The Venulum September client conference was held on Friday morning and set out to clarify Venulum’s strategy for 2009 together with a review of performance of the Mutual Wine and Property Funds in 2008. Giles Cadman, Chairman of the group, was pleased to announce the overall returns for the Group had exceeded 15% in 2007 and was positive about 2008-2009 in light of the opportunities presenting themselves because of the deteriorating economic climate in the US and the impact felt in the UK and Europe.
“We are well placed to take advantage of the weakening property market in the UK as we have strong liquidity in the Property Fund,” explained Cadman, “We have been waiting for three years for the property market to cool so that we can acquire property within our yield criteria of between 7% and 9%.” The property team are now analysing three opportunities where values have fallen by over 50% in the past twelve months.
Rob Spalding, Business Development Officer from Pensco Trust Co was also a speaker at the conference. Pensco started trading in 1989 in New Hampshire and are an independent custodian of self directed IRA’s, specialising in non traded assets. Rob Spalding explained that as a regulated IRA custodian, Pensco are independent and are never in conflict with investors’ goals because they do not sell investment products nor provide investment or tax advice.
“At Pensco Trust, we combine proprietary technology, built specifically to facilitate smooth, safe processing of investment transactions with the greatest depth of in-house expertise in the industry” explained Spalding, “Clients benefit from our expertise on non-traditional IRA investing that comes from our singular focus. We are proud of our philosophy of sharing this expertise with our clients and prospects by providing free education on self directed IRA investing.”
Daniel Cann, Director of Folio Administrators Limited was also on hand to answer specific questions from clients throughout the weekend. Folio administers all of the Venulum funds. Having been founded in 2001, they have grown to be the largest fund service provider in the British Virgin Islands, currently providing full administration services to over 130 funds with approximately $5.5 billion of net assets under administration.
Daniel commented “We focus on tailoring our services to match individual requirements by employing specialist, highly qualified accountants and administrators. We utilize the best in fund administration solutions with PFS-Paxus and Bloomberg.”
The second session of the Friday morning presentation focussed on Venulum Wine Ltd and the different ways that Venulum invest in wine. “Wine is an asset class that Venulum believe is perfect for use in IRA and 401K investment vehicles,” Giles Cadman explained, “It can produce strong consistent returns as it benefits from diminishing supply as it gets drunk whilst demand increases as it improves with age.” Venulum Wine Limited has a team of experts and consultants who attend the annual tastings in Bordeaux and Burgundy to unearth those wines they think will provide the strongest investment returns. The company offers clients the opportunity to invest with different levels of gearing, from a straight forward full physical purchase to instalment contracts, En-Primeur agreements or forward purchase agreements.
Venulum are already planning conferences for 2009 on the West Coast and back at Greenbrier in the fall.
The Venulum Group is a multinational private wealth management firm headquartered in the British Virgin Islands. The Group manages the wealth of high net worth individuals, and specialises in alternative investments often not available to the general public. Venulum helps high net worth individuals balance their portfolios.
The Venulum Group was formed in 2002 and has expanded to include offices in five countries with service offices in a further two. Since 2002 Venulum’s client base has expanded rapidly, and we now have a substantial number of United States based clients.