Our thirteenth update email tracks recent actions and news concerning European Family Investment Companies (FICs). This Edition contains news items featuring 19 FICs from Italy, Portugal, Germany, The Netherlands, UK, France, Bermuda, Belgium, Denmark, Sweden, Italy and Norway, again examining how European FICs are managing as the pandemic crisis continues.
We are now in the Q3 reporting period for many FICs, whose results again confirm that key attributes – diversification, low leverage, high liquidity, long-termism, strong values – are helping them not only survive but even prosper during the current crisis. While the outlook remains uncertain, many FICs express cautious optimism for the future. As in previous News Briefings, we again see clear evidence of the benefits of the flexible FIC portfolio model as investments are made, companies are sold and partnerships forged. FIC entrepreneurship and forward thinking are also demonstrated by entering new investment sectors (healthcare), geographies (first investment in Europe for one subsidiary) and setting up a new division to open-up a new investment area (Sustainable), a trend also discussed in the First Edition of our Report (see Section 9.1 for example). And again, FICs have shown leadership by making senior executive changes and social responsibility by supporting charities in their community.
The News Briefing concludes with 10 practical Takeaways, our interpretations of what the news means for family investment companies.
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