FO News
Investment opportunities are increasing in India, as the country’s “consuming middle class” is growing rapidly, according to a family office manager.
L Capital, the investment vehicle of LVMH and Groupe Arnault, has acquired a 10% stake in Chinese fashion company Trendy International Group in a deal reportedly worth $200 million ($152 million).
The UK is proving popular with global millionaires, with new figures showing there has been a six-fold increase in the number of wealthy individuals getting investor visas in Britain.
Hong Kong banking group Stanhill Capital Partners has acquired a majority stake in Sovereign Gold, an investment firm specialising in British sovereign gold coinage, as demand for the precious metal confirms to be strong. Stanhill declined to disclose the value of the deal.
Extending the deadline to disclose assets held in Liechtenstein is an “important development” for British ultra-high net worth families, but it will be “dangerous to wait” to come clean about tax arrears.
American family foundations granted an additional 1.1% to causes in 2010, but the total given still lagged behind pre-recession levels, according to a study by research organisation the Foundation Center.
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