Investment

TBM earns more than $500K on investment return – CollingwoodToday.ca

Published

3 weeks ago

June 1, 2022

Megan Johnson

The investment portfolio of the Town of The Blue Mountains returned $585,685 in interest earnings in 2021.

Town staff delivered the municipal investment report at council’s committee of the whole meeting on May 31.

By the end of 2021, the town had $72.8 million in the bank, up $5.7 million over 2020. The town saw an increase in its reserves and reserve funds, mainly due to delayed capital projects.

The money earned $582,685 in 2021, down from $1,147,159 in 2020. Staff said the drop in investment year-over-year was due to lower returns caused by COVID-19.

Town staff told council that capital projects that were expected in 2021 are now being completed this year and the total amount in reserve would go down over the course of the year.

“The town is holding quite a bit of funds. It seems to be a little low,” Mayor Alar Soever said of the investment returns. “I know we don’t want to get into high risk investments.”

Soever suggested staff should look at projecting the town’s cash floor into the future, which could open an opportunity to lock the town’s reserves into term deposits that might have a higher rate of return.

The staff report on the topic projected that interest returns would increase.

“Over the past year, the High Interest Savings Account (HISA) with the ONE Investment Fund has been the best short term investment for the town, which ended the year at 0.715%. This rate was consistent from June to December and was up from the January rate of 0.165%,” Accounting Analyst Breanna Agnew stated in her report.

“The 2022 outlook on interest revenue from investments is an improvement over the two previous years. For 2022, staff have moved investment instruments into a HISA with One Fund at a rate of 3% – with a maximum deposit of $25 million. The HISA rate in January 2021 was 0.165% and at December 2021 reached 0.715%. Other short-term investments are also displaying improved rates for 2022.”

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Investment

China proposes rules to regulate private pension investment via mutual funds – Reuters.com

Published

17 hours ago

June 25, 2022

Megan Johnson

A Chinese national flag flutters near the building of China Securities Regulatory Commission (CSRC) at the Financial Street area in Beijing, China July 16, 2020. REUTERS/Tingshu Wang/Files

SHANGHAI, June 25 (Reuters) – China’s securities regulator proposed rules to regulate private pension investment via mutual funds, setting the criteria for qualified products and sales agents under a scheme that will channel fresh savings into the country’s capital markets.

The draft rules, published by the China Securities Regulatory Commission (CSRC) late on Friday, came after Beijing in April launched a milestone private pension scheme to tackle challenges of aging population. read more

Under the scheme, eligible Chinese citizens can buy mutual funds, savings deposits and insurance products via their own individual pension accounts, potentially boosting a pension market that has lured foreign asset managers including Fidelity International and BlackRock.

The proposed rules “have set a relatively high bar for products and institutions, and are designed to ensure safety of pension fund investment and protect investors’ interest,” the CSRC said in a statement on its website.

Initially, pension target funds with at least 50 million yuan ($7.48 million) of assets over the past four quarters are eligible under the pilot pension scheme, the CSRC said.

Other types of retail funds with clear investment strategies and good long-term track records will be gradually added to the eligibility list as the scheme expands, the CSRC said.

Currently, there are 91 pension target funds that meet the CSRC’s criteria, according to TF Securities.

In addition, fund managers and sales agents participating in private pension business must set up internal control systems, adopt long-term incentives, and ensure independent operation of the pension assets, according to the rules.

Independent consultancies estimate China’s private pension market will grow to at least $1.7 trillion by 2025, from $300 billion currently.

In 20 years, 28% of China’s population will be more than 60 years old, up from 10% today, making it one of the most rapidly-aging populations in the world, according to the World Health Organization.

($1 = 6.6878 Chinese yuan renminbi)

Reporting by Samuel Shen and Brenda Goh
Editing by Nick Zieminski

Our Standards: The Thomson Reuters Trust Principles.

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Investment

Not gold or bank FD, Jefferies finds this asset as top investment by Indians | Mint – Mint

Published

1 day ago

June 24, 2022

Megan Johnson

Amid soaring inflation and slowdown worries, investors are busy finding out save haven for their money. While some are batting in favour of gold, some investors are favouring debt instruments for short term like bank fixed deposits (FDs) and other deposits. But, if we go by the Jefferies findings, around half of the Indian household savings in March 2022 has been invested in real estate properties whereas bank deposits and gold are distant second and third most preferred asset investment options among Indian households.

As per the Jefferies findings, out of $ 10.7 trillion Indian households assets in March 2022, whopping 49.4 per cent have been invested in real estate properties whereas 15.10 per cent went to band deposits 15 per cent of the Indian households savings were invested in gold. Impact of Covid-19 pandemic was also visible in this Jefferies report as Indian households invested 6.20 per cent of their net savings in insurance funds and it was fourth most preferred investment option by Indians.

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Photo: Courtesy Jefferies

Provident funds and pension is at 5th spot after receiving 5.70 per cent of $10.70 trillion Indian households savings in March 2022. Despite heavy FIIs selling at Indian equity markets, DIIs have remained net buyers since October 2021. However, in Jefferies report, equities has received 4.80 per cent of the net Indian households savings in March 2022 and it is 6th most preferred investment option among Indians. As Indian households has a habit of keeping some part of its savings in liquid form.

Jefferies report has a mention about it as well. As per the Jefferies findings, 3.50 per cent of the net Indian households savings in this period has gone to cash or liquid segment and it an obvious least preferred option among the Indian households.

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Investment

HomeFirst Home Healthcare secures investment from Fulcrum – PE Hub

Published

2 days ago

June 24, 2022

Megan Johnson

Harpeth Ventures also participated in the investment.

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