Archive for the ‘Funding’ Category

Graymatter STRATEGIES, LCC: Family Dynamics in Private Wealth Management

Monday, February 28th, 2011

Lisa Gray, a keynote speaker at the marcus evans Elite Summit 2011, discusses the role that family dynamics play in private wealth management.

Interview with: Lisa Gray, Founder & Managing Member, graymatter STRATEGIES, LLC.
Montreux, Switzerland, February 28, 2011 – FOR IMMEDIATE RELEASE

The biggest risks to family wealth emanate from the family itself. Market risks pale in comparison to the role that family dynamics can play,” says Lisa Gray, Founder & Managing Member, graymatter STRATEGIES, LLC. A keynote speaker at the marcus evans Elite Summit 2011 in Montreux, Switzerland, 25 – 27 May, the author of “The New Family Office: Innovative Strategies for Consulting to the Affluent” and “Generational Wealth Management: A Guide for Fostering Global Family Wealth” talks about family dynamics, and generational and behavioural biases.

What is missing in private wealth management today?

Lisa Gray: Family dynamics have a direct impact on the conversations taking place between family members and their advisors. However, nobody seems to recognise this. For advisors to be truly effective today, they must broaden the scope of their thinking in defining excellence in client service.

What are the key concepts discussed in your books? What can the industry gain from your experience?

Lisa Gray: My first book chronicled the history of the family office industry and introduced the issues of family dynamics and the misunderstandings that different generational perspectives create among family members. In my second book, I explore these issues much more deeply and show how they fit into the wealth management continuum.

Generational perspectives influence all of our decisions. Family members’ perceptions are skewed by their individual generational biases. Families often overlook talents and abilities of family members who feel they do not have a voice in family decisions. As a result, intellectual, human, and social assets which could contribute significantly to the family wealth may never be discovered and thus, never materialised.

The real benefit of a consultant is in guiding the family toward solutions which truly fit their needs. Family offices often become overly focused on the investment component and may not realise that the reason they exist is to support families in developing communication and trust between members. That is where the real power of their work lies; their processes should support families’ goals and needs.

Even when they have been appropriately identified, family goals often get lost in the translation to the investment piece. Behavioural biases also skew the translation of the family’s goals. Behavioural finance can be a wonderful tool in aligning asset allocation more directly with the family’s needs.

What investment strategies would you recommend?

Lisa Gray: I would caution people to broaden their consideration of risks. There are three levels of risk: market risks, what all investors go through; the risk of increased regulation, which will change how they do things and increase their costs; and the biggest risk to family wealth, the family itself.

Families and advisors should recognise the deeper sources of risk to the wealth. Family issues often seem to come out of the blue, but in fact the signs were there all along.

Does the issue of family dynamics actually limit investment advisors?

Lisa Gray: I would say the opposite. It makes their work much easier. Awareness of what influences family decisions frees advisors to partner with the family in the decision-making process.

Any final thoughts?

Lisa Gray: Advisors often seem reticent to approach the psychological issues of wealth management but today, they truly have no choice. Not only are markets psychologically based but investors’ responses to markets are also psychological. Behavioural finance, which is becoming increasingly woven into the world of wealth management, is based on the psychological biases of investors. So it is not a stretch to say that an awareness of generational perspectives and family dynamics should be included as a component of the advisory client service spectrum.

Contact: Sarin Kouyoumdjian-Gurunlian, Press Manager, marcus evans, Summits Division

About the Elite Summit 2011

This unique forum will take place at the Fairmont Le Montreux Palace, Montreux, Switzerland, 25 – 27 May 2011. 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 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.

For more information please send an email to summits@marcusevanscy.com or visit the event website at www.elitesummit.com/media_GTM_lg

marcus evans group – investment sector portal

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

Dr Wolfgang Seidel: The Allure of Equities and Commodities

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

Prosperity Capital Management on Russia as an Investment Hot Spot

Thursday, October 14th, 2010

Liam Halligan from Prosperity Capital Management Ltd, shares his views on why Russia is a top investment destination.

Interview with: Liam Halligan, Chief Economist, Prosperity Capital Management Ltd

Nicosia, Cyprus, October 5, 2010 – FOR IMMEDIATE RELEASE

Russia is an incredible combination of extremely low valuations, massive returns and the prospect of ongoing good returns, highlights Liam Halligan, Chief Economist at Prosperity Capital Management Ltd. There are not that many markets which offer investors all three. From an asset management firm sponsoring the marcus evans Elite Summit 2010, Nordic Pensions & Investments Summit 2010, Investment Consultants Summit 2011 and European Pensions & Investments Summit 2011, Halligan uncovers why family offices should consider investing in Russia and which assets could provide real value to them.

Why do you recommend investing in Russia?

Liam Halligan: Russia is a seriously underrated investment destination. Even though there are risks to investing there, they are very much reflected in the prices. We have been focusing on Russia since 1996, where in this period, our main fund returned an average of 23 per cent in dollars annually. Our special situations fund, which launched in 1999, has returned 43 per cent a year. This was the best performing fund in the world in any asset class over that period of time. Both are open ended funds which have maintained liquidity respectively, on weekly and monthly terms.

Instead of relying on general cliches which have been presented by the Western media, sometimes investors have to make up their own minds about where is a good place to invest and where is not.

What makes Russia so special?

Liam Halligan: There is an incredible combination of extremely low valuations, massive returns and the prospect of ongoing good returns. Russia is currently trading at seven and a half times its earnings, which is the lowest of any major stock market in the world and yet over the last 10 years, it has been the best performing market in the world. Even in 2009 when the economy contracted the market went up by 129 per cent.

That is what makes Russia special. It is a very resource rich country, not only in hydrocarbons, but also in terms of human capital, talent and education, yet considered less developed than some emerging markets. A great deal has changed in Russia in the last 20 years but Western investors have not yet woken up to that.

Where does the real value in Russian investments lie?

Liam Halligan: The real value lies on the second and third tiers, amongst companies that are restructuring in sectors that are consolidating.

Russia is emerging as a major retail market and will soon be the largest in Europe. We like Russia’s domestic power sector. Their electricity market is the fourth largest in the world. We believe that this sector will continue to be a source of significant gains and is a good way of gaining exposure to domestic growth.

While the Western world continues to stumble and register at best only sluggish growth, emerging markets will continue to surge, with Russia central to that growth; they will need energy as they go through an industrialization phase.

What long-term investment strategies would you recommend?

Liam Halligan: My message to Chief Investment Officers and family office directors would be: Get into investments that governments cannot print more of. The only way some of the old industrialized economies can get out of their debts will be by inflating their currency. The Western world is going to be inflating away its debt and de-leveraging. Long-term investors should be looking at low leverage countries with low debts, where companies and consumers have little debt and there are lots of tangible assets. A country that really stands out under both of those headings is Russia.

Contact: Sarin Kouyoumdjian-Gurunlian, Press Manager, marcus evans, Summits Division

Tel: + 357 22 849 313
Email: news@marcusevanscy.com

For more information please visit the event websites below:

Elite Summit 2010: http://www.elitesummit.com/media_GTM_lh
Nordic Pensions & Investments Summit 2010: http://www.nordicpensions-summit.com/media_GTM_lh
Investment Consultants Summit 2011:

http://www.investmentconsultantseurope.com/media_GTM_lh

European Pensions & Investments Summit 2011: http://www.epi-summit.com/media_GTM_lh

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

About Prosperity Capital Management Ltd

PCM is the world’s largest Russia-focused asset manager with $4.5bn AUM. All the money we manage derives from outside Russia and our clients include family offices, private banks and sovereign wealth funds.

www.prosperitycapital.com

Leading Family Office Professionals to Attend the Elite Summit 2010, hosted by marcus evans Summits

Monday, March 22nd, 2010

marcus evans is pleased to announce the Elite Summit taking place 26-28 June 2010 at the Fairmont Le Montreux Palace, Montreux, Switzerland.

Preserving wealth even in the most turbulent of financial markets continues to top the priority list of family offices and their investment arms. Mastering the principal drivers of returns, fund selection and asset allocation, holds the key to ultimate portfolio performance. The exclusive Elite Summit brings together investment strategists from prominent family offices, trusts, foundations and endowments with leading asset managers and wealth management professionals to explore lucrative investment potential.

The Elite Summit 2010 offers attendees the perfect opportunity to network with the key decision makers from the most prominent family offices, trusts, foundations and endowments in Europe. A series of insightful keynote presentations and case studies will be delivered by the gate keepers of family wealth. The luxurious settings and conference facilities of the Fairmont Le Montreux Palace in conjunction with an abundance of networking opportunities throughout this exclusive event will provide a unique forum to exchange knowledge and ideas and develop meaningful business relations.

At the Elite Summit, attendees will follow a personalised agenda designed to maximize their limited time and to effectively meet their business needs and interests. The speakers include: Jeffrey R Lewis, President,Heinz Family Philanthropies; William Drake, Director & Co-Founder, Lord North Street;Daniel de Fernando, Founding & Managing Partner, MdF Achievers and Juan Jesus Gomez Cubillo, Family Office Director, Tressis.

For More Information Please Contact:

Kirsten Helders
+357 22 849 378
summits@marcusevanscy.com

http://www.elitesummit.com/GTMpr

www.marcusevans.com