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Ownership and Management

Berkshire shareholders reject annual succession plan update

May 9, 2012

Berkshire Hathaway investors are happy for succession plans at the company to remain a board secret, despite Warren Buffett’s age and recent prostate cancer diagnosis.

At the company’s annual general meeting at the weekend, shareholders rejected a proposal, tabled by labour union AFL-CIO, for formal annual updates on Berkshire Hathaway’s succession plans.

Read the full story at CampdenFB

Long-term approach paid off for family offices during recession

January 19, 2012

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.

That’s according to new research by American investment advisory firm Cambridge Associates, which surveyed 40 single family offices in the US and Europe in 2011.

India’s HNW wealth grows faster than global wealth

December 15, 2011

The amount of wealth held by high net worth individuals in India has increased faster than that held by rich people globally. That is according to the India Wealth Report, released by Indian wealth management firm Karvy Private Wealth.

The amount of wealth held by high net worth individuals in India has increased faster than that held by rich people globally.

That is according to the India Wealth Report, released by Indian wealth management firm Karvy Private Wealth. It found that while the fortunes of HNW individuals internationally grew by around 9% during the year, money held by Indian rich increased by more than 11%.

This made India one of the fastest-growing HNW populations in the world, accounting for 1.2% of global wealth, said the report.

Swiss wealth managers to lose billions on tax crackdown

November 30, 2011

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.

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.

Wealthy families and family offices should take quick action to clear tax arrears, says expert

November 29, 2011

Ultra-high net worth families and family offices in the UK need to move quickly and clear up their tax arrears to benefit from the Liechtenstein Disclosure Facility, according to an expert in international taxation.

“If families are not dealing with clearing [undisclosed assets], they are not doing the next generation any favours. The LDF is a way to change that at a time when passing on wealth is a challenge,” Philip Marcovici, a member of the board of wealth manager Kaiser Partner and a former partner at law firm Baker & McKenzie, told CampdenFO.

Risk is top concern for family offices

November 22, 2011

Risk management is of top priority for family offices in Europe, as they look to make the best of the uncertain global market environment, finds a new report by Campden Research.

Entitled Beyond Uncertainty: Family Offices Adapt to Unpredictability, the survey, which analysed more than 50 single and multi family offices across Europe and was sponsored by UBS, found that family offices are increasingly outsourcing risk functions to better deal with monitoring the safety of their investments.

Charles-Lim Capital

October 19, 2011

CLC is an independent investment firm based in Asia, employing a value and quality philosophy in investing in listed equity securities in Asia for the long-term.

Wealth Funds for the Long Term. Investing in Tomorrow’s Asia.

Family offices outsource CIO function as exposure to hedge funds rise

September 1, 2011

Family offices are increasingly outsourcing the function of the chief investment officer, as they aim to monitor more efficiently their growing focus on hedge funds, according to a top investment expert.

Riots, the rich and London

August 11, 2011

One UK newspaper during the recent riots in London produced an interactive map of where all the rioting and disorder was taking place in the British capital. At first glance the map looked pretty scary – dots highlighting trouble were almost everywhere. With the Olympics less than a year away, it’s not an image the tourist authorities, nor for that matter the politicians, want to think too much about.

One UK newspaper during the recent riots in London produced an interactive map of where all the rioting and disorder was taking place in the British capital.

At first glance the map looked pretty scary – dots highlighting trouble were almost everywhere. With the Olympics less than a year away, it’s not an image the tourist authorities, nor for that matter the politicians, want to think too much about.

Coutts targets next generation with Wharton initiative

July 4, 2011

UK private bank Coutts & Co has enlisted NASA astronauts to help launch an educational programme for next generation clients, with the aim of teaching them to better manage wealth and develop business acumen.

The main wealth management arm of the Royal Bank of Scotland announced on 4 July that it has conducted the first week-long programme in London, in partnership with the Wharton School of the University of Pennsylvania, as part of its initiative to provide wealth management advice and opportunities for its next generation clients.