Latest news with #AIMA
Time of India
5 days ago
- Automotive
- Time of India
Industrialists irked by poor roads in Ambad MIDC areas, demand urgent repairs
Nashik: Industrialists in the Ambad MIDC, located within the limits of NMC, are irked by the terrible condition of roads in the estate and the civic body's failure to repair them. According to the Ambad Industries and Manufacturers Association (AIMA), potholes have surfaced on all major and internal roads in Ambad Maharashtra Industrial Development Corporation (MIDC) areas, making driving risky for motorists. They added that the roads here have not been re-laid for the past 15 years. MIDC had previously handed over roads in both Ambad and Satpur industrial estates to Nashik Municipal Corporation (NMC), which repairs and maintains these stretches and streetlights on them. In turn, the industries pay a property tax to the NMC. Now, a delegation of AIMA, led by its president Lalit Boob, met officiating NMC commissioner Karishma Nair, seeking immediate road repairs and concreting of all roads in the Ambad industrial areas. Boob also urged the NMC commissioner to make adequate financial provisions in the civic budget for infrastructure improvement in both MIDC areas. In response, Nair said NMC has made a financial provision of Rs8.5 crore for Ambad industrial estate and Rs6 crore for Satpur MIDC areas, and improvement works will start in the next couple of weeks. Boob told TOI, "Potholes and the poor condition of roads are slowing vehicle movement, causing traffic jams and minor accidents. Moreover, workers are developing health issues and vehicle maintenance costs have risen. During peak hours of commute in the morning and evening, traffic jams are a regular affair." Nikhil Panchal, an industrialist, said, "The condition of roads, particularly in Ambad MIDC areas, has deteriorated further. It is causing huge inconvenience. We want NMC to immediately repair all roads using tar. Moreover, we also want the civic administration to re-lay all major and minor roads in Ambad industrial areas." He added, "We expected NMC to repair the roads by April, but it could not. Heavy rain has been lashing the city since May 5, further deteriorated the condition of the roads." There are around 2,000 micro, small, medium, and large industrial units in Ambad MIDC areas, providing employment to over 1 lakh workers. There is also continuous movement of heavy trucks and containers here to transport goods and dispatch finished products.
Finextra
6 days ago
- Business
- Finextra
IA, PIMFA and AIMA issue recommendation on T+2 fund settlement
The Investment Association (IA), Personal Investment Management and Financial Advice Association (PIMFA) and Alternative Investment Management Association (AIMA) have joined forces to issue a recommendation encouraging firms to alter their fund settlement timings to T+2 on or before 11 October 2027. 0 The recommendation aims to align fund settlements more closely with plans in the UK, EU and Switzerland to move securities trades to T+1 by the same date, and comes one-year after the milestone move in the US to T+1 for securities trading. There is a general trend towards quicker settlement in global capital markets, to improve operational efficiencies, increase liquidity for investors and reduce manual processing demand. In a recent report from the government's Accelerated Settlement Taskforce (AST), T+2 was identified as optimal for fund settlement, to provide cash management flexibility whilst minimising a potential funding gap with products settling at T+1. Chris Cummings, CEO of the Investment Association, commented: 'As a critical bridge between investors and capital markets, it's extremely important that the funds industry keeps pace with broader changes in financial services infrastructure. 'The move to T+2 for funds will encourage greater global alignment on settlement cycles, enabling better services for investors, fostering a more robust financial ecosystem and improving the competitiveness of UK and European funds. We encourage firms, their service providers and the wider distribution chain to kickstart preparations for T+2, focusing on the delivery date to ensure a smooth transition.' Liz Field, Chief Executive of the Personal Investment Management and Financial Advice Association, commented: 'PIMFA and its members support the reduction of the settlement cycle for UK funds transactions to T+2. This is an important step towards greater global alignment on settlement cycles, which will foster a more robust financial ecosystem, drive economic growth, increase investor confidence and improve the competitiveness of UK markets.' Jack Inglis, CEO of the Alternative Investment Management Association, commented: 'AIMA welcomes the UK Accelerated Settlement Taskforce's (AST) roadmap for transitioning to a T+1 securities settlement cycle by 11 October 2027. We are committed to working with the industry to implement the necessary changes to ensure a smooth transition. In line with the AST's recommendations, AIMA is actively supporting firms with the global shift towards shorter securities settlement cycles. This transition will contribute to a more efficient and competitive financial ecosystem, benefiting market participants and investors alike.' Andrew Douglas, Chair of the Government's Accelerated Settlement Taskforce commented: 'As chair of the Accelerated Settlement Taskforce (AST), on behalf of the AST, I wholeheartedly welcome and support this recommendation from IA, PIMFA and AIMA. It fully aligns with the industry's February 2025 T+1 Implementation plan, specifically ENV 11, both on content and the required deadline. I would encourage all participants to adopt it as part of their preparation for the implementation of UK T+1 on 11th October 2027.' Separately, the IA has provided its members with a list of considerations for fund managers, providing a framework for co-ordinated action by firms who wish to mitigate challenges presented by the market change. The IA made a similar recommendation in 2014 for funds in alignment with market changes in most of Europe to T+2.
Yahoo
27-05-2025
- Automotive
- Yahoo
First Batch of 200 Powelldd Electric Scooters Officially Delivered from Vietnamese Factory
TIANJIN, China, May 27, 2025 /PRNewswire/ -- On May 20, 2025, the delivery ceremony for the first batch of 200 Powelldd electric scooters was grandly held at the company's Bac Giang factory in Vietnam. This milestone event was witnessed by Powelldd's regional leaders in Vietnam, including Mr. Luo Jiangang, Mr. Zhang Wenfeng, and Ms. Zhang Shiyu, as well as representatives from various departments of the factory. As a key overseas sub-brand of China's AIMA Technology, this event not only signifies that Powelldd has entered a stable and healthy phase of production and operation, but also heralds an increase in AIMA's market share and influence in the Southeast Asian market. At the ceremony, as the neatly arranged Powelldd "Walkman" electric scooters stood on display, Mr. Luo Jiangang and Mr. Zhang Wenfeng delivered passionate speeches. They highly praised the dedication and teamwork of all employees, encouraging them to continue their work with greater enthusiasm and improved efficiency. Currently, AIMA electric scooters are sold in more than 60 countries around the world, with 11 major production bases, including overseas factories in Indonesia and Vietnam. As of March 31, 2024, AIMA's total sales had reached 80 million units. The company was awarded the title of "Global Leading Electric Two-Wheeler Brand" by the internationally renowned consulting firm Frost & Sullivan, showcasing its status as a global industry leader. Looking ahead, Powelldd will continue to uphold AIMA's "customer-first" product philosophy, providing practical, efficient, and green mobility solutions for short-distance commuting in Vietnam, and playing a greater role in the development of the country's clean energy industry. View original content: SOURCE AIMA
Forbes
27-03-2025
- Business
- Forbes
Is AI Technology The Biggest Risk For Hedge Fund Growth And Market Stability?
The U.S. Senate Committee on Homeland Security and Governmental Affairs is not at the top of anyone's list for hedge fund commentators but it does have serious views on the subject. Its report in June last year said that hedge funds use of AI and machine learning technologies to assist in trading decisions, which has been a practice by some for years, raises several concerns as this technology evolves, including the risk of inadequate disclosures to clients and the potential for increased threats to market stability.' It quoted the then SEC Chairman Gary Gensler's view that a financial crisis triggered by AI is 'nearly unavoidable' within the next decade and cited the May 2023 incident when an AI generated image of an explosion at the Pentagon led to a drop in stock market indices. Gary Gensler is gone and AI regulation in the new administration is certain to be lighter but the issue remains. Arguably, the biggest concern often raised by policymakers and regulators about AI in financial services is the use of GenAI and Large Language Models (LLMs) which are complex and nuanced, often with a lack of transparency with the underlying information used in generating a response that is used to make investment decisions. This is especially the case in the regulated financial services sector. The CFTC released Report on Responsible AI in Financial Markets, in May 2024, was authored by an independent Commitee of experts to facilitate an understanding of the impact and implications of the evolution of AI on financial markets with five recommendations to as to how the CFTC should approach this AI evolution in order to safeguard financial markets - regulating AI in financial services was not one of the recommendations. Commenting on the report, Commissioner Goldsmith Romero said, 'I herald the foundational, iterative approach of the Committee to recognize both that AI has been used in financial markets for decades, and that the evolution of generative AI introduces new issues and concerns, as well as opportunities." 'Herding' is often cited as a concern, where similar common models are used systemically important financial institutions or large cohorts of market participants, creating concentration risks, as pointed out in IOSCO's newly released member survey report, Artificial Intelligence in Capital Markets: Use Cases, Risks, and Challenges, though the report claims there is a lack of sufficient data in this specific area. The European Commission is consulting the industry on the use of AI in financial services with a view to regulating it, which is more the European way. Jack Inglis, ceo of The Alternative Investment Management Association (AIMA), says, 'A prescriptive approach to policy-making in this area could stifle innovation, placing European investment managers at a competitive disadvantage globally.' AIMA, which represents many hedge funds, stressed advanced technologies have been used in the sector for years 'to increase business and compliance efficiencies, but generative AI now offers new opportunities for enhanced efficiency gains.' Firms in the hedge fund industry, and across the financial services sector as a whole, invests heavily in their own technology, and in fintech and technology investments. After the Fed started rate cutting Goldman Sachs noted that hedge funds were buying technology stocks at the fastest rate for four months placing nearly almost three times as many long positions on the bet that information technology stocks would rise, compared to those with bets against them. That has of course changed since the start of the year and coinciding with the launch of DeepSeek. The Magnificent Seven or Mag7, now dubbed the Lag7, are down 16 percent so far this year. Markets being markets, there are claims now that Lag7 stocks are oversold. Goldman Sachs now says hedge funds are fuelling the biggest tech buying spree since 2021 with Clif Marriott in Goldman Sachs Global Banking & Markets saying, 'We think 2025 is going to be a breakout year for the number of tech IPOs globally.' The amount of capital invested in artificial intelligence is growing and similarly in cyber security, 'European tech has evolved immensely over the past decade,'add Marriott. Investment by hedge funds in technology for their own business operations as well as for their investors is a major issue and one that research from Beacon Platform Inc. has explored in depth in a new research report, Hedge Funds in 2024: Risks, Resilience, and Technology. Asset Tarabayev, chief product officer at Beacon, sums it up the report saying, 'Hedge funds clearly understand that data and systems integration are essential components of both risk visibility and competitive advantage.' The report from Beacon, a cross-asset portfolio analytics and risk management platform for multi-strategy hedge funds, contains some good news and some not so good news about hedge funds' use of technology. The good news is that institutional investors are predicting strong growth and attractive risk-adjusted returns in the hedge fund sector and are planning to back expansion with increased allocations. Almost all (93 percent) questioned expect an increase in fundraising by hedge funds of 10 percent or more over the next three years with 14 percent predicting growth of more than 20 percent. All institutional investors questioned believe investing in hedge funds will be attractive in terms of risk-adjusted returns over the next five years, with 17 percent describing it as very attractive. Data from Hedge Fund Research shows that at the end of 2024 total global hedge fund capital rose to an estimated $4.51 trillion, increasing $401.4 billion in the year. A major growth area has been crypto and blockchain with the HFR Cryptocurrency Index showing annualized returns of 51.4 percent and cumulative gains of 694.6 percent over five years. The not so good news is that, for all the investment in technology and talk of the use of generative AI and innovation, the research discovered the old ways have not gone away yet with 90 percent questioned saying their fund or department is wasting time with Excel spreadsheets and other manual activities. Almost all (92 percent) believe their system spends too much time on consolidating data from multiple sources while 81 percent say too much time goes in investment evaluation and 79 percent admit time is wasted on aggregating and measuring risk. Nearly three out of four (73 percent) say too much time goes into manual or spreadsheet-based analytics and 71 percent say this about trying to define P&L residuals. Kirat Singh, co-founder and ceo, at Beacon said: 'Excel spreadsheets clearly have a place in managing trading activity and risk management in the hedge fund sector, however, with so many saying that they are spending too much time on spreadsheets, there is a strong case for greater use of the available technologies. 'Leading funds are turning massive spreadsheets with millions of cells into cloud-enabled analytics, increasing the scale and speed of their analysis and decision making.' Technology and its use in risk management emerged as one of the biggest risks. Most institutional investors questioned (88 percent) agree that the quality of information and transparency in hedge funds needs to improve, with 22 percent saying it needs to improve dramatically. It is an issue that is costing hedge funds money. 85 percent of institutional investors questioned have decided not to invest in a particular fund because of concerns over its management of risk, and almost all (93 percent) think that this will be a growing trend. Almost all (93 percent) of senior hedge-fund executives questioned said risk parameters are becoming stricter at their firm in terms of what they can and cannot trade. Almost all (95 percent) say they are having to reduce or abandon trading in some areas because of the growing risks or because they don't have a good enough understanding of the risks in that area. Credit trading is the area hedge fund executives believe is most likely to be reduced or abandoned due to tighter risk parameters. Technology is the answer or at least a big part of the answer in helping to improve risk management. Almost all (99 percent) of hedge fund executives questioned say their fund will increase spending on risk management over the next two years. 90 percent questioned admit transparency provided to clients and investors must improve with 23 percent saying it has to improve dramatically. More than half (55 percent) say investment in technology is helping improve risk management and technology is seen as a source of competitive advantage across a range of factors. It is also a major factor making it easier to launch new funds with 60 percent of hedge fund executives questioned pointed to technology as a driver for growth in the number of funds. Technology is just about as important as being able to raise funds with 61 percent questioned indicating this. The research found launching a new fund is so popular that most hedge fund executives suspect colleagues are planning to quit and launch their own fund with 85 percent of senior executives questioned are concerned about a colleague launching their own fund. They just need the technology, which is becoming both cheaper to buy and build. Technology is central to the development of the hedge fund industry and will continue to be so for the foreseeable future, however it is often a tale of two domains from LLMs to spreadsheets. While the U.S. is focused more on voluntary guidelines for AI use in industries like financial services, the EU AI Act looks to be focused on comprehensive regulatory efforts, and classifying AI systems in high risk areas like financial services and healthcare. A good common ground for the hedge fund industry and policymakers and regulators is transparency - technology that delivers the transparency and outcomes that investors increasingly require will go some way to satisfying the drive to better oversight. The use of newer and greater technology monitoring systems to underpin financial stability would be a great and innovate breaththrough and improvement - physician, heal thyself. It is time that governments and regulators master this new and innovative technology to satisfy the monitoring (RegTech) and supervisory (SupTech) requirements in industries like financial services that are technology driven to meet the requirements of our complex society.
Yahoo
24-03-2025
- Business
- Yahoo
British buyers don't feel welcome in Spain so they're flocking here instead
Portugal has been a popular relocation destination for a decade. A mix of lifestyle, tax and residency incentives have drawn retirees, digital nomads and families to Europe's south-west corner. The most recent figures show a record number of foreign residents moved to Portugal in 2023 – up 130pc on year before – with British the third most popular national group after Brazilians and the French, according to AIMA, the migration agency. It counted 47,409 British citizens in the country in 2023-24, up from 45,265 in 2022. More recently, property portals and relocation agents are reporting an increase in interest, with one reason being attributed to wealthy taxpayers fleeing Labour's slew of tax hikes in Britain – especially with the threat of more to come. Another is the recent pronouncements of Spanish prime minister, Pedro Sánchez, who announced he might double taxes for, or even ban, non-EU buyers. 'We are seeing a lot of buyers saying they were thinking of Spain but are now looking at Portugal,' says Dylan Herdholdt of agent Portugal Realty on the Silver Coast. 'It's the feeling they are not welcomed there, rather than tax increases.' Stability, security and the fact that English is widely spoken in the Algarve have been key drivers for British families, and increased American interest is likely to continue with new direct flights from New York to Faro in May. While 10pc of foreign buyers are already American, the Portuguese Property Association luxury marketplace, JamesEdition, reports that US buyers have now overtaken the British for property enquiries, with the Lisbon area accounting for nearly half of these, followed by the Algarve (32pc). Although the real estate investment option of the golden visa scheme has ended, there's been a 185pc increase in American applications for the programme since Donald Trump won the election, according to migration consultancy Henley & Partners. Most of these have been for the €500,000 (£420,000) fund investment route, rather than the cultural donation of €200,000-plus option. But the 'Type D' long-stay visas have been popular too, with the D7 (passive income/retirement) the most popular route for Britons moving to Portugal, according to Global Citizen Solutions (GCS), a Lisbon migration consultancy. But the D8 (digital nomad) is also 'gaining traction' along with the D2 (entrepreneur) visa, according to Geoffrey Graham of Edge International Lawyers. 'The D2 and the NHR 2.0 are a good combination,' he says, or the new version of the NHR (non-habitual resident) regime targeting highly-skilled entrepreneurs, with a 20pc flat tax rate for 10 years. In Portugal, there's no inheritance tax or wealth tax. Here's how three couples are making the move to different parts of Portugal. A couple for 32 years and living in Southport, north west England, Dave and Ted Sedgewick decided to retire early from their jobs in compliance and environmental science to 'have an adventure'. 'We considered Spain, Greece and Portugal,' says Dave, 54. 'We loved Greece, but were worried about island life being too quiet in winter. Portugal came out top for easier access to healthcare, but also lifestyle and accessibility.' The couple rejected the Algarve and Comporta as too expensive – with €500,000, they could afford a new three-bedroom villa with a private pool on the Silver Coast, one hour north of Lisbon. 'We found it to be more authentically Portuguese, with amazing long sandy beaches like Salgado.' Until their new home near Salgado is completed in June, they have been renting a two-bed apartment for €800 a month and practising their Portuguese at their nearby coffee shop. 'Everyone stops to say hello,' adds Dave, who's also been volunteering at an animal rescue sanctuary. With neither of them wishing to work, the D7 visa was a no-brainer, so they started the process back in the UK through VFS Global, partner of the Portuguese Embassy. You have to show financial resources – €10,440 per year, plus €5,220 for the partner, and €3,312 for any child dependent. Dave says it was a lot of paperwork, though they found it manageable to do themselves rather than paying an agency. 'We started in September, got an appointment in November, found out in January we'd been successful and got the stamps [temporary visas] in our passports,' says Dave, of the first stages held at the Manchester Consulate. They needed a tax number (NIF), a NISS (social security number) and to take out private healthcare, so the total cost for their visas was €1,500. 'Once you get the stamp, you have three months to move to Portugal. Stage two means second appointments in June – in Portugal – but then we have a visa for a year, before we renew twice before becoming permanent residents after five years.' Until then, they are exploring Portugal – Porto is two hours north, and nearby Nazare is a vibrant year-round surfing town. 'The cost of living is much lower, too. A three-course meal with vinho verde is €10 each.' When Amber Hill and partner Charis, 32, felt America was heading in a direction that didn't align culturally with their values, they decided to move abroad. The entrepreneurs – who together run Franway, a franchise consultancy, and a home-building business in Pittsburgh – drew up a list of possible places. 'We travelled around Europe and our shortlist was Spain, Italy, the Netherlands or Portugal,' says Amber, 35, originally from Dallas. 'We researched visas and liked the sound of the Portuguese D2 (Entrepreneur) so much that we applied even before setting foot in the country.' The couple spent two days in Lisbon, two in Porto, and a day in the Algarve, but fell in love with Cascais, the upscale beach village west of Lisbon. They signed a lease on a rural property in nearby Estoril, which they moved into in January 2024. 'We are a 10-minute walk to the beautiful San Pedro beach, which is kept immaculately clean by volunteers. We love the gentle, slow life compared to the hustle and grind of the US.' They used GCS to assist them with the D2 application, which included producing American business accounts, a business plan, and at least $30,000 in their Portuguese bank account, plus an FBI check (British visa applicants similarly need an ACRO), and private healthcare cover. 'The whole process took about a year,' says Amber, who was able to take advantage of the NHR tax regime just before it ended (offering a flat tax rate of 20pc on income and exemptions on global income). The visa lasts two years, which they will then renew and hope to get dual citizenship after five years. 'We will stay here as long as it never becomes like the place we left,' she adds. Deb and Paul Leonard from Sheffield have dreamt of living in Portugal for 30 years. Last summer, they finally realised their plan to buy a home in the Algarve, after watching prices rise since 2019. 'Since our first road trip to look at properties we've seen prices nearly double,' says Deb, 60, a former police officer like Paul, 67. In August, they bought a one-bedroom apartment in Encosta de Marina, a popular complex in Lagos on the western Algarve, priced at €320,000 (through Algarve Retreats). 'We always preferred the Eastern Algarve – Tavira was our go-to, but it's not busy all year round, like Lagos,' says Deb. 'In March-May last year, we met so many like-minded expats.' But the couple, who have three children between them, and a new grandchild, do not want to move fully to Lagos – just half the year. They are going to apply for D7 visa. 'It's too hot for us June to August – so we intend doing 2.5 months in the spring and then two months in September. Four of the family are teachers so they can use it during school holidays.' They'll be running two properties, but Deb says the large apartment is not too expensive: €300 a year council tax, €59 a month pool/condo fees plus bills of €30 a month. Buying costs came to 4.5pc of the purchase price. 'But we look at the sunshine, not our bank account.' Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
