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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.
In 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.
The 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.
After 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 planned to amount to US$50 million and is expected to be approved within the first quarter of 2021, and the second batch of the private fund is planned to amount to US$100 million and is expected to be approved in the second or third quarters of 2021.
Mr. Pishan Chi, Chief Executive Officer and Director of ATIF, commented, "Our team's portfolio investments in 2020 were so successful that we have incorporated asset management into our business model and made it our main business. Next, our team will improve our data analysis and insight into the secondary market and expedite the filing of the asset management qualification, and then we will launch fund products with high yield and high return. The U.S. stock market is the most promising equity market in the world, and we are confident that this new asset management business will bring the Group a steady income from fund management fees and high return performance bonuses. We look forward to generating stable and sustainable income for the Group and our shareholders in the near future."
About ATIF Holdings Limited
Headquartered in Los Angeles, California, ATIF Holdings Limited ("ATIF") is a holding group with asset management, investment holding and media services sectors and provide business consulting services to small and medium-sized enterprises in Asia and North America, including going public consulting services, international business planning and consulting services, and financial media services. ATIF operates an internet-based financial consulting service platform IPOEX.com, which provides prestige membership services including online capital market information, pre-IPO education and matchmaking services between SMEs and financing institutions. ATIF has advised several enterprises in China in their plans to become publicly listed in the U.S. For more information, please visit https://ir.atifchina.com/.
Certain statements made in this release are "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantee of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: future financial and operating results, including revenues, income, expenditures, cash balances and other financial items; ability to manage growth and expansion; current and future economic and political conditions; ability to compete in an industry with low barriers to entry; ability to continue to operate through our VIE structure; ability to obtain additional financing in the future to fund capital expenditures; ability to attract new clients and further enhance brand recognition; ability to hire and retain qualified management personnel and key employees; trends and competition in the financial consulting services industry; a pandemic or epidemic; and other factors listed in the Company's annual report on Form 20-F and other documents filed with the Securities and Exchange Commission. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions you that actual results may differ materially from the anticipated results expressed or implied by the forward-looking statements we make. You should not rely upon forward-looking statements as predictions of future events. Forward-looking statements represent our management's beliefs and assumptions only as of the date such statements are made. These forward-looking statements are made as of the date of this news release.
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SOURCE ATIF Holdings Limited