Tortoise | Jotup

Investor group NewGAMe and Bruellan raises serious concerns about the risk of a liquidity mismatch at major Liontrust fund

Retrieved on:

Monday, July 31, 2023

Risk management, GAM (company), SWX, Acquisition, GAM, Liontrust Asset Management, GBP, Om, Tortoise, Risk

Geneva, 31 July 2023 – The investor group comprised of NewGAMe SA and Bruellan SA, which controls approximately 9.6% of the issued share capital of GAM Holding AG [GAM:SWX] (“GAM”), has raised serious concerns about liquidity and risk management at one of Liontrust’s largest funds.

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Geneva, 31 July 2023 – The investor group comprised of NewGAMe SA and Bruellan SA, which controls approximately 9.6% of the issued share capital of GAM Holding AG [GAM:SWX] (“GAM”), has raised serious concerns about liquidity and risk management at one of Liontrust’s largest funds.
An open letter, written by NewGAMe director Albert Saporta to Liontrust CEO John Ions, lists
several concerns about Liontrust [LIO:LN] as a bidder for GAM.
Up to 40% of AuM could be considered not liquid or outright illiquid under certain market circumstances.
The answer is no: there are too many red flags – not least the risk that Liontrust experiences a Woodford-style liquidity mismatch at its largest fund.”
NewGAMe’s open letter to Liontrust can be found here:

Investor group NewGAMe and Bruellan asks Swiss Takeover Board to impose final deadline on Liontrust’s offer for GAM and raises serious concerns about the risk of a liquidity mismatch at major Liontrust fund

Retrieved on:

Monday, July 31, 2023

GAM (company), Tortoise, Om, Risk management, GAM, EGM, Acquisition, Risk, Letter, GBP, Cryptocurrency, Management, Liontrust Asset Management

This deprives GAM shareholders of much-needed certainty when casting their vote at GAM’s upcoming EGM.

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This deprives GAM shareholders of much-needed certainty when casting their vote at GAM’s upcoming EGM.
In an open letter, written by NewGAMe director Albert Saporta to Liontrust CEO John Ions, NewGAMe also raises serious concerns about liquidity and risk management at one of Liontrust’s largest funds as one of the many reasons for not tendering to the exchange offer.
In its letter to the TOB, NewGAMe raises an important issue arising from Liontrust’s double extension of its GAM offer:
The first tender offer period was due to end on 25 July.
Red flags are popping up everywhere and we encourage fellow GAM shareholders to hold on to their shares and ignore Liontrust and GAM’s fearmongering.”
NewGAMe’s letter to the TOB can be found here:

Saba Capital Files Lawsuit Against 16 Closed-End Funds Over Control Share Provisions

Retrieved on:

Thursday, June 29, 2023

Saba Capital Management, L.P. (“Saba” or “we”) filed a lawsuit today in the United States District Court for the Southern District of New York against 16 closed-end funds (the “Funds”) advised by BlackRock, Inc. (“BlackRock”), Franklin Resources, Inc. (“Franklin Resources”), Tortoise Capital Advisors, L.L.C.

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Saba Capital Management, L.P. (“Saba” or “we”) filed a lawsuit today in the United States District Court for the Southern District of New York against 16 closed-end funds (the “Funds”) advised by BlackRock, Inc. (“BlackRock”), Franklin Resources, Inc. (“Franklin Resources”), Tortoise Capital Advisors, L.L.C.
Similar to prior lawsuits Saba brought and won against Eaton Vance and Nuveen, Saba is seeking to invalidate the Funds’ control share provisions as unlawful under the Investment Company Act.
Previously, on January 21, 2023, the Suffolk County Superior Court in Massachusetts issued a summary judgment ruling in favor of Saba that invalidated Eaton Vance’s control share provision as a violation of the Investment Company Act.
We are seeking to hold these managers accountable in court, just as we have successfully done with both Eaton Vance and Nuveen.

Capital Square Appoints Stuart Bahnmuller as Senior Vice President, RIA Product Specialist

Retrieved on:

Thursday, April 20, 2023

REIT, RIA, FINRA, Capital Square, RIAS, University, Tortoise, Financial adviser

"Stuart Bahnmuller is a proven leader who will introduce the RIA community to Capital Square's industry leading Delaware statutory trust/1031 exchange programs, opportunity zone funds, apartment REIT and development funds.

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"Stuart Bahnmuller is a proven leader who will introduce the RIA community to Capital Square's industry leading Delaware statutory trust/1031 exchange programs, opportunity zone funds, apartment REIT and development funds.
Prior to joining Capital Square, Bahnmuller served as senior vice president of RIA sales at a national real estate sponsor, where he was responsible for introducing DST/1031 exchange programs to RIAs nationally.
Previously, Bahnmuller was vice president of East Coast sales at Platform Ventures, where he led capital raising efforts for DST/1031 programs and qualified opportunity zone funds.
The addition of Stuart Bahnmuller, a proven professional, will help accelerate our reach as we expand access to non-correlated real estate programs sponsored by Capital Square."

United States Online Grocery Market Report 2022-2028 with Focus on Offerings from Walmart, Amazon, Kroger, Fresh Direct, COSTCO, Maplebear, Thrive Market, Target, Safeway, Shopfoodex

Retrieved on:

Friday, February 17, 2023

Around 299 million people in the United States used the internet in 2021, an increase from over 288 million in 2020.

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Around 299 million people in the United States used the internet in 2021, an increase from over 288 million in 2020.
In the United States, more people are choosing to shop grocery online without trouble due to their busy schedules and heavy reliance on smartphones.
Adults' internet uses also drive the online grocery market in the United States.
Company Profiles: Detailed analysis of the major companies present in United States online grocery market.

United States Online Grocery Markets, Analysis, Forecasts, & Opportunities, 2028F: Adopting Business Model for Click and Collect OR Buy Online Pick-up In Store (BOPIS) Fueling Market Growth - ResearchAndMarkets.com

Retrieved on:

Thursday, December 22, 2022

Around 299 million people in the United States used the internet in 2021, an increase from over 288 million in 2020.

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Around 299 million people in the United States used the internet in 2021, an increase from over 288 million in 2020.
In terms of online audience size, the United States is one of the largest internet markets in the world, following only China and India.
In the United States, more people are choosing to shop grocery online without trouble due to their busy schedules and heavy reliance on smartphones.
Adults' internet uses also drive the online grocery market in the United States.

Daniel George Launches New Eyewear Collection

Retrieved on:

Monday, October 17, 2022

Time, Element, Tortoise, Man, Nose, Woman, Collection, Fashion

Daniel George has launched a new collection of unisex eyewear.

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The brand's namesake creative director has turned his keen eye for style and refinement to eyewear, starting with two pairs of sunglasses to launch the Daniel George eyewear collection.
The detailed design and precise proportions ensure that while Daniel George eyewear is close to weightless, it is far from fragile.
The Daniel George eyewear collection; introduced in two compositions - the classic Tortoise and a lighter Tobacco shade.
The Daniel George eyewear collection launched on the 1st of October and is now available to purchase from the Daniel George website.

A New Conservation Initiative is coming to Blockchain; Introducing: Black Rhino

Retrieved on:

Monday, May 9, 2022

Black Rhinos focus is to bridge the gap between real-world wildlife conservation (species conservation, habitat and climate protection) and opportunities in blockchain technology.

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Black Rhinos focus is to bridge the gap between real-world wildlife conservation (species conservation, habitat and climate protection) and opportunities in blockchain technology.
Black Rhino will launch their genesis Non-fungible tokens (NFT) project coming in May 2022 called The Early Adopters Collection.
For this collection, Black Rhino has partnered with Keep Nature Alive to support BioRescue in their mission to save the Northern White Rhino species from extinction.
This is the first step towards looking at modern technologies, says Brandon Samuel, co-founder of Black Rhino.

KRAVEBEAUTY LAUNCHES SUSTAINABILITY FOCUSED CAMPAIGN TO RESET BEAUTY INDUSTRY

Retrieved on:

Friday, April 22, 2022

Hare, Multimedia, Carbon, Industry, View, The Tortoise and the Hare, Juxtaposition, Tortoise, Entertainment

3,000 new beauty brands launch every year and in 2019, more than 3,100 skincare products launched in the mass category--and that's just in the US. Between investors pushing for high growth, retailers overfilling shelf space, and customers' demand for constant newness, skincare has ballooned into a hypercompetitive industry that necessitates brands produce more to stay alive. Meanwhile, it's killing our planet.

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3,000 new beauty brands launch every year and in 2019, more than 3,100 skincare products launched in the mass category--and that's just in the US.
For example, it's estimated that 120 billion units of packaging are produced by the global cosmetics industry every year.
This April, they're launching the Slow Down Skincare initiative to #PressReset on the over productive pace of the beauty industry.
KraveBeauty hopes to use its initiative to inspire and partner with other sustainability-minded brands to maximize the impact on the industry.

C-Beauty Brand Florasis Launches Eastern Beasts Sculpting Makeup Palette

Retrieved on:

Friday, April 22, 2022

Wood, Tortoise, Bird, Beauty, Multimedia, Four Symbols, Dragon, The Legend of Zelda: Majora's Mask, Tiger, Interior design, Cosmetics, Hatmaking, Online shopping

HANGZHOU, China, April 22, 2022 /PRNewswire/ -- Florasis, the top selling C-Beauty brand that creates wearable works of art, is pleased to announce the launch of its Eastern Beasts Sculpting Palette.

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HANGZHOU, China, April 22, 2022 /PRNewswire/ -- Florasis , the top selling C-Beauty brand that creates wearable works of art, is pleased to announce the launch of its Eastern Beasts Sculpting Palette.
The Eastern Beasts Sculpting Palette brings together Florasis' award-winning art and unique product formulation.
Key elements of the palette include:
Function: 4-in-1 Palette: The multi-functional palette can be used for contouring and highlighting, as well as blush and eyeshadow.
To purchase Florasis' Eastern Beasts Sculpting Makeup Palette, visit Florasis.com , which allows consumers in more than 40 countries to purchase for shipment to their home country.