COMMODITIES NOW
energy and essential foodstuffs in particular to unwarranted highs – hitting the poorest in the world. Barclays chief Antony Jenkins even went so far as to say that the bank would stop speculating on food prices, saying the practice was “not compatible with our purpose”. He did not, however, make clear whether the bank would continue to broker speculative deals for its clients. Campaigners have renewed calls for
tougher regulations to prevent speculation which “fuels price spikes” and “contributes to global
hunger”. The World Development
Movement has gone to extreme – and effective – lengths in developing their Bankers Anonymous campaign to help ‘bankers’ (presumably they mean ‘traders’) quit their “food gambling addition”. But it is the Oxfam roadshow
that is causing the biggest stir. Speculating on Hunger accuses banks trading agricultural commodities
Commodity Banks Commodities revenue at the 10 largest banks
slumped 24% last year according to financial services analytics company Coalition – the first drop since at least 2008. The total fell to $6 bn from $8 bn in 2011, London-based Coalition reports.
... the fundamental cause of rising food prices is sharply rising demand that is not yet matched by supply
“Performance was also subdued by ongoing
concerns about increased regulation and capital sensitivity, pushing banks to re-evaluate their commodities strategies.”
of transmitting
poverty across the globe. Their success in the UK, France and Germany (so far) is palpable. Several banks – BNP Paribas, Crédit Agricole, and Commerzbank among them –
have closed
agricultural funds. Others, however, have chosen to hold their ground. “The vast majority of studies
agree that the fundamental cause of rising food prices is sharply rising demand that is not yet matched by supply,” according to Deutsche Bank research. “Demand is surging because of population and income growth in developing countries while production is limited by water scarcity, climate change, lack of infrastructure and harvest waste.” Deutsche added (appropriately and possibly to try and diffuse the debate) that $80bn+ is required for agricultural sector investment each year to increase farming productivity and meet increasing food demand. The bank’s working group noted: “Without significant investments in agriculture, rising prices will become a permanent fixture ... We support these investment needs.”
DECLARATION OF DISTRIBUTION or suspended
INSCH INSIGHT LTD CLASS E SHARES
The Directors of Insch Insight Ltd are pleased to announce
the quarterly distribution of 9.50% p.a. to the shareholders of record of the Class E Shares as of 31st March 2013
Distribution will be made on or before 10th April 2013
Insch Black Gold Is A Secured Income Investment Derived From Oil Revenues From Canadian Properties
Insch Insight Ltd is a “Professional Fund” within the meaning of the British Virgin Islands Mutual Funds Act 1996 (as amended) (the “Act”) and accordingly its shares may only be made available to persons who are “Professional Investors” within the meaning of the Act and on the basis that the initial investment in the Fund by each of
its shareholders is not appear less than USD $200,000. The Directors whose names in the Offering Memorandum accept responsibility for the information
contained in this Declaration of Distribution. To the best knowledge and belief of the Directors (who have taken all reasonable care to ensure that such is the case) the information contained in this Declaration of Distribution is in accordance with the facts and does not omit anything likely to affect the import of such information. The Directors accept responsibility accordingly. The purpose of this announcement is for information only and does not constitute an off or a solicitation.
CUSIP Number: G47343127 ISIN Number: VGG473431275
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