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December 10, 2020

We believe that vaccine prospects are likely to make 2021 a year of global economic recovery. While markets have priced in a fair amount of the good news, more gains seem possible as corporate profits rebound and central banks remain on hold.

We believe that vaccine prospects are likely to make 2021 a year of global economic recovery. While markets have priced in a fair amount of the good news, more gains seem possible as corporate profits rebound and central banks remain on hold.

With the world in the early post-recession recovery phase of the business cycle, our medium-term outlook for economies and corporate earnings is positive. We believe that 2021 will feature an extended period of low-inflation, low-interest rate growth that favours equities over bonds.

May 7, 2020

The valuation of financial assets is based on expectations of future returns—but what if the next half century is vastly different from the previous one? Environmental changes are affecting companies and countries in a number of ways. Investors need to understand the key environmental trends and grapple with the implications for geopolitics and markets.

The valuation of financial assets is based on expectations of future returns—but what if the next half century is vastly different from the previous one? Environmental changes are affecting companies and countries in a number of ways. Investors need to understand the key environmental trends and grapple with the implications for geopolitics and markets.

December 18, 2019

Great power conflict has been rendered obsolete by the relentless advance of globalisation, material prosperity and the triumph of reason. So argued Norman Angell in The Great Illusion, published in 1910.

Great power conflict has been rendered obsolete by the relentless advance of globalisation, material prosperity and the triumph of reason. So argued Norman Angell in The Great Illusion, published in 1910.

Four years later, World War I exploded out of thin air. It began what Marxist historian Eric Hobsbawm described as the “short Twentieth century”, which ended with the fall of the Soviet Union in 1991.

December 6, 2019

The story of the family behind Cartier and the three brothers who turned their grandfather’s humble Parisian jewellery store into a global luxury icon is vividly told by descendant Francesca Cartier Brickell in her new book.

In this abridged extract from The Cartiers: The Untold Story of the Family Behind the Jewellery Empire, Francesca recalls her discovery of hundreds of private letters which transformed her understanding of her family and her family’s legendary business.

The story of the family behind Cartier and the three brothers who turned their grandfather’s humble Parisian jewellery store into a global luxury icon is vividly told by descendant Francesca Cartier Brickell in her new book.

In this abridged extract from The Cartiers: The Untold Story of the Family Behind the Jewellery Empire, Francesca recalls her discovery of hundreds of private letters which transformed her understanding of her family and her family’s legendary business.

March 27, 2015

The number of wealthy Russian investors employing a conservative wealth management strategy has more than quadrupled in two years, according to a report due to be released by Campden Research next week.

The number of wealthy Russian investors employing a conservative wealth management strategy has more than quadrupled in two years, according to a report due to be released by Campden Research next week.

Twenty three per cent of participants said their wealth management objective was to preserve wealth, while 42% employed a balanced approach, and 35% sought growth, according to the Russian Entrepreneurship Report 2015.

Two years ago, the figure seeking wealth preservation was 5%.

December 1, 2014

Russian aggression in Ukraine, Ebola in West Africa, Middle Eastern conflict, US midterm elections and a continuing debt crisis in Europe. Even if global macro funds are poor performers, geopolitics and macroeconomic data needs to be central to your asset allocation decision-making. 

In terms of performance, hedge funds have had it rough the past few years. And of all the alternative investment styles, global macro has arguably had it the worst. Global macro strategies try to forecast macroeconomic developments around the world, such as interest rates, geopolitics, government policies and so on.

September 25, 2014

Merck to acquire US Sigma-Aldrich for $17 billion; Colombian family-owned bank raises $1.26 billion at IPO; and Ikea announces €2 billion expansion in Russia

Merck to acquire US Sigma-Aldrich for $17 billion; Colombian family-owned bank raises $1.26 billion at IPO; and Ikea announces €2 billion expansion in Russia

Merck to acquire US Sigma-Aldrich for $17 billion 

German pharmaceutical company Merck, 70% owned by the eponymous founding family, has agreed to buy US firm Sigma-Aldrich for $17 billion (€13.3 billion) in order to bolster its laboratory supplies business. 

August 1, 2014

German family businesses are feeling the pinch from Russia’s confrontation with the West, particularly carmaker Volkswagen, who has reported an 8% year-on-year decrease in Russian sales. 

German family businesses are feeling the pinch from Russia’s confrontation with the West, particularly carmaker Volkswagen, who has reported an 8% year-on-year decrease in Russian sales.

With further sanctions on the horizon, Volkswagen, controlled by the Piech family, is just one of approximately 6,000 German family businesses operating in Russia that are expected to suffer from the incoming “level three” sanctions.

February 19, 2014

Corruption, red tape and staffing pressures have been some of the key risks weighing on Russian entrepreneurs’ minds in the past 12 months, but the investment outlook is still buoyant and there is an increasing interest in the family office model. CampdenFB reports

Russia continues to offer great rewards and great challenges for its wealthy. The process of getting rich, however, is different to the process of staying rich. The fourth annual UBS/Campden Wealth report, Russia’s Wealth Creators, highlighted corruption, too much regulation and the greater need, but limited ability, to secure qualified management and staff, as the key challenges facing Russia’s entrepreneurs. These particular challenges have grown dramatically in importance when compared to last year’s survey.

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