Fintech PR
Artprice100©: The Art Market’s Blue-chip Artists Yield Nearly as Much as the Top Performing Companies in the American Economy
thierry Ehrmann, Artprice’s founder/CEO, highlights the art market’s excellent performance in H1 2019: “A collector who, at the start of this year, invested in the 100 most successful artists of the last five years (2014-2018), would already be looking at a value accretion of almost a sixth in the value of his/her portfolio.”
The Artprice100 © index gained +16% over the first half of 2019 while the S&P 500 added +18% over the same period. The similarity in the performances between the American financial markets and a portfolio of works by the world’s top performing artists (defined in a purely objective manner) proves the undeniable attractiveness of the Art Market as an alternative investment.
Fewer transactions
The performance of the Artprice100© over the first half of 2019 was driven by exceptionally strong demand, barely satisfied by supply. The supply/demand imbalance, generated a rapid increase in value, particularly on works by the 100 top performing artists on the global secondary art market.
The turnover slowdown recorded in H1 2019 by major auction houses, including Sotheby’s (-9%) and Christie’s (-28%), reflects a less dynamic high-end market than in previous years. However, prices have shown no signs of fatigue and the contraction in the volume of sales is a reminder that the art market is directly dependent on the number of works in circulation.
In a financial context of sustained negative or near-zero refinancing rates, some collectors are probably preferring to hold certain artworks and not cash in on investments that remain highly competitive. Moreover, the persistence of extremely high transaction costs, both in galleries and in auction rooms, is discouraging short holding periods (under five years), and tempting some collectors to consider private transactions as an alternative.
The Artprice100© index driven by Warhol, Zao Wou-Ki and Wu Guanzhong
Heavily weighted in our Artprice100© index with 9.1% of the portfolio, Pablo Picasso has not contributed to its value accretion for several years. As we have seen over the last four years, his prices contracted -2% in the first half of 2019.
However, Andy Warhol, Fu Baoshi, Zao Wou-Ki and particularly Wu Guanzhong have all clearly enjoyed value accretion, providing the main thrust for the progression of our Artprice100© index in H1 2019. Without setting any new auction records, these artists have all enjoyed strong price inflation. The sale of major works by these artists will no doubt confirm the trend.
On 2 June last, a large drawing by Wu Guanzhong entitled Lion grove garden (1988) fetched $20.8 million at China Guardian. It was previously acquired for $17.8 million on 3 June 2011 at Poly Beijing. Adding 17% over the last eight years, the drawing generated, in financial terms, an average annual return of +1.9%. However, another Guanzhong resale suggests that the bulk of the value accretion on his works has occurred in the last 6 months: an important Guanzhong work entitled Two Swallows was purchased for $7.1 million on 3 June 2011 (at the same sale as Lion grove garden) and fetched $7.8 million in December 2018, an increase of just +9.8%.
Paul Cézanne and George Condo
Investments in Modern artists carry the least risk and demand for their work is continuing to grow steadily offering attractive returns over the long term. Claude Monet and Paul Signac have both signed new auction records this year. Similarly, 2019 is already proving to be a superb year (the best since 2000) for Paul Cézanne. His painting Bouilloire et fruits (c. 1888-90), acquired for $29.5 million in 1999, fetched $59.3 million on 13 May 2019 at Christie’s New York, generating an average annual ROI of 3.6% over 20 years.
At the other end of the spectrum, Contemporary artists offer striking returns in the medium and short term. The most spectacular entry into the composition of the Artprice100© index this year is undoubtedly George Condo. The American artist enjoyed a massive secondary market success in 2018with 78 paintings and 34 drawings selling for more than $63 million, and on three continents (America, Europe and Asia)! The Condo phenomenon has been clearly illustrated by a number of rapid resales of small works including Soft Green Abstraction (1983), which was purchased for $17,000 in April 2017 in Munich and resold a year later in New York for $46,000.
In total, there were seven changes this year in the composition of the Artprice 100© index.
In |
Out |
George Condo |
Huang Binhong |
Giorgio Morandi |
Huang Zhou |
Robert Motherwell |
Anish Kapoor |
Jean Paul Riopelle |
Li Keran |
Rufino Tamayo |
Xu Beihong |
Frank Auerbach |
Pieter Brueghel II |
Hans Arp |
Giorgio de Chirico |
Four women… and two Old Masters
Unfortunately, we see no change regarding female artists. This year again, only four of the artists in the Artprice100© are women: Yayoi Kusama (Japan), Joan Mitchell (US), Louise Bourgeois (France) and Barbara Hepworth (UK). Yayoi Kusamanow represents 1.3% of the index compared with 0.9% last year. Her price index rose 20% in H1 2019.
The relegation of Pieter Brueghel II for reasons relating to market liquidity has exacerbated the rarity of Old Masters in the index. Numerically, the composition of the index is dominated by Modern artists, numbering 49, followed by Post-War artists (29), Contemporary artists (12), 19th century artists (8) and lastly… Old Masters (only 2).
Composition of Artprice100© index for H1 2019
Artist – Share – Period
- Pablo PICASSO (1881-1973) – 9.1% – Modern
- Andy WARHOL (1928-1987) – 6.4% – Post-War
- Claude MONET (1840-1926) – 4.5% – 19th Century
- QI Baishi (1864-1957) – 3.9% – Modern
- Jean-Michel BASQUIAT (1960-1988) – 3.7% – Contemporary
- Gerhard RICHTER (b. 1932) – 3.3% – Post-War
- ZAO Wou-Ki (1921-2013) – 2.9% – Post-War
- FU Baoshi (1904-1965) – 2.5% – Modern
- Alberto GIACOMETTI (1901-1966) – 2.4% – Modern
- Amedeo MODIGLIANI (1884-1920) – 2.2% – Modern
- Cy TWOMBLY (1928-2011) – 2.2% – Post-War
- WU Guanzhong (1919-2010) – 2.1% – Modern
- Roy LICHTENSTEIN (1923-1997) – 2.0% – Post-War
- Lucio FONTANA (1899-1968) – 1.9% – Modern
- Alexander CALDER (1898-1976) – 1.8% – Modern
- Marc CHAGALL (1887-1985) – 1.8% – Modern
- Joan MIRO (1893-1983) – 1.7% – Modern
- Willem DE KOONING (1904-1997) – 1.7% – Modern
- Henri MATISSE (1869-1954) – 1.5% – Modern
- Fernand LÉGER (1881-1955) – 1.4% – Modern
- Christopher WOOL (b. 1955) 1.4% – Contemporary
- Yayoi KUSAMA (b. 1929) – 1.3% – Post-War
- Jean DUBUFFET (1901-1985) – 1.3% – Modern
- René MAGRITTE (1898-1967) – 1.2% – Modern
- Peter DOIG (b. 1959) – 1.2% – Contemporary
- Wassily KANDINSKY (1866-1944) – 1.2% – Modern
- Jeff KOONS (b. 1955) – 1.2% – Contemporary
- David HOCKNEY (b. 1937) – 1.1% – Post-War
- Henry MOORE (1898-1986) – 1.0% – Modern
- LIN Fengmian (1900-1991) – 0.9% – Modern
- CHU Teh-Chun (1920-2014) – 0.9% – Post-War
- Paul GAUGUIN (1848-1903) – 0.9% – 19th Century
- Pierre-Auguste RENOIR (1841-1919) – 0.8% – 19th Century
- SAN Yu (1895-1966) – 0.8% – Modern
- Richard PRINCE (b. 1949) – 0.8% – Contemporary
- Sigmar POLKE (1941-2010) – 0.7% – Post-War
- Joan MITCHELL (1926-1992) – 0.7% – Post-War
- PU Ru (1896-1963) – 0.7% – Modern
- Auguste RODIN (1840-1917) – 0.7% – 19th Century
- Edgar DEGAS (1834-1917) – 0.7% – 19th Century
- Paul CÉZANNE (1839-1906) – 0.7% – 19th Century
- Yves KLEIN (1928-1962) – 0.6% – Post-War
- Camille PISSARRO (1830-1903) – 0.6% – 19th Century
- Richard DIEBENKORN (1922-1993) – 0.6% – Post-War
- Ed RUSCHA (b. 1937) – 0.6% – Post-War
- Keith HARING (1958-1990) – 0.5% – Contemporary
- Martin KIPPENBERGER (1953-1997) – 0.5% – Contemporary
- Louise BOURGEOIS (1911-2010) – 0.5% – Modern
- Alberto BURRI (1915-1995) – 0.5% – Modern
- Frank STELLA (b. 1936) – 0.5% – Post-War
- Damien HIRST (b. 1965) – 0.4% – Contemporary
- Egon SCHIELE (1890-1918) – 0.4% – Modern
- Ernst Ludwig KIRCHNER (1880-1938) – 0.4% – Modern
- Georges BRAQUE (1882-1963) – 0.4% – Modern
- Georg BASELITZ (b. 1938) – 0.4% – Post-War
- Pierre SOULAGES (b. 1919) – 0.4% – Modern
- Juan GRIS (1887-1927) – 0.4% – Modern
- Salvador DALI (1904-1989) – 0.4% – Modern
- Edvard MUNCH (1863-1944) – 0.4% – Modern
- Paul SIGNAC (1863-1935) – 0.4% – Modern
- DONG Qichang (1555-1636) – 0.4% – Old Master
- Fernando BOTERO (b. 1932) – 0.4% – Post-War
- WEN Zhengming (1470-1559) – 0.4% – Old Master
- George CONDO (b. 1957) – 0.4% – Contemporary
- Sam FRANCIS (1923-1994) – 0.4% – Post-War
- Alighiero BOETTI (1940-1994) – 0.4% – Post-War
- Bernard BUFFET (1928-1999) – 0.4% – Post-War
- Max ERNST (1891-1976) – 0.4% – Modern
- Robert RAUSCHENBERG (1925-2008) – 0.4% – Post-War
- CHEN Yifei (1946-2005) – 0.3% – Contemporary
- Maurice DE VLAMINCK (1876-1958) – 0.3% – Modern
- Barbara HEPWORTH (1903-1975) – 0.3% – Modern
- Pierre BONNARD (1867-1947) – 0.3% – Modern
- Donald JUDD (1928-1994) – 0.3% – Post-War
- Max BECKMANN (1884-1950) – 0.3% – Modern
- Tsuguharu FOUJITA (1886-1968) – 0.3% – Modern
- Alfred SISLEY (1839-1899) – 0.3% – 19th Century
- Laurence Stephen LOWRY (1887-1976) – 0.3% – Modern
- Morton Wayne THIEBAUD (b. 1920) – 0.3% – Post-War
- Nicolas de STAËL (1914-1955) – 0.3% – Modern
- Enrico CASTELLANI (1930-2017) – 0.3% – Post-War
- Anselm KIEFER (b. 1945) – 0.3% – Contemporary
- Michelangelo PISTOLETTO (b. 1933) – 0.3% – Post-War
- GUAN Liang (1900-1986) – 0.3% – Modern
- Kees VAN DONGEN (1877-1968) – 0.3% – Modern
- Francis PICABIA (1879-1953) – 0.3% – Modern
- Piero MANZONI (1933-1963) – 0.3% – Post-War
- Tom WESSELMANN (1931-2004) – 0.3% – Post-War
- Giorgio MORANDI (1890-1964) – 0.3% – Modern
- Günther UECKER (b. 1930) – 0.2% – Post-War
- Josef ALBERS (1888-1976) – 0.2% – Modern
- Robert MOTHERWELL (1915-1991) – 0.2% – Modern
- Rufino TAMAYO (1899-1991) – 0.2% – Modern
- Hans ARP (1886-1966) – 0.2% – Modern
- Emil NOLDE (1867-1956) – 0.2% – Modern
- Paul KLEE (1879-1940) – 0.2% – Modern
- Jean-Paul RIOPELLE (1923-2002) – 0.2% – Post-War
- Alexej VON JAWLENSKY (1864-1941) – 0.2% – Modern
- Albert OEHLEN (b. 1954) – 0.2% – Contemporary
- Frank AUERBACH (b. 1931) – 0.2% – Post-War
SOURCE Artprice.com
Fintech PR
Invitation to presentation of EQT AB’s Q1 Announcement 2024
STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.
The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.
To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.
The webcast can be followed live here and a recording will be available afterwards.
Information on EQT AB’s financial reporting
The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.
The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.
Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]
Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/eqt/r/invitation-to-presentation-of-eqt-ab-s-q1-announcement-2024,c3956826
The following files are available for download:
Invitation to presentation of EQT AB’s Q1 Announcement 2024 |
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EQT AB Group |
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Fintech PR
Kia presents roadmap to lead global electrification era through EVs, HEVs and PBVs
- Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
- Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
- Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
- Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
- PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
- Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
- 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
- CEO reaffirms Kia’s commitment to ESG management
SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.
Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.
During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.
The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.
“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”
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Fintech PR
BioVaxys Technology Corp. Provides Bi-Weekly MCTO Status Update
VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.
As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.
The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.
Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.
About BioVaxys Technology Corp.
BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.
ON BEHALF OF THE BOARD
Signed “James Passin“
James Passin, Chief Executive Officer
Phone: +1 646 452 7054
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