Arguing that a complete report on the financial situation of the companies owning the development was not presented, the Costa Rican Tourism Institute decided to cancel the concession of the Monte del Barco project, in the Papagayo Tourist Pole.
Aldesa Fondos de Inversión reported that Inversiones Monte del Barco S.A. and Inversiones GODA S.A., companies owning the tourism development, were notified last July 4th, but the concessionary companies will proceed to file in time and form, the appeal for replacement or revocation before the Board of Directors of the Costa Rican Tourism Institute.
The continuous acquisition of real estate and the diversification in the type of infrastructure invested, are the reasons for the growth of real estate funds, which monopolize nearly 40% of the industry's assets.
According to data from the General Superintendence of Securities (Sugeval), the proportion of real estate funds concentrated in the market has been growing for years, since in November 2013 they represented 29% of the industry and in the same of 2018 it rose to 41%.
Grupo Prival has received authorization to operate an investment fund management company in the local market.
The Superintendency of Securities has authorized Grupo Prival to open a fund company, and it has a term of a year in which to register at least one investment fund.
The private equity fund Caseif III managed by Lafise LP has announced the acquisition of a factory making aseptic banana puree and concentrate frozen banana, called Gerber Ingredients.
The Gerber Ingredients factory is located in the Industrial Park in Cartago. According to El Financiero, the transaction is in the final stage of formalization and evaluation by the Government.
Managers from investment funds and pension in Central America will be meeting in Panama City on August 19th.
Marielena García Maritano, president of the Panamanian Chamber of Managers of Mutual Funds and Pension Funds (Casip) told Capital.com.pa that the purpose of the event is "...
The Development Bank of Latin America has provided a loan of $300 million to the Spanish Official Credit Institute for promoting business development between Spain and Latin America.
From a press release issued by the Development Bank of Latin America (CAF):
The proposal to finance small enterprises using venture capital remains stalled.
Since last year, authorities have been analyzing financial market regulations that support the creation of the framework and its use for small businesses.
The delay, they say, is because they want to analyze every aspect of it, especially with regard to the risks, believing it could its use could become popularised among investors that do not meet the profile.
A special Fitch report on the status of the country's financial funds industry.
In Fitch's opinion the Costa Rican financial investment funds (FIF) industry displays a constant need to reorganize its portfolios in order to remain in the market as an alternative investment option.
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