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Asset Management

March 1, 2013

The families behind a number of high-profile businesses have reorganised their shares recently, with the Fords transferring stock to family trusts and Rupert Murdoch selling some of his voting shares at News Corp.

The families behind a number of high-profile businesses have reorganised their shares recently, with the Fords transferring stock to family trusts and Rupert Murdoch selling some of his voting shares at News Corp. Meanwhile, the Piech family has gifted Volkswagen employees some of its voting rights.

Ford
Bill Ford, fourth-gen executive chairman of the eponymous carmaker, has transferred some of his class B voting stock into trusts set up for his children for estate and planning purposes.

February 21, 2013

"Should I stay or should I go?" asked The Clash. It’s a question that arises for all next-gens sooner or later, at least when it comes to the people they employ to advise them about investing their money. The evidence suggests that many incline to "go".

"Should I stay or should I go?" asked The Clash. It’s a question that arises for all next-gens sooner or later, at least when it comes to the people they employ to advise them about investing their money. The evidence suggests that many incline to "go".

A recent report published by Campden Wealth and Morgan Stanley found that 62% of the next-generation members in major family businesses are considering changing their bankers in the next two years, compared to just 25% of the older generation in those businesses.

January 18, 2013

Many business owners in the UK are driven by short-term priorities like selling the company to make money and do not pay enough attention to longer-term strategic objectives, according to a new report.

Many business owners in the UK are driven by short-term priorities like selling the company to make money and do not pay enough attention to longer-term strategic objectives, according to a new report.

Research carried out by the Economist Intelligence Unit for Ernst & Young found that as many as 85% of business owners in the UK plan to accelerate their divestment plan over the next two years. Of the total, 32% of UK corporations are in the process of, or are planning to divest in the next two years.

December 14, 2012

External asset advisers are benefiting from a growing distrust among wealthy families in big banks, according to a director at financial research firm Cerulli Associates.

External asset advisers are benefiting from a growing distrust among wealthy families in big banks, according to a director at financial research firm Cerulli Associates.



Following the 2008/2009 financial crisis, Bing Waldert reckons the wealthy are increasingly using multi family offices to manage their money – and MFOs in turn are making use of external asset advisers. 
 

December 14, 2012

The nomadic lifestyle of the modern high net worth individual is one of the biggest influences on their investment and charitable giving patterns, according to research by the wealth management division of Royal Bank of Canada and the Economist Intelligence Unit.

The nomadic lifestyle of the modern high net worth individual is one of the biggest influences on their investment and charitable giving patterns, according to research by the wealth management division of Royal Bank of Canada and the Economist Intelligence Unit.

November 29, 2012

The family office of Theophilus Danjuma – one of Africa’s wealthiest individuals – comes with plenty of compliance headaches. Campden speaks to its principal about investing – and why he wants more regulation. 

The Danjumas are not your ordinary wealthy family. Whenever their family office wants to work with a new bank, its chief executive Geoffroy Dedieu sends over “at least” two arch-level files of information on the family. And that’s just to do the “smell test”, before due diligence is even considered. Then, so long as the smell test is okay, it’ll take another four to six months before the relationship finally gets off the ground.

November 22, 2012

Two swallows do not necessarily make a summer, but US banks JP Morgan and Wells Fargo are chirpy over prospects for the US housing market. Both reported a surge in mortgage lending in the quarter to September. JP Morgan’s Jamie Dimon said: “We believe the housing market has turned a corner.”

Two swallows do not necessarily make a summer, but US banks JP Morgan and Wells Fargo are chirpy over prospects for the US housing market. Both reported a surge in mortgage lending in the quarter to September. JP Morgan’s Jamie Dimon said: “We believe the housing market has turned a corner.”

This follows the Federal Reserve’s decision to print new dollar bills worth $40 billion (€30.5 billion), once a month, and use them to buy mortgage debt from the banks. In theory, this will encourage them to make new loans and juice the US economy.

September 20, 2012

To be sure, yields on high yield bonds – or junk, as it was once called – look less enticing than the 15% on offer three years ago. But those yields reflected fears that the global banking system was close to collapse. These have now receded, making high yield safer.

Five years after the run on the UK bank Northern Rock, companies lacking blue chip status are struggling to extract loans from banks more interested in their own survival than backing expansion.

As a result, companies are turning to the capital markets to secure loans from wealthy investors and institutions. They are paying interest charges of between 5.5% and 7% - a fat premium to the nearly zero return on savings accounts and government bonds.

August 29, 2012

The UK’s financial services regulator is cracking down on the country's wealth management firms, following revelations of “significant widespread failings” within the sector.

The UK’s financial services regulator is cracking down on the country's wealth management firms, following revelations of “significant widespread failings” within the sector.

The Financial Services Authority is to interview wealth managers as part of its investigation, after finding problems with record keeping and the suitability of advice given by some advisers to clients.

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