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Asset Management

Long-term approach paid off for family offices during recession

Single family offices in the US and Europe were largely well prepared to ride out the financial crisis of 2008 and the subsequent difficult market environment, making very few strategic changes to their asset allocation.

Rashmi Kumar

Single family offices in the US and Europe were largely well prepared to ride out the financial crisis of 2008 and the subsequent difficult market environment, making very few strategic changes to their asset allocation.

Wealthy don’t share goals with financial advisers
Wealthy people are failing to make their financial advisers fully aware of their goals, leaving them at risk of incomplete or ineffective advice, new research shows.

Attracta Mooney

Wealthy people are failing to make their financial advisers fully aware of their goals, leaving them at risk of incomplete or ineffective advice, new research shows. 

Swiss wealth managers to lose billions on tax crackdown

Banks in Switzerland could lose as much as CHF50 billion (€40.7 billion) in assets under management as a result of a tax crackdown by the UK and Germany, says a new study.

Rashmi Kumar

Banks in Switzerland could lose as much as CHF50 billion (€40.7 billion) in assets under management as a result of a tax crackdown by the UK and Germany, says a new study. According to management consulting firm Booz & Co, wealth managers in Switzerland will also lose CHF1.1 billion in revenues, as clients with the two European countries withdraw their money before the tax treaties come into effect in 2013.

Family office failed to adequately diversify portfolio, say lawyers
A US-based family office has been accused of breaching its fiduciary duty by allegedly failing to adequately diversify a client’s portfolio and by misrepresenting the performance of hedge funds.

Attracta Mooney

A US-based family office has been accused of breaching its fiduciary duty by allegedly failing to adequately diversify a client’s portfolio and by misrepresenting the performance of hedge funds.

Renminbi is not for the opportunistic market, banker
Family offices that are considering adding the renminbi to their portfolio need to see it as a long-term investment, rather than a chance to make a quick buck, according to a banker.

Attracta Mooney

Family offices that are considering adding the renminbi to their portfolio need to see it as a long-term investment, rather than a chance to make a quick buck, according to a banker.

UBS wealth division’s asset base falls by 3.7% during third quarter
UBS’s assets under management in the wealth division excluding the Americas fell by 3.7% in the third quarter of 2011, but the bank also reported forecast-beating net profits during the same period.

Giulia Cambieri

UBS’s assets under management in the wealth division excluding the Americas fell by 3.7% in the third quarter of 2011, but the bank also reported forecast-beating net profits during the same period.