Latest news with #ICAP
Express Tribune
2 days ago
- Business
- Express Tribune
CA qualification instils leadership qualities: CM
Chief Minister Murad Ali Shah, addressing the Members' Convocation Ceremony for the Winter Batch 2024 of the Institute of Chartered Accountants of Pakistan (ICAP), stated that the rigorous journey to obtaining Chartered Accountant qualification instils discipline, ethics, and leadership qualities, transforming these professionals into trusted advisors and visionary leaders beyond mere numbers crunchers. The event, held at a local hotel, celebrated the achievements of the newly qualified Chartered Accountants and highlighted their vital role in the country's economic and professional landscape. Addressing the gathering, the CM expressed his honour and privilege to stand among Pakistan's brightest young minds. He described the convocation as more than a formal event - a joyous celebration of talent, perseverance, and the promising future these professionals represent for Pakistan. Murad emphasised the prestige of ICAP, calling it a national institution with a stellar reputation both domestically and internationally. He noted that ICAP has consistently produced exceptional professionals who have become finance leaders, auditors, CEOs, advisors, and entrepreneurs, contributing significantly to economic growth and stability. Highlighting the rigorous journey to becoming Chartered Accountants, the CM acknowledged that the qualification instils discipline, ethics, and leadership qualities that transform these professionals into trusted advisors and visionary leaders beyond mere number crunchers. Murad praised the elected governing Council of ICAP for safeguarding the profession's independence, championing innovation, and maintaining the highest standards to keep the institute aligned with global best practices. This, he said, prepares members to compete and lead on the world stage. To the newly qualified Chartered Accountants, the Chief Minister conveyed a powerful message: their success is not just about passing exams but about demonstrating dedication, consistency, and self-belief to achieve extraordinary milestones. He reminded them that their journey is just beginning and that their prestigious title carries worldwide respect and great responsibility. The Chief Minister called on these professionals to lead with integrity, sound judgment, and courage, whether in boardrooms, public service, or entrepreneurship. He underscored Pakistan's need for honest and capable leaders who set trends and drive meaningful change, especially in the public sector. He also lauded ICAP's commitment to merit, innovation, and professional excellence, recognising its crucial role in nurturing ethical and future-ready professionals. Acknowledging the families present, the Chief Minister appreciated their sacrifices and support, stating that this achievement belongs to them as much as to the graduates.
Forbes
3 days ago
- Business
- Forbes
How To Avoid The Worst Style ETFs In Q2 Of 2025
Tile letter on red rack in word ETF (abbreviation of Exchange Traded Fund) on wood background Question: Why are there so many ETFs? Answer: ETF issuance is profitable, so Wall Street keeps cranking out more products to sell. The large number of ETFs has little to do with serving your best interests as an investor. I leverage this data to identify three red flags you can use to avoid the worst ETFs: This issue is the easiest to avoid, and my advice is simple. Avoid all ETFs with less than $100 million in assets. Low levels of liquidity can lead to a discrepancy between the price of the ETF and the underlying value of the securities it holds. Small ETFs also generally have lower trading volume, which translates to higher trading costs via larger bid-ask spreads. ETFs should be cheap, but not all of them are. The first step is to benchmark what cheap means. To ensure you are paying at or below average fees, invest only in ETFs with total annual costs below 0.48%, – the average total annual cost of the 897 U.S. equity Style ETFs my firm covers. The weighted average is lower at 0.13%, which highlights how investors tend to put their money in ETFs with low fees. Figure 1 shows Infrastructure Capital Equity Income ETF (ICAP) is the most expensive style ETF and State Street SPDR Portfolio S&P 500 ETF (SPLG) is the least expensive. WBI provides three of the most expensive ETFs while State Street ETFs are among the cheapest. Figure 1: 5 Most and Least Expensive Style ETFs Most Expensive Style ETFs in 2Q25 Investors need not pay high fees for quality holdings. iShares Core S&P 500 ETF (IVV) is the best ranked style ETF in Figure 1. IVV's neutral Portfolio Management rating and 0.03% total annual cost earns it an attractive rating. Alpha Architect U.S. Quantitative Value ETF (QVAL) is one of the best ranked style ETFs overall. QVAL's attractive Portfolio Management rating and 0.32% total annual cost earns it a very attractive rating. On the other hand, Vanguard Small Cap Index Fund (VB) holds poor stocks and earns an Unattractive rating, despite having low total annual costs of 0.06%. No matter how cheap an ETF looks, if it holds bad stocks, its performance will be bad. The quality of an ETF's holdings matters more than its management fee. Avoiding poor holdings is by far the hardest part of avoiding bad ETFs, but it is also the most important because an ETFs performance is determined more by its holdings than its costs. Figure 2 shows the ETFs within each style with the worst portfolio management ratings, a function of the fund's holdings. Figure 2: Style ETFs with the Worst Holdings Worst Style ETFs in 2Q25 Invesco appears more often than any other providers in Figure 2, which means that they offer the most ETFs with the worst holdings. Invesco NASDAQ Future Gen 200 ETF (QQQS) is the worst rated ETF in Figure 2 based on my predictive overall rating. Motley Fool Small Cap Growth ETF (TMFS), Renaissance IPO ETF (IPO), and Invesco S&P Small Cap 600 Pure Value ETF (RZV) also earn a very unattractive predictive overall rating, which means not only do they hold poor stocks, they charge high total annual costs. Buying an ETF without analyzing its holdings is like buying a stock without analyzing its business model and finances. Put another way, research on ETF holdings is necessary due diligence because an ETF's performance is only as good as its holdings. PERFORMANCE OF ETFs HOLDINGs – FEES = PERFORMANCE OF ETF
Business Recorder
5 days ago
- Business
- Business Recorder
CFO Summit: Azfar calls for structural reforms and investor confidence
LAHORE: Muhammad Azfar Ahsan, Pakistan's former Minister for Investment and Chairman of Nutshell Group, delivered a compelling keynote address at the prestigious CFO Conference organized by the Institute of Chartered Accountants of Pakistan (ICAP) at a local Lahore. The event brought together top finance and business leaders from across the country to deliberate on Pakistan's evolving economic and investment landscape. Speaking on the theme 'Investment Opportunities in Pakistan: Evolving Business Climate,' Azfar Ahsan provided strategic insights into how Pakistan can navigate ongoing economic challenges while paving the way for sustainable and resilient growth. His thought-provoking address focused on the importance of aligning with global investment trends, fostering economic reforms, and rebuilding investor trust through policy continuity and institutional integrity. A key highlight of his session was the presentation of the 'National Investment Vision 2035', a forward-looking and transformative roadmap aimed at redefining Pakistan's investment future. The vision calls for a decisive shift toward structural reforms, institutional accountability, regulatory transparency, and consistent economic policy frameworks to position Pakistan as a competitive and attractive investment destination. Azfar emphasized that the participation of finance professionals, corporate leaders, and policymakers is critical to steering the country toward economic stability and inclusive growth. 'This is not just a vision, it's a call to action,' he stated. 'Pakistan's future depends on our ability to think long-term, act strategically, and invest in trust.' The CFO Conference, a flagship event by ICAP, serves as a platform for thought leadership, knowledge exchange, and policy dialogue. Azfar Ahsan's address was met with overwhelming appreciation from attendees, many of whom acknowledged the relevance and urgency of the ideas presented. Copyright Business Recorder, 2025
Business Recorder
5 days ago
- Business
- Business Recorder
PAIB Committee of ICAP holds ‘CFO Conference 2025'
LAHORE: The Professional Accountants in Business (PAIB) Committee of the Institute of Chartered Accountants of Pakistan (ICAP) organized CFO Conference 2025 on theme 'Quantum Leap: Agility & Competitive Edge' at a local hotel. A major highlight of the conference was the keynote address titled 'Leadership Metamorphosis: Recalibrating CFOs in Motion' by Syed Hyder Ali, Chief Executive and Managing Director of Packages Group. He examined the multidimensional evolution of the CFO role, shifting from traditional financial stewardship to becoming strategic business leaders. Hyder Ali emphasized the CFO's potential to drive innovation, performance, and resilience amid today's volatile economic climate. Saif Ullah, President of ICAP, in his keynote address, eloquently underscored the critical importance and timeliness of this year's theme. He reflected upon the unprecedented velocity of transformation reshaping the global financial and business landscape, emphasizing that today's finance leaders must cultivate agility, embrace disruptive technologies, and position themselves as strategic enablers. He further asserted that in an era defined by complexity and volatility, the ability to anticipate change and proactively drive value creation is no longer optional but imperative for sustained organizational success. Samiullah Siddiqui, Vice President of ICAP, conveyed his profound gratitude to the distinguished guests, organizing committee, ICAP Council Members, sponsors, and participants for their invaluable contributions to the success of the conference. He highlighted the evolving and pivotal role of CFOs as catalysts of organizational transformation not merely as stewards of financial integrity, but as visionary leaders driving digital integration, fostering a culture of ethical governance, and steering their institutions toward long-term, sustainable growth in an increasingly complex business environment. The conference proceeded with a thought-provoking panel discussion titled 'Empowered Growth: Leveraging the Digital Ecosystem', expertly moderated by Ms Sana Mela, Vice President Strategy at Swyft Logistics. The panel featured a distinguished lineup of speakers, including Atyab Tahir, CEO of Hugo Bank; Salman Hafeez, Executive Director at Nishat; and Faisal Khan, CEO of IGI General Insurance. The session offered deep insights into how businesses can unlock scalable growth through digital transformation, real-time data analytics, and enhanced financial agility. This was followed by an insightful presentation titled 'Ethics in AI: Safeguarding Trust & Transparency in Finance' by global technology thought leader Asmar Atif, Chief Intrapreneur and Head of Octopus Digital at Avanceon. He explored the intersection of artificial intelligence and ethics in finance, stressing the urgent need for robust governance structures to uphold transparency, trust, and accountability in algorithm-based financial decision-making. A second keynote address was delivered by Lee White, CEO, IFAC, titled 'Finance in the Age of Acceleration: Navigating Complexity with Agility.' White urged finance professionals to proactively embrace Artificial Intelligence, align with sustainability imperatives, and adopt inclusive leadership models to ensure continued relevance and competitiveness in an increasingly complex global economy. Further enriching the programme, Ashfaq Yusuf Tola, President of the South Asian Federation of Accountants (SAFA), delivered a presentation titled 'Redefining Finance: Quantum Thinking for Agile Times.' His address highlighted the significance of forward-thinking, adaptive finance strategies in uncertain and fast-changing environments. Adding a fresh perspective, Faizan Hanif, a young ICAP member, engaged in a dynamic conversation with Zunair Zafar, CfO, The International Grammar School, Lahore. Titled 'Unleash Your Superpower,' the discussion inspired emerging professionals to harness their strengths and lead with purpose in the finance domain. Copyright Business Recorder, 2025
Zawya
13-05-2025
- Business
- Zawya
Investcorp Capital achieves net profit of $41mln through the first three quarters of its fiscal year ‘25
RELATED TOPICS EARNINGS RELATED COMPANIES Strategic Cp Res Investcorp Capit Shyre Apt ICAP Abu Dhabi: Investcorp Capital plc (the 'Company' or 'Investcorp Capital') (ADX symbol: 'ICAP'), an investor in private markets and alternative investment opportunities, is pleased to announce its financial results for the third quarter of fiscal year 2025 covering the period ended 31 March 2025 ('Q3 2025'). Q3 2025 Highlights: YTD $71 million of cash distributable earnings, representing 82% growth quarter-on-quarter, underpinned by YTD FY'25 Net profit of $41 million, including Q3 2025 Net Profit of $13 million. $1.2 billion deployed across Capital Financing Services and Capital Deployment with total realizations of $824 million, through solid syndication activity and several successful exits including RESA Power in Private Equity and US National I Portfolio in Real Estate. Capital deployment exposure as a percentage of long-term capital at 90%, up from 66% in June 2024. Healthy balance sheet reflecting a diversified portfolio with 62% invested in yield generating assets. Strong cash distributable earnings. Mohamed Aamer, Interim Chief Executive Officer of Investcorp Capital, commented: ' The progress made this quarter is a continuation of Investcorp's 4-decade track record of solid performance through economic cycles, and demonstrates our commitment to delivering returns to investors, with an 82% increase in quarter-on-quarter cash distributable earnings. We have seen good business activity this year and unlocked value notably through the successful sale of RESA Power and the US National I Portfolio. Going forward, we will continue to target a diverse range of investment opportunities with the potential for strong returns on investment.' Rohit Nanda, Chief Financial Officer of Investcorp Capital, commented: 'We are pleased with the progress made so far this year, with total assets growing by 22% to $2.2 billion, up from $1.8 billion in June 2024, as we continue to grow our balance sheet is healthy and our high cash generation supports our commitment to deliver the 8% annualized dividend payment at the end of the fiscal year.' Operational Highlights In April, with the sale of the US National I Portfolio for an aggregate sale price of $360 million, the Company realized an approximate 40% increase in value over its initial purchase price, in addition to the rental distributions received during the hold period. The portfolio was sold to take advantage of the vibrant capital markets for industrial assets in the US and strong property operating fundamentals. Similarly, the sale of RESA Power generated strong returns. Since Investcorp's acquisition in 2021, RESA Power grew its revenues and EBITDA by over 4x and today serves thousands of commercial & industrial, utility and datacenter customers across North America. Capital Deployment The Company invested $356 million across asset classes and geographies so far in fiscal year 2025, including $237 million in structured products and $84 million in Corporate Investments across US and Europe. Co-investment in US Real Assets totaled $35 million, across Warehouse & Logistics, Student Housing and Infrastructure. Proceeds from Capital Deployment investment realizations over the period from various asset classes totaled $106 million. Of this, $54 million came from Global Credit, with distributions from Collateralized Loan Obligations (CLOs) in the US and Europe. $32 million came from Corporate Investments in US and MENA. $15 million came in ongoing rental yield distributions from multiple Real Estate portfolios in the US. $5m came from Strategic Capital. Capital Financing Services Performance within the Capital Financing Services business continued to be strong, generating a 10% annualized return with $854 million deployed across asset classes in the last ninemonths. This was primarily driven by $482 million in Real Assets, deployed in the Diversified Data Center Portfolio, Baltimore & Minneapolis Industrial Portfolio, US Student Housing IV Portfolio and US Student Housing V Portfolio. $271million was deployed in Corporate Investments, including Miebach in Germany, PKF O'Connor Davies in the US and Epipoli in Italy. A further $101 million in Global Credit was deployed across various CLOs. Offsetting this, the Company benefited from continued solidsyndication activity from the broader Investcorp group, with $718 million of total syndication, the majority of which came from Real Assets, amounting to $465 million. Corporate Investments syndication stood at $211 million, Global Credit was $41 million, and Strategic Capital was $1 million. Outlook The Company has made good progress fiscal year to date with continued profitability and growth on a quarter-on-quarter basis. Looking forward to the remainder of fiscal year 2025 and into 2026, the Company will continue to capitalize on the activity of 2025, looking for attractive exit and investment opportunities in line with its stated long-term objective of delivering attractive long-term returns on invested capital.
