The document discusses managed futures as an alternative asset class, providing data showing their strong long-term performance compared to traditional assets like stocks and bonds. It also profiles Superfund, a leading managed futures provider, outlining their strategy of trend following across over 100 markets and strong risk-adjusted returns. Adding a 25% allocation to Superfund A in a traditional portfolio significantly increased returns and reduced risk over the period from 2000 to 2009.
This document discusses a Deloitte webcast on private equity trends in China presented by three Deloitte partners. It provides an agenda that will discuss recent PE/VC activity in China, investment prospects in China's seven new strategic sectors, future fund of funds opportunities, and a question and answer segment. Participant information provided during the webcast may be used by Deloitte for publications, studies and services.
The document provides an overview of portfolio management services (PMS) offered by Excel MF. It discusses how a PMS can help align client objectives, balance different fund manager styles, provide single point reporting and track markets/asset allocation on behalf of clients. It notes that even when individual funds underperform, a good PMS can overcome this through market calls. Scheme selection is critical, with over a 100% gap in returns between top and worst performers. The PMS invests using an in-house fund selector tool and deploys a dynamic asset allocation approach across conservative, balanced and aggressive plans starting from Rs. 5 lakhs with different fee options. Pioneer Investcorp is an integrated financial services firm that also
L&t mutual fund common application form with kimPrajna Capital
This document provides a combined key information memorandum and application form for several equity schemes offered by L&T Mutual Fund. It includes details on the nature, investment objectives, asset allocation patterns, risk profiles, plans and options, minimum investment amounts, and benchmark indices for the L&T Growth Fund and L&T Midcap Fund. The funds are open-ended growth and equity schemes respectively that primarily invest in stocks and aim to generate long-term capital appreciation.
This document provides an overview of investment vehicle options and considerations for entering and growing a business in China. It outlines two main options - establishing a holding company offshore or setting up a wholly foreign-owned enterprise (WFOE) directly in China. The key benefits and risks of each approach are discussed. Tax rates, legal structures, capital requirements and the investment approval process are also reviewed to help evaluate the best strategy.
Managed futures provide portfolio diversification opportunities through enhanced returns and lower overall volatility. They are an asset class separate from traditional investments like stocks and bonds. Over the past 10 years, assets under management for the managed futures industry have grown 700% to over $200 billion as of 2007. The benefits of including managed futures in a portfolio include potential to lower risk, enhance returns, and provide broad diversification through participation in over 150 global markets.
Managed futures can provide portfolio diversification opportunities by enhancing returns and lowering overall volatility. They allow participation in over 150 global markets across asset classes like interest rates, equities, foreign exchange, energy and commodities. This broad diversification has virtually no correlation to traditional stocks and bonds, thereby reducing portfolio risk and increasing potential returns. Adding a small allocation to managed futures, such as 20% of the total portfolio, can optimize the risk-return profile through greater independence from general market moves.
Aberdeen International is a global resource investment company focused on building value in private, micro, and small-cap resource companies through active involvement. It has a portfolio valued at $100.1 million consisting of investments in precious metals, bulk commodities, and other resources. Aberdeen leverages the expertise of Forbes & Manhattan to support its investee companies and create value for shareholders through organic growth and liquidity events.
This document discusses a Deloitte webcast on private equity trends in China presented by three Deloitte partners. It provides an agenda that will discuss recent PE/VC activity in China, investment prospects in China's seven new strategic sectors, future fund of funds opportunities, and a question and answer segment. Participant information provided during the webcast may be used by Deloitte for publications, studies and services.
The document provides an overview of portfolio management services (PMS) offered by Excel MF. It discusses how a PMS can help align client objectives, balance different fund manager styles, provide single point reporting and track markets/asset allocation on behalf of clients. It notes that even when individual funds underperform, a good PMS can overcome this through market calls. Scheme selection is critical, with over a 100% gap in returns between top and worst performers. The PMS invests using an in-house fund selector tool and deploys a dynamic asset allocation approach across conservative, balanced and aggressive plans starting from Rs. 5 lakhs with different fee options. Pioneer Investcorp is an integrated financial services firm that also
L&t mutual fund common application form with kimPrajna Capital
This document provides a combined key information memorandum and application form for several equity schemes offered by L&T Mutual Fund. It includes details on the nature, investment objectives, asset allocation patterns, risk profiles, plans and options, minimum investment amounts, and benchmark indices for the L&T Growth Fund and L&T Midcap Fund. The funds are open-ended growth and equity schemes respectively that primarily invest in stocks and aim to generate long-term capital appreciation.
This document provides an overview of investment vehicle options and considerations for entering and growing a business in China. It outlines two main options - establishing a holding company offshore or setting up a wholly foreign-owned enterprise (WFOE) directly in China. The key benefits and risks of each approach are discussed. Tax rates, legal structures, capital requirements and the investment approval process are also reviewed to help evaluate the best strategy.
Managed futures provide portfolio diversification opportunities through enhanced returns and lower overall volatility. They are an asset class separate from traditional investments like stocks and bonds. Over the past 10 years, assets under management for the managed futures industry have grown 700% to over $200 billion as of 2007. The benefits of including managed futures in a portfolio include potential to lower risk, enhance returns, and provide broad diversification through participation in over 150 global markets.
Managed futures can provide portfolio diversification opportunities by enhancing returns and lowering overall volatility. They allow participation in over 150 global markets across asset classes like interest rates, equities, foreign exchange, energy and commodities. This broad diversification has virtually no correlation to traditional stocks and bonds, thereby reducing portfolio risk and increasing potential returns. Adding a small allocation to managed futures, such as 20% of the total portfolio, can optimize the risk-return profile through greater independence from general market moves.
Aberdeen International is a global resource investment company focused on building value in private, micro, and small-cap resource companies through active involvement. It has a portfolio valued at $100.1 million consisting of investments in precious metals, bulk commodities, and other resources. Aberdeen leverages the expertise of Forbes & Manhattan to support its investee companies and create value for shareholders through organic growth and liquidity events.
This document summarizes various tax considerations and structures for foreign investment in China:
1) It outlines two main investment vehicle options for foreign companies entering China and discusses the advantages and disadvantages of each.
2) It provides an overview of withholding tax rates on dividends from China depending on the jurisdiction of the foreign investor.
3) It presents Hong Kong as a favorable holding company jurisdiction due to its low tax rates and ease of operations in China.
Aberdeen International is a global resource investment company focused on investing in private, micro, and small-cap resource companies. It takes an active role in partnering with and building companies to unlock value. Its portfolio has generated high returns, including 258% over two years. Aberdeen provides shareholders exposure to resource investments with potential for triple digit returns through its unique strategy of seed-level financing and active involvement in partner companies.
This document provides an overview of Centurion Apartment REIT, which invests in income-producing apartment properties in Canada. Some key points:
- Centurion Apartment REIT aims to provide steady monthly income distributions of 8% annually and potential capital growth by investing in rental apartments.
- Investing in apartment REITs offers advantages like reliable income, investment growth, lower volatility compared to stocks, and inflation protection.
- Private REITs like Centurion Apartment REIT may exhibit more stable pricing with lower volatility than publicly-traded REITs which can experience stock market fluctuations.
- Historical data shows the ICREIM/IPD Canada Residential "Apartment" Property
1) A Global Resource Investment Company and Merchant Bank focused on private, micro- and small-cap resource companies through a value-added approach targeting triple digit returns over 2-5 years.
2) It owns a portfolio valued at approximately $61.8 million as of April 30, 2012 and pays shareholders a 4% dividend yield.
3) It leverages the expertise of Forbes & Manhattan to actively build and create value in portfolio companies from seed-level financings through management support and public listings.
1) A Global Resource Investment Company and Merchant Bank focused on private, micro- and small-cap resource companies through a value-added approach targeting triple digit returns over 2-5 years.
2) It owns a portfolio valued at approximately $61.8 million as of April 30, 2012 and pays shareholders a 4% dividend yield.
3) It leverages the expertise of Forbes & Manhattan to actively build and create value in portfolio companies from seed-level financings through management support and public listings.
Registered Capital (RC) and Total Investment (TI) are key terms for foreign-invested enterprises in China that differ from western concepts of share capital and share capital plus loans. RC is the amount registered and paid in, with no shares or par value, and can be injected in installments. TI determines the maximum amount that can be borrowed. RC must come from the foreign parent company and be converted to RMB, while TI and RC ratios restrict maximum borrowing based on the size of the investment. Proper understanding of these terms is important for foreign investors setting up companies in China.
The document discusses listing state-owned Latvian companies on the stock exchange. It notes the potential benefits to Latvia's economy by giving companies access to capital markets and improving transparency/governance. However, some see exchange listing as a precursor to privatization. The presentation aims to encourage constructive dialogue on benefits and allay fears about privatization by distinguishing listing from privatization and citing examples. The strategy involves transparent outreach to stakeholders through meetings and public activities to promote discussion and include the issue on the government's agenda.
Aberdeen International is a global resource investment company focused on building value in private and public resource companies through active management. It has a portfolio valued at $100.1 million consisting of investments in gold, base metals, bulk commodities, agriculture, and energy. Aberdeen leverages the expertise of Forbes & Manhattan to support its investee companies and aims to generate triple digit returns over 2-5 years.
This document discusses sourcing investors and strategic partners for infrastructure projects. It explains that InduStreams has a large network of investors, operators, and cargo owners as well as insight into both industries. InduStreams can identify the most relevant investors and executives for a project, introduce the proposition, and facilitate securing an agreement, typically through a three step process of understanding needs, engagement, and finding 3-5 high relevance investors or partners.
The document discusses Q-Global Inc's Redeemable Preference Share program. It offers 3 packages - Executive, Prime, and Grand - priced from $500 to $3,500 that are redeemed after 16-24 months for guaranteed profits. Investors receive daily dividends from Q-Global's global investments. Brokers can earn bonuses of 6-10% for referrals and pass-ups based on the packages their referrals purchase.
20 the statement ofcash flowschapter twentyafter cossusera34210
The document describes the preparation of a statement of cash flows using the indirect method. It begins by providing background on the statement of cash flows, including its purpose and key sections. It then uses financial statements from a sample ski resort, Alpine Trails, to demonstrate preparing the statement of cash flows using the indirect method. This involves starting with the net income figure and making adjustments to determine the cash provided by operating activities, including adjustments for depreciation, changes in receivables and payables, and other items.
Managed futures can enhance portfolio returns and lower overall volatility through diversification. They provide exposure to over 150 global markets including commodities, currencies, and stock indices. Many funds further diversify by using multiple trading advisors with different strategies. Recent growth in managed futures assets under management has been substantial, increasing over 700% in the last 10 years to over $200 billion as of 2007. Managed futures have benefits such as potential to lower portfolio risk, opportunity to profit in varying economic conditions, and limited losses due to flexibility and discipline.
Presentation by Prof. Volker Nienhaus at Sharia Economics Conference 2013, with the topic: "Islamic Economics and Financial Sector Reform".
Paper can be accessed at: http://jistecs.org/content/islamic-economics-and-financial-sector-reform
The document discusses several key concepts in corporate finance:
1) It defines finance and outlines the main functions of financial management like forecasting, investment decisions, and managing risk.
2) It explains that the primary goal of a corporation is shareholder wealth maximization, which means maximizing stock price over the long run. However, ethical behavior and responsibilities to society are also important.
3) It describes factors that influence a company's value and stock price, such as the amount and risk of expected future cash flows, and their timing. Investment and financing decisions can impact these value drivers.
NorthStar Realty Finance is a commercial real estate finance company with three primary business lines: commercial real estate lending, real estate securities investment and management, and net leased corporate and healthcare properties. It has $6.8 billion of commercial real estate loans, securities, and properties under management. NorthStar focuses on senior loans, direct origination, and long-term capital raising. It has a seasoned management team with extensive experience and a strong credit track record through economic cycles. NorthStar prioritizes liquidity management, capital retention, and intensive credit risk management during the difficult market environment.
Would you like to invest in something that can provide positive returns no matter what the stock market or economy is doing?
Something that can be compounded easily?
Something that is liquid?
View this presentation to learn about an exciting way to invest your money in something which generates returns that don't depend on whether the stock market is going up or down, real estate prices are going up or down, interest rates are high or low and all the other economic stuff the media reports about. This investment sure doesn't care what the price of gold is or will be!
What is it? Automated system trading in the stock index futures. That may sound like a mouthful, but it is very simple to invest in – the system developer and broker do all the hard work.
The system developer is Gary Hart of Trendfinder Trading Systems. Trendfinder was created with the goal of providing institutional and retail clients with trading systems that provide consistent outsized returns while keeping losses and drawdowns contained. To achieve this goal we offer very short term trading strategies that put a relatively small amount of capital at risk and are in the market only when perceived opportunity is the greatest.
The document outlines procedures recommended by the Financial Action Task Force (FATF) to combat money laundering. Key recommendations include identifying customers, keeping good records of transactions and their origin, reporting suspicious transactions, appointing a money laundering reporting officer, providing training to staff, and implementing internal controls to reduce the risk of money laundering. Procedures such as obtaining names and addresses of individuals and incorporation details of businesses, monitoring large cash deposits, overseas transactions without a clear purpose, and frequent currency exchanges are emphasized.
The document outlines the syllabus for the P7 professional exam. It is divided into 7 sections that cover key audit areas: (1) regulatory environment issues like money laundering and regulations, (2) ethics and applying ethical concepts to scenarios, (3) practice management responsibilities as the commercial head, (4) audit processes from planning to review, (5) other assignments like prospective forensic audits and outsourcing, (6) reporting conclusions and opinions, and (7) current developments and their impact. The exam itself contains 2 case studies testing multiple syllabus areas and 2 from 3 shorter questions focusing on one area each. Successful candidates will demonstrate application of knowledge to scenarios and professional competency.
This document advertises the Insurance Linked Securities Summit Europe taking place April 28-30, 2009 in London. The summit will bring together experts from leading insurance and reinsurance companies to discuss strategies for diversifying catastrophe bond and longevity risk portfolios, as well as developments in life settlements. Attendees can learn about market movements in these areas and opportunities for risk transfer and financing. Interactive pre-conference workshops on April 28th will address managing longevity risk portfolios and the impact of changes to mortality tables.
This document discusses common investment challenges such as randomness of returns, picking winning stocks, timing the market, picking active managers, and the costs of indexing. It then outlines an investment approach focused on strategic partnerships with institutional managers, academically sound portfolio construction, keeping costs low, and HonorVise portfolios. Key points include reviewing evidence that stock returns are random, individual stock picking is difficult, market timing rarely works, and costs are lower with index funds. The approach focuses on dimensions of expected returns including size, value, and market factors.
- Crime rates have been dropping and the economy is booming, yet fear of crime remains a major concern that is exploited for political purposes. Politicians push tough-on-crime policies to appeal to voters' fears despite declining crime.
- Budget cuts to social programs have reduced the safety net for the poor and increased homelessness, pushing some youth into crime out of necessity. At the same time, political efforts criminalize poverty and homelessness.
- Crime is sensationalized by media and politicians to foster demand for harsher laws and policies, even when existing laws could address problems. This "moral panic" is used to pass legislation that primarily serves political rather than practical goals.
This document summarizes various tax considerations and structures for foreign investment in China:
1) It outlines two main investment vehicle options for foreign companies entering China and discusses the advantages and disadvantages of each.
2) It provides an overview of withholding tax rates on dividends from China depending on the jurisdiction of the foreign investor.
3) It presents Hong Kong as a favorable holding company jurisdiction due to its low tax rates and ease of operations in China.
Aberdeen International is a global resource investment company focused on investing in private, micro, and small-cap resource companies. It takes an active role in partnering with and building companies to unlock value. Its portfolio has generated high returns, including 258% over two years. Aberdeen provides shareholders exposure to resource investments with potential for triple digit returns through its unique strategy of seed-level financing and active involvement in partner companies.
This document provides an overview of Centurion Apartment REIT, which invests in income-producing apartment properties in Canada. Some key points:
- Centurion Apartment REIT aims to provide steady monthly income distributions of 8% annually and potential capital growth by investing in rental apartments.
- Investing in apartment REITs offers advantages like reliable income, investment growth, lower volatility compared to stocks, and inflation protection.
- Private REITs like Centurion Apartment REIT may exhibit more stable pricing with lower volatility than publicly-traded REITs which can experience stock market fluctuations.
- Historical data shows the ICREIM/IPD Canada Residential "Apartment" Property
1) A Global Resource Investment Company and Merchant Bank focused on private, micro- and small-cap resource companies through a value-added approach targeting triple digit returns over 2-5 years.
2) It owns a portfolio valued at approximately $61.8 million as of April 30, 2012 and pays shareholders a 4% dividend yield.
3) It leverages the expertise of Forbes & Manhattan to actively build and create value in portfolio companies from seed-level financings through management support and public listings.
1) A Global Resource Investment Company and Merchant Bank focused on private, micro- and small-cap resource companies through a value-added approach targeting triple digit returns over 2-5 years.
2) It owns a portfolio valued at approximately $61.8 million as of April 30, 2012 and pays shareholders a 4% dividend yield.
3) It leverages the expertise of Forbes & Manhattan to actively build and create value in portfolio companies from seed-level financings through management support and public listings.
Registered Capital (RC) and Total Investment (TI) are key terms for foreign-invested enterprises in China that differ from western concepts of share capital and share capital plus loans. RC is the amount registered and paid in, with no shares or par value, and can be injected in installments. TI determines the maximum amount that can be borrowed. RC must come from the foreign parent company and be converted to RMB, while TI and RC ratios restrict maximum borrowing based on the size of the investment. Proper understanding of these terms is important for foreign investors setting up companies in China.
The document discusses listing state-owned Latvian companies on the stock exchange. It notes the potential benefits to Latvia's economy by giving companies access to capital markets and improving transparency/governance. However, some see exchange listing as a precursor to privatization. The presentation aims to encourage constructive dialogue on benefits and allay fears about privatization by distinguishing listing from privatization and citing examples. The strategy involves transparent outreach to stakeholders through meetings and public activities to promote discussion and include the issue on the government's agenda.
Aberdeen International is a global resource investment company focused on building value in private and public resource companies through active management. It has a portfolio valued at $100.1 million consisting of investments in gold, base metals, bulk commodities, agriculture, and energy. Aberdeen leverages the expertise of Forbes & Manhattan to support its investee companies and aims to generate triple digit returns over 2-5 years.
This document discusses sourcing investors and strategic partners for infrastructure projects. It explains that InduStreams has a large network of investors, operators, and cargo owners as well as insight into both industries. InduStreams can identify the most relevant investors and executives for a project, introduce the proposition, and facilitate securing an agreement, typically through a three step process of understanding needs, engagement, and finding 3-5 high relevance investors or partners.
The document discusses Q-Global Inc's Redeemable Preference Share program. It offers 3 packages - Executive, Prime, and Grand - priced from $500 to $3,500 that are redeemed after 16-24 months for guaranteed profits. Investors receive daily dividends from Q-Global's global investments. Brokers can earn bonuses of 6-10% for referrals and pass-ups based on the packages their referrals purchase.
20 the statement ofcash flowschapter twentyafter cossusera34210
The document describes the preparation of a statement of cash flows using the indirect method. It begins by providing background on the statement of cash flows, including its purpose and key sections. It then uses financial statements from a sample ski resort, Alpine Trails, to demonstrate preparing the statement of cash flows using the indirect method. This involves starting with the net income figure and making adjustments to determine the cash provided by operating activities, including adjustments for depreciation, changes in receivables and payables, and other items.
Managed futures can enhance portfolio returns and lower overall volatility through diversification. They provide exposure to over 150 global markets including commodities, currencies, and stock indices. Many funds further diversify by using multiple trading advisors with different strategies. Recent growth in managed futures assets under management has been substantial, increasing over 700% in the last 10 years to over $200 billion as of 2007. Managed futures have benefits such as potential to lower portfolio risk, opportunity to profit in varying economic conditions, and limited losses due to flexibility and discipline.
Presentation by Prof. Volker Nienhaus at Sharia Economics Conference 2013, with the topic: "Islamic Economics and Financial Sector Reform".
Paper can be accessed at: http://jistecs.org/content/islamic-economics-and-financial-sector-reform
The document discusses several key concepts in corporate finance:
1) It defines finance and outlines the main functions of financial management like forecasting, investment decisions, and managing risk.
2) It explains that the primary goal of a corporation is shareholder wealth maximization, which means maximizing stock price over the long run. However, ethical behavior and responsibilities to society are also important.
3) It describes factors that influence a company's value and stock price, such as the amount and risk of expected future cash flows, and their timing. Investment and financing decisions can impact these value drivers.
NorthStar Realty Finance is a commercial real estate finance company with three primary business lines: commercial real estate lending, real estate securities investment and management, and net leased corporate and healthcare properties. It has $6.8 billion of commercial real estate loans, securities, and properties under management. NorthStar focuses on senior loans, direct origination, and long-term capital raising. It has a seasoned management team with extensive experience and a strong credit track record through economic cycles. NorthStar prioritizes liquidity management, capital retention, and intensive credit risk management during the difficult market environment.
Would you like to invest in something that can provide positive returns no matter what the stock market or economy is doing?
Something that can be compounded easily?
Something that is liquid?
View this presentation to learn about an exciting way to invest your money in something which generates returns that don't depend on whether the stock market is going up or down, real estate prices are going up or down, interest rates are high or low and all the other economic stuff the media reports about. This investment sure doesn't care what the price of gold is or will be!
What is it? Automated system trading in the stock index futures. That may sound like a mouthful, but it is very simple to invest in – the system developer and broker do all the hard work.
The system developer is Gary Hart of Trendfinder Trading Systems. Trendfinder was created with the goal of providing institutional and retail clients with trading systems that provide consistent outsized returns while keeping losses and drawdowns contained. To achieve this goal we offer very short term trading strategies that put a relatively small amount of capital at risk and are in the market only when perceived opportunity is the greatest.
The document outlines procedures recommended by the Financial Action Task Force (FATF) to combat money laundering. Key recommendations include identifying customers, keeping good records of transactions and their origin, reporting suspicious transactions, appointing a money laundering reporting officer, providing training to staff, and implementing internal controls to reduce the risk of money laundering. Procedures such as obtaining names and addresses of individuals and incorporation details of businesses, monitoring large cash deposits, overseas transactions without a clear purpose, and frequent currency exchanges are emphasized.
The document outlines the syllabus for the P7 professional exam. It is divided into 7 sections that cover key audit areas: (1) regulatory environment issues like money laundering and regulations, (2) ethics and applying ethical concepts to scenarios, (3) practice management responsibilities as the commercial head, (4) audit processes from planning to review, (5) other assignments like prospective forensic audits and outsourcing, (6) reporting conclusions and opinions, and (7) current developments and their impact. The exam itself contains 2 case studies testing multiple syllabus areas and 2 from 3 shorter questions focusing on one area each. Successful candidates will demonstrate application of knowledge to scenarios and professional competency.
This document advertises the Insurance Linked Securities Summit Europe taking place April 28-30, 2009 in London. The summit will bring together experts from leading insurance and reinsurance companies to discuss strategies for diversifying catastrophe bond and longevity risk portfolios, as well as developments in life settlements. Attendees can learn about market movements in these areas and opportunities for risk transfer and financing. Interactive pre-conference workshops on April 28th will address managing longevity risk portfolios and the impact of changes to mortality tables.
This document discusses common investment challenges such as randomness of returns, picking winning stocks, timing the market, picking active managers, and the costs of indexing. It then outlines an investment approach focused on strategic partnerships with institutional managers, academically sound portfolio construction, keeping costs low, and HonorVise portfolios. Key points include reviewing evidence that stock returns are random, individual stock picking is difficult, market timing rarely works, and costs are lower with index funds. The approach focuses on dimensions of expected returns including size, value, and market factors.
- Crime rates have been dropping and the economy is booming, yet fear of crime remains a major concern that is exploited for political purposes. Politicians push tough-on-crime policies to appeal to voters' fears despite declining crime.
- Budget cuts to social programs have reduced the safety net for the poor and increased homelessness, pushing some youth into crime out of necessity. At the same time, political efforts criminalize poverty and homelessness.
- Crime is sensationalized by media and politicians to foster demand for harsher laws and policies, even when existing laws could address problems. This "moral panic" is used to pass legislation that primarily serves political rather than practical goals.
The document appears to be notes from a parent to a child celebrating Halloween and the child's first birthday. It contains the child's name, references to Halloween and the child turning one year old, and appears to be well-wishes from parent to child on these occasions.
cardinal health UBS Global Healthcare Services Conference 2009finance2
George Barrett, Vice Chairman and CEO of Cardinal Health, presented on the company post-spin. The new Cardinal Health will be a leading provider of products and services across the healthcare supply chain, serving over 50,000 customers with $90 billion in annual revenue. It will focus on the pharmaceutical and medical products segments to provide solutions that improve customer efficiency and quality. Cardinal Health is well-positioned to address evolving industry needs such as cost containment and care coordination due to its broad footprint and capabilities.
JPMorgan Chase First Quarter 2008 Financial Results Conference Call finance2
1) JPMorgan Chase reported earnings of $2.4 billion on revenue of $17.9 billion for 1Q08, down 49% from record earnings in 1Q07. EPS was $0.68.
2) The Investment Bank took markdowns of $2.6 billion related to subprime, Alt-A, prime mortgages, and leveraged lending commitments. It reported a net loss of $87 million on revenue of $3 billion, down 52% year-over-year.
3) The firm increased its credit reserves by $2.5 billion, including $1.1 billion related to the home equity portfolio. It transferred $4.9 billion of lever
This document discusses Open Text's vision for a social workplace and social marketplace called Bloom. Bloom aims to capitalize on social networks, communities, and user-generated content by building these collaborative features on top of Open Text's existing enterprise content management suite. The goal is to allow employees and customers to better communicate, collaborate, and share experiences and ideas through a secure social platform integrated with document management, archiving, and other backend systems. Key benefits are seen as a complete offering combining social features with security, compliance, and the scalability of Open Text's existing products.
The Dutch government is developing a national strategy for open educational resources (OER) through several initiatives. These include OpenER at Open University Netherlands and Delft University of Technology, offering open online courses. The Spinoza Series features courses from top researchers. The Networked Open Polytechnic explores open models for vocational education. Wikiwijs, launched in 2009, aims to be a national platform for teachers to find, create and share OER across all educational sectors. While there is no overarching plan, these diverse but coordinated efforts demonstrate an emerging national OER strategy in the Netherlands.
This document is Berkshire Hathaway's quarterly report filed with the SEC for the quarter ending September 30, 2007. It includes Berkshire's consolidated balance sheets as of September 30, 2007 and December 31, 2006 as well as consolidated statements of earnings for the third quarter and first nine months of 2007 and 2006. Berkshire's businesses are organized into Insurance and Other, Utilities and Energy, and Finance and Financial Products segments. Revenues increased from the prior year periods driven by gains across most business segments. Net earnings for the third quarter and first nine months of 2007 increased significantly compared to the prior year periods.
Morgan Stanley Dean Witter announced its third quarter 2000 financial results. Net income increased 28% to $1.246 billion compared to the third quarter of 1999. Earnings per share were up 31% to $1.09. Net revenues grew 18% to $6.294 billion. All business segments saw increases in net income compared to the prior year quarter, with particularly strong growth in Asset Management (+62%) and Credit Services (+10%). For the first nine months of the year, net income increased 35% and earnings per share grew 38% compared to the same period in 1999.
cardinal health Conference Call Presentationfinance2
This document contains the key details from Cardinal Health's Q1 FY2009 investor call on October 29, 2008. It discusses Cardinal's financial results for Q1, including revenue of $24.3 billion (up 11% year-over-year) and operating earnings of $426 million (down 13% year-over-year). It also provides updates on Cardinal's Healthcare Supply Chain Services and Clinical and Medical Products segments. The document outlines Cardinal's financial goals for FY2009 and assumptions, and addresses questions from analysts on the call.
valero energy Credit Suisse Energy Summit - February 5, 2009finance2
The document discusses the current state of the energy markets and the need for an economic recovery. It notes that U.S. employment and freight shipment numbers are declining sharply. Demand for petroleum has also weakened substantially, leading to excess refining capacity. The document predicts OPEC will cut crude oil production to support prices, and that low oil prices are beneficial for economic recovery and future demand growth. U.S. gasoline inventories are currently in surplus relative to demand.
JPMorgan Chase Conference Call on Acquisition of Bear Stearnsfinance2
JPMorgan Chase is acquiring Bear Stearns in an all-stock transaction valued at approximately $236 million. The acquisition enhances JPMorgan Chase's investment banking and capital markets businesses. It provides significant prime brokerage, clearing, and other services. While there are risks, JPMorgan Chase expects the acquisition to be earnings accretive once fully integrated and generate approximately $1 billion in annual cost synergies. The acquisition requires shareholder and regulatory approval.
valero energy Quarterly and Other SEC Reports 2005 3rdfinance2
This document summarizes a Restricted Unit Agreement between Valero Energy Corporation and William E. Greehey, the CEO of Valero. The agreement grants Greehey 60,110 restricted units representing the right to receive cash payments on vesting dates based on the stock price. The units vest in increments of 12,022 per year over 5 years. If Greehey's employment is terminated without cause, the remaining units will continue vesting; if terminated for cause, unvested units are forfeited. The agreement also provides Greehey with dividend rights during the vesting period.
IFC is a member of the World Bank Group that promotes private sector investment in developing countries. This document discusses IFC's mining investment division and the impact of investment and risk climate on mining investment in Asia. It provides context on IFC's role in the mining sector, current portfolio, and ways it adds value through risk mitigation, environmental and social advisory services, and promoting sustainable development practices. The document also summarizes some of the key political, environmental, and social risks faced by mining projects and strategies to manage stakeholder relations and community impacts.
This monthly newsletter provides an overview of mutual fund industry vital signs (asset growth, sales and performance), product development highlights for the month and interesting facts about our industry.
TaskRabbit, Inc. - Venture Capital Financing Deal Terms & ValuationsVC Experts, Inc.
Deal Terms, Pricing, and Valuations of the latest financing rounds for TaskRabbit, Inc. Similar data on thousands of private companies is available in the Valuation & Deal Term Database at http://vcexperts.com.
The document describes a managed futures program offered by PIA firstcapital. It is a trading division of Price Information Advantage Limited (PIA), which is authorized in the UK. The program trades futures and forex using leverage, which carries high risk. It has a team of experienced traders who actively manage portfolios in real-time. The program offers managed accounts trading futures on major indexes and bonds. Backtested performance shows the strategy has low correlation to stocks and diversifies portfolios.
This monthly newsletter provides an overview of Canadian mutual fund industry vital signs, product development highlights for the month and interesting facts about our industry.
- Waddell & Reed Financial Inc. is a publicly traded investment management company with $1.5 billion in market capitalization and 84.7 million shares outstanding.
- They provide investment management services through distinct distribution channels serving retail, wholesale, and institutional clients. They have a dedicated network of over 2,000 financial advisors and a comprehensive family of mutual funds.
- As of Q1 2009, they have $47.6 billion in total assets under management, with 83% in equity funds and 13% in fixed income funds.
Carfinco Financial Group Inc. is a uniquely positioned auto finance company that has delivered consistent 20% annual growth. It provides financing to "non-prime" credit customers through over 1,600 dealer partnerships across Canada. Carfinco has refined credit risk management practices and vertically integrated operations that have supported strong and growing financial returns, including impressive annual returns on equity of over 50%. The leadership team emphasizes continued growth and maintaining dividend payments.
How are Treasurers funding their companies? How do they make short term investments and manage short term liquidity? How does financial regulation come into play?
The document summarizes a presentation on shell companies. It defines a shell company as a corporation without active business operations or significant assets that is frequently used to shield identities and hide money. It discusses how the Panama Papers exposed politicians and others using shell companies in tax havens for possible tax evasion and money laundering. In response, SEBI placed trading restrictions on 331 suspected Indian shell companies and introduced a graded surveillance framework to alert investors. While the move impacted some investors, it aimed to protect markets and trust by cracking down on the illegal use of shell companies.
The document discusses corporate Sukuk issuance and prospects in Pakistan, particularly for utility and state-owned enterprises. It provides definitions of Sukuk, describes their structure and how they are linked to real assets. Global Sukuk issuance trends are presented, showing growth from 2001-2006. Key considerations for a successful Sukuk market include proper Shariah, legal and regulatory frameworks and developing the interbank market. International experience from Malaysia, UAE, and Bahrain demonstrates the importance of consistent sovereign issuance, innovations in Sukuk products, and developing investor bases. While prospects for Sukuk issuance are large in Pakistan, current issues include the lack of a sovereign Sukuk market and developed inter
The mutual fund industry saw a decrease in assets for April 2012, with starting assets of $669.2 billion, net sales of $2.3 billion, and a market effect of -$5.9 billion, resulting in ending assets of $665.6 billion. The top performing fund categories were Canadian fixed income balanced, global fixed income balanced, and Canadian dividend & income equity funds, while the worst performing were global equity, Canadian focused equity, and U.S. equity funds. Product developments in April included new fund launches focused on emerging markets, managed futures, and Canadian and global equities.
VCSC is a top tier Vietnamese brokerage firm offering brokerage, research, and investment banking services. It has a diverse leadership team and over 100 employees across 3 offices. The firm generates revenue from proprietary trading, brokerage commissions, advisory fees, and other sources. VCSC's core businesses are equities brokerage, research, and investment banking including IPOs, M&As, and capital raising. It aims to provide accurate research and access to unrivaled deal flow for clients.
Securities are offered through Raymond James Financial Services, Inc., member FINRA/SIPC, an independent broker/dealer, and are not insured by FDIC, NCUA or any other financial institution insurance, are not deposits or obligations of the financial institution, are not guaranteed by the financial institution, and are subject to risks, including the possible loss of principal. Raymond James is not affiliated with the financial institution or the investment company. Material prepared by Raymond James for use by its advisors.
The document discusses the turnaround of Sovereign Bank in two phases. Phase I from 2009-2011 focused on stabilizing the bank by improving asset quality, increasing efficiency, and strengthening the balance sheet. Key accomplishments included reducing the ratio of non-performing loans to total loans and increasing the tier 1 capital ratio. The overall goal of phase I was building a strong foundation during a challenging economic and regulatory environment.
The document provides an overview of how the primary and secondary markets in India operate. In the primary market, companies issue new securities to raise funds. This involves intermediaries like merchant bankers. Methods of issuing new shares include public issues, rights issues, and private placements. In the secondary market, previously issued securities are traded among investors on stock exchanges. This involves market participants like brokers, clearing corporations, and depositories. Trading occurs electronically and settlements are done on a T+2 rolling basis to transfer shares and funds between buyers and sellers.
Presentation to Accounting Educators at the Pearson - Presentice-Hall Accounting Symposium in 2009. Includes update of three major trends facing Profession - Globalization - Workforce - Technology
Summit Financial Resources provides various types of working capital financing secured by accounts receivable and inventory assets. They offer factoring facilities ranging from $100,000 to $4 million with advance rates up to 90% of accounts receivable. They also offer ABL flex facilities from $100,000 to $4 million with advance rates up to 85% of accounts receivable and inventory. Additionally, they provide inventory financing of under $1 million with advance rates up to 50% of inventory cost and term loans of under $250 million with advance rates up to 60% of equipment value. Summit has extensive experience in the commercial finance industry and serves small and medium businesses across various industries nationwide.
Basel iii a comprehensive regulatory response february 2011Maan Barazi
dr Amine Awad in the UAB conference - february 2011 presents views on Reasons behind the International Financial Crisis
Major Components of Basel III
Lebanon’s Action Plan to fully implement Basel III
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A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
South Dakota State University degree offer diploma Transcriptynfqplhm
办理美国SDSU毕业证书制作南达科他州立大学假文凭定制Q微168899991做SDSU留信网教留服认证海牙认证改SDSU成绩单GPA做SDSU假学位证假文凭高仿毕业证GRE代考如何申请南达科他州立大学South Dakota State University degree offer diploma Transcript
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办理美国UNCC毕业证书制作北卡大学夏洛特分校假文凭定制Q微168899991做UNCC留信网教留服认证海牙认证改UNCC成绩单GPA做UNCC假学位证假文凭高仿毕业证GRE代考如何申请北卡罗莱纳大学夏洛特分校University of North Carolina at Charlotte degree offer diploma Transcript
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
The Universal Account Number (UAN) by EPFO centralizes multiple PF accounts, simplifying management for Indian employees. It streamlines PF transfers, withdrawals, and KYC updates, providing transparency and reducing employer dependency. Despite challenges like digital literacy and internet access, UAN is vital for financial empowerment and efficient provident fund management in today's digital age.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
New Visa Rules for Tourists and Students in Thailand | Amit Kakkar Easy VisaAmit Kakkar
Discover essential details about Thailand's recent visa policy changes, tailored for tourists and students. Amit Kakkar Easy Visa provides a comprehensive overview of new requirements, application processes, and tips to ensure a smooth transition for all travelers.
Fabular Frames and the Four Ratio ProblemMajid Iqbal
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
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2. The Investment Universe
Investment Universe
Traditional Asset Classes Alternative Asset Classes
Cash Hedge Funds
Bonds Managed Futures
Equities Private Equity
Real Estate Credit Derivatives
• Managed futures are an asset class in their own right
separate from traditional investments such as stocks and
bonds.
4. Managed Futures vs Equities vs Commodities
From Beginning of 1/1980 CISDM CTA Equal S&P 500 (Index) S&P Goldman
Weighted Index Sachs Comm.
To End of 1/2009
Index
Return Total performance +6,009.13 +665.13 +41.38
Return p.a. +15.22 +7.24 +1.20
Risk Maximum drawdown -15.40 -46.70 -61.03
Longest time off peak 20 months 81 months 282 months
Correlation 1.00 -0.10 -0.02
Source: Bloomberg
5. Managed Futures – An Established Asset Class
•The first Managed futures fund or CTA (Commodity Trading Advisor)
was founded by Richard Donchian (“father of trend following”) in 1948.
Donchian
•Many CTAs have 30+ yrs of successful track record: Dunn, Campbell …
•Over 800 CTAs and 1500 CPOs (Commodity Pool Operator) registered
in the US alone. (CBOT) Dunn
•Many leading endowment funds (Harvard, Stanford, Notre Dame) and
state pension funds (Detroit, San Diego) have long been CTA investors.
Campbell
•All four pictured on this page are featured in the bestselling book Trend
Following by Michael Covel.
Baha
6. Advantages of Managed Futures
• Top performing long term investment
• Over 100 futures markets to choose from (commodities & financials)
• Managed Futures = most diversified + least correlated asset class
• Crashes protection when your portfolio needs it the most
• Profits in up or down markets
• Strict risk management
• Interest income on 100% of assets under management
• No predictions, only reactions to real events
• One of the best ways to get exposure to commodities
7. Managed Futures during Up-Market Cycles
*CASAM CISDM CTA Equal Weighted Index: An index of approximately 300 commodity trading
advisers that voluntarily report their performance to CISDM. S&P 500 Total Return: A
benchmark of U.S. common stock performance. It includes 500 of the largest stocks (by market
value) listed in the U.S. It is considered to be the most important benchmark for market
developments in the U.S. Time frame: 01/1980–12/2007
8. Managed Futures during Down-Market Cycles
*CASAM CISDM CTA Equal Weighted Index: An index of approximately 300
commodity trading advisers that voluntarily report their performance to CISDM. S&P
500 Total Return: A benchmark of U.S. common stock performance. It includes
500 of the largest stocks (by market value) listed in the U.S. It is considered to be
the most important benchmark for market developments in the U.S. Time frame:
01/1980–12/2007
9. Superfund Investment Companies
Superfund is a leading Managed Futures provider worldwide
FACTS
• Established in 1996
• 430 employees in 18 countries
• US$1.7 billion assets under
management as of end of 2008
• 50,000 private and institutional
investors
• More than 40 international awards
• More than 12 years successful track
record
PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS
10. Regulatory Authorities
EUROPE ASIA
Austria Germany
France Liechtenstein Japan
Holland
Financial Markets Financial Market
Financial Market Financial Market
Federal Financial Financial Services Agency
Authority Authority
Authority Authority
Supervisory Authority
Hong Kong
Sweden
Poland Switzerland
Luxembourg
Securities and
Futures
Supervisory Commission of Financial Supervisory Federal Banking
Financial Market
Commission
the Financial Sector Authority Commission
Authority
AMERICA – USA Singapore
Monetary Authority of Singapore
Commodity Futures
National Futures
Financial Industry
Securities and
Trading Commission
Association
Regulatory Authority
Exchange
Commission
11. Diversification
Trading in over 100 markets worldwide, managed futures can truly diversify
a portfolio.
PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS
13. Fund Performance
Since 1996: +780.38%, 18.35% p.a.
Since 2000: +567.58%, 23.25% p.a.
Since 2001: +744.40%, 31.67% p.a.
Superfund GOLD A Since 10/05: +159.96%, 33.56% p.a. TRADITIONAL & GOLD
Superfund GOLD B Since 10/05: +202.97%, 39.90% p.a. DYNAMIC & GOLD
Above-average net-performance between
18.35% and 39.90% p.a.1
Up to 1/2009. Past performance is not indicative of future results.
1
14. Superfund A vs Major Hedge Fund indices
From: Beginning of 3/1996 Superfund A CASAM CISDM Credit Suisse
Equal Weighted Hedge Fund MF
To: End of 1/2009 Hedge Fund Index Index
Return Total performance +783.64 +242.97 +176.74
Return p.a. +18.39 +10.00 +8.19
Risk Maximum drawdown -19.93 -21.12 -14.23
Volatility p.a. 23.30 8.04 11.77
MAR Ratio +0.92 +0.47 +0.58
Correlation 1.00 0.06 0.76
Source: Bloomberg
* Superfund Q-AG is a closed fund. Performance results are net of all fees. Past
performance is not indicative of future performance.
15. Superfund A & Superfund B vs MSCI Asia Pacific ex Japan
From: Beginning of 1/2000 Superfund A Superfund B MSCI ac Asia
Pacific ex Japan
To: End of 1/2009
Return Total performance +300.44 +567.58 -10.71
Return p.a. +16.49 +23.26 -1.24
Risk Maximum drawdown -19.93 -28.22 -52.39
Volatility p.a. 24.76 36.01 17.74
MAR Ratio +0.83 +0.82 -0.02
Correlation 1.00 0.96 -0.15
Source: Bloomberg
Note: Superfund Q-AG andSuperfund GCT USD are closed funds. Performance results
are net of all fees. Past performance is not indicative of future performance.
PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS
16. Traditional Portfolio WITHOUT Superfund A Strategy
-40%
+23%
From Beginning of 3/2000 MSCI World JP Morgan DJ Wilshire Sum
(Index) Government Global Real 33 %|33%|34%
To End of 1/2009
Bond Global Estate Sec.
Return Total performance -37.43 +84.93 +20.64 +23.34
Return p.a. -5.12 +2.12 +7.13 +2.38
Risk Maximum drawdown -50.14 -8.08 -64.86 -40.09
Volatility p.a. 15.70 7.37 18.64 11.43
MAR Ratio -0.10 +0.03 +0.88 +0.06
Correlation 1.00 0.05 0.71 0.81
Source: Bloomberg
PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS
17. Traditional Portfolio WITH Superfund A Strategy
-17%
+91%
From Beginning of 3/2000 Superfund A MSCI World JP Morgan DJ Wilshire Sum
(Index) Government Global Real 25%|25%|
To End of 1/2009
Bond Global Estate Sec. 25%|25%
Return Total performance +297.72 -37.43 +84.93 +20.64 +91.47
Return p.a. +16.73 -5.12 +7.13 +2.12 +7.55
Risk Maximum drawdown -19.93 -50.14 -8.08 -64.86 -17.17
Volatility p.a. 24.98 15.70 7.37 18.64 10.89
MAR Ratio +0.84 -0.10 +0.88 0.03 +0.44
Correlation 1.00 -0.23 0.22 -0.13 0.75
Source: Bloomberg
Note: Superfund Q-AG is a closed fund. Performance results are net of all fees. Past
performance is not indicative of future performance.
PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS
19. Superfund + Gold = Superfund
Gold
From: Beginning of 3/1996 Superfund A Hybrid: Superfund Gold Spot $/OZ
To: End of 12/2008 Q-AG * Gold
+783.64 +1,943.10 +131.53
Return Total performance
+18.39 +26.33 +6.71
Return p.a.
Risk Maximum drawdown -19.93 -26.25 -36.20
Volatility p.a. 23.30 30.17 15.82
Source: Bloomberg
Note: Superfund Q-AG is a closed fund. Performance results of Hybrid: Superfund Q-AG
*Gold represent simulated results based on historical data, and are provided for information
purposes only to indicate historical performance had the new product strategy been available
over the relevant period. Past and simulated performance is not indicative of future performance.
20. Superfund Gold – How it works
Gold Funds Performance: FUND PERF. + GOLD OZ PERF.
1,910,449
2,196.55
USD
2,196.55
780.38%
869.75
784.11 +1,810 %
January 2009
1996
PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS
21. Superfund Gold Performance
2005* +17.35% +21.49%
2006 +32.92% +40.32%
2007 +19.28% +16.28%
2008 +32.29% +43.95%
2009** +5.62% +6.17%
Return p.a. +33.56% +39.90%
* Since Inception Oct 05
** As of January 09
PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS
23. Disclaimer
This presentation has been prepared by Superfund Financial (Singapore) Pte Ltd for financial planners
only and is not intended for general public distribution. The information contained herein is for
educational purposes only. This presentation does not constitute either investment advice or an offer or
an invitation to offer to acquire, dispose of, subscribe for or underwrite any of the securities described
herein. All information and data contained herein was obtained through careful evaluation of
information provided by reliable internal and external sources. However Superfund Financial
(Singapore) Pte Ltd or any other members of the Superfund group of investment companies cannot
guarantee the complete validity and accuracy of all figures as well as the illustrated graphs/diagrams.
Performance results shown in this document are net of all fees. Past performance of the financial
products contained in this presentation, especially performance figures of Superfund Q-AG (closed
fund), Superfund GCT (closed fund) and Superfund Cayman (closed fund), are not indicative of future
results for these or any other products. They exclusively serve as a historical presentation of the
performance of their respective trading managers and of certain members of the Superfund Group. No
subscriptions or follow-up subscriptions from existing investors are possible or will be accepted in
closed funds. Fee structures of open Superfund funds may differ from those of closed Superfund funds
identified herein, in which event the future performance of such open funds will likewise differ from said
closed funds.
Financial products managed by members of the Superfund group of affiliated investment companies
are speculative investments. There is a substantial risk of loss in trading futures and options. Every
capital investment contains risks. The value of an investment may fall as well as rise.
24. Disclaimer
Some performance results indicated herein represent simulated results based on historical data, and
not the results of actual trading. The simulated performance of Superfund Gold A strategy is based
first on the actual past performance of Superfund Q-AG (closed fund) since 1996, which is
denominated in EUR. This performance has then been valorized based on the actual performance of
gold (in USD/ounce) on the London Metal Exchange on the respective valuation dates for Superfund Q-
AG (the last banking day of each month). Superfund Gold A strategy, however, did not yet exist during
the time period cited. Your attention is specifically drawn to the fact that this simulated performance is
based on the price of gold in USD and that fluctuations during this time in the USD/EUR exchange rate
have not been considered or included in the simulated performance. The simulated performance
results are provided for informational purposes only to indicate historical performance had the new
product strategies been available over the relevant period. No representation is being made that any
investment will or is likely to achieve results similar to those shown. Past and simulated performance
is not indicative of future results. Although the simulation includes adjustments for certain fees
payable by the new strategies, the simulated performance results may vary once actual fees are taken
into account. Hypothetical performance results have many inherent limitations. No representation is
being made that any investment will or is likely to achieve profits or losses similar to those shown.
THE AUTHOR AND DISTRIBUTORS OF THIS MATERIAL EXPRESSLY DISCLAIM ANY AND ALL
LIABILITY FOR ANY INACCURACIES CONTAINED IN THIS DOCUMENT, AND SHALL NOT BE HELD
LIABLE FOR THE SAME.