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Opalesque Geneva for New Managers:

Here is a different way of owning stocks coming to you soon: the option of holding just the dividend portion of a stock, independent of its price movements. Or capturing the stock's capital appreciation with no dividend stream attached to it.

This new model offers a focused approach to match individual risk and return preferences. Furthermore, the unbundling is done cheaply and efficiently through blockchain.

The model in question kicked off in January, when a new voting trust investment vehicle (Trust) formed by Permuto Capital filed a registration statement with the Securities and Exchange Commission (SEC).

Permuto Capital LLC - a new joint venture between 3V Capital Partners and Chia Network - will act as the administrator of this first Trust. It will hold shares of common stock of Microsoft Corporation and is expected to start in the coming months.

Each equity will be sold as two distinct certificates: a dividend certificate and an appreciation (or asset) certificate. The former tracks and awards dividend payouts, the latter the price movement of the underlying stock.

The splitting of the economic components of financial instruments is not c......................

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