This article discusses the growth of art investment funds focused on emerging markets in Asia and the Middle East. Two art fund managers, Andrew Littlejohn of Meridian Art Partners and Philip Hoffman of The Fine Art Fund, see opportunities in these regions as their economies and wealthy investor classes expand. Both firms are launching or considering launching new funds dedicated to investing in contemporary art from countries like China, India, Vietnam and the Middle East. The funds argue that art provides diversification from equity markets and higher potential returns than other luxury assets. However, art investment is still a niche for wealthy Asian investors.
Philippines, Hongkong, Shanghai, SIngapore
Contact: miriam@asiabankersclub.com
About Us- www.asiabankersclub.com - Asia Bankers Club is a premium club for banking executives and their guests in the Asia Pacific region. To date we have in excess of 16,000 members and we specialize in organizing investment and lifestyle events. Asia Bankers Club is also a platform offering alternative investment opportunities in physical assets such as real estate, fine wines, art, timepieces, diamonds and antique cars.
The document discusses several identity design projects including for a luxury apartment building called KalpataruAvana inspired by the jewelry of an Indian king, a production company called Green Light representing the coming together of film elements, and an Indian tea company called Chaitime targeting affluent customers and expats with quirky packaging extending to its website and displays. Another project was for a US construction company called D.R Earp showing how its separate functions come together as one unit in the identity.
http://profitableinvestingtips.com/profitable-investing-tips/practical-gold-investments
Practical Gold Investments
December 2018 was a tough month for the stock market. In fact, the S&P 500 started falling in October of 2018. An aging bull market, a trade war that could be long term, higher interest rates, and falling profits are all indicators that the long run up in stock prices is over. When a bear market is on the horizon, one of the options for an investor is to take profits from stocks and look for some practical gold investments. The key here is the word “practical.” There are inefficient and difficult ways to invest in gold and then there are practical gold investments. Here are some thoughts on why and then how to invest in gold.
Why Invest in Gold?
A true “gold bug” believes that in the end all paper (fiat) currencies will become worthless and that gold will hold its value. These folks buy gold bullion with the intention of holding it forever. Others jump on the bandwagon when gold is going up in price, only to sell when the price of gold corrects. Why you would want to invest in gold can vary and depending on your reason there may be different practical gold investments for you.
The Edge 16 November 2010 Feature Middle East Art AuctionsMiles Masterson
The document discusses art auctions in the Middle East and whether purchasing art can be a wise investment. It notes that great classical and contemporary art pieces from the Islamic world can sell for high prices at major auction houses. While initially wary, auction culture has been embraced in the region. Art experts say appreciating and collecting art requires passion rather than seeing it as a path to quick profits. Quality art from the Islamic world can gain value over time, but capital appreciation alone should not drive purchases.
Asia Frontier Capital - AFC Asia Frontier Fund presentation 2015.07.09Thomas Hugger
The AFC Asia Frontier Fund invests in public equities of Asian frontier countries that are seeing increasing consumption due to favorable demographic trends, rising incomes and high GDP growth. The fund invests in listed equities of companies that have their principal business activities in Bangladesh, Bhutan, Cambodia, Iraq, Laos, Maldives, Mongolia, Myanmar (Burma), Nepal, Pakistan, Papua New Guinea, Sri Lanka and Vietnam. The AFC Asia Frontier Fund is positioned to take advantage of the continuing economic shifts in these countries and offers high returns combined with significant diversification opportunities. This fund is directed by the founder and CEO of Asia Frontier Capital, Thomas Hugger, who has been investing in frontier markets across Asia and Africa for more than 20 years.
AlHuda CIBE going to organize Two days specialized training workshop on Islamic Banking & Finance on 18-19 October, 2018 at Canada.
E: info@alhudacibe.com
http://alhudacibe.com/conference2018/canada/
This is presentation being presented by Shivi Aggarwal, Radhika Gupta, Sweta Agarwal and Madhusudan Partani Students of FORE School of Management ( FMG-18).
It evaluates Art and Colectables as Alternative Investment. Also covers the Participants, Valuation of Art, Insurance, Tax Aspects.....
Masterworks is an investment platform that allows investors to purchase shares in valuable works of art from blue-chip artists. They select artworks that have strong past appreciation and future demand potential based on factors like the artist's prominence. Each artwork is securitized through a public offering registered with the SEC. This provides investors fractional exposure to a single high-quality artwork within a regulated structure. Masterworks believes fine art can offer superior risk-adjusted returns compared to stocks and provides diversification as it has a low correlation to equity markets. Their strategy focuses on acquiring blue-chip works that have stable value due to the artist's stature and limited remaining supply.
Philippines, Hongkong, Shanghai, SIngapore
Contact: miriam@asiabankersclub.com
About Us- www.asiabankersclub.com - Asia Bankers Club is a premium club for banking executives and their guests in the Asia Pacific region. To date we have in excess of 16,000 members and we specialize in organizing investment and lifestyle events. Asia Bankers Club is also a platform offering alternative investment opportunities in physical assets such as real estate, fine wines, art, timepieces, diamonds and antique cars.
The document discusses several identity design projects including for a luxury apartment building called KalpataruAvana inspired by the jewelry of an Indian king, a production company called Green Light representing the coming together of film elements, and an Indian tea company called Chaitime targeting affluent customers and expats with quirky packaging extending to its website and displays. Another project was for a US construction company called D.R Earp showing how its separate functions come together as one unit in the identity.
http://profitableinvestingtips.com/profitable-investing-tips/practical-gold-investments
Practical Gold Investments
December 2018 was a tough month for the stock market. In fact, the S&P 500 started falling in October of 2018. An aging bull market, a trade war that could be long term, higher interest rates, and falling profits are all indicators that the long run up in stock prices is over. When a bear market is on the horizon, one of the options for an investor is to take profits from stocks and look for some practical gold investments. The key here is the word “practical.” There are inefficient and difficult ways to invest in gold and then there are practical gold investments. Here are some thoughts on why and then how to invest in gold.
Why Invest in Gold?
A true “gold bug” believes that in the end all paper (fiat) currencies will become worthless and that gold will hold its value. These folks buy gold bullion with the intention of holding it forever. Others jump on the bandwagon when gold is going up in price, only to sell when the price of gold corrects. Why you would want to invest in gold can vary and depending on your reason there may be different practical gold investments for you.
The Edge 16 November 2010 Feature Middle East Art AuctionsMiles Masterson
The document discusses art auctions in the Middle East and whether purchasing art can be a wise investment. It notes that great classical and contemporary art pieces from the Islamic world can sell for high prices at major auction houses. While initially wary, auction culture has been embraced in the region. Art experts say appreciating and collecting art requires passion rather than seeing it as a path to quick profits. Quality art from the Islamic world can gain value over time, but capital appreciation alone should not drive purchases.
Asia Frontier Capital - AFC Asia Frontier Fund presentation 2015.07.09Thomas Hugger
The AFC Asia Frontier Fund invests in public equities of Asian frontier countries that are seeing increasing consumption due to favorable demographic trends, rising incomes and high GDP growth. The fund invests in listed equities of companies that have their principal business activities in Bangladesh, Bhutan, Cambodia, Iraq, Laos, Maldives, Mongolia, Myanmar (Burma), Nepal, Pakistan, Papua New Guinea, Sri Lanka and Vietnam. The AFC Asia Frontier Fund is positioned to take advantage of the continuing economic shifts in these countries and offers high returns combined with significant diversification opportunities. This fund is directed by the founder and CEO of Asia Frontier Capital, Thomas Hugger, who has been investing in frontier markets across Asia and Africa for more than 20 years.
AlHuda CIBE going to organize Two days specialized training workshop on Islamic Banking & Finance on 18-19 October, 2018 at Canada.
E: info@alhudacibe.com
http://alhudacibe.com/conference2018/canada/
This is presentation being presented by Shivi Aggarwal, Radhika Gupta, Sweta Agarwal and Madhusudan Partani Students of FORE School of Management ( FMG-18).
It evaluates Art and Colectables as Alternative Investment. Also covers the Participants, Valuation of Art, Insurance, Tax Aspects.....
Masterworks is an investment platform that allows investors to purchase shares in valuable works of art from blue-chip artists. They select artworks that have strong past appreciation and future demand potential based on factors like the artist's prominence. Each artwork is securitized through a public offering registered with the SEC. This provides investors fractional exposure to a single high-quality artwork within a regulated structure. Masterworks believes fine art can offer superior risk-adjusted returns compared to stocks and provides diversification as it has a low correlation to equity markets. Their strategy focuses on acquiring blue-chip works that have stable value due to the artist's stature and limited remaining supply.
Why should art be considered as an asset class?ARTSTAQ
Art has characteristics of a high-risk illiquid investment but recent trends suggest it may emerge as a new asset class. The art market has grown significantly in size due to factors like globalization and increasing wealth. Analysis of art indices shows moderate positive real returns from art with low correlation to traditional assets like stocks and bonds, suggesting art can diversify a portfolio. However, art is heterogeneous and its investment characteristics vary between sectors.
The document describes Metric India Art Fund (MIAF), which aims to build and finance the art industry. MIAF will operate as both an investor in artworks and a structured fund manager investing in the art sector. It will focus on taking advantage of the untapped art market in India and bridging the gap between financial markets and art as an asset class. MIAF will make investments across private equity, public equity, and liquid funds based on criteria like management strength, barriers to entry, and clear exit strategies.
Alternative Latin Investor Releases the ONLY in-depth research on Latin American Art Investment.
Due to its out-performance of many asset classes, wealthy investors are increasingly viewing art
less as a passion and more as a serious asset class in its own right.
As demand and prices for other works in the U.S. and Europe slump, the Latin American art market continues to soar.
FLO organized an interactive session on Where Should I Invest… Real Estate, Stock Market, Jewellery, Art.. on September 30, 2013 at New Delhi.
The session was organized with the objective to provide a better understanding on the subject from a panel of experts comprising.
In this presentation, Ms Vadehra suggested that art should be taken up as a serious subject in the school curriculums as this would help in increasing the knowledge base among children and thereby, creating awareness about art in a serious manner. Talking about investing in art, she suggested that one should follow the market trends specially by following an avid art collector like Lekha Poddar, which would facilitate in making the right investment decisions.
Unlocking the financial value of your artistic worksMJDelaMasa
The press release announces Hong Kong Arts Investment Company Limited (HKAIC) as a global financial intermediary focused on artwork fund trading, currency conversion, and project financing. HKAIC provides artwork financing and fundraising services using valuable Chinese antiques, paintings, and calligraphy as assets. Key services include accepting artwork from customers as financial assets or securities, and facilitating art investment and financing. HKAIC aims to help obtain financing and promote cultural exchange while serving as a bridge for the artwork financial industry.
This document is the Art & Finance Report 2019 published by Deloitte. It provides an introduction and overview of the report's key findings and priorities. The introduction notes that auction sales slowed 20% in the first half of 2019, which could signal weaker art market growth due to Brexit uncertainty and the US-China trade war. It questions why art market growth has not kept pace with growing global wealth. The biggest threat to the art market's reputation according to collectors surveyed is a lack of transparency, the highest reading ever at 75%. This lack of transparency could explain why more wealthy individuals do not invest more in art.
This document discusses various art-backed financial products and services, including art banking, art investment vehicles, and art derivatives. It describes how art banking involves lending against works of art, including to galleries for working capital and individuals for estate planning. It outlines the different types of lenders and loan terms. It also discusses challenges in the past with art funds and more recent mixed results with art exchanges. Developing suitable art market indices remains an obstacle for art derivatives.
The document discusses art investment vehicles and funds. It finds that the value of global assets under management in art funds is $2.25 billion. Art funds allow investors to pool resources to invest in art and provide diversification with relatively small capital commitments. However, they also lack transparency and track records. Early art funds from the 1900s and 1970s showed annual returns of 14.6% and 11.3% respectively. Due diligence of art funds is important to understand areas like governance, risk controls, and liquidation strategies. While some art funds have failed, interest continues to grow and more institutional investors may participate as the market matures.
Criteria for Investing In the Market of Visual Artsinventionjournals
This document discusses criteria for investing in the visual arts market. It begins by differentiating between collecting art and investing in art, noting that collecting is done for personal enjoyment while investing aims to obtain financial returns. It identifies the key variables to consider when investing, including the piece of art itself and the artist. It discusses different categories of artists (consecrated/established vs emerging) and how their career stages impact investment criteria. Overall, the document aims to provide parameters and guidelines for investors to make profitable purchases in the complex and segmented visual arts market.
Emerging trends in real estate® Asia Pacific 2015elithomas202
Emerging trends in real estate® Asia Pacific is a trends and forecast publication now in its ninth edition, and is one of the most highly regarded and widely read forecast reports in the real estate industry.
Skate’s Art Market Research provides high net worth individuals and institutional investors around the world with reliable and unbiased information and research supporting art investment decisions. Unlike art dealers and auction houses, Skate’s does not derive income from selling or buying art and is focused entirely on enabling its customers to make well-informed art investment decisions using the information and research produced by Skate Press Ltd. and its subsidiaries.
Objective Capital's Global Resources Investment Conference 2011
Stationers' Hall, City of London
27-28 September 2011
Day 1- Session 8: Africa focus
Speaker: Mike Smyth, Lionhart
Harvest group was founded in 2003 to provide Forex, Metal, Indices and Stock trading. It has over 16 billion in assets and subsidiary companies in 12 countries. It employs 1300 staff across its operations. PT Harvest International futures is a registered member of the Indonesia Regulatory Agency and several other exchanges. It provides fundamental analysis to assess long term trends, values, strengths, and weaknesses to identify investment opportunities.
The document discusses Japan's large cash reserves and investment activities outside its borders. Due to the global financial crisis, Japanese companies have been able to acquire foreign firms and assets at low prices using their significant savings. Recent examples of major Japanese acquisitions in the US, Europe, India, and Germany are provided. The author argues that unlike previous periods, Japanese investors are now regarded as considerate owners who try to retain local management. He suggests that Jamaica could benefit from pursuing foreign direct investment from Japanese companies to aid development projects.
The document discusses various measures of investor sentiment in financial markets, including volume and liquidity. It notes that high trading volume confirms trends in prices and that divergences between rising prices and falling volume can signal a trend reversal. The document also examines factors that influence money flows into stock markets, such as economic growth, listings and float of new companies.
015 Essay Example Rutgers Admission University AppliSherry Bailey
The document discusses recommendations for Gap Inc. to improve sales over the next three years. It analyzes Gap's strengths and weaknesses, including strong buyer bargaining power for consumers and strong supplier bargaining power. It also examines competition in the industry and recommends Gap focus on brand image through improved advertising and reflecting latest fashion trends to appeal to emotional customers.
The document provides an overview of the basics of the Indian capital market. It discusses:
- The origins of the Indian securities market in 1875 under a Banyan tree in Mumbai, which later became the Bombay Stock Exchange.
- Key developments over time including the establishment of other stock exchanges, periods of bull and bear markets driven by economic conditions, and influential market events and individuals.
- Important stock indices like the SENSEX and Nifty 50 which track the performance of leading companies.
- The process of initial public offerings and book building to determine stock prices.
- Factors that influence stock prices in the short and long run.
- The relationship between risk and potential returns
This document discusses mutual funds and stock markets in India. It provides background on mutual funds, describing how they work and their history in India. It also discusses different types of mutual funds and how they are classified. The objectives of the study discussed are to analyze the performance and returns of mutual funds and their correlation with stock market indices. Data on various mutual funds and market performance from 2009-2012 is collected for analysis.
This document discusses mutual funds and stock markets in India. It provides background on mutual funds, describing them as investment vehicles that pool money from investors to purchase a variety of securities. The document then discusses the objectives of the study, which are to analyze returns from investing in stock markets and examine how well mutual fund schemes attract investor confidence. It also describes the methodology used, including collecting performance data on mutual funds and market indices from 2009-2012 and analyzing two mutual funds and two index funds.
Gold Investment Symposium 2012 - Tony Locantro - Locantros LifeSymposium
This document provides an overview of Tony Locantro and his investment newsletter Locantro's Life. Locantro is the Managing Director of Locantro Capital Pty Ltd, a corporate advisory service, and Locantro Asset Management Pty Ltd, a fund manager. He is also the publisher of Locantro's Life, a speculative investment newsletter. The document discusses Locantro's background and experience in the stock market and mining industry. It also summarizes some of Locantro's views on speculating in the market and provides brief overviews of a few gold junior companies.
El Puerto de Algeciras continúa un año más como el más eficiente del continente europeo y vuelve a situarse en el “top ten” mundial, según el informe The Container Port Performance Index 2023 (CPPI), elaborado por el Banco Mundial y la consultora S&P Global.
El informe CPPI utiliza dos enfoques metodológicos diferentes para calcular la clasificación del índice: uno administrativo o técnico y otro estadístico, basado en análisis factorial (FA). Según los autores, esta dualidad pretende asegurar una clasificación que refleje con precisión el rendimiento real del puerto, a la vez que sea estadísticamente sólida. En esta edición del informe CPPI 2023, se han empleado los mismos enfoques metodológicos y se ha aplicado un método de agregación de clasificaciones para combinar los resultados de ambos enfoques y obtener una clasificación agregada.
Why should art be considered as an asset class?ARTSTAQ
Art has characteristics of a high-risk illiquid investment but recent trends suggest it may emerge as a new asset class. The art market has grown significantly in size due to factors like globalization and increasing wealth. Analysis of art indices shows moderate positive real returns from art with low correlation to traditional assets like stocks and bonds, suggesting art can diversify a portfolio. However, art is heterogeneous and its investment characteristics vary between sectors.
The document describes Metric India Art Fund (MIAF), which aims to build and finance the art industry. MIAF will operate as both an investor in artworks and a structured fund manager investing in the art sector. It will focus on taking advantage of the untapped art market in India and bridging the gap between financial markets and art as an asset class. MIAF will make investments across private equity, public equity, and liquid funds based on criteria like management strength, barriers to entry, and clear exit strategies.
Alternative Latin Investor Releases the ONLY in-depth research on Latin American Art Investment.
Due to its out-performance of many asset classes, wealthy investors are increasingly viewing art
less as a passion and more as a serious asset class in its own right.
As demand and prices for other works in the U.S. and Europe slump, the Latin American art market continues to soar.
FLO organized an interactive session on Where Should I Invest… Real Estate, Stock Market, Jewellery, Art.. on September 30, 2013 at New Delhi.
The session was organized with the objective to provide a better understanding on the subject from a panel of experts comprising.
In this presentation, Ms Vadehra suggested that art should be taken up as a serious subject in the school curriculums as this would help in increasing the knowledge base among children and thereby, creating awareness about art in a serious manner. Talking about investing in art, she suggested that one should follow the market trends specially by following an avid art collector like Lekha Poddar, which would facilitate in making the right investment decisions.
Unlocking the financial value of your artistic worksMJDelaMasa
The press release announces Hong Kong Arts Investment Company Limited (HKAIC) as a global financial intermediary focused on artwork fund trading, currency conversion, and project financing. HKAIC provides artwork financing and fundraising services using valuable Chinese antiques, paintings, and calligraphy as assets. Key services include accepting artwork from customers as financial assets or securities, and facilitating art investment and financing. HKAIC aims to help obtain financing and promote cultural exchange while serving as a bridge for the artwork financial industry.
This document is the Art & Finance Report 2019 published by Deloitte. It provides an introduction and overview of the report's key findings and priorities. The introduction notes that auction sales slowed 20% in the first half of 2019, which could signal weaker art market growth due to Brexit uncertainty and the US-China trade war. It questions why art market growth has not kept pace with growing global wealth. The biggest threat to the art market's reputation according to collectors surveyed is a lack of transparency, the highest reading ever at 75%. This lack of transparency could explain why more wealthy individuals do not invest more in art.
This document discusses various art-backed financial products and services, including art banking, art investment vehicles, and art derivatives. It describes how art banking involves lending against works of art, including to galleries for working capital and individuals for estate planning. It outlines the different types of lenders and loan terms. It also discusses challenges in the past with art funds and more recent mixed results with art exchanges. Developing suitable art market indices remains an obstacle for art derivatives.
The document discusses art investment vehicles and funds. It finds that the value of global assets under management in art funds is $2.25 billion. Art funds allow investors to pool resources to invest in art and provide diversification with relatively small capital commitments. However, they also lack transparency and track records. Early art funds from the 1900s and 1970s showed annual returns of 14.6% and 11.3% respectively. Due diligence of art funds is important to understand areas like governance, risk controls, and liquidation strategies. While some art funds have failed, interest continues to grow and more institutional investors may participate as the market matures.
Criteria for Investing In the Market of Visual Artsinventionjournals
This document discusses criteria for investing in the visual arts market. It begins by differentiating between collecting art and investing in art, noting that collecting is done for personal enjoyment while investing aims to obtain financial returns. It identifies the key variables to consider when investing, including the piece of art itself and the artist. It discusses different categories of artists (consecrated/established vs emerging) and how their career stages impact investment criteria. Overall, the document aims to provide parameters and guidelines for investors to make profitable purchases in the complex and segmented visual arts market.
Emerging trends in real estate® Asia Pacific 2015elithomas202
Emerging trends in real estate® Asia Pacific is a trends and forecast publication now in its ninth edition, and is one of the most highly regarded and widely read forecast reports in the real estate industry.
Skate’s Art Market Research provides high net worth individuals and institutional investors around the world with reliable and unbiased information and research supporting art investment decisions. Unlike art dealers and auction houses, Skate’s does not derive income from selling or buying art and is focused entirely on enabling its customers to make well-informed art investment decisions using the information and research produced by Skate Press Ltd. and its subsidiaries.
Objective Capital's Global Resources Investment Conference 2011
Stationers' Hall, City of London
27-28 September 2011
Day 1- Session 8: Africa focus
Speaker: Mike Smyth, Lionhart
Harvest group was founded in 2003 to provide Forex, Metal, Indices and Stock trading. It has over 16 billion in assets and subsidiary companies in 12 countries. It employs 1300 staff across its operations. PT Harvest International futures is a registered member of the Indonesia Regulatory Agency and several other exchanges. It provides fundamental analysis to assess long term trends, values, strengths, and weaknesses to identify investment opportunities.
The document discusses Japan's large cash reserves and investment activities outside its borders. Due to the global financial crisis, Japanese companies have been able to acquire foreign firms and assets at low prices using their significant savings. Recent examples of major Japanese acquisitions in the US, Europe, India, and Germany are provided. The author argues that unlike previous periods, Japanese investors are now regarded as considerate owners who try to retain local management. He suggests that Jamaica could benefit from pursuing foreign direct investment from Japanese companies to aid development projects.
The document discusses various measures of investor sentiment in financial markets, including volume and liquidity. It notes that high trading volume confirms trends in prices and that divergences between rising prices and falling volume can signal a trend reversal. The document also examines factors that influence money flows into stock markets, such as economic growth, listings and float of new companies.
015 Essay Example Rutgers Admission University AppliSherry Bailey
The document discusses recommendations for Gap Inc. to improve sales over the next three years. It analyzes Gap's strengths and weaknesses, including strong buyer bargaining power for consumers and strong supplier bargaining power. It also examines competition in the industry and recommends Gap focus on brand image through improved advertising and reflecting latest fashion trends to appeal to emotional customers.
The document provides an overview of the basics of the Indian capital market. It discusses:
- The origins of the Indian securities market in 1875 under a Banyan tree in Mumbai, which later became the Bombay Stock Exchange.
- Key developments over time including the establishment of other stock exchanges, periods of bull and bear markets driven by economic conditions, and influential market events and individuals.
- Important stock indices like the SENSEX and Nifty 50 which track the performance of leading companies.
- The process of initial public offerings and book building to determine stock prices.
- Factors that influence stock prices in the short and long run.
- The relationship between risk and potential returns
This document discusses mutual funds and stock markets in India. It provides background on mutual funds, describing how they work and their history in India. It also discusses different types of mutual funds and how they are classified. The objectives of the study discussed are to analyze the performance and returns of mutual funds and their correlation with stock market indices. Data on various mutual funds and market performance from 2009-2012 is collected for analysis.
This document discusses mutual funds and stock markets in India. It provides background on mutual funds, describing them as investment vehicles that pool money from investors to purchase a variety of securities. The document then discusses the objectives of the study, which are to analyze returns from investing in stock markets and examine how well mutual fund schemes attract investor confidence. It also describes the methodology used, including collecting performance data on mutual funds and market indices from 2009-2012 and analyzing two mutual funds and two index funds.
Gold Investment Symposium 2012 - Tony Locantro - Locantros LifeSymposium
This document provides an overview of Tony Locantro and his investment newsletter Locantro's Life. Locantro is the Managing Director of Locantro Capital Pty Ltd, a corporate advisory service, and Locantro Asset Management Pty Ltd, a fund manager. He is also the publisher of Locantro's Life, a speculative investment newsletter. The document discusses Locantro's background and experience in the stock market and mining industry. It also summarizes some of Locantro's views on speculating in the market and provides brief overviews of a few gold junior companies.
El Puerto de Algeciras continúa un año más como el más eficiente del continente europeo y vuelve a situarse en el “top ten” mundial, según el informe The Container Port Performance Index 2023 (CPPI), elaborado por el Banco Mundial y la consultora S&P Global.
El informe CPPI utiliza dos enfoques metodológicos diferentes para calcular la clasificación del índice: uno administrativo o técnico y otro estadístico, basado en análisis factorial (FA). Según los autores, esta dualidad pretende asegurar una clasificación que refleje con precisión el rendimiento real del puerto, a la vez que sea estadísticamente sólida. En esta edición del informe CPPI 2023, se han empleado los mismos enfoques metodológicos y se ha aplicado un método de agregación de clasificaciones para combinar los resultados de ambos enfoques y obtener una clasificación agregada.
An astonishing, first-of-its-kind, report by the NYT assessing damage in Ukraine. Even if the war ends tomorrow, in many places there will be nothing to go back to.
Essential Tools for Modern PR Business .pptxPragencyuk
Discover the essential tools and strategies for modern PR business success. Learn how to craft compelling news releases, leverage press release sites and news wires, stay updated with PR news, and integrate effective PR practices to enhance your brand's visibility and credibility. Elevate your PR efforts with our comprehensive guide.
Acolyte Episodes review (TV series) The Acolyte. Learn about the influence of the program on the Star Wars world, as well as new characters and story twists.
Here is Gabe Whitley's response to my defamation lawsuit for him calling me a rapist and perjurer in court documents.
You have to read it to believe it, but after you read it, you won't believe it. And I included eight examples of defamatory statements/
1. 16_facts_neu_RZ 02.04.2008 14:48 Uhr Seite 16
NEWS | STATEMENTS
E m e rg i n g M a r k e ts i n F o c u s
The search for the right recipe for an art fund continues. Two former employees of the auction house Phillips de Pury &
Company, Andrew Littlejohn and Pamela Johnson, seem certain to have found the solution. With their company, Meridian, they
have set out in search of investors and aim to have 25 million dollars ready to invest in contemporary art by the end of June.
The minimum stake is 250,000 dollars.
Interview UTE KREPLER
Andrew F. Littlejohn
ARTINVESTOR: Mr. Littlejohn, what art entirety of their capital in a British Virgin ed.], who embezzled money from company
will you be investing in with your fund? Islands Limited Partnership which, effectively, investors. Many Western investors are quite
Andrew F. Littlejohn: The focus of our is the Fund. Given the financial partnerships interested in the investment opportunities
investments will be on contemporary art from we have in Asia and the Middle East, we are associated with art—at least this is the re-
emerging art markets throughout the world. seeing many of our early investors coming action we have gotten—especially given the
These markets include, but are not limited to, from these regions. This being said, we present volatility of the global equity markets
countries in Africa, the Middle East, Asia, believe potential investors from each of and economy in general. Art is historically
Latin America, as well as India, Russia, and the emerging art market regions will find our non-correlated with the global equity mar-
Eastern Europe. We also will allocate a small investment strategy particularly interesting. kets and has hard-asset backing. The residual
portion of our portfolio to contemporary art value of high-quality, well-selected art is
from established Western markets. Are investors in Asia and the Middle East effectively certain. There is very little down-
more willing to take risks regarding alter- side risk and quite a bit of upside potential.
Can you give some examples? native investment strategies? We are fairly confident our model can gener-
Artists we find interesting at the present time Based on early investor reactions, we have ate internal returns of 20–30% per annum.
are Yinka Shonibare, Malick Sidibe, Yto Barra- found that, yes, investors from Asia and the We have put together a team whose com-
da, Ahmed Moustafa, Farhad Moshiri, AES + Middle East in particular have expressed bined expertise is uncoupled in this nascent
F Group, Komar and Melamid, Ilya Kabokov, strong interest in our Fund. I am not sure this market.
Carlos Amorales, Gabriel Orozco, Ling Jian, is a matter of them willing to take more risk.
Zhang Lin Hai, Cao Fei, Kim Dong-Yoo, Bae Rather, in many cases, it is a matter of relative Will it be possible to follow the fund’s
Bien-U, Subodh Gupta, Atul Dodiya, George wealth. The investors we have encountered in performance?
Condo, Alice Neel, John Chamberlain, and these regions have a long-standing record With an art fund, it is impossible to mark-to-
Jo Baer. of participating in alternative investments. market and to publish quarterly returns.
We will be holding assets for a longer term,
Why are you focusing on investors in Asia Do you think Western investors have lost between 3 to 7 years. We will provide fund
and Middle East? confidence in such funds following the investors with annual reports based on third-
In an earlier interview I was somewhat mis- collapse of earlier projects? party appraisals.
quoted. We actually do not target investors in I think this generalization is incorrect. The
these regions specifically. Our fund is open to few funds that collapsed did so because they Have you already found a bank to join the
sophisticated investors worldwide through were improperly structured. In the case of fund and distribute it?
two entities: a Delaware Limited Partnership one prominent US-based fund company that There are several private banks and boutique
for US-based investors and a British Virgin collapsed [Fernwood Art Investments, ed.], wealth managers with whom we are working. ‡
Islands Limited Company for non-US-based their failure was based solely on the impro-
investors. Both of these entities invest the prieties of their Chief Executive [Bruce Taub,
16
2. Bloomberg Printer-Friendly Page Page 1 of 2
Art Funds Expand in Middle East, Asia as Hedge Against Slowdown
By Scott Reyburn
March 20 (Bloomberg) -- Art investment funds are expanding in emerging markets such as the Middle
East, India and Asia in an attempt to weather an economic slowdown.
New funds are being set up outside the U.S. and Europe with the dollar this month at its weakest since
the euro's debut in 1999 and U.S. stocks touching their lowest level since 2006. About 60 percent of
contemporary-art lots failed to achieve expected prices in London sales last month, research company
ArtTactic said. Traders at the Tefaf art fair in Maastricht, Netherlands, said demand fell from U.S.
buyers.
``We see the Middle East as the next major market to take off,'' said Andrew Littlejohn, of New York-
based Meridian Art Partners LLC. He is starting a fund ``also focused on contemporary art in India,
Asia, Russia and Africa.'' The Fine Art Fund, based in London and started in 2004, is investing in Chinese
and Indian works too.
Over the last five years, managers of art investment funds, which buy and sell a pool of works for a set
management fee and a share of any profit made, have been keen to promote art as an alternative asset
class. So far, the Fine Art Fund, started in 2004, is the only one of these vehicles that has remained
conspicuously active in the West.
Collectors of western contemporary art have been buying selectively after an 11-year period of price
appreciation ranging from 2.5 times to as much as five times, according to index-maker Art Market
Research.
``New markets have the best opportunities and we want to offer them to sophisticated investors,'' said
Littlejohn, a former Phillips de Pury manager who worked in New York, London and Asia.
Chinese Art
More than 10 billionaires are among those to have invested up to $110 million in the Fine Art Fund, its
chief executive Philip Hoffman said. In 2006, he launched a Chinese Fine Art Fund with an initial target
size of $10 million.
``We stopped buying Chinese contemporary art for that fund nine months ago,'' said Hoffman, a trained
accountant who formerly worked for Christie's International. ``We're now looking at other areas. I've
just bought a piece of 18th-century Chinese Imperial porcelain for $1.5 million.''
This January, he opened an Indian fund, projected at $25 million. He said the fund was registered in
Delaware, so it wouldn't be affected by the Security and Exchange Board of India's recently issued
guidelines on art funds.
``The Middle East has a big potential upside, but I'm nervous about it,'' said Hoffman. ``We don't like
to enter a speculator's market. That's why we never buy Damien Hirst.'' He plans a Middle Eastern
fund that he hopes will attract investment of $10 million.
Brothers in Art
London dealer Serge Tiroche, a former Citigroup banker, said in a telephone interview that he and his
brother Micky plan to start a fund called ArtPlus, specializing in Impressionist, modern and
http://www.bloomberg.com/apps/news?pid=20670001&refer=&sid=aJcz9abdNwFQ 3/27/2008
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contemporary art, in the second quarter of 2008.
ArtPlus aims to raise $100 million to $200 million in the form of shares and will hold ``blue-chip'' works
and engage in short-term trading and ``art finance,'' its prospectus said.
``This is a good time to start an art fund,'' said Tiroche. ``I believe in the next two years things will
slow down and there will be opportunities to buy collections and distressed portfolios.''
Some established collectors remain skeptical about art funds' ability to make profits for their investors.
``I'd rather be my own fund manager,'' said New York-based collector Howard Farber, who last October
sold 45 works from his collection of Chinese contemporary art at Phillips de Pury, London, for 10.1
million pounds ($20 million) with fees, double the upper estimate.
`Buy Some Books'
``All you have to do is follow some auctions and buy some books,'' Farber said. ``It's so much more
rewarding.''
In 2005, art funds started by ABN Amro Holding NV and Boston-based Fernwood Art Investments --
the latter with a target value of $100 million -- were both closed after failing to attract enough
investment.
Societe Generale SA's Olivier Maman said in a telephone interview that the French bank had planned
an art fund aimed to draw an initial investment of 25 million euros ($39 million). Maman, the fund's
managing director, said that an institutional investor, who he wouldn't name, later pulled out. SocGen
has been stung by a record 4.9 billion-euro trading loss.
``It's still possible the fund might be launched, but the scale will be smaller,'' Maman said.
(Scott Reyburn writes about the art market for Bloomberg News. Any opinions expressed are his own.)
To contact the reporter on this story: Scott Reyburn in London at sreyburn@hotmail.com.
Last Updated: March 20, 2008 00:50 EDT
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4. MONEY MATTERS
Lessons from a trip
down memory lane
THE BUSINESS TIMES Wednesday, April 30, 2008 Page 33 34
An ‘art attack’ on wealthy Asians
Art funds pool investors’ money to put into works expected to appreciate significantly over
time. GENEVIEVE CUA learns that emerging markets may just be ready for this new tack
A
SIA’S wealthy now
have a new invest-
ment option to con-
sider – one that
boasts beauty and an
appreciation poten-
tial that could well ex-
ceed the broad equity
market.
Art investment funds are a rarity
in Asia, but Meridien Art Partners
managing partner Andrew Littlejohn
is in Singapore to interest clients in
the firm’s new Emerging Art Markets
Fund.
Later this year, the more estab-
lished group behind UK-based The
Fine Art Fund may also head to Singa-
pore and Hong Kong to market a
number of funds investing in the art
markets of China, India and the Mid-
dle East.
Art funds pool investors’ money to
invest in works which are expected to
appreciate significantly over time.
The funds offer diversification – your
US$1 million could be invested in 50
art pieces, for instance, instead of just
one. Another benefit will be the val-
ue-add that the managers are expect-
ed to bring, which includes a commit-
tee of experts to select art pieces, and FILE PHOTOS
exhibition and art gallery showings of Growing allure: Meridien’s Emerging Art Markets Fund aims to invest in contemporary art, sourcing artworks
the works to enhance their perceived from places like Vietnam (above), Indonesia (right), elsewhere in South-east Asia, Russia and the Middle East
value particularly among collectors in
the developed markets. were set up in 2004. About US$100 “My view is there are opportuni- and that’s really where the value is Meridien’s annual return target,
The holding period is typically million is invested in the funds. ties, depending on the sector. In an- created. says Mr Littlejohn, is a “modest” 30
about 5-7 years, with little liquidity in The firm has since set up four oth- tiques, the typical upside is perhaps “Some might say that the volatility per cent. The fund has a five-year life,
between. er funds to invest in Chinese, Indian, 50 to 100 per cent over 2-3 years. In in markets has caused some to pull with an option to extend for two more
Meridien’s Emerging Art Markets Middle Eastern, and Portuguese and contemporary art, it’s 3-10 times for back. But it’s quite the opposite. The years. It may make distributions after
Fund aims to invest in contemporary Spanish art. For these, he anticipates certain artists. Plenty have gone from savvy investors are interested in di- the third year. It charges an annual
raising another US$100 million. US$20,000 to US$500,000 in the last versifying their portfolios and looking management fee of 2 per cent, and a
art, scouring the markets of South-
While there are no Asian investors five years. Picking the right piece is to get out of equities and moving into performance fee of 20 per cent at the
east Asia, Vietnam, Russia and the
key.” alternatives. We’re definitely seeing end of the fund’s life, for any excess
Middle East, among others. Mr Little- in the firm’s first funds investing in
more interest from Asia and the Mid- return above a hurdle rate of 6 per
john says: “The emerging markets Impressionist masters, that may soon In terms of marketing to Asian cli-
dle East.” cent.
are where we think the opportunities change with the new funds. The firm ents, it helps too that the pool of
Meridien’s partner in Singapore is The Fine Art Fund’s fee structure
lie in the long term.” He hopes to has been approached by some private wealth is growing rapidly. In the last is broadly similar, but there is no hur-
Calamander Capital, founded by
raise US$25 million by the first clos- banks to renew marketing efforts in year or two, buyers from Asia and the dle rate for the performance fee.
former Boston Consulting Group di-
ing of the fund in June. The target as- Singapore and Hong Kong. Middle East are beginning to make
rector Roman Scott. Mr Scott says
set size is about US$100 million. Mr Hoffman said the group seeks waves in art auctions.
there is interest among the ultra high
A small number of art funds at- “quality” pieces of art. “We just Mr Littlejohn says: “As emerging net worth clients, although the mar-
tempted to get off the ground some bought important ceramic vases from economies grow, the idea is that cul- ket is very niche.
years ago but almost the only one to the 18th century from the Imperial Dy- ture follows money. Once the wealthy “Investment in real assets like art Mr Littlejohn: As
report success is The Fine Art Fund. nasty in China. The contemporary art have exhausted their interest in jets, is inflation-proof, and they offer emerging economies
Philip Hoffman, chief executive of we buy is typically in the range of second homes and other luxury much higher appreciation against the grow, the idea is that
Fine Art Management Services, said US$100,000 up to US$1-2 million per items, they turn to art. With that, they trade-off of illiquidity. More sophisti- culture follows money.
the firm’s flagship funds which invest piece. create a regional market to promote cated investors are prepared to make Once the wealthy have
in Old Masters, Impressionist, Mod- “For Indian art, we may pay art into the broader international that trade-off for serious alpha.” exhausted their interest
ern and Western contemporary art, US$10,000 to US$20,000 or between scene. We see these works getting He adds: “We find rich Asian indi- in jets, second homes
have achieve an annualised return of US$300,000 and US$500,000 per back into the Western market, in gal- viduals are not as art-oriented as and other luxury items,
a stunning 50 per cent since they work. leries in London, New York and Paris, Westerners, but they are developing.” they turn to art
Morningstar names 12 top funds Winners all
Fund Awards 2007 Singapore
Home-grown asset named in the global equity We have a certain process year . . . The volatility of consistency is to keep
FIXED INCOME CATEGORIES
category, for instance. UOB and discipline and we stick the fund was lower than its re-evaluating one’s posi-
managers among United Regional Growth by it. We examine valua- peers because of our focus tions. “Over the long term, Dollar bond Pimco GIS Total Return Bond Fund
the winners fund was named as the best tions and invest in things on quality and a long term there will be times when Non dollar bond M&G Corporate Bond Fund
in the Asia-Pacific with Ja- we know well and under- investment horizon.” the strategy looks incorrect High yield bond AllianceBernstein – Global High Yield Portfolio
By GENEVIEVE CUA pan sector, and Lion Capi- stand, and seek to identify On what’s ahead, he and you have to be pre- Emerging markets bond Templeton Emerging Markets Bond Fund
JUST 12 funds were yester- tal Singapore/Malaysia certain trends early.” The said: “The market is proba- pared to revise it.” Asia bond AIG International Funds – Singapore Bond Fund
day named as the best in Fund in the Asean equity fund invested in Singapore bly going to remain uncer- In the current
their respective categories, category. and Malaysian property tain. Compared with a year year-to-date, the Global Op- EQUITY CATEGORIES
a marked departure from Fund managers contact- firms early, and also in com- or three years ago, it’s a lot portunities Fund has suf- Global equity DBS Shenton Global Opportunities Fund
the typical fund awards ed by Executive Money said modities. more difficult to find con- fered along with the correc- North America equity Schroder ISF – US Smaller Companies
which see numerous win- that a strong investment “We’re optimistic for Sin- vincing ideas.” tion in China shares. While Europe equity Franklin Mutual European Fund
ners recognised for varying process helped ensure con- gapore . . . Fundamentals He said that investors the fund can invest in fixed
Emerging markets equity Fidelity Funds – Emerging Markets Fund
performance periods. sistency. Going forward, continue to be quite good, should tone down their ex- income, it has no allocation
In its first fund awards, however, they expect the in- valuations quite attractive. pectations, as returns of the at the moment as equities Asia-Pacific with Japan equity UOB United Regional Growth Fund
in recognition of perform- vestment backdrop to re- We’re still a bit nervous last three to five years were are still expected to outper- Asia-Pacific ex Japan ex Asean equity First State Regional China Fund
ance for 2007 and past main difficult. about the external outlook, “abnormal”. “When one form bonds. Asean equity Lion Capital Singapore/Malaysia Fund
years, Morningstar said Daniel Chan, chief execu- and the downturn may still looks to choose stocks, one In an explanation of its Source: Morningstar Research
that the objective is to recog- tive of Lion Capital, said have some way to go,” he should look for something awards methodology, Morn-
nise the funds and fund that part of the said. steady, defensive and with ingstar said that it is appro-
groups that have added the Singapore/Malaysia Fund’s The First State Regional a high yield, and focus on priate to emphasise a awards to funds that have steer them to offerings that tive review, which includes
most value over one year outperformance can be at- China Fund was named in capital preservation,” he fund’s one-year perform- posted strong one-year re- may not be good longer the question of whether or
and for longer periods. tributed to investments the Asia-Pacific ex-Japan added. ance. But the funds must al- turn, but have otherwise term investments.” not the fundamental risks
Among the winners was made in the midst of Sars in ex-Asean Equity category. On DBS Shenton Global so have delivered strong not delivered good results In terms of funds’ return in a fund are too high to
a good sprinkling of 2003. “If you invested close First State Investments’ Opportunties Fund, senior three and five-year risk ad- for investors. We also recog- and risk scores, weightings merit an award, and wheth-
home-grown asset manag- to the trough and had the Martin Lau said: “We’ve portfolio manager and equi- justed returns to merit an nise that investors often are given for one year, and er a fund is deemed to have
ers. The DBS Shenton Glo- courage to buy when prices outperformed our bench- ty strategist Peter Chiang award. “We do not wish to use awards as a ‘buy’ sig- three and five-year num- deviated from its stated
bal Opportunities Fund was were very depressed . . . mark by quite a bit every said that part of the key to be in the position of giving nal, and we do not wish to bers. There is also a qualita- mandate.
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