How does a venture capitalist appraise investment opportunities?

Size: px
Start display at page:

Download "How does a venture capitalist appraise investment opportunities?"

Transcription

1 1 How does a venture capitalist appraise investment opportunities? Michael Queen - Finance Director, 3i Group plc A presentation to: 23 Pensions Convention 2 June 23 A How presentation does a venture to: 23 capitalist Pensions assess Convention and price investment opportunities? Contents Overview of the private equity market The investment lifecycle Early-stage technology / life sciences vs established businesses The investment decision key considerations Pricing investment opportunities 2 Terminology Private equity Buy-outs and buy-ins Mature companies Involves change of ownership, majority stakes Growth or development capital Private (often family owned) companies Minority stakes Venture capital Early stage technology companies Minority stakes 3

2 Global investment trends 25 2 (US$bn) Source: Global Private Equity 22 (3i/PwC) (22 fig is estimate) Stage of investment - % of global market Total invested (%) Buyout Late stage Expansion Early stage Source: Global Private Equity 22 (3i/PwC) 5 Top 2 countries by investment North America 1. USA 4. Canada Western Europe 2. United Kingdom 3. Germany 5. France 7. Italy 8. Sweden 12. Netherlands 17. Spain 19. Belgium 62% 21% 2% 2% Central & South America <1% 12% Middle East & Africa 13. Israel Asia Pacific 6. Japan 9. Korea 1. Hong Kong 11. China 14. Australia 15. India 16. Singapore 18. Taiwan 2. Denmark Source: Global Private Equity 22 (3i/PwC) 6

3 Private equity investment as % of GDP Austria Denmark Spain Ireland Germany Switzerland Italy Finland France Europe Netherlands UK Sweden US Source: EVCA Yearbook 22 7 European private equity investment Total value billion Source: EVCA 8 Role of the venture capitalist Originating investment opportunities Investment execution process Value growth strategy implementation Management of exit 9

4 Originating investment opportunities Visibility (and credentials) Relationships (intermediaries, research organisations, etc) Direct marketing to corporates (and others) Active acquisition searches 1 Investment execution process Business plan Scheme design and negotiation Management team Funding Due diligence Internal reviews and approvals Legal documentation Completion 11 Value growth strategy implementation Developing the value growth strategy Strengthening management team Finance Professional contacts Industry contacts General advice and monitoring 12

5 Management of exit Planning for exit Ongoing consideration of exit options and timing Appointing and instructing advisers How Early-stage does a venture technology capitalist / life sciences assess and vs price established investment businesses opportunities? Different attributes Risk assessment Financial projections / forecasts Valuation Lack of tangible assets Unpredictability of cash flows Cash absorbing Syndication & corporate strategic investors Funding business operating costs vs acquisition How The does investment a venture decision capitalist key assess considerations and price investment opportunities? What makes a successful investment? Strong, well-balanced management team Competitive position in a growing market Clear strategy for value creation Well-executed exit plan Sensible use of third party gearing Alignment of interests of management and other shareholders Sound management information systems Understanding shortcomings and addressing them 15

6 4. How The does investment a venture decision capitalist key assess considerations and price investment opportunities? Assessing and validating the value proposition Sector knowledge Developing value growth strategy (with management) Financial engineering Exit strategy Investment approval process Due diligence Post-deal action plan How Pricing does investment a venture capitalist opportunities assess and price investment opportunities? Returns reflecting risks of the opportunity Judgment / experience Ability to manage / change / flex risks and returns Financial engineering Management team capability Value growth strategy Exit assumptions and timing Vendor finance Management stake Pricing - broad rules of thumb 17 thank you 18

Foreign Taxes Paid and Foreign Source Income INTECH Global Income Managed Volatility Fund

Foreign Taxes Paid and Foreign Source Income INTECH Global Income Managed Volatility Fund Income INTECH Global Income Managed Volatility Fund Australia 0.0066 0.0375 Austria 0.0045 0.0014 Belgium 0.0461 0.0138 Bermuda 0.0000 0.0059 Canada 0.0919 0.0275 Cayman Islands 0.0000 0.0044 China 0.0000

More information

WELCOME! Introduction. Celebrating. &PrimeRevenue. PrimeRevenue Hong Kong. 2012 PrimeRevenue, Inc.

WELCOME! Introduction. Celebrating. &PrimeRevenue. PrimeRevenue Hong Kong. 2012 PrimeRevenue, Inc. WELCOME! Introduction Celebrating Ethe Factor Network establishment of &PrimeRevenue PrimeRevenue Hong Kong 2012 PrimeRevenue, Inc. Global Reach Today, we transact business in 50 countries Our platform

More information

Backing the companies of tomorrow. //////////////////////////////////////////// Creandum Nordic Technology Exit Analysis

Backing the companies of tomorrow. //////////////////////////////////////////// Creandum Nordic Technology Exit Analysis Backing the companies of tomorrow //////////////////////////////////////////// Creandum Nordic Technology Exit Analysis 1 Creandum exit database Database with 300+ private technology company exits 20+

More information

Global Investing 2013 Morningstar. All Rights Reserved. 3/1/2013

Global Investing 2013 Morningstar. All Rights Reserved. 3/1/2013 Global Investing 2013 Morningstar. All Rights Reserved. 3/1/2013 World Stock Market Capitalization Year-end 2012 18.5% 9.6% United States International: Other Europe United Kingdom Japan Other Pacific

More information

Report on Government Information Requests

Report on Government Information Requests Report on Government Information July 1 - December 31, 2014 apple Apple takes our commitment to protecting your data very seriously and we work incredibly hard to deliver the most secure hardware, software

More information

Microsoft Voucher Ordering Processes

Microsoft Voucher Ordering Processes Microsoft Voucher Ordering Processes *For purposes of this document, the term Member applies to all Microsoft Members, Academic, ITA and Learning partners. Pearson VUE Voucher Store The Pearson VUE Voucher

More information

MANDATORY PROVIDENT FUND SCHEMES AUTHORITY

MANDATORY PROVIDENT FUND SCHEMES AUTHORITY Guidelines III.4 MANDATORY PROVIDENT FUND SCHEMES AUTHORITY III.4 Guidelines on Approved Exchanges INTRODUCTION Section 2 of the Mandatory Provident Fund Schemes (General) Regulation ( the Regulation )

More information

CONSIDERATIONS WHEN CONSTRUCTING A FOREIGN PORTFOLIO: AN ANALYSIS OF ADRs VS ORDINARIES

CONSIDERATIONS WHEN CONSTRUCTING A FOREIGN PORTFOLIO: AN ANALYSIS OF ADRs VS ORDINARIES THE APERIO DIFFERENCE. Authors Michael Branch, CFA Ran Leshem CONSIDERATIONS WHEN CONSTRUCTING A FOREIGN PORTFOLIO: AN ANALYSIS OF ADRs VS ORDINARIES U.S. investors can capture international equity exposure

More information

Supported Payment Methods

Supported Payment Methods Supported Payment Methods Global In the global payments market, credit cards are the most popular payment method. However, BlueSnap expands the payment selection by including not only the major credit

More information

GLOBAL EDUCATION PROGRAM

GLOBAL EDUCATION PROGRAM GLOBAL EDUCATION PROGRAM RUSSIAN FEDERATION GOVERNMENT-SPONSORED PROGRAM THAT OFFERS RUSSIAN CITIZENS AN OPPORTUNITY TO STUDY AT LEADING FOREIGN UNIVERSITIES REGULATIONS: ABOUT GEP http://educationglobal.ru/o_programme/

More information

Global Long-Term Incentives: Trends and Predictions Results from the 2013 iquantic Global Long-Term Incentive Practices Survey

Global Long-Term Incentives: Trends and Predictions Results from the 2013 iquantic Global Long-Term Incentive Practices Survey Global Long-Term Incentives: Trends and Predictions Results from the 2013 iquantic Global Long-Term Incentive Practices Survey Jon F. Doyle and Sandra Sussman October 8, 2013 Presenters Jon F. Doyle Attorney

More information

Supported Payment Methods

Supported Payment Methods Sell Globally in a Snap Supported Payment Methods Global In the global payments market, credit cards are the most popular payment method. However, BlueSnap expands the payment selection by including not

More information

Notes to the consolidated financial statements continued

Notes to the consolidated financial statements continued 195 plc 4 Segmental information The Group s results can be segmented, either by activity or by geography. Our primary reporting format is on regional reporting lines, with supplementary information given

More information

The Role of Banks in Global Mergers and Acquisitions by James R. Barth, Triphon Phumiwasana, and Keven Yost *

The Role of Banks in Global Mergers and Acquisitions by James R. Barth, Triphon Phumiwasana, and Keven Yost * The Role of Banks in Global Mergers and Acquisitions by James R. Barth, Triphon Phumiwasana, and Keven Yost * There has been substantial consolidation among firms in many industries in countries around

More information

IOOF QuantPlus. International Equities Portfolio NZD. Quarterly update

IOOF QuantPlus. International Equities Portfolio NZD. Quarterly update IOOF QuantPlus NZD Quarterly update For the period ended 31 March 2016 Contents Overview 2 Portfolio at glance 3 Performance 4 Asset allocation 6 Overview At IOOF, we have been helping Australians secure

More information

OCTOBER 2010. Russell-Parametric Cross-Sectional Volatility (CrossVol ) Indexes Construction and Methodology

OCTOBER 2010. Russell-Parametric Cross-Sectional Volatility (CrossVol ) Indexes Construction and Methodology OCTOBER 2010 Russell-Parametric Cross-Sectional Volatility (CrossVol ) Indexes Construction and Methodology SEPTEMBER 2010 Russell-Parametric Cross-Sectional Volatility (CrossVol) Indexes Construction

More information

Hong Kong s Health Spending 1989 to 2033

Hong Kong s Health Spending 1989 to 2033 Hong Kong s Health Spending 1989 to 2033 Gabriel M Leung School of Public Health The University of Hong Kong What are Domestic Health Accounts? Methodology used to determine a territory s health expenditure

More information

The big pay turnaround: Eurozone recovering, emerging markets falter in 2015

The big pay turnaround: Eurozone recovering, emerging markets falter in 2015 The big pay turnaround: Eurozone recovering, emerging markets falter in 2015 Global salary rises up compared to last year But workers in key emerging markets will experience real wage cuts Increase in

More information

The rise of the cross-border transaction. Grant Thornton International Business Report 2013

The rise of the cross-border transaction. Grant Thornton International Business Report 2013 The rise of the cross-border transaction Grant Thornton International Business Report 2013 Foreword MIKE HUGHES GLOBAL SERVICE LINE LEADER MERGERS & ACQUISITIONS GRANT THORNTON INTERNATIONAL LTD When reflecting

More information

E-Seminar. Financial Management Internet Business Solution Seminar

E-Seminar. Financial Management Internet Business Solution Seminar E-Seminar Financial Management Internet Business Solution Seminar Financial Management Internet Business Solution Seminar 3 Welcome 4 Objectives 5 Financial Management 6 Financial Management Defined 7

More information

Verdict Financial: Wealth Management. Data Collection and Forecasting Methodologies

Verdict Financial: Wealth Management. Data Collection and Forecasting Methodologies Verdict Financial: Wealth Management Data Collection and Forecasting Methodologies April 2014 Contents Global Wealth Markets Methodology Methodology Methodology 2 Global Wealth Markets Section 1: Global

More information

GLOBAL DATA CENTER INVESTMENT 2013

GLOBAL DATA CENTER INVESTMENT 2013 2013 CENSUS REPORT: Global Data Center Investment 2013 GLOBAL DATA CENTER INVESTMENT 2013 2013 - Healthy Growth in Data Center Investment Globally Globally, the data center industry has continued to maintain

More information

Reporting practices for domestic and total debt securities

Reporting practices for domestic and total debt securities Last updated: 4 September 2015 Reporting practices for domestic and total debt securities While the BIS debt securities statistics are in principle harmonised with the recommendations in the Handbook on

More information

BT Premium Event Call and Web Rate Card

BT Premium Event Call and Web Rate Card BT Managed Event and BT Self-Managed Event (also referred to as Express, Plus and Premium) Conference Bridge and Call for Booked Audio Conferencing Services will comprise the following for each phone-conference:

More information

Statistics Compendium EBAN 2014. 5.5b

Statistics Compendium EBAN 2014. 5.5b Statistics Compendium EBAN 2014 5.5b The Statistics Compendium is Europe s most extensive annual research on the activity of business angels and business angel networks. It provides information on the

More information

Report on Government Information Requests

Report on Government Information Requests Report on Government Information January 1 - June 30, 2015 Apple takes our commitment to protecting your data very seriously and we work incredibly hard to deliver the most secure hardware, software and

More information

Installation Guide. 85070E Dielectric Probe Kit 85071E Materials Measurement Software

Installation Guide. 85070E Dielectric Probe Kit 85071E Materials Measurement Software Installation Guide This guide provides instructions for installing and configuring the following software products: 85070E Dielectric Probe Kit 85071E Materials Measurement Software Agilent Part Number:

More information

Global Investment Trends Survey May 2015. A study into global investment trends and saver intentions in 2015

Global Investment Trends Survey May 2015. A study into global investment trends and saver intentions in 2015 May 2015 A study into global investment trends and saver intentions in 2015 Global highlights Schroders at a glance Schroders at a glance At Schroders, asset management is our only business and our goals

More information

U.S. Trade Overview, 2013

U.S. Trade Overview, 2013 U.S. Trade Overview, 213 Stephanie Han & Natalie Soroka Trade and Economic Analysis Industry and Analysis Department of Commerce International Trade Administration October 214 Trade: A Vital Part of the

More information

On What Resources and Services Is Education Funding Spent?

On What Resources and Services Is Education Funding Spent? Indicator On What Resources and Services Is Education Funding Spent? In primary, secondary and post-secondary non-tertiary education combined, current accounts for an average of 92% of total spending in

More information

Global Dynamism Index (GDI) 2013 summary report. Model developed by the Economist Intelligence Unit (EIU)

Global Dynamism Index (GDI) 2013 summary report. Model developed by the Economist Intelligence Unit (EIU) Global Dynamism Index (GDI) 2013 summary report Model developed by the Economist Intelligence Unit (EIU) What is the Global Dynamism Index (GDI)? the GDI assesses the dynamism of 60 of the world's largest

More information

Trends in International Education

Trends in International Education Trends in International Education 1 Presentation Objectives 1. International landscape the competitive environment for recruitment of international students 2. Key statistics 3. Key trends 4. Observations/Conclusions

More information

Agilent FieldFox Remote Viewer

Agilent FieldFox Remote Viewer Agilent FieldFox Remote Viewer Application Brief Agilent Remote Viewer setup instructions The FieldFox remove viewer is a FREE ios application which allows you to view an Agilent FieldFox analyzer from

More information

Report on Government Information Requests

Report on Government Information Requests Report on Government Information Requests January - June, Apple takes our commitment to protecting your data very seriously and we work incredibly hard to deliver the most secure hardware, software and

More information

Brochure More information from http://www.researchandmarkets.com/reports/1339929/

Brochure More information from http://www.researchandmarkets.com/reports/1339929/ Brochure More information from http://www.researchandmarkets.com/reports/1339929/ The 2011 World Forecasts of Machine Tools That Remove Material by Laser or Light, Photon, Ultrasonic, Electro-Discharge,

More information

MERCER S COMPENSATION ANALYSIS AND REVIEW SYSTEM AN ONLINE TOOL DESIGNED TO TAKE THE WORK OUT OF YOUR COMPENSATION REVIEW PROCESS

MERCER S COMPENSATION ANALYSIS AND REVIEW SYSTEM AN ONLINE TOOL DESIGNED TO TAKE THE WORK OUT OF YOUR COMPENSATION REVIEW PROCESS MERCER S COMPENSATION ANALYSIS AND REVIEW SYSTEM AN ONLINE TOOL DESIGNED TO TAKE THE WORK OUT OF YOUR COMPENSATION REVIEW PROCESS MERCER S COMPENSATION ANALYSIS AND REVIEW SYSTEM www.imercer.com/cars Mercer

More information

Global AML Resource Map Over 2000 AML professionals

Global AML Resource Map Over 2000 AML professionals www.pwc.co.uk Global AML Resource Map Over 2000 AML professionals January 2016 Global AML Resources: Europe France Italy Jersey / Guernsey 8 Ireland 1 Portugal 7 Luxembourg 5 United Kingdom 1 50 11 Spain

More information

Comparative tables. CPSS Red Book statistical update 427

Comparative tables. CPSS Red Book statistical update 427 CPSS Red Book statistical update 427 January 2013 Table 1 Basic statistical data GDP (USD billions) 1 Population (millions, yearly average) Australia 952 1,050 999 1,246 1,500 21.1 21.4 21.8 22.1 22.4

More information

Configuring DHCP for ShoreTel IP Phones

Configuring DHCP for ShoreTel IP Phones Configuring DHCP for ShoreTel IP Phones Network Requirements and Preparation 3 Configuring DHCP for ShoreTel IP Phones The ShoreTel server provides the latest application software and configuration information

More information

Consumer Credit Worldwide at year end 2012

Consumer Credit Worldwide at year end 2012 Consumer Credit Worldwide at year end 2012 Introduction For the fifth consecutive year, Crédit Agricole Consumer Finance has published the Consumer Credit Overview, its yearly report on the international

More information

Triple-play subscriptions to rocket to 400 mil.

Triple-play subscriptions to rocket to 400 mil. Triple-play criptions to rocket to 400 mil. Global triple-play criptions will reach 400 million by 2017; up by nearly 300 million on the end-2011 total and up by 380 million on the 2007 total, according

More information

GLOBAL EDUCATION PROGRAM

GLOBAL EDUCATION PROGRAM GLOBAL EDUCATION PROGRAM RUSSIAN GOVERNMENT-SPONSORED SCHOLARSHIP PROGRAM THAT OFFERS RUSSIAN CITIZENS AN OPPORTUNITY TO STUDY AT LEADING FOREIGN UNIVERSITIES КSENIA IVANENKO REGULATIONS: ABOUT GEP http://educationglobal.ru/o_programme/

More information

World Consumer Income and Expenditure Patterns

World Consumer Income and Expenditure Patterns World Consumer Income and Expenditure Patterns 2014 14th edi tion Euromonitor International Ltd. 60-61 Britton Street, EC1M 5UX TableTypeID: 30010; ITtableID: 22914 Income Algeria Income Algeria Income

More information

Global Client Group The Gateway to AWM

Global Client Group The Gateway to AWM Global Client Group The Gateway to AWM January 2013 For professional investors only Content 1 2 3 Deutsche Bank and Asset Global Client Group Our product and service offering 1 Deutsche Bank A global partner

More information

2015 Growth in data center employment continues but the workforce is changing

2015 Growth in data center employment continues but the workforce is changing Published in Conjunction with MARKET BRIEFING GLOBAL DATA CENTER EMPLOYMENT 2015 2015 Growth in data center employment continues but the workforce is changing Globally, the number of people working in

More information

Agilent Mobile WiMAX R&D Test Set Solutions: Software and Technical Support Contract

Agilent Mobile WiMAX R&D Test Set Solutions: Software and Technical Support Contract Agilent Mobile WiMAX R&D Test Set Solutions: Software and Technical Support Contract Product Overview Maximize the potential of the E6651A Mobile WiMAX test set and related software with the latest software

More information

The Impact of The European Crisis on Travel To and From Europe and China & Asia-Pacific

The Impact of The European Crisis on Travel To and From Europe and China & Asia-Pacific The Impact of The European Crisis on Travel To and From Europe and China & Asia-Pacific A Report by Research For Travel Ltd July 2012 Research For Travel Ltd The Impact of The European Crisis on Travel

More information

Global Learning Management System Market Analysis - Forecast (2014-2020)

Global Learning Management System Market Analysis - Forecast (2014-2020) Brochure More information from http://www.researchandmarkets.com/reports/3506494/ Global Learning Management System Market Analysis - Forecast (2014-2020) Description: This analysis is one of the most

More information

The spillover effects of unconventional monetary policy measures in major developed countries on developing countries

The spillover effects of unconventional monetary policy measures in major developed countries on developing countries The spillover effects of unconventional monetary policy measures in major developed countries on developing countries Tatiana Fic National Institute of Economic and Social Research Objective The objective

More information

CNE Progress Chart (CNE Certification Requirements and Test Numbers) (updated 18 October 2000)

CNE Progress Chart (CNE Certification Requirements and Test Numbers) (updated 18 October 2000) Novell Education CNE Progress Chart (CNE Certification Requirements and Test Numbers) (updated 18 October 2000) Prerequisite for all certifications In order to receive a Novell certification the candidate

More information

Report on Government Information Requests

Report on Government Information Requests Report on Government Information July 1 - December 31, 2015 Apple takes our commitment to protecting your data very seriously and we work incredibly hard to deliver the most secure hardware, software and

More information

Second Quarter and First Half 2015 Trading Update

Second Quarter and First Half 2015 Trading Update Second Quarter and First Half 2015 Trading Update Trading Performance Year-on-Year Gross Profit Reported ( m) Constant 2015 2014 % % Q2 145.3 137.1 +6.0% +10.6% H1 281.0 263.7 +6.6% +10.8% Q2 Gross Profit

More information

Competition in the financial sector and its impact on financial intermediation. Dr Mamiko Yokoi-Arai

Competition in the financial sector and its impact on financial intermediation. Dr Mamiko Yokoi-Arai International Conference on Asian Market Integration and Financial Innovation February 10, 2012 Competition in the financial sector and its impact on financial intermediation Dr Mamiko Yokoi-Arai Evolution

More information

Australia s position in global and bilateral foreign direct investment

Australia s position in global and bilateral foreign direct investment Australia s position in global and bilateral foreign direct investment At the end of 213, Australia was the destination for US$592 billion of global inwards foreign direct investment (FDI), representing

More information

Wat verwacht de hybride consument van de verschillende distributiesystemen? Jan Verlinden Insurance Leader Belgium Capgemini

Wat verwacht de hybride consument van de verschillende distributiesystemen? Jan Verlinden Insurance Leader Belgium Capgemini Wat verwacht de hybride consument van de verschillende distributiesystemen? Jan Verlinden Insurance Leader Belgium Capgemini Each Year, Capgemini and Efma Publish Insights on the Insurance Sector Through

More information

GLOBAL EDUCATION PROGRAM (GEP)

GLOBAL EDUCATION PROGRAM (GEP) GLOBAL EDUCATION PROGRAM (GEP) RUSSIAN FEDERATION GOVERNMENT-SPONSORED PROGRAM THAT OFFERS RUSSIAN CITIZENS AN OPPORTUNITY TO STUDY AT LEADING FOREIGN UNIVERSITIES REGULATIONS: ABOUT GEP http://educationglobal.ru/o_programme/

More information

Connected Life. Connected Life TNS

Connected Life. Connected Life TNS 2016 Exploring how connectivity is changing the lives of consumers across the planet; representing 90% of the online population 50 markets 60,500 consumers 2 The sample profile of regular weekly internet

More information

GOŚĆ SPECJALNY. Ann Swain CEO APSCo (Association of Professional Staffing Companies) KAPITALIZACJA ŚWIATOWYCH TRENDÓW W REKRUTACJI

GOŚĆ SPECJALNY. Ann Swain CEO APSCo (Association of Professional Staffing Companies) KAPITALIZACJA ŚWIATOWYCH TRENDÓW W REKRUTACJI GOŚĆ SPECJALNY Ann Swain CEO APSCo (Association of Professional Staffing Companies) KAPITALIZACJA ŚWIATOWYCH TRENDÓW W REKRUTACJI Capitalising On The Global Trends For Recruitment Ann Swain, CEO, APSCo

More information

World Leasing Yearbook 2016

World Leasing Yearbook 2016 Brochure More information from http://www.researchandmarkets.com/reports/3687603/ World Leasing Yearbook 2016 Description: The 2016 edition provides valuable reference data for all players in the field,

More information

Morningstar is shareholders in

Morningstar is shareholders in Media Contact: Andy Seunghye Jung, +82 2 3771 0730 or andy.jung@morningstar.comm FOR IMMEDIATE RELEASE Morningstar A Grade Announces Findings from Fourth Global Fund Investor Experience Report; Korea Scores

More information

Get the benefits of Norgren s unique range of Online services

Get the benefits of Norgren s unique range of Online services Get the benefits of Norgren s unique range of Online services Make your job easier and save time - everything you need to select, design and purchase Norgren pneumatics is in one convenient location, available

More information

Lawson Business Intelligence. Solutions for Healthcare

Lawson Business Intelligence. Solutions for Healthcare Solutions for Healthcare Help is On the Way Lawson Business Intelligence You know the feeling. It s a case of TMI Too Much Information on a company-wide scale. Too often, you re forced to wade through

More information

Purchasing Managers Index (PMI ) series are monthly economic surveys of carefully selected companies compiled by Markit.

Purchasing Managers Index (PMI ) series are monthly economic surveys of carefully selected companies compiled by Markit. PMI Purchasing Managers Index (PMI ) series are monthly economic surveys of carefully selected companies compiled by Markit. They provide an advance signal of what is really happening in the private sector

More information

How many students study abroad and where do they go?

How many students study abroad and where do they go? From: Education at a Glance 2012 Highlights Access the complete publication at: http://dx.doi.org/10.1787/eag_highlights-2012-en How many students study abroad and where do they go? Please cite this chapter

More information

Schedule R Teleconferencing Service

Schedule R Teleconferencing Service Schedule R Teleconferencing Service 11-X-21415 Telecommunication Equipment & Services Hosted Telecommunications Services/Applications Teleconferencing Service Section 3.4.4 AT&T Audio Teleconferencing

More information

Brochure More information from http://www.researchandmarkets.com/reports/3278449/

Brochure More information from http://www.researchandmarkets.com/reports/3278449/ Brochure More information from http://www.researchandmarkets.com/reports/3278449/ The 2016 World Forecasts of Hand-Operated Date, Sealing, or Numbering Stamps; Devices for Printing or Embossing Labels;

More information

Lawson Talent Management

Lawson Talent Management Lawson Talent Imagine Knowing: Which employees have the highest potential how to recruit more talent like them. Imagine Understanding: Which employees are a flight risk how your compensation plans could

More information

BT Connect Networks that think

BT Connect Networks that think Networks that think We run network services for 3,000 organisations in 197 countries/territories BT Ethernet Connect update, December 2011 BT Ethernet Connect Quick recap What s new/changed What s coming

More information

GLOBAL DATA CENTER SPACE 2013

GLOBAL DATA CENTER SPACE 2013 2013 CENSUS REPORT: Global Data Center Space 2013 GLOBAL DATA CENTER SPACE 2013 Top 3 data center markets account for almost half of all global data center space. In spite of a slowdown in the amount of

More information

Global Effective Tax Rates

Global Effective Tax Rates www.pwc.com/us/nes Global s Global s April 14, 2011 This document has been prepared pursuant to an engagement between PwC and its Client. As to all other parties, it is for general information purposes

More information

Appendix 1: Full Country Rankings

Appendix 1: Full Country Rankings Appendix 1: Full Country Rankings Below please find the complete rankings of all 75 markets considered in the analysis. Rankings are broken into overall rankings and subsector rankings. Overall Renewable

More information

FedEx is the preferred and primary courier company for BP small package, parcel and express envelope (up to 150 lbs.) requirements worldwide.

FedEx is the preferred and primary courier company for BP small package, parcel and express envelope (up to 150 lbs.) requirements worldwide. FedEx is the preferred and primary courier company for BP small package, parcel and express envelope (up to 150 lbs.) requirements worldwide. Corporate Account To set up a corporate account or to update

More information

FAQs for Two-factor Authentication

FAQs for Two-factor Authentication FAQs for Two-factor Authentication Two-factor Authentication 1. What is two-factor authentication? Two-factor authentication is an authentication scheme that increases online security by relying on a combination

More information

Anthony Serhan, CFA Managing Director, Research Strategy

Anthony Serhan, CFA Managing Director, Research Strategy Anthony Serhan, CFA Managing Director, Research Strategy Morningstar Fund Flows Morningstar Fund Flows Analysis: Worldwide Funds 2014 a strong year for fund flows USD Billions 1,500 1,000 Unclassified

More information

Supply chain finance provides Dutch buyers with 22 billion additional free cash flow

Supply chain finance provides Dutch buyers with 22 billion additional free cash flow Supply Chain Finance ING Economics Department Supply chain finance provides Dutch buyers with 22 billion additional free cash flow This article determines the value to be gained by Dutch buyers and their

More information

The Determinants of Global Factoring By Leora Klapper

The Determinants of Global Factoring By Leora Klapper The Determinants of Global Factoring By Leora Klapper Factoring services can be traced historically to Roman times. Closer to our own era, factors arose in England as early as the thirteenth century, as

More information

AACSB International Accreditation and Joint Programs

AACSB International Accreditation and Joint Programs AACSB International Accreditation and Joint Programs Lucienne Mochel Assistant Vice President for Accreditation Services The AACSB Mission To advance quality management education worldwide through accreditation

More information

GE Grid Solutions. Providing solutions that keep the world energized Press Conference Call Presentation November 12, 2015. Imagination at work.

GE Grid Solutions. Providing solutions that keep the world energized Press Conference Call Presentation November 12, 2015. Imagination at work. GE Grid Solutions Providing solutions that keep the world energized Press Conference Call Presentation November 12, 2015 Press Conference Call Recording: Toll Free: +1 (855) 859-2056 Toll: +1 (404) 537-3406

More information

41 T Korea, Rep. 52.3. 42 T Netherlands 51.4. 43 T Japan 51.1. 44 E Bulgaria 51.1. 45 T Argentina 50.8. 46 T Czech Republic 50.4. 47 T Greece 50.

41 T Korea, Rep. 52.3. 42 T Netherlands 51.4. 43 T Japan 51.1. 44 E Bulgaria 51.1. 45 T Argentina 50.8. 46 T Czech Republic 50.4. 47 T Greece 50. Overall Results Climate Change Performance Index 2012 Table 1 Rank Country Score** Partial Score Tendency Trend Level Policy 1* Rank Country Score** Partial Score Tendency Trend Level Policy 21 - Egypt***

More information

2012 Country RepTrak Topline Report

2012 Country RepTrak Topline Report 2012 Country RepTrak Topline Report The World s View on Countries: An Online Study of the Reputation of 50 Countries RepTrak is a registered trademark of Reputation Institute. Global Reputation Knowledge

More information

Canada GO 2535 TM World Traveller's edition Maps of North America (Canada, US, Mexico), Western and Central Europe (including Russia) CAD 349,95

Canada GO 2535 TM World Traveller's edition Maps of North America (Canada, US, Mexico), Western and Central Europe (including Russia) CAD 349,95 Local products may have different maps, prices and products available. Please see below list for local information, prices in local currency and availability of services. An European device will have working

More information

Sulfuric Acid 2013 World Market Outlook and Forecast up to 2017

Sulfuric Acid 2013 World Market Outlook and Forecast up to 2017 Brochure More information from http://www.researchandmarkets.com/reports/2547547/ Sulfuric Acid 2013 World Market Outlook and Forecast up to 2017 Description: Sulfuric Acid 2013 World Market Outlook and

More information

360 o View of. Global Immigration

360 o View of. Global Immigration 360 o View of Global Immigration In a fast moving global economy, remaining compliant with immigration laws, being informed and in control is more challenging than ever before. We are a globally linked

More information

ON TRACK TO MEET FULL YEAR EXPECTATIONS. Overview. Strategic Highlights. Alison Cooper, Chief Executive, commented

ON TRACK TO MEET FULL YEAR EXPECTATIONS. Overview. Strategic Highlights. Alison Cooper, Chief Executive, commented ON TRACK TO MEET FULL YEAR EXPECTATIONS Overview First quarter performance in line with guidance and on track to meet full year outlook US business performing well and to plan Tobacco net revenue up 16.6%

More information

Agenda. Company Platform Customers Partners Competitive Analysis

Agenda. Company Platform Customers Partners Competitive Analysis KidoZen Overview Agenda Company Platform Customers Partners Competitive Analysis Our Vision Power the backend of the post- web enterprise Key Challenges of the Mobile Enterprise Enterprise systems integration

More information

Status of the ISO 55000 Asset Management System Standard

Status of the ISO 55000 Asset Management System Standard Status of the ISO 55000 Asset Management System Standard Michael E. Poland, CMRP Board Member, ANSI Corporate Member, IAM Director of Asset Management, Life Cycle Engineering ISO 55000 Asset Management

More information

Corporate Office 19200 Von Karman Ave Suite 150 Irvine, California 92612-8501. Toll Free: 888-643-3133 Fax: 949-502-0048 www.ifa.

Corporate Office 19200 Von Karman Ave Suite 150 Irvine, California 92612-8501. Toll Free: 888-643-3133 Fax: 949-502-0048 www.ifa. Corporate Office 19200 Von Karman Ave Suite 150 Irvine, California 92612-8501 Toll Free: 888-643-3133 Fax: 949-502-0048 www.ifa.com All Dimensional portfolio returns are net of all fees unless otherwise

More information

Agilent Infoline Web Services. Quick Reference Guide. Scan and use your phone to go to Infoline at www.agilent.com/find/service

Agilent Infoline Web Services. Quick Reference Guide. Scan and use your phone to go to Infoline at www.agilent.com/find/service Agilent Infoline Web Services Quick Reference Guide Scan and use your phone to go to Infoline at www.agilent.com/find/service One location for all information This quick reference guide reviews the powerful

More information

- 2 - Chart 2. Annual percent change in hourly compensation costs in manufacturing and exchange rates, 2010-2011

- 2 - Chart 2. Annual percent change in hourly compensation costs in manufacturing and exchange rates, 2010-2011 For release 10:00 a.m. (EST) Wednesday, December 19, 2012 USDL-12-2460 Technical Information: (202) 691-5654 ilchelp@bls.gov www.bls.gov/ilc Media Contact: (202) 691-5902 PressOffice@bls.gov INTERNATIONAL

More information

PCI Express Probes for Agilent E2960B PCI Express Analysis Systems

PCI Express Probes for Agilent E2960B PCI Express Analysis Systems PCI Express for Agilent E2960B PCI Express Analysis Systems Version: 1.2 Superior Signal Probing options to address diverse designs and form factors As an industry leader in the innovation of non-intrusive,

More information

Online Marketing Institute London, Feb 2012 Mike Shaw Director, Marketing Solutions

Online Marketing Institute London, Feb 2012 Mike Shaw Director, Marketing Solutions The State of Social Media Online Marketing Institute London, Feb 2012 Mike Shaw Director, Marketing Solutions comscore s Innovative Approach Revolutionizes Measurement 2 Million Person Panel 360 View of

More information

Constructing a High-Performance Tertiary Education System in Finland

Constructing a High-Performance Tertiary Education System in Finland Constructing a High-Performance Tertiary Education System in Finland Jamil Salmi, 10 December 2014 The future of tertiary education? A world of science fiction? social and economic progress is achieved

More information

Contact Centre Integration Assessment

Contact Centre Integration Assessment Contact Centre Integration Assessment How well are your business objectives aligned with the right contact centre technologies? Knowing how the technology in your contact centre supports service delivery

More information

Keysight M9485A PXIe Multiport Vector Network Analyzer. Configuration Guide

Keysight M9485A PXIe Multiport Vector Network Analyzer. Configuration Guide Keysight M9485A PXIe Multiport Vector Network Analyzer Configuration Guide 02 Keysight M9485A PXIe Multiport Vector Network Analyzer - Configuration Guide Ordering Guide The following steps will guide

More information

CMMI for SCAMPI SM Class A Appraisal Results 2011 End-Year Update

CMMI for SCAMPI SM Class A Appraisal Results 2011 End-Year Update CMMI for SCAMPI SM Class A 2011 End-Year Update Software Engineering Institute Carnegie Mellon University Pittsburgh, PA 15213 1 Outline Introduction Current Status Community Trends Organizational Trends

More information

Cisco Phone Systems Telemarketing Script Cold Call

Cisco Phone Systems Telemarketing Script Cold Call Cisco Phone Systems Telemarketing Script Cold Call 1. Locate Contact: Name listed Owner General Manager / Office Manager Chief BDM (Business Decision Maker) Note: Avoid talking to IT since this is not

More information

$63B* $2.9B* 3.3B sf 28K. A global leader

$63B* $2.9B* 3.3B sf 28K. A global leader Our capabilities A global leader DTZ is a global leader in commercial real estate services. With beginnings in 1784, our legacy of strong local market leadership today extends to serve clients with progressive,

More information

Governance, Risk and Compliance Assessment

Governance, Risk and Compliance Assessment Governance, Risk and Compliance Assessment Information security is a pervasive business requirement and one that no organisation can afford to get wrong. If it s not handled properly, your business could

More information

PCI Express 1.0 (2.5 GT/s) Protocol Test

PCI Express 1.0 (2.5 GT/s) Protocol Test PCI Express 1.0 (2.5 GT/s) Protocol Test Configuration and Pricing Guide Gen1 today, ready for Gen2 in the future As PCI Express Gen2 becomes more mature in the market, you must decide whether to continue

More information

HAS BRAZIL REALLY TAKEN OFF? BRAZIL LONG-RUN ECONOMIC GROWTH AND CONVERGENCE

HAS BRAZIL REALLY TAKEN OFF? BRAZIL LONG-RUN ECONOMIC GROWTH AND CONVERGENCE HAS BRAZIL REALLY TAKEN OFF? BRAZIL LONG-RUN ECONOMIC GROWTH AND CONVERGENCE COUNTRY PROFILE: A COUNTRY IN TRANSFORMATION POLICY RECOMENDATIONS COUNTRY PROFILE Brazilian Equivalent Population in The World

More information