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Aberdeen Asia-Pacific Income Investment Company Limited Announces Monthly Distribution And Estimated Earnings – Canada NewsWire

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TORONTO, Oct. 9, 2020 /CNW/ — Aberdeen Asia-Pacific Income Investment Company Limited (TSX: FAP) (the “Company”), a closed-end investment company trading on the Toronto Stock Exchange, announced today that it will pay a monthly distribution of CAD 2.25 cents per ordinary share on October 30, 2020 to all ordinary shareholders of record as of October 19, 2020 (ex-dividend date October 16, 2020).

The policy of the Company’s Board of Directors is to maintain a stable monthly distribution out of net investment income and realized capital gains supplemented with paid-in capital as required. This policy is subject to regular review at the Board’s quarterly meetings.

The following table sets forth the estimated amounts and the sources of the distributions. The figures in the table below have been computed based on international financial reporting standards. The table includes estimated amounts and percentages for the distribution to be paid on October 30, 2020 as well as the estimated cumulative distributions declared fiscal year to date (11/01/2019 – 09/30/2020), from the following sources: net investment income; net realized gains; return of capital; and return of par.  The final composition of the distributions is subject to change and may be impacted by future income, expenses and realized gains and losses on securities and currencies. Although a portion of any distribution may be recorded as a return of capital, the full amount of the distribution (other than a return of par) will be foreign income for Canadian income tax purposes.


Estimated Amounts of Current Monthly Distribution per share (C$)

Estimated Amounts of Current Monthly Distribution per share (%)

Estimated Amounts of Fiscal Year to Date Cumulative Distributions per share (C$)

Estimated Amounts of Fiscal Year to Date Cumulative Distributions per share (%)

Net Investment Income

$0.0194

86%

$0.2322

86%

Net Realized Gains

$0.0031

14%

$0.0378

14%

Return of Capital

Return of Par

Total (per common share)

$0.0225

100%

$0.2700

100%

Shareholders should not draw any conclusions about the Company’s investment performance from the amount of the Company’s current distribution.

The amounts and sources of distributions set out above are estimates only and are not being provided for tax reporting purposes. The final determination of the source of all distributions made in 2020 will be made after the year-ended 2020. The actual amounts and sources of the amounts of distributions for tax reporting purposes will depend upon the Company’s results during the remainder of the calendar year and are subject to any changes to applicable tax regulations. Information for tax reporting purposes will be provided to the Company’s shareholders on a Form T5 in February of 2021.

The Company previously announced that the Cook Islands Parliament recently passed legislation that removes the tax exemptions for Cook Islands international companies, like the Company, subjecting these companies to the Cook Islands company tax regime and a tax on company profit of 20%. Under grandfathering provisions, there is no immediate impact on the Company and the Company will not be subject to the new rules until January 1, 2022. The precise impact of the rule change is still being assessed and it is understood that the Cook Islands will be undertaking a thorough review of its taxation system including the taxation of company income.  The Manager is monitoring developments and will evaluate options to mitigate the impact of the rule change.

Information in this press release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws. Such forward-looking information reflects the Investment Manager’s beliefs, estimates and opinion regarding the Company’s future financial performance, projects and opportunities and market conditions as at today’s date. Implicit in this information, particularly in respect of future financial performance and condition of the Company, are factors and assumptions which, although considered reasonable by the Company at the time of preparation, may prove to be incorrect. Shareholders are cautioned that actual results are subject to a number of risks and uncertainties, including general economic and market factors, including credit, currency, political and interest-rate risks and could differ materially from what is currently expected. The Company has no specific intention of updating any forward-looking information whether as a result of new information, future events or otherwise, except as required by law.

Aberdeen Standard Investments (“ASI”) is the marketing name in Canada for Aberdeen Standard Investments (Canada) Limited (“ASI Canada”), Aberdeen Standard Investments Luxembourg SA, Standard Life Investments Private Capital Ltd, SL Capital Partners LLP, Standard Life Investments Limited, Aberdeen Standard Alternative Fund Limited, and Aberdeen Capital Management LLC. ASI Canada is the administrator of the Company and is registered as an investment fund manager in Canada where required. ASI Canada is a wholly-owned subsidiary of Aberdeen Standard Investments Inc., the sub-administrator of the Company.

Closed-end funds are traded on the secondary market through one of the stock exchanges. The Company’s investment return and principal value will fluctuate so that an investor’s shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the Company. There is no assurance that the Company will achieve its investment objective. Past performance does not guarantee future results.

If you wish to receive this information electronically, please contact [email protected]

aberdeenfap.com

SOURCE Aberdeen Asia-Pacific Income Investment Company Limited

For further information: Aberdeen Standard Investments Inc., Investor Relations, 800-992-6341, [email protected], https://www.aberdeenstandard.com

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Stone Investment Group Limited Completes Transaction with Return on Innovation Advisors Ltd. – GlobeNewswire

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TORONTO , Oct. 19, 2020 (GLOBE NEWSWIRE) — Stone Investment Group Limited (“SIG”), confirmed the completion of the previously announced transaction between SIG and Return on Innovation Advisors Ltd., the manager of Return On Innovation Fund Inc. (the “ROI Fund”), whereby the portfolio of the ROI Fund was liquidated to cash and transferred to the Stone Growth Fund (the “Growth Fund”) in exchange for units of the Growth Fund Series R and shareholders of the ROI Fund became unitholders of the Growth Fund. The exchange ratio determines the number of units the Growth Fund will issue to shareholders of the ROI Fund for every 1 share held in the ROI Fund. The exchange ratio was based on the closing net asset value per share as of October 16, 2020 of each Series of the ROI Fund and closing net asset value per unit for the Growth Fund Series R as of October 16, 2020 as follows:

ROI FundNet Asset Value Per Share for
ROI Fund Series 1, 2, 3 and 4
Net Asset Value Per Unit of
the Growth Fund Series R
Exchange Ratio
ROI Fund – Series 1$7.4014$10.00000.7401
ROI Fund – Series 2$7.1865$10.00000.7187
ROI Fund – Series 3$7.4859$10.00000.7486
ROI Fund – Series 4$6.2598$10.00000.6260

Stone Asset Management (“SAM”) is a wholly owned subsidiary of SIG and is the trustee, manager and portfolio advisor for the Growth Fund. The Growth Fund is a mutual fund trust, and one of a family of mutual funds offered by SAM (the “Stone Funds”). The Stone Funds are distributed by prospectus throughout Canada by brokers and mutual fund dealers. SAM’s expertise ranges from servicing Canada’s retail investors and working with their financial advisors to the complexities of working directly with Family Offices, endowments and foundations. At Stone, we want our investors to sleep well, knowing they’ll have the financial resources to live well.

For more information:
Stone Investment Group Limited
Jason Stone, Investor Relations
T 647 338 1691
E jasons@stoneco.com
www.stoneco.com

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WENDEL: Tsebo's shareholders transfer their shares to the investment arms of its senior lenders in a consensual transaction – GlobeNewswire

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Tsebo’s shareholders transfer their shares to the investment arms of its senior lenders in a consensual transaction

Wendel invested in Tsebo in 2017 and contributed further capital to the company in 2019 to strengthen its balance sheet.

The transaction will also result in the settlement of a guarantee granted in 2017 in connection with the investment by B-BBEE partners in Tsebo. The transfer of the controlling shareholding to a South African consortium of financial investors and management ensures that Tsebo’s balance sheet is strengthened, it’s strong B-BBEE credentials are preserved and the business is well-positioned to grow into the future.

Wendel’s financial statements and Net Asset Value as of June 30, 2020 already reflect these transactions.

The transactions are subject to finalization of the legal documentation and to South African Reserve Bank approval and should be closed in the coming months.

About Wendel

Wendel is one of Europe’s leading listed investment firms. The Group invests in Europe, North America and Africa in companies which are leaders in their field, such as Bureau Veritas, Cromology, Stahl, IHS, Constantia Flexibles and Crisis Prevention Institute. Wendel plays an active role as a controlling or significant shareholder in these companies. We implement long-term development strategies, which involve boosting growth and margins of companies so as to enhance their leading market positions.

Wendel is listed on Eurolist by Euronext Paris.

Standard & Poor’s ratings: Long-term: BBB, stable outlook – Short-term: A-2 since January 25, 2019

Moody’s ratings: Long-term: Baa2, stable outlook – Short-term: P-2 since September 5, 2018

Wendel is the Founding Sponsor of Centre Pompidou-Metz. In recognition of its long-term patronage of the arts, Wendel received the distinction of “Grand Mécène de la Culture” in 2012.

For more information: wendelgroup.com

Follow us on Twitter @WendelGroup

Agenda

11.04.2020

2020 Investor Day / Presentation of NAV as of September 30, 2020, and Q3 2020 trading update (publication post-market release on 11/03/2020).

03.18.2021

2020 Full Year Results – Publication of NAV as of December 31, 2020 (pre-market release).

04.28.2021

Q1 2021 Trading update – Publication of NAV as of March 31, 2021 (pre-market release).

06.03.2021

Annual General Meeting

07.29.2021

H1 2021 results – Publication of NAV as of June 30, 2021, and condensed Half-Year consolidated financial statements (pre-market release).

10.28.2021

Q3 2021 Trading update – Publication of NAV as of September 30, 2021 (pre-market release).

12.02.2021

2021 Investor Day – Meeting to take place in the morning

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Manulife Investment Management named to PRI Leaders' Group 2020 in recognition of 'Cutting Edge' Responsible Investment Practices – Canada NewsWire

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Releases annual Sustainable and Responsible Investing Report outlining ESG initiatives across investment teams

C$ unless otherwise stated
TSX/NYSE/PSE: MFC  SEHK: 945

TORONTO and BOSTON, Oct. 19, 2020 /CNW/ – As sustainable investing continues to drive interest across the globe, Manulife Investment Management announced it was recently recognized in the Principles for Responsible Investment’s PRI Leaders’ Group  2020, a 10-year initiative honoring signatories at the cutting edge of responsible investment. This year, 36 signatories, including Manulife Investment Management, were recognized for demonstrating responsible investment excellence in climate reporting throughout their organization and portfolios.

“We are grateful to the PRI for recognizing our efforts in integrating climate data and analysis into our portfolios and pleased to detail our extensive sustainability initiatives across our investment teams in our Sustainable and Responsible Investing Report,” said Paul Lorentz, President and CEO, Manulife Investment Management. “Sustainability is a natural fit for our organization, given our traditional focus on risk management and investment research, and our history of sustainably operating real assets such as timber and farmland. Today, we offer a number of ways for investors to align their investments with their values, and our commitment to ESG investing deepens every year.”

Manulife Investment Management showcases its ongoing commitment to ESG analysis, research, and integration with its second annual Sustainable and Responsible Investing Report. Released today, the report covers activities in both public and private markets in sustainable asset management and showcases a holistic view of Manulife Investment Management’s sustainability-focused research capabilities, engagement activities, and asset ownership practices. The document also demonstrates concrete steps taken at the firm throughout 2019 to integrate sustainability considerations into investment decision-making. The Sustainable and Responsible Investing Report outlines Manulife Investment Management’s key areas of sustainability focus and metrics of success. Focus areas include strong governance, ESG integration, active and responsible ownership, and global collaboration across numerous platforms for broader industry effectiveness.

Highlights from private markets in 2019, pertaining to real estate, private equity and infrastructure, included formalizing a robust governance structure for its sustainable investing program, actively participating in industry associations such as Leading Harvest Sustainable Farmland Management Standard and improving Real Estate GRESB scores, earning a “Green Star” ranking in six submissions. In public markets, Manulife Investment Management advanced ESG integration and active engagement across its equity and fixed-income capabilities. As a result, Manulife Investment Management won the 2019 SDG Canadian Leadership Awards for large enterprise – Canada’s premier award for organizations and businesses doing exceptional work to integrate and advance the 17 Sustainable and Development Goals of the United Nations Global Compact.

“We’re proud of the progress we’ve made driving our sustainable and responsible investing at Manulife Investment Management as we strive to lead the industry in ESG integration practices,” said Christopher P. Conkey, CFA, global head of public markets, Manulife Investment Management. “For investors, focusing on sustainability is more important now than it has ever been; the world is running up against the limits of natural capital, which increases social and economic risks in virtually every corner of the capital markets. Sustainability and resilience are central to our clients’ objectives, to the broader set of stakeholders with whom we work, and to the communities whose lives are touched by our capital allocation decisions.”

“Responsible stewardship of our clients’ capital resides at the core of our business and culture,” added Stephen J. Blewitt, global head of private markets, Manulife Investment Management. “As sustainable investing continues to migrate from the margins of our industry to its mainstream, investor demand drives that shift. By doing the right things for the right reasons, we also aspire to be a partner of choice for clients who recognize that ESG considerations are often tied to economic ones.”

Inaugural TCFD report

As part of its 2019 Sustainable and Responsible Investing report, Manulife Investment Management included its inaugural TCFD report—which follows the voluntary disclosure framework developed by the Financial Stability Board’s Taskforce for Climate-related Financial Disclosure (TCFD). The framework sets out how businesses should disclose climate-related financial risks and opportunities within the context of their existing disclosure requirements. For Manulife Investment Management, this report offers details on the firm’s approach to climate-related sustainability governance, risk management, strategy for managing climate-related risks and opportunities, and the metrics used to manage and monitor alignment with climate-related goals.

Top Scores on PRI Assessment

Also contained in the 2019 report is Manulife Investment Management’s recently announced Principles for Responsible Investment (PRI) assessment results and rationale. Scores for 2019 included:

  • A+ for strategy and governance  
  • A+ for equity integration  
  • A+ for SSA fixed-income integration (sovereign, supranational, and agency debt)   
  • A for real estate
  • A for equity active ownership
  • A for fixed income (corporate financial, corporate non-financial, and securitized)  
  • B for infrastructure (this asset class was submitted for the first time)
  • B for private equity (this asset class was submitted for the first time)

Click here for more information about the Manulife Investment Management 2019 Sustainable and Responsible Investing Report.

About Manulife Investment Management
Manulife Investment Management is the global wealth and asset management segment of Manulife Financial Corporation. We draw on more than a century of financial stewardship and the full resources of our parent company to serve individuals, institutions, and retirement plan members worldwide. Headquartered in Toronto, our leading capabilities in public and private markets are strengthened by an investment footprint that spans 17 countries and territories. We complement these capabilities by providing access to a network of unaffiliated asset managers from around the world. We’re committed to investing responsibly across our businesses. We develop innovative global frameworks for sustainable investing, collaboratively engage with companies in our securities portfolios, and maintain a high standard of stewardship where we own and operate assets, and we believe in supporting financial well-being through our workplace retirement plans. Today, plan sponsors around the world rely on our retirement plan administration and investment expertise to help their employees plan for, save for, and live a better retirement. 

As of June 30, 2020, Manulife Investment Management had CAD$900 billion (US$660 billion) in assets under management and administration. Not all offerings are available in all jurisdictions. For additional information, please visit manulifeim.com.

SOURCE Manulife Investment Management

For further information: Media Contacts: Giovana Chichito, Manulife Investment Management Canada, 647-702-4707, [email protected]; Elizabeth Bartlett, Manulife Investment Management US and Europe, 857-210-2286, [email protected]; Carl Wong, Manulife Investment Management Asia, 852 2510 3180, [email protected]

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https://www.manulifeim.com/

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