A note on the Watchtowers property investments

by Saintbertholdt 17 Replies latest watchtower scandals

• 

  JWdaughter

  never mind:)
  
  
• 

  respectful_observer

  I also agree with Millie's math. The only caveat is that that is based on the total assets of the fund today, in 2015. The SEC filing that lists the WTB&TS as a 7%+ shareholder is from 2004, over 10 years ago. I'm sure someone with Bloomberg access could look up to see what the value of the fund was back then. Also, note that at least some share classes list a Share Class Inception Date of 02/19/2005, once again after the 2004 filing we have.

  Needless to say, the WTB&TS's 7% stake was no doubt a large amount, but basing in on the fund's assets today is rather arbitrary.
• 

  millie210

  respectful observer...so what you are saying is that they lost BIG and have no where near that now.

  So does this help account for why they want the kids ice cream money?

  The pedophilia scandal and the accompanying payouts are relatively new. So there has to be something to account for the panic they are showing when they hit up Mexico for more money, right?

  Orphan - The above is a copy/paste from JW Archive by a guy who is (I believe) secretly working from within. He is the owner and goes by the nic "The Librarian"

  Sorry for the confusion.
• 

  maksutov

  Here is the relevant section that mentions that 7% figure:

  JPMORGANLIQUID ASSETS MONEY MARKET FUND	INSTITUTIONAL	WATCHTOWERBIBLE & TRACT SOCIETY OF PENNSYLVANIA ATTNTREASURERS OFFICE DOMESTIC CASH MANAGEMENT 25COLUMBIA HTS BROOKLYNNY 11201-1300	Record	7.337%
  JPMORGANLIQUID ASSETS MONEY MARKET FUND	INSTITUTIONAL	JPMORGAN TRUST CO NA PAUL G ALLEN—COLLATERAL ACCOUNT ATTN FUND OPERATIONS 3/OPS3 500 STANTON CHRISTIANA ROAD NEWARK DE 19713-2107	Record	7.229%
  JPMORGANLIQUID ASSETS MONEY MARKET FUND	INSTITUTIONAL	AGILENTTECHNOLOGIES ATTNTREASURY ACCOUNTING DEPT PLOT NO90 D SECTOR 18 UDYOGVIHAR GURGAON122015 HARRYANAINDIA	Record	6.020%
  JPMORGANLIQUID ASSETS MONEY MARKET FUND	INSTITUTIONAL	SPRINTCORP ATTNKSOPHF0302-3B372 SUP CASH OPS 6200SPRINT PKWY OVERLANDPARK KS 66251-6117	Record	5.516%
  JPMORGANLIQUID ASSETS MONEY MARKET FUND	AGENCY	JPMORGAN INVESTOR SERVICES CASH MGMT INVESTMENT SUPPORT ATTN CASH SWEEP OPERATIONS 14221 DALLAS PARKWAY 2JIP 6TH FL DALLAS TX 75254-2942	Record	40.207%
  JPMORGANLIQUID ASSETS MONEY MARKET FUND	AGENCY	JPMORGANINVESTOR SERVICES CASH MGMT INVESTMENT SUPPORT ATTNCASH SWEEP OPERATIONS 14221DALLAS PARKWAY 2JIP 6TH FL DALLASTX 75254-2942	Record	35.324%
  JPMORGANLIQUID ASSETS MONEY MARKET FUND	AGENCY	STROOCKSTROOCK & LAVAN LLP 180MAIDEN LANE NEWYORK NY 10038-4925	Record	8.384%
  JPMORGANLIQUID ASSETS MONEY MARKET FUND	PREMIER	JPMORGANINSTITUTIONAL TRUST SERVICES FBOVARIOUS TRUSTS ATTNVIRGINIA DELGADO 2001BRYAN TOWER 11TH FLOOR DALLASTX 75254	Record	58.756%

  
  

  But if you add up all those percentages, it comes to way more than 100%. So I am guessing it does not mean that each of those parties owns that percentage of the fund. I have no idea what it does mean though!
  
  
• 

  respectful_observer

  respectful observer...so what you are saying is that they lost BIG and have no where near that now.

  @millie210: Not all. In fact money market funds are considered one of the safest, most stable investments. The whole purpose of a money market fund is to basically stay completely stable (e.g., the goal of the fund's portfolio manager is to keep the value of 1 share as close to $1 as possible at all times). You would never buy shares of a money market fund if you wanted any profit at all. Corporations and large investors will often stash large amounts of cash in a money market fund for easy access for when they need it. In fact, even in the depths of the financial crisis, only a single money market fund was affected to the point where the value of 1 of its shares dropped below $1. When that happens it's called "breaking the buck".

  If the WTB&TS is no longer listed on this fund's SEC filings, it's only because of these reasons:

  1. The WTB&TS no longer owns any shares of the fund (and likely invests in other money market funds)

  2. The WTB&TS has reduced the number of shares it owns in that particular fund. (Funds are required to report to the public/SEC when they have shareholders who own over a certain % of the fund. That way investors are forewarned that if one or more of the big shareholders decided to leave the fund at once, there could be a liquidity issue in the fund.)

  3. The number of shares of the fund owned by the WTB&TS has not changed, but the fund itself has grown in size since 2014, where the % of the fund own by the WTB&TS is now below the reporting limit requirement of the fund.

  But if you add up all those percentages, it comes to way more than 100%. So I am guessing it does not mean that each of those parties owns that percentage of the fund. I have no idea what it does mean though!

  @matsutov: if you look at the second column, you'll see that there are different "share classes" (i.e., institutional, agency, premier). The ownership % likely is tied to what % of that share class the investor owns.

  That being said, the WTB&TS's 7%+ ownership is likely of the institutional shares only, not of the entire fund itself. So the WT ownership values we were discussing earlier are probably way bigger than the WT's true ownership value.
• 

  Mad Irishman

  Do you know how funds work? There are thousands of investors and if that fund makes a 2% or 3% or a gaudy 10% each investor gets a small percentage of a profit. It's like a high-end CD.

  I fail to see the story here on this one?
• 

  Saintbertholdt

  I fail to see the story here on this one?
  

  The story is that in the original thread nothing could be picked up on Provictor fund IV. Provictor is a very secretive company and is actually German owned.

  The Watchtower probably got the Provictor shares through someone bequeathing it in a will. They did not receive a lot of money but the REAL story is that the WTBTS of NY then had to file a 990T form to declare the profit when the Chrysler building shares sale went through.

  The 990T is very enlightening.
• 

  mana11

  Since the watchtower is a CLOSED BOOK as to Real investment, any and all links to assests , investments and hedge funds are very interesting.

  Remember they are supposed to be no part of this world as are all jehovahs witnesses.

  This information is great thanks for sharing it...