Archive for April, 2013

Ameriprise Hires Vets from Morgan Stanley, Merrill, UBS

Ameriprise Financial Inc. has hired financial adviser teams who managed …

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Tuesday, April 30th, 2013 EN No Comments

Assets Up at UBS Wealth Management Americas

NEW YORK–Robust market performance helped to boost invested assets per adviser in UBS AG’s (UBS, UBSN.VX) Wealth Management Americas unit for the first quarter.

But even with more money to manage, revenue for the unit still declined during the first three months of the year.

At UBS Wealth Management Americas, invested assets increased by $48 billion to $891 billion from the fourth quarter. The company attributed about $39 billion of that increase to positive market performance and the rest to strong inflows. Invested assets per adviser rose to $126 million, up 5% from $119 million …

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Tuesday, April 30th, 2013 EN No Comments

Slower world growth gives commodity investors cold feet

LONDON/NEW YORK: Investors are staying away from commodities, fearing that the worst is yet to come after prices plunged in April on signs of slower world economic growth.

Wealth managers have been pulling money from commodities since the start of the year, culminating in a major sell off in April when investors dumped gold, copper and oil.

Poor economic data from China, Europe and the United States has hit global growth forecasts, making investors reassess the demand for raw materials.

The 19-commodity Thomson Reuters-Jefferies CRB index

was down almost 6 percent following April’s rout and is still off some 4 percent since the start of the year.

Investors say it is too soon to pick up a bargain.

“We are neutral to mildly underweight commodities now and we are not exactly itching to get straight back in there,” said Johan Jooste, chief market strategist at Merrill Lynch Wealth Management, EMEA, which manages some $1.76 trillion globally. “The macro story is just less supportive of commodities now.”

Some $9.02 billion was pulled from commodity sector mutual funds in the month to April 26, according to data from research firm EPFR Global. This followed $8.5 billion of redemptions from commodity exchange traded products (ETPs) globally in the first quarter, according to BlackRock data.

“We are not out of the woods yet,” said Andrey Kryuchenkov, an analyst at VTB Capital. “We will still need persistent physical interest in order to underpin prices and limit the downside at times when investors remain utterly unconvinced.”

Commodities are particularly sensitive to economic news about China, a manufacturing powerhouse that also requires huge amounts of raw materials to build its infrastructure.

China’s economic recovery unexpectedly stumbled in the first quarter of 2013, with growth sliding below the 8 percent forecast as factory output and investment spending slowed.

“The biggest concern right now in commodities is that the economic slowdown in China is going to be far more severe than anticipated,” said Jeff Sica, chief investment officer at New Jersey-based Sica Wealth Management, which oversees more than $1 billion in assets.

“This slowdown is going to shake a lot of people up.”

Sica is currently underweight commodities and short copper, which is particularly sensitive to Chinese demand. China is the world’s biggest consumer of copper, accounting for 40 percent of demand. Managers say that without strong growth from China, commodities will not perform well and China’s key export markets are struggling.

In Europe, Germany’s business sentiment fell in April for a second consecutive month, missing even the lowest estimate in a Reuters poll, while orders for long-lasting U.S. manufactured goods recorded their biggest drop in seven months in March.

SAFER BETS

Multi-asset managers have been switching from commodities into equities after a good run for stocks in the first quarter.

But investors are still favouring “defensive” stocks, as an element of caution remains. These pay good dividend yields that should continue to do well in a recession because their performance is less dependent on economic growth.

“Investors are preferring the safer bets in risky assets,” said Koen Straetmans, senior strategist at ING Investment Management in the Netherlands, which manages some 183 billion euros of assets worldwide. The group is overweight equities and real estate but neutral on commodities.

Commodity-focused fund managers are pinning their hopes on a rebound in the second half of 2013. They see fresh stimulus measures from central banks driving inflation, which would be supportive for commodities, particularly gold.

However, multi-asset managers and analysts are sceptical as to how much impact more stimulus will have. They are not expecting inflation to pick up this year, point out that the U.S. inflation-linked bond market already pricing it lower.

“From a tactical viewpoint, and maybe even medium term, commodities wouldn’t be an area where we feel we want to take advantage of what might be perceived cheapness,” Jooste said.

“We like being long equities and it’s doing well, but there is still some scepticism built in about an upturn in the second half, and that’s an argument we would concur with.”

Ashok Shah, investment director at London Capital, which has some $3.7 billion under management, expects the economic environment to deteriorate. In the short term he sees a stronger possibility of a deflationary rather than an inflationary environment.

“Buy blindly and hold won’t work as global growth continues to be lacklustre and Europe in particular remains under pressure,” he said. “The outlook for aluminium and copper continues to be incredibly difficult.”

Sica is also bearish. He said oil could go into another “hopeless range”, similar to the one before the slump, with Brent stuck at between $100 and $105 a barrel, and U.S. crude languishing at between $90 and $95 a barrel.

“Copper looks even more doomed than oil, truly pointing to the depths of the economic slowdown in China now,” he said.

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Monday, April 29th, 2013 EN No Comments

Avoid Indian Overseas Bank, says Baliga

Ambareesh Baliga, Managing Partner- Global Wealth Management at Edelweiss Financial Services advises to avoid Indian Overseas Bank (IOB) at current levels.

Baliga told CNBC-TV18, “The numbers of Bank of Maharashtra are quite good and especially with the asset quality improving there could be some interest from investors in this stock. But IOB even if one sees the last couple of quarter’s assets has been an issue and it has really shown up this time. This is a clear avoid.”

IOB touched its 52-week high Rs 94.85 and 52-week low Rs 62.20 on 07 January, 2013 and 29 April, 2013, respectively. Currently, it is trading 32.84 percent below its 52-week high and 2.41 percent above its 52-week low. Market capitalisation stands at Rs 5,886.49 crore.

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Monday, April 29th, 2013 EN No Comments

HUL may settle around Rs 475, says Baliga

HUL may settle around Rs 475, says Ambareesh Baliga, Managing Partner- Global Wealth Management at Edelweiss Financial Services.

Baliga told CNBC-TV18, “Hindustan Unilever (HUL) numbers were much better than what most of us expected but then clearly the market would not really like this sort of volatility in earnings from the leaders. So possibly after this knee-jerk reaction which we have seen today HUL should settle closer to about Rs 475 over a period of time.”

On April 29, Hindustan Unilever (HUL) closed at Rs 497.60, up Rs 32.45, or 6.98 percent. It has touched an intraday high of Rs 499.80 and an intraday low of Rs 457.90.

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Monday, April 29th, 2013 EN No Comments

Nedbank announced as new on-board Lounges sponsor for Steam Packet vessels

The Isle of Man Steam Packet Company is pleased to announce leading wealth management company, Nedbank Private Wealth, as the new sponsor of its on-board lounges for 2013 and 2014.

Nedbank Private Wealth, headquartered in Douglas, is a trusted brand across the UK, Channel Islands, UAE and South Africa, with a long and well-respected heritage. It will sponsor the Premium and Executive Lounges on board both Manannan and Ben-my-Chree, where passengers can enjoy a wide range of facilities and relax in comfortable tabled and lounge seating areas.

The Executive Lounges are available to members of the Steam Packet Company’s Executive Club, while the Premium Lounges are available to all travellers who want to upgrade at the time of making their booking. The sponsorship package includes Nedbank Private Wealth branding within the lounges, along with the logo appearing on the back of Executive Club membership cards.

Steam Packet Marketing Manager, Renée Caley, said: ‘We are delighted that Nedbank Private Wealth has offered its support for our Premium and Executive Lounges for the next two years. The lounges are consistently popular and offer our regular passengers a range of benefits including upgraded seating, complimentary refreshments, newspapers and magazines, plus complimentary Wi-Fi.’

Cathy Cowin, Senior Marketing Executive at Nedbank Private Wealth, added: ‘We are pleased to take up this opportunity to promote Nedbank Private Wealth following our rebrand in late 2012. Our client service approach to wealth management is to make banking and investment as seamless as possible for the client, which is why this sponsorship fits so well with our culture. The lounges make crossings as comfortable, enjoyable and effortless as possible for passengers and this offering resonates with our own at Nedbank Private Wealth.’

Photo Caption: (From l-r) Lisa Broadbent and Renée Caley of Isle of Man Steam Packet Company, and Cathy Cowin of Nedbank Private Wealth.

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Monday, April 29th, 2013 EN No Comments

Cricketer Paul Collingwood sues Melbourne financial advisor

Former England cricketer Paul Collingwood is suing a Derbyshire financial adviser to the stars

– accusing him of losing more than £300,000 of their savings through risky investments.

  1. collingwood2

    Former England cricketer Paul Collingwood

Paul Collingwood, 36, who retired from international cricket in 2011, and his wife Vicky, say they invested more than £650,000 through Roderick Langham, of Melbourne.

Now they are seeking their money back from Mr Langham, and the investment company of which he was managing director, Didsbury, Manchester-based Sigma Wealth Management Ltd.


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They say more than £400,000 of their savings were put into “high risk and unregulated collective investment” funds which “did not suit their risk profile”, despite Mr Collingwood insisting he told Mr Langham he “could not afford losing his capital”.

Each of the investments recommended by Mr Langham and his company to the cricketer and his wife “depreciated in value”, the writ alleges.

Sigma, which according to its website counted Premier League footballers Shola Ameobi and Fabrice Muamba of Bolton Wanderers as clients, as well as the Collingwoods, is now, along with Mr Langham, facing a High Court damages claim from the cricketer and his wife.

In the writ, the Collingwoods, who have two children and live at in Stocksfield, Northumberland, say they first approached Mr Langham in 2005.

Mr Collingwood claims he told the adviser he was “looking for capital growth and could not afford any risk of losing his capital as he and Vicky were looking to start a family and therefore they wished to ensure that their standard of living would remain relatively the same.”

The couple say they relied on Mr Langham’s advice on investments, tax and pension planning and claim that they told the adviser they were “looking for capital growth and were not looking to take any unnecessary risk with their investments, to ensure they had monies available to provide for and look after their children.”

By that time, in 2008, the couple’s children were aged 20 months and three months.

The couple claim much of their money was put into “high risk unregulated collective investment” funds which “did not suit their risk profile” and subsequently fell in value.

The Collingwoods claim that, had it not been for Mr Langham’s “negligence, breaches of contract and breaches of the Financial Services Authority rules”, they would not have agreed to their money being put to such use or “would have entered into investments which complied with their instructions.”

Sigma and Mr Langham’s defence to the action was not available from the court. Mr Langham has said that liability in the case is denied and that he will be fighting the Collingwoods’ claims, which have yet to be tested in evidence before a judge.

Paul Collingwood made his first appearance for England in One Day International cricket in 2001 and made his Test match debut in 2003. In 2010 he led the England team to their first ICC Trophy, the 2010 World Twenty20. He is England’s most capped ODI cricketer and leading ODI run scorer.

He announced his retirement from Test cricket in January 2011, during the 5th Test of the 2010–11 Ashes series.

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Monday, April 29th, 2013 EN No Comments

Initiate short positions on Nifty below 5850: Anu Jain

In an interview to CNBC-TV18, Anu Jain, Sr Vice President of IIFL Private Wealth Management spoke about her reading and outlook for the market.

Below is a verbatim transcript of the interview:

Q: What about you, a close below what level would mean the traders should initiate short positions on the index?

A: I am looking at 5,850 but on the Bank Nifty I am looking more at 12,300-12,315 because after having moved in such a stellar fashion over the last ten days, some kind of a sideway movement is expected on Bank Nifty. Basically, we have put a stop loss to our longs and let them run till the stop loss is not hit. Short call would be taken only if 12,300 on the Bank Nifty is broken more than the Nifty because the Nifty can consolidate.

As we have seen on Friday, the results of other stocks have not let the Nifty drift down much more than what it could have on Friday. So, individual stock calls for longs will exist. Nifty 5,850 odd down would give an open up for about 70-80 points on the downside.

For Bank Nifty, the biggest constituent out there is the public sector undertaking (PSU) banks and how they move over the next two weeks. We saw Vijaya Bank ’s results on Friday and a lot of constituents of the PSU bank sector can make that 12,300 sacrosanct so want to see how that holds out. If that holds out, there could be a little more steam. Obviously, there is Reserve Bank of India (RBI) rate cut, there are other political influences this week and next week but I think watching that level would be crucial.

Q: Do you sense any vulnerability in some of the largecap names like Reliance Industries Ltd (RIL) or Hindustan Unilever Ltd (HUL) on Friday?

A: HUL has been a non-performer for a very long time so I am not looking at that as an indicator. Though fast moving consumer goods (FMCG) and pharmaceuticals kind of leading the pack despite the volatility, I do not think I am looking at HUL as any indicator.

On the energy sector side, yes RIL was giving some hopes especially on the expiry day we saw a short covering rally, which took it about 2.5 percent higher. So, that has been a disappointment. If it breaks down below that Rs 790-785 levels you could see probably some more weakness coming into it.

However, what was heartening on the other side was that results of something like an Idea Cellular , Maruti Suzuki India , LIC Housing Finance . Technically they have been crossing crucial levels so you could see them moving much more than what they are at the right moment currently. So that could give a balanced strength to the market when the bank is correcting. So, that could balance it out. Nifty may in eventuality not do something which is very sharp.

Q: Give us a quick chart check if you have looked at Hexaware Technologies ?

A: Hexaware Technologies has got the resistance in that Rs 87-88 so if it opens there and it takes in the supply, which is existing at that level then Rs 94 is exactly where you all are targeting on. That is the technical levels as well. So, you will see it moved to that zone but Rs 87-88 continues to be a resistance zone.

Q: You were talking about the fillip that many stocks got because of earnings, LIC Housing Finance is one such stock, how would you approach it today?

A: The 50-day moving average of LIC Housing Finance was around Rs 235 level. This is the stock which was sometime back at Rs 290 and then went and tested Rs 209. It had a massive fall after the last results.

On a result day, it crossed the 50-day moving average where it was getting a lot of resistance in the last one and a half month at about Rs 235, held that and closed comfortably over that. So, next target would obviously be the 200 day moving average (DMA) which is around that Rs 257 level. That is going to get some crucial resistance out there but if it can manage to hold Rs 257 then it gets into that bullish territory where it can test the previous high.

I would be bullish at this level. Even if it drops a percentage or two, I would still buy this counter and would probably hold it for a target of Rs 257 as the first one. So buy on dips is the best policy for this stock.

Q: Indiabulls Real Estate was up 20 percent last week, what is the call there?

A: The real estate sector has taken quite a beating. I would be skeptical about it because though Indiabulls Real Estate has moved up, Unitech and DLF are still showing weakness. I would probably not enter this stock or this sector at the moment.

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Monday, April 29th, 2013 EN No Comments

Traders Reserve Launches "The Wealth Shield, A Wealth Management Guide …


GAITHERSBURG, Apr 28, 2013 (GLOBE NEWSWIRE via COMTEX) —
via PRWEB – Most investors today are unprepared to survive another stock market collapse, financial crisis or, worse, another global economic meltdown. Yet, despite the return of the stock market to all-time highs, and with the ongoing global economic uncertainty, too many investors are making the same mistakes when investing their money.

In their new book, “The Wealth Shield,” the editors of TheWealthShield.com, Jim Woods, John Hutchinson and Tom Essaye, educate and inform investors how to use a simple 6-Step Plan to protect their money and increase their wealth. “The Wealth Shield” is available for free on Amazon.com until May 1, during the Amazon.com free promotional period, and then the e-book is priced at $2.99. (Publisher, Traders Reserve, LLC, sold through Amazon.com Digital Services, Inc.)

John Hutchinson, portfolio manager for Traders Reserve says, “‘The Wealth Shield’ contains information every investor needs right now. Even if they can use only a few of the concepts in the book, the simple, 6-Step Plan will help investors weather any financial storm, protect their money, and avoid suffering huge portfolio losses. Whether someone is a new investor or an experienced one, we want to educate and inform investors how to increase their wealth through a smart, alternative, investment strategy.”

The Wealth Shield, A Wealth Management Guide: How to Invest and Protect Your Money from Stock Market Crashes, Financial Crisis and Global Economic Collapses teaches investors how to use separate “Money Blocks” so they can: (1) Safeguard their money from crisis, collapse and economic uncertainty, (2) Protect their money against sticky-fingered governments taking more in new and hidden taxes, (3) Profit from the stock market with a new investing approach, and (4) Keep their assets liquid, so they can be easily converted to cash in any financial crisis.

In summary, The Wealth Shield strategy will protect investors’ portfolios with capital preservation; income; hard, liquid assets; and capital appreciation no matter which way the stock markets move, and no matter what happens in the economy. “The Wealth Shield, A Wealth Management Guide: How to Invest and Protect Your Money from Stock Market Crashes, Financial Crisis and Global Economic Collapses” is available through Amazon.com Digital Services, Inc.

For an interview with one of the authors, please call:

Darlene March – March Media Relations – 714-887-8021. Email: darlene(at)marchmediarelations(dot)com

Visit: http://www.thewealthshield.com

Jim Woods – Editor-at-Large, Traders Reserve

Jim Woods has covered the economy and stocks for nearly two decades. His varied experience as a financial journalist, stockbroker and money manager provides him with unique insights into the complex world of investing. He is a frequent contributor to many financial publications/websites including Main Street Investor, Traders Reserve, MarketWatch, Street Authority, Trading Authority, Investorplace.com, The Slant, Eagle Publishing, and many others. He is the co-author of the book Billion Dollar Green: Profit from the Eco Revolution.

John Hutchinson – Portfolio Strategist, Editor of “The Wealth Shield,” Traders Reserve

John is also Managing Partner at Traders Reserve and the editor of Main Street Investor and has been involved with the stock and currency markets for over 12 years, managing investments, developing portfolio models and teaching technical and fundamental analysis, and risk management techniques. He is the developer of the IRA Wealth Accelerator, the Millionaire Blueprint and the Time Diversification Portfolio Strategy.

Tom Essaye – Market Strategist, Traders Reserve

Tom Essaye began his career on the trading floor of the NYSE in 2002 with Merrill Lynch’s Institutional Equity trading division, and later became the head trader at a commodity and natural resource focused global macro hedge fund. He has built over a decade of trading expertise in precious metals, agricultural commodities, energy, and natural resource equities, as well as and stocks, bonds and currencies. In 2012, he began providing daily commentary, comprehensive macroeconomic and market analysis direct to financial advisers, hedge funds and other financial professionals and investors.

About Traders Reserve:

Traders Reserve, LLC, is a publisher of online stock market educational and advisory products and services for self-directed investors and traders including, The Wealth Shield, The Wealth Accelerator, Michael Shulman’s Options Income Blueprint, Income Edge and Investing Mastermind, and Jamie Dlugosch’s Earnings Player. Traders Reserve brings to investors and traders “best in class” financial education and advisory products and services.

After observing first-hand how investors and traders struggled with complicated trading services that made big, unrealistic performance promises, Traders Reserve was formed with the goal of helping “frustrated traders” by producing a new type of investing and trading services that would provide simple, but successful, trade management combined with the skilled trade recommendations of a professional institutional trader.

Visit: http://www.thewealthshield.com

This article was originally distributed on PRWeb. For the original version including any supplementary images or video, visit http://www.prweb.com/releases/2013/4/prweb10663034.htm







        CONTACT: MARCH MEDIA RELATIONS
                 Darlene March
                 Darlene@marchmediarelations.com
                 (714) 514-3736
        


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Sunday, April 28th, 2013 EN No Comments

SUCCESS & SERVICE: Wealth business gets high marks

A Modesto company, Valley Wealth Inc., ranked 43rd among the nation’s top 50 emerging wealth management companies, according to Forbes.

The company, started by Jeff Burrow and Jason Gordo in March 2008, expanded its managed assets from $170 million in 2011 to $280 million by the end of 2012, and has surpassed the $300 million mark since the first of the year, Gordo said.

“It’s quite an honor,” he said of the Forbes ranking. “It’s recogni-tion we didn’t plan or hope for. We’re still sitting here looking at each other and wondering, ‘How did that happen?’ We just put our heads down and got to work for the past five years.”

About half of their business comes from managing company retirement plans. The rest is managing private wealth.

“Couples who stayed married, didn’t move from home to home or toy for toy, and grew their wealth slowly,” Gordo said. “The millionaire next door, and right here in Modesto.”

• • •

Officers from area law enforcement agencies were honored in Ripon last week by the California Office of Traffic Safety and Mothers Against Drunk Driving for the numbers of arrests made and for their efforts in DUI awareness.

DUI checkpoint awards for Stanislaus County went to records clerk Lilia Franco of the Ceres Police Department, Sgt. Neil Cervenka of the Turlock PD, officer Daniel Peters of the Oakdale PD and Chief Tori Hughes of the Patterson PD. Ripon’s Volunteers in Police Service team was among San Joaquin County’s winners.

Officers honored for the most DUI arrests in 2012 included the California Highway Patrol, Modesto area’s Zachary Yosh (89), John Buxie (79), Eldon Sousa (68), Damien Blue (67), Aaron Norseen (65), and Clinton Young and Jonathan Box (64 each). A dozen others from the department ranged from 58 to 32 DUI arrests. John Mahaney led Sonora’s CHP office with 76.

Local police departments were led by Modesto’s David Wallace (25), Ceres’ Chris Melton (54) and James Riley (52), Newman’s Jason Gosselin (10), Patterson deputy Randy Watkins (18), Turlock’s James Brewer (21), Ripon Sgt. Stephen Meece (17), Riverbank’s Gary Vernon (16), Sonora’s Andrew Theodore (40) and California State University, Stanislaus’ Aimee Powers (18).

• • •

Ceres American Legion Post 491 and Art DeWerk, the city’s city manager/police chief/director of public safety, honored outstanding public safety personnel for 2012.

Detective Arthur Hively and officer Brittney England shared Police Officer of the Year honors. Hively investigates high-tech crimes, among other things, and spends countless hours of his own time staying current on technology. England led the staff in arrests and was honored recently by Mothers Against Drunk Driving for DUI arrests. She was the department’s Reserve Officer of the Year in 2011.

Engineer Bret Presson was named Firefighter of the Year and is recognized as one of the top training officers in the county. Lilia Franco, records clerk II, received the Support Person of the Year award for her skills in handling records and producing information used in grant applications. And David McCann was named Volunteer of the Year for his work as program coordinator.

• • •

Modesto Junior College students Joseph Enos, James Moak and Heather Wilson were awarded $2,000 worth of scholarships by Alpha Gamma Sigma, the academic honor society and service organization of the California Community Colleges. Enos and Moak were recognized for academic excellence and Wilson for community service.

• • •

A group of nurses and other staff members from Doctors Medical Center‘s labor and delivery team participated in the Ragnar Relay Race in Huntington Beach last weekend, raising more than $2,000 for the Leukemia Lymphoma Society.

Doctors and other nurses helped by sponsoring the local runners, who logged more than 200 miles. Labor and delivery nurses participating were Cheryl Aloisio, Jennifer Mack, Jenn Cannon, Lori Peters, Katrina Aguirre, Jenna Machado, Esther Riggs, Janae Shinn and Sandra Calderon. They were joined by postpartum nurse Danielle Rojas, first-grade teacher Tara Silva, resident physician Christine Battaglia, drivers and LD nurses Kellye Caton and Gina Nord.

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Sunday, April 28th, 2013 EN No Comments