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Edita installs new wafer line with investment cost of LE 106M – Egypttoday

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Edita Food Industries – Company’s Website

CAIRO – 7 February 2021: Edita Food Industries S.A.E announced Sunday the installation of a new wafer line at its E08 facility with an investment cost of LE 106 million and a theoretical capacity of 6,400 tons/annum.

 

According to the company’s statement, this line will enable it to double its wafer production capacity compared to the start of 2020.

 

“This line will be utilized to produce the company’s newest product in the coated wafer category, Freska Block,” it added.

 

 

Edita Food Industries achieved profits of LE 214.53 million during the first nine months of 2020, compared to profits of LE 285.23 million in the same period of 2019, taking into account the minority rights

 

The company’s sales declined during the period to LE 2.79 billion, compared to sales of LE 2.93 billion pounds in the same period of 2019.

 

As for standalone results, the company’s profits rose to LE 253.69 million, up from LE 252.13 million in the comparative period of 2019.

 

Edita operates within the Food, Beverage sector focusing on Packaged Foods and Meats.

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Why interest in ESG investing is set to explode – BNN

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If there’s any silver lining to come out of the COVID-19 pandemic, it’s that an increasing number of investors are thinking more carefully about the impact their holdings are having on the world.

In 2020, inflows into Canadian-based environmental, social and governance (ESG) funds topped $3.2 billion, while total net assets in ESG funds topped $22 billion, a 37% increase over the year before. The company also found that 12.3% of global asset managers have put a greater importance on ESG considerations since the pandemic began[1].

While interest in ESG investing was on the rise before the COVID-19 pandemic, people are paying even more attention to everything from climate change to the treatment of employees to pressing social causes. Combined with a push from CEOs of major corporations to identify ESG risks within their own businesses, and with more regulations – in Europe, but soon elsewhere – around sustainable finance-related disclosure requirements, interest in ESG will likely continue well into the future, says Priti Shokeen, head of ESG Research and Engagement at TD Asset Management Inc.(TDAM).

“There’s an ever-growing awareness about systemic risks that we are facing as a society such as our rapidly changing climate and social inequalities, and an unwillingness to keep the status quo, whether that’s through our personal values or through our investments.” she says. “The industry also reached an inflection point over the last two- three years with maturing ESG strategies and funds showing that ESG does not take away from investment performance. The COVID-19 pandemic was the first true test of that and ESG showed potential for downside protection.”

ESG’s evolution

Currently, assets under management (AUM) in Canadian-listed ESG-focused funds account for less than 1% of AUM in all Canadian funds – $22 billion compared to about $2 trillion, according to ISS – but that number could see a dramatic increase over the next several years.

For one thing, the market continues to evolve from its traditional do-no-harm focus, which mainly involved companies taking action against issues that could hurt their business, to one that’s more purpose focused, where doing something good – for communities, customers and the planet at large – drives business decisions.

With more people wanting to understand how companies they are investing in, are being responsible – that may be reducing their carbon footprint or offering staff at least minimum wage – businesses will need to be more transparent about their ESG risks, says Shokeen.

“Companies will be disclosing ESG risks more systematically, and that information will help people make better investment decisions,” she says.

It also helps that millennials are more ESG minded. Morgan Stanley found that while the interest in sustainable investing among all investors climbed to 85% in 2019 from 71% in 2015, it jumped to 95% in 2019 from 84% in 2015 among millennials[2]. That’s important because this generation will inherit billions of dollars from their boomer parents over the next decade.

Given their interest in ESG, much of that money will go into ESG-related funds and to the advisors who embrace sustainable investing.   

“There is a greater willingness among millennials and increasingly among high net worth investors to act through their spending and investing,” notes Shokeen. “Advisors need to educate themselves so they can talk knowledgeably about these products, especially given the proliferation of ESG.”

More options for investors

As interest in ESG increases, so too will the kinds of products investors can buy. While a number of ESG-focused mutual funds have been created over the years, the ESG ETF market is one area that many investors and advisors are now focused on. ETFs by their nature are low-cost, highly liquid and easy to buy, which is ideal for someone who wants to build any portfolio, but especially one that has a particular focus.

Over the last few years, a number of ESG ETFs have come to market globally with different approaches – some focus on gender parity among executives or technologies that advance renewable energy, others simply remove fossil fuels from existing funds. TDAM, which has long been implementing ESG practices into its various mutual funds, has recently launched three ETFs that incorporate a variety of ESG approaches into one investment vehicle.

The three funds – TD Morningstar ESG Canada Equity Index ETF (TMEC), TD Morningstar ESG U.S. Equity Index ETF (TMEU) and TD Morningstar ESG International Equity Index ETF (TMEI) – give investors exposure to companies with high ESG ratings across a broad number of factors, including alignment of management compensation with shareholder returns, health and safety issues, environmental impact and more. The funds, which follow indexes designed by Morningstar, using ESG ratings provided by Sustainalytics, a Morningstar Company, also stay away from tobacco, weapons and gambling operations, as well as those companies that have been embroiled in controversies, such as bribery, corruption and human rights violations.

“With these ETFs, investors can access best-in-class ESG companies and also closely track the broad parent index,” she says. “The main idea is to provide a low-cost solution, that provides market-like return while having positive ESG exposure and aligns with your values”

As more companies take ESG into account, and as a greater number of investors seek out more responsible products, there may come a point when ESG will be fully integrated into investing mindset, however, says Shokeen, “the levels of integration within companies, and investment process will provide room for differentiated ESG investment strategies.”

Until then, Shokeen thinks that over the next five to 10 years, ESG related disclosures will remain a focus and we’ll see an increasing push towards standardization, while responsible investing will go even more mainstream.

“At a simple level, this is common sense,” she says. “Companies that negatively impact their environment or people will get penalized, while the ones who take it seriously will get more attention from investors.”

The information contained herein has been provided by TD Asset Management Inc. and is for information purposes only. The information has been drawn from sources believed to be reliable. The information does not provide financial, legal, tax or investment advice. Particular investment, tax, or trading strategies should be evaluated relative to each individual’s objectives and risk tolerance. Certain statements in this document may contain forward-looking statements (“FLS”) that are predictive in nature and may include words such as “expects”, “anticipates”, “intends”, “believes”, “estimates” and similar forward-looking expressions or negative versions thereof. FLS are based on current expectations and projections about future general economic, political and relevant market factors, such as interest and foreign exchange rates, equity and capital markets, the general business environment, assuming no changes to tax or other laws or government regulation or catastrophic events. Expectations and projections about future events are inherently subject to risks and uncertainties, which may be unforeseeable and may be incorrect in the future. FLS are not guarantees of future performance. Actual events could differ materially from those expressed or implied in any FLS. A number of important factors including those factors set out above can contribute to these digressions. You should avoid placing any reliance on FLS. Commissions, management fees and expenses all may be associated with investments in ETFs. Please read the prospectus and ETF Facts before investing. ETFs are not guaranteed, their values change frequently, and past performance may not be repeated. ETF units are bought and sold at market price on a stock exchange and brokerage commissions will reduce returns. TD ETFs are managed by TD Asset Management Inc., a wholly-owned subsidiary of The Toronto-Dominion Bank. Morningstar® Canada Sustainability Extended IndexSM, Morningstar® US Sustainability Extended IndexSM and Morningstar® Developed Markets ex-North America Sustainability Extended IndexSM are service marks of Morningstar, Inc. and have been licensed for use for certain purposes by TD Asset Management Inc. The TD Morningstar ESG Canada Equity Index ETF, TD Morningstar ESG International Equity Index ETF and TD Morningstar ESG U.S. Equity Index ETF (collectively, the “TD ESG ETFs”) are not sponsored, endorsed, sold or promoted by Morningstar, and Morningstar makes no representation regarding the advisability of investing in the TD ESG ETFs. ®©2020 Morningstar is a registered mark of Morningstar Research Inc. All rights reserved. All trademarks are the property of their respective owners. ®The TD logo and other trademarks are the property of The Toronto-Dominion Bank or its subsidiaries.

1 SIMFUND Canada, ©Institutional Shareholder Services Canada Inc. (Investor Economics, A Division of ISS Market Intelligence) 2021. All rights reserved. 
2 Morgan Stanley. Sustainable Signals: Individual Investor Interest Driven by Impact, Conviction and Choice

 

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The truth about Warren Buffett’s investment track record : Morning Brief – Yahoo Canada Finance

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Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe

Monday, March 1, 2021

Warren Buffett has had years of underperformance and a lot of bad stock picks

Warren Buffett, the billionaire head of Berkshire Hathaway (BRK-A, BRK-B), will probably go down as the greatest investor in history.

For more than half a century, he’s been responsible for the performance of Berkshire and its legendary stock portfolio, which have long track records of market-beating returns.

But here’s what every serious investor needs to know about Buffett: despite above-average performance, there have been many years Berkshire underperformed the market and there have been many individual stock trades that have lost mountains of money.

Long-term outperformance comes with many years of underperformance

Warren Buffett’s annual letter to Berkshire shareholders was released on Saturday, and as usual the first page compares the annual performance of Berkshire against that of the S&P 500 (^GSPC) since 1965.*

Berkshire shares have seen an average annual return of 20.0% compared to the S&P 500’s 10.2% gain during that period.

But as you can see from the individual data points, there are many years when the S&P outperformed Berkshire.

A good long-term investment strategy will not produce desired returns year in and year out. Rather, it’ll make progress toward some long-term goal over time as fat years more than offset lean years.

“Whatever today’s figures, Charlie Munger, my long-time partner, and I firmly believe that, over time, Berkshire’s capital gains from its investment holdings will be substantial,” Buffett wrote on Saturday.

Furthermore, it’s worth noting that neither Berkshire nor the S&P saw many years where they delivered an average return. Most years either saw massive gains or very disappointing performance. Average almost never happens in markets.

Great stock pickers pick a lot of losers

And just because Buffett may be one of the greatest stock pickers in history doesn’t mean all of his stock picks have been winners over time.

Just a quick glance at Berkshire’s current top 15 stock investments reveals plenty of positions that are held below cost (i.e. they’ve lost money).

Berkshire's top 15 equity holdings includes winners and losers. (Berkshire Hathaway)

Berkshire’s top 15 equity holdings includes winners and losers. (Berkshire Hathaway)

To his credit, few people are more vocal about Buffett’s mistakes than Buffett himself.

In 2020, Berkshire booked a $9.8 billion write-down on those assets. One massive “mistake”he discussed in his annual letter was Precision Castparts (PCC), a once publicly-traded company that Berkshire acquired outright in 2016 in a $37 billion deal.

“I paid too much for the company,” Buffett wrote. “I believe I was right in concluding that PCC would, over time, earn good returns on the net tangible assets deployed in its operations. I was wrong, however, in judging the average amount of future earnings and, consequently, wrong in my calculation of the proper price to pay for the business.”

“PCC is far from my first error of that sort,” he added. “But it’s a big one.”

It’s not hard to find times Buffett lost money on a trade or missed out on a big opportunity. Just a year ago, Berkshire dumped airline stocks near their lows just before they roared back along with the other reopening trades.

But a successful investor shouldn’t be judged by his or her mistakes. Rather, they should be judged by the degree to which they are able to achieve their long-term goals.

This goes for all investors who will repeatedly buy too late, sell too early, and miss out on big opportunities that become obvious in hindsight.

So if you’re making a lot of mistakes but have a sound strategy and the discipline to stick to it during periods of underperformance, then maybe you too can be as imperfectly successful as Warren Buffett.

*Since 2019, Buffett has presented Berkshire’s performance as measured by market value. Prior to that, it was book value. Buffett made the change because he felt market value was going to better reflect the performance of the company. For our purposes, all you need to know is that both Berkshire’s book value and market value have smoked the S&P 500 over that half-century.

By Sam Ro, managing editor. Follow him at @SamRo

What to know today

Economy

  • 9:45 a.m. ET: Markit US Manufacturing PMI, February final (58.5 expected, 58.5 in prior print)

  • 10:00 a.m. ET: Construction spending month-over-month, January, (0.8% expected, 1.0% in December)

  • 10:00 a.m. ET: ISM Manufacturing index, February (58.6 expected, 58.7 in January)

ALSO: February jobs report, Zoom earnings: What to know in the week ahead

Earnings

Pre-market

Post-market

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  • 4:05 p.m. ET: Novavax (NVAX) is expected to report an adjusted loss of $2.24 per share on revenue of $202.60 million

  • 4:05 p.m. ET: Nio (NIO) is expected to report an adjusted loss of $3.77 per share on revenue of $16.38 billion

  • After market close: Clover Health Investments (CLOV) is expected to report an adjusted loss of 86 cents per share on revenue of $167.00 million

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Anthem Entertainment Attracts New Equity Investment | FYIMusicNews – FYI Music News

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 The Ontario Teachers’ Pension Plan Board has increased its equity investment in Canadian-based rights company Anthem Entertainment “in order to facilitate the business’s strategy for continued growth.” In addition, the company has announced completion of a new revolving credit facility of $400 million plus a $150 million incremental facility that allows it to expand the maximum amount allowed on its line of credit.

Anthem CEO Helen Murphy stated in a media release that “I am grateful to Ontario Teachers’ for their confidence in our strategy and for their continued support.”

Continuing, she added: “Over the past few years, we have successfully expanded through a strong combination of organic growth and acquisitions, enabling us to further diversify our service offerings and repertoire base, making us more attractive to artists, songwriters, composers, and content producers. 

Again, from the announcement: “We believe that with this additional equity investment and our new credit facility we are well positioned to make the most of the opportunities across our music publishing, recorded music, production music, and film and television services businesses. We are also thankful to the banks in our syndicate, many of whom have been long time supporters of Anthem Entertainment throughout our 17-year history.”

 In September 2019, Anthem acquired 50% of Nashville based Wrensong led by music row leader Ree Guyer. The deal also included a co-venture with Wrensong Publishing Corp. that includes a catalogue of over twenty #1 country hits, including Old Dominion’s Make It Sweet, No Such Thing As A Broken Heart, Hotel Key, #1 hits by Dierks Bentley, The Band Perry, Blake Shelton, Carrie Underwood, and Jason Aldean.

In October of the same year, Anthem has acquired a catalogue of songs from Boardwalk Music Group, which were co-written by songwriter Eric Frederic (Ricky Reed). The catalogue includes some of the world’s biggest hits by artists such as Halsey, Leon Bridges, Lizzo, and Meghan Trainor.  The LA-based publishing and artist development company was founded by songwriter and creative executive Evan “Kidd” Bogart, the son of Neil Bogart of Casablanca Records fame.

Then in November 2019, Anthem acquired a catalogue of songs from songwriter and producer Doc McKinney. Key assets included The Weeknd’s Wicked Games, Starboy, Die For You, and Pray For Me.

In February 2020, Gord Bamford extended his worldwide publishing deal with the Anthem Entertainment. Anthem also acquired Bamford’s masters from Cache Entertainment including all albums from 2001’s God’s Green Earth, to Diamonds In A Whisky Glass (due out later this year). Bamford is the two-time winner of the CMA Global Country Artist Award, with 25 Top 10 singles in Canada including the No. 1 hits When Your Lips Are So Close and Dive Bar.

Founded in 2004 as Ole, the Ontario Teachers Pension Fund has been a key investor in the Canadian rights management company. It expanded its position in acquiring company co-founder Robert Ott’s position in the company in 2018 and now holds a controlling interest in the privately held firm.

In 2015, the company acquired all the rights to the Anthem Entertainment brand, including Anthem Film & Television Productions, and the recorded music catalogue highlighted by recordings by Rush as well as Max Webster, Big Wreck, Ian Thornley, Steven Page, The Tea Party, and Max Webster. The company rebranded itself as Anthem Entertainment in 2019

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