PAM Insight Roundtable Discussion: Innovative approaches to thematic investing: navigating the way ahead 23/10/2014 On Wednesday 22 October PAM Insight (publishers of thewealthnet) co-hosted a roundtable discussion with MSCI entitled Innovative approaches to thematic investing: navigating the way ahead. Participants were Mouhammed Choukeir, chief investment officer at Kleinwort Benson; Didier Duret, chief investment officer of ABN Amro Private Banking; Stephen Jones, chief investment officer of Holbein Partners; Guy Monson, managing partner and chief investment officer of Sarasin & Partners; James Sellon, managing partner of Maseco Private Wealth; Eric Verleyen, chief investment officer of SGPB Hambros; as well as Altaf Kassam, head of equity applied research at MSCI; Baer Petit, managing director and global head of index at MSCI; and Roger Urwin, advisory director at MSCI.
Prepare for a classic nineteenth century banking panic 21/10/2014 Pessimism is hardly in short supply in the current environment, notwithstanding the efforts of the UK and US economies to reach “escape velocity”. If markets are forward looking, and the events of the past month or so are not just a transitory blip on the way to a series of new highs, it would appear that more trouble is about to hit the real economy. Deflation, or the threat of deflation, is in the air.
Could insurance companies assume primacy in the UK and other wealth management markets? 20/10/2014 The role of insurance companies, and especially life assurance firms, in the wealth management sector tends to be overlooked. “Wealth management” is often considered to be synonymous with private banking, especially at the top end of the market. As a consequence it is often assumed that banks, rather than insurance companies, have primacy in the sector.
Quilter Cheviot and Old Mutual: Second time lucky for Old Mutual? 17/10/2014 The words “deja vu” should immediately come to mind on first acquaintance with the news that Old Mutual Wealth is to acquire London-based Quilter Cheviot, at least to anyone with a reasonably long memory. For Old Mutual, if not Old Mutual Wealth, is no stranger to the UK wealth management market, especially when it comes to acquiring private client stockbrokers and investment managers at inflated prices.
Market collapse or correction: It's that old but not that familiar October feeling 17/10/2014 October and stock market collapses go together. The Wall Street Crash of 1929 occurred in October when on 28 October (Black Monday) and 29 October (Black Tuesday) the Dow Jones Industrial Average lost 12 percent and 13 percent respectively. On 19 October 1987 (another “Black Monday”) the Dow plunged by 20 percent, an event replicated by major market indices around the world. More recently in 2008 the Dow fell by around 14 percent.
Forget Thomas Piketty: Buy Credit Suisse 16/10/2014 With 577 pages of text and another 108 pages of notes, “contents in detail”, lists of tables and illustrations, and indexes Thomas Piketty’s “Capital in the Twenty-First Century” is a doorstop of a book. It is also deeply flawed. According to a number of critics, including the Financial Times’ Chris Giles and Ferdinando Giugliano (see The Financial Times, 24 May 2014), both its main conclusions and the data sources that underpin them have many shortcomings.