TC Magister

What's that?!

'It's a new entity, boss.'

What, like a new monster or something???

'No.'

Oh.

I'm bored already.

Hi Michael,

'Who the hell is that?!'

I don't know.

'It might be that new monster you were going on about.'

Maybe.

Boutique investment bank DAI Magister has partnered with TC Capital, an established investment bank in Asia, to form the new entity TC Magister.

Oh, right. I understand now.

TC Magister is an advisory arm in Asia focused solely on climate related projects. It will be chaired by Marc Deschamps, co-head of DAI Magister, and Ravi Chidambaram, Co-Founder and President of TC Capital, will serve as CEO.

Please see the full release below for more details. If you would like an interview with Marc, please get in touch.

Many thanks,

Joe

'It's Joe!'

Yeah, right. Joe who?! Never mind.

'Joe the monster!'

Ha, ha, ha! Don't be ridiculous, Voice.

Oh, I don't give interviews, by the way. I'm all mysterious, like Prince.

DAI Magister, the boutique investment bank offering full advisory services for transactions within the climate tech, fintech, tech-enabled commerce and communications sectors, has announced a new partnership with TC Capital, an established investment bank in Asia.

Under the terms of the partnership "TC Magister" will be created, a pure-play sustainability and climate tech focused advisory service covering Asia, based out of Singapore.

With existing mandates within the climate tech space and more climate related projects in the pipeline, TC Capital itself was established to provide emerging, high-growth and mid cap tech companies and private equity funds in emerging and established Asia markets with the same quality investment banking services offered to large companies. 

Okay. What does Marc say though? 'What does he state?' What?! 'What does he state, boss?' Oh, Christ. It's going to be one of those days.

I can just tell.

Marc Deschamps, Chairman, TC Magister, states: "Asia stands at the forefront of many climate initiatives. Across Asia-Pacific (APAC), more than 15 countries and 670 companies have set (or are committed to setting) emission-reduction targets, thereby creating new investment opportunities in green technology, according to McKinsey. But it must not be overlooked that the region also benefits from an extensive nature-based capital asset that can play a significant role in contributing to worldwide net zero, while simultaneously preserving biodiversity and ecosystem functions.

"It is our view that climate-tech investment has multiplied in a very short space of time - so much so that over the next year or two, climate-related tech investing will become the single biggest tech investment area worldwide."

All right, Marc. Thanks for stating that. You could have just "said" something like everyone else, but I suppose you want to be special, don't you?

Unbelievable!

'Boss.'

What, Voice?

'Ravi wants to add something.' Okay. Are you sure he doesn't want to state something because I'm not in the mood. 'He wants to add, I promise you.' Fine.

Ravi? Come on, son!

Ravi Chidambaram, CEO, TC Magister, adds: "With the United Nations promoting its Sustainable Development Goals (SDGs), many in Southeast Asia are now actively engaging and we are seeing a huge rise in climate tech start-ups. Investment in the climate tech sector is on the rise, as venture capitalists, angel investors, and government-backed environmental, social and corporate governance (ESG) programmes evaluate sustainability and eco-credentials when considering funding. 

"We are delighted to have joined forces with DAI Magister to launch this new initiative - TC Magister - bringing as it does the skills and knowledge of our two businesses together to offer a bespoke funding vehicle throughout Southeast Asia and beyond."

Nice one! Thanks, man.

The senior management team at TC Magister will also include Dr Tommy Tan, the Co-Founder and CEO of TC Capital and Masaru Shibata, the current MD of TC Capital.

Yeah, whatever.

And ...

ENDS

ENDS

ENDS

...

Anything else?

Music?

I just need a few more words to put into the verses for Lovers On The Make, and then I'm done.

'Yippee!'

Yeah.

That will be five songs written this year. Although I already had the music for four of them.

I don't want to get in that situation again, you know, where I have loads of tunes with no lyrics.

One complete song at a time from now on!

I'm definitely addicted. I mean, I'm wondering what the next song will be like. Just trying to imagine, you dig?

There's no ultimate satisfaction, man. You have to keep going. Well, I do.

Laters.

The more I read about the music business ...

Mainly on the Guardian website ...

The more convinced I become that I've been doing the right thing all these years, and, you know ... had the right strategy, you dig?

Listen!

You've got to be a superstar like Ed Sheeran or Beyonce, or ... you're going to have a hard time of it.

No way to make a living ...

'Which one are you going to be, boss? Beyonce or -'

Shut up, idiot! I'm going to be myself, Voice, aren't I? Michael Fowke. The greatest of all times! I'm so mean, I make medicine sick, etc, etc.

'Oh, okay. I was just asking.'

Idiot!

Anyway ...

Yeah, that's the way it is. The hard way. So be it!

So, I'm so ooo glad I've done the work to get my BIG TEN of songs, well, BIG ELEVEN, when originally - after the 2016 demo - I was just looking for one BIG song, which turned out to be This World Don't Mean a Thing.

2016-2018 ... the final version of it, I mean, two years!

I'm still hoping to promote the 2023 demo on Twitter, if the platform still exists next year ...

I mean ... Christ. Do you know what I mean?

'Elon will get a grip, sooner or later.'

You reckon? I tell you ... I don't fancy paying for it.

Never mind.

Anyway ... I will need all three major record companies to take an interest. 'What about two of them, Mikey? Two would be good.' Three, Voice! All three! Open your ears. 'I ain't got no ears!'

He's got astral ears. Don't let him fool you, kooks.

This will be the demo -

Mighty Soul

Shady, Dodgy, Shifty

The Future

And I could add two more songs ...

Nothing

Life and Death

Mighty Soul

Shady, Dodgy, Shifty

The Future

... at a later date, if I needed to.

Yeah ...

But I don't think I'll need to. 

'Those other two aren't commercial though.'

It doesn't matter, man. They're my most serious songs. And some people will think they're better than those other three.

Just the way some people are ...

Nothing I can do about it ...

Actually, I really like Life and Death now.

Anyway ...

Laters!

Oh, by the way, this is the order I'll upload the songs to YouTube -

Mighty Soul

Shady, Dodgy, Shifty

The Future

'Same order as above.' Yeah, yeah.

Then maybe ...

Nothing

Life and Death

Mighty Soul

Shady, Dodgy, Shifty

The Future

'Same order as above.' Yeah, yeah.

I mean, the bottom songs first ... so the top ones appear at the top, like.

I'm not going to use my music blog, and I'll just link to my YouTube channel from my Twitter bio.

Or maybe I should go with all five from the start ...

Mighty Soul

Shady, Dodgy, Shifty

The Future

Nothing

Life and Death

???

'Oh, you're crazy!!!'

Listen! I might have to buy a one-way ticket to St Ives. I mean if ...

'To live there???'

Yeah, right. Live there. Live in the fucking sea, with my friends the dolphins.

Laters.

[No. 1,048] Surfers in the dark

After the sun's gone down ... they're still out there!

And, St Ives[1], and on the waves![1], and, St Ives[2], and into the night - with the stars and the moon![1], and on the waves![2], and like ghosts on the water![1], and into the night - with the stars and the moon![2], and, yeah, yeah[1], and like ghosts on the water![2], and, or, or, or ... like vampires!!![1], and, yeah, yeah[2], and, uh ... like us, actually! ... oh, yes ... a-ROUND, and a-ROUND, and a-ROUND ... yes, we can spin at any time[1], and, or, or, or ... like vampires!!![2], and ... can't we, kooks?[1], and, uh ... like us, actually! ... oh, yes ... a-ROUND, and a-ROUND, and a-ROUND ... yes, we can spin at any time[2], and, but, but, but ... the dark comes early in November[1], and ... can't we, kooks?[2], and just like Bodhi and Johnny![1], and, but, but, but ... the dark comes early in November[2], and in that scene ... you know??? ... during the party on the beach[1], and just like Bodhi and Johnny![2], and, yeah, you know[1], and in that scene ... you know??? ... during the party on the beach[2], and ... of course you do! ... you, you, YOU(!)[1], and, yeah, you know[2], and were you there ... in spirit, like?[1], and ... of course you do! ... you, you, YOU(!)[2], and ... 'Where?!'[1], and were you there ... in spirit, like?[2], and ... in Cornwall, I don't think they rob banks during the day ... probably just relax with cider and pasties[1], and ... 'Where?!'[2], and in the early mornings, too[1], and ... in Cornwall, I don't think they rob banks during the day ... probably just relax with cider and pasties[2], and, but, but, but ... not Sunday morning, I noticed ... 'Very sensible!'[1], and in the early mornings, too[2], and here we are![1], and, but, but, but ... not Sunday morning, I noticed ... 'Very sensible!'[2], and we can surf the internet ... night or day ... while we spin ourselves into a dizzy mess of broken words[1], and here we are![2], and ... 'Do we still break them?'[1], and we can surf the internet ... night or day ... while we spin ourselves into a dizzy mess of brok en w ords[2], and it all depends on our mood(s), don't it?[1], and ... 'Do we still break them?'[2], and a-ROUND, and a-ROUND, and a-ROUND, ha! ... maybe splashing ... in astral sea ... who knows?![1], and it all depends on our mood(s), don't it?[2], and ... 'Where are the cosmic dolphins, Mikey?'[1], and a-ROUND, and a-ROUND, and a-ROUND, ha! ... maybe splashing ... in astral sea ... who knows?![2], and, well ... well ... well ... Where would you like them, Voice? ... you've only got to use the power of your mind[1], and ... 'Where are the cosmic dolphins, Mikey?'[2], and, uh ... your soul, whatever, same thing, like, I suppose[1], and, well ... well ... well ... Where would you like them, Voice? ... you've only got to use the power of your mind[2], and, are you ... 'Me?!' ... anyone ... feeling cold in this winter??? ... I wouldn't worry[1], and, uh ... your soul, whatever, same thing, like, I suppose[2], and with my positive mindset these days ...[1], and, are you ... 'Me?!' ... anyone ... feeling cold in this winter??? ... I wouldn't worry[2], and I can conjure up anything ... just like Merlin[1], and with my positive mindset these days ...[2], and I can tell you NOW ...[1], and I can conjure up anything ... just like Merlin[2], and, that, that ...[1], and I can tell you NOW ...[2], and ... are you listening?[1], and, that, that ...[2], and this here ... is our endless summer![1], and ... are you listening?[2], and ... 'Yippee!'[1], and this here ... is our endless summer![2], and, enjoy![1], and ... 'Yippee!'[2], and, St Ives[3], and, enjoy![2], and on the waves![3], and into the night - with the stars and the moon![3], and like ghosts on the water![3], and, yeah, yeah[3], and, or, or, or ... like vampires!!![3], and, uh ... like us, actually! ... oh, yes ... a-ROUND, and a-ROUND, and a-ROUND ... yes, we can spin at any time[3], and ... can't we, kooks?[3], and, but, but, but ... the dark comes early in November[3], and just like Bodhi and Johnny![3], and in that scene ... you know??? ... during the party on the beach[3], and, yeah, you know[3], and ... of course you do! ... you, you, YOU(!)[3], and were you there ... in spirit, like?[3], and ... 'Where?!'[3], and ... in Cornwall, I don't think they rob banks during the day ... probably just relax with cider and pasties[3], and in the early mornings, too[3], and, but, but, but ... not Sunday morning, I noticed ... 'Very sensible!'[3], and here we are![3], and we can surf the internet ... night or day ... while we spin ourselves into a dizzy mess of b  r  o  k  e  n w  o  r  d  s[3], and ... 'Do we still break them?'[3], and it all depends on our mood(s), don't it?[3], and a-ROUND, and a-ROUND, and a-ROUND, ha! ... maybe splashing ... in astral sea ... who knows?![3], and ... 'Where are the cosmic dolphins, Mikey?'[3], and, well ... well ... well ... Where would you like them, Voice? ... you've only got to use the power of your mind[3], and, uh ... your soul, whatever, same thing, like, I suppose[3], and, are you ... 'Me?!' ... anyone ... feeling cold in this winter??? ... I wouldn't worry[3], and with my positive mindset these days ...[3], and I can conjure up anything ... just like Merlin[3], and I can tell you NOW ...[3], and, that, that ...[3], and ... are you listening?[3], and this here ... is our endless summer![3], and ... 'Yippee!'[3], and, enjoy![3], and

And, St Ives[1], and on the waves![1], and, St Ives[2], and into the night - with the stars and the moon![1], and on the waves![2], and like ghosts on the water![1], and into the night - with the stars and the moon![2], and, yeah, yeah[1], and like ghosts on the water![2], and, or, or, or ... like vampires!!![1], and, yeah, yeah[2], and, uh ... like us, actually! ... oh, yes ... a-ROUND, and a-ROUND, and a-ROUND ... yes, we can spin at any time[1], and, or, or, or ... like vampires!!![2], and ... can't we, kooks?[1], and, uh ... like us, actually! ... oh, yes ... a-ROUND, and a-ROUND, and a-ROUND ... yes, we can spin at any time[2], and, but, but, but ... the dark comes early in November[1], and ... can't we, kooks?[2], and just like Bodhi and Johnny![1], and, but, but, but ... the dark comes early in November[2], and in that scene ... you know??? ... during the party on the beach[1], and just like Bodhi and Johnny![2], and, yeah, you know[1], and in that scene ... you know??? ... during the party on the beach[2], and ... of course you do! ... you, you, YOU(!)[1], and, yeah, you know[2], and were you there ... in spirit, like?[1], and ... of course you do! ... you, you, YOU(!)[2], and ... 'Where?!'[1], and were you there ... in spirit, like?[2], and ... in Cornwall, I don't think they rob banks during the day ... probably just relax with cider and pasties[1], and ... 'Where?!'[2], and in the early mornings, too[1], and ... in Cornwall, I don't think they rob banks during the day ... probably just relax with cider and pasties[2], and, but, but, but ... not Sunday morning, I noticed ... 'Very sensible!'[1], and in the early mornings, too[2], and here we are![1], and, but, but, but ... not Sunday morning, I noticed ... 'Very sensible!'[2], and we can surf the internet ... night or day ... while we spin ourselves into a dizzy mess of broken words[1], and here we are![2], and ... 'Do we still break them?'[1], and we can surf the internet ... night or day ... while we spin ourselves into a dizzy mess of brok en w ords[2], and it all depends on our mood(s), don't it?[1], and ... 'Do we still break them?'[2], and a-ROUND, and a-ROUND, and a-ROUND, ha! ... maybe splashing ... in astral sea ... who knows?![1], and it all depends on our mood(s), don't it?[2], and ... 'Where are the cosmic dolphins, Mikey?'[1], and a-ROUND, and a-ROUND, and a-ROUND, ha! ... maybe splashing ... in astral sea ... who knows?![2], and, well ... well ... well ... Where would you like them, Voice? ... you've only got to use the power of your mind[1], and ... 'Where are the cosmic dolphins, Mikey?'[2], and, uh ... your soul, whatever, same thing, like, I suppose[1], and, well ... well ... well ... Where would you like them, Voice? ... you've only got to use the power of your mind[2], and, are you ... 'Me?!' ... anyone ... feeling cold in this winter??? ... I wouldn't worry[1], and, uh ... your soul, whatever, same thing, like, I suppose[2], and with my positive mindset these days ...[1], and, are you ... 'Me?!' ... anyone ... feeling cold in this winter??? ... I wouldn't worry[2], and I can conjure up anything ... just like Merlin[1], and with my positive mindset these days ...[2], and I can tell you NOW ...[1], and I can conjure up anything ... just like Merlin[2], and, that, that ...[1], and I can tell you NOW ...[2], and ... are you listening?[1], and, that, that ...[2], and this here ... is our endless summer![1], and ... are you listening?[2], and ... 'Yippee!'[1], and this here ... is our endless summer![2], and, enjoy![1], and ... 'Yippee!'[2], and, St Ives[3], and, enjoy![2], and on the waves![3], and into the night - with the stars and the moon![3], and like ghosts on the water![3], and, yeah, yeah[3], and, or, or, or ... like vampires!!![3], and, uh ... like us, actually! ... oh, yes ... a-ROUND, and a-ROUND, and a-ROUND ... yes, we can spin at any time[3], and ... can't we, kooks?[3], and, but, but, but ... the dark comes early in November[3], and just like Bodhi and Johnny![3], and in that scene ... you know??? ... during the party on the beach[3], and, yeah, you know[3], and ... of course you do! ... you, you, YOU(!)[3], and were you there ... in spirit, like?[3], and ... 'Where?!'[3], and ... in Cornwall, I don't think they rob banks during the day ... probably just relax with cider and pasties[3], and in the early mornings, too[3], and, but, but, but ... not Sunday morning, I noticed ... 'Very sensible!'[3], and here we are![3], and we can surf the internet ... night or day ... while we spin ourselves into a dizzy mess of b  r  o  k  e  n w  o  r  d  s[3], and ... 'Do we still break them?'[3], and it all depends on our mood(s), don't it?[3], and a-ROUND, and a-ROUND, and a-ROUND, ha! ... maybe splashing ... in astral sea ... who knows?![3], and ... 'Where are the cosmic dolphins, Mikey?'[3], and, well ... well ... well ... Where would you like them, Voice? ... you've only got to use the power of your mind[3], and, uh ... your soul, whatever, same thing, like, I suppose[3], and, are you ... 'Me?!' ... anyone ... feeling cold in this winter??? ... I wouldn't worry[3], and with my positive mindset these days ...[3], and I can conjure up anything ... just like Merlin[3], and I can tell you NOW ...[3], and, that, that ...[3], and ... are you listening?[3], and this here ... is our endless summer![3], and ... 'Yippee!'[3], and, enjoy![3], and

And, St Ives[1], and on the waves![1], and, St Ives[2], and into the night - with the stars and the moon![1], and on the waves![2], and like ghosts on the water![1], and into the night - with the stars and the moon![2], and, yeah, yeah[1], and like ghosts on the water![2], and, or, or, or ... like vampires!!![1], and, yeah, yeah[2], and, uh ... like us, actually! ... oh, yes ... a-ROUND, and a-ROUND, and a-ROUND ... yes, we can spin at any time[1], and, or, or, or ... like vampires!!![2], and ... can't we, kooks?[1], and, uh ... like us, actually! ... oh, yes ... a-ROUND, and a-ROUND, and a-ROUND ... yes, we can spin at any time[2], and, but, but, but ... the dark comes early in November[1], and ... can't we, kooks?[2], and just like Bodhi and Johnny![1], and, but, but, but ... the dark comes early in November[2], and in that scene ... you know??? ... during the party on the beach[1], and just like Bodhi and Johnny![2], and, yeah, you know[1], and in that scene ... you know??? ... during the party on the beach[2], and ... of course you do! ... you, you, YOU(!)[1], and, yeah, you know[2], and were you there ... in spirit, like?[1], and ... of course you do! ... you, you, YOU(!)[2], and ... 'Where?!'[1], and were you there ... in spirit, like?[2], and ... in Cornwall, I don't think they rob banks during the day ... probably just relax with cider and pasties[1], and ... 'Where?!'[2], and in the early mornings, too[1], and ... in Cornwall, I don't think they rob banks during the day ... probably just relax with cider and pasties[2], and, but, but, but ... not Sunday morning, I noticed ... 'Very sensible!'[1], and in the early mornings, too[2], and here we are![1], and, but, but, but ... not Sunday morning, I noticed ... 'Very sensible!'[2], and we can surf the internet ... night or day ... while we spin ourselves into a dizzy mess of broken words[1], and here we are![2], and ... 'Do we still break them?'[1], and we can surf the internet ... night or day ... while we spin ourselves into a dizzy mess of brok en w ords[2], and it all depends on our mood(s), don't it?[1], and ... 'Do we still break them?'[2], and a-ROUND, and a-ROUND, and a-ROUND, ha! ... maybe splashing ... in astral sea ... who knows?![1], and it all depends on our mood(s), don't it?[2], and ... 'Where are the cosmic dolphins, Mikey?'[1], and a-ROUND, and a-ROUND, and a-ROUND, ha! ... maybe splashing ... in astral sea ... who knows?![2], and, well ... well ... well ... Where would you like them, Voice? ... you've only got to use the power of your mind[1], and ... 'Where are the cosmic dolphins, Mikey?'[2], and, uh ... your soul, whatever, same thing, like, I suppose[1], and, well ... well ... well ... Where would you like them, Voice? ... you've only got to use the power of your mind[2], and, are you ... 'Me?!' ... anyone ... feeling cold in this winter??? ... I wouldn't worry[1], and, uh ... your soul, whatever, same thing, like, I suppose[2], and with my positive mindset these days ...[1], and, are you ... 'Me?!' ... anyone ... feeling cold in this winter??? ... I wouldn't worry[2], and I can conjure up anything ... just like Merlin[1], and with my positive mindset these days ...[2], and I can tell you NOW ...[1], and I can conjure up anything ... just like Merlin[2], and, that, that ...[1], and I can tell you NOW ...[2], and ... are you listening?[1], and, that, that ...[2], and this here ... is our endless summer![1], and ... are you listening?[2], and ... 'Yippee!'[1], and this here ... is our endless summer![2], and, enjoy![1], and ... 'Yippee!'[2], and, St Ives[3], and, enjoy![2], and on the waves![3], and into the night - with the stars and the moon![3], and like ghosts on the water![3], and, yeah, yeah[3], and, or, or, or ... like vampires!!![3], and, uh ... like us, actually! ... oh, yes ... a-ROUND, and a-ROUND, and a-ROUND ... yes, we can spin at any time[3], and ... can't we, kooks?[3], and, but, but, but ... the dark comes early in November[3], and just like Bodhi and Johnny![3], and in that scene ... you know??? ... during the party on the beach[3], and, yeah, you know[3], and ... of course you do! ... you, you, YOU(!)[3], and were you there ... in spirit, like?[3], and ... 'Where?!'[3], and ... in Cornwall, I don't think they rob banks during the day ... probably just relax with cider and pasties[3], and in the early mornings, too[3], and, but, but, but ... not Sunday morning, I noticed ... 'Very sensible!'[3], and here we are![3], and we can surf the internet ... night or day ... while we spin ourselves into a dizzy mess of b  r  o  k  e  n w  o  r  d  s[3], and ... 'Do we still break them?'[3], and it all depends on our mood(s), don't it?[3], and a-ROUND, and a-ROUND, and a-ROUND, ha! ... maybe splashing ... in astral sea ... who knows?![3], and ... 'Where are the cosmic dolphins, Mikey?'[3], and, well ... well ... well ... Where would you like them, Voice? ... you've only got to use the power of your mind[3], and, uh ... your soul, whatever, same thing, like, I suppose[3], and, are you ... 'Me?!' ... anyone ... feeling cold in this winter??? ... I wouldn't worry[3], and with my positive mindset these days ...[3], and I can conjure up anything ... just like Merlin[3], and I can tell you NOW ...[3], and, that, that ...[3], and ... are you listening?[3], and this here ... is our endless summer![3], and ... 'Yippee!'[3], and, enjoy![3], and

Are we lucky enough to have Lucky here with us now???

What do YOU(!) ... think?

'Are you asking me, boss?'

Yes, Voice.

'Well, I think he's here. I think Lucky is here with us - now!'

Ha, ha, ha! What? All the way from the astral plane? I suppose it's not impossible ...

Please find attached the press release regarding the closing, by Vauban Infrastructure Partners, of the refinancing of Progeni S.p.A, a dedicated company, that manages the concession contract for the provision of non-sanitary services to the Niguarda Hospital in Milan.

Ha, ha, ha! And that's how it starts. It all seems so innocent, doesn't it? 'Please find attached!' And then we open the attachment ...

In late 2020, Vauban, through Core Infrastructure Fund III SCS, acquired 75% in Progeni S.p.A, to provide essential services to users of social infrastructure, grantors, public authorities, and investors over the long term. This investment is fully aligned with Vauban's strategy of finding projects that bring positive impact to local communities over decades, as well as ensuring that stable and sound management of contracts produce the best outcome for all stakeholders. The refinancing operation once again shows Vauban's constant commitment to invest in projects, making sure the interest of all the stakeholders being preserved that.

'Er ... is that it, boss?'

Don't be silly. Look at the punctuation. Look at the almost "sense" - such as it is.

Don't hesitate to contact me for any further information.

Best,

Estelle

'Oh.'

Yes, that was Estelle.

Now I'm opening the PDF attachment ...

THIS IS LUCKY - !!! ...

Paris November 7th 2022  Vauban  Infrastructure  Partners  announces the  closing of  the  refinancing  of Progeni         SpA the SPV!!!      Special  Purpose  Vehicle holding     the  concession  contract  for  the provision of non    sanitary services to the Niguarda Hospital in Milan Vauban  Infrastructure  Partners          "Vauban!"      is delighted to  announce  the closing  of the  refinancing of Progeni   SpA           "Progeni!"      a dedicated company majority owned by Core Infrastructure      Fund III    SCS that manages the concession contract for the provision of non     sanitary services to the Niguarda Hospital in     Milan Vauban indirectly hold a majority stake in Progeni alongside industrial co        shareholders including the company Società Cooperativa Muratori e Braccianti di Carpi       CMB the  landmark!!!    refinancing carried  out  in  a  complex  macro      economic  environment  alongside  Societe Generale Crédit Agricole     CIB and BPER          Banca is comprised        of two tranches provided through a       club deal the financing!!!     has been structured as Social Loan confirming the commitment of Vauban Progeni   and lenders to social responsibility with Crédit Agricole CIB   acting as Social Loan          Coordinator the project is regulated by a concession agreement signed in 2006 between Progeni and ASST Grande Ospedale  Metropolitano      Niguarda the Grantor!!!    the  concession  scope  consists  of  the  initial redevelopment of the hospital and the management of follow       on services during the operating phase the construction of the hospital was completed in 2013 and operations will last until 2033 the project is currently in its operating phase providing non     sanitary services to the hospital such as maintenance and management of buildings and heating systems   provision of catering services for patients and employees   cleaning and waste disposal services and rental of commercial spaces  Niguarda          hospital is one of the largest and most advanced facilities in the Milanese healthcare system providing essential medical services to the local           communities the hospital!!!      covers all specialties for adults and  children  and  provides  care  for  all        diseases  via  complete       and  holistic  treatments  with  a multidisciplinary           approach in 2020 the hospital was named one of the top 50 hospitals in the world        by Newsweek Magazine in late 2020 Vauban through Core Infrastructure Fund III SCS    acquired 75% in Progeni Spa      to provide essential services to users of social infrastructure grantors public authorities and investors over the long term this investment is fully aligned with Vaubans strategy of finding projects that bring positive impact to local communities over decades as well as ensuring that stable and sound management of contracts produce the best outcome for all stakeholders the refinancing operation once again shows Vaubans constant commitment to invest in projects making sure the interest of all the stakeholders           being preserved that Progenis      advisor suite has been instrumental in carrying out this refinancing debt Advisory was led by EY Italy BonelliErede acted as Borrower Legal Advisor and Gianni         & Origoni as Lenders Legal Advisor due diligences were carried out by Dentons Europe Studio Legale Tributario        Legal Arup          Technical marsh Insurance    KPMG acted              as Model                       Auditor Christelle Destors         Lepoutre Investment Director & Partner at Vauban Infrastructure Partners comments two  years  ago            Vauban  Infrastructure  Partners  strengthened  its  presence  in  Social  Infrastructure  by investing in the Niguarda Hospital concession in     Milan Vauban is now proud to create additional value by refinancing the project which acts as an enabler for Progeni to best carry out its mission and represents an important milestone in Vaubans    investment strategy in Italy C2       internal Natixis about  Vauban  Infrastructure  Partners  Vauban  Infrastructure  Partners  is  a  leading  Infrastructure  Asset Manager focused on the European core infrastructure investments headquartered in Paris it employs 65 professionals working together since a decade Vauban is the fully fledged affiliate of Natixis Investment Managers  dedicated  to  sustainable  infrastructure  equity  investments  Vauban  targets  predominantly European  brownfield       mid   market  assets  pursuing  a  long     term  yield         driven  strategy  matching  the underlying nature of assets and long         term commitment to all stakeholders interests through a strong focus on creating sustainable         value Vauban  has raised over    €7.2 billion across 6        funds  in core infrastructure from over 100         investors within!!!         17 different countries and has invested      in over 70 assets in mobility energy        transition social    & digital infrastructure across 13 different

Thirteen different? Thirteen different what, Lucky?!

'He's gone.'

He's gone?!

'Just like that, boss. He went.'

Oh ... and now he's gone, Voice.

Lucky is gone!

'We must go, too ... for a while.'

Yes, I suppose we must.

'Bye.'

[No. 1,047] Does the future exist?

Does the past exist?

And, well ...[1], and hello, hello[1], and, well ...[2], and where are we now??? ... answers on a postcard ... but I have no Jammie Dodgers for you[1], and hello, hello[2], and ... 'What?!'[1], and where are we now??? ... answers on a postcard ... but I have no Jammie Dodgers for you[2], and I'm on a diet[1], and ... 'What?!'[2], and just look at us!!![1], and I'm on a diet[2], and I truly believe that this ... is our moment ... or maybe ... this ... is our moment ... ... ... ???[1], and just look at us!!![2], and, I ...[1], and I truly believe that this ... is our moment ... or maybe ... this ... is our moment ... ... ... ???[2], and the truth is ...[1], and, I ...[2], and, er, er, er ... ... ...[1], and the truth is ...[2], and,,, What is the truth?[1], and, er, er, er ... ... ...[2], and ... 'Er ...'[1], and,,, What is the truth?[2], and the truth is ... come on, kooks! ... our moments are total bastards ... always passing away[1], and ... 'Er ...'[2], and sadly, very sadly[1], and the truth is ... come on, kooks! ... our moments are total bastards ... always passing away[2], and,,, What can we do about the situation?[1], and sadly, very sadly[2], and  ... 'We can store them here, Mikey!'[1], and,,, What can we do about the situation?[2], and, oh ... we can try, Voice[1], and  ... 'We can store them here, Mikey!'[2], and I'm up for it![1], and, oh ... we can try, Voice[2], and a-ROUND, and a-ROUND, and a-ROUND ... / ... and, yes ... we can try our best to hold on to them[1], and I'm up for it![2], and one moment ...[1], and a-ROUND, and a-ROUND, and a-ROUND ... / ... and, yes ... we can try our best to hold on to them[2], and staring at the sea ... that's fine[1], and one moment ...[2], and ... 'I love the sea!'[1], and staring at the sea ... that's fine[2], and a-ROUND, and a-ROUND, and a-ROUND ... / ... and, yes ... we can try our best to hold on to ALL OF THEM[1], and ... 'I love the sea!'[2], and ... 'Well, the ones we like'[1], and a-ROUND, and a-ROUND, and a-ROUND ... / ... and, yes ... we can try our best to hold on to ALL OF THEM[2], and ... here - !!![1], and ... 'Well, the ones we like'[2], and another moment ...[1], and ... here - !!![2], and staring at the moon ... that's fine[1], and another moment ...[2], and ... 'I love the moon!'[1], and staring at the moon ... that's fine[2], and we won't forget, will we? ... and, uh ... no one who reads and spins will forget, will they?[1], and ... 'I love the moon!'[2], and, but, but, but ... we will forget the past ...[1], and we won't forget, will we? ... and, uh ... no one who reads and spins will forget, will they?[2], and the past was rotten ...[1], and, but, but, but ... we will forget the past ...[2], and, but, but, BUT(!) ... all these moments are in the past ... ???[1], and the past was rotten ...[2], and I see them going ... bye![1], and, but, but, BUT(!) ... all these moments are in the past ... ???[2], and, no, no, no ... these moments are in the future!!![1], and I see them going ... bye![2], and ... 'Eh?! I'm so confused!'[1], and, no, no, no ... these moments are in the future!!![2], and ... YES - !!![1], and ... 'Eh?! I'm so confused!'[2], and, yes, the future is real - to me[1], and ... YES - !!![2], and one day ... I ... you ... we will spin here again ... and it will be the future, man![1], and, yes, the future is real - to me[2], and ... 'I, I ... I think I understand, yes ...'[1], and one day ... I ... you ... we will spin here again ... and it will be the future, man![2], and we will be so ooo happy![1], and ... 'I, I ... I think I understand, yes ...'[2], and ... 'YIPPEE - !!!'[1], and we will be so ooo hap py![2], and, but ... let's not get ahead of ourselves, all right?[1], and ... 'YIPP EE - !!!'[2], and ... 'Oh'[1], and, but ... let's not get ahead of ourselves, all right?[2], and, a-ROUND again? ... Come on![1], and ... 'Oh'[2], and, well ...[3], and, a-ROUND again? ... Come on![2], and hello, hello[3], and where are we now??? ... answers on a postcard ... but I have no Jammie Dodgers for you[3], and ... 'What?!'[3], and I'm on a diet[3], and just look at us!!![3], and I truly believe that this ... is our moment ... or maybe ... this ... is our moment ... ... ... ???[3], and, I ...[3], and the truth is ...[3], and, er, er, er ... ... ...[3], and,,, What is the truth?[3], and ... 'Er ...'[3], and the truth is ... come on, kooks! ... our moments are total bastards ... always passing away[3], and sadly, very sadly[3], and,,, What can we do about the situation?[3], and  ... 'We can store them here, Mikey!'[3], and, oh ... we can try, Voice[3], and I'm up for it![3], and a-ROUND, and a-ROUND, and a-ROUND ... / ... and, yes ... we can try our best to hold on to them[3], and one moment ...[3], and staring at the sea ... that's fine[3], and ... 'I love the sea!'[3], and a-ROUND, and a-ROUND, and a-ROUND ... / ... and, yes ... we can try our best to hold on to ALL OF THEM[3], and ... 'Well, the ones we like'[3], and ... here - !!![3], and another moment ...[3], and staring at the moon ... that's fine[3], and ... 'I love the moon!'[3], and we won't forget, will we? ... and, uh ... no one who reads and spins will forget, will they?[3], and, but, but, but ... we will forget the past ...[3], and the past was rotten ...[3], and, but, but, BUT(!) ... all these moments are in the past ... ???[3], and I see them going ... bye![3], and, no, no, no ... these moments are in the future!!![3], and ... 'Eh?! I'm so confused!'[3], and ... YES - !!![3], and, yes, the future is real - to me[3], and one day ... I ... you ... we will spin here again ... and it will be the future, man![3], and ... 'I, I ... I think I understand, yes ...'[3], and we will be so ooo h  a  p  p  y![3], and ... 'Y  I  P  P  E  E - !!!'[3], and, but ... let's not get ahead of ourselves, all right?[3], and ... 'Oh'[3], and, a-ROUND again? ... Come on![3], and

And, well ...[1], and hello, hello[1], and, well ...[2], and where are we now??? ... answers on a postcard ... but I have no Jammie Dodgers for you[1], and hello, hello[2], and ... 'What?!'[1], and where are we now??? ... answers on a postcard ... but I have no Jammie Dodgers for you[2], and I'm on a diet[1], and ... 'What?!'[2], and just look at us!!![1], and I'm on a diet[2], and I truly believe that this ... is our moment ... or maybe ... this ... is our moment ... ... ... ???[1], and just look at us!!![2], and, I ...[1], and I truly believe that this ... is our moment ... or maybe ... this ... is our moment ... ... ... ???[2], and the truth is ...[1], and, I ...[2], and, er, er, er ... ... ...[1], and the truth is ...[2], and,,, What is the truth?[1], and, er, er, er ... ... ...[2], and ... 'Er ...'[1], and,,, What is the truth?[2], and the truth is ... come on, kooks! ... our moments are total bastards ... always passing away[1], and ... 'Er ...'[2], and sadly, very sadly[1], and the truth is ... come on, kooks! ... our moments are total bastards ... always passing away[2], and,,, What can we do about the situation?[1], and sadly, very sadly[2], and  ... 'We can store them here, Mikey!'[1], and,,, What can we do about the situation?[2], and, oh ... we can try, Voice[1], and  ... 'We can store them here, Mikey!'[2], and I'm up for it![1], and, oh ... we can try, Voice[2], and a-ROUND, and a-ROUND, and a-ROUND ... / ... and, yes ... we can try our best to hold on to them[1], and I'm up for it![2], and one moment ...[1], and a-ROUND, and a-ROUND, and a-ROUND ... / ... and, yes ... we can try our best to hold on to them[2], and staring at the sea ... that's fine[1], and one moment ...[2], and ... 'I love the sea!'[1], and staring at the sea ... that's fine[2], and a-ROUND, and a-ROUND, and a-ROUND ... / ... and, yes ... we can try our best to hold on to ALL OF THEM[1], and ... 'I love the sea!'[2], and ... 'Well, the ones we like'[1], and a-ROUND, and a-ROUND, and a-ROUND ... / ... and, yes ... we can try our best to hold on to ALL OF THEM[2], and ... here - !!![1], and ... 'Well, the ones we like'[2], and another moment ...[1], and ... here - !!![2], and staring at the moon ... that's fine[1], and another moment ...[2], and ... 'I love the moon!'[1], and staring at the moon ... that's fine[2], and we won't forget, will we? ... and, uh ... no one who reads and spins will forget, will they?[1], and ... 'I love the moon!'[2], and, but, but, but ... we will forget the past ...[1], and we won't forget, will we? ... and, uh ... no one who reads and spins will forget, will they?[2], and the past was rotten ...[1], and, but, but, but ... we will forget the past ...[2], and, but, but, BUT(!) ... all these moments are in the past ... ???[1], and the past was rotten ...[2], and I see them going ... bye![1], and, but, but, BUT(!) ... all these moments are in the past ... ???[2], and, no, no, no ... these moments are in the future!!![1], and I see them going ... bye![2], and ... 'Eh?! I'm so confused!'[1], and, no, no, no ... these moments are in the future!!![2], and ... YES - !!![1], and ... 'Eh?! I'm so confused!'[2], and, yes, the future is real - to me[1], and ... YES - !!![2], and one day ... I ... you ... we will spin here again ... and it will be the future, man![1], and, yes, the future is real - to me[2], and ... 'I, I ... I think I understand, yes ...'[1], and one day ... I ... you ... we will spin here again ... and it will be the future, man![2], and we will be so ooo happy![1], and ... 'I, I ... I think I understand, yes ...'[2], and ... 'YIPPEE - !!!'[1], and we will be so ooo hap py![2], and, but ... let's not get ahead of ourselves, all right?[1], and ... 'YIPP EE - !!!'[2], and ... 'Oh'[1], and, but ... let's not get ahead of ourselves, all right?[2], and, a-ROUND again? ... Come on![1], and ... 'Oh'[2], and, well ...[3], and, a-ROUND again? ... Come on![2], and hello, hello[3], and where are we now??? ... answers on a postcard ... but I have no Jammie Dodgers for you[3], and ... 'What?!'[3], and I'm on a diet[3], and just look at us!!![3], and I truly believe that this ... is our moment ... or maybe ... this ... is our moment ... ... ... ???[3], and, I ...[3], and the truth is ...[3], and, er, er, er ... ... ...[3], and,,, What is the truth?[3], and ... 'Er ...'[3], and the truth is ... come on, kooks! ... our moments are total bastards ... always passing away[3], and sadly, very sadly[3], and,,, What can we do about the situation?[3], and  ... 'We can store them here, Mikey!'[3], and, oh ... we can try, Voice[3], and I'm up for it![3], and a-ROUND, and a-ROUND, and a-ROUND ... / ... and, yes ... we can try our best to hold on to them[3], and one moment ...[3], and staring at the sea ... that's fine[3], and ... 'I love the sea!'[3], and a-ROUND, and a-ROUND, and a-ROUND ... / ... and, yes ... we can try our best to hold on to ALL OF THEM[3], and ... 'Well, the ones we like'[3], and ... here - !!![3], and another moment ...[3], and staring at the moon ... that's fine[3], and ... 'I love the moon!'[3], and we won't forget, will we? ... and, uh ... no one who reads and spins will forget, will they?[3], and, but, but, but ... we will forget the past ...[3], and the past was rotten ...[3], and, but, but, BUT(!) ... all these moments are in the past ... ???[3], and I see them going ... bye![3], and, no, no, no ... these moments are in the future!!![3], and ... 'Eh?! I'm so confused!'[3], and ... YES - !!![3], and, yes, the future is real - to me[3], and one day ... I ... you ... we will spin here again ... and it will be the future, man![3], and ... 'I, I ... I think I understand, yes ...'[3], and we will be so ooo h  a  p  p  y![3], and ... 'Y  I  P  P  E  E - !!!'[3], and, but ... let's not get ahead of ourselves, all right?[3], and ... 'Oh'[3], and, a-ROUND again? ... Come on![3], and

And, well ...[1], and hello, hello[1], and, well ...[2], and where are we now??? ... answers on a postcard ... but I have no Jammie Dodgers for you[1], and hello, hello[2], and ... 'What?!'[1], and where are we now??? ... answers on a postcard ... but I have no Jammie Dodgers for you[2], and I'm on a diet[1], and ... 'What?!'[2], and just look at us!!![1], and I'm on a diet[2], and I truly believe that this ... is our moment ... or maybe ... this ... is our moment ... ... ... ???[1], and just look at us!!![2], and, I ...[1], and I truly believe that this ... is our moment ... or maybe ... this ... is our moment ... ... ... ???[2], and the truth is ...[1], and, I ...[2], and, er, er, er ... ... ...[1], and the truth is ...[2], and,,, What is the truth?[1], and, er, er, er ... ... ...[2], and ... 'Er ...'[1], and,,, What is the truth?[2], and the truth is ... come on, kooks! ... our moments are total bastards ... always passing away[1], and ... 'Er ...'[2], and sadly, very sadly[1], and the truth is ... come on, kooks! ... our moments are total bastards ... always passing away[2], and,,, What can we do about the situation?[1], and sadly, very sadly[2], and  ... 'We can store them here, Mikey!'[1], and,,, What can we do about the situation?[2], and, oh ... we can try, Voice[1], and  ... 'We can store them here, Mikey!'[2], and I'm up for it![1], and, oh ... we can try, Voice[2], and a-ROUND, and a-ROUND, and a-ROUND ... / ... and, yes ... we can try our best to hold on to them[1], and I'm up for it![2], and one moment ...[1], and a-ROUND, and a-ROUND, and a-ROUND ... / ... and, yes ... we can try our best to hold on to them[2], and staring at the sea ... that's fine[1], and one moment ...[2], and ... 'I love the sea!'[1], and staring at the sea ... that's fine[2], and a-ROUND, and a-ROUND, and a-ROUND ... / ... and, yes ... we can try our best to hold on to ALL OF THEM[1], and ... 'I love the sea!'[2], and ... 'Well, the ones we like'[1], and a-ROUND, and a-ROUND, and a-ROUND ... / ... and, yes ... we can try our best to hold on to ALL OF THEM[2], and ... here - !!![1], and ... 'Well, the ones we like'[2], and another moment ...[1], and ... here - !!![2], and staring at the moon ... that's fine[1], and another moment ...[2], and ... 'I love the moon!'[1], and staring at the moon ... that's fine[2], and we won't forget, will we? ... and, uh ... no one who reads and spins will forget, will they?[1], and ... 'I love the moon!'[2], and, but, but, but ... we will forget the past ...[1], and we won't forget, will we? ... and, uh ... no one who reads and spins will forget, will they?[2], and the past was rotten ...[1], and, but, but, but ... we will forget the past ...[2], and, but, but, BUT(!) ... all these moments are in the past ... ???[1], and the past was rotten ...[2], and I see them going ... bye![1], and, but, but, BUT(!) ... all these moments are in the past ... ???[2], and, no, no, no ... these moments are in the future!!![1], and I see them going ... bye![2], and ... 'Eh?! I'm so confused!'[1], and, no, no, no ... these moments are in the future!!![2], and ... YES - !!![1], and ... 'Eh?! I'm so confused!'[2], and, yes, the future is real - to me[1], and ... YES - !!![2], and one day ... I ... you ... we will spin here again ... and it will be the future, man![1], and, yes, the future is real - to me[2], and ... 'I, I ... I think I understand, yes ...'[1], and one day ... I ... you ... we will spin here again ... and it will be the future, man![2], and we will be so ooo happy![1], and ... 'I, I ... I think I understand, yes ...'[2], and ... 'YIPPEE - !!!'[1], and we will be so ooo hap py![2], and, but ... let's not get ahead of ourselves, all right?[1], and ... 'YIPP EE - !!!'[2], and ... 'Oh'[1], and, but ... let's not get ahead of ourselves, all right?[2], and, a-ROUND again? ... Come on![1], and ... 'Oh'[2], and, well ...[3], and, a-ROUND again? ... Come on![2], and hello, hello[3], and where are we now??? ... answers on a postcard ... but I have no Jammie Dodgers for you[3], and ... 'What?!'[3], and I'm on a diet[3], and just look at us!!![3], and I truly believe that this ... is our moment ... or maybe ... this ... is our moment ... ... ... ???[3], and, I ...[3], and the truth is ...[3], and, er, er, er ... ... ...[3], and,,, What is the truth?[3], and ... 'Er ...'[3], and the truth is ... come on, kooks! ... our moments are total bastards ... always passing away[3], and sadly, very sadly[3], and,,, What can we do about the situation?[3], and  ... 'We can store them here, Mikey!'[3], and, oh ... we can try, Voice[3], and I'm up for it![3], and a-ROUND, and a-ROUND, and a-ROUND ... / ... and, yes ... we can try our best to hold on to them[3], and one moment ...[3], and staring at the sea ... that's fine[3], and ... 'I love the sea!'[3], and a-ROUND, and a-ROUND, and a-ROUND ... / ... and, yes ... we can try our best to hold on to ALL OF THEM[3], and ... 'Well, the ones we like'[3], and ... here - !!![3], and another moment ...[3], and staring at the moon ... that's fine[3], and ... 'I love the moon!'[3], and we won't forget, will we? ... and, uh ... no one who reads and spins will forget, will they?[3], and, but, but, but ... we will forget the past ...[3], and the past was rotten ...[3], and, but, but, BUT(!) ... all these moments are in the past ... ???[3], and I see them going ... bye![3], and, no, no, no ... these moments are in the future!!![3], and ... 'Eh?! I'm so confused!'[3], and ... YES - !!![3], and, yes, the future is real - to me[3], and one day ... I ... you ... we will spin here again ... and it will be the future, man![3], and ... 'I, I ... I think I understand, yes ...'[3], and we will be so ooo h  a  p  p  y![3], and ... 'Y  I  P  P  E  E - !!!'[3], and, but ... let's not get ahead of ourselves, all right?[3], and ... 'Oh'[3], and, a-ROUND again? ... Come on![3], and

Refinitiv Lipper: European ESG fund market report: Q1-Q3 2022

Oh, not this ESG stuff again! Never mind.

'But it's from Detlef and the gang, boss!'

I know, Voice, I know. That's why we're covering it. But if it was from anyone else ... do you know what I mean?

'Yeah.'

Anyway ...

The assets under management in the European fund industry declined over the course of the year 2022 from €15.3 tr at the end of December 2021 to €13.0 tr at the end of September 2022.

49.30% of the overall assets under management were held by ESG-related funds.

The majority of ESG-related assets were held by mutual funds and ETFs which are aligned to article 8 (€5.0 tr).

ESG-related money market funds (-€93.1 bn) faced outflows while ESG-related long-term products enjoyed shy overall inflows of €0.3 bn over of the first nine months of 2022.

Mixed-assets (+€26.8 bn) were the best-selling asset type for ESG-related products overall over the course of the first nine months of 2022.

ESG-related mutual funds and ETFs which are not classified by SFDR enjoyed the highest inflows (+€52.2 bn) for the first nine months of 2022.

European investors preferred passive ESG-related products over actively managed mutual funds over the course of the first nine months of 2022.

Fine. Whatever. I mean ... do you know what I mean???

Anyway ...

'Where's Detlef?!'

Christ! Be patient. Here he is!!! -

Detlef Glow, Head of EMEA Research at Refinitiv Lipper, comments: "It was not surprising that the year 2022 so far has been in general a negative period for the European fund industry given the geopolitical situation in Europe, the still ongoing The Thing, disrupted delivery chains, rising inflation, increasing interest rates, and the resulting sluggish market environment. Within this market environment and given the economic uncertainties, one would expect that European investors sold long-term funds and bought money market products. Therefore, it is somewhat surprising that European investors sold money market products, which are normally considered safe-haven investments."

Nice one, son! Keep up the good work! 'Don't let the bastards get you down, Detlef!' What bastards, Voice?! 'I don't know. It's just something you say in these situations, isn't it?' Well, not really. There aren't any bastards getting Detlef down. 'I suppose not.' And in the old days I would have said that he was, you know ... flying high in the friendly astral sky. 'Yes!' But - as you know - those days are over.

Anyway ...

ENDS

...

Anything else?

It's hard to say.

I mean ... do I just imagine that there is something else ... most of the time?

I really don't know.

So ...

'Imagine something now, Mikey.'

No. I don't want to.

'Oh.'

So ...

'Laters?'

Not yet! What's the rush, Voice?

'There is no rush.'

Exactly. There's no rush. We can take our time.

Lat ...

'You nearly said it!

Oh, nearly.

'When will you say it, boss?'

Soon.

When I'm ready.

When I'm in the mood for it.

'You want to build up to it.'

Yes.

Okay, okay.

Laters!

Refinitiv Lipper: European fund market trends - Q3 2022

Right! A nice little post at the end of the week for all the finance freaks amongst us. Let's do this!

'Yippee!'

All right. Calm down, Voice.

Anyway ...

Assets under management in the European fund industry decreased from €15.3 tr (as of December 31, 2021) to €13.0 tr at the end of Q3 2022.

The European fund industry faced estimated overall net outflows (-€323.6bn) over the first nine months of 2022.

Mixed-assets products (+€24.8 bn) posted the highest estimated net inflows in the European fund industry for 2022 so far.

ESG-related products which are not classified by SFDR (+€190.3 bn) enjoyed the highest inflows within this category.

The best-selling Lipper global classification for the first nine months of the year was Equity Global (+€33.9 bn), followed by Bond USD Government (+€21.3 bn) and Equity Global Income (+€16.1 bn).

BlackRock (+€14.0 bn) was the best-selling fund promoter in Europe for the year 2022 so far, ahead of HSBC (+€13.9 bn) and Vanguard (+€10.5 bn).

Switzerland was the fund domicile with the highest inflows (+€39.3 bn) year to date.

The number of primary funds registered for sales in Europe increased by 356 products over the course of the year.

Well, that's all right, ain't it? If only we could make some sense out of it.

'We don't have to make sense out of it, boss. We've got Detlef for that.'

What?! Is he here, with us now?!

'Can't you feel him, boss?'

Oh, well. I don't know. I mean -

'Here he is!!! -'

Detlef Glow, Head of EMEA Research at Refinitiv Lipper, comments: "Given the current economic situation around the globe it was no surprise that the European fund industry faced declining assets under management over the course of the year 2022 so far, as the geopolitical situation in Europe, the still ongoing The Thing, disrupted delivery chains, increasing inflation, and interest rate hikes put some pressure on the securities markets.

"Within this environment, the assets under management in the European fund industry decreased from €15.3 tr (as of December 31, 2021) to €13.3 tr at the end of Q3 2022. While ETFs held €1.2 tr, or 9.23% of the assets under management in Europe, the vast majority (€11.8 tr, or 90.77%), were held by mutual funds."

Declining assets under management. Not really all right. Never mind. Thanks, anyway, Detlef!

ENDS

ENDS

ENDS

...

Anything else?

Christ!

Why must there always be something else with you?

No. There's nothing else.

My house is like Hell Week when it rains heavy. Just -

'Boss.'

What?

'Talk about music.'

I talked about music last night.

'Oh yeah.'

Yeah.

Er -

Mighty Soul

Shady, Dodgy, Shifty

The Future

Life and Death

Nothing

This World Don't Mean a Thing

Lovers On The Make

Stella

Malibu

What's This Life We Live?

Just a reminder, like. I don't want anyone forgetting.

Laters!

Oh, I'm taking next week off. So, double laters!

I've been reading more depressing articles about the music business ...

So -

'I thought you watched depressing videos about the music business, boss?'

Well ... yes, Voice, I watch depressing videos about the music business on YouTube, BUT(!) ... I read depressing articles about the music business on the Guardian website.

'Oh, I get you. Thanks for clearing that up.'

Yeah. Anyway ...

Oh! I've got a PR email from Detlef and the gang. I'll do it tomorrow. For those of you who like finance, like. Freaks!

Oh, by the way, I've made a couple of small changes to that U2 BIG TEN ...

One

Beautiful Day

Who's Gonna Ride Your Wild Horses

The Unforgettable Fire

New Year's Day

Pride (In The Name Of Love)

With Or Without You

Where The Streets Have No Name

I Still Haven't Found What I'm Looking For

Desire

That's better!

Not as good as my BIG TEN though, ha!

So ...

Well ...

Never mind.

Laters.