DGAP-News: Varengold Wertpapierhandelsbank AG about corporate development in the second half of 2012
(firmenpresse) - DGAP-News: Varengold Wertpapierhandelsbank AG / Key word(s):
Development of Sales/Miscellaneous
Varengold Wertpapierhandelsbank AG about corporate development in the
second half of 2012
14.12.2012 / 13:57
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Hamburg, 14th December 2012 - The Varengold Bank AG, a German investment
bank with an exclusive focus on asset management with managed futures and
capital markets brokerage, reports about the business development in the
second half of 2012:
The profit situation in the area of capital markets brokerage in total has
been satisfactory to this day, so that the achieved economic key figures
can be described as solid. However, the market environment for the asset
class managed futures was also very challenging in the second half of 2012.
Against this background, the two public funds of the company suffered
losses once more. As also regulatory conditions have changed fundamentally,
the company has decided to withdraw from the retail segment and restructure
the asset management future-oriented. Thus, the UCITS III-fund 'Varengold
Alternative Alpha' will be resolved to 31th June.2013. Also, the public
fund of funds 'HI Varengold CTA Hedge' will be resolved perspectively in
the third quarter of 2013. Because of this decline in revenues in the area
of asset management, the company expects a negative result to the end of
the year 2012.
Overall, Varengold continues treading the already chosen path regarding
restructuring, opening up new areas of growth, stabilize earnings and
create new revenue opportunities. The current development of the company
and the forecast is also represented in a letter to shareholders, which
will be published today in the investor relations section of the website
www.varengold.de.
End of Corporate News
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14.12.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Varengold Wertpapierhandelsbank AG
Große Elbstraße 27
22767 Hamburg
Germany
Phone: +49 (0)40 / 668649-0
Fax: +49 (0)40 / 668649-49
E-mail: info(at)varengold.de
Internet: www.varengold.de
ISIN: DE0005479307
WKN: 547930
Listed: Freiverkehr in Berlin, Düsseldorf, Stuttgart; Open Market
(Entry Standard) in Frankfurt
End of News DGAP News-Service
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197074 14.12.2012
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Datum: 14.12.2012 - 13:57 Uhr
Sprache: Deutsch
News-ID 212891
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Kategorie:
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