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Bourbon, by U.S. law, must be aged in new oak barrels. The maturation is also how whiskey increases in value. Agence France-Presse/Getty Images
The fund managers at Wave Financial Group considered different options when they were looking for an investment they could turn into a digital asset. Fine art, wine, and racehorses all lost out to America’s humble native spirit: Kentucky whiskey $2.5 million worth of it.
The group’s Kentucky Whiskey 2020 Digital Fund purchased 2,500 barrels of new whiskey in 2020, betting that the barrels will increase in value by three to five times in the course of the five years they spend stored in a warehouse in Kentucky. The group initially had a higher target of 25,000 barrels.
To the Editor: Andrew Bary’s comprehensive, balanced article, “Best Income Investments for 2021” (Cover Story, Jan. 1), spotlights the potential for electric utilities. I concur. Utilities are essential for everyone; they generate earnings 24/7, and if you don’t pay the bill, your power is cut off. The reinvested yield from that underappreciated sector justifies holding those stocks for the long term.
Joel Goodman, Centennial, Colo.
To the Editor: Enterprise Products Partners is best of breed and proved its superior management, business model, and resilience back in March and April, when it had no problem remaining solvent and maintaining its dividend, and was able to go to issue debt as a safety valve that the market priced at a very low yield.
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A senior clerk at the National Open University of Nigeria, Makurdi centre, Benue State, Iko Danasabe, has been arrested for the alleged murder of his colleague, Francis Atache.
Danasabe reportedly connived with some gang members to kill Atache, also a clerical official at NOUN, and dumped his corpse in a bush.
City Round learnt that Danasabe was into a contribution scheme and had given Atache N70,000 to help him deposit the money with the thrift collector. Atache was said to have failed to deposit the money and refused to return it to Danasabe.
After several attempts to get him to refund the sum, Danasabe allegedly engaged some suspected members of a cult group which he belonged to and waylaid Atache at a smoking joint.
Rattanindia Power has issued and allotted 1,96,500 non-convertible debentures of face value of Rs 1 lakh each at issue price of Rs 1 lakh each to Aditya Birla ARC on conversion of an outstanding debt facility.
Importantly, the NCDs carry an interest rate per annum, which is less by 1.25 %, in comparison to the rate of interest which was applicable to the erstwhile debt facility, thereby meaning savings in financing cost for the Company.
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