Archive for the ‘Family’ Category
Thursday, November 18th, 2010
Wolfgang Seidel, a keynote speaker at the marcus evans Elite Summit 2010 and Private Wealth Management Summit Fall 2010, explores the upcoming investment opportunities.
Interview with: Dr Wolfgang Seidel, Finance Professor, ESCP Europe Business School
Nicosia, Cyprus, November 18, 2010 – FOR IMMEDIATE RELEASE
Equities and commodities offer very attractive investment opportunities, says Wolfgang Seidel, Finance Professor at ESCP Europe Business School. The performance drivers will be low valuations for equities and above-trend growth for commodities. A keynote speaker at the marcus evans Elite Summit 2010 in Montreux, Switzerland, and Private Wealth Management Summit Fall 2010 in Las Vegas, Nevada, Seidel shares his opinion on the asset classes and sectors that family offices can capitalise on, and why equities and commodities should appeal to long-term investors.
How should family office directors position themselves?
Wolfgang Seidel: With 2010 moving toward its end the macroeconomic situation is highly precarious. Concerns are both, deflation and inflation, the European sovereign debt situation and currency interventions potentially leading to wider capital controls and trade barriers. Short term, I would therefore recommend to stay liquid in order to be able to react fast. Being vigilant and having a plan B in the drawer should help investors to move quickly.
Which asset classes and sectors would you recommend?
Wolfgang Seidel: On a one-year time scale, equities and commodities have good prospects. EU and US equities are highly attractive in terms of both, absolute valuations such as P/Es & P/Bs and relative valuations such as dividend yields against real treasury yields & equity risk premiums. Earnings development and earnings sentiment do also look favourable.
Stock picks should be guided by two themes: Many institutional investors are looking at high dividend stocks to replace part of their low yielding fixed income holdings; and economic growth and valuation multiples are high in EMs, but low in DMs. I would therefore favour companies with high dividends/dividend growth and companies listed in DMs with high sales exposure to EMs.
The demand for commodities is driven by global above-trend growth, particularly in emerging markets, where the commodity-intensity per unit of GDP is higher at the margin. As a consequence, commodities with a high sensitivity for the level of growth such as energy and industry metals are attractive. Additional roll yields are achievable with e.g. copper.
In addition, due to the low level of interest rates and a second round of quantitative easing there is a good case for a continuation of the precious metals surge.
Any untapped investment opportunities?
Wolfgang Seidel: Owing to the strong growth of the world population, limited availability of arable land, change of nutritional habits and abating production yield increases there is a strong macro case for soft commodities. Because of negative roll yields in the commodity futures space this segment has to be addressed through direct farmland investments in highly productive countries with still price-inefficient markets such as Brazil. Key will be to find the right investment managers with local presence and networks.
The same demographic and nutritional factors feed into a much higher future demand for water that will cause significant shortages. Water sources will appreciate substantially in value.
Another area is real assets in the oil and gas space, which seems underserved by dedicated fund managers. There are lots of inefficiencies that need specialised expertise, e.g. depleted oil fields that can get extracted further because a) higher oil price levels allow higher deployment of capex, and/or b) modern technologies allow substantially deeper depletions.
More liquid ideas are underpriced EuroStoxx dividend futures and Argentina GDP warrants.
If you had one message to family offices, what would it be?
Wolfgang Seidel: We won the war but we struggle to sustain the peace. In this uncertain economic environment extraordinary vigilance is indispensable.
Contact: Sarin Kouyoumdjian-Gurunlian, Press Manager, marcus evans, Summits Division
For more information please send an email to Daniela Trojakova at news@marcusevanscy.com or visit the event websites below:
Elite Summit 2010 – Montreux, Switzerland:
http://www.elitesummit.com/media_gtm_ws
Private Wealth Management Summit Fall 2010 – Las Vegas, Nevada:
http://www.privatewealthsummit.com/media_GoingToMeet_ws
About marcus evans Summits
marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, think tanks, seminars and one-to-one business meetings. For more information, please visit www.marcusevans.com
All rights reserved. The above content may be republished or reproduced. Kindly inform us by sending an email to news@marcusevanscy.com
Posted in Capital, Equity, Family, Finance, Funding, Investments | No Comments »
Tuesday, October 12th, 2010
12 October 2010
marcus evans Summits, is pleased to announce Daniel Mateos as the Keynote Speaker at the Elite Summit, on the 15 – 17 November 2010, taking place at the prestigious Fairmont Le Montreux Palace, Montreux, Switzerland.
The Elite Summit addresses the most current wealth management trends and provides attendees with fresh perspectives on adapting effectively to global changes and opportunities to sustain, grow and preserve family wealth. Over three days, a carefully scheduled series of presentations, case studies and one-to-one business meetings will provide you with strategic advice as well as networking opportunities with key decision makers from the most prominent family offices, trusts, foundations and endowments in Europe.
Daniel Mateos, Director of Werner Capital will be presenting on Why Emerging Market Wealth is Invested in Real Estate. Also adding to this year’s cutting edge programme, we have some of leading family office professionals in Europe offering their insight on Strategic Partnerships, Portfolio Safeguarding, Optimal Governance Structures and Growing, Protecting & Transferring Wealth amongst other key issues. Summit Chairman Todd Benjamin, Former Financial Editor, CNN International will be joined by keynote speakers including Constantinos G. Grigoriadis, CIO, Alpanco; Alexander Arnbäck, Manager, Passive Management and Russell Prior, Executive Director, Enterprise & Philanthropy Development, Charities Aid Foundation.
This year’s Elite Summit audience includes Presidents, Chairmen, Chief Executive Officers, Chief Investment Officers, Vice Presidents and Directors of Single-Family Offices, Multi-Family Offices, Trusts, Foundations and Endowments as well as Sponsors offering a wide range of products including Wealth & Asset Management, Integrated Planning, Lifestyle Planning, Legal Services, Insurance and Philanthropic Services.
marcus evans Summits (www.marcusevans.com), produces high level business platforms for the world’s leading decision-makers. These dynamic and innovative forums initiate and develop business relationships one to one between director and C level practitioners from the world’s most influential organisations and with leading product and service suppliers. marcus evans Summits guarantees an exclusive format which enables participants to achieve the maximum amount of business and knowledge interaction over a three day event in a stimulating environment.
Please note that the Elite Summit is a closed business event and the number of participants is limited.
For more information
Daniela Trojakova
Marketing Manager
Tel: +357 22 849 380
Email: summits@marcusevanscy.com
www.elitesummit.com/GTMpr
www.marcusevans.com
Posted in Europe, Family, Finance, Investments, Switzerland | No Comments »
Thursday, March 25th, 2010
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Jean Brunel, a speaker at the marcus evans Elite Summit 2010 considers the most profitable investment opportunities for family offices in Europe.
Interview with: Jean Brunel, Managing Partner, Brunel Associates; Editor, Journal of Wealth Management; Author of Integrated Wealth Management |
FOR IMMEDIATE RELEASE
Creating lasting wealth continues to dominate the agendas offamily office investment officers and directors, but evaluating risks and ensuring investments prove profitable require cautious planning and long-terms strategies. Breaking the portfolio into different components and designing each to meet a goal set by the wealthy client is one strategy that Jean Brunel, Managing Partner at Brunel Associates recommends for safeguarding the family against possible economic nightmares. A speaker at themarcus evans Elite Summit 2010 taking place in Switzerland 26 – 28 May 2010, Brunel shares his thoughts on goal-based based allocation and investing in emerging markets.
What are some of the challenges facing family offices in Europe and what solutions would you recommend?
Jean Brunel: This is the single most challenging investmentenvironment that I have ever seen, and I am not entirely sure that investors today fully appreciate what they are facing. This is not a forecast that markets are about to crash, but an observation that the range of possible outcomes are exceptionally wide. There appears to be a significant gap between perception and reality. Governments are loaded with debt, but it is not obvious to me why countries such as Spain and Portugal are considered to be in a worse shape than the US. How are we going to address the challenges if we are not willing to acknowledge that we are facing any?
Some of our wealthy clients have a more negative investment outlook; I try to make them realise how silly it would be to have their entire wealth in cash, considering the opportunities they could miss and the risk of losing purchasing power. Other families have a more rosy perception; there, I try to give them a more balanced view focusing on the risk.
There have been times in the past several decades when investors were able to have a reasonably clear view of how investments could perform, but we are not in such a situation now. Humility and identifying between when you know something and when you do not, is one of the most important attributes to have. Sir John Templeton once said that he had never seen an investment manager who was right more than 65 per cent of the time; that means that even good investors can be wrong 35 per cent of the time.
What investment strategies would you recommend?
Jean Brunel: We have developed the concept of goal-based allocation whereby the portfolio is broken down into different components so that each piece can be designed to meet one of the family’s goals. This is against the argument that families have only one goal. With this concept, it is easier to put some of the family’s assets into a series of strategies meant to protect the family against economic nightmares, some of it in strategies to provide for lifestyle expenses and some of it focused on long term growth. Having a clear goal for each sub-portfolio makes it easier for families to understand why their portfolio looks the way it does.
I would recommend investors to divide their portfolio into various components and goals. Thus, they recognise that they cannot afford to invest into long-terms strategies in the index managed or actively managed private equities, fund of hedge funds, commodities, bonds, and so on for the sub-portfolios geared to income generation. Though a portion of the portfolio would be for the shorter term, some might well have a longer term orientation. It is important to divide the wealth to help identify where liquidity is needed and where they can afford a long-term strategy.
What are some of the attractive opportunities to invest in?
Jean Brunel: I do not have confidence in any individual investment opportunity, but if I think on a ten to 15 year time frame, there are areas likely to see significant gains. Asia (excluding Japan), parts of Latin America, such as Brazil have learnt that they need to create domestic wealth for their people. Given a longer time frame where any volatility in that period would not be an issue and I could go to an island for ten years without anyone asking me how the portfolio is performing, I think investing in those countries would probably be as good an idea as any.
As these countries develop, we may well also experience a super commodity cycle. The increase in demand and consumption of commodities could well cause prices to go up. If in ten years half of the world goes from poverty to an average standard of living, the demand for commodities will be enormous. The combination of investing in commodities and investing in those countries looks to me as a winning combination.
Contact:
Sarin Kouyoumdjian-Gurunlian
Press Manager
marcus evans, Summits Division
Tel: + 357 22 849 313
Email: press@marcusevanscy.com
About the Elite Summit 2010
This unique forum will take place at the Fairmont Le Montreux Palace, Montreux, Switzerland, 26 – 28 May 2010. Offering much more than any conference, seminar or trade show, this exclusive meeting will bring together esteemed wealth management industry thought leaders and solution providers to a highly focused and interactive networking event. The summit includes presentations on establishing an effective governance framework, tax optimisation strategies, managing risks and maximising investment returns.
For more information please send an email to info@marcusevanscy.com or visit the event website at www.elitesummit.com
Please note that the summit is a closed business event and the number of participants strictly limited.
About marcus evans Summits
marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, think tanks, seminars and one-to-one business meetings. For more information, please visit www.marcusevans.com
All rights reserved. The above content may be republished or reproduced “ kindly inform us by sending an email to press@marcusevanscy.com |
Posted in Europe, Family, Finance, Investments, Switzerland | No Comments »
Thursday, May 1st, 2008
ORASI is proud to announce the 1st ORASI CONGRESS, 16, and 17th May 2008, with the main theme Building Better Families. This theme is a very nowadays concern several international and well-known speakers, from several universities. The subthemes that will be discussed are the following:
1- Vulnerability of affects;
2- Impact of adverse childhood experiences in adulthood;
3- Attachment and development;
4- Drugs and family;
5- Maltreatment prevention and intervention;
6- Education, School and Family;
7- Parents, education and development;
8- Difficult children.
Distinguished as a World Heritage Site by UNESCO, the location of the event city of Oporto – is known by its typical hospitality, natural of its inhabitants, and by the extraordinary landscapes, namely the Douro’s River trajectory, where the elder wine production in the world is made.
The congress will be attended by exhibitors of health and education areas. Thus, the organization offers the enterprises the chance of becoming sponsors of the 1st ORASI’s Congress, giving them the chance of exposing and promoting their
services and/or products (e.g. editors, labs, universities, etc.), either as exhibitors, either in publicity in the Program and Abstracts Guide to be offered to participants.
If you are interested in becoming a sponsor, contact us by e-mail (geral@orasi.pt). Exhibitors space is limited.
Some of our invited speakers are: Robert Neimeyer, PhD, Thomas Sayger, PhD, Arthur Horne, PhD, Timothy Melchert, PhD, Ayse Cifitci, PhD., Joao Salgado, PhD, Rui Nunes, PhD, Ines Jongnelem, PhD, among others that you can check online.
Posted in Announcement, Education, Ethics, Event, Family, Portugal, Press Release | No Comments »
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