries, significantly exceeding official development aid. In 2015, India was the largest remittance-receiving country with an estimated $69 billion, followed by China ($64 billion), and the Philippines ($28 billion). But although remittances to China and India are large in money terms, they are not large in relation to the size of their economies. In contrast, remittances make up over 25 percent of GDP for some smaller developing countries: in 2014, over 40 percent of the economy of the central Asian republic of Tajikistan relied on international payments from migrants.

International Payments by Migrants are Important Drivers of International Trade

These large inflows to developing countries create opportunities for international businesses. Families with access to funds from overseas may purchase more imported goods and services: for example, in 2014 remittances financed around 25 percent of imports in Nigeria and about 20 percent in Senegal. Remittances also support the development of local businesses, creating opportunities for international B2B sales. In Vietnam, for example, money sent by overseas Vietnamese has boosted local businesses and real estate markets: the World Bank says “about 70 percent of remittance inflows to Ho Chi Minh City (HCM) went into production and business, and some 22 percent to the real estate sector.” In Vietnam, also, the central bank uses remittance income to stabilize the banking sector, which helps to encourage trade finance for export and import businesses.

For many developing countries, remittances are an important source of foreign currency, enabling them to build up FX reserves. Strong FX reserve buffers reassure international businesses that their local business partners will be able to obtain the foreign currency needed to meet their obligations. Strong FX reserve buffers also encourage the development of local branches, subsidiaries and franchises, since businesses can be confident that the profits earned from local business can be repatriated when needed.

Risks to International Migration and Remittance Flows

There is a popular view in many developed countries that migrants are a burden, draining money from the country while making demands on services such as healthcare and competing with native-born workers for jobs. But the full picture is more complex. Many international businesses rely on migrant workers, both skilled and unskilled, to enable them to deliver value for money to their customers. Migrants pay taxes and contribute to the local economy where they live and work.

Research by the Organization for Economic Cooperation and Development (OECD), the World Bank and the International Labor Organization shows that overall, migrants contribute more to the economies of their host countries than they take out.

However, the international payments landscape may be growing more challenging for countries that rely on remittances. This is for two reasons. Firstly, banks under pressure to comply with tighter anti-money laundering (AML) legislation in developed countries are closing the accounts of international payment solutions providers in developing countries. The Consultative Group to Assist the Poor (CGAP) observes that in some countries in the Pacific area, these account closures potentially deprive people in rural areas of access to funds, which could cause severe economic problems. In 2016, Australia’s four big banks exited from the country’s remittance business, raising concerns that unregulated money transfer providers would spring up to serve migrant needs, making AML control more difficult.

Secondly, exchange rate movements affect the value of international payments. In the last two years, the strong dollar has benefited recipients of funds from the U.S., but adversely affected countries receiving remittances in euros or sterling. The oil price also affects migration patterns in oil-producing countries: migration from Commonwealth of Independent States (CIS) countries to Russia, for example, has declined in the last two years due to the ruble’s weakness and Russia’s recession. Falling migration inevitably reduces remittance flows. The World Bank identifies the prospect of the oil price remaining low as a key risk to the growth of remittances in 2016-17.

For many migrant workers, being able to make international payments to friends and family in their countries of origin is a key driver of their decision to work overseas. Businesses looking to attract migrant workers may wish to consider ways of mitigating adverse developments in the international payments landscape, for example by partnering with a trusted international payment solutions provider to help workers make international payments and manage their FX risk effectively.

The Takeaway

Historically, remittances via international payment solutions have provided a strong, stable flow of income for many countries, which can offer rich opportunities for international businesses. However, tighter regulation of banks and adverse exchange rate movements also threaten remittance flows for some countries.

The Author

With 17 years experience in the financial industry, Frances is a highly regarded writer and speaker on banking, finance and economics. She writes regularly for the Financial Times, Forbes and a range of financial industry publications. Her writing has featured in The Economist, the New York Times and the Wall Street Journal. She is a frequent commentator on TV, radio and online news media including the BBC and RT TV.

Press releases

The 2017 Fund Awards Press Release

The success of the international fund industry can be seen as an indicator of global economic recovery, and as the world is still slowly improving following the recent economic crisis, the fund industry is increasingly having to innovate and adapt in order to grow and thrive.

The 2017 Fund Awards is looking to reward and recognise the forward thinking and intuitive professionals from around the world who have worked tirelessly over the last twelve months to provide their investors with strong returns and reduced exposure to volatility.

Rachel Davenport, Awards Coordinator commented: “I am truly proud of the hard work and commitment of every single one of my deserving winners, and would like to offer them my congratulations and best wishes for the future.”

To learn more about our deserving award winners and to gain insight into the working practices of the “best of the best”, please visit the Wealth & Finance website (http://www.wealthandfinance-news.com/) where you can access the winners supplement.

ENDS

Notes to editors.

About Wealth & Finance International

Wealth & Finance International is a monthly publication dedicated to delivering high quality informative and up-to-the-minute global business content. It is published by AI Global Media Ltd, a publishing house that has reinvigorated corporate finance news and reporting.

Developed by a highly skilled team of writers, editors, business insiders and regional industry experts, Wealth & Finance International reports from every corner of the globe to give readers the inside track on the need-to-know news and issues affecting banking, finance, regulation, risk and wealth management in their region.

Press releases

The 2017 Wealth & Money Management Awards Press Release

United Kingdom, 2017– Wealth & Finance magazine have announced the winners of the 2017 Wealth & Money Management Awards.

Finance management can be a daunting and complicated task, and therefore many individuals, business people and families look to advisors to support and guide them through the complex process of managing their money.

The 2017 Wealth & Money Management Awards are dedicated to rewarding and recognising the hard work and dedication of everyone working in this vast industry, from including asset managers, financial planners, HNWI services and specialist banking providers.

Steve Simpson, Awards Coordinator, commented: “From ensuring all relevant fees and taxes are paid to supporting clients through monumental life changes, those working in the wealth management industry often become much more than just advisors, developing strong relationships with clients and supporting them through thick and thin. As such it is my honour to be able to showcase the very best from across this vital market, and I would like to wish each of my winners the very best of luck going forward.”

To learn more about our deserving award winners and to gain insight into the working practices of the “best of the best”, please visit the Wealth & Finance website (http://www.wealthandfinance-news.com/) where you can access the winners supplement.

ENDS

Notes to editors.

About Wealth & Finance International

Wealth & Finance International is a monthly publication dedicated to delivering high quality informative and up-to-the-minute global business content. It is published by AI Global Media Ltd, a publishing house that has reinvigorated corporate finance news and reporting.

Developed by a highly skilled team of writers, editors, business insiders and regional industry experts, Wealth & Finance International reports from every corner of the globe to give readers the inside track on the need-to-know news and issues affecting banking, finance, regulation, risk and wealth management in their region.

Wealth & Finance July 2017
Issues

Wealth & Finance July 2017

Click below to read this months issue

Wealth & Finance Magazine Wealth and Finance Wealth & finance banking finance funds markets regulation risk management tax wealth management market trends stock trends stock market trends wealth management magazine wealth magazine finance magazine

Welcome to this truly captivating July edition of Wealth & Finance International magazine.

In this issue, we discover more about C-QUADRART – the international asset manager which was established in 1991 in Vienna by Alexander Schütz and Thomas Riess. The C-QUADRAT team has made a name for itself internationally with its investment fund analysis and management activities.

Elsewhere in this issue, on 24th July the Board of LXi REIT plc announced that it has exchanged contracts to provide forward funding for the development of a new Travelodge hotel, drive-through Costa coffee shop and drive-through KFC restaurant in Camborne, Cornwall.

Finally, we learn more about how for almost 30 years, Adam Phones have been creating award-winning mobile and fixed line connectivity solutions for some of the most demanding clients and businesses in the world.

We hope you thoroughly enjoy reading this issue.

Wealth & Finance June 2017
Issues

Wealth & Finance June 2017

Click below to read this months issue

Wealth & Finance Magazine Wealth and Finance Wealth & finance banking finance funds markets regulation risk management tax wealth management market trends stock trends stock market trends wealth management magazine wealth magazine finance magazine

Welcome to the June edition of Wealth & Finance Magazine.

Established in 2000, the Laser Treatment Clinic is a multi-award winning laser skin care clinic. Zaheda Hafez has over 17 years of clinical practice experience under her belt, the Laser Treatment Clinic has produced excellent results and has quickly become the go-to skin clinic in London for many high-profile figures.

Investing in interesting opportunities, generally through hedge funds, on behalf of its clients is innovative fund manager, Pluscios. At Pluscios, they are constantly looking for interesting investment opportunities, whether it is an off the radar niche opportunities or front page complex opportunities.

Elsewhere, we took the opportunity to profile AON Underwriting Managers (AUM, providers of specialist underwriting and claims expertise. AUM also focuses on commercial insurance products across Accident and Health, Property and Casualty, Financial Lines and Marine sectors.

I hope you enjoy reading this truly captivating edition.

A Passion for Real Estate and Architecture
Corporate Finance and M&A/DealsFinance

A Passion for Real Estate and Architecture

Directors Fernando Levy Hara and Stephan Gietl realised their shared passion for real estate and architecture, while attending the Advanced Management Development Program in Real Estate (AMDP) at Harvard University Graduate School of Design. AMDP is exclusively for entrepreneurs and senior-level professionals, with minimum 15 years of real estate-related experience. Both Levy Hara and Gietl are in the meantime, highly sought after speakers at Harvard University, especially on real estate cycles.

Levy Hara and Gietl have specialised during the downturn of the economy in the years 2009 and 2010 in acquiring distressed assets, amongst them notes, fractured condominiums and land. Both developed residential and commercial projects in South Florida, Europe and Latin America, including the successful waterfront condominiums Regatta and Bay View Lofts in Miami Beach.
Since its inception, McKafka Development Group has acquired notes, properties and development sites exceeding $100 million in value and has sold more than 500 units mostly to international investors. With its latest condominium development, The Crimson, McKafka Development Group will certainly leave an imprint on Miami’s skyline.

McKafka Development Group was excited to announce its latest development addition, a 282-multifamily project in Sarasota, Florida. With this development, McKafka Development Group is evidencing once more its right timing for the market.

Stephan Gietl serves as the Chief Finance Officer and Chief Operating Officer of the company. Originally from Austria, he was responsible for the completion of a mix-used project called Palladium in Downtown Prague, with more than one million square feet of shopping centre, office and parking space. Stephan is instructor of executive education at Harvard and member of Harvard’s Board of Real Estate Academic Initiative.

Development services

Our development service division has a very strong capability to evaluate a project’s feasibility, from a 360-degree perspective, which makes Mckafka a first-choice developer.
The team’s sophisticated skills span our services – from distressed asset acquisition to overall development services – including key turn projects. Our dedication to every detail in the whole development chain puts Mckafka at the forefront delivering outstanding project results. Implementation of our self-developed cost and project management tools further enhances governance and goal compliance of any development project we work on.

Property management

Mckafka Property Management specialises in providing a full range of residential property management services to such owners, especially international investors. Our portfolio comprises hundreds of condominium units in Fort Lauderdale and Miami, Florida. With our fully integrated online management tool, our investors receive a full picture of their investment at their fingertips, from any mobile device. Our ability and experience in residential property management allows McKafka Property Management, LLC to serve and provide personal attention to our clients.
Realty services Helping to maximise the return of your investment, McKafka Realty’s team emphasis lies in minimising any vacancy of your property, as well as maximising your income. With our in-depth market knowledge, we assist you in generating outstanding rental and sales income.

The Crimson case

study One of our firm’s projects, The Crimson will offer buyers and investors a cost effective residential experience with ultra luxury amenities. Located at NE 27th and Biscayne Blvd, this LEED Silver project will feature 1, 2 and 3-bedroom residences, penthouses and town homes. The Crimson units range from approximately 780-1600 square feet, spanning nine different floor plans, plus there is ample storage and parking available. The building also offers six penthouses, equipped with an outdoor terrace and private hot tub.

Multifaceted
BankingTransactional and Investment Banking

Multifaceted, Passionate and Professional

Multifaceted, Passionate and Professional

Judy Joost is a multifaceted, passionate marketing and communications professional with 8+ years of experience. She is an ambitious, result-oriented, creative individual with the motivation to succeed at any level or industry while continuing to feed her desire to learn.

Judy Joost is known for being a well-organized, detailed-orientated self-starter. She promotes a positive team attitude and has the ability to balance competing demands to meet deadlines in a fast-paced environment.
Her areas of expertise are:

• Marketing;
• Corporate communications;
• Project management and;
• Client/customer service

Judy’s specialties include: event planning/execution; trade show management; internal/external communications; social media management; direct mail campaigns; e-mail Marketing; data analytics; content development; brand standards; collateral materials; create/execute high-level marketing plans; executive level PowerPoint presentations; web content management plus writing and editing.

She has used the following software: Adobe Creative Suites: InDesign, Photoshop and Illustrator; MS Office; Abila (Avectra) CRM; Joomla CMS; SharePoint; WordPress; iContact; Salesforce and Eloqua – Marketing Automation Tool.
Judy’s Certification in Digital Marketing Fundamentals from the University of Vermont covers: Search Engine Optimization (SEO); paid search; email marketing; display advertising; social media; mobile marketing and analytics. Judy is currently living and working in New York City.

Additionally, Judy has managed the BT presence at the National Retail Federation conference including a customer reception taking place on the last night. She has generated 100+ new leads, created over $62m in pipeline and gained press coverage from around the globe (United States to Asia).

Judy’s responsibilities include:

– Execute marketing activities in the Americas.
– Working closely with the Americas based global banking and financial markets and retail and consumer package goods sales teams in the execution of day-to-day, short and long-term sales and marketing strategies across both verticals.
– Liaising and collaborating with the Americas marketing team on shared projects and campaigns providing GB&FM/Retail perspective.
– Leading account based workshops in terms of content, sales enablement and follow up.
– Developing specific campaigns with a digital first mindset.
– Managing relationships with key stakeholders up to and including GB&FM/Retail Americas’ executive leadership and external partners.
– Working closely with the central digital marketing team out of the U.K. to promote the company’s increased use of social and digital media as well as managing the relationship with third-party public relations and media agencies both in the Americas and globally.

Company: BT
Name: Judy Joost, Marketing Manager Global Services
Email: [email protected]
Web Address: home.bt.com
Address: 620 8th Avenue, 46th Floor, New York, New York 10018
Telephone: +1 212 205 1935

 

Sustainability Gives UC David Strength for the Future
Derivatives and Structured ProductsMarkets

Sustainability Gives UC David Strength for the Future

Sustainability Gives UC David Strength for the Future

UC Davis is the top of the agricultural research charts yet again, so we looked into their beginnings and how they got to where they are today.

UC Davis is the home of the Aggies — go-getters, change makers and problem solvers who make their mark at one of the top public universities in the United States. 

Since they were founded in 1905, they have been recognized for standout academics, sustainability and pride, as well as valuing the Northern California lifestyle. These themes are woven into their 100-plus-year history and their reputation for solving problems related to food, health, the environment and society.

the 5,300-acre campus is in the city of Davis, a vibrant college town of about 68,000 located in Yolo County. The state capital is 20 minutes away, and world-class destinations such as the San Francisco Bay Area, Lake Tahoe and the Napa Valley are within a two-hour drive.

29 percent of food bought for the dining commons is sustainably grown. The university’s own invention, the bio digester, has a daily capacity to turn 50 tons of waste into energy for the campus. The Tercero Phase 3 student housing project received the highest possible rating of platinum from the U.S. Green Building Council and the West Village community is designed to generate all the energy the community needs, mostly through solar power.

UC Davis is highly ranked in the nation and the world, by influential university ranking publications like U.S. News & World Report (national and global), QS World University Rankings, the Times Higher Education World University Rankings and The Princeton Review. The Wall Street Journal has recognized UC Davis as the sixth-best public university in the United States in its 2016 inaugural Wall Street Journal/Times Higher Education College Ranking.

UC Davis opened in 1908 as the University Farm, the research and science-based instruction extension of UC Berkeley. As the century evolved, their mission expanded beyond agriculture to match a larger understanding of how research efforts could benefit the public. By 1959, UC Davis had grown into a general campus with its own personality and strengths.

Over the years, as the geographical footprint developed, each new UC Davis presence — in Tahoe, Sacramento, Bodega Bay, Tulare, San Diego, Madrid and China, among others — has strengthened their ability to serve the public through research, academics and public service. Even before the first buildings were finished — and more than a year before the first students would arrive — the University Farm began laying the groundwork for its first research projects.

UC scientists dug experimental irrigation ditches and planted varieties of wheat, oats, barley and tomatoes. Soon to follow would be test crops of sugar beets, legumes and an array of fruit and almond trees. It began with just a few shovels of dirt and ordinary seeds (though some new wheat varieties came from Russia). Yet, even with those uncere monious beginnings, the University Farm turned its attention — and scientific methods — to addressing a pressing agricultural problem with profound economic, environmental and social implications for the state.

A wheat boom of the late 1800s — “California’s second gold rush,” as David Vaught, Ph.D. ’97, an associate professor of history at Texas A&M University, calls it — had gone bust. California had been one of the nation’s leading wheat producers in the 1870s and 1880s, and dryland wheat farming made some growers wealthy. But by the turn of the century, prices had dropped so low that farmers lost money and began replanting their wheat fields with fruits, vegetables, nuts and other crops.
“Wheat is a crop that rapidly destroys the fertility of the soil, and much of the land in the Central Valley had produced so many crops of wheat by the 1890s that the soil was exhausted,” said Donald Pisani, Ph.D. ’75, Merrick Chair of Western American History at the University of Oklahoma.

“Virgin soil that produced as much as 50 bushels an acre in the 1870s produced 10 or 15 bushels after a decade or so.”

Once a major wheat exporter, California had become a net importer, and in 1905, the state Legislature passed a bill giving UC $10,000 over two years for research to improve production of wheat and other cereal crops.

At the University Farm, UC researchers worked in collaboration with the U.S. Department of Agriculture in testing not only new varieties and best cultivation methods, but also ways to restore worn-out soil.

A 1911 report that grew out of the cereal research, “How to Increase the Yield of Wheat in California” by UC agronomist G.W. Shaw, documented the benefits of rotating crops and the use of “green manure” or cover crops, such as peas, rye and vetch, to restore humus, fix nitrogen and improve the moisture content of the soil.

Other research, also done in cooperation with the USDA, evaluated different lining materials for irrigation ditches to reduce seepage and conserve water.

The university continues to carry out important agricultural research and find new ways to make the U.S. food and living conditions more sustainable for future generations.


Company: UC Davis Medical Center
Name: Ramin Manshadi
Email: [email protected]
Web Address: www.ucdavis.edu
Address: 2633 Pacific Avenue, Stockton, CA 95204, USA
Telephone: 209-944-5530

Press releases

The 2017 Alternative Investment Awards Press Release

United Kingdom, May 2017– Wealth & Finance magazine have announced the winners of the 2017 Alternative Investment Awards.

Previously an undervalued industry, the alternative investment has grown immensely over the past few years. Behind the ever-growing success are the leading lights whose innovation, dedication and inventive ways has seen them accomplish some remarkable results.

Now in its fourth year, the 2017 Alternative Investment Awards casts a light on the individuals, firms and departments from across all sectors that have played a part in shaping this dynamic and imitable industry.

Commenting on the program Awards Coordinator Peter Rujgev said: “From multinational companies to individual investors, these awards showcase the talent and commitment of everyone working within this industry, investing in everything from collectable items, fine art and wines through to property and precious metals, whose hard work and professionalism is changing the financial landscape for the better. I would just like to congratulate all of my deserving winners and I hope to hear about their upcoming endeavours moving forward.”

To learn more about our deserving award winners and to gain insight into the working practices of the “best of the best”, please visit the Wealth & Finance website (http://www.wealthandfinance-intl.com) where you can access the winners supplement.

ENDS

Notes to editors.

About Wealth & Finance International

Wealth & Finance International is a monthly publication dedicated to delivering high quality informative and up-to-the-minute global business content. It is published by AI Global Media Ltd, a publishing house that has reinvigorated corporate finance news and reporting.

Developed by a highly skilled team of writers, editors, business insiders and regional industry experts, Wealth & Finance International reports from every corner of the globe to give readers the inside track on the need-to-know news and issues affecting banking, finance, regulation, risk and wealth management in their region.

Wealth & Finance May 2017
Issues

Wealth & Finance May 2017

Click below to read this months issue

Wealth & Finance Magazine Wealth and Finance Wealth & finance banking finance funds markets regulation risk management tax wealth management market trends stock trends stock market trends wealth management magazine wealth magazine finance magazine

Welcome to the May 2017 edition of Wealth & Finance International magazine.

In recent news, Anthony Rayner, manager of Miton’s multi-asset fund range underlined recently that textbook portfolio construction theory suggests that long-dated bonds, particularly sovereign bonds from the large developed economies, are the archetypal haven and diversifier of equity risk.

In terms of deals, Deutsche Bank on 24th May signed an Accreditation Master Agreement (AMA) with the Green Climate Fund (GCF), enabling the bank to receive and use GCF capital and raise further funds from private sector investors to support action on climate change.

I hope you enjoy reading the news and many special features that this edition offers.

Jonathan Miles, Editor

Digital Odyssey
Derivatives and Structured ProductsMarkets

Digital Odyssey

Odyssey New Media is a digital marketing agency, based in Birmingham. Set up by Robert Stoubos in 2010, the firm has enjoyed success and has several high profile clients.

Established in Birmingham in 2010, Odyssey New Media is a leading digital marketing agency. With more than 10 years’ worth of experience, the firm knows how to tailor strategies which utilise the best digital marketing and media channels to help businesses develop, grow and succeed.

Odyssey New Media provides a full range of services to help businesses increase their revenue and achieve good return on their marketing spend, including:

• SEO (Search Engine Optimisation) – gaining higher search natural search positions for keywords that convert into enquiries and sales. These positions are those below paid ads and therefore once achieved you don’t pay to continue to rank. Continued SEO maintenance is required to maintain positions.

• PPC, Paid Search and Placement Advertising – ensuring companies’ key messages are in front of the right audience at the right time.

• Social Media Management, Training & Optimisation – to integrate on and offline communications across different social networks to engage with all stakeholders.

• Conversion Enhancement Services

• Website Design & Website Development –helping businesses project manage and build websites with SEO and social features in mind.

• Mobile Website Design & Mobile Applications – Mobile search and usage is increasing. It’s therefore important to ensure websites have a mobile friendly version for mobile users as well as taking advantage of mobile applications which can help target and increase brand awareness in the ready-made market places for mobile apps.

Robert Stoubos is the owner and managing director of Odyssey New Media. Graduating from Aston University in June 2005 with a degree in Computer Science, he founded the company just five years later. He tells us more about his experience. “With more than 10 years’ experience in digital marketing I have become a results-driven marketer with the skills required to successfully implement cross-channel digital marketing campaigns that generate increased brand awareness, sales and ROI.”

Case Studies The firm has had great success so far to date, and we take a look at some of its most recent case studies.

Aura Natural Health Aura Natural Health specialises in health products that contain only natural ingredients.

The team at Odyssey New Media was tasked with conceptualising, designing and creating a logo that represented the use of ‘only natural products’ in the ingredients. The customer wanted elegant yet bold, decorative yet not too loud.

The designs were to be used on packaging products and around social media platforms.
“Neil designed my first product label so beautifully and it was exactly what I was looking for. He listened to what I wanted and replied to my requests quickly and accurately. I always come back to Neil at Odyssey now for all of my other product labels and I am hoping to use their web design services too in the very near future,” explained Aura Lakshmi of Aura Natural Health.

RPA UK Based in a railway arch in the West Midlands; RPA Ltd was formed by its director, Robert “Seth” Wilson, after he left the Royal Navy in 2011. Since formation the company has been involved in a multitude of projects, providing Radioactive Waste Management and Radiation Protection services to clients.

Odyssey New Media and the team were responsible for a complete website build, banners and creating a CMS system for the company.

“Tip-Top service guys, got a great website for the best price in town … can’t grumble at all!” states Robert Wilson, director of RPA UK.

Co-operative Online Doctor Co-operative Online Doctor is an online doctor service with a UK GMC qualified doctor for online medical consultation. It offers a professional, safe, discreet and fast way of seeking treatment for medical conditions, with services being particularly useful to patients who do not have time to visit a doctor or are seeking treatment for a condition they do not want to discuss face-to-face.

Odyssey New Media was commissioned by the company to build the website, design banners, create a CMS system and make a user-updateable blog site.

“Great work – the blog was built on budget, on time and to a very high standard. I always use Odyssey New Media now for any website jobs and image banners,” Chris Knight, Marketing Manager of Co-Operative Healthcare commented.

Likewise, Odyssey also worked on the Midcounties Co-operative travel website, the largest independent UK co-operative, with gross sales in excess of £738 million. They cover a wide range of areas including West Midlands, Shropshire, Staffordshire, Oxfordshire, Gloucestershire, Buckinghamshire, Wiltshire and Worcestershire.

Odyssey New Media were asked to help Co-operative Travel to improve its SEO efforts in order to maximise the company’s organic search presence. A large part of these optimisation efforts involved completely re-writing and expanding Co-op’s existing content.
In addition, Odyssey has been involved in elements of social media, online PR, usability analysis and enhancement.

Company: Odyssey New Media
Name: Robert Stoubos
Email: [email protected]
Address: The Old Bus Garage, Harborne Lane Selly Oak, Birmingham B29 6SN UK
Telephone: +44 (0)794 042 0201

A Wealth of Specialist Services
FinanceInfrastructure and Project Finance

A Wealth of Specialist Services

TCA Asset Management is a specialised investment boutique, established in Geneva during 2011. Managing Director Ludovic Bonnamour discusses the firm’s work, following their success in achieving the accolade of the Most Outstanding Investment Advisory Firm – Switzerland, as part of the Fund Manager Elite 2017 series.

TCA Asset Management is an innovative alternative boutique asset management firm. Established in Geneva in 2011, it is a fast-growing company, currently providing four complimentary activities: wealth management; corporate finance; family office and fund support services.

The firm was established to bear in mind any forthcoming regulatory changes and evolving client needs over the long term (i.e. greater efficiency, higher service levels, global banking and choice of services). The business was structured from a risk management perspective, rather than the usual business model adopted by EAMs of just pooling assets. This model brings a long-term perspective for both internal and external clients, enabling the company to grow continuously.

Ludovic Bonnamour is the managing director and partner of TCA Asset Management, a Swiss-based advisory boutique specialising in fund support services, wealth management and corporate finance. In his own words, Ludovic tells us more about his own role in the firm.

My role is to build and to develop the company as an overall (from the business activities to the CFO duties), so I am involved in global management and business development when assisting the team and our specialists in the day to day business for servicing clients.

“I have worked 14 years in finance and be able to acquire skills and knowledge from international companies such as Allianz and HSBC in several functions from risk management to advisory services, and alongside internal and external clients in retail banking, private banking and corporate banking activities. Specialising in alternative investments as well as in quantitative fields, I worked in the hedge funds industry, credit advisory, portfolio leverage analysis, Basel regulatory capital requirements and lending activities, while liaising with group offices before developing new services from TCA Asset Management since 2011.”

Opportunities and challenges for the industry The firms in Switzerland and abroad recently recovered from the global heavy consecutive financial crisis of the last ten years, that impacted not only the financial markets, but also the real economy Ludovic highlights.

“That highlighted clear shifts in strategy for lots of countries, governments and companies, working on new kind of technologies, new types of income streams while sometimes venturing into completely new approaches” he went on to say.

“Switzerland is now for a while, very well recognised for its manufacturing industry, for the chemical and pharmaceutical industry, as well as for its knowhow in terms of financial centre. Switzerland is for a long time recognised for its stability, universality, responsibility and excellence with proven methods and reliability” Ludovic continues.

First Triggered by the 2008/2009 crisis and the subsequent sovereign debt crisis, the last five years have had an impact on the local financial market environment in Switzerland and its wealth management industry Ludovic believes. This includes solving the problems of the past with taxation and transparency, adopting international standards, bringing market access in the EU and compatibility of products and improving the competitiveness framework conditions.

“The authority started to strengthen professionalism and regulatory requirements for managing financial assets and financial companies. At the same time, due to higher costs, sometimes decrease of profitability or even legal constraints, banks merged or closed, therefore the number of actors continuously decreased by more than 20% over the last twelve years (338 in 2004 and 266 in 2015 – source SNB).

“The private banking industry in Switzerland (in numbers) is today represented by 266 institutions and more than 2400 independent firms (from 1 to 15 employees), so that is nearly 90% of the financial actors. Independent actors so called ‘External Asset Managers’ (EAMs) manage clients’ assets through banks (custody and brokerage services) with a portfolio management approach based on an advisory or a discretionary mandate on behalf of clients.

“Nowadays, CHF 6567 billion are managed in Switzerland through banks – 50% of these assets are originated from abroad (recognised expertise by the international clients) – and this corresponds to a market share of 25.0% of the global cross-border asset management business placing Switzerland n°1.” (source SwissBanking.org)

Having worked in the field for more than 14 years, created an EAM multi boutique asset management firm, developed a cross selling approach with four activities, developed a large network of partners, banks, investors and clients in Switzerland and abroad, Ludovic can attest of a real need of services and a real opportunity to gather market shares.

“A good part of EAMs are now too small for being able to survive (1 to 3 people), offer only one expertise (portfolio management without advisory services or CIO), express difficulties in bringing transparent solutions and value added to their clients.

On top of all this, a vast majority of these actors are turning or have turned 55/65 years old and therefore do not want to build new teams and services. These investment boutiques cannot afford to hire senior investment specialists dedicated to macro research and products. They finally must pay external services such as our “CIO Office Solution” for getting access to a professional advisory and investment committee services”

“Surprisingly, each crisis has helped our firm to increase both its reputation and simultaneously its revenues. Due to a lack of credit in the market following the credit crunch, and based on the team expertise -we have developed an offer around corporate needs that has met people’s needs, the Bernie Maddoff story helped us to develop the fund support activities due to a need of transparency, a third-party monitoring and credibility from a recognised external team.”

“Moreover, the private banks themselves are indirectly helping us to develop businesses through their changing employment policies (reduced job security, constantly increasing pressure and decreasing rewards) and also their approach towards their clients (arbitrarily closing bank accounts of smaller clients in order to manage fewer relationships). We now talk about externalisation and independency from banks.”

Ludovic concludes that clients are more and more comparing services, looking for fee transparency, alignment of interests and open architecture while talking about investments and custodians. Our company has evolved since its inception in 2011 and developed several complimentary activities that led to several well-deserved awards and recognitions from peers based on this long-term approach.

Company: TCA Asset Management
Name: Ludovic Bonnamour – Managing Director
Email: [email protected] 
Web Address: www.tca-am.com 
Address : Rue du Port 8/10, 1204 Geneva, Switzerland 
Telephone: +41 (0)22 566 5250

Benchmark of Success
Capital Markets (stocks and bonds)Markets

Benchmark of Success

Communications Strategy Group (CSG) creates targeted, measurable traditional and online influencer relations campaigns that tie directly to its clients overall marketing and strategic objectives.

Powerful and effective marketing communications is based on a content value exchange whereby organizations engage prospects, customers and influencers through relevant and purposeful content in exchange for their attention, engagement and patronage.

“At CSG, we leverage our deep understanding and network of influencers in the industries we serve to create, package, distribute and promote compelling and impactful content to and through influencers on behalf of our clients,” explains senior vice president and head of financial and professional services at CSG, Dan Mahoney.

Dan has a long track record of working with innovative FinTech companies and has also worked with more established global brands, such as Janus Capital, Farmers Insurance, Charles Schwab, Invesco PowerShares, The Bancorp, NACHA, Wolters Kluwer and the Financial Planning Association to achieve a wide variety of business goals through strategic communications.

“Public relations is not reserved for strict, traditional media relations anymore,” he states. “What PR encompasses is changing every day; but as it stands today, PR is everything from television, print, social media, online news sites, apps and more.”

Organizations gain a competitive advantage by leveraging and engaging with influencers and influential organizations, such as media, analysts, associations, non-profits, politicians, customers, social media communities and bloggers. This form of engagement is what CSG defines as influencer relations.

“Influencer relations focuses on deeply understanding an industry and effectively communicating with the right people in the right places at the right time, often at the ‘point of need,’” Dan embellishes. “We find stakeholders who can have impact; establish an authentic voice among champions who can help spread your message; build and maintain channels of communication; and engage your prospective and existing clients and customers. We help you establish a clear path and approach to influencers, exponentially driving sustainable and profitable longterm growth.”

CSG is composed of a team of people who take an unusual level of pride in their work and care deeply about their clients’ success.

“We describe ourselves as ‘work horses’ not ‘show horses,’ which is a significant distinction in the communications arena. We are determined, thoughtful, ingenious, passionate, hardworking, caring and talented professionals who serve as an extra set of arms, legs to help you get work done, and thoughtful minds and hearts with which to collaborate.

“Our team is further enhanced by our ability to tap our partners in the IPREX network of communications agencies around the globe. With more than 1,500 professionals in over 100 offices worldwide, IPREX affords CSG clients a global footprint of reliable and proven communications solutions providers that are equipped to achieve clients’ objectives.”

As the financial services practice director at CSG, Dan oversees all of the practice’s sectors, including banking, personal finance, payments, insurance, financial technology, legal, accounting and asset management, which allows him to share best practices and lessons learned among the various teams.

Previously, Dan provided strategic communications guidance to high-profile national, state and local political campaigns, and on behalf of issue advocacy organizations. Dan graduated from the University of Northern Colorado with a bachelor’s degree in political science.

“The most compelling ingredient of CSG’s success is our commitment to exceptional work. Our work is based upon creative approaches to challenges and opportunities, followed by good old-fashioned elbow grease to achieve intended outcomes. The culture and the company have been built upon this dedication and the delivery of meaningful, measurable work.

“Our content-based influencer relations philosophy allows us to deploy a broad spectrum of strategies and tactics that deliver the benefits of a well-constructed content value exchange. Whether it is a content audit, creation of highly compelling content, packaging it in various formats or promoting through traditional, online PR and social media, it’s all designed to achieve short- and long-term objectives.”

While there are vast opportunities within the communications realm, the strategic challenge is to identify the initiatives that will most effectively impact a clients’ bottom line, triple or otherwise.
“We work to direct efforts and dollars toward the areas that will most benefit your business, whether it is building thought leadership, lead acquisition, conversion, reputation management, crisis communications, loyalty and retention, or business-to-business versus business-to-consumer solutions. We offer you measurable outcomes, which keeps our course, expectations and deliverables in check.

“Success doesn’t always look how you thought it would. By measuring these different facets of impact, you can find ways to effectively measure how targeted audiences received and interacted with your campaign. But remember, it all starts with setting the proper benchmarks.”

Man About Town
Family OfficesWealth Management

Man About Town

Founded by Andrew Heiberger in 2010, Town Residential has cemented its position as New York’s foremost luxury real estate services firm with an exhilarating foundation and seamless execution of best-in-class customer service by an unparalleled team of more than 500 Representatives and professionals strategically located in ten prime Manhattan, Brooklyn and Queens locations.

Town Residential boasts a unique fully integrated luxury real estate platform and specializes in luxury residential sales; leasing; the marketing, sales and leasing of property developments; commercial and retail. With uncompromising principles, Town Residential has established a new standard of excellence within the industry.

At all price-points, Town Residential implements a hand-crafted approach to the marketing of sale and leasing properties with unequalled distribution online and in print; through press and events; and industry syndication. Town Residential’s innovative platform extends beyond traditional print and digital exposure. We have cultivated strategic relationships and focused on events that provide our Representatives with personal access to thought leaders, trendsetters, and tastemakers.

Debra Stotts, licensed Real Estate Broker specializes in luxury property in New York City, with deep-rooted expertise in – and a passion for – the vibrant, international Midtown East neighborhood. Her credentials include unparalleled knowledge of the iconic, award-winning residential building, 845 United Nations Plaza.

Debra has consistently been a leading broker at Town Real Estate. With over $550 million in transactions, her success is the result of 25 years of experience, immersive market intelligence, a history of providing exceptional service, and – especially – the strength of the client relationships she has built on mutual understanding, respect, and trust.

Whether buying, selling, leasing, or managing, Debra’s focus is on her clients; her clear-headed guidance and tireless work ethic ensure that their goals – whether financial or personal – are achieved. She has been entrusted to transact real estate for investors around the globe and for families making their first home purchase, for foreign governments, relocating executives, international institutions, diplomats, downsizing empty nesters, and everyone in between.

Debra firmly believes that Midtown East offers the best value for a NYC investment – so much that she makes her own home here. Ask and she’ll tell you about the hot restaurants, the different parks, and where to go for the best artisanal pastries. She can tell you about the history of the international. Turtle Bay neighborhood and who’s lived there, about the stunning, protected views from 845 United Nations Plaza -and about its inner workings. Informed by her seven years as the onsite sales and leasing director, she knows the building intimately and firsthand.

Drawn to neighborhoods that, like Midtown East, offer nearby parks and water views – a respite from the city bustle – Debra previously worked in on-site sales for luxury properties in Battery Park. Prior to that, she built her real estate business helping to relocate United Nations Representatives to New York. Early in her career, in the days of luxury flying, Debra was a TWA flight attendant, a job she credits for instilling in her the value of providing top-quality, exemplary service.

A Manhattanite since she was in her early 20s, Debra raised her family and nurtured friendships here. From the tranquil early mornings to the rush of the workday to the throbbing pulse of the nightlife, she relishes the city’s changing energies. She enjoys the multi-cultural foods and experiences and the easy access to Broadway Theater, to the world’s best museums, and to Central Park. Debra especially cherishes the striking view from her own home, which overlooks the vast and varied East River.

An Alpine Luxury Resort of the Highest Calibre
Capital Markets (stocks and bonds)Markets

An Alpine Luxury Resort of the Highest Calibre

An Alpine Luxury Resort of the Highest Calibre

On the flight there with Swiss International Air Lines AG, I will not forget my first glimpse of the snow covered mountains I spotted, and the thrill of seeing them for the first time. On the train ride from Zürich Airport, I could not keep my eyes away from the stunningly large lakes and the opportunity to see the snow covered mountains. I have never been to Switzerland, but fell in love with it straight away.

The journey to St. Moritz was very smooth indeed, with no delays, as the transport system in the country is remarkably efficient and organised in my opinion. Although most of my train journey to St. Moritz was in the dark, it was exciting to see the snow outside, and when I arrived there the drop in temperature was noticeable. Having said that, the quality of the air was remarkable and wonderfully fresh. An evening meal in the historic Kulm Country Club, in the grounds of the Kulm Hotel, was very welcome indeed after a day of travelling.

The Kulm Hotel

My welcome to St. Moritz was a remarkable one, with a Kulm Hotel taxi taking me from the train station to the hotel where I checked in and taken up to my room. As I walked into my room, most of the ceiling and walls were covered with local wood, which were visually stunning and boasted very fine craftsmanship, and emanated a very pleasant smell in the at all times. The room was the same size of my flat, possibly a bit bigger, so there was certainly no shortage of space.

By way of background, it is worth noting that the Kulm Hotel was the first hotel to be built in St. Moritz and opened in 1856. It was the stage for the first electric light in Switzerland and also hosted the 1928 and 1948 Olympic Winter Games in its grounds. Today, the hotel boasts 172 rooms and suites with stunning views of Lake St. Moritz and the formidable slopes of the Corviglia / Piz Nair mountain range. There are also five restaurants, an expensive spa and six conference rooms plus the 9-hole Kulm Golf Course, three tennis courts and a natural ice rink.

My hotel room featured an impressive array of lighting, and the incredibly tall windows really struck me, not to mention the many comforts the room offered. An area to relax in and wind down on a sofa with a coffee table was offered, as well as coffee making facilities and sparkling or still bottled water. The room also has the most comfortable and well made bed you have ever slept in, with beautifully soft and clean cotton sheets. There were an interesting assortment of pillows available to order, and I was intrigued by the heated cherry scented pillow, so I ordered this and it was delivered to my room very promptly. It felt marvellous on my neck and helped me to truly relax and get to sleep.

I cannot fault my hotel room in anyway. The size of the wardrobe was very generous indeed, and I was very easily able to hang my suit up. The bathroom has two sinks in it, and a mirror covering one of the entire walls on the side of the bath. An impressive array of Asprey shower gel, shampoo, and conditioner were on offer not to mention a very fine collection of high quality flannels and towels.
Waking up during the first morning there, I felt enormously privileged to enjoy a spectacular mountain view from my hotel room window. There was even a balcony with a table and chairs, so I was able to sit down there and enjoy the remarkable view of the snow covered and sun topped mountain ahead of me and the town of St. Moritz as well.

At the Kulm Hotel, the sumptuous breakfast buffet on offer at Le Grand Restaurant was fit for a king, with cooked breakfast items, cereals, yoghurts and fruit juices on offer, not to mention real coffee.
I was fortunate one day to have a professional spa treatment on a lower floor of the Kulm Hotel, overlooking the breathtaking mountains. The massage was totally relaxing and stress reliving for me and I would recommend it to anybody who wants to completely unwind.

The effect of the Kulm Hotel’s second to none facilities and the beauty of the surrounding area made me feel immensely refreshed and relaxed during my entire stay. The sheer wonder and beauty of the area will stay with me for all of my life. I would thoroughly recommend a visit to this region of Switzerland to anybody who wants to get away from the fast pace of life, and to basically enjoy a stress free holiday.

Skiing on Corviglia St. Moritz is the largest winter sports region in Switzerland, indeed winter tourism was born in the region in 1864, and the country’s first ski school was opened there in 1929. The town has also hosted the Alpine World Ski Championships many times and the region has four main peaks and 350 kilometres (93 miles) pistes and over 220 kilometres (136 miles) of cross-country ski trails, not to mention 350 kilometres (93 miles) of winter walking paths. It is no wonder that St. Moritz is one of the most varied winter sports regions in Switzerland and perhaps the most inspiring.

On the first morning of my visit, the skiing on Corviglia was a marvellous new experience for me, which started off with me being kitted out at the ski shop in the Kulm Hotel. The shop was superbly stocked and it was certainly an enjoyable challenge to get the hired ski boots on my feet! The boots were not easy to walk in and were very heavy, so whilst that was physically very challenging, I nevertheless relished the opportunity to take part in something I had never done previously.

A journey up in the ski lift brought me and one other member of the party to a beginner’s slope, overlooking stunning mountain scenes. I was given a skiing lesson by a professional instructor, who I must say totally put me at my ease. The instructions given on how to ski were very clear indeed, and what stuck in my brain was the wide ‘pizza shape’ one had to make when ‘braking’. The instructor said that I did superbly for somebody that hasn’t done skiing before, so this pleased me greatly.

Restaurants in the region The morning skiing on Corviglia was followed by a superb five-course lunch at the legendary Marmite, one of the best mountain restaurants in Switzerland, renowned for its truffle pizza. I must say that the truffle pizza was second to none and I could not have wished for a better view when eating it.

There are around 300 restaurants in the region, of which 30 have been awarded a total of 453 GaultMillau points and 8 Michelin stars between them. It struck me that there are an amazing collection of restaurants there are in the region, which were expensive in my eyes, but the quality of the food and the service provided reminds me of the adage that ‘you get what you pay for’.

One of the excursions I took part in was to the Kulm Hotel’s sister property, the Grand Hotel Kronenhof, which has been welcoming guests since 1848 and is today an outstanding example of 19th century Alpine hotel design. It is located in Pontresina, six miles away from St. Moritz. I enjoyed a formal dinner in the stunning Grand Restaurant, under the Neo-Baroque arches, indeed it is here that I enjoyed a five course meal that included deer. I also was given a tour of the hotel, which was upgraded in 2007 with 28 new guest rooms and a stunning spa complex covering more than 2000 metres.

Every meal I had during the visit was served with bread and butter, including the meal remarkable cheese fondue at the Chesa al Parc. One of my favourite meals during the stay was at the Kulm Hotel’s ‘The Pizzeria’, a typical Italian trattoria and the spaghetti Bolognese I had there was prepared, cooked and served to utter perfection. The cold coffee with ice cream in it after was cool and refreshing, and very welcome indeed after a satisfying meal.

Afternoon skijoring Afternoon skijoring on the first day of my visit to the region was very exciting, and started after a short journey out of St. Moritz, again this was a totally new experience for me but. I had got used to wearing skis in the morning, but this time a wild horse pulled me along a track of snow. The lady on the horse had a rope, which split into two, so a handle could be accommodated for me to hold on to.

The feeling of fresh air and sun on my face, whilst being pulled along by a horse is one I will never forget, and felt very exhilarating indeed. It was truly a joyous experience, and tremendous fun – even when I fell over (and very quickly let go of the rope when this happened).

Afternoon husky mushing The next day, the press party I was a part of returned to the same spot to be greeted by a large group of husky dogs. The opportunity here was to have a four of them pulling one person on a sled, which importantly had brakes on! There were three simple commands I was instructed to give to the obedient huskies, which were ‘okay’ (to go), ‘easy’ (to slow down) and ‘woah’ to stop! I was also able to brake using my feet, so knowing how to stop was definitely a comfort to me!

The dogs were very energetic to begin with on the sled ride, some of which was on a frozen lake. Thankfully I did not fall off, but there was one time when the sled went at quite an angle to the right and I thought that I might! Later into the journey, the dogs got tired and slowed down somewhat. I am not a dog person, but I must say these particular breeds totally won me over in their impressive efforts.

Muottas Mutragl sledding Sledding down Muottas Mutragl was much harder than I thought. The steep lift to the top of the mountain was the easy part as we ascended from an altitude of 1,738 metres to 2456 metres (5,702 – 8,058 ft) above sea level. Once we got to the top, we were on and overlooking many snow covered mountains.

It felt remarkable to be there and to briefly enjoy the magnificent views of the mountains and the surrounding area. You have to be there to capture the wonder and the awe of it. I believe it has for many years been a source of inspiration for poets, writers and artists and of sheer delight for guests. The sled track itself was excellent, but very icy higher up, so it was not easy to stop when pushing ones feet firmly to the ground!

Rhaetian Railway’s Albula and Bermina line The train journey on the Rhaetian Railway’s Albula and Bermina line from St. Moritz to Zürich was remarkable, as it all took place in daylight, so I was able to enjoy the many picturesque UNESCO protected sites not to mention the viaducts and tunnels though the many mountains.

The experience of the whole trip was a remarkable one, and I have nothing bad to say about it. My whole experience of visiting Switzerland was marvellous, and I certainly found a very warm welcome from all the people I came into contact with, when carrying out the aforementioned activities. For those who want to escape the stresses of this world, look no further than St. Moritz. Whilst you can take part in energetic activities, you have ample opportunity to rest and relax. You can truly get away from it all here.

Further sources of information Kulm Hotel St. Moritz Rates at the Kulm Hotel St. Moritz, which is open next winter season from 3 December 2017 to 2 April 2018, start from CHF 675 for two people sharing a double room on a half-board basis; book online at www.kulm.com.

Switzerland Tourism For more information on Switzerland visit www. MySwitzerland.com or call their Switzerland Travel Centre on the International freephone 00800 100 200 30 or e-mail, for information [email protected] myswitzerland.com; for packages, trains and air tickets [email protected].

Swiss International Air Lines UK & Ireland to Zurich: SWISS offers up to 119 weekly flights from London City, Heathrow, Gatwick (seasonal), Manchester, Birmingham, Edinburgh (seasonal) and Dublin to Zurich. All-inclusive fares start from £67 one-way*, including all airport taxes, one piece hold luggage and hand luggage, plus meal and drink. SWISS are also happy to transport your first set of ski or snowboard equipment and boots free of charge in addition to your standard free baggage allowance.

UK & Ireland to Switzerland: SWISS offers more than 180 weekly flights from London City, Heathrow, Gatwick (seasonal), Manchester, Birmingham, Edinburgh (seasonal) and Dublin to either Zurich or Geneva.

All-inclusive fares start from £54 one-way*, including all airport taxes, one piece hold luggage and hand luggage, plus meal and drink. SWISS are also happy to transport your first set of ski or snowboard equipment and boots free of charge in addition to your standard free baggage allowance.

For more information visit swiss.com or call 0345 601 0956

Swiss Travel System By road, rail and waterway throughout Switzerland: The Swiss Travel System provides a dedicated range of travel passes and tickets exclusively for visitors from abroad. The Swiss Transfer Ticket covers a round-trip between the airport/Swiss border and your destination. Prices are £116 in second class and £188 in first class.
For the ultimate Swiss rail specialist call Switzerland Travel Centre on 00800 100 200 30 or visit www. swisstravelsystem.co.uk

Wealth & Finance April 2017
Issues

Wealth & Finance April 2017

Click below to read this months issue

Wealth & Finance Magazine Wealth and Finance Wealth & finance banking finance funds markets regulation risk management tax wealth management market trends stock trends stock market trends wealth management magazine wealth magazine finance magazine

Welcome to the April 2017 edition of Wealth & Finance International magazine.

In recent news, the U.S. Securities and Exchange Commission (SEC) enforcement activity remained elevated through the first half of fiscal year 2017, according to new research from Cornerstone Research. The data show an increase in actions involving broker-dealers, issuer reporting and disclosure, and securities offerings.

Looking ahead, we find out that Weenie Business Solutions in Swindon believes that entrepreneurs in the UK need to get ahead of the digital tax rules arriving in 2019. While
HMRC’s ‘Making Tax Digital’ plans are still sending shockwaves through the business community, Amelia Bishop of Weenie Business Solutions believes that, “everyone can plan for change and find bespoke solutions.”

I hope you enjoy reading this edition.

Jonathan Miles, Editor

 

A World of Opportunity
Private ClientWealth Management

A World of Opportunity

A World of Opportunity

Kehrli & Zehnder is a multi-family office that advises wealthy individuals and families on how to manage, organise, allocate and protect their wealth. The firm oversees all aspects of its clients’ wealth with core strengths in asset management and the selection of correlated and non-correlated alternative investments.

Dominik E. Zehnder is co-founder of the firm, serves as Chairman of the Board and co-runs the business. “Restructurings and lay-offs at banks and financial institutions is a great opportunity for us to showcase our firm as an anchor of stability and reliability,” he says. “The partners at Kehrli & Zehnder only have one goal at the core: over-deliver on the service and performance expectations of our clients. We provide high quality, independent, unbiased and professional advice.

“The current restructuring wave also paves the way for us to hire qualified and experienced staff who look for a more dependable environment for their clients and for their own professional future.
“When clients come to our firm, they are served by one of the partners” (rather than being covered by a junior member of the staff). “Our belief is clients have given us their trust and we have a duty to make sure they have a good experience.” Every partner has a unique skill that benefits all clients of the firm.

Dominik firmly believes that the best way to measure the firm’s success is how long clients stay with them. “I am happy to report that we have clients who have been with us since we were with our previous employers (in the last century!)” he enthuses. “The best endorsement for us is when clients refer their friends or business partners to us” and those who give us a larger portion of their assets over time.”

Dominik embellishes a little on the firm’s history. “We started Kehrli & Zehnder in 2003 and grew it one client at a time, step by step,” he begins. “We want to grow organically and in a sustainable manner. Our industry is one built on trust, and trust is not created overnight. Kehrli & Zehnder is a firm for the long-run.”

Kehrli & Zehnder is off to a successful start in 2017 with two new mandates. In the first, “the principal sold the family business and asked us to set up a wealth-preserving structure that focuses on non-correlated investments,” states Dominik. “The second is from one of our largest (and longest standing) clients who has given us a second mandate to invest in non-correlated assets.”

“Many like our open-minded and international orientation. In addition to our home market in Switzerland, we have representative offices in Hong Kong and Lugano. We travel to Asia, the U.S. and London at least once a year to perform due diligence on existing asset managers and identify new investment opportunities.”

As part of his day-to-day role, Dominik attends to clients, meets managers and writes the firm’s monthly investment comment. Client acquisition is mostly focused on their core target pool (entrepreneurs and wealthy families). This comes only after having established a rapport of trust.
“The key challenges these days are high valuations, markets that are distorted by central bank actions and political risks. Clients want capital preservation but also capital appreciation. We will achieve the first goal by diversifying across asset classes, regions and strategies.

By picking attractively valued and partially overlooked strategies or geographies we seek to achieve the second objective. Depending on our clients’ profile, we overweight one objective over the other.
“The regulatory environment and administrative requirements have become increasingly cumbersome and continue to absorb resources. By choosing our clients carefully, we are minimizing regulatory issues.”

Building a strong and loyal team is imperative. “Our staff is instrumental to the success of our firm and they ensure the quality and consistency of our service. Staff turnover is very low as we strive to provide a good work/life balance.”

Company: Kehrli & Zehnder Global Wealth Management
Name: Dominik E. Zehnder Email: [email protected]
Web Address: www.kehrlizehnder.com
Address: Gartenstrasse 33, CH-8002 Zurich, Switzerland
Telephone: +41 44 222 1818

Successful Placement of the €300 Million Notes Offering
FinanceInfrastructure and Project Finance

Successful Placement of the €300 Million Notes Offering

Successful placement of the €300 million notes offering


Rexel, a global leader in the professional distribution of products and services for the energy world, has successfully placed €300 million of its 2.625% unsecured senior notes due 2024 (the ”Notes”).

The delivery and settlement and the listing of the notes on the Euro MTF market of the Luxembourg Stock Exchange are expected to occur on or about March 13, 2017.

The Notes, which mature on June 15, 2024, will be callable as from March 2020. They will rank pari passu with Rexel’s senior credit facility and other senior unsecured notes. The Notes are expected to obtain the following ratings: Ba3 by Moody’s (while Rexel’s corporate rating is Ba2 with a stable outlook), BB- by S&P (while Rexel’s corporate rating is BB with a stable outlook) and BB by Fitch (in line with Rexel’s corporate rating with a stable outlook).

Rexel will use the proceeds of the issuance of the Notes, together with some available cash, to redeem all of the 5.250% senior US$ notes due June 2020 (the “2020 Notes”) of which US$330,000,000 remain outstanding. Rexel expects to redeem the 2020 Notes on or about June 15, 2017. Rexel can elect not to redeem the 2020 Notes if it does not issue the Notes or if there is a material adverse change in financial markets.

This issuance will allow Rexel to enhance its financial structure by extending its debt maturity profile and reducing its overall cost of financing.

BNP Paribas and Crédit Agricole Corporate and Investment Bank acted as Joint Global Coordinators, and as Joint Lead Bookrunners for the offering. Merrill Lynch International, HSBC Bank plc and Natixis acted as Joint Bookrunners, and Banco Bilbao Vizcaya Argentaria, S.A., Crédit Industriel et Commercial S.A. and Société Générale acted as Co-Lead Managers.

Patrick BERARD, Chief Executive Officer, said:

“The success of this new seven-year note issuance confirms investor confidence in Rexel’s business model and strategy. It will allow us to refinance the 5.250% notes issued in 2013 at a significantly lower cost.

This operation constitutes a further step in our continuous efforts to strengthen our balance sheet and reduce our cost of financing.”

This document is not an offer of securities for sale nor the solicitation of an offer to purchase securities in France, in the United States or any other jurisdiction.

The securities described herein may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons unless they are registered or exempt from registration under the U.S. Securities Act of 1933, as amended (the “Securities Act”). The securities described herein have not been and will not be registered under Securities Act and Rexel does not intend to make a public offer of its securities in the United States.

The offer and sale of the Notes in France will be carried out through a private placement in accordance with article L.411-2 of the French Financial and Monetary Code and other applicable laws and regulations. There will be no public offering in France.

EBRD Launches Pioneering Index-Linked Eurobond in Kazakh Tenge
Capital Markets (stocks and bonds)Markets

EBRD Launches Pioneering Index-Linked Eurobond in Kazakh Tenge

The Bank’s 34 billion tenge eurobond, issued this Monday, has a five-year maturity and pays a spread of 10 basis points per annum over the 3-month CPI rate. The issue will settle on 21 November 2016, and is lead managed by Citi Global Markets Limited. The bonds will be cleared through Euroclear and Clearstream in tenge and listed in London. The EBRD will also apply to the Kazakhstan Stock Exchange (KASE) to seek a domestic listing for the Notes, and subsequently will request the National Bank of Kazakhstan (NBK) accept them for their repurchase operations (REPO) with domestic banks, thereby increasing their liquidity.

Philip Brown, Managing Director & Head of SSA DCM at Citi said: “Citi was delighted to work with the EBRD on this ground-breaking transaction, it’s interesting to see demand for inflation protection from the increasingly sophisticated investor base in Kazakhstan. This trade highlights the useful rolem the EBRD can play in helping local investors meet their needs and in doing so, develop new markets.”

With the introduction of an inflation targeting regime in August 2015, the NBK is creating the conditions for sustainable economic growth in an environment of low interest rates – a policy very much supported by the EBRD. The NBK’s visible efforts to improve the monetary transmission mechanism, including through better inflation forecasting and efficiency in communicating its monetary policy, have encouraged the Bank to link both its tenge assets and liabilities to CPI.

Isabelle Laurent, Deputy Treasurer and Head of Funding at the EBRD said: “With our inaugural CPI-linked issue, Kazakh nstitutional investors, and pension funds in particular, will be better able to match their liability profile, while the EBRD’s Kazakh clients should benefit from long-term funding for their projects linked to a transparent and credible index”.

Given the importance of a credible instruments for capital market development, the EBRD, has for many years been actively promoting and participating in the creation of a competitive and transparent interest rate-setting mechanism in countries where it operates.

The EBRD is both a significant tenge lender and borrower and has taken an active part in developing local capital markets. It issued its first tenge-denominated bond in February 2009.

The EBRD’s triple-A rating has been confirmed by all three leading international rating agencies with stable outlook.

www.ebrd.com.


CMA Demands Greater Transparency from Legal Service Providers
LegalRegulation

CMA Demands Greater Transparency from Legal Service Providers

Obtaining the right service at good value can therefore be challenging as consumers can face wide variations in the cost of similar services. They can also struggle to find enough information to help them identify their legal need in the first place.

The CMA has set out a package of measures which challenges providers and regulators to help customers better navigate the market and get value for money. These changes have been drawn up after discussions with key stakeholders, including the 8 frontline legal regulators, and will be overseen by the Legal Services Board, which will report regularly on progress. These include:

A requirement on providers to display information on price, service, redress and regulatory status to help potential customers. This would include publishing pricing information for particular services online (only 17% of firms do so at present).

Revamping and promoting the existing Legal Choices website to be a starting point for customers needing help, information and guidance on how to navigate the market and purchase services.

Facilitating the development of comparison sites and other intermediaries to allow customers to compare providers in one place by making data already collected by regulators available. At present only 22% of people compare the services on offer before appointing a lawyer.

Encouraging legal service providers to engage with feedback and review platforms to ensure that customers can benefit from the experience of others before making their choice.

Recommending that the Ministry of Justice looks at whether to extend protection from existing redress schemes to customers using ‘unauthorised’ providers.

In addition, as part of the study, the CMA considered the impact of legal services regulation on competition. The CMA found that whilst the current system is not a major barrier, it may not be sustainable in the long term. In particular, the framework is not sufficiently flexible to apply proportionate risk-based regulation which reflects differences across legal services which could harm competition.

The CMA is therefore also recommending that the Ministry of Justice reviews the current framework to make it more flexible and targeted at protecting consumers in areas where it is most needed.

Rachel Merelie, Acting Executive Director for Markets and Mergers, said:

You might not need a lawyer very often but when you do it will often be at a crucial point in your life – whether that’s buying a property, resolving a dispute or getting expert advice on financial and employment matters. So the transparency, affordability and accessibility shortcomings we have identified are a real concern.

Consumers who are equipped with the information they need to assess the services on offer and choose the best deal for them, will not just benefit personally but will also help drive competition, quality and innovation across the whole market. That means a better outcome for everyone and, importantly, fewer people will be discouraged from seeking the help they need.

Around £11–£12 billion a year is spent by consumers on legal services in England and Wales in the area covered by the study – including commercial law, employment law, family law, conveyancing, wills and probate.

The CMA has recommended that frontline regulators work with consumer and small business groups – including the Legal Services Consumer Panel, Citizens Advice, Which?, and the Federation of Small Businesses – to deliver this improved transparency on price and quality as well as clearer guidance on buying legal services.

The CMA has pledged to re-evaluate progress and the impact of the recommendations in 3 years’ time and intervene further if progress is not satisfactory.

Further information relating to the study is available on the case page and the CMA has also published a 60-second summary on the findings.

Quality
FinanceInfrastructure and Project Finance

Quality, Value and Integrity

Lennar International is a division of one of America’s largest homebuilders, Lennar Corporation (NYSE:LEN). Lennar International raises and directs foreign investments in Lennar through home sales and the United States’ EB-5 immigrant investor program and matches foreign capital with opportunities throughout the Lennar platform.

Lennar has established one of the largest geographically diverse real estate portfolios in the United States, including for sale homes, for rent homes and apartments, large master planned communities, commercial and other asset classes. Lennar is recognised as an intelligent underwriter of all manner of land positions and is a prolific purchaser, and seller, of land in the United States. The Lennar brand exemplifies our guiding principles – Quality. Value. Integrity.

Recently, Lennar International has become a beacon for foreign direct investment into the Lennar U.S. real estate eco-system, helping attract well over $4.5 billion across the platform over the last three years. Chris Marlin tells us more about his role within the organisation.

“I manage a team of incredibly intelligent, talented and hard-working people that now call North America home, but are originally from around the globe: China, Canada, Latin America, the Middle East and Europe as well as the U.S. In order to effectively communicate and appropriately react to global events, we constantly monitor the world’s geopolitical, economic and environmental status as well as what is happening with social issues, entertainment and sports. We have also created a global network of real estate professionals around the world who help us tell the Lennar story and keep us engaged in their countries.”

The firm’s success lies in the testimonies of its customers, who have nothing but praise for the company.

“We make the home buying and investment process as simple as possible” explains Chris. “Our team offers expertise in financing, guidance through the different laws and regulations foreign buyers face as well as being able to communicate in the buyer’s native language. We operate with complete transparency and integrity and our buyers and investors appreciate this level of service and professionalism.”

With regards to the future, Chris foretells both opportunities and challenges for the firm, and for the industry also.

“There is a lot of uncertainty about the world. We need to remind our partners and potential buyers that despite this uncertainty, the US offers endless reasons to invest in real estate, as long as you are investing with an experienced, consumer-oriented, transparent and highly regarded builder, co-investor, operator … like Lennar. Lennar is happy to roll out the welcome mat for everyone.

“Disruption is around every corner – and on every phone. The way the U.S. real estate industry does business could be at the vanguard of the next great disruption. Lennar sees this as an opportunity to evolve rapidly to embrace the change that is inevitable in this industry — and to lead our customers and investors into tomorrow’s realities, today.”

“However, Brand America is alive and well. The USA remains, and is expected to remain for a long time, the #1 destination for real estate capital, globally. And Lennar will continue to demonstrate why its core principles of quality, value and integrity make its platform the premier destination for US real estate investment.”

Company: Lennar International Name: Chris Marlin Email: [email protected] Web Address: www.LennarInternational.com

ACE Packages New Multinational Insurance Solution for UK and Ireland Customers
InsuranceRisk Management

ACE Packages New Multinational Insurance Solution for UK and Ireland Customers

This cover will be spanning, traditionally separate lines of business, for UK and Ireland based companies with one or more overseas subsidiaries. The cover has been designed by a specially-created project team, selected from across the region and from multiple disciplines, responding to the latest broker and client research.

During 2014, the ACE project team spoke with around 30 UK broker organisations to identify how multinational insurance solutions could be better structured to support the changing needs of their clients as they expand internationally. The common themes that emerged from this research were the need for flexibility, coherence and easily-tailored solutions, combined with the importance of seamless coverage across a client’s international operations and traditional insurance lines. Emphasis was given to the importance of clear and relevant solutions for those organisations that are just beginning to trade internationally or operate in a limited number of overseas territories.

ACE Multinational Partner has been designed to meet these needs as well as the requirements of the Insurance Act 2015, due to take effect next year. At the heart of the new proposition is a recognition of the importance of a globally compliant insurance programme in an increasingly complex regulatory and compliance environment.

Detailed benefits include:

– ACE’s broadest-ever cover as standard and available across a range of lines of business, including property, business interruption (including money, goods in transit, contract works and machinery breakdown), general liability (including environmental liability), employers’ liability, computer, global terrorism.

– Flexible cover to suit all sizes of clients.

– Simple, customer-friendly and jargon-free wording.

– Removal of insurer avoidance remedy for innocent non-disclosure.

– No basis of contract clause (See related ACE press release for full details1).

– Standard policy is warranty free.

– Access to local underwriters across the UK and Ireland, empowered to make underwriting decisions.

– Access to ACE’s global network and local regulatory and compliance know-how – including the ACE Worldview online portal which offers 24/7 real-time programme information.

– Dedicated relationship managers, underwriting, claims and engineering personnel around the world.

– Multinational training and support for brokers throughout the region, where they want it.

Sally Blyfield, ACE Multinational Partner project leader for the UK and Ireland at ACE said:

“Recent ACE research2 shows that the vast majority of European companies believe their risk profile has become more multinational over the past three years. With a mounting array of international regulations bringing ever more complex compliance requirements, they are increasingly at risk of fines, reputational damage and the potential for invalidated claims if their insurance programmes fail to perform as expected. ACE Multinational Partner provides trusted ‘belt and braces’ protection backed-up by comprehensive global service, and we have packaged it in a way that we are confident will work effectively for companies of all sizes and industries.”

Phil Sharpe, Chief Operating Officer for the UK and Ireland at ACE said:

“When we spoke to brokers about their clients’ multinational insurance needs last year, compliance with local insurance standards, advice and support managing international risks and access to on-the-ground account and claims assistance were among the priorities they highlighted. Through our own operations in 54 countries, a global network spanning 200 territories and a team of 2,000 claims handlers around the world, ACE has the right people in the right places to deliver the high level of responsiveness our clients demand and deserve, while minimising cultural and language barriers and time zone issues.”

The Winds of Change
Derivatives and Structured ProductsMarkets

The Winds of Change

CHAVA Wind LLC is an innovator in the field of energy technologies and has developed a new business approach with a breakthrough product to succeed in the rapidly growing deployment of smaller-sized Vertical Axis Wind Turbines (VAWTs) around the world.

Chief Executive Officer, Hagen Ruff, tells us more about the firm and its business approach.
“As many regions in the world lack the grid capacity for large wind farms, special incentives are provided for small distributed wind. The highest incentive is provided in Japan, where the central government mandates a Feed-In-Tariff (FIT) of ~50 US-cents/KWh.

“For this, and several other strategic reasons, we are starting the market roll-out in Japan, followed shortly thereafter by several other regions world-wide.”

The advantages of small-to-medium-sized wind turbines include not being in any competition with ‘big-wind’ high-voltage grid-tied wind farms. Large wind projects can only be fed in large-capacity transmission networks and are paid on the basis of wholesale prices.

Smaller wind farms can also focus on smaller and mid-scale applications between 20- 100KW/unit which allows direct use of power and therefore power is paid at retail pricing, (up to eight times higher in many parts of the world).

CHAVA Wind uses a different approach to other similar companies, in that its technology employs Vertical Axis Wind Turbines (VAWTs) as opposed to Horizontal Axis wind Turbines (HAWTs). Using (VAWTs) has clear advantages over HAWTs – they take wind from all directions without the need for a yaw system; VAWT wind-farms will require up to eight times less land compared to HAWTs; and they are more aesthetic.

CHAVA’s technology is the result of a multi-year research and development project, however it faced several challenges, including VAWTs not receiving the same attention and funding thus far compared to ‘bigwind’ HAWTs; and many small group designs showed initial flaws and failures, with efficiency being sub-par.

“It required a focused effort by experts in the field of aerodynamics, engineering, and composite manufacturing to develop a robust design for a 20-year life-span with superior efficiency,” comments Hagen.

The goal of this focused “century project” of Vertical Axis Wind Technology was to develop the next generation of the most advanced small VAWTs, including the highest ever VAWT peak efficiency (43%); the most durable design through extensive modeling and testing and low noise; hydraulic tilt -tower for easy installations and maintenance; the best long-term Leveled Cost of Electricity; and mass-producible design at low cost.

Chava Wind is currently seeking a third and final round of funding in the amount of $2.5M and is expecting to complete the International IEC 61400-2 certification in summer of this year.
Hagen Ruff is Chief Executive Officer of CHAVA Wind. He earned his MS in Mechanical Engineering (Dipl. Ing. FH) from Fachhochschule Wiesbaden in Germany and is responsible for the overall CHAVA Wind offering from mechanical engineering through end-user systems integration as well as sales and marketing.

Hagen started his career at Accenture (previously Anderson Consulting) working on business process work flow challenges and opportunities for improved R.O.I. through process improvement for companies like Sempra Energy, Polaroid, the German Railway, Philip Morris, the Hong Kong Railway KCRC and CPS Energy.

Mr. Ruff started his own Business Intelligence management consulting firm, Business Information Solutions LLC (BIS), with a focus on management consulting, IT consulting, Executive Leadership, and SAP and Enterprise Software integration solutions for large-scale Enterprise Applications for Fortune 100 clients.

His firm, BIS, was acquired by Sapient Inc. (now PublicisSapient and Mr. Ruff was responsible for leading Sapient’s global SAP practice, with a particular focus on the Energy Services marketplace, where companies like Canadian electric utility Enbridge relied upon Mr. Ruff’s process improvement focused methodology for solving the type of energy demand challenges that are creating new opportunities to improve the world’s current energy systems. In addition to his hands on experience, Mr. Ruff has also served as a Board Member and Executive of the Energy Industry focused joint venture Soliance.

In co-founding CHAVA Wind, Hagen Ruff brings his strong passion for solving energy demand challenges and the associated economic, geopolitical, and environmental problems to his background in mechanical engineering as well as information infrastructure integration with a goal of disrupting the strategic delivery market for both enterprise and single user green wind power energy solutions.

Contact: Hagen Ruff – CEO [email protected] 26100 SW 162nd. Ave., Homestead, FL 33031 USA Phone: +1-619-227-3176 www.chavawind.com

Compliant E-Invoicing Now Available in Brazil
AccountancyRegulation

Compliant E-Invoicing Now Available in Brazil

 

OB10, the global e-Invoicing network that is part of Tungsten Corporation plc, now delivers compliant e-Invoicing in Brazil through its partnership with Comprova, an officially accredited Brazilian certification service provider and digital signature platform.

Brazil is a leader in e-Invoicing with a government mandate and market accustomed to automated invoice technology. In addition to complying with the complexity of tax and e-Invoicing regulations, companies are looking to streamline their invoice processing. The strategic alliance with Comprova enables OB10 to meet the demands of its customers, and deliver compliant e-Invoicing and straight-through processing to businesses operating in Brazil.

“We are delighted to add Brazil to our list of compliant countries and offer unparalleled e-Invoicing services to the biggest market in Latin America,” says Edmund Truell, Group CEO, Tungsten Corporation. “Brazil represents a huge and lucrative opportunity for our customers, many of whom are ready to start transacting with their Brazilian suppliers immediately. We are focused on giving our clients what they want to help them reduce costs and simplify their invoice processing.”

“As the first organisation to offer legal proof for electronic transactions in Brazil, Comprova is thrilled to partner with OB10, one of the world’s leading providers of invoice automation solutions,” says Marcos Nader, President at Comprova. “Combing our local expertise with OB10’s trading network and global customer base will enable even more companies to do business in Brazil and capitalise from the benefits of e-Invoicing.”

Investing in Macro Trading - Investing for the Future
FinanceInfrastructure and Project Finance

Investing in Macro Trading – Investing for the Future

History of Systematic Global Macro

Systematic global macro managers have a track record of producing positive annual returns for more than three decades with low to negative correlations to traditional asset classes and hedge fund strategies. They can also be classified as global macro, managed futures, or trend-following/ CTA. The core methodologies used by systematic global macro programs are well-documented in academic and financial literature.

Why ‘Systematic’ Macro instead of Discretionary?

Systematic trading has significant advantages over discretionary styles. For example, one of the challenges faced by a discretionary trader is the control of emotions during critical points of market activity or personal performance. In contrast, systematic trading programs are emotionless and do not suffer from this issue. Investment decisions are based on decades of historical quantitative research and are carried out in a repeatable, systematic, disciplined manner.

Since they are almost or entirely automated, trading systems are easily scalable and can thus far more readily accommodate new markets or new investor capital. Finally, systematic programs are typically more broadly diversified than discretionary traders, both in the number of markets analysed and in the types of strategies employed.

Potential Benefits
– Portfolio Diversification – since its September 2003 inception, Red Rock’s SGM program has produced -0.08 correlation to stocks and 0.06 correlation to bonds.
– Long or Short exposure to over 70 globally diversified, highly liquid commodity & financial futures markets spanning all market sub-categories: grains, precious and base metals, energies, foods & softs, currencies, interest rates, bonds, and equity indices.
– Opportunity to be on receiving end of ‘Crisis Alpha’ – during the Great Financial Crisis (Sep ’07 – Feb ’09) our Systematic Global Macro program netted clients +75.52% returns, while U.S. stocks lost -48.14%, International stocks lost -51.92%, Commodities lost -43.69%, and Hedge Funds were down -17.01%.
– SMAs offered at client’s choice of broker. Daily pricing, transparency & liquidity.
– Regulated futures exchanges minimise credit risk and allow for standardised contract specifications.
– Margin requirements are generally significantly less than in the cash markets, creating an opportunity to use leverage effectively.

Key Return Drivers
– Futures often get incorrectly labelled as ‘zero-sum’ because for every buyer of a contract, there is a seller – and all contracts eventually expire worthless. While this is true of how futures contracts logistically work, it does not speak to the inherent return that can be mined from successful systematic futures trading. Hedgers, the very large group of market participants who wish to reduce their unknown future price risk, are continually willing to be on the receiving end of losing positions. This risk off-loading provides a risk premium for those skilled enough to be able to regularly capture it.
– Also, as highlighted by Behavioural Finance, many large market participants exhibit ‘herd’ behaviour and sub-optimal psychological biases.

How Red Rock Capital’s Systematic Global Macro Program works: g Basic statistics and quantitative analysis are used to put a framework around repeatable investor behaviour.

– The strategy was designed from the ground up to systematically capture the risk premiums made possible by hedgers and inefficient market participants who exhibit herd behaviour / biases.
– Technical data such as price, volatility, term-structure, and volume are statistically analyzed and trending environments in various markets are identified.
– If legitimate trending behaviour is identified, a long or short position is initiated in a market.
– Only a small amount of account equity is risked on each new position g Exits / stop-losses are pre-determined and aim to reduce risk and volatility.
– Winning trends are kept in the portfolio; losing trades are jettisoned to preserve capital.
– Over time performance has resulted in a payout profile that is similar to being long options; that is, the strategy experiences larger profits when a trend emerges, but relatively small losses when trends fail to materialise or reverse.
Red Rock’s edge, stemming from one of the founder’s training, is that we incorporate Probability Theory in a unique and effective manner that increases the risk-adjusted returns of our Systematic Global Macro program.

Why Red Rock Capital’s Systematic Global Macro?

Almost 13 years of proven net performance to investors – much of it when they needed it most. With all of the uncertainty in the current global marketplace such as China’s currency interventions, Brexit, Bank of Japan NIRP, and FED attempts to continue to normalise rates, high net worth investors would be wise to consider a strategy that is ‘long volatility’ – and that has shown to prosper during times when traditional asset classes have struggled the most.

About Red Rock Capital

Red Rock Capital is a multi-award winning commodity investment management firm. During 2016 Red Rock’s Systematic Global Macro Program will proudly celebrate its 13th anniversary. The firm is lead by Thomas Rollinger, most notably a devoted pupil and former protégé of quantitative hedge fund legend, Edward O. Thorp. Rollinger’s partner is Scott T. Hoffman, the original founder of Red Rock. Given recent developments with the firm, plus increasingly favorable market conditions, Red Rock is especially well-positioned to grow and thrive in the managed futures industry.

Company: Red Rock Capital
Name: Thomas Rollinger
Email: [email protected]
Web Address: www.redrockcapital.com
Address: 5000 Birch Street, Suite 3000 Newport Beach, CA 92660
Telephone: 001 949 648 9506

Investing in Macro Trading - Investing for the Future
FundsHedge

Investing in Macro Trading – Investing for the Future

As a company we focus on a few core areas: economics, research and multi-asset. We are veterans of all recruitment styles, networking to generate references, advertising to create interest, directly contacting candidates and cold-calling businesses to uncover talent.

Our research staff focus on blue-skies analysis and researching teams at places such as the IMF or ECB in the public sector. This broad background work means we are fully prepared before major searches begin at which point the research can be tailored to each project.

Our senior consultants focus on the ‘selection’ stage, luring out top talent and ensuring the quality of shortlists to make certain candidates are fully briefed and motivated by opportunities.

In regards to our clients we are largely referred on by existing customers so the word of mouth is clearly a vital factor behind the success of our business. Run by a former economist and trader we can offer unique insight into candidates, and are unique in parting the sector by ‘macro’ skills rather than by firm type. We can attract established names who can raise capital and further provide alpha driven performance in a variety of environments.

Macro is supposed to be low correlation and offer superior returns, but there are many funds managing money that have failed to prove that. However the top tier continues to do well and inspire investors and the inevitable imitators.

Macro investors are increasingly reliant on quant signals and models, but it has been no real replacement for traditional fundamental analysis and use of expert judgement.

If we take a closer look at the industry currently underperforming firms are threatening the top end fee structure. But there is also increasing impetus on risk adjusted performance metrics which shouldn’t necessarily apply to alternative managers, in some ways these deter the narrowly focused trading strategies which enabled past out performance.

Looking ahead to the future finding consistent performing portfolio managers will be a key challenge as only the top 3rd of the sector have produced credible results.

Company: Arbitrage Search
Name: Chris Apostolou
Email: [email protected]
Web Address: www.arbitrage-search.com
Address: 48 Charlotte Street, London, W1T 2NS
Telephone: 0203 823 4540

Press releases

The 2017 Brazilian Business Press Release

United Kingdom, March 2017– Wealth & Finance magazine have announced the winners of the 2017 Brazilian Business Awards.

Brazil is a country known for its energy and passion. The business industry is one that is unpredictable, but filled with people who are determined to achieve great success. In Brazil, the business owners are a prime example of this, as they are incredibly hardworking and who would do everything they can to make their business successful and help to support their economy.

Therefore, the 2017 Brazilian Business Awards have been created to celebrate the achievements made by those across all business sectors and in all sizes, to give them the recognition that they so truly deserve.

Commenting on the program Maria Brown, Awards Coordinator stated: “The Brazilian Business market can at times can be difficult, and as such it is important to recognise and reward the leading lights, game changers and innovators who are striving towards success and making their business the best it can be. I would like to congratulate every one of my deserving winners and wish them the best of luck going forward.”

To learn more about our deserving award winners and to gain insight into the working practices of the “best of the best”, please visit the Wealth & Finance website (http://www.wealthandfinance-intl.com) where you can access the winners supplement.

ENDS

Notes to editors.

About Wealth & Finance International

Wealth & Finance International is a monthly publication dedicated to delivering high quality informative and up-to-the-minute global business content. It is published by AI Global Media Ltd, a publishing house that has reinvigorated corporate finance news and reporting.

Developed by a highly skilled team of writers, editors, business insiders and regional industry experts, Wealth & Finance International reports from every corner of the globe to give readers the inside track on the need-to-know news and issues affecting banking, finance, regulation, risk and wealth management in their region.

Champion for Public Health
FundsMutual

Champion for Public Health

Steven Jonas of Stony Brook Medicine tells us more about his life.

“My ‘firm’ is located at my home office. I am a life-long writer. In the course of my 40-plus year-long career I have authored, co-authored, edited and co-edited 36 books (see my book-list on Amazon), as well as numerous columns/articles in the lay and professional periodical press. Although technically retired, I have not stopped writing and continue to do so in a variety of venues, on a variety of subjects.”

Recent successes for Steven include the publication of his 36th book, “Ending the ‘Drug War’; Solving the Drug Problem: The Public Health Approach.” The basic argument is that all of what he calls the Recreational Mood-Altering Drugs (the RMADs) — beginning with nicotine and alcohol, the two most harmful of them — should be treated in the same way.

To control/regulate their use so that their negative health effects can be significantly diminished, we should follow the model of one of the most successful non-communicable disease control programs ever, the U.S. National Smoking Cessation Program. Indeed, over time it has reduced the adult cigarette smoking rate in the United States from 45% in 1964 to 18% presently. And guess what? It hasn’t locked up one cigarette smoker. In the meantime, the “drug war” has had virtually no effect on the use of the “illicits” at which it is aimed.

Steven is his own boss. From chief cook and bottle washer to the single author of the firm. He describes the most immediate opportunities and challenges that lie ahead for him.

“The useless, indeed very harmful, ‘Drug War’ is about to be re-intensified by the incoming United States Attorney General. It has been enormously expensive since it was started by President Nixon in 1971, has been ineffective in controlling the use of the RMADs at which it is aimed, and had locked up hundreds of thousands of non-violent drug users.

The current drug policy reform movement focuses primarily on legalising marijuana. My proposal deals with bringing the use of all of the RMADs under control. By using tried-and-true public health methods it can be successful, at much less financial and social cost. I look forward to working with other interested parties, in my own country and internationally, to develop and implement the Public Health Approach to the Drug Problem.


Steven Jonas, MD, MPH, MS, FNYAS Professor Emeritus, Stony Brook Medicine Dept. of Preventive Medicine and the Program in Public Health Stony Brook University c/o 450 Rte. 25A, PO Box 843 East Setauket, NY 11733 email: [email protected] Tel. + 1 631 473 7228 FAX + 1 631 473-5005

Keeping Your Options Open
FundsHedge

Keeping Your Options Open

Third Friday Management, LLP is the investment manager of The Third Friday Total Return Fund, L.P. (the ‘Fund’). The Fund was founded in May 2007 and follows a proprietary rules-based market neutral options strategy designed to generate strong risk-adjusted returns in all market environments. The Fund does not employ leverage and does not take a view on market direction. Excess collateral is invested in a diverse portfolio of income-generating securities.

The Fund sells at-the-money straddles on the S&P 500 Index on a 3-month rolling basis and hedges those positions with out-of-the-money puts and calls. Each straddle is hedged independently and the hedges are adjusted throughout the cycle to maximise profitability or minimise losses. At all times the Fund focuses on protecting capital and insuring
that the first two months of the sequence are fully hedged. The strategy was initially developed in the 1990s and managed in separate accounts. The Fund was started as a family partnership and offered to outside investors for the first time in 2012 when Michael Lewitt joined the General Partner. Since 2012, the Fund has grown significantly while continually working to improve its investment strategy. 

The Fund is available for US investors through a Delaware LP and non- US investors through a Cayman Islands entity. The Fund has never had a money-losing year and was slightly positive in 2008. In addition to strong and consistent nominal returns, the Fund’s risk-adjusted returns are particularly strong with low correlation to the S&P 500, a high Sharpe Ratio, Sortino Ratio and other impressive risk metrics.

A unique aspect of the Fund’s strategy is that the 3-month structure of the options means that rare losing months coincide with widening options premiums. When a losing straddle rolls off, the Fund is in a position to sell a new straddle 3 months out at a wider premium. This sets up the Fund for higher profits and rapid recovery of losses in the following months. As a result, it is very difficult for the Fund to suffer large sustained drawdowns or losses – a unique feature of the strategy that sustains strong risk-adjusted returns over long periods of time.

Michael Lewitt serves as the Chief Investment Officer of the firm and General Partner and Portfolio Manager of the Fund. Mr. Lewitt is also the editor of The Credit Strategist, a financial newsletter that is widely read around the world, and is recognized as one of the few investors to correctly predict the 2001-2 credit crisis and 2008 financial crisis. He is the author of two well-regarded investment books, The Death of Capital (2010) and The Committee to Destroy the World (2016). Mr. Lewitt is a long-time critic of the mainstream financial media and consensus policymaking thinking and uses his writing as an integral part of his investment process to formulate independent views that have produced top tier performance for his clients over the last 25 years.

Company: Third Friday Fund Management
Name: Michael E. Lewitt
Email: [email protected]
Web Address: www.thirdfriday.com
Address: 515 N Flagler Drive, Suite 300, West Palm Beach, FL 33401

Issues

Wealth & Finance March 2017

Click the image below to read this months issue!

Welcome to the March 2017 edition of Wealth & Finance International magazine, which contains a compelling range of features on banking, property, consulting, wealth management and legal issues plus much more.

Virtually all (98%) institutional investors globally have some degree of concern that inflation will reduce the real value of bond yields over the next 12 to 24 months, new research (1) by Managing Partners Group (MPG), the international asset management group, has revealed.

In other news, as this years’ ISA season ticks down its final days, people keen to ‘use it or lose it’ to help protect themselves from Brexit fallout (rising inflation and turbulent stock markets), can choose the Abundance ISA which invests in renewable energy projects typically paying 6% to 9% returns, right up to 11:59pm on April 5th.

I hope you enjoy reading this edition.

Press releases

The 2017 Legal Awards Press Release

United Kingdom, 2017- Wealth & Finance magazine have announced the winners of the 2017 Legal Awards.

The legal industry is a quick paced and exhilarating market, with competition increasing and the effect of technological and economic developments providing a host of challenges for multiple legal practices over the past 12 months.

As an outcome of these challenges, we are introducing the 2017 Legal Awards to showcase the very best of the legal industry. These awards cast a light on the dedication, passion and hard work of those within the legal profession whose knowledge and attentiveness has enriched the broader legal market and supported their clients.

Awards Coordinator Maria Brown commented said: “Legal professionals are increasingly having to adapt to ever evolving legislation and regulation, and, as a result, are having to constantly update their skills. Each of our deserving winners has proved themselves more than capable of rising to this challenge, and it is my pleasure to congratulate them and wish them the best of fortunes for the future.”

To learn more about our deserving award winners and to gain insight into the working practices of the “best of the best”, please visit the Wealth & Finance website (http://www.wealthandfinance-intl.com) where you can access the winners supplement.

ENDS

Notes to editors.

About Wealth & Finance International

Wealth & Finance International is a monthly publication dedicated to delivering high quality informative and up-to-the-minute global business content. It is published by AI Global Media Ltd, a publishing house that has reinvigorated corporate finance news and reporting.

Developed by a highly skilled team of writers, editors, business insiders and regional industry experts, Wealth & Finance International reports from every corner of the globe to give readers the inside track on the need-to-know news and issues affecting banking, finance, regulation, risk and wealth management in their region.

From Online Deal-Sourcing to Due Diligence - The next Level of Investment
Corporate Finance and M&A/DealsFinance

From Online Deal-Sourcing to Due Diligence – The next Level of Investment

Drooms, the virtual data room provider, has recently strengthened its expertise in the field of lifecycle asset management with the acquisition of DealMarket. Here, Jan Hoffmeister tells us more about the purchase and Drooms’ plans to utilise its new-found assets going forward.

Drooms (drooms.com) is the leading provider of secure cloud solutions in Europe. The software specialist allows companies controlled access to confidential corporate data across company boundaries. Confidential business processes such as commercial real estate sales, mergers & acquisitions, NPL transactions and Board communications are handled securely, transparently and efficiently by Drooms. Leading global real estate companies, consultancy firms, law firms and corporations such as the METRO GROUP, Evonik, Morgan Stanley, JLL, JP Morgan, CBRE, Rewe and UBS are among Drooms’ client base.

Co-founder and chairman of Drooms, Jan Hoffmeister, tells us more about the firm and its areas of specialism.

“At Drooms, we specialise in providing data rooms for due diligence processes in transactions. However, we know from experience that due diligence is only one (decisive) aspect of a long and complex process with several parties and a great deal of expertise involved. Failing to prepare properly for due diligence processes can be damaging for both sides of a transaction, can waste time and money for everybody involved, and can eventually even hinder a good deal.”

“With the first virtual data room in Europe in 2001, we contributed to radically transforming the due diligence process. Traditionally, the term ‘data room’ referred to the physical rooms that served as the document repositories where M&A transactions took place. The costs involved were considerable as well as the time required for the whole process. The digitisation of the process meant: faster due diligence, improved efficiency, ability to execute from remote locations. Since then, Drooms is a key player in bringing the newest technology into the due diligence market. With the release of Drooms NXG at the end of 2016, Drooms introduced for the first time artificial intelligence and automation technology into its virtual data room.”

To support investors in preparing for due diligence with the aid of thorough reporting, Drooms decided to acquire DealMarket, a Swiss FinTech company specialising in the management of complex investment projects. Thanks to DealMarket, investors have a tool where they can set up customised deal flows, enabling them to organise and monitor every step of their investment activities until the moment of truth, i.e. due diligence.

Jan explains more about DealMarket and the rationale behind the acquisition.
“Deal making is always a complex process. DealMarket’s Deal Flow management tool makes the investment project a bit less complex by allowing information and data storage on the DealMarket platform. Investors can manage how they view deals, find them and approach them throughout the deal making process.”

“Now, what increases the complexity is often the finalisation process, i.e. the due diligence, which is executed in a virtual data room. The due diligence process can add its difficulties and drag the investment process on. With Drooms’ virtual data room, the documentation management as well as the Q&A happen on one highly safe platform. This saves time since you don’t need to send documents back and forth or upload them to several platforms. Speed is of the essence when it comes to deal making – too often investments and mergers can fall through simply because the process took too long to finish. The Instant Access Technology Drooms uses guarantees documents can be processed and accessed without unnecessary delay in the process.”

Overall, the addition of Drooms helps clients with the latter stages of the investment cycle. While DealMarket helped you choose the right deals, Drooms’ data rooms make it easy to finalise the acquisition.

“With the acquisition of DealMarket we are closing in on our target of managing the entire lifecycle of valuable assets. DealMarket has done some excellent development work in this area, developing an innovative, industry-tailored solution in the process. In strengthening the Drooms team with the experience and expertise of DealMarket employees, we are now in a position to offer even more services from a single source.”

With regards to the future, Jan tells us how Drooms intends to stay one step ahead of the game.
“We have a large team of developers on-site,” he explains. “As the core of our company is its technology, they work every day to make sure Drooms NXG is a carrier of the newest technological developments. For instance, we have simplified one of the most demanding and at the same time crucial tasks within due diligence: the Q&A process. Thanks to our Q&A tool, customers can set up even the most sophisticated process completely by themselves. A feature that legal experts especially appreciate is the Findings Manager, the module allowing for the assessment of risks and opportunities inherent to a deal.

The feature is based on powerful smart content analytics. And our developers work to offer the greatest functionalities to speed up and improve a deal. The bottom line is this: if intelligent machines can help improve due diligence, then all the stakeholders will be able to spend their time executing strategic and meaningful tasks.”

Company: Drooms
Name: Jan Hoffmeister
Email: [email protected]
Web Address: www.drooms.com