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Julie Neitzel has joined W.E. Family Offices as a partner, the project led by Santiago Ulloa and Maria Elena Lagomasino.
According to the Miami Herald, in this position, she will focus on building and managing family wealth enterprise relationships.
Before joining the company, she served in several leadership roles at GenSpring Family Offices for 10 years.
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International investment manager Henderson Global Investors has launched the Henderson High Yield Opportunities Fund (HYOAX, HYOCX, HYOIX), a mutual fund that seeks to obtain total return and current income by investing in high-yield bonds and select investment grade fixed-income securities.
The Fund will be managed by Henderson’s six-member US credit team, headed up by Kevin Loome. The team joined Henderson in February this year from Delaware Investments and this is the first fund to be developed for them. The team utilizes a fundamental credit research process and leverages a bottom-up security selection approach – emphasizing cash flow projections, total return potential and liquidity analysis – to create a diversified and focused portfolio of between 50 and 100 holdings.
While the Fund primarily invests in high-yield corporate bonds, up to 20 percent of the portfolio’s assets may be allocated to fixed- income securities rated investment grade. Those securities include US and non-US government securities, collateralized bond obligations and corporate bonds, with much as 25 percent of the Fund’s net assets invested in securities from foreign issuers.
“The combination of our investment approach, underpinned by fundamental and proprietary credit research, and our global team’s close collaboration allow us to construct a focused ‘best ideas’ portfolio of high-yield bonds and select investment-grade securities from issuers all over the world,” said Kevin Loome, Henderson’s Head of US Credit and the Fund’s Portfolio Manager. “At a time when interest rates are hovering at historic lows, Henderson is offering investors access to the most attractive high-yield securities from across the globe.”
Chuck Thompson, Director of US Retail, added, “This fund is a key addition to our fixed income fund line-up as it completes the credit spectrum and reinforces our dedication to provide our clients with products that are both global and truly differentiated. Henderson is now recognized as a global leader in both equities and fixed-income with an experienced credit team managing over $27bn in assets1”.
Advisors and investors can access more information about the Fund through the Henderson Global Funds interactive iPad app, which was launched earlier this year. It offers a deeper understanding of Henderson’s global products and investment expertise. The free app is part of Henderson’s broader strategy to connect with advisors and investors via YouTube, Twitter and Facebook, as well as the Henderson website.
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The ING Global Opportunities strategy uses a thematic approach to identify attractive investment opportunities. The sub-theme ‘Big Data’ helps identify companies that will benefit from a growing global requirement to collect, organise, mine and analyse large and diverse datasets.
Data growth is exploding. Before 2003 mankind created 5 exabytes of data, now we generate 5 exabytes of data every 3 days. Decoding the human genome took 10 years before 2003 but now it can be achieved in one week. Wal-Mart handles more than 1 million customer transactions every hour with the equivalent amount of data as 167 times the books in America’s Library of Congress. Large amounts of data offer opportunities but putting it all together requires new IT solutions. Enter Big Data!
What is Big Data?
The benefits to a business of using its own data are frequently higher when addressing the variety of the data it collects as opposed to the volume. Unfortunately traditional data warehouses are not well-equipped to do this and certainly cannot handle modern unstructured data such as videos, images, texts and music. Fortunately, there is a new and on-going form of innovation within the IT sector that is permitting many organizations to deploy large amounts of complex data at a much faster rate and sophistication than previously was possible. This is what we call Big Data.
In practice Big Data has two main definitions. It usually refers to a special type of data: high volume, high speed and complex; or to a set of new technologies used to collect, organise, mine and analyse large and diverse datasets.
What is driving Big Data?
The real commercial treasure is considered to be the ability to analyse the large volumes of social content and related behaviour. Of course, in order to do this you would need to have the right kind of software and also a certain level of speed to ensure timely application of any business opportunities.
The benefits of combining large volumes of complex data with analytics and velocity are still yet to be discovered in some industries while in others they are already being implemented. In retail, for example, predictive big data analytics based on shopping habits have been around for a while.
Sub-theme within the Global Opportunities strategy
Leveraging Big Data will be a necessity for running the companies of the future. Adopting Big Data solutions could be like opening a treasure chest for many businesses. The ING Global Opportunities team seeks to identify the winners from this trend. Big Data is a sub-theme within the strategy’s ‘Digital Revolution’ investment theme, which is one of the seven main pillars of the team’s thematic approach to global investing.
To view the complete story, click the attached document above.
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Latin Markets is bringing over 400 industry leaders to the Private Wealth Brazil Forum on June 11 at the Tivoli Hotel in Sao Paulo. The one day forum focuses on providing updates regarding regulation, investment management, trust issues and strategies to protect and grow wealth.
With the highest number of HNWIs in Latin America and third highest among BRIC nations, Brazil continues to be a spot-on opportunity for investors to capitalize on returns. Brazil has been adding 19 millionaires per day since 2007, and now has a total of 137,000 millionaires and approximately 30 billionaires, with 70% of the country’s wealth concentrated in Sao Paulo and Rio de Janeiro. High net worth investors are also currently more likely to invest in Brazil than any other foreign country, according to new research from Spectrem’s Millionaire Corner.
More than forty speakers will be attending the Private Wealth Brazil Forum from Brazil’s largest wealth managers, private banks, family offices, high-net-worth individuals, the asset management community, and technology and law.
Participants from private banks and family offices include:
This forum will be a vital networking opportunity for anyone interested in leveraging their place within the international private wealth community. To register for the 2013 Private Wealth Brazil Forum click here.
Latin Markets continues to cover key issues in this specialized market as part of the Private Wealth series at The Private Wealth & The Caribbean Forum at the JW Marriot in Miami on October 24-25.
To register for the 2013 Private Wealth Latin America & The Caribbean Forum click here.
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Howard-Sloan, an executive search firm specializing in the placement of top tier executives for legal and financial practices, is pleased to announce the addition of Alan Goldstein. Mr. Goldstein will serve as the firm’s Global Practice Director of Wealth Management.
“It gives us great pleasure to welcome Alan to the Howard-Sloan team,” said Howard-Sloan CEO, Mitchell Berger. “Alan enters our firm with a multitude of knowledge about the wealth management sector and his extensive work with clients throughout the U.S., Latin America, Europe, Middle East and Asia will help Howard-Sloan expand its verticals both domestically and internationally.”
Goldstein comes to Howard-Sloan with over 20 years of experience in the industry. Through his role he will be concentrating on sectors including, but not limited to, private bankers and relationship managers, financial advisors, and private client investment management.
“I am delighted to join an organization as highly regarded as Howard-Sloan,” Goldstein stated. “The firm’s tremendous track record and success in legal and compliance recruitment dating back to 1957 speaks for itself. I look forward to contributing to the company’s wealth management division by pursuing additional verticals that will serve as a natural progression for Howard-Sloan’s well-established current practices, which include legal, compliance, accounting and IT.”
Goldstein reiterated that firms in the wealth management, family offices, asset management and hedge fund spaces should not hesitate reaching out to him regarding recruiting and hiring executive talent.
For over fifty years, Howard-Sloan Professional Search has specialized in the placement of legal, compliance executives, accountants and IT professionals worldwide. At Howard-Sloan, we are committed to providing the highest level of service to our clients and candidates. We conduct our business honestly, with the greatest sense of integrity
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BNY Mellon, the global leader in investment management and investment services, has been named as the 2012 “Best Service Provider – The Americas” at the ninth annual Global ETF Awards, which is sponsored by exchangetradefunds.com. This is the seventh consecutive year that BNY Mellon has been honored as the top service provider to ETFs (exchanged-traded funds).
“We continue to enhance our industry-leading technology to support an ever-increasing array of ETF categories, including actively managed ETFs, commodity-linked ETFs and global ETFs,” said Joseph F. Keenan, managing director for BNY Mellon Asset Servicing and head of its global ETF services business. “We view this award as evidence of our passion for delivering the highest quality customer service to product sponsors.”
Since its inception in 1997, Exchangetradefunds.com has been providing information on global ETF, ETC and ETN products on its website. Information on the site consists of product descriptions, products listed on international exchanges, industry info and events, interviews from industry leaders and news. It is also the host of the ETF Global Awards® Dinner and Workshop. Its purpose is to recognize those who have contributed to the development of the ETF industry world-wide and welcomes industry participants from the international community to discuss their respective markets.
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In a world of continuing market volatility and low interest rates, investors can still stay invested by seeking opportunities in the right asset classes. Property equities could be one such asset class.
Property equities have returned 13.0% per annum* over the past 10 years to the end of March 2013 – ahead of both equities and government bonds. This includes a period of significant volatility following the onset of the global financial crisis in 2007.
Property equity funds offer the opportunity to invest in a portfolio of listed property stocks and real estate investment trusts (REITs). The latter are publicly traded companies that generate recurring rental income through the ownership of commercial properties in a tax efficient structure. REITs may invest in all kinds of income producing property including shopping malls, offices, apartments, warehouses and hotels. Today, there are approximately 299* publicly traded REITs and property companies globally, with a combined equity market capitalisation of just over one trillion US dollars. The shares of these companies are traded on major stock exchanges, unlike traditional physical real estate investment.
With bond yields offering low, and in some cases negative real rates of return, property equities are becoming increasingly attractive as an alternative investment by providing an attractive dividend yield, liquidity and diversification. Globally, property equities are yielding 3.4%, with 10-year bonds at little more than 1%*. Furthermore, real estate equities have traditionally been viewed as a more defensive asset class than general equities, with lower volatility and a greater proportion of their total return being driven by income.
The characteristics of property equities markets around the world vary significantly. The different regional markets within a portfolio of global property equities can exhibit exceptionally low correlation with each other. The correlations of property equities across the regions is much lower than for other assets, because there are a variety of drivers of returns such as local supply, demand, government policies, regulation and economic factors.
The Henderson Global Property Equities Strategy
The Henderson Global Property Equities Strategy provides investors with diversification benefits in two different ways. Firstly, the fund’s property equities holdings display relatively low correlations with equities and bonds. At the same time, their high levels of income and the stability of underlying asset values make them ideal tools for reducing risk and enhancing returns in a diversified global portfolio. The length of rental agreements ensures a steady, bond-like income stream with a degree of insulation against inflation.
The strategy is co-managed by Patrick Sumner and Guy Barnard. The team collectively manage US$2.3bn globally across a suite of property equity funds (as of 31 December 2012). The global team utilises a disciplined approach where the primary consideration is their bottom-up knowledge of markets, portfolios and people. The team’s investment strategies combine a top-down approach to regional and country allocations with a bottom-up approach to individual stock selection, performed at the regional level. Concentrated portfolios are then built by selecting stocks from defined peer groups, using scoring systems designed to identify relative value.
Global property equities provided a healthy return for investors during the first quarter of 2013, although investors’ risk appetite petered out a little bit. The best performing region was Asia Pacific, ahead of the US, with Europe down overall. In Asia, the majority of gains related to the Bank of Japan’s recent monetary stimulus measures, while performance in Europe was affected by currency exchange rate shifts. US REITs saw divergent performance between the larger-cap names and their smaller peers, with the latter’s outperformance driven by greater risk appetite. Overall, the FTSE EPRA/NAREIT Developed Index gained 6.1%* in US dollar terms over the quarter.
Given this backdrop, over the first quarter of 2013, Henderson’s Global Property Equities strategy modestly outperformed its benchmark, the FTSE EPRA/NAREIT
Developed index*. The strategy of being overweight in Asia-Pacific while underweighting Europe was rewarded. The portfolio’s small-cap names in Europe also performed well. In North America the fund’s bias towards the smaller and mid-cap names reaped rewards, particularly in the healthcare space.
Outlook for global property equities in 2013
Although the global economy remains in the doldrums, consensus forecasts point to sub-par growth in 2013 and it is hard to predict how politicians will balance the conflicting demands of bond markets and citizens — none of this is new news. Whatever uncertainties exist, it may be fair to say that they are ‘in the price’ and risk appetite is increasing, although sovereign bond yields remain at record lows. Against this backdrop, we believe the income return on property looks relatively attractive and has the important advantage of being a tangible asset and a reasonable inflation hedge.
*Source: UBS, Thomson Reuters Datastream, Yieldbook, Morningstar, Henderson Global Investors as at 31 March2013. Note: benchmark is FTSE EPRA/NAREIT Developed REIT Index.
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Founder of The Celebrity Personal Assistant Network, Brian Daniel, has expanded his recruitment firm to cater to Greater New York City’s upper echelon hedge fund managers, fashion designers and high net worth families. The areas served include but are not limited to Manhattan (Wall Street/Financial district, Upper East Side/West Side); Staten Island; Long Island (Brooklyn, Queens and the Hamptons); as well as the neighboring communities in Connecticut. As a former personal assistant to Hollywood A-list, billionaires and royalty, Daniel is the world’s only headhunter with such first-hand experience.
Daniel’s network of top-tier executive assistants, estate mangers and personal assistants represent the best of the best in New York City and have worked for high profile families, Wall Street finance gurus and fashion icons of industry – among others.
Daniel’s recruitment firm is the only one of its kind and exclusively offers concierge service: 9 am to 9 pm seven days a week 365 days a year, so high profile individuals and hedge fund managers with demanding schedules have the kind of accessibility that fits their lifestyle.
In the attached video Daniel explains that a nomal Personal Assistant earns about $100,000 a year, plus bonus and perks that can amount to an additional $150,000 a year. The market is big enough with 50,000 households in the US with a net worth of between $50 million and $500 million, and more than 9 million millionaires in the US alone, and 1,200 billionaires in the world, with almost half of them in US.
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Virtually all Mexican investors (95%) are optimistic about meeting their long-term investment goals, yet stock ownership is low and investment return expectations are high, according to the 2013 Franklin Templeton Global Investor Sentiment Survey. The survey polled 9,518 investors in 19 countries across Asia Pacific, the Americas and Europe on their current attitudes towards investing and their expectations for 2013 and the decade ahead.
Two thirds of Mexican investors think they will be able to meet their long-term investment goals without stocks, and Mexico has the lowest level of stock ownership (16%) of all 19 markets surveyed. By comparison, Hong Kong investors reported the highest level of stock ownership at 87% and US respondents reported 64%. Mexican investors predict a 10.8% market return in 2013 and a 14.9% average annual return on their investments over the next 10 years, the survey showed. In addition, more Mexican investor say they will be adopting a more conservative investment strategy (59%) this year than will be adopting a more aggressive one (38%).
“Given the research on expected long-term investment returns for different asset classes, there appears to be a clear disconnect between Mexican investors’ high expectations for returns and their lack of equity exposure,” said Hugo Petricioli, Franklin Templeton’s country head for Mexico and Central America. “Portfolio diversification, including stock ownership, has historically proven essential to long-term investment returns, so clearly some investor education is needed.”
Global Investing, Benefits of Working with a Financial Professional
Like investors in most countries, Mexican investors have a home country investment bias. Mexican investors currently allocate nearly two thirds of their investments to Mexico, although they expect this percentage to decline slightly over the next 10 years as a larger percentage is allocated to developed markets. However, Mexican investors show concern about investing about their own country, with nearly half of those surveyed citing lack of knowledge as the main barrier, followed by the impact of exchange rates on their investment returns and regulatory restrictions.
Globally, those who work with a financial professional are more geographically diversified with their investments, had a more accurate view of past stock market performance and were more likely to identify themselves as being optimistic about reaching their financial goals (82%) than those who do not (76%).
Global Survey Results
While over 60% of global investors believe their country’s stock market will be up in 2013, risk continues to be a concern. In addition, two-thirds (66%) of investors now expect the best equity and fixed income opportunities will be found outside their home market this year (2013), reflecting growing optimism for global investing.
Overwhelmingly, investors around the globe have higher expectations for 2013 stock market performance, particularly in emerging markets where 66% expect their local stock market will improve (versus 58% in developed markets). However, despite this optimism, 57% of those surveyed plan to pursue a more conservative investment strategy this year, with younger investors (aged 25 to 34) leading the charge toward “safer” havens.
“In spite of investors’ positive outlook, it appears that avoiding loss, rather than achieving higher returns, is still their top priority,” said Greg Johnson, president and chief executive of Franklin Templeton Investments. “Clearly the market volatility over the past five years has reinforced a preference among investors for capital retention over investment gains. As seen in recent years, this risk avoidance has led many investors to remain on the sidelines, missing opportunities.
Wylie Tollette, director of Performance Analysis and Investment Risk for Franklin Templeton Investments added, “Many investors need to rethink risk and focus on the long term. Risk avoidance and risk management are two different things. Trying to avoid short- term risk and volatility entirely may expose investors to other kinds of risks, such as inflation and the impact of rising interest rates. These longer-term risks can negatively impact their ability to meet their financial goals.”
Contributing to investor risk aversion, more than half (51%) of investors globally incorrectly believe their domestic stock market was flat or down last year, when in reality, every market surveyed experienced an increase except Spain—and the MSCI World Index was up nearly 17%.
Investors See Best Opportunities Abroad
Despite reporting an overall tendency toward more conservative investing, investors recognize the opportunities of investing abroad.
Reflecting growing optimism for global investing, two-thirds (66%) of investors now expect the best equity and fixed income opportunities will be found outside their home market this year (2013).
Considering performance of equities by geographic region, the highest portion of investors (28%) believes that Asia will provide the best equity return opportunity in 2013. Asia was also selected, with the portion increasing slightly to 33%, when investors considered equity returns over a 10-year period.
While investors are not quite ready to send the majority of their assets overseas in 2013, they do plan to invest nearly 40% of their assets in foreign markets over the next 10 years, split evenly between developed and emerging markets.
Only in Australia and the United States do the majority of investors see the best equity and fixed income opportunities at home rather than abroad, as they plan to keep about three-quarters (78% in Australia and 74% in the United States) of their assets at home over the next 10 years.
Retirement is Top Investment Goal
Retirement is the top investment priority globally, with about a third (31%) of investors selecting it as their top investment goal in 2013. The selection of retirement was highest in the United States and Canada (54%), while lowest among investors in Latin America (19% in Mexico) and parts of Asia Pacific (29%). The top goal in those two regions is saving to purchase a new home (37% in Mexico and 31% in Asia Pacific). At 12%, Europe had the highest number of investors who indicated that saving for emergencies was their top goal.
Younger Investors Most Conservative, Global-Minded
Over two-thirds of younger investors (aged 25 to 34) do not see stocks as essential to meeting their long-term investment goals, the same figure for all Mexican investors. Compared to the other age groups surveyed, younger investors are also least likely to expect stocks to outperform other asset classes and more likely to be conservative in 2013.
That said, younger investors have more of their assets currently invested abroad, at an average of 37%, and show a greater willingness to invest abroad going forward.
Stocks, Precious Metals Lead Asset Class Expectations
Globally, stocks and precious metals were each selected by 21% of investors as the asset classes expected to perform best in 2013. However, those residing in developed markets generally have a more favorable outlook for equities, with Australia, Canada, Hong Kong, Japan, Singapore and the United States expecting stocks to be the top performing asset class this year.
As investors look further into the future, they expect real estate to outperform all other asset classes over a 10-year period, with the largest portion of investors (22%) seeing the greatest investment return in that asset class. Stocks and precious metals, each selected by 19% of investors, were not far behind.
In Mexico, the expected top-performing asset classes in 2013 and over the next decade are:
2013 Expectations Top-Performing Asset Class | 10-Year Expectations Top-Performing Asset Class |
Precious Metals (61%) | Precious Metals (57%) |
Real Estate (56%) | Real Estate (54%) |
Non-Metal Commodities (39%) | Non-Metal Commodities (43%) |
By comparison, Mexican investors ranked stocks fourth, after the asset classes noted above, for 2013 and 10-year expected returns
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The deVere Group Caymans Ltd will mark the company’s first office in the Caribbean and will be headed by Chief Executive Officer Mr Nigel Green and long-time deVere Executive, Mr Simon Pratt, said the firm in a statemtent.
The deVere Group Cayman Islands presence is expected to be established on West Bay Road in Grand Cayman – in the heart of the Cayman Islands‘ financial industry. The deVere Group Caymans Ltd will specialise in Insurance Brokerage, whilst delivering yet another promise to its clientele to be wherever they choose to live around the world. Nigel Green expects the ‘final touches’ to be finalised shortly, as the company is looking to obtain the operating licence in the coming weeks.
“Until now, despite the Cayman Islands‘ attraction as a tax haven for wealthy individuals, few financial advisers have sought to base themselves in the British territory. For this reason, we believe that this venture will help us bridge the gap in the market, whilst keeping in line with the company’s growth objectives.”
“The deVere Group is the world’s largest independent international financial consultancy. International investors and expatriates employ us to find financial services products that suit their medium to long term requirements for investments, savings and pensions. With in excess of US$9 billion of funds under administration and management, deVere has more than 70,000 clients in over 100 countries”, said the firm in a statement.