11 Mar Kubhera Korner: What is SWIFT And Why Is It Important?
Kubhera Korner: What is SWIFT And Why Is It Important?
SWIFT is the acronym for Society for Worldwide Interbank Financial Telecommunications, which is a global collective of financial institutions headquartered in Belgium. It was originally formed in 1973 with 239 banks from 15 countries. Today SWIFT connects more than 11,000 institutions across over 200 countries. SWIFT enables secure messages across the member banks to provide safe communications in order to execute transactions with one another. Roughly 40 million messages are sent on the platform every day. The SWIFT system doesn’t conduct fund transfers, but it is the international communication platform for banks.
What this means:
Removing Russian banks from SWIFT makes them less desirable places to keep money. With Russian banks cut from SWIFT, they can’t securely message other banks to make transactions. We are already seeing a run on Russian banks. It could also make it harder for Russia to pay for their imports and for wealthy Russians to spend their money in foreign countries. The Russian Ruble has hit a record low and has weakened over 20% since mid February. Russia may seek to work around the SWIFT system. Bitcoin along with other cryptocurrencies and Gold have all substantially increased in price over the last two weeks.
Private Equity Highlights:
Tasty Brands II, LP announced on December 22, 2021 they acquired 100% of the business operations and 28 real estate assets of the sixth largest KFC operator, which includes 90 KFC restaurants, including 15 joint KFC and Taco Bell locations. The acquisition builds off the 21 Dunkin locations from the July 2021 acquisition.
Sealy Industrial Partners III, LP provided an operational update for Q4 2021.
Sealy closed three acquisitions of fifteen buildings totaling more than 1.9M square feet of warehouse / distribution space. The buildings are in Kansas City, Kansas, Wichita, and Houston markets. Sealy now owns 30 buildings with over 3.6M square feet with 99.9% in-service occupancy.
Strategic Data Center announced the fund is closing their offering on April 22, 2022. SDC acquired a data center in Denver with 32k+ rentable square feet. The data center is currently 100% leased to a multi-cloud and managed services provider. The tenant has planned a $4 million dollar investment on capital improvements.
Please contact the Kubhera team if you would like to know more about current or future Private Equity offerings and planning.
Tax season has started. Be on the lookout for W-2s, 1099 Interest and Dividend, and K-1s for tax purposes. April 15th is an important date covering the tax filing deadline without extensions, Traditional/SEP/Roth IRA contributions for the prior year, estimated quarterly payments of Q1, and to fund Health Savings Accounts (HSA) for the prior year. Make sure you schedule a meeting with your tax accountant if you haven’t already
Please note our office is receiving delay notices for K-1s from various accountants. Expect K-1s in the middle of March from various investments.
Charity Gift Cards:
An important part of Kubhera’s mission involves giving back to the community through the charities we believe in most. Please help us in this mission. We have chosen to work with https://www.tisbest.org/ to provide 200 $25 gift cards to be donated to charity. Reserve one of the 200 available gift cards to request a free $25 TisBest Charity Gift Card Code through our website. Use the link to donate $25 to a Charity that is meaningful to you.
How does it work?
1. Please, go to our website: www.kubhera.com.
2. Complete the tisbest gift card code request.
3. We will email you a tisbest gift card code link
4. The link will take you directly to www.tisbest.org so you can select your charity of choice
5. Select your charity, and they will receive the donation directly from you!
Please be on the lookout for information about Kubhera’s first Zoom Webinar focused on Roth / IRA planning in late March.
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Your Kubhera Team:
Swamy, Ethan, Ganga, Roman, David, & Carmella
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