Archive for January, 2013

Ajay Bagga bullish on infrastructure sector

Jan 28 2013, 13:38

Short OBC, Rel Comm, HDIL: Tater

– in Stocks Views


Monday, January 28th, 2013 EN No Comments

Ajay Bagga bullish on oil & gas space

Ajay Bagga, MD Head of Private Wealth Management, Deutsche Bank India is bullish on oil and gas space.

Bagga told CNBC-TV18, “Oil and gas will benefit from the kind of policy pronouncements we have seen if this is followed through like diesel price hike for the next 12 months by Rs 0.50 per month. Our estimate is subsidy burden could go down from Rs 23000 to 25000 crore. So that will help the downstream oil companies.”

He further added, “But overall we are bullish on oil and gas as beneficiaries of the government larges on the policy front or even some benefits flowing through. Oil and gas, banking, infrastructure, these sectors would benefit in the first two quarters in terms of government policy coming through strongly.”


Monday, January 28th, 2013 EN No Comments

Global trends in the fee-for-service model in wealth management

The wealth management business model for GCC will take some global and some domestic characteristics. This is based on their deployment of their wealth which is estimated to be biased more in favor of global investments due to lack of local absorptive capacity. While for the global segment, they tend to follow the traditional fee based outsourced model, for the domestic they tend to prefer commission based self-directed investment decision making process. GCC high-net worth clients enjoy a high development index when it comes to their global investments. They get the privilege of full product suite including mainstream and alternative products. Hence, GCC high net worth individuals are acutely familiar with asset based fee concept as well as transaction based fees for their global investments. However, the same cannot be said about their regional investments where fee based service model is prevalent in the managed accounts segment of the fund management business, which can either be discretionary or non-discretionary. Also, fee based business is practiced for custody accounts which is quite popular service.


Sunday, January 27th, 2013 EN No Comments

Aite Group Recognises Temenos as Best Technology Choice for Upper-Tier …

Temenos (SIX: TEMN), the market leading provider of banking software, today announces it has been awarded a ‘top advisor solution’ accolade in Aite Group’s latest report ‘European and Asia-Pacific Wealth Management Technology Players: Dec 2012’. 

The report recognises Temenos as
the most global of providers, with deployment in all major regions around the world, strong positions in both North American and European markets, and a growing presence in 

It goes on to state that Temenos ‘stands out as the vendor best placed to meet the mass-affluent wealth management technology needs for large financial institutions with multinational operations


Aite Group also recognised Temenos’ recent acquisition of user experience platform (UXP) developer, edge IPK, as strengthening Temenos’
ability to provide multichannel deployments, including online direct-to-consumer solutions and tablet applications for advisors and end clients


David Arnott, Temenos CEO
, said: “Temenos is both excited by the market potential and strongly focused on the wealth management market. We have made significant investments – including the acquisition of edge IPK to boost our multichannel capabilities – to ensure that our PWM solutions stay ahead of the rest of the market and, as such, it is great to receive this recognition from Aite Group. We are confident that our proposition for the PWM market is unbeatable: a complete portfolio of open, integrated and best-in-class solutions which help our customers to prosper in an era of tougher regulations, stronger competition and more exacting customer requirements.”

Sophie Schmitt, Aite Group, Senior Analyst
and co-author of the report, commented: “In addition to the firm’s global reach and integrated wealth management platform, Temenos also offers best-in-class client onboarding and financial planning capabilities through partnerships with Appway, PlanPlus and NaviPlan. Advisors and relationship managers using Temenos’ suite of capabilities are well positioned to provide the differentiated client experience which engenders strong and enduring client relationships.”

About Temenos

Founded in 1993 and listed on the Swiss Stock Exchange (SIX: TEMN), Temenos Group AG is the market leading provider of banking software systems to retail, corporate, universal, private, Islamic, microfinance and community banks, wealth managers, and financial institutions. Headquartered in Geneva with more than 55 offices worldwide, Temenos software is proven in over 1,500 customer deployments in more than 125 countries across the world. Temenos’ products provide advanced technology and rich functionality, incorporating best practice processes that leverage Temenos’ expertise around the globe. Temenos customers are proven to be more profitable than their peers: in the period 2008-2010, Temenos customers enjoyed on average a 30% higher return on assets, a 46% higher return on capital and an 8.5 percentage point lower cost/income ratio than banks running legacy applications.


Saturday, January 26th, 2013 EN No Comments

Brandes Investment Partners Announces New Retail Collaboration With Lazard …

Brandes Investment Partners Co.
(Brandes) is pleased to announce a new arrangement with Lazard Asset
Management (LAM) to offer LAM mutual funds to retail investors in
Canada. Building on the proven success of the alliance with Sionna
Investment Managers Inc. (Sionna), this new collaboration expects to
initially offer two LAM mandates focusing on global dividend
opportunities and emerging market equity and debt opportunities. LAM’s
investment culture and style complements the offerings of both Brandes
and Sionna. All three firms have a strong bias to fundamental bottom-up
stock selection and are known for their proprietary research approach
and capabilities.

“Brandes has been doing business in Canada for almost 40 years” said
Charles Brandes, Chairman, Brandes. “In fact, my first client was a
Canadian, so I’m delighted that we are taking this step to further
expand our commitment to Canadian investors by partnering with another
world class manager.”

With more than 280 investment personnel worldwide, LAM’s diversified
global investment platform manages in excess of $US146 billion (as of September 30, 2012) and is noted for its emerging markets capabilities and success. Possessing a disciplined investment style that remains consistent
through all market environments, LAM’s research-driven investment
process focuses on financial productivity and valuation.

“Brandes has become synonymous with high-quality, value-added investment
solutions designed for the discerning investor seeking long-term wealth
generation,” says Brandes President Carol Lynde. “Six years ago, Sionna
and Brandes created an innovative and enduring strategic alliance that
provides strong incentives to do what is best for clients in the long
run. It has proven to be a great success; we believe collaborating with
LAM will extend that success.”

“We are pleased that the distribution model Brandes has created will
provide Canadian investors the opportunity to access LAM’s products,”
says Charles Carroll, Deputy Chairman, Lazard Asset Management. “LAM
has a history and a culture of providing high quality investment
solutions for our clients worldwide. We look forward to leveraging our
success in global and emerging markets to benefit Canadian investors.”

“Remaining independent but still able to offer investors’ choice has
proven to be a winning combination” adds Kim Shannon, President of
Sionna Investment Management. “At Sionna, we are excited that investors
have even greater flexibility and breadth of offering as Lazard joins
the platform.”

There is no impact to each company’s individual operations and
institutional business lines under the new retail arrangement.

About Brandes Investment Partners Co.

Brandes Investment Partners Co. is an affiliate of Brandes Investment
Partner L.P. of San Diego, CA and has been providing Canadians with
investment solutions since 1997. Brandes LP is a leading global
investment advisory firm, managing more than CDN$29.3 billion of assets
for institutional and private clients worldwide. Brandes LP applies the
approach to securities selection pioneered by Benjamin Graham,
identifying investment opportunities with a long-term context and
following a time-tested value discipline in all market conditions. The
company’s web site is

About Lazard Asset Management

LAM Canada and LAM LLC are indirect subsidiaries of Lazard Ltd (NYSE:
LAZ), one of the world’s preeminent financial advisory and asset
management firms, which operates from 42 cities across 27 countries in
North America, Europe, Asia, Australia, Central and South America. With
origins dating back to 1848, the firm provides advice on mergers,
acquisitions, strategic matters, restructuring and capital structure,
capital raising and corporate finance, as well as asset management
services to corporations, partnerships, institutions, government and
individuals. For more information on Lazard, please visit

About Sionna Investment Managers Inc.

Sionna Investment Managers was founded in 2002 under the leadership of
Kim Shannon.  Based in Toronto, Canada, Sionna is an independent,
employee-owned investment management firm that currently oversees C$3.4
on behalf of its institutional and private clients.  The firm
adheres to a disciplined, relative-value-driven, bottom-up approach to
stock selection.  Sionna’s relative-value style is a low-risk approach
that is focused on capital preservation and generating value-added
returns for its clients over the long term.  For more information,
please visit Sionna’s website at


Saturday, January 26th, 2013 EN No Comments

Sedco Capital scoops Best Fund Manager award from the Global Islamic …

The Global Islamic Finance Awards ceremony has become recognized as the most prestigious and important annual event in the global Islamic financial community for its uniqueness in being offered exclusively for Islamic banking and finance. As well, its popularity has grown due to its celebrating of the success and contributions of individuals and institutions in the Islamic finance services industry.

Contributing over 27 years of banking experience in the region and commenting on winning the award, SEDCO Capital’s CEO, Hasan Al Jabri said, “It is an honor to receive such a prestigious international award. I would like to thank our team of Capital Market Authority (CMA) -registered professionals, who together have more than 500 years of experience in asset management, for providing our clients with the very best in wealth management services, sustainable growth, risk controls and good returns, which have been perfected to select best-in-class products and opportunities from across the globe.”

He added that as a well-established global player, SEDCO Capital currently manages, advises, monitors and reports on an investment portfolio with strategic asset allocation amounting to SAR11bn.

Hosting the GIFA, the Asian Finance Forum, while aiming to provide a platform for the exchange of insights of Asian industry leaders on key developments and transformational issues affecting the Islamic finance industry, is also concerned with the latest global trend of an economic and financial shift eastwards and vast innovations coming out of Asia, which are challenging the management thinking of the developed world.

While attending the forum, Al- Jabri also gave a keynote presentation concerning the current challenging global economic conditions and ways SEDCO Capital could remedy the situation, advising to move toward a more adaptive investment approach.

Explaining this approach Al Jabri said, “With this approach, we strive for a balance between shorter-term, dynamic investment decision-making as well as longer-term investment opportunities through a combination of selection decisions, as well as seeking greater diversification through portfolio construction and management diversification across asset classes, geographies, risk factor exposures and investment themes.”

Giving an example, he stated that through the development and implementation of what has become Luxembourg’s largest Islamic Funds Platform, SEDCO Capital, over the past couple of years, has pooled the city’s assets and launched a Shariah-compliant Special Investment Fund (SIF) platform in Luxembourg.

“This represents one of the first times that a Middle Eastern entity has successfully established a Special Investment Fund (SIF) and one which is domiciled onshore in a major financial jurisdiction. It is also a platform that is both cognizant and compliant with existing and future financial and funds regulations, and that could be used as a successful model in Asia and around the globe.” Al-Jabri concluded.


Saturday, January 26th, 2013 EN No Comments

Morgan Stanley Wealth Management Hosts Fourth Annual Go Red Women’s …

NEW YORK–(BUSINESS WIRE)–Morgan Stanley Wealth Management Women’s and Multicultural Financial
Advisors’ Forums (,
will partner with the American Heart Association (AHA) – Westchester and
Fairfield Counties, to host the fourth annual Go Red Women’s Leadership
Breakfast at the Firm’s Westchester campus on National Wear Red Day,
Friday, February 1.

“I’m particularly looking forward to hearing from Diana.
It’s our hope that her story of courage and unwavering commitment will
inspire attendees to conquer whatever may seem impossible in their own

The breakfast, open to the public, will feature a conversation with
Diana Nyad, author, journalist and long-distance swimmer noted for her
world-record endurance championships, and will be hosted by Douglas J.
Ketterer, Head of U.S. Field Management, Morgan Stanley Wealth
Management. Media personality, Harriette Cole will moderate.

“We are pleased to again host this leadership breakfast, which helps
raise awareness and empower women to take charge of their heart health,”
said Ketterer. “I’m particularly looking forward to hearing from Diana.
It’s our hope that her story of courage and unwavering commitment will
inspire attendees to conquer whatever may seem impossible in their own

In September, 2011, much of the country followed Nyad as she attempted
to swim the 103 miles between Cuba and Florida without a shark cage –
but the effects of potentially deadly box jellyfish stings eventually
compromised her swim after 41 hours. Though an attempt a year later was
also called off after 51 hours due to life-threatening lightening
storms, Nyad intends to keep trying until she completes the entire 103

In 1979, Nyad swam from the Bahamas to Florida, setting a distance
record for non-stop swimming without a wetsuit that still stands today.
She has broken numerous world records, including the 45-year-old mark
for circling Manhattan Island (7 hrs, 57 min) in 1975. She was inducted
into the National Women’s Hall of Fame in 1986 and the International
Swimming Hall of Fame in 2003.

“We know that Diana will inspire women to use their power and strength
to make changes in their lives,” said Gregory Plage American Heart
Association Executive Director, “We commend Morgan Stanley for shining a
spotlight on heart disease – the number one killer of women.”

The breakfast takes place Friday, February 1, 8:00 a.m. at the Morgan
Stanley Wealth Management Headquarters: 2000 Westchester Ave.
Auditorium, Purchase, NY 10077. Reservations are required for security
access, and limited seating is available. Please R.S.V.P. by January 31

Go Red For Women® captures the energy, passion and the spirit power of
women to band together and speak out against a silent killer. Designed
to celebrate the power and authentic voice of women, their influence and
strength in numbers, Go Red For Women® is gaining momentum as more and
more leaders are lending their voice to the American Heart Association’s
call for action and change. The AHA will host their annual Go Red For
Women Luncheon on February 28 at the Hyatt Regency Greenwich to help
raise awareness and funding to fight heart disease in women.

Morgan Stanley Wealth Management, a global leader, provides access to a
wide range of products and services to individuals, businesses and
institutions, including brokerage and investment advisory services,
financial and wealth planning, credit and lending, cash management,
annuities and insurance, retirement and trust services.

Morgan Stanley (NYSE: MS) is a leading global financial services firm
providing a wide range of investment banking, securities, investment
management and wealth management services. The Firm’s employees serve
clients worldwide including corporations, governments, institutions and
individuals from more than 1,200 offices in 43 countries. For further
information about Morgan Stanley, please visit


Go Red For Women®, powered by the American Heart Association’s
research, educates and connects millions of women of all ages. With one
out of three women still dying from heart disease, we continue to fight
this No. 1 killer by helping women turn simple choices into life-saving
actions. Whether it’s eating healthier, exercising more, reducing our
cholesterol, or quitting smoking, Go Red helps women make these choices
for themselves and each other.


Founded in 1924, the American Heart Association is the nation’s oldest
and largest voluntary health organization dedicated to building
healthier lives, free of heart disease and stroke. To help prevent,
treat and defeat these diseases – America’s No. 1 and No. 3 killers – we
fund cutting-edge research, conduct lifesaving public and professional
educational programs, and advocate to protect public health.

The guest speaker is neither an employee nor affiliated with Morgan
Stanley Wealth Management.
Opinions expressed by the guest
speaker are solely his or her own and do not necessarily reflect those
of Morgan Stanley Wealth Management.

©2013 Morgan Stanley Smith Barney LLC. Member SIPC.

CRC 612424 (01/13)


Saturday, January 26th, 2013 EN No Comments

READER SUBMITTED: Ryan Tuttle & Kayse Kress Named Senior Financial …


7:10 p.m. EST, January 25, 2013

Ryan Tuttle, CFP, ChFC, CLU and Kayse Kress, CFP have been promoted to senior financial advisors at Connecticut Wealth Management, LLC, ( a registered investment advisor offering financial planning and investment management. “Ryan and Kayse have been integral parts of our firm and we greatly appreciate their dedication and support, as do our clients,” said CEO and Founder, Kevin Leahy.

As senior financial advisors, Mr. Tuttle and Ms. Kress are responsible for analyzing investments, implementing advisory portfolio strategies, and managing the financial planning process for clients of the firm. The promotions are recognition for the hard work and dedication that Ryan and Kayse have shown working with clients of Connecticut Wealth Management. Prior to being named senior financial advisors, Mr. Tuttle and Ms. Kress served as financial advisors with the firm. “I look forward to this new role and continuing to provide our clients with the high level of service they have grown to expect from Connecticut Wealth Management,” said Ms. Kress.

Mr. Tuttle and Ms. Kress specialize in working with executives, doctors, business owners, and families, in addition to their involvement with the CTWM Investment Committee. Ms. Kress is a member of the Financial Planning Association of CT Valley, the Metro Hartford Alliance and the Hartford Young Professionals and Entrepreneurs (“HYPE”) and she is actively involved in local organizations such as the American Cancer Society and the National MS Society. Mr. Tuttle is also an active member of the Financial Planning Associate of CT Valley, the Metro Hartford Alliance and the Hartford Young Professionals and Entrepreneurs (“HYPE”) and the UConn Alumni Association. Mr. Tuttle and Ms. Kress are frequently called upon to discuss financial planning concepts with community organizations including the University of Connecticut, various nonprofits, and continuing adult education workshops.

About Connecticut Wealth Management, LLC

Connecticut Wealth Management is a registered investment advisor offering financial planning and asset management to individuals across Connecticut and nationwide. At Connecticut Wealth Management, we take pride in our independent business model. This independence aligns our interests with those of our clients. Our goal is to always provide thorough, unbiased financial planning, which is always focused on a suitable strategy and solution for our clients. Our firm employs a team collaborative approach to wealth management and our advisors form genuine partnerships with our clients built on trust and understanding. For more information on Connecticut Wealth Management visit

Securities offered through LPL Financial Member FINRA/SIPC.

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Saturday, January 26th, 2013 EN No Comments

Wealth Side Of Barclays Unaffected By Investment Bank Job Cuts In Asia

Tom Burroughes
Group Editor in London

25 January 2013

News Analysis

Wealth management-related jobs at Barclays in Asia are unaffected by reports that the UK-listed bank is planning to axe at least 15 per cent of its investment banking roles in the Asia-Pacific region, this publication understands.

Bloomberg, citing unnamed sources, said the firm will cut around 70 investment banking jobs in the region, including Japan, starting this week.

Barclays declined to comment on the matter when contacted by this publication.  

It is understood that the job cuts have no connection with the wealth and investment management side of Barclays’ operations.

Banking groups around the world have cut investment banking jobs and risk exposures in the long-drawn out aftermath of the financial crisis, as tighter regulations and a less benign market environment has hit profitability in this side of the business.


Friday, January 25th, 2013 EN No Comments

BROOKS MACDONALD GROUP PLC : – Trading Statement – 4

25 January 2013


Half year trading update and Quarterly Announcement of Funds under Management

Notice of Half Year Results

Brooks Macdonald Group plc (the “Group”), the AIM listed integrated wealth management group, today announces a trading update for its half year ended 31 December 2012 together with an update on its funds under management.

Trading Update

Trading for the half year was in line with the Board’s expectations, with revenues and profits ahead of the same period last year with significant progress made in all areas of the business on our growth strategies.

In November, we announced the acquisition of Spearpoint, a Jersey and Guernsey based provider of discretionary fund management with stockbroking and retirement planning capabilities, which completed on the 19 November. A successful placing to raise £21.5 million was completed at the time to fund the majority of the initial consideration. Acquisition costs of £1.016 million were incurred and these one off costs will be charged to the profit and loss account for the period.

On completion Spearpoint had discretionary assets under management of £686 million, including funds totalling £85 million. In addition it had advisory assets of £357 million.  Spearpoint is a good synergistic fit with the Group’s existing growth strategy, adding important access to an expanding international pensions market.

Since the acquisition, integration has successfully commenced and the rebranding of the business has been completed with the launch of Brooks Macdonald International (which is divided into Asset Management, Employee Benefits and Retirement Services).

Funds under Management


As at 31 December 2012 discretionary funds under management totalled GBP £4.62 billion (30 September 2012: £3.751 billion).

This represents an increase of 23.2% over the quarter and 5% net of the impact of the acquisition of Spearpoint. As a comparison the APCIMS balanced index grew by 1.6% over the quarter.

Over the first six months of the current financial year discretionary funds grew by £1.1 billion, or 31% and net of the acquisition of Spearpoint by £414 million, representing 11.8% over the first six months. This compares to the APCIMs balanced index that grew by 4.1% over the period.

Included in the above total is Brooks Macdonald Funds, which now incorporates the former Spearpoint funds; it had funds under management of £323 million at the half year end or £244 million net of the Spearpoint Funds (30 June 2012: £148 million). The successful reconstruction of the Spearpoint funds was completed just prior to Christmas and whilst this led to some modest redemptions (around £7 million) it has led to the launch of two new income funds.


As at 31 December 2012 advisory funds under management (formerly managed by Spearpoint) totalled GBP £373 million.

Property assets under administration

The Group’s property management business Braemar Estates had property assets under administration of £885 million at the half year end (30 June 2012: £865 million), an increase of £20 million against a backdrop of asset revaluations downwards of 5%.

Third party assets under administration

The Group launched its new investment management administration service in April 2012, having successfully become an Application Service Provider (‘ASP’).  Following this launch third party assets under administration are now in excess of £100 million.

Notice of Results

The Group intends issuing its half year results on Wednesday, 13 March 2013.

Chris Macdonald, Chief Executive of Brooks Macdonald, commented:

The half year has been a successful period of growth across the Group, culminating in our acquisition of Spearpoint in November. We are excited about the enhanced capabilities this gives to our Group offeringand the opportunities going forward.”


Brooks Macdonald Group PLC

Chris Macdonald – Chief Executive                                                         020 7499 6424

Simon Jackson – Finance Director                                                 

Canaccord Genuity (Nominated Adviser Broker)

Bruce Garrow/Sebastian Jones                                                              020 7523 8350

MHP Communications

Reg Hoare / Barnaby Fry/ Simon Hockridge/ Giles Robinson                    020 3128 8100

Notes to editors

Brooks Macdonald Group plc is an AIM listed, integrated, wealth management group. The group consists of six principal companies: Brooks Macdonald Asset Management  Limited, a discretionary asset management business; Brooks Macdonald Funds Limited, a fund management business; Brooks Macdonald Financial Consulting Limited, a financial advisory and employee benefits consultancy; Brooks Macdonald Asset Management (International) Limited, a Jersey and Guernsey based provider of discretionary investment management and stock broking; Brooks Macdonald Retirement Services (International) Limited, a retirement planning services provider and Braemar Estates (Residential) Limited, an estate management company


Friday, January 25th, 2013 EN No Comments