Business
ATIF Holdings Limited Launches Asset Management As Main Business, Achieves Rates Of Return of 64.77% On Securities Investments In 2020
LOS ANGELES, Calif., Jan. 6, 2021 /PRNewswire/ -- ATIF Holdings Limited (Nasdaq: ATIF, the "Group", "ATIF" or "we"), a company providing business consulting
About this update from Atif Holdings Limited
[{"type":"text","content":"LOS ANGELES, Calif., Jan. 6, 2021 /PRNewswire/ -- ATIF Holdings Limited (Nasdaq: ATIF, the \"Group\", \"ATIF\" or \"we\"), a company providing business consulting and media services in Asia and North America, plans to fully launch its asset management business in the first quarter of 2021, which is expected to generate stable and sustainable high returns for the Group in the future.\nIn January 2021, ATIF officially relocated its operational headquarters to California, USA, and launched new business model covering three major sectors: asset management, investment holding and media services. Among the three sectors, asset management is the new main business of the Group, and it is anticipated to provide equity investments and investment advisory services in the U.S. stock market in 2021.\nThe Group's asset management team has launched its initial venture into equity investments in January 2021 and has brought ideal results to the Group. The asset management team has adopted a unique \"liquidity + volatility\" short-term trading strategy, focusing on U.S. Chinese-listed American Depositary Receipts (ADRs) and large-cap quality U.S. stocks, with holding periods ranging from a few hours to a few days. This investment strategy is designed to provide investors with daily liquidity and is an ideal platform for liquidity management. According to Report of Performance Review issued by Spaulding Group, Inc, during the period of January 2 and November 30, 2020 the asset management team has achieved rates of return (ROR) of -6.80%, 21.19%, and 9.08% in the first, second, and third quarters of 2020, respectively, and reached 34.28% in October and November of the fourth quarter, cumulatively generating a high ROR of 64.77% for the first 11 months of 2020. Currently, the Group is applying for the asset management qualification with the Financial Industry Regulatory Authority (FINRA) and expects to complete the qualification filing in January 2021. \nAfter obtaining the qualification of the asset management, the Group plans to establish a private fund to provide equity investments and investment advisory services in the U.S. stock market. Currently, the Group is in the process of submitting application documents to the U.S. Securities and Exchange Commission (SEC) for the establishment of a private fund. The first batch of the private fund is p...