The DM Swiss Equity Asymmetric Fund has successfully completed its first year of operation realising a net gain for its investors +2.67%.
"We are extremely pleased to see the fund successfully navigate its way through one of the most challenging environments for investors in living memory." Marc-Etienne Rouge, partner at Delman SA said, "Launching a new fund is a difficult task at the best of times, but to do so, and so successfully in this type of environment is remarkable and a credit to our entire team."
The DM Swiss Equity Asymmetric Fund employs a conservative long/short fundamental stock picking strategy to the Swiss equity market and is co-managed by Urs Heinimann and Adrian Peter at Mirabaud & Cie, Zurich. Both Urs and Adrian are Swiss equity specialists having spent their careers focussed on the sector.
"The performance of the fund this year is a solid endorsement of the skills of the managers and a strong validation of the strategy. We firmly believe that the type of environment we are likely to encounter going forward will be one in which the strategy continues to outperform," added Marc-Etienne.
Delman SA, is a Geneva based company specialising in the creation and the delegation of managed funds, Delman launched the DM Swiss Equity Asymmetric Fund on 30th November 2007 in partnership with Mirabaud and Cie.
9 Dec 2008
Alternative Investors Form Joint Venture to Expand Africa's Telecommunications Infrastructure
Satellite communications company Intelsat is launching a joint venture with a South African alternative investor group led by Convergence Partners.
The joint venture plans to finance, build and launch a new satellite, Intelsat New Dawn, featuring a payload optimized to deliver wireless back haul, broadband and television programming to the continent of Africa, it is expected to enter service in early 2011.
The group recently concluded agreements for financing of the project, which is expected to cost around $250 million. The project is to be funded approximately 15% with equity and 85% with debt, the debt being in the form of non-recourse project financing provided by African institutions. Pre-orders for satellite capacity currently total more than $350 million, with some contracts for up to 15 years of service on the satellite.
"Today marks an important milestone in the development of Africa's infrastructure," Andile Ngcaba, Chairman of Convergence Partners said, "The New Dawn joint venture, with its optimized satellite and African-led financing, represents a solution for Africa by Africa. Over the course of this satellites life, it will provide world-class connectivity, allowing businesses to grow and rural communities to connect. Convergence Partners believes that investments in African projects of this nature can offer superior returns while also accelerating the socio-economic development of the continent."
The joint venture plans to finance, build and launch a new satellite, Intelsat New Dawn, featuring a payload optimized to deliver wireless back haul, broadband and television programming to the continent of Africa, it is expected to enter service in early 2011.
The group recently concluded agreements for financing of the project, which is expected to cost around $250 million. The project is to be funded approximately 15% with equity and 85% with debt, the debt being in the form of non-recourse project financing provided by African institutions. Pre-orders for satellite capacity currently total more than $350 million, with some contracts for up to 15 years of service on the satellite.
"Today marks an important milestone in the development of Africa's infrastructure," Andile Ngcaba, Chairman of Convergence Partners said, "The New Dawn joint venture, with its optimized satellite and African-led financing, represents a solution for Africa by Africa. Over the course of this satellites life, it will provide world-class connectivity, allowing businesses to grow and rural communities to connect. Convergence Partners believes that investments in African projects of this nature can offer superior returns while also accelerating the socio-economic development of the continent."
Hedge Fund Trian Partners to Hold Over 50 Million Fast Food Shares
Hedge fund Trian Partners said that they will buy about 49.4 million shares of fast-food operator Wendy's/Arby's Group for $4.15 per share, or about $205 million.
The hedge fund and their affiliates now own about 21.6% of Wendy's/Arby's, or 52.1 million shares, up from its previous 11.1% stake. In November, Trian Fund Management L.P., led by billionaire investor Nelson Peltz, Peter W. May and Edward P. Garden, said it would buy shares of the fast-food restaurant business for about $4.15 per share.
The deal was subject to certain conditions, including that there would not be a decline of more than 10% in the Dow Jones Industrial average or the S&P 500 index after Nov. 5. Another condition was that Wendy's/Arby's shares would not lose 10% of their value.
Triarc Cos. Inc., which operates Arby's and was run by billionaire investor Nelson Peltz, bought Wendy's in a deal that closed in September.
The hedge fund and their affiliates now own about 21.6% of Wendy's/Arby's, or 52.1 million shares, up from its previous 11.1% stake. In November, Trian Fund Management L.P., led by billionaire investor Nelson Peltz, Peter W. May and Edward P. Garden, said it would buy shares of the fast-food restaurant business for about $4.15 per share.
The deal was subject to certain conditions, including that there would not be a decline of more than 10% in the Dow Jones Industrial average or the S&P 500 index after Nov. 5. Another condition was that Wendy's/Arby's shares would not lose 10% of their value.
Triarc Cos. Inc., which operates Arby's and was run by billionaire investor Nelson Peltz, bought Wendy's in a deal that closed in September.
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