PITTSBURGH–(BUSINESS WIRE)–July 9, 2014–
Forever, Inc. announced today that the Forever™ Guarantee Fund achieved strong investment returns of +7.7% in the first half of 2014. The Forever Guarantee Fund was established by Forever, Inc. – the world’s first permanent cloud storage and sharing service – and is the first and only restricted investment fund dedicated exclusively to the permanent preservation of digital property. The money Forever™ Members pay for permanent cloud storage is transferred directly into the Fund which acts as a permanent investment fund, similar to the endowments of major universities like Oxford, Harvard, and Stanford, except the sole purpose of the Forever Guarantee Fund is to pay for the perpetual preservation and sharing of digital media owned by Forever Permanent Members. Over time, the Fund generates income and capital gains which pay for storage, bandwidth and data migration to new file formats. This enables Forever to guarantee it will save and facilitate the sharing of photos (and soon documents and videos) for the lifetime of each Permanent Member plus 100 years — with a goal of centuries beyond.
Glen Meakem, Founder & CEO of Forever, said, “People talk about the need for digital rights and preservation, but Forever is the only company which actually offers consumers a way to capture, organize, and share memories in one safe place, while also permanently endowing the preservation of that digital property, so those memories will be viewed and celebrated now and for generations.” Meakem added that, “Beyond organizing and sharing today’s family memories and stories, Forever is perfect for preserving and remembering the legacies of loved ones.”
The Forever Guarantee Fund is invested according to a proprietary asset allocation formula across domestic and international equities, bonds, commodities and real estate. The Fund is mathematically rebalanced on a periodic basis. According to Meakem, “We have a very long-term mandate from our Permanent Members, so we plan for many possible scenarios and invest systematically with no emotion. Our Fund will not always beat market averages like we did in the first half of 2014, but we are confident we will fulfill our long-term commitments to our Members.”
About Forever, Inc.
FOREVER is the world’s first Permanent Social Storage company. FOREVER is headquartered in Pittsburgh, Pennsylvania and was founded by Glen Meakem, who previously founded the highly succes... All Forever news »