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Based out of Firminy, France, Firminy Capital Sarl is a securitization firm that was founded and registered in order to manage the Firminy Equity Fund and other Luxembourg Securitization Funds according to the needs of the shareholders. In monitoring current market conditions, Firminy Capital Sarl works with successful financial institutions to adopt the best private placement to ensure the satisfaction of the fund’s clients. Under the law of March 22, 2004, a legal framework allows for the creation of Securitization Vehicles (SVs). SVs allow contractual debt obligations to be pooled and sold as bonds and other forms of debt obligations to investors. By virtue of the Securitization Law, individuals and companies are allowed to place a certain amount of their assets with the Firminy Equity Fund, where it will be managed by Firminy Capital Sarl. In doing so, individuals and businesses are able to negate some of the risk inherent to holding and managing these assets. Firminy Capital Sarl is dedicated to providing quality service to all clients. The company is willing to expend whatever resources are necessary to ensure that all securitizations managed by the firm are profitable and safe. Its employees, managers, contractors, and professional associates have been specially trained in one or more of the areas of securitization, banking, and structured finance. To stay at the forefront of the securitization field, Firminy Capital Sarl has contracted one of the top 500 law firms specializing in finance and securitization to provide advice on current and pending transactions. The success of this initiative was so striking that the company has committed to seek support from this firm on all future transactions, and is working with custodial banks to ensure the peace of mind of investors in the midst of volatile market conditions.

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Price of Fermion Equity Fund Units for Subscribers

An alternative fund management firm in Luxembourg, Fermion Capital Sarl oversees the Fermion Equity Fund. A securitization fund, Fermion Capital assumes or acquires risks tied to third parties’ sub-fund assets, debt, and other liabilities. Investors take part in the fund through the registration of sub-fund units that represent their rights as settlors. The management company obtains subscription requests in advance and investors agree to pay the subscribed amount. The fund’s management calculates each participating unit holder’s number of units by dividing the amount paid by the sub-fund’s net asset value. This is calculated on the month’s last business day after the receipt of payment by the management company. Alternatively, units may be distributed at an initial issue price determined by the managing entity. When investors decide to invest in the sub-fund, they also may be responsible for paying a subscription fee as detailed in the regulations specific to each sub-fund.

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Comparing Asset and Mortgage Backed Securities

Founded in 2007, Firminy Capital Sarl is a securitization fund management firm based in Luxembourg. Securitization firms like Firminy Capital Sarl often facilitate the creation of asset backed securities (ABS) and mortgage backed securities (MBS), two common asset classes in the securitization process. The term asset backed security refers to a bond or note comprised of financial assets other than mortgages or real estate. An ABS is usually backed by assets like equipment leases, credit card debt, or auto loans. Bonds or notes backed solely by a single mortgage or a pool of mortgages are mortgage backed securities. Because of the different types of collateral that back the involved bonds and notes, ABS is usually more difficult to forecast in regard to cash flow, and the terms typically end more quickly. Sellers use both asset classes to reduce risk and remove capital from their balance sheets. This allows their companies to earn greater funding. Investors buy MBS and ABS to increase yields and diversify portfolios.

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Overview of the “Securitization Act”

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Originally referred to as the Luxembourg Securitization Act of 2004, the “Securitization Act” is a law that allows firms such as Firminy Capital Sarl to create securitization vehicles (SVs) in Luxembourg. The firm uses SVs to pool contractual debt obligations for investors to purchase. With a team of well-trained, specialized finance and legal experts, Firminy Capital Sarl offers expertise to its investors in securitization and other financial and banking needs. The Securitization Act promotes flexibility and is an attractive overall framework for investors to consider and utilize to their benefit. Securitization is a process that turns assets or future cash flows into powerful securities. Essentially, this takes assets that are undesirable on a balance sheet and puts them into a better (more marketable) light. Additional components of the Securitization Act include the incorporation and registration of SPVs (Special Purpose Vehicles) and the ability for lenders to enforce security interest in the event of default from a borrower.

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Three Securitization Terms to Know

Located in Luxembourg City, Firminy Capital Sarl provides clients with securitization fund management services. In order to understand the services that a firm like Firminy Capital Sarl provides, it is important to learn the meaning of common terms related to securitization funds. Asset Backed Security: Although the term securitization refers to the process through which an illiquid asset becomes liquid, an asset backed security (ABS) is a security funded by assets other than mortgages. These assets may include items such as loans, credit card debt, or aircraft leases. Special Purpose Vehicle: A special purpose vehicle (SPV) is the entity that assumes a company’s debt in order to lower financial risk during the securitization process. Transferring debt to another entity allows corporations to make large financial investments while protecting the company from the threat of bankruptcy. Collateral: Collateral is a word used to describe assets put up by borrowers to protect lenders against financial losses. During securitization, collateral exists in the form of the pooled assets that back up securities.

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Three Tips for Adhering to Business Etiquette Standards in Luxembourg

Firminy Capital Sarl is an equity investment firm holding securitization and structured finance funds. Though members of the team at Firminy Capital Sarl hail from South Africa, the firm operates its business out of Luxembourg, where specific business etiquette should be followed. 1. Professional dress. Businessmen and women in Luxembourg consider professional dress to be an important part of business culture. Men typically dress in stylish suits or jackets and may occasionally wear by hats. For women, suits are acceptable, but conservative dresses made out of wool are more common. Additionally, residents of Luxembourg place a high value on fashion, so business associates should dress in more modern styles so as not to seem outdated. 2. Punctuality. Any individual doing business in Luxembourg should place importance on a timely arrival to business events. Showing up late to a meeting is considered extremely disrespectful. Additionally, any face-to-face meeting should be arranged via telephone at least one week in advance. 3. Ethical behavior. Luxembourg is ranked among the least corrupt countries in the world in which to do business, and professionals across all industries maintain a strong code of ethics. Bribery and corruption in business deals are not tolerated, and those who participate in criminal acts within the professional sector are strictly punished by the government.

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Benefits of Doing Business in Luxembourg

Firminy Capital Sarl is a securitization fund company founded in 2007. Led by a team of finance industry professionals, Firminy Capital Sarl operates out of Luxembourg, a country that is known for being a successful center of business commerce. Doing business in Luxembourg comes with a set of distinct advantages. First, its geographic location in Western Europe has made it a diversified and globalized country that allows professionals of different nationalities to network with ease. The country is also known for a culture of multilingualism, with inhabitants often speaking languages such as French, German, and English. Luxembourg is also known for its advantageous taxation structure and low tolerance for corruption and criminal activity. The low effective tax rate and the reliability of tax laws within the country provide all professional organizations a straightforward guide to calculating and paying taxes. Finally, thanks in part to its beneficial tax laws, Luxembourg also enjoys a higher standard of living than many countries, and professionals across all industries reap the benefits. Business owners who brings their companies to Luxembourg will live within a country whose residents have significantly higher disposable income than the calculated average. Additionally, up to 78 percent of adults over the age of 24 in Luxembourg have a college degree.

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The Use and Benefits of Medium-Term Notes

Founded in 2007, Firminy Capital Sarl offers investors risk-valued securities products through its private securitization fund, the Firminy Equity Fund. Firminy Capital Sarl also manages a number of sub-funds, such as Global Smart City Series 1, which gives investors access to medium-term notes (MTNs). MTNs are defined as debt tools that a company continuously offers to investors via an agent or dealer. Although most MTNS are designed to mature in two and five years, it’s becoming more common for MTNs to be issued at the long end of the maturity curve at 10 to 30 years. MTNs are made available in the same form as other sorts of financial institution, corporate, or government obligations, but delivered via a different mechanism. Instead of being offered on a firm commitment basis, MTNs are made available by agents on a best efforts basis. MTNs provide investors with a number of benefits, including greater flexibility, liquidity, and diversification. With countless types of notes available for purchase, the growing MTN market allows investors to cover portfolio gaps that could go unfilled with traditional bonds.                            

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Private Equity Funds and Firms

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Firminy Capital Sarl operates from Luxembourg. Firminy Capital Sarl manages the Firminy Equity Fund, a securitization fund into which clients can place assets in order to minimize the risk involved in holding them. Private equity is a category of assets such as securities and debt belonging to companies not publicly traded on any stock exchange, or those that have been de-listed from stock markets. Such companies often hold potential for great revenue, leading private equity firms to purchase ownership. Such firms purchase equity by going to investors and gathering funds; those funds are offered to the private company in exchange for a substantial share in the company, usually enough for the buyer to gain a controlling interest or, at the very least, some position of authority. Private equity firms aiming to take over a company tend to make acquisitions via a leveraged buyout (LBO). Firms implement an LBO to complement their private equity funding with funds from banks. Naturally, private equity firms seek to make back the money they raised to acquire a company. They receive returns on their investments through means such as offering shares of the company to the public through an initial public offering (IPO), performing a merger or acquisition, or recapitalization, the practice of distributing cash generated by the company to shareholders.

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AFME Commends European Commission’s Securitization Proposals

Firminy Capital Sarl has spent almost a decade administering the Firminy Equity Fund, which offers risk-valued securities products to help investors grow their assets. Headquartered in Luxembourg, Firminy Capital Sarl updates the fund’s financials supervised by the European Securitization Forum with the Association for Financial Markets in Europe (AFME). AFME recently issued a press release to commend the European Commission’s new securitization proposals. In the press release, AFME explained that creating a “simple, transparent and standardized (STS) securitization market” is essential to the commission’s capital markets union project. AFME’s head of fixed income also noted that the proposals represent a robust beginning to the process of rejuvenating a securitization market that is capable of facilitating deeper capital markets and financing for homeowners, small businesses, and consumers in Europe. The organization highlighted a number of positive changes in the proposals, including more structure for short-term securitization, modifications to the Basel capital hierarchy, and standardization of due diligence practices across investor types. According to AFME’s chief executive, legislators in the EU need to move quickly on the regulation adjustments and eliminate lingering uncertainties.                            

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The AFME’s Securitization Division

An established equity investment firm based in Luxembourg, Firminy Capital Sarl manages its private securitization fund, the Firminy Equity Fund, to give investors risk-valued securities products. The Firminy Equity Fund regularly updates its financials under the observation of Firminy Capital Sarl and the European Securitization Forum, which is part of the securitization division of the Association for Financial Markets in Europe (AFME). In the securitization division, the AFME concentrates on policy issues related to financial markets, member education, and the establishment of best practices. The division’s policy-related work is designed to eliminate inadequacies in market regulation and provide industry expertise that helps enhance debate on market practice. As a recognized securitization resource, the AFME securitization division also works with policy makers and other groups to increase the understanding of securitization and develop consistent best practices. Through its education initiatives, the securitization division strives to inform the securitization community and other stakeholders about the market developments and advantages of securitization. The division hosts relevant and high-quality conferences, seminars, and workshops that enable participants to both enhance their knowledge and discuss the latest industry issues.

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Review of Renewable Energy Investments in 2014

Led by Dirk Coetzer, Firminy Capital Sarl manages the Firminy Equity Fund FT. The Firminy Equity Fund FT includes a sub-fund that focuses on the alternative energy sector. Firminy Capital Sarl developed the sub-fund to give clients the opportunity to invest in research and development of renewable energy resources. While renewable energy only accounts for 9 percent of global electricity generation, Frankfurt School-UNEP Centre, in collaboration with Bloomberg, notes positive progression in investments. The end of 2014 brought in $270.2 billion in global renewable energy investments, nearly a 17 percent increase. Investment in developing nations grew by 36 percent. At the country level, China attracted nearly a third of all renewable energy investments in 2014, with more than $83 billion. Meanwhile, Brazil and Netherlands saw a massive surge in renewable energy investment during that same time period, with the two countries posting a 93 percent and 266 percent increase, respectively.

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Luxembourg is One of World’s Strongest Financial Centers

Established in 2007 in Luxembourg, Firminy Capital Sarl manages the Firminy Capital Fund, a securitization fund. Under Luxembourg law, individuals and businesses can redirect a share of their assets to securitization funds for management by financial professionals. Luxembourg’s securitization practices are one example of how the European country is a major world financial center. Luxembourg holds status as the world’s second largest fund center. The country established a strong public banking sector and has been a leading source for investment funds since the 1980s. Over the past decades, Luxembourg has expanded its presence with other niche activities to develop a diversified financial sector. The country’s political and social stability, combined with its constantly evolving legal framework and international orientation have provided a foundation for its success. Financial experts in Luxembourg have a deep commitment to serving the needs of international clientele. The country has strong anti-money laundering laws and an intense focus on investor protection. These factors make Luxembourg appealing to investors from around the world.

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Understanding the Role of Fiduciaries

Firminy Capital Sarl, based in Capellen, Luxembourg, was established by a partnership of South African businessmen in 2007. Dedicated to protecting its clients' illiquid assets, Firminy Capital Sarl provides securitization opportunities and also serves as a fiduciary that oversees the funds of several estates. A fiduciary is an individual or entity that has been given the legal right to hold the assets of another individual or entity. The person for whom the fiduciary holds assets is called a principal. Often, children and the elderly require fiduciary services. Other examples of fiduciary relationships include those between a director and her shareholders, a guardian and her ward, or a lawyer and her client. Due to the significant responsibility of a fiduciary to account for the assets of a principal, U.S. law states that it is illegal for a fiduciary to make a profit from a principal's assets without the principal's express informed consent. In fact, of all the duties of care acknowledged by the United States legal system, the fiduciary duty is the most strictly legislated. A fiduciary also may not knowingly enter into any relationship that may result in a conflict of interest between the fiduciary and her principal.

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The Firminy Equity Fund: More Secure Investment for Luxembourg

In 2004, Luxembourg passed the Securitisation Law; part of this law allows for Luxembourg citizens and companies to invest in what are known as securitization funds. As the name suggests, these funds are designed to be somewhat more secure than normal stock investments, as the securities are not publicly issued for trade in the continuous market. The investment company Firminy Capital Sarl, established in Cappelen in 2007, operates one such securitization fund: The Firminy Equity Fund.  Firminy Capital Sarl uses its team of financial experts to try to grow its clients’ assets. It does this by investing in companies both in Luxembourg and abroad, buying cash holdings, issuing business loans and guarantees, or making any other transactions it deems to be the best option. Investors can agree to different levels of risk in exchange for potentially greater levels of growth. In this way, even inexperienced citizens have the chance to participate in the investment market, and possibly earn lucrative dividends.

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