Asset Approach – The Window http://thewindow.net/ Tue, 22 Nov 2022 15:59:34 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://thewindow.net/wp-content/uploads/2021/03/thewindow-icon-150x150.png Asset Approach – The Window http://thewindow.net/ 32 32 How adding venture capitalists can make valuations more accurate https://thewindow.net/how-adding-venture-capitalists-can-make-valuations-more-accurate/ Tue, 22 Nov 2022 15:59:34 +0000 https://thewindow.net/how-adding-venture-capitalists-can-make-valuations-more-accurate/

For dispatchers, more venture capitalists investing in the same company is a good thing.

New research shows that additional venture capitalists can increase transparency — and reduce potential manipulation — of company valuations. This is especially true when venture capitalists operate in close proximity to each other and when their investors are also local.

These are the conclusions of a recent Purdue University study conducted by Shrijata Chattopadhyay, who holds a doctorate in finance. candidate. His work comes at a time when the valuation practices of private equity firms are coming under scrutiny.

Recent losses by grantees in public markets have not yet translated into their investments in private markets, due to a delay in investment reporting, as well as the view by some that the processes of assessment is more of an art than a science.

Venture capital funds, in particular, invest in new, innovative companies that are difficult to value. As Chattopadhyay noted in his post, this leaves reported valuations up to a fund manager. However, the presence of other investors may reduce this discretionary power.

“Union partners can act as peer monitors and reduce misrepresentation by funds,” the newspaper said. “First, they can limit GPs’ discretion in valuing their portfolio companies by being an alternate source of valuation for these illiquid assets. Second, union partners can highlight gaps in [the] reported valuations, prices, capital structure and ownership structure of portfolio companies to LPs. »

Chattopadhyay used data from VentureXpert’s private equity investments module, Preqin’s cash flow database, and Preqin’s limited partner engagement database for the research. She limited the data to funds with vintage years from 1985 to 2016, noting that data before 1985 is sparse, while data beyond 2016 does not include a long enough history of performance data. The total analysis covered 1,344 venture capital funds from 534 companies.

To measure manipulation, it calculated the absolute value of the decline in net asset value that is not reflected in the fund’s net cash outflow. On average, research has shown that the average manipulation of the portfolio is 1.32%. The author noted that in market accelerations – such as the dotcom bubble – there is a spike in portfolio value manipulation.

When a new syndicate partner joins a fund, it reduces performance manipulation by 49 basis points. According to the author, the updated valuation of a company resulting from the new fundraising does not fully explain this decline. In subsequent fundraisers, the effect is similar: the new syndicate partners reduced manipulation by 31 basis points, according to the article.

The problem with manipulation, above all, is not just that of inflating asset valuations. According to the author, some established funds may reduce their investments sooner than they should, by declaring conservative net asset values. The presence of more GPs reduces this “downside bias”, leaving LPs with more investment transparency.

Research has shown that more established companies, as measured by fund rank and age, lead to greater reductions in manipulation. The same goes for union partners that are closer geographically. According to the author, this is probably due to the fact that they can interact with each other more frequently and they can also approach the same sponsors.

“The results show [the need for] LP [to] better oversight of venture capital funds with fewer union partners,” according to the document. “Currently, the responsibility for allocating investors’ money lies [with] LPs, and LPs have been shown to have a limited ability to select funds that outperform their peers. My findings suggest that LPs should pay more attention to VC fund performance metrics with fewer syndicated partners before investing in their follow-on funds.

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Calgary can explore asset-based community development, but what is it? https://thewindow.net/calgary-can-explore-asset-based-community-development-but-what-is-it/ Wed, 16 Nov 2022 19:43:44 +0000 https://thewindow.net/calgary-can-explore-asset-based-community-development-but-what-is-it/

It could start with something simple, like connecting people in a Calgary community. In no time, this snowballs into the beautification of the park, a community garden or more.

At its core, it’s asset-based community development, or ABCD, as it’s often called.

At Tuesday’s executive committee meeting at Calgary City Hall, a notice of motion to explore the ABCD approach in Calgary was forwarded to a full council meeting where it will need to be approved. The motion was brought by Ward Council 12. Evan Spencer.

Great. But what is asset-based community development?

It is a philosophy of community development established in 1988 by John McKnight and Jody Kretzmann at Northwestern University’s Center for Urban Affairs. It was founded on the basic principle that communities should be built based on their strengths rather than their needs.

The belief is that if you focus on small wins in a community rather than the negatives, a stronger social fabric is formed.

“It represents, in large part, just kind of a change in the way service delivery is done,” Spencer told LiveWire Calgary.

“In many ways, it decenters an institutional approach that focuses on the creation of goods and services, and centers the people those goods and services are meant to help.”

Spencer said it takes a city to change its way of thinking to identify, encourage and partner with community assets. It is instead of looking at it from a simple model of delivery of goods and services.

Community building itself is about asset mapping and list building, Spencer said.

“It’s just about better understanding what gifts, what talents, what resources, what experiences people can bring to a given situation, problem or opportunity,” he said.

ABCD – The Essentials -2 by Darren Krause

Empower citizens to solve some of their own neighborhood problems: Coun. spencer

Currently, the city is working on a reporting-based system to address community issues: Calgary 311.

He said the system could foster resentment and frustration with the city if complaints pile up or issues aren’t resolved in a timely manner. ABCD modifies this model.

“The city would work to empower and ask neighborhood citizens to not only report issues, but to get involved in solving some of their own local issues,” Spencer said.

“We’re partnering with them to do that.”

It could be about building community ties to bring people together. ABCD can go much further than that.

Many communities have “assets” in place to clear snow from city streets, but this is not permitted. Communities have expressed their interest in maintaining boulevards, beautifying parks or participating in the construction of the urban canopy. It can be met with city support but is often stuck in bureaucracy.

Leslie Evans, executive director of the Federation of Calgary Communities, said when she inherited the Block Watch program in 2009, she used an asset-based approach to help communities identify the problems they wanted to solve. .

“We’ve had many, many different projects that have actually revitalized parks and made places safer,” Evans said.

They helped start the Community Development Learning Initiative (CDLI), which began as an asset-based operation. She said volunteers or staff work to cultivate the assets of Calgary communities.

“It’s not about doing things for the community, it’s about empowering them to take control of the organization using their existing assets, their employees, the things of their community,” Evans said.

“Like a park that could be run down is always a plus. He just needs to be picked up, for example.

He’s been here, we just call him: Coun. Penner

District 12 Com. Evan Spencer sees firsthand the effectiveness of Malissa Sargent’s fabric covering on his back fence. He removes foxtail seeds. DARREN KRAUSE / LIVEWIRE CALGARY

From an rink adoption program to community playground builds, that kind of work is already underway, the Ward 11 Coun said. Kourtney Penner. Prior to her first term on the board, Penner was president of the Haysboro Community Association. She has seen much of it first hand.

The type of community action — whether it’s vegetable gardens or picking up dog poop — isn’t necessarily called asset-based community development, she said.

“We have a lot. We just didn’t name it for what it is,” Penner said.

“I think part of what we’re doing here is naming the work. We refer to it as a tool to be leveraged in communities.

Spencer, when he was part of the Copperfield – Mahogany Community Association, got a provincial grant to lead the Abundant Communities initiative for a year. The City of Edmonton’s service – Abundant Community Edmonton – is based on the ABCD model.

Dozens of neighborhoods are part of this program, according to the City of Edmonton website.

He has already put it into action as an advisor as well. Earlier this year, Spencer and her Ward 12 office organized a foxtail barley pick-up around the Mahogany Stormwater Pond. City staff were there to facilitate (i.e. help pick and then dispose of the plants), but the community was mobilized to do the heavy lifting.

Evans said they also tried to establish an asset-based model for safe communities a few years ago. At that time, she said she couldn’t get much interest from the city, even if they saw success using the model.

“I think our city is very much about risk management,” Evans said.

“We have a lot of assets, our communities have, and so I think we spend a lot of time in the areas of compliance, as opposed to trying to advance approaches that really engage people and get them to solve The problems.”

“Take Back What We Can”: Spencer

Com. Penner said it’s a great place for the city to show strength as a unifier. The first step is to recognize it, and then to be the centerpiece of all knowledge shared between communities.

“Hopefully that will kind of be part of the goal and the outcome so that we don’t necessarily feel isolated in our neighborhoods and across the city,” she said.

“We learn from each other and are equipped with the language to share it.”

Evans said it doesn’t have to be extensive asset mapping to get started. Just start with the connections, she said. A simple example she brought up was a Whats App community group. Neighbors might post about kids meeting in the park or a family’s need for a Friday night babysitter.

She also recalled a group of southwest Calgary residents cleaning green spaces near a train station. They created a biodegradable mural on the side of a building with people’s faces so there were always eyes of the community on the park.

Its large-scale implementation is also possible. Like the Abundant Community Edmonton model.

“It takes commitment. It takes funding and it takes people committing to it to really get something like this off the ground,” Evans said.

Spencer understands that there are obstacles to this model. Many of them relate to liability. Others are work-oriented. As Evans mentioned, so is funding.

He said it blew his mind though that the city would activate a park or weed a shrub bed and put fresh mulch. City employees can be involved, it just goes to mobilization rather than action, Spencer said.

“I feel like there’s an awful lot to explore,” he said.

“My hope would just be to take back what we can.”

]]> Recommended three-tier approach for insurers to manage social sustainability https://thewindow.net/recommended-three-tier-approach-for-insurers-to-manage-social-sustainability/ Mon, 14 Nov 2022 08:08:06 +0000 https://thewindow.net/recommended-three-tier-approach-for-insurers-to-manage-social-sustainability/

Since its launch by the United Nations (UN), the ESG (environmental, social and governance) movement has become a global phenomenon that is reshaping asset management and the broader business landscape.

According to a recent report by The Geneva Association, despite the triumphant march of ESG, companies, investors and the general public are struggling to understand precisely what role the social or “S” dimension, i.e. the impact of companies on people, should play into investment and business decisions.

A 2019 global ESG survey conducted by BNP Paribas revealed that 46% of investors surveyed considered the “S” to be the most difficult to analyze and integrate into investment strategies.

Unlike environmental and governance issues, social factors are less tangible and come with limited data on how they can impact a company’s performance, the report notes.

It is therefore difficult for a socially responsible investor to assess the strengths and weaknesses of a recipient company in managing stakeholder expectations regarding, for example, working conditions, decent wages, product safety and community impacts.

Stratumn, by SIA Partners

Nevertheless, stakeholders are increasingly expecting companies to have more social impact, the Geneva Association found in its new report titled The Role of Insurance in Promoting Social Sustainability.

The social imbalances caused by the pandemic and the war-induced turmoil and upheavals in global food and energy prices have underscored the need for businesses to pay more
pay attention to the “S”.

Jad Ariss, Managing Director of the Geneva Association, said: “It is clear that companies need to do more to promote social sustainability, especially in light of the repercussions of the pandemic and the Russian-Ukrainian war. Insurers have always been – and will continue to be – at the forefront of this agenda; the very essence of the insurance business is to protect society, provide financial security and peace of mind, and support recovery from shocks. That said, insurers can strengthen their impact in this space and need to address the lack of appropriate measures. We hope that our report will serve as a guide.

The report highlighted the abundant inherent social benefit of insurance in terms of financial stability and peace of mind for individuals and businesses. The Geneva Association estimates that insurers contribute $5-5.5 trillion annually to global financial resilience through insurance claims and benefit payments.

But, in order to further advance social sustainability, the report advises insurers to refine their underwriting and impact investing activities, as well as due diligence on the risks related to their clients, holdings and operations, from human rights violations to algorithmic biases.

In its report, the Geneva Association report proposed an innovative framework for insurers to assess their “social footprint”, inspired by the Greenhouse Gas Protocol’s approach to carbon emissions disclosure.

Scope 1 corresponds to the social impacts of an insurer on its employees. Scope 2 is the insurer’s impact on communities. This can either be directly through its operations and indirectly through its employees.

Scope 3 is described as the most important. These are the social impacts of the insurer along the entire value chain, from risk taking and servicing to investing – upstream (value chain partners) and downstream (customers and beneficiaries).

The Geneva Association has proposed a three-pronged approach for insurers to assess their social impacts under the proposed analogy with Scope 3: the core business of underwriting and investing, c i.e. the provision of risk protection and long-term (“business as usual”) investment funds.

It also includes activities enabled by the explicit integration of ESG considerations into core business, such as improving access to risk coverage for hard-to-insure groups; and efforts to avoid and address potentially negative impacts on employees, customers and communities, for example by not agreeing to projects that may harm indigenous peoples.

Report author Kai-Uwe Schanz, Deputy Managing Director and Director of Socio-Economic Resilience at the Geneva Association, said: “The report recommends that insurers take a three-tiered approach to managing sustainability. social. First, to maximize the intrinsically positive social impacts of insurance; second, to protect those benefits by carefully mitigating potentially negative impacts; and, third, exploring opportunities for commercially viable additional social benefits.

“Based on this approach, we believe that insurers can further strengthen their role in providing socially relevant products and working to fill gaps in protection. This is more important than ever because the transition to a net zero economy must be socially just and inclusive.

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White House: Recent Crypto Crash ‘Further Highlights’ Need for Careful Regulation of Digital Asset Space https://thewindow.net/white-house-recent-crypto-crash-further-highlights-need-for-careful-regulation-of-digital-asset-space/ Fri, 11 Nov 2022 20:00:49 +0000 https://thewindow.net/white-house-recent-crypto-crash-further-highlights-need-for-careful-regulation-of-digital-asset-space/

The White House weighs in on the recent crypto crisis with pro-regulatory comments during a recent press briefing.

On Thursday, White House Press Secretary Karine Jean-Pierre answered questions about US President Joe Biden’s administration’s approach to the crypto sector amid FTX’s highly publicized collapse. this week.

“I am unable to comment on specific actions that independent regulators should or should not take on this particular issue, but what I can say is that the administration is aware of recent developments on this matter and we will just continue to monitor the situation…

The administration has…consistently maintained that without proper oversight, cryptocurrencies risk harming ordinary Americans, so this is something we are clearly monitoring and viewing as a significant issue. But the most recent news highlights these concerns further and highlights why careful regulation of cryptocurrencies is indeed necessary. The White House and relevant agencies will, once again, closely monitor the situation as it develops.

Gary Gensler, chairman of the Securities and Exchange Commission (SEC), told CNBC on Thursday that the crypto industry is largely non-compliant with existing regulations.

“It’s a very interconnected world in crypto with a few concentrated players in the middle and one of those concentrated players would have the toxic combinations of lack of disclosure, customer money, lots of leverage, which means borrow and then try to invest with that. And then when the markets turned against him, it seemed like a lot of customers lost money and that’s where our mission is, it’s about those customers.

Bloomberg News previously reported that the SEC began investigating FTX’s US arm, FTX US, “months ago”.

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Tribunal dismisses HMRC’s appeal and confirms that a tender support vessel was not a ‘relevant asset’ for the purposes of the rules on the activities of oil contractors contained in Part 8ZA of the CTA 2010 https://thewindow.net/tribunal-dismisses-hmrcs-appeal-and-confirms-that-a-tender-support-vessel-was-not-a-relevant-asset-for-the-purposes-of-the-rules-on-the-activities-of-oil-contractors-contained-in-part-8za-of-the-ct/ Wed, 09 Nov 2022 11:51:32 +0000 https://thewindow.net/tribunal-dismisses-hmrcs-appeal-and-confirms-that-a-tender-support-vessel-was-not-a-relevant-asset-for-the-purposes-of-the-rules-on-the-activities-of-oil-contractors-contained-in-part-8za-of-the-ct/

In HMRC v Dolphin Drilling Ltd [2022] UKUT 00212 (TCC) The Upper Tribunal (UT) dismissed HMRC’s appeal and confirmed that a tender support vessel providing tender assisted drilling services was not not a “relevant asset” and that therefore tax deductions claimed by the company under the Oil Contractors Activities Rules contained in Part 8ZA, Corporation Tax Act 2010 (CTA 2010), were permitted.

Background

Dolphin Drilling Ltd (DDL) has provided vessels on a bareboat charter basis to operators in the oil and gas industry. DDL chartered a vessel called the Borgsten Dolphin (the Borgsten) to perform a contract with Total E&P (UK) Ltd (Total), as part of the drilling activities on the Dunbar oil platform (the dunbar).

HMRC concluded that the deductions claimed by DDL in calculating its profits for corporation tax purposes in respect of amounts paid for the rental of the Borgsten should be limited. This was on the basis that the Borgsten was a “relevant asset” within the meaning of Part 8ZA, CTA 2010.

HMRC has issued the following closure notices to DDL:

(1) HMRC amended DDL’s tax return for the year ended 31 December 2014, increasing its chargeable profits by $21,909,895 giving rise to additional corporation tax of £3,034,129 (the amount of the modification was later increased to £4,039,309.26) and

(2) HMRC amended DDL’s tax return for the year ended 31 December 2015, increasing its taxable profits by $20,340,976 giving rise to additional corporation tax of £2,691,385.73.

DDL appealed the closure notices to the Court of First Instance (FTT) on the basis that the Borgsten was not a “relevant asset”, within the meaning of Part 8ZA.

FTT decision

The appeals were allowed.

The FTT concluded that the use of the Borgsten to provide accommodation for personnel working on the Dunbar was unlikely to be more than incidental to the use of the Borgsten to provide tender-assisted drilling services at the Dunbar .

Accordingly, the FTT concluded that the exception in Section 356LA(3), CTA 2010, applied and that the Borgsten was not a “relevant asset”.

HMRC appealed to UT on the following two grounds (having been refused leave to appeal on two other grounds by both the FTT and UT):

(1) the TTF applied an incorrect legal standard in interpreting the relevant legislation; and

(2) the FTT took the wrong approach when interpreting the contract with Total.

UT Decision

The appeals were dismissed.

(1) Incorrect legal standard in interpreting relevant legislation

HMRC’s main argument was that a use which was ‘significant’ could not be ancillary or, in the alternative, a use which was ‘essential’ could not be ancillary. Since there was no definition of “incidental” or “more than incidental” in the context of the exemption, UT was of the view that these words should have their ordinary meaning.

UT noted that, as with all legislative language, words should be interpreted purposefully and construction then applies to facts, viewed realistically. The UT concluded that the TTF did not err in law by declaring that a thing is incidental to another matter if it is subordinate or secondary to it. If a use may be desirable, sought or even important, and therefore not considered as accessory, its accessory nature depends on all the facts of the case and on the fact that this use is subordinate or secondary to another use.

The distinguished UT Robson vs. Dixon [1972] 1 WLR 1493, which concerned the meaning of “merely incidental to”, noting that this was not the same test as that contained in section 356LA(3). In UT’s view, whether one thing is incidental to another is a qualitative rather than a quantitative criterion.

The UT reviewed the approach taken by the FTT in assessing the evidence before it to determine the reasonably expected use of the Borgsten and found that the FTT was justified in approaching the matter before it as it had done so, including taking account of witness testimony and disregarding the opinion of HMRC guidance manuals (which did not relate specifically to the appeal) in reaching its careful and detailed findings of fact.

(2) Wrong approach when interpreting the contract with Total

HMRC alleged that the FTT made the following three errors of law in relation to its second ground of appeal:

(i) in determining whether the exception applied, the contract “takes precedence”, and the FTT should have limited its examination to what that contract says about the use of the Borgsten for accommodation;

(ii) in interpreting the contract, the TTF departed from the general rule that, in drawing up written contracts, the intention of the parties must be established objectively and solely from the terms of the written contract itself ; and

(iii) the FTT agreed without any evidence and concluded that the contractor would have considered the acceleration of the class renewal inquiry to be important in the context of its desire for more accommodation on the Borgsten.

UT rejected HMRC’s second ground, stating that a determination by the FTT of whether the exemption applied required a determination of the uses of the vessel and that this exercise involved a multi-factor assessment, in which the contract would have been important. In UT’s view, it was proper for the FTT to consider all relevant evidence before it, including witness testimony. UT said it was simplistic to say that it is a rule of contractual interpretation that matters outside of a written contract cannot be considered. UT viewed HMRC’s third argument as a Edwards vs. Bairstow ([1956] AC 14) argument and concluded that the high threshold required to reconsider findings of fact had not been met in this case.

Comment

Although this decision will be of particular interest to those working in the oil and gas industry, the analysis of paragraphs 63-89 of the UT decision provides useful information and guidance on the meaning of the word “accessory”, which is a term used in other fora throughout the tax system.

HMRC has sought leave to appeal UT’s decision to the Court of Appeal and assuming leave is granted it will be interesting to see if this Court disagrees with the FTT and UT.

The decision can be viewed here.

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West Ham are preparing an approach for a creative spark that Moyes could seize before his former club https://thewindow.net/west-ham-are-preparing-an-approach-for-a-creative-spark-that-moyes-could-seize-before-his-former-club/ Sat, 05 Nov 2022 19:48:15 +0000 https://thewindow.net/west-ham-are-preparing-an-approach-for-a-creative-spark-that-moyes-could-seize-before-his-former-club/

Isaiah Jones, Michael Carrick, Middlesbrough, November 2022 Credit: Alamy

David Moyes is reportedly keen to sign Middlesbrough full-back Isaiah Jones as he sees something that ‘could improve’ West Ham.

Jones has been one of Middlesbrough’s most valuable assets over recent seasons. Indeed, he was the club’s leading assist provider last season, with nine.

He also popped up with a goal, while mostly playing in a wing-back role.

This season he has continued his trend of being a useful asset up the pitch. The 23-year-old netted twice, as well as three assists.

He has shown his quality in more than league football. Jones proved a nuisance for Tottenham when Middlesbrough beat them in a shock 1-0 victory in last season’s FA Cup.

He has also shown his versatile nature throughout his career. Although he mostly plays as a winger, he can play a more advanced role.

It was around the time Middlesbrough beat Tottenham that links between Jones and some big teams emerged.

Following his performance, Spurs reportedly asked the championship team to keep them informed on his future.

Tottenham weren’t the only big team to show an interest. Manchester United, West Ham and Crystal Palace were all named as teams watching Jones.

West Ham back for Isaiah Jones

Considering West Ham had been interested in Jones before, it’s no surprise that they once again threw their hats in the ring. It looks like the time may be right for the Hammers to give the trap a try.

That’s when Moyes now sees a future for Jones at the club, according to journalist Peter O’Rourke.

“So obviously David Moyes sees this as something that he thinks could improve his West Ham squad at the moment,” he said. Football Transfer Tavern.

Indeed, Moyes might not have wanted to jump to Jones last season as his side were in good shape. The Hammers battled for a top-four spot for much of the season, before eventually slipping to a seventh-place finish.

Currently, however, they are firmly placed in the middle of the table, having won just four games. As such, now might be the time to make some improvements to the team.

Jones has shown he can play against Premier League opponents before.

In addition, he has retained his good form from the start of the current campaign. As such, he could definitely add something to the West Ham squad.

Man Utd were previously linked with Jones. While there haven’t been any signs of interest lately, that doesn’t mean they’re still not watching him.

As such, Moyes could beat his former side to the transfer. The fact that Michael Carrick – who played under Moyes – is now at the helm of Middlesbrough could help the Hammers trap Jones.

The West Ham article setting the stage for a creative spark Moyes could snatch before his former club first appeared on Teamtalk.com.

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VMware: Blockchain for Ethereum Wins Customers and Creates Momentum for the Ecosystem https://thewindow.net/vmware-blockchain-for-ethereum-wins-customers-and-creates-momentum-for-the-ecosystem/ Thu, 03 Nov 2022 12:13:33 +0000 https://thewindow.net/vmware-blockchain-for-ethereum-wins-customers-and-creates-momentum-for-the-ecosystem/
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To drive enterprise adoption of Ethereum, VMware has launched VMware Blockchain for Ethereum, available in beta. Two months after its debut, 100 customers are participating in the beta program. Today, VMware is announcing new enterprise features for an upcoming VMware Blockchain for Ethereum beta. Additionally, VMware is announcing strategic customer Tel Aviv Stock Exchange as well as new integrations with Fireblocks and Web3 Labs – which innovate with VMware’s Ethereum-enabled blockchain platform.

Blockchain technology offers a revolutionary business transformation opportunity for enterprises by enabling them to create distributed network ecosystems, multi-party applications and digital asset experiences. VMware Blockchain for Ethereum builds on VMware’s enterprise blockchain platform to enable enterprises to easily build, efficiently operate, and rapidly scale Ethereum-based blockchain networks. It also gives customers flexibility and choice by adding support for Ethereum on top of its existing support for the Daml smart contract language.

“VMware Blockchain’s Strong Response to EthereumbetaThe launch is a testament to the vision we have set for ourselves as a company: To bring enterprise-grade blockchain technology to the biggest companies and brands on the planet. We are proud to have leaders like the Tel Aviv Stock Exchange, Fireblocks, Web3 Labs on this journey with us,” said Kit Colbert, Chief Technology Officer, VMware.

Customer co-innovation

The Tel Aviv Stock Exchange and the Israeli Ministry of Finance will prepare for the issuance of government bonds on a new blockchain platform. Project Eden is a pilot issuance of digital government bonds by digital asset technology leaders, VMware and Fireblocks.

“The Tel Aviv Stock Exchange is proud to partner with VMware and Fireblocks to create a globally recognized digital asset exchange to issue and trade tokenized government bonds and other digital assets in the future. The platform transformational platform will be based on leading blockchain, smart contract, and tokenization technologies.We chose VMware Blockchain as the proven blockchain foundation to exceed stringent business requirements and scale TASE’s five-year strategic plan. form should benefit the exchange, its custodians and their customers by reducing costs, shortening the time periods involved in issuing and clearing government bonds, increasing transparency and reducing risk” said Orly Grinfeld, senior vice president of clearing at the Tel Aviv Stock Exchange.

Ecosystem integrations

VMware is pleased to announce two new strategic integrations with VMware Blockchain for Ethereum customers to leverage to rapidly build end-to-end solutions.

Fireblocks is an award-winning digital asset and crypto technology platform used by over 1,500 clients. Fireblocks supports VMware Blockchain for Ethereum for institutional level, issuance, exchange and custody of digital assets.

“Leveraging the technical and security expertise of Fireblocks and VMware, regulated financial institutions such as the Tel Aviv Stock Exchange can securely issue, store and transfer digital assets without compromising operational efficiency for customers and sales teams,” said Michael Shaulov, CEO. at Fireblocks. “As the world continues to digitize, it is essential to have a reliable, reliable and scalable technology layer so that enterprise customers can integrate their large-scale digital asset operations in fast-growing markets.”

Web3 Labs is a leading Web3 and blockchain technology and strategy company specializing in enterprise solutions. Their Web3j library makes it easy to build Ethereum applications with the Java platform. Since its inception in 2016, it has been downloaded over two million times and is widely used in a number of enterprise blockchain initiatives, from building next-generation financial market infrastructures to identity platforms. . Alongside their Eprirus data and analytics platform, which is coming to VMware Blockchain, Web3j provides key infrastructure to integrate blockchain networks into the enterprise.

“We are extremely excited to partner with VMware, a world-class software brand to drive enterprise adoption of the Ethereum technology stack. VMware Blockchain for Ethereum supports Web3j out of the box. This enables developers Java to work with Ethereum blockchains, without the We look forward to deeper integrations with VMware Blockchain in the future,” said Conor Svensson, Founder and CEO of Web3 Labs and best-selling author of The Blockchain Innovators Handbook.

What’s new in the next beta

Designed for enterprise use cases, VMware Blockchain for Ethereum is an EVM-enabled platform that will deliver high-throughput performance, unique ZKP-based programmable privacy capabilities, enterprise-grade operations, and governance features.

In the upcoming beta (1), VMware continues to fill the gaps of enterprise Ethereum with two new features:

Privacy SDK

The beta will introduce a privacy SDK allowing developers to build and test an end-to-end private token transfer dApp. The SDK consists of a client-side Zero Knowledge Proof library that interacts with on-chain Solidity token contracts using standard JavaScript integration libraries such as Ethersjs or Web3js. Token contracts can be modified to change token details, token supply, and privacy budgets. The SDK enables Zero Knowledge proof generation, and on-chain token contracts leverage precompiled contract code to perform proof validation. With this approach, the complexity of Zero Knowledge Proof cryptography is taken away from developers, allowing them to focus on dApp and token design.

Governance controls

VMware’s approach is to leverage both smart contract-based governance actions to control network membership, as well as a powerful BFT reconfiguration framework. This allows upgrades, key management, adding/removing consensus members, and other operational tasks to be performed in a reliable and authenticated manner (i.e. operations performed with guarantees byzantine trusts by a set of unreliable operators). Together, these approaches will provide enterprise customers with rich yet easy-to-use governance features that meet most business needs.

The beta release supports standard Ethereum APIs, commonly used developer tools like Truffle, Hardhat, Remix, Web3j, Ethersjs, and wallets like MetaMask and Fireblocks to enable a seamless developer experience. To get started quickly, Solidity developers can deploy the new VMware Blockchain SDK for Ethereum on their local machine or a Linux virtual machine on any cloud platform.

Join the beta program

Customers interested in joining the VMware Blockchain for Ethereum beta program, click here to register. Visit our blog for more information on VMware Blockchain for Ethereum, click here.

(1) VMware Blockchain’s next beta for Ethereum is expected in VMware’s Q4 FY23.

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Flydocs signs agreements with Neos and Lufthansa Technik https://thewindow.net/flydocs-signs-agreements-with-neos-and-lufthansa-technik/ Sun, 30 Oct 2022 23:59:55 +0000 https://thewindow.net/flydocs-signs-agreements-with-neos-and-lufthansa-technik/

https://www.interairport-southeastasia.com/en-gb/lp/exprom-2.htmlFlydocs has announced the signing of a comprehensive five-year agreement with Neos to digitize records and asset management for its entire aircraft fleet of 15 aircraft. As part of this strategic partnership, flydocs will support the Italian airline with digital records management and technical services.

Neos, the first Italian airline to be certified under JAR OPS since its inception, will receive a seamless interface of enhanced flydocs integration with M&E’s leading software, AMOS, to support on-demand aircraft digital compliance and adopt a completely paperless approach to its records and asset management.

John Bowell, Commercial Director at flydocs said; “It is a great pleasure for us to partner with Neos, an airline with high-level operational capabilities, agile and committed to helping us create the best asset management software to meet the growing demands of the airline industry. Neos is committed to becoming paperless with flydocs and AMOS combined, to deliver improved operational efficiency. It is a privilege to be chosen as the asset solutions partner of choice in the aviation industry. In this trip, we look forward to working with them on the digital records management software.”

Ivan Albini, Continuing Airworthiness Manager at Neos, said: “We are committed to providing the best solutions to strengthen our business with the latest digitized technologies for our customers. Our airline and its aircraft operate under the strictest certification standards, which reflect the quality and reliability of the maintenance performed by the in-house technical department. With a diverse network, we constantly strive to provide the best services to our passengers. The alliance with flydocs, a global leader in digital records management, will add immense value as we will benefit from the digital capabilities they provide to drive cost savings and operational efficiencies. With this collaboration, we see a great opportunity to develop our digital infrastructure for smoother integrations.

Flydocs and Lufthansa Technik announce new collaboration
Flydocs and Lufthansa Technik have launched new rental asset management software. The new software will provide tailored metrics to continuously optimize leases and ensure a smooth and timely handover of aircraft to the lessor. In addition to preparing the aircraft and documentation for cost-effective disposal, it will also offer an aircraft assessment where the condition of the aircraft and its documents will be reviewed to minimize risk.

Commenting on the launch, Mark Bunting, Product Manager – Asset Management and Artificial Intelligence at flydocs said; “We are pleased to announce this latest strategic partnership with Lufthansa Technik. With our state-of-the-art technology, customers in the aviation community will not only be able to save money throughout the rental period, but also benefit from unparalleled control of any deviation from rental requirements. We have created a highly customizable, scalable and affordable flexible solution to meet the exact needs of simplified and automated fleet planning for leased or owned assets. The new application aims to reduce the effort and time required throughout the rental period while optimizing costs throughout the asset lifecycle to ensure contract compliance. At flydocs, we continuously develop innovative digital solutions together with Lufthansa Technik, which is one of the world’s leading aviation technical service providers.

Matthias Kuehlbauch, Head of Lease and Aircraft Asset Transition Services, Aircraft Engineering at Lufthansa Technik AG, said; “Selecting the right technology platform is crucial for our services to effectively scale our business model and thrive. flydocs is this powerful digital foundation for our business. By combining our expertise in Asset, Leasing and Transition Management at Lufthansa Technik Aircraft Engineering Services, flydocs helps us adapt process automation to meet changing business needs. Their professional developers offer a full range of digital solutions for carriers and lessors around the world. Lufthansa Technik Aircraft Engineering Service worked with flydocs to design this new product, which will help airlines reduce the huge costs of their leased aircraft and reduce effort at the end of the lease. Partnering with flydocs will accelerate digital innovation across our business functions, as they understand that professionals need to be able to rely on their industry partners for rental asset management. I believe that this great development will allow us to strengthen the positions of flydocs and us by facilitating the management of assets, rental and transition.


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]]> Busting the myth around risk profiling https://thewindow.net/busting-the-myth-around-risk-profiling/ Fri, 28 Oct 2022 12:30:00 +0000 https://thewindow.net/busting-the-myth-around-risk-profiling/

By Nidhi Manchanda

Knowing your risk appetite is a crucial step before starting an investment journey. However, relying solely on him to make all investment decisions is also not advisable. There is a way to best use it and this article will walk you through the “How” of it all.

But, before breaking the biggest myth of “Investing only according to your appetite for risk”. Let’s start with the basics first.

How can you know exactly your risk appetite?

The most popular way to do this is to complete a risk profiling questionnaire. This questionnaire is designed to find out your ability to take risks and your risk tolerance.

Risk-bearing capacity will depend on factors such as age, income, number of dependents, etc. Risk tolerance, on the other hand, is primarily understood by asking questions such as, “How would you feel if your investments dropped by 20% or more?” or “Will you always stay invested?” Or will you withdraw to limit your losses? »

The answers to these types of questions would give an idea of ​​whether a person has a high risk tolerance or a low risk tolerance.

Understanding the different risk profiles

Well, if anyone has been investing for a while, they must have come across these risk profiling questionnaires that determine an investor’s ability to take risk and overall risk behavior. The outcome of these risk profiling questionnaires will generally inform the individual which of the five risk profiles below is theirs;

  1. very aggressive
  2. Aggressive
  3. Moderate
  4. Conservative
  5. very conservative

Usually, based on the risk profile, an asset allocation is offered to an investor. A very aggressive investor would be recommended to invest 100% of the money in high risk investments such as equity market, PMS, small and mid cap stocks or sector exposure.

But is it right to invest 100% in highly volatile assets even if he is a very aggressive investor? Do we also assume, for short-term goals, to invest in highly volatile assets?

Likewise, a very conservative investor would mainly be recommended to invest only in low-risk investments such as FDs, RDs, PPFs, mutual funds, etc.

But shouldn’t we encourage such an investor to have some equity exposure for long term goals and educate the investor that it is hard to beat inflation by continuing with low risk, low return investments ? Going against the result of a person’s risk profile from these questionnaires can help build wealth.

It is therefore difficult to follow the risk profiling questionnaire directly as a first step. Some of these challenges are;

Two major challenges with this approach

1. Investor bias – When answering a typical risk profiling questionnaire, do investors mean what they answer? Speaking from people’s experience of dealing with clients, most people say they are not willing to take very high risks even if they want higher returns. Additionally, investors who have told their financial planners that they are very aggressive end up withdrawing their money after watching the markets drop 10-15%. Are they very aggressive? This is also true in another way for conservative investors. Also, often the investor himself is unsure of his risk tolerance, especially new investors.

2. Avoid the investment horizon – In the event that an individual obtains a very aggressive risk profile as a result because he or she is young, has no dependents, etc. The suggested asset class would be primarily stocks. However, what if most of that particular individual’s goals are short term and high priority? It is not suggested to invest in high risk investment options like stock markets for a one year target. Although the investor is asked about the investment time horizon in the risk profiling questionnaires, he is limited to selecting a single option. The goals can range from 0 to 30 years and the quantum of the goals can also be very different.

Due to the above two challenges, one should not blindly follow the risk profile as the only step in deciding the asset allocation within the investment strategy.

So what are the solutions and the right approach?

While it’s important to know your risk appetite, simply investing based on your risk appetite isn’t a very wise choice. Follow the steps below.

Step 1 – List your goals

Make a list of all the financial goals you would like to achieve in the future. It can be the purchase of a vehicle, a house, going on vacation, higher education, the education of children or marriage, retirement, etc.

Step 2 – Create 3 groups of short term, medium term and long term goals

After listing the financial goals, next to each goal, write the time horizon to achieve each goal. Sort all goals into 3 categories – short term, medium term and long term goals.

Short term would be goals that go up to three years. Medium-term goals would be those that are between 3 and 5 years. Any goal that has a time horizon of 5+ years is placed in the long-term bucket.

Step 3 – For each goal basket, create a risk profile

An individual cannot have a single risk profile, but rather take different levels of risk according to different financial goals. The basket of short-term goals should include low-risk investments. It is suggested that medium-term objectives be achieved through medium-risk investments. Have long-term exposure to high-risk investments like the equity asset class.

Investor risk appetite will play a role here. Let’s say that in the long-term goal, a person with a conservative risk profile should invest in index or large-cap mutual funds, and a person with an aggressive risk profile is recommended to invest in stocks. fundamentally sound small cap stocks.

Based on this, create an asset allocation strategy, i.e. how much to invest in stocks, debt, gold, real estate and alternative assets.

Step 4 – Check your overall asset allocation

The last step would be to check if the individual is not overexposed to a particular asset class. If so, the person should make some changes in consultation with the financial planner.

All of this may sound complex and therefore it is highly recommended that you consult a financial expert for assisted financial planning services to take care of all of this and more. Simply checking risk profiles online and starting to invest may not be the best and wisest decision.

So use risk profiling the right way.

(The author is a certified financial planner and responsible for training, research and development at Fintoo. The opinions expressed above are those of the author and not necessarily of financialexpress.com)

]]> LGT targets India https://thewindow.net/lgt-targets-india/ Wed, 26 Oct 2022 00:09:21 +0000 https://thewindow.net/lgt-targets-india/

LGT, the international private banking and asset management group owned by the Princely House of Liechtenstein, is expanding its Asian presence in the wealth management market.

This week, LGT launched LGT Wealth India, to offer wealth management services to clients in India through its India entity.

Majority-owned by LGT Group, LGT Wealth India operates in 14 cities across India, including Mumbai, Delhi, Chennai and Bengaluru, the company said in a statement yesterday.

LGT Wealth India said it is gaining a foothold in the Indian wealth management market and strengthening its presence in Asia, with offices in Hong Kong, Singapore, Thailand, Australia and India.

LGT Wealth India is a private limited company, registered with the Securities and Exchange Board of India as a portfolio manager to provide financial services to its clients.

Atul Singh, Director and CEO of LGT Wealth India, has over two decades of experience with multinationals and the Indian private banking sector. Singh has also held senior positions in leading international institutions overseas and domestically.

Singh said, “Our goal is to offer a new approach to wealth management. The plan is simple: put our customers first by providing seamless service, designed around what works for them. »

“We have attracted some of the industry stalwarts and top talent, bringing together deep experience across multiple asset classes. Our employees have extensive wealth management experience gained from some of the world’s leading financial institutions. By working closely together, we can leverage our varied skills and knowledge, allowing us to treat each portfolio individually and meet the unique needs of each client,” he added.

HSH Prince Max von und zu Liechtenstein, Chairman of LGT, said: “As a private family business owned by my family, the Princely House of Liechtenstein, for over 90 years, we have always valued long-term collaboration. on short-term growth.

“Combining our historical expertise in managing large assets with our entrepreneurial approach has allowed us to grow continuously and sustainably. By combining the expertise of a global private bank with an experienced and permanent team of India specialists, we are committed to supporting our clients in India and generating sustainable long-term value,” he continued. .

LGT manages assets of 284.7 billion Swiss francs ($297.4 billion) for high net worth individuals and institutional clients, working from more than 20 locations in Europe, Asia, America, Australia and the Middle East. East.

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