Velcan Holdings is actively managing its treasury of about Eur 100 million.
We have invested over the years in an extremely diversified array of financial assets including mostly : corporate and government bonds in local and reserve currencies, equities, derivatives, direct lending and private equity investments.
In 2017, main investments have been in corporate bonds again.
The corporate bonds exposure was approx. EUR 50 m at 2017 year end, mostly in USD bonds from BBB and BB issuers coming both from developed markets and emerging markets such as: JBS (Brazil), CMA CGM (France), Comcel trust (Guatemala), Olam (Singapore), NORDDEUTSCHE LANDESBANK GIROZENTRALE (Germany), Zurich Insurance (Switzerland), Bluescope Steel (Australia), Israel Electric Corp (Israel), NIPPON LIFE INSURANCE CO (Japan) and the Republic of Argentina.
As of December 2017, we also owned :
- private investments worth EUR 6.8m (half of it in the shipping sector),
- investments worth EUR 6.3 m in listed equities and equity/hedge funds,
- cash or cash equivalents (EUR 37.5m).