Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.
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The following is on ALGW's partner SLIM, who together launched the BlackOak Alpha Growth Fund in April 2019, and gives you an indication of the potential ahead for this fund. Gla ;-)
SL Investment Management
SL Investment Management is a specialist Investment Manager working globally with intermediaries, professional and institutional investors to deliver a range of low-correlation based asset management services.
Since 1990 we have managed or advised over 30 collective investment vehicles, utilising multiple structures and domiciles - representing over $2.6bn in assets. Our reputation for innovation is combined with strong corporate governance and actuarial capabilities which help us to meet the stringent due diligence requirements of major institutional and corporate investors.
BlackOak LP
BlackOak Investors LP is a medium to long term Alternative Investment Fund (AIF) aimed at achieving steady capital growth at favourable risk adjusted rates irrespective of movements in mainstay asset classes.
The fund invests in US Senior Life Settlements - life insurance policies originally taken out by US citizens, where the individual in their senior years has chosen to sell their policy in the secondary market to an investor such as BlackOak Investors LP.
Launched in February 2014, the fund unit price at the end September 2019 was $23.1793; representing a 16.0% annualised return from the initial launch price of $10.0000.
Patrick round
"We are delighted with the performance of the fund over the past 5 years, with impressive annualised growth of 16.0% since fund inception. The active trading strategy has proved to be a particularly useful feature in achieving realised fund returns since launch."
Patrick McAdams CFA | Fund Manager | October 2019
https://www.slinvest.co.uk/blackoak-lp/
News on BlackOak also due. Gla ;-)
30 April 2019
Alpha Growth plc
("Alpha", or the "Company")
BlackOak Alpha Growth Fund Launch
Alpha Growth plc (LSE: ALGW), the financial services specialist in the growing Senior Life Settlement ("SLS") asset class, is pleased to announce that in partnership with SL Investment Management Limited ("SLIM"), a UK based full scope FCA regulated alternative investment fund manager, have launched the BlackOak Alpha Growth Fund ("BOAGF", or the "Fund").
Alpha Longevity Management Limited ("ALM", a wholly owned subsidiary of Alpha and a BVI FSC approved investment manager) in partnership with SLIM are the exclusive Managers to BOAGF. Both SLIM and Alpha are the General Partners of the Limited Partnership.
The Fund is an open-ended Cayman Island Exempt Limited Partnership investing in Life Settlements and is available to qualified global investors. Requiring a minimum investment of $250,000, the Fund has a target return between 10% and 14%, and provides investors with liquidity through quarterly redemption windows. The Fund has a management fee of 1.5% per annum and a [annual] performance fee calculated as 20% of all returns in excess of the hurdle rate of 7%. Both the management and performance fees will be received by the General Partners. The fund is supported by third party advisors including Sadis Goldberg (USA law firm), KPMG (Cayman, USA, and Ireland), Applebys (Cayman law firm), LK Shields (Ireland law firm), Advance Fund Administration (Cayman), WB Financial (Cayman), and CAFICO Ireland.
The Fund has received commitments for initial investment seed capital of approximately $15m. Over the course of the next few weeks and beyond, Alpha and SLIM will be on-boarding the initial investment commitments and rolling out a comprehensive marketing strategy targeting family offices, ultra-high net worth individuals, private wealth managers, and fund of fund investors.
Alpha Growth - VOX Interview 16th Sep 2019 (Transcribed)
Vox
Is it hard to find these good value life settlement funds and acquire them?
Gobind Sahney, CEO
Well I think that if any investment professionals that are not aware of longevity assets said "Hey I want to buy a life settlement, I am sure that they could google it and come up with it but you (they) won't necessarily know what you are buying or how you are going to buy it: what the process is..so that's why we are in business and one of the interesting things about life settlements is the legal, accounting, tax, actuarial complexities and so you need to know who and you need to know who is good to go to and so I think that from our company perspective, we are fortunate to have Danny Swick, our COO, who is one of the leading if not the top market market makers in life settlements in the US before he joined Alpha and so we are pleased to say that product resourcing is not an issue....we know how to find the right assets and, of course, we know how to buy them.
Ophidian, good to see you here, invested.
The question I have at the moment is, what caused the slippage back from the 4p area a year ago, when it last spiked? Reading the RNSs at the time, it looks like there was a bout of temporary euphoria over the signing and start of the fund relationship with SLIM. But as far as I can see, no AUM numbers for that fund launch have yet been disclosed. Can you (or anyone else) please point me to them?
Now coming up to the present time, and this eagerly awaited $100mn credit facility in conjunction with another Fund launch, for which Algw acting as the asset manager would be entitled to a hedge fund style fee arrangement. The question again that I have, to temper the prevailing bullishness here, is that product flow onto the books of the offshore Fund may not match the availability of funds to purchase the life policies, thus leading to yet another spike on the credit news which needs time to fill the Fund's asset capacity. So quite a volatile sp journey ahead, I am thinking, albeit an upwards one for the genuine LTH.
Thoughts?
I think it means they wernt transacted through a trading exchange
What’s with all the off book trades on lse
Hi FekirTrader - yep I've read your contributions over there. This is a completely different kind of beast for me but my research so far leads me to believe that just like BMN it is one of those undiscovered gems that will do very well.
Good luck to both of us (and all other investors here too)
Ophidian
Hi Ophidian,
I am invested in bmn and atm. I have also diversified here in algw. If they deliver this will be a good stock as the idea and asset class is very good. Been here for a while since it was taken to 6p by the rampers. Good luck all
I've been continuing my own research and education on this model. One of the things that struck me when I read it, but in fairness had not fully appreciated for myself, is that for the most part, this asset class is completely independent of general economic movements. It is a safe hedge against current global uncertainties. Unlike most commodities which are tied to the global economic cycles as an example, these life policies are uncorrelated with economic changes in direction. If the economy turns down, most commodities inevitably follow similarly, in times of economic hardship service industries tend to suffer too. The Life policy asset class is substantially unaffected by these economic movements. If anything, in harder times people are more likely to choose not to continue paying out on policies they may view as expensive nice to haves.
I appreciate those of you who have done your research on this company and asset class will know this - I'm posting more to share the revelation with any newbies who may be at the start of their research.
Ophidian