Sunday, 3 May 2015
Last updated 2 days ago
Jun 25 2012 | 1:45pm ET
Listed fund of hedge funds Castle Alternatives Invest plans to buy back up to 10% of its shares in an effort to cut its discount to net asset value.
The fund, managed by LGT Capital Partners, is listed on both the SIX Swiss Exchange and the London Stock Exchange. The share buyback, authorized at last month's annual meeting, will run from Thursday through June 5, 2013. Castle Hall was also authorized to cancel the 1.1 million shares it repurchased in its last share buyback plan.
"The board of Castle AI believes in an active approach to managing the discount to net asset value and has implemented this program to support the price at which shares trade in the secondary market," Mark White, co-head of listed investment companies at LGT, said. "The company has a long track record of delivering positive returns, proving an effective investment vehicle for investors wishing to enhance their portfolio diversification. The second trading line should help to tighten the discount, and should result in a share price which better reflects the value of the company and the quality of its underlying investments."
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…