2009-11-26 12:47:02 -
London, November , 26, 2009
Three-time Irish Prime Minister joins fund investing in sustainable
forestry
Press Release Helvetia Wealth AG, November 26, 2009
Dublin / Zurich: The International Forestry Fund - a joint venture of
the Irish Forestry Fund and Helvetia Wealth AG of Switzerland - today
announced that the former Irish Prime Minister Bertie Ahern will
become Chairman of the fund as of January 1, 2010.
The International Forestry Fund, created in March 2009, is offering
the opportunity of direct forestry investment to institutional
investors. The Fund invests in forestry in Ireland, the UK, and
Central America, growing a mixture of species ranging from spruce and
pine in Europe to tropical timbers such as teak, mahogany, and
rosewood.
The fund buys existing forests, or land which is then afforested. Key
to its strategy is that it will acquire the title to all properties
for the benefit and protection of its investors. All lands and
forestry will be subjected to strict independent assessment prior to
purchase; this external monitoring will remain in place throughout
the Fund's ownership of its forestry and land.
A forest certification process ensures that the forests are managed
sustainably; the production of timber is subject to strict forestry
and environmental protection standards throughout the timber
production 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 delighted
and honoured to be joining the International Forestry Fund at this
very exciting time for this sector. The stewardship and use of
forests and forest lands in a way that is productive and progressive
is vitally important today and for future generations. Much work is
still required to achieve balance between society's increasing
demands for forest products and benefits, and the preservation of
forest health and diversity. I look forward to working with the
International Forestry Fund in the years ahead to develop a
structured process for the long term management of forests in keeping
with the principles of sustainable development."
"The fund offers significant diversification by distributing the age
of each forest, from bare agricultural land to semi-mature
plantations, in order to provide consistent returns. We try to
prevent distortions of land prices by investing continuously and on a
long-term basis. This implies that we might limit subscription in any
given period", explains Trevor McHugh, a director of the fund and
Managing Director of I.F.S. Asset Managers, Dublin, which in 1997
developed the concept of the Irish Forestry Funds, investing directly
into Irish Forestry. The Irish Forestry Funds have a track record
spanning 13 years delivering an average 9% p.a. return for their
investors.
"The idea of creating the International Forestry Fund was born after
the original Irish Forestry Funds could not accept further
investments simply because the availability of suitable land for
forestation in Ireland is finite", explained Trevor McHugh. "We have
spent a number of years establishing the necessary relationships
required to launch a Forestry Fund of this nature and are delighted
to have engaged with Helvetia Wealth AG from Switzerland who are the
Fund Managers to the International Forestry Fund. This relationship
enables us to attract international institutional investors
interested in acquiring forestry assets on a global basis, thereby
taking advantage of an asset class that benefits from ongoing
biological 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 annualised
returns of 7 to 10 percent. There is a 1.5 percent management fee and
a 10 percent performance fee over 10-year Euro Bond returns.
"Helvetia Wealth is delighted to broaden its product portfolio into
alternative investments with the International Forestry Fund. We
strongly believe in the success of this fund. Creating more renewable
resources to cater to issues like the increasing demand for biofuels
is an irreversible trend and an environmental necessity. We want to
facilitate this trend by providing the appropriate financial tools
and lucrative investment opportunities", said Kamil Stender, CEO of
Helvetia Wealth.
About Bertie Ahern:
Bertie Ahern is the first person since 1944 to be elected prime
minister of Ireland on three successive occasions. At each step, he
laid the foundation for a renewed Ireland that will benefit future
generations of Irish. Mr Ahern implemented bold economic initiatives
that included corporate tax incentives and education reform. His
efforts laid out a welcome mat for international corporations, making
Ireland an attractive location for foreign companies which drove job
creation for over a decade. Known as a dedicated negotiator focused
on the end result, Ahern brought divergent parties together in
Ireland and Europe urging them to set aside centuries of conflict to
create lasting peace and prosperity. bertieahernoffice.org/
About Helvetia Wealth AG:
Helvetia Wealth is one of the fastest growing financial services
brands in Europe. The core business is the provision of Swiss private
banking solutions and asset management services. The firm using an
open architecture business model, sits at the centre of a network of
best of class third party suppliers and is able to bring progressive
institutional wealth management products and services to the wider
market. Helvetia has a team of private banking and institutional
advisors from all over the world, who care for a quickly growing
family of international clients. www.helvetia-wealth.com
Media contacts:
Shepard Fox Communications
Axel J. Schafmeister
Tel. +41 44 252 0708
axel.schafmeister@shepard-fox.com
International Forestry Fund:
Trevor McHugh
Tel: +353 (0)1 2841777
TMcHugh@irish-forestry.ie
web: www.ifsam.ie
The press release can be downloaded from the following link:
hugin.info/142427/R/1357358/330158.pdf
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
