Was planen Sie 2022 in Sachen Nachhaltigkeit mit Blick auf Ihr Angebot (neue ESG-Produkte oder Umwidmung bestehender Investments) und das eigene Unternehmen (Anlagerichtlinien, Selbstverpflichtungen, Ausbau des ESG-Teams o.ä.)?

Als führender Anbieter bei Sachwertefonds liegt der Fokus der XOLARIS Gruppe auf Private Label Fonds, welche mit ihren Investitionen die Entwicklung einer sozialen und ökologischen Gesellschaft fördern. Bei Immobilienfonds haben wir Themen wie Pflegeheime, studentisches Wohnen oder Sanierung von Wohnimmobilien konsequent weiterentwickelt. Auch bei Agrikultur, Logistik Equipment oder nachhaltiger Schifffahrt arbeitet die XOLARIS Gruppe mit einer Reihe von externen Spezialisten zusammen. Dabei legen wir Wert auf die tatsächliche Wirkung und den nachhaltigen Nutzen, sowohl für Anleger als für die Gesellschaft als Ganzes.

Planen Sie bestimmte Vertriebsaktionen oder Schulungen, um den Absatz nachhaltiger Investments zu stärken?

Die XOLARIS Gruppe legt großen Wert auf umfassende Produktschulungen für Vertriebspartner und Anlege. Wir bieten eine große Auswahl an Online Formaten, wie regelmäßige Webinare, diverse Fachartikel und Podcasts. Unsere Informationen sind in vielen Formaten bequem verfügbar.

Die XOLARIS Gruppe:

Die 2010 gegründete XOLARIS Gruppe steht mit ihren AIFM für eine unabhängige White Label – Investmentgesellschaft mit dem Fokus auf Alternative Investmentvermögen (AIF) in den Assetklassen Private Equity, Real Estate, Renewable Energy und Shipping. Mit Hauptsitz in Liechtenstein und Tochtergesellschaften in Deutschland, Frankreich, und Asien kann die die gesamte Wertschöpfungskette von Alternative Investments abgebildet werden getreu ihrem Motto: „Investment Quality – Made with Passion.“

Weitere Einheiten der Gruppe bieten Dienstleistungen von der Beratung zur Auflage, Strukturierung und dem Vertrieb über die Fondsbuchhaltung bis zur Administration Alternativer Investmentvermögen und weiterer Sachwertinvestments.

Als von Produktanbietern rechtlich unabhängiger Dienstleister für die Konzeption, die Verwaltung und das Management Alternativer Kapitalanlagen, versteht sich die XOLARIS Gruppe in Ihrer Gesamtheit als "Enabler" für Initiatoren und Investoren.

Wenn Sie immer über alle aktuellen Entwicklungen bei uns informiert bleiben wollen, folgen Sie doch einfach unserer Seite auf LinkedIn. www.linkedin.com/company/xolarisgroup

www.xol-group.com | XOLARIS AG | Austrasse 15 9490 Vaduz

Tel. +423 265 056 0 | Fax +423 265 056 9 | Mail: [email protected]

Pressekontakt: Zoe Peffer | T. +49 7531 584 88-30 | [email protected]

Renewables Energy

Angelo Olympio, Portfoliomanager, ADREALIS Service Kapitalverwaltungs-GmbH, Munich

ELECTRICITY HAS BECOME A VITAL PART OF THE WORLD WITHOUT IT WE WOULD STILL LIVE LIKE IN THE STONE AGE IT ENABLES INDUSTRIAL PRODUCTION, MOBILITY AND ENTERTAINMENT. OUR SOCIETY HAS BECOME ACCUSTOMED TO THE MOST IMPORTANT TECHNOLOGY THE INTERNET WOULD NOT WORK WITHOUT ELECTRICITY. TO SEE IF WE CAN PRODUCE THIS ELECTRICITY IN A SUSTAINABLE WAY, I WILL EXPLAIN IN A SHORT PARAGRAPH WHAT SUSTAINABILITY MEANS ENVIRONMENTAL SOCIAL GOVERNANCE (ESG)

More:https://en.blog.xol-group.com/renewables-energy

XOLARIS is now in its eleventh year of existence. Having started as a classic back-office outsourcer based in Constance, we have now developed into an international structuring and fund management platform for real assets, with offices in Liechtenstein, Germany, France, Singapore and Hong Kong.

In this regard, our growth is consistently breaking new ground.

When we made the decision to set up KVG, an independent service, in 2014, many people agreed that there would be no market for this service.

Today, the ManCo market is one of the fastest growing markets. Expansion into Asia in 2018 laid the foundations for internationalisation, which, in the capacity of first foreign market participant, reached another milestone in 2020, with relocation of the holding company to Liechtenstein and acquisition of the AIFM licence. As the next AIFM location, Paris is the logical next step of the XOLARIS Group’s success story.

In this context, it was and is always important to us that we remain true to our roots in the real asset business. We will continue to maintain this focus as we move towards becoming a global real asset investment group.

With our new CI, we want to break new ground in this area. The first edition of Market News as well as our podcasts, constitute another step in the development of the Group.

I would like to take this opportunity to thank all my colleagues, without whose great work the success of XOLARIS would not have been possible.

I hope you like our new format as well. Even so, we are open to suggestions and criticism and look forward to your feedback.

www.xol-group.com

Tel. +423 265 056 0 | Fax +423 265 056 9 | Mail: [email protected]

Newsletter, Podcast, XOLARIS MARKET NEWS: https://linktr.ee/xolaris_group

Press/ Podcast Contact: Zoe Peffer | T. +49 7531 584 88-30 | [email protected]

An initial approach to this can be obtained from the type of product assortment available. Below, we look at both the food sector (including related products) and the non-food sector.

When it comes to distribution channels, a basic distinction can be drawn between stationary retail and online retail, whereby stationary retail can be broken down in turn into "shopping malls",

"specialist retail centres" and inner-city retail.

The retail trade ensures that the population is supplied with its basic needs. In this regard, any changes taking place in this sector are an issue of crucial importance in relation to the its socio-

economic structure, as they are accompanied by corresponding alterations in lifestyle and the ways people organise their lives.

In the last 20 years, for example, it has become clear that "department stores" as a concept are increasingly just the "shopping temples" of a bygone era, they are virtually obsolete. In Germany first and foremost, the demise of Karstadt comes to mind. Changes in buying and demand behaviour have largely led to the "department stores'" becoming increasingly irrelevant, and this process has been accompanied by numerous individual store closures.

Online trading in clothing, computers, electronic articles and here, sales figures have been increasing for years. Top of the list in terms of online sales is clothing, at almost 9 billion euros, followed by computers and software at around 6 billion euros, and other retail at 4 billion euros.

More: https://en.blog.xol-group.com/retail-in-transition

XOLARIS is now in its eleventh year of existence. Having started as a classic back-office outsourcer based in Constance, we have now developed into an international structuring and fund management platform for real assets, with offices in Liechtenstein, Germany, France, Singapore and Hong Kong.

In this regard, our growth is consistently breaking new ground.

When we made the decision to set up KVG, an independent service, in 2014, many people agreed that there would be no market for this service.

Today, the ManCo market is one of the fastest growing markets. Expansion into Asia in 2018 laid the foundations for internationalisation, which, in the capacity of first foreign market participant, reached another milestone in 2020, with relocation of the holding company to Liechtenstein and acquisition of the AIFM licence. As the next AIFM location, Paris is the logical next step of the XOLARIS Group’s success story.

In this context, it was and is always important to us that we remain true to our roots in the real asset business. We will continue to maintain this focus as we move towards becoming a global real asset investment group.

With our new CI, we want to break new ground in this area. The first edition of Market News as well as our podcasts, constitute another step in the development of the Group.

I would like to take this opportunity to thank all my colleagues, without whose great work the success of XOLARIS would not have been possible.

I hope you like our new format as well. Even so, we are open to suggestions and criticism and look forward to your feedback.

www.xol-group.com

Tel. +423 265 056 0 | Fax +423 265 056 9 | Mail: [email protected]

Newsletter, Podcast, XOLARIS MARKET NEWS: https://linktr.ee/xolaris_group

Press/ Podcast Contact: Zoe Peffer | +49 75301 584 880 | [email protected]

Interview mit Stefan Klaile,Gründer der Xolaris Gruppe

Vertriebsgipfel FinanzBusiness 2021

FinanzBusinessMagazin: Wer ist die XOLARIS-Gruppe?

Stefan Klaile: Die XOLARIS Gruppe ist eine unabhängige Private Label – Investmentplattform mit Fokus auf Alternative Investmentfonds („AIF“) in den Assetklassen Private Equity, Immobilien, Erneuerbare Energien und Schiff fahrt sowohl für professionelle als auch für Privatinvestoren. Wir verstehen uns als Service Management Company („ManCo“) und werden von unseren Kunden als individueller Lösungsanbieter sehr geschätzt. Als Service Dienstleister agieren wir stets im Interesse unserer Kunden, der verwalteten AIF und ihrer jeweiligen Investoren unter stringenter Wahrung der bestehenden aufsichtsrechtlichen Rahmenbedingungen. Mit Hauptsitz in Liechtenstein agieren wir zudem an den Standorten München, Konstanz, Paris, Hongkong und Singapur.

Zur XOLARIS Gruppe

Die 2010 gegründete XOLARIS Gruppe steht mit ihren AIFM für eine unabhängige White Label – Investmentgesellschaft mit dem Fokus auf Alternative Investmentvermögen (AIF) in den Assetklassen Private Equity, Real Estate, Renewable Energy und Shipping. Mit Hauptsitz in Liechtenstein und Tochtergesellschaften in Deutschland, Frankreich, und Asien kann die die gesamte Wertschöpfungskette von Alternative Investments abgebildet werden getreu ihrem Motto: „Investment Quality – Made with Passion.“

Weitere Einheiten der Gruppe bieten Dienstleistungen von der Beratung zur Auflage, Strukturierung und dem Vertrieb über die Fondsbuchhaltung bis zur Administration Alternativer Investmentvermögen und weiterer Sachwertinvestments.

Als von Produktanbietern rechtlich unabhängiger Dienstleister für die Konzeption, die Verwaltung und das Management Alternativer Kapitalanlagen, versteht sich die XOLARIS Gruppe in Ihrer Gesamtheit als "Enabler" für Initiatoren und Investoren.

www.xol-group.com | XOLARIS AG | Austrasse 15 9490 Vaduz

Tel. +423 265 056 0 | Fax +423 265 056 9 | Mail: [email protected]

XOLARIS MARKET NEWS, Newsletter, Veranstaltungen: https://linktr.ee/xolaris_group

Pressekontakt: Zoe Peffer | +49 7531 584 880 | [email protected]

XOLARIS se développe en France et au Luxembourg

Le Groupe XOLARIS continue de croître et étend sa présence à la France et au Luxembourg, avec d’autres pays à suivre.

Le Groupe XOLARIS n’a cessé de se développer pour former une plateforme de structuration internationale d’actifs réels. Son bureau de Paris a été ouvert le 1er mai 2021.

Le nombre de pays dans lesquels des services de structuration et de gestion de fonds pour les FIA peuvent être offerts a été élargi à la France et au Luxembourg. Des pays comme l’Autriche, les Pays-Bas et Chypre suivront dans les prochains mois.

" Notre croissance montre qu'il y a une demande croissante pour notre offre de services de " plateforme de marque privée " ; cela s'ajoute à nos pays centraux actuels, l'Allemagne et le Liechtenstein, ainsi qu'à la France et au Luxembourg. Ce n'est pas tant que nous offrons à nos clients les avantages du Luxembourg en tant que lieu à part entière ; ils apprécient plutôt le fait que, dans nos discussions avec eux, nous sommes en mesure d'offrir des solutions dans un éventail de pays; et ainsi, pourrait potentiellement devenir un point de contact central en ce qui concerne leurs exigences en matière de structuration internationale d'actifs réels et de gestion de fonds. " Nous continuerons à poursuivre sur cette voie de manière constante ", déclare Stefan Klaile, membre du conseil d'administration de XOLARIS AG.

Le groupe XOLARIS continuera à élargir son orientation en tant que service de gestionnaire de fonds alternatifs internationaux pour les actifs réels. Avec des sites en Allemagne, au Liechtenstein, en France, à Hong Kong et à Singapour, nous sommes déjà en mesure de proposer à nos clients des solutions de structuration dédiées. Fidèle à notre devise "Made with Passion", nous prenons le temps de comprendre les besoins de nos clients et de les mettre en oeuvre dans des solutions de structuration personnalisées. Grâce à notre approche intégrée, de la structuration à la liquidation des fonds, nous sommes également en mesure de prendre en compte tous les souhaits de nos clients en matière d'administration ou de comptabilité des fonds.

Avec notre marque "Sunrise Capital", nous soutenons les partenaires de distribution et les investisseurs. Elle sert d'interface entre l'AIFM et nos clients et est le point de contact pour toutes les questions relatives aux ventes.

AIFMs are faced by a lot of regulatory changes in respect of risk management.

Lates development was the introduction of ESG criteria as a new risk factor. which leads to significant changes in the whole set-up of an organization and in daily operations.

Both real estate and private equity fund managers are concerned about the burden laid down to them as far as risk management is concerned. This was performed more or less with the help of a portfolio management system but without processes and procedures in place to fulfill regulatory requirements in full.

With the requirement for AIFMs to implement a functionally and hierarchically independent risk management function and setting up a documented risk management process, RE and PE fund managers have to familiarize themselves with a new operating model. In order to be independent of the risk-management function, specific safeguards have to be established. Senior Management must be composed adequately as well as the board, remuneration committee, and conflicts of interest policy. As an example, the oversight of risk management cannot be performed by the conducting officer in charge of portfolio management. Similarly, remuneration for personnel in control functions has to be separated from that of employees in operational units. The precondition for an AIFMD-compliant risk-management function is thus the implementation of an

according to organizational and governance structure.

The result is a huge challenge for current and prospective fund managers because all current processes and structures must be reviewed and – where necessary- replaced by appropriate procedures. Another difficulty is to find well-trained and experienced staff in order to be able to perform all risk management tasks properly because the job specification of a risk manager has changed dramatically during past years and the labor market for these specialists isn`t that big.

Another item in respect of performing risk management according to regulatory requirements is the question of which risk management software to use. This is dependent of the kind of funds an AIFM is administering and the risk management policy as well as measurement and management tools. The key obligations set out in the AIFMD and its delegated regulation (Level 2) are to identify, document, measure and monitor all risks that are relevant for each of its AIFs and the AIFM itself with adequate frequency. Risks that have to be monitored generally include market, credit, liquidity, counterparty, operational and ESG risks.

AIFMs must have a clear idea of the meaning and implications of risks for each AIF they administer. Therefore a stringent risk management framework has to be established allowing to monitor different fund types and associated risks and to set up risk limits. Once breached a predefined escalation process has to be followed. As an

example, market risk for a RE fund may be defined along the lines of investment market and micro-location developments, whereas for a PE fund investing in companies producing goods it may rather relate to developments within target customer groups or competitor movements.

more: https://www.yumpu.com/en/document/read/65724787/the-xolaris-market-news-n01

___

Follow us on LinkedIn for news and updates or send a message to @xolarisgroup or by e-mail to [email protected] for questions or support.

linktr.ee/xolaris_group

www.xol-group.com | XOLARIS AG | Austrasse 15, 9490 Vaduz

Tel. +423 265 056 0 | Fax +423 265 056 9 | Mail: [email protected]

Press Contact: Zoe Peffer | +49 7531 584 880 | [email protected]

Market Overview – France

French investment funds market is larger than

UK and very promising for Real Estate Funds

Volodymyr Andrianov, XOLARIS Capital AG, Liechtenstein

France is the 4th largest investment funds market in Europe (after respectively Luxembourg, Ireland and Germany), holding over 11% of the European total funds’ assets amounting up to over 1.900. trln. euro (out of total 17,5 trln. euro of funds

assets in Europe). And on the AIF´s market, France is the second largest in Europe, after Germany. From total number of French funds (around 11 000),

almost 70% are focused on alternative assets. Also on asset size, the share of alternative fund assets overweight the UCITS assets almost by half (1.150 bln. against 800 bln.). In terms of AIF assets, French AIF market is almost 3 times higher than UK (over 1.143 trln. in France against 439 bln. in UK). While traditionally the share of liquid assets had always been substantially higher on average across Europe.

However, the majority of the institutional investors in France still rely on discretionary mandates,

making it second largest asset management market in Europe in terms of assets size. Equally, it holds second place in Europe in terms of number of assets management companies located in country (633 in France out of 4 539 for the whole

Europe in 2018). At the same time the role of funds management companies evidenced some growth trend on the French market in the last few years making more and more asset holders to entrust it´s investment to fund’s management structures making this market attractive for the new entries by independent third party AIFM service providers.

The AIFM´s represent strong advantages for passive investors, comparing to traditional discretionary mandates, due to strictly regulated operation policies and procedures, personal liability of its’ core officers, existing multiple lines of defense of investor interests and enhanced standards independence protection in their decisions to the benefit of investors. The AIFM´s themselves being placed under very strict direct supervision of financial market regulating authority (which is Autorite des Marches Financiers in France)

focused on preservation of investor rights protection and stability of the financial market infrastructure.

more: https://www.yumpu.com/en/document/read/65724787/the-xolaris-market-news-n01

___

Follow us on LinkedIn for news and updates or send a message to @xolarisgroup or by e-mail to [email protected] for questions or support.

linktr.ee/xolaris_group

www.xol-group.com | XOLARIS AG | Austrasse 15, 9490 Vaduz

Tel. +423 265 056 0 | Fax +423 265 056 9 | Mail: [email protected]

Press Contact: Zoe Peffer | +49 7531 584 880 | [email protected]

Market Overview – Germany

As a business location, Germany is in better shape than you might expect after the pandemic year of 2020. Is this a new German summer fairytale?

Hendrik Böhrnsen, Managing Director, ADREALIS Service Kapitalverwaltungs-GmbH, Munich

One year on, the current situation in Germany is still being dictated by COVID-19, however. Just a few months ago there was considerable optimism that the second wave of the virus would sweep through Germany and that the economy would continue to recover rapidly from the consequences of the pandemic. Germany’s gross domestic product (GDP) bounced back up in the summer of 2020, while the country was even described then as Europe’s engine of growth. However, since November 2020, a renewed shut-down has been slowing the economy once again, with economic output stagnating after a major increase of 8.5 per cent in the third quarter. For 2020, the year of Covid-19, the overall slump in economic output was 5.5 per cent, which is slightly lower than during the global financial crisis of 2009.

In December 2020, it was assumed that the infection control measures in place since November would remain in effect unchanged until March 2021 and thus, that economic output would also decline in the first quarter of 2021; thereby meeting the requirements for a "technical" recession. Price-adjusted GDP is expected to fall by 0.7 per cent quarter-on-quarter in the first quarter of 2021, while economic output is expected to be a good 4 per cent below the pre-crisis level overall, by the end of the first quarter of 2021.

Even though we have now moved almost seamlessly from the second wave to the third wave of the virus and even though infection control measures have been extended until at least the middle of April 2021, we can still expect economic output to recover by a projected three per cent over the rest of 2021. In 2022, the recovery will continue, although its tempo will decrease significantly over the previous year. On average for the year, economic output should then increase by 2.5%. Germany’s strength as a business location was demonstrated in the summer of 2020, when the economy grew by 8.5 percent; as well as by its recovery after the global financial crisis of 2009. However, this time round, the recovery will be more difficult and not as straightforward as after the global financial crisis of 2009. Unless the pandemic is now contained effectively, any economic recovery will not be sustainable. This is all the more true, since coronavirus mutations are now spreading; and these are more contagious and increase the risk of infection.

The recovery is also expected to be very uneven, as sectors of the economy were hit by the Covid-19 pandemic to differing degrees. Industry was able to increase production further in December, despite tighter lockdown measures. One pillar of this has been construction, especially housing construction. In addition, demand for logistics real estate is likely to remain high, due to booming online trading.

more: https://www.yumpu.com/en/document/read/65724787/the-xolaris-market-news-n01

___

Follow us on LinkedIn for news and updates or send a message to @xolarisgroup or by e-mail to [email protected] for questions or support.

linktr.ee/xolaris_group

www.xol-group.com | XOLARIS AG | Austrasse 15, 9490 Vaduz

Tel. +423 265 056 0 | Fax +423 265 056 9 | Mail: [email protected]

Press Contact: Zoe Peffer | +49 7531 584 880 | [email protected]

Market Overview – Liechtenstein

The Place for Setting-Up an Alternative

Investment Fund ("AIF")

Kai Renning, Managing Director, XOLARIS Capital AG, Liechtenstein

Liechtenstein, which has been a member of the European Economic Area (EEA) since 1995, has

fully implemented the European directives for UCITS and AIFM at national level; it has done so in its legislation on specific undertakings for collective investment in transferable securities (UCITSG) and on alternative investment fund managers (AIFMG). Liechtenstein funds, their

providers and their managers are thus subject to exactly the same requirements at European level in the form of rights and obligations as those in EU member states and other EEA states. This includes

restrictions on constitutive documentation, as well as equal participation in the European internal

market via passporting. Investors, in turn, enjoy the same regulatory protection in all countries that have signed up to the European AIFM Directive.

The OECD has also been giving Liechtenstein high marks in its country assessments since 2015.

Liechtenstein now has the same rating as Germany,

for example, and takes effective action against tax fraud and tax evasion. Liechtenstein also

committed to the OECD's AEOI standard (exchange of certain information on financial accounts in tax matters) back in 2014. Liechtenstein's AEOI now covers well over 100 countries, including EU

member states. Here too, Liechtenstein ensures more tax transparency for foreign investors.

In addition to any legal and fiscal parameters, the Principality of Liechtenstein offers other advantages with significant added value when compared to other EEA member states; especially when it comes to the practical implementation of planned

financing structures. In this context, the Liechtenstein

Financial Market Authority ("FMA") deserves special mention, as it distinguishes itself through its highly specific practical knowledge and experience, both in terms of the market as well as in terms of investors and products. In general, the deadlines set for regulatory investigations are also significantly undercut; and this, which creates a high

degree of certainty for planning purposes for product suppliers and regulatory authority stakeholders.

The Liechtenstein Investment Fund Association ("LAFV") should also be cited. This organization was not created just to market Liechtenstein as a fund location, but rather to gather together the interests of market participants and to represent them to regulators and other equivalent protagonists. One helpful example of the usefulness of how useful synergies can be is, without doubt, the standardization constituent documentation, which has led to a significant reduction in costs and effort associated with the design of new financing projects. In addition, the LAFV also acts as a publication body for all investment fund structures in the country, thereby ensuring maximum transparency.

more: https://www.yumpu.com/en/document/read/65724787/the-xolaris-market-news-n01

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Follow us on LinkedIn for news and updates or send a message to @xolarisgroup or by e-mail to [email protected] for questions or support.

linktr.ee/xolaris_group

www.xol-group.com | XOLARIS AG | Austrasse 15, 9490 Vaduz

Tel. +423 265 056 0 | Fax +423 265 056 9 | Mail: [email protected]

Press Contact: Zoe Peffer | +49 7531 584 880 | [email protected]

Interview with Christian Minkus

As regards the future, it is important for us to

respond to the wishes and concerns of financial

intermediaries and to find joint solutions

Christian Minkus, Head of the Legal Section Securities und Markets Division

FMA, Financial Market Authority Liechtenstein

Dear Mr Minkus,

Even before the AIFMD was introduced, the Principality of Liechtenstein implemented the Directive in 2012. An article in the journal ZBB 2014, 22ff stated " ...the Principality of Liechtenstein is included because this EEA state has wrested the traditional role of "first mover...." from Luxembourg; it did this by adopting it in full in December 2012."

At XOLARIS, we are familiar with the issue of first movers and the associated risks. What motivated the FMA to take this step ahead of any other European country and in this way put Liechtenstein very clearly on the map?

Liechtenstein has close economic and social ties with its neighbours. It also was and, therefore, continues to be a concern that mutual market access should be made possible. As a member of the European Economic Area, Liechtenstein is also required to implement the European financial market regulatory regime into national law. The rapid, consistent and market-driven implementation of strategic EU regulations, such as the AIFMD Directive, creates certain competitive advantages and this precisely in sectors where markets are only just opening up. As a small country, Liechtenstein uses its inherent advantage of short distances. It is a very agile and innovative country and its fund centre strategy is a successful one.

more: https://www.yumpu.com/en/document/read/65724787/the-xolaris-market-news-n01

___

Follow us on LinkedIn for news and updates or send a message to @xolarisgroup or by e-mail to [email protected] for questions or support.

linktr.ee/xolaris_group

www.xol-group.com | XOLARIS AG | Austrasse 15, 9490 Vaduz

Tel. +423 265 056 0 | Fax +423 265 056 9 | Mail: [email protected]

Press Contact: Zoe Peffer | +49 7531 584 880 | [email protected]