Founder-CEO & Chief Analyst, Real Estate Foresight

Robert Ciemniak

Founder-CEO & Chief Analyst

Real Estate Foresight

Since 2012, REF has been helping investors with market research, project due diligence, and strategy development. This has ranged from detailed assessments and estimates on distressed developers' project portfolios to market due diligence on specific projects to macro-level questions linked to demand for commodities. The unique combination of the housing markets and developer data from data partner China Index Academy in Beijing, primary research, and technology-powered alternative data collection from public sources result in a valuable content set used in REF analytics and reports.

Predictive Analytics for China Property

Thematic (Sector/Industry)

We have updated our currency impact tables 'post-Brexit' for USD, EUR, JPY, AUD, GBP and CNY. We make a simple assumption that a property investor uses his/her domestic 'investor' currency to buy assets in 'investment' currency at a spot rate on a given start date and then repatriates that back into investor currency on a given end date. Change in the value at end date vs start date in investor currency represents the approximate currency impact, not adjusted for any transaction or other costs…

We have updated our currency impact tables 'post-Brexit' for USD, EUR, JPY, AUD, GBP and CNY. We make a simple assumption that a property investor uses his/her domestic 'investor' currency to buy assets in 'investment' currency at a spot rate on a given start date and then repatriates that back into investor currency on a given end date. Change in the value at end date vs start date in investor currency represents the approximate currency impact, not adjusted for any transaction or other costs…

90 Days After Brexit - Currency Impact Tables For International Property Investors

Public Relations and Social Media Manager, Dechert LLP

Peggy Heffner

Public Relations and Social Media Manager

Dechert is a global specialist law firm

Dechert LLP

Dechert is a global specialist law firm.
Focused on sectors with the greatest complexities, legal intricacies and highest regulatory demands, we excel in delivering practical commercial judgment and deep legal expertise for high-stakes matters.

Our work is widely recognized. We have 20 standout practices noted by Chambers Global, including global-wide rankings for arbitration, corporate investigations, anti-corruption, investment funds and life sciences. Named Antitrust Team of the Year, Chambers USA commends our “accomplished group” as “routinely sought after to handle some of the most significant litigation and transactions in the antitrust world.” 

In an increasingly challenging environment, clients look to us to serve them in ways that are faster, sharper and leaner without compromising excellence. We developed a first-of-its kind legal project management department, which uses technology, people and processes to drive efficiency and deliver value for our clients.

We are innovators. Dechert ranked #7 in the Financial Times’ Top North American Innovative Law Firms. Financial Times also recognizes us among the Top European Innovative Law Firms and highly commends World Compass, our marketing compliance service, which offers investment firms advice in more than 100 jurisdictions.

Event-Driven

Fast Facts<ul><li>Significant merger investigations lasted 9.5 months on average over the 12 months ending Q1 2016, about 20% longer than observed over the prior 12 months.</li><li>There were 33 significant merger investigations during the 12-month period ending Q1 2016, compared to 32 during the prior 12-month period.</li><li>Increased use of upfront buyers may be partially responsible for the increase in duration. In 2015, consents requiring upfront buyers took 2.1 months longer than consents requiring post-order buyers.</li></ul>

Fast FactsSignificant merger investigations lasted 9.5 months on average over the 12 months ending Q1 2016, about 20% longer than observed over the prior 12 months.There were 33 significant merger investigations during the 12-month period ending Q1 2016, compared to 32 during the prior 12-month period.Increased use of upfront buyers may be partially responsible for the increase in duration. In 2015, consents requiring upfront buyers took 2.1 months longer than consents requiring post-order buyers.

Is Use of Upfront Buyers Causing Longer Merger Investigations? Q1 2016 Update Confirms 2015 Trends

Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

Download the Morningstar Fact Sheet : http://corporate.morningstar.com/US/documents/MarketingFactSheets/AboutMorningstarFactsheet.pdf

<ul><li class="p1">We recommend Recall shareholders vote in favour of the acquisition, by Iron Mountain, at the Scheme of Arrangement meeting on 19 April 2016.</li><li class="p1">If the Scheme is approved, Recall shares will cease trading on 21 April 2016 with payments made on 2 May 2016.</li><li class="p1">The acquisition has been approved, subject to undertakings, by the Australian Competition and Consumer Commission, the Canada Competition Board, the United States Department of Justice, and the Competition and Markets Authority in the United Kingdom.</li><li class="p1">We expect the remaining regulatory approval from the Australian Foreign Investment Review Board to be received by 15 April 2016</li></ul>Analyst: Gareth James

We recommend Recall shareholders vote in favour of the acquisition, by Iron Mountain, at the Scheme of Arrangement meeting on 19 April 2016.If the Scheme is approved, Recall shares will cease trading on 21 April 2016 with payments made on 2 May 2016.The acquisition has been approved, subject to undertakings, by the Australian Competition and Consumer Commission, the Canada Competition Board, the United States Department of Justice, and the Competition and Markets Authority in the United Kingdom.We expect the remaining regulatory approval from the Australian Foreign Investment Review Board to be received by 15 April 2016Analyst: Gareth James

Recall Receives Regulatory Approvals. We Recommend Shareholders Accept Iron Mountain's Offer.

We see the digitisation of information as a major long-term headwind for Recall.Given that Recall operates in 20 currencies, all of which depreciated against the USD, it is not surprising that the result was negatively affected by foreign exchange.Our discounted cash flow-based fair value estimate of AUD 5.50 per share remains unchanged.Analyst: Gareth James

We see the digitisation of information as a major long-term headwind for Recall.Given that Recall operates in 20 currencies, all of which depreciated against the USD, it is not surprising that the result was negatively affected by foreign exchange.Our discounted cash flow-based fair value estimate of AUD 5.50 per share remains unchanged.Analyst: Gareth James

Recall Reports Solid First Half, but Foreign Exchange Weighs; Fair Value Estimate Unchanged

Special Situations, Content Strategist, Smartkarma

Crispin Francis

Special Situations, Content Strategist

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<h2>Latest Statement from the UK Competition and Markets Authority (CMA)</h2>The <a href="https://assets.digital.cabinet-office.gov.uk/media/56b1d43f40f0b613d100000a/Issues_statement.pdf" target="_blank">issues statement</a> (linked to official document) has been released by the UK Competition and Markets Authority, with closing date for submissions 17th February.<div class="content-highlight">In this insight, we list out the key concerns raised by the CMA and examine the seriousness of the concerns. Without further ado... </div><h2>Definitions</h2>The Records and Information Management Services (RIMS) which the Parties supply comprise:(a) Records management services (RMS)…

Latest Statement from the UK Competition and Markets Authority (CMA)The issues statement (linked to official document) has been released by the UK Competition and Markets Authority, with closing date for submissions 17th February.In this insight, we list out the key concerns raised by the CMA and examine the seriousness of the concerns. Without further ado... DefinitionsThe Records and Information Management Services (RIMS) which the Parties supply comprise:(a) Records management services (RMS)…

Recall / Iron Mountain - It Is Starting to Hurt

United States

Iron Mountain Incorporated is a storage and information management company. The Company provides records management, data management solutions, and information destruction services.

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Iron Mountain (IRM US)

90 Days After Brexit - Currency Impact Tables For International Property Investors

We have updated our currency impact tables 'post-Brexit' for USD, EUR, JPY, AUD, GBP and CNY. We make a simple assumption that a property investor...

Robert Ciemniak

Is Use of Upfront Buyers Causing Longer Merger Investigations? Q1 2016 Update Confirms 2015 Trends

Fast Facts Significant merger investigations lasted 9.5 months on average over the 12 months ending Q1 2016, about 20% longer than observed over...

Dechert LLP

Recall Reports Solid First Half, but Foreign Exchange Weighs; Fair Value Estimate Unchanged

We see the digitisation of information as a major long-term headwind for Recall.Given that Recall operates in 20 currencies, all of...

Morningstar, Inc.

Recall / Iron Mountain - It Is Starting to Hurt

Latest Statement from the UK Competition and Markets Authority (CMA)The issues statement (linked to official document) has been released by the UK...

Crispin Francis

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90 Days After Brexit - Currency Impact Tables For International Property Investors

We have updated our currency impact tables 'post-Brexit' for USD, EUR, JPY, AUD, GBP and CNY. We make a simple assumption that a property investor...

Robert Ciemniak

Is Use of Upfront Buyers Causing Longer Merger Investigations? Q1 2016 Update Confirms 2015 Trends

Fast Facts Significant merger investigations lasted 9.5 months on average over the 12 months ending Q1 2016, about 20% longer than observed over...

Dechert LLP

Recall Receives Regulatory Approvals. We Recommend Shareholders Accept Iron Mountain's Offer.

We recommend Recall shareholders vote in favour of the acquisition, by Iron Mountain, at the Scheme of Arrangement meeting on 19 April 2016. If...

Morningstar, Inc.

Recall Reports Solid First Half, but Foreign Exchange Weighs; Fair Value Estimate Unchanged

We see the digitisation of information as a major long-term headwind for Recall.Given that Recall operates in 20 currencies, all of...

Morningstar, Inc.

Recall / Iron Mountain - It Is Starting to Hurt

Latest Statement from the UK Competition and Markets Authority (CMA)The issues statement (linked to official document) has been released by the UK...

Crispin Francis