On January 2 this year, Dalibor Martinis
put a sum of money equivalent to 365 shares into the
ZB Trend Investment Fund. Since on this day the price
of one share in the ZB Trend was 102.22 euros, the amount
invested equals 37,310.3 euros. The money was invested
with an investment term of one year, i.e., 365 days,
and constitutes the funds of the Man (Money/Art/Nature)
Foundation.
The ZB Trend Investment Fund is managed by ZB Invest,
the Zagrebacka banka owned company for the management
of investment funds. Zagrebacka banka d.d. carries out
deposit bank operations for the funds of ZB Invest.
PricewaterhouseCoopers d.o.o. has been appointed auditor
of the investment funds managed by ZB Invest.
While the project is in progress, the artist/investor
will go once a month up into the hills to hike the amplitudes
that are shown by the worth of the investment for the
current month. The appropriate altitudes will be measured
with an altimeter. Thus the artist/investor will experience
the changes in the value of his investment both financially
and physically, and through movement in the natural
landscape will reproduce the landscape of variable financial
risk (the rise of the curve of the graph representing
financial gain but at the same time physical loss, i.e.,
the additional physical effort, while fall in the value
of the investment will entail a financial loss, but
a physical gain, i.e., rest)
A Web site has been opened up to follow the course of
the project in the physical and financial landscape
with constantly updated information about the current
worth of the investment and other financial indicators,
such as changes in exchange rates and so on. An online
computer and LCD monitor have been set up in the Museum
of Contemporary Art in Zagreb. The artist/investor will
display project documentation in the context of artistic
exhibitions and events.
At the end of the year the difference in the value of
the investment 365 days after the investment will be
determined, i.e., any profit there might be per share.
Photographic and video documentation of the whole project
will be on display. A large wall calendar for the past
year, 2004, will be issued, which will monitor the artist’s
perambulations in the hills (photographic documentation),
and the movement of the value of the shares in the investment
fund. Zagreb’s Museum of Contemporary Art will mount
the event of the closure of the project, in which the
residue of the whole annual profit after the costs of
the project have been met will be spent by the division
of the sum among all the spectators present at the closing
event (the amount of the profit to be divided by the
number of those attending). If the project makes a loss
(either because of the unexpected fall in the value
of the shares or because of costs higher than those
planned), this will be debited to the artist/investor.
The selling price of the work Variable Risk Landscape
by Dalibor Martinis corresponds to the value in euros
of 365 shares in the ZB investment fund on the day of
the sale.
The Man Foundation will seek additional resources for
the Variable Risk Landscape and encourage donations
and sponsorships. The Man Foundation will keep books
and cover the costs of the project. All security is
provided by the founder. The Man is totally dedicated
to matters concerning the Variable Risk Landscape Project
and will carry out no kind of transactions apart from
these. After the closure of the project, the Man Foundation
will go out of business.
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