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Three Gulf, nine African sovereign funds sign deal for investment – Al Jazeera English

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The deal is meant to spur investment in green projects and logistics to improve interconnectivity amid an economic crisis.

Three Gulf sovereign funds have signed a deal in Rabat to promote investment in Africa, alongside nine from within the continent.

The deal was signed by the Abu Dhabi Investment Authority and holding firm ADQ in addition to the Kuwait Investment Authority on the sidelines of the first meeting of the Africa Sovereign Investors Forum (ASIF), on Monday.

ASIF is a platform bringing together sovereign funds of Angola, Djibouti, Egypt, Ethiopia, Gabon, Ghana, Morocco, Nigeria and Rwanda.

The organisers gave no details on how exactly the Gulf funds will support their African counterparts. But ASIF “will enable us to explore new opportunities with potential partners in Africa for ADQ and its portfolio companies”, said ADQ CEO Mohamed Hassan Alsuwaidi.

Heads of African sovereign funds taking part at the event said the focus for ASIF will be on mobilising capital and equity, promoting green projects and investing in logistics to improve interconnectivity within the continent.

The African sovereign funds that signed the deal include Morocco’s Ithmar Capital, Nigeria Sovereign Investment Authority, Ghana Infrastructure Investment Fund, Gabon’s Fonds Gabonais d’Investissements Stratégiques (FGIS), Rwanda’s Agaciro Development Fund, Angola’s Fundo Soberano, the Sovereign Fund of Egypt, Senegal’s FONSIS and Djibouti’s Sovereign Fund.

The deal has been signed during vulnerable economic times for many countries, especially in states already struggling due to climate change, the coronavirus pandemic, and now the effects of war in Ukraine.

In May, the United Nations said Africa is facing an “unprecedented” crisis caused by Russia’s four-month invasion of Ukraine that has led to soaring food and fuel prices.

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Investment firm acquires Henri-Lloyd >> Scuttlebutt Sailing News – Scuttlebutt Sailing News

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Published on July 4th, 2022
<!–by Editor–>

Swiss performance brand ODLO will acquire the 60-year-old British sailing brand, Henri-Lloyd. The acquisition comes months after ODLO announced the acquisition of Janus – a merino clothing manufacturer – and solidifies the brand’s commitment to growth and scale through acquisition across their portfolio.

These brands are among the holdings of Monte Rosa Capital (MRC), a privately owned investment firm which primarily focuses on Sport & Leisure and Health.

Scuttlebutt had previously reported how the sailing gear brand had gone into administration in 2018, and then relaunched in 2019. Henri-Lloyd is now technical clothing partners with the British SailGP Team and the America’s Cup challenger INEOS Britannia.

The Henri-Lloyd team will remain located in the UK in its home city of Manchester but will collaborate with the ODLO group in the future development of the brand and a new generation of innovative products.

“The acquisition of Henri-Lloyd by ODLO opens up tremendous opportunities for the brand to reach its true potential to the benefit of all shareholders, both current and future,” added Hans Eckerström, Henri-Lloyd Chairman of the Board. “Joining a family of successful companies that share values and goals will accelerate our growth.”

ODLO clothing is designed in Switzerland and serves markets in nearly 40 countries around the world. MRC has offices in Oslo, Norway and Zuos, Switzerland with current holdings including ODLO, Janus, D-Fetch, Meshtech, and Dignio.

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Paul Holba appointed Chief Investment Officer of Empire Life Investments Inc. – Yahoo Finance

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KINGSTON, ON, July 4, 2022 /CNW/ – Empire Life Investments Inc. (ELII) today announced the appointment of Paul Holba, CFA, as Chief Investment Officer. Mr. Holba also joins the executive leadership team of parent company The Empire Life Insurance Company (Empire Life).

Empire Life (CNW Group/The Empire Life Insurance Company)

Empire Life (CNW Group/The Empire Life Insurance Company)

Mr. Holba joined Empire Life’s retail distribution division in 2009, bringing with him more than 20 years of experience in the Canadian investment industry through progressively senior roles with global investment management firms and the asset management division of a major Canadian bank. He has held senior management roles in both Empire Life and ELII since then. For the past seven years, he has held the position of Vice-President, Retail Distribution, building strong relationships with and between advisors, investment professionals and strategic partners.

“Paul has deep knowledge of the investment and insurance sectors and has proven himself as a highly respected and engaging leader within the company and the industry,” says Mark Sylvia, President and CEO of Empire Life and ELII. “Under Paul’s leadership, the ELII investment management team will continue its focus on performance through investing in attractively valued, high-quality businesses with an emphasis on downside protection for our customers and institutional investors.”

About Empire Life Investments Inc.

Empire Life Investments Inc. is a wholly owned subsidiary of The Empire Life Insurance Company. The company manages and offers mutual funds and is the portfolio manager of Empire Life segregated funds, including Empire Life Guaranteed Investment Funds.

About Empire Life

Established in 1923 and a subsidiary of E-L Financial Corporation Limited, Empire Life provides individual and group life and health insurance, investment and retirement products. The company’s mission is to make it simple, fast and easy for Canadians to get the products and services they need to build wealth, generate income, and achieve financial security. As of March 31, 2022, Empire Life had total assets under management of $18.6 billion. Follow us on social media @EmpireLife or visit empire.ca for more information.

SOURCE The Empire Life Insurance Company

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View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2022/04/c4634.html

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Why ETFs are a good investment value – Yahoo Finance

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Exchange-traded funds, or ETFs, can be a good way to diversify your portfolio and can be cost-effective.

“ETFs are generally less costly and easier to access for investors,” said Ben Johnson, Morningstar’s director of global exchange-traded fund research. “They offer investors access to a whole host of investment strategies, from total market indexes to actively managed portfolios of stocks linked to the metaverse, with low fees, superior tax efficiency, and often much smaller investment minimums—typically as low as the price of a single share.”

Here’s what industry experts have to say about how to make ETFs sound investment values.

Johnson notes it’s important to know and respect what the “ET” in ETF stands for. “ETFs trade like stocks, and investors should practice good hygiene when it comes to trading them to avoid running up a big trading cost bill,” he said.

ADVICE FOR THE FIRST-TIME ETF BUYER

Specifically, Johnson explained that investors should consider using limit orders when buying and selling ETFs.

“This will help to ensure that they get the price they ask for (if not better) and prevent them from transacting at a price they might not like,” he said.

ETFs are fully transparent, said Tom Lydon, vice chairman with VettaFi.

“They frequently update their holdings, so investors know exactly what they are getting themselves into,” he said.

PICKING AN ETF: EXPERTS WEIGH IN

Also, Lydon explained that ETFs are more tax efficient than traditional open-end funds. Due to structural differences, said Lydon, ETFs do not incur a capital gains tax like how mutual funds would, but still come with a capital gains tax upon the sale of the ETF by an investor.

According to Lydon, ETFs may be seen as an improved version of their mutual fund cousins, providing the benefits of mutual funds and then some.

“Some of the key selling points of ETFs beyond traditional open-end funds may include things like lower expense ratios, flexible intraday trading, transparent nature and improved tax efficiency for taxable accounts,” Lydon said.

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Finally, unlike mutual funds that are bought and sold once per day after the market closes, ETFs trade all day long.

“If you are familiar with trading individual company stocks on a brokerage platform, then picking up an ETF should be a similar experience,” continued Lydon.

Furthermore, he said more knowledgeable investors may also utilize various trade orders for executing ETF trades, including limit orders and stop-limit orders, along with short selling, to better manage their investment experience.

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