Manufacturers appear to be past the worst of the Covid slump. But stocks are pricing in a much stronger and faster recovery than any CEOs are anticipating.
Virtualisation, alongside the increasing use of data and digital functionality and services, is vital to future-proofing the family office. This has never been more apparent than now, when advisers must manage complex relationships remotely, and at a time when investors everywhere face significant challenges, says Yaela Shamberg.
More than 36 million Americans have filed for unemployment in the Coronavirus pandemic. Some predictions suggest we could see as high as 15-20% of our entire workforce unemployed before all of this is over.
While the pandemic has diverted filers’ attention, it’s never too early to plan ahead.
Experts weigh in on what employees should expect – and how they can keep track of their expenses – as their new way of work sets in.
Family offices increasingly have to navigate the complexities of cross-border legal issues: a necessary side-effect of globalisation. The family office will consequently need advisers on issues such as tax, estate planning and regulation that covers all countries in the mix, and advice on succession planning is increasingly featuring high up on the family office to-do list.
With the benefit of hindsight, that turned out to be about right. Oxford Lane Capital Corp., a fund flagged by Barron’s that traded at $10.53 in July 2018, would top out at $11.50 a month later. It’s now worth just $3, not far from its low in March. Eagle Point Credit Co., which traded at $18.65 at the time, would climb by less than a dollar over the following year and is now hovering around $5.75. While these investments are known for their high yields, that’s still a steep loss in total value. And unlike public equities and even high-yield bonds, the funds show little evidence of rebounding anytime soon.
Today, private banks are able to identify, target and reach niche family office and high net worth client segments. Along with strategic service design, banks can create a well-differentiated, bespoke offering and build strong client relationships.
Recent news headlines state that the hedge fund industry saw its highest level of redemptions during the 1st quarter of 2020 in over a decade, with $33 billion leaving the industry. A more appropriate headline would have been “Hedge Funds Only Lose 1% of Industry Assets – Learned from 2008 Experience.”
When global equity markets lost around US$16 trillion of their value in a single month this year, the wealthy found themselves no more protected from financial loss than anyone else.
