Bertie Ahern to become Chairman of the International Forestry Fund
(Thomson Reuters ONE) - Three-time Irish Prime Minister joins fund investing in sustainableforestryPress Release Helvetia Wealth AG, November 26, 2009Dublin / Zurich: The International Forestry Fund - a joint venture ofthe Irish Forestry Fund and Helvetia Wealth AG of Switzerland - todayannounced that the former Irish Prime Minister Bertie Ahern willbecome Chairman of the fund as of January 1, 2010.The International Forestry Fund, created in March 2009, is offeringthe opportunity of direct forestry investment to institutionalinvestors. The Fund invests in forestry in Ireland, the UK, andCentral America, growing a mixture of species ranging from spruce andpine in Europe to tropical timbers such as teak, mahogany, androsewood.The fund buys existing forests, or land which is then afforested. Keyto its strategy is that it will acquire the title to all propertiesfor the benefit and protection of its investors. All lands andforestry will be subjected to strict independent assessment prior topurchase; this external monitoring will remain in place throughoutthe Fund's ownership of its forestry and land.A forest certification process ensures that the forests are managedsustainably; the production of timber is subject to strict forestryand environmental protection standards throughout the timberproduction cycle, including tree planting and observing biodiversity.The certification process also defines standards for labour,transportation, and for guaranteeing property rights.Commenting on today's announcement Bertie Ahern said: "I am delightedand honoured to be joining the International Forestry Fund at thisvery exciting time for this sector. The stewardship and use offorests and forest lands in a way that is productive and progressiveis vitally important today and for future generations. Much work isstill required to achieve balance between society's increasingdemands for forest products and benefits, and the preservation offorest health and diversity. I look forward to working with theInternational Forestry Fund in the years ahead to develop astructured process for the long term management of forests in keepingwith the principles of sustainable development.""The fund offers significant diversification by distributing the ageof each forest, from bare agricultural land to semi-matureplantations, in order to provide consistent returns. We try toprevent distortions of land prices by investing continuously and on along-term basis. This implies that we might limit subscription in anygiven period", explains Trevor McHugh, a director of the fund andManaging Director of I.F.S. Asset Managers, Dublin, which in 1997developed the concept of the Irish Forestry Funds, investing directlyinto Irish Forestry. The Irish Forestry Funds have a track recordspanning 13 years delivering an average 9% p.a. return for theirinvestors."The idea of creating the International Forestry Fund was born afterthe original Irish Forestry Funds could not accept furtherinvestments simply because the availability of suitable land forforestation in Ireland is finite", explained Trevor McHugh. "We havespent a number of years establishing the necessary relationshipsrequired to launch a Forestry Fund of this nature and are delightedto have engaged with Helvetia Wealth AG from Switzerland who are theFund Managers to the International Forestry Fund. This relationshipenables us to attract international institutional investorsinterested in acquiring forestry assets on a global basis, therebytaking advantage of an asset class that benefits from ongoingbiological growth regardless of economic conditions."The fund is open-ended with a five-year initial lock-up period.Minimum investment is 100,000 Euro. The fund targets annualisedreturns of 7 to 10 percent. There is a 1.5 percent management fee anda 10 percent performance fee over 10-year Euro Bond returns."Helvetia Wealth is delighted to broaden its product portfolio intoalternative investments with the International Forestry Fund. Westrongly believe in the success of this fund. Creating more renewableresources to cater to issues like the increasing demand for biofuelsis an irreversible trend and an environmental necessity. We want tofacilitate this trend by providing the appropriate financial toolsand lucrative investment opportunities", said Kamil Stender, CEO ofHelvetia Wealth.About Bertie Ahern:Bertie Ahern is the first person since 1944 to be elected primeminister of Ireland on three successive occasions. At each step, helaid the foundation for a renewed Ireland that will benefit futuregenerations of Irish. Mr Ahern implemented bold economic initiativesthat included corporate tax incentives and education reform. Hisefforts laid out a welcome mat for international corporations, makingIreland an attractive location for foreign companies which drove jobcreation for over a decade. Known as a dedicated negotiator focusedon the end result, Ahern brought divergent parties together inIreland and Europe urging them to set aside centuries of conflict tocreate lasting peace and prosperity. http://bertieahernoffice.org/About Helvetia Wealth AG:Helvetia Wealth is one of the fastest growing financial servicesbrands in Europe. The core business is the provision of Swiss privatebanking solutions and asset management services. The firm using anopen architecture business model, sits at the centre of a network ofbest of class third party suppliers and is able to bring progressiveinstitutional wealth management products and services to the widermarket. Helvetia has a team of private banking and institutionaladvisors from all over the world, who care for a quickly growingfamily of international clients. www.helvetia-wealth.comMedia contacts:Shepard Fox CommunicationsAxel J. SchafmeisterTel. +41 44 252 0708axel.schafmeister(at)shepard-fox.comInternational Forestry Fund:Trevor McHughTel: +353 (0)1 2841777TMcHugh(at)irish-forestry.ieweb: www.ifsam.ieThe press release can be downloaded from the following link:http://hugin.info/142427/R/1357358/330158.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 26.11.2009 - 12:45 Uhr
Sprache: Deutsch
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