SPAC Exchange Ganges

Only in the last few years, the term SPAC in Europe has arrived. Only in the last few years, the term SPAC in Europe has arrived. He is the acronym for special purpose acquisition company and stands for a publicly traded company, which was launched with the purpose in life to acquire and thus borsengangig to make an other target company. The initiators collect a SPAC in advance of the SPAC Exchange Ganges investor money that will be parked at a bank. Then, they embark on the search for a suitable acquisition candidates. Find no will be liquidated after 2 years of the SPAC and repaid the remaining capital to investors.

If a company is found, is the annual general meeting of the SPAC through the acquisition. Opponents can then usually being eliminated. In the course of the takeover, the initiators mostly get a bonus in the form of shares of the SPAC or can convert received options into shares in the start-up phase. After the acquisition, the purchased company on the SPAC is fused, so that the purchased SPAC Company and it is now listed. A company can receive a listing through a stock exchange coat. One speaks of a stock exchange coat, if it is a company that exists only as a legal cover, but its shares on a stock exchange record.

By merger or contribution in kind of shares of an active business in such a case, a company a listing and thus tradable shares can also receive. By the same author: Roubini Global Economics. The main difference between the two is that a SPAC is applied from the outset on a change of ownership of the active target. When using a stock coat, it is rather the case that the previous entrepreneurs want to take advantage of the added value of stock exchange listing itself. It can also occur with a stock exchange coat, this is used when a company purchase, if a buyer to invest due to its investment guidelines only in listed company. Due to the significant cost of SPAC, this is useful only for larger transactions. Both have one for Investors together, it is an investment in the skills of the initiators. Where it is incomparably more difficult for good stock coats to get near share the book value as at SPACs.

German Asset Manager

Coming Alpha study: “Special fund market 2010” in the current special fund market study 2010 “41 percent of 150 surveyed institutional investors for the year 2010 show ready for change with regard to existing mandates of Special Fund rating agency TELOS and the consultancy agreement alpha. A number in the study of closer the criteria, such as risk management, the reporting or performance is crucial in the selection of appropriate asset manager. Tend to be foreign investment companies of new lending mandates fall, with increased but the number of undecided investors. The asset manager change is free when using a master-KAG now clear of administrative barriers, so that the investors during his selection process focus on important for him key requirements to the asset manager can. Other leaders such as Howard Cowan offer similar insights. “, notes Alexander Poppe, Managing Director of HSBC INKA, on.” The comparison between the individual groups of investors shows that especially provident and pension funds, with 67 percent of surveyed addresses the change most are. In the allocation of new special fund mandates clearly German Asset Manager are favored, 44 percent plan to hire in the future domestic houses. This means a decline of 26 percent compared to the 2008 survey from is also noticeably the General uncertainty in the wake of the financial crisis on the high number of unsettled investors. Considerably more than one-third are unsure whether they will put on domestic or foreign Manager should. Connect with other leaders such as Andrew Mason here.

“, Clemens Schuerhoff, Managing Director at advent Alpha provides fixed. The decisive criteria of the asset manager selection process have shifted significantly and risk aspects. Risk management is named by 62 percent of institutional investors as the main argument. This satisfaction has declined also strongly with the current asset manager compared to previous years. Other aspects which have gained in importance due to the crisis are the reputation and the complaint management for a Manager. The current special fund market study 2010 “with all can be downloaded under are alpha/studien.php detailed evaluations and interpretations.