Archive for June, 2013

Client Insights Dinner Held by Guidant Wealth Advisors


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Client Insights Dinner Held by Guidant Wealth Advisors

PRWEB.COM Newswire

Palatine, IL (PRWEB) June 30, 2013

Guidant Wealth Advisors, a financial services firm specializing in wealth management and holistic fee-based financial plans, is pleased to share their on-going commitment to providing the highest-quality financial guidance and personalized client services. Since opening its doors to Chicago’s northwest suburbs in 1993, Guidant has served as vigilant guides assisting clients to make sound decisions about their wealth and legacy.

Frank T. Patzke, CFP®, M.B.A., R.M.A. is the founder and President of Guidant Wealth Advisors, a Registered Investment Advisory firm. Based in Palatine, Illinois and serving the surrounding communities including: Arlington Heights, Barrington, South Barrington, Northbrook and a nationwide client list, the firm is comprised of eight individuals and serves over 250 clients.

“We wanted to take the time to discover what is on our clients’ minds and to develop new insights into our client relationships.” said Patzke. “We enjoyed meeting with and listening to a handful of clients as they discussed their ever-evolving financial needs. We always want our services to exceed our clients’ expectations and we appreciate their feedback as we continually strive to improve our services.”

About Guidant Wealth Advisors

Guidant Wealth Advisors, now celebrating its 20th anniversary, offers responsive and highly personal financial guidance from knowledgeable and reliable professionals.

  • Specializing in wealth management for individuals and families with assets of one to ten million
  • Fee-based financial planning for investment management that is sensitive to each client’s unique financial needs
  • Offering integrated strategies for advanced retirement planning
  • Providing a unique survivorship program to assist with settling estates

Securities offered through LPL Financial, Member FINRA / SIPC.

Investment advice offered through Guidant Wealth Advisors, a registered investment advisor and separate entity from LPL Financial.

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Read the full story at http://www.prweb.com/releases/2013/6/prweb10883561.htm

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Sunday, June 30th, 2013 EN No Comments

Wealth management opens doors for banks

THE rise of China’s middle-class has triggered demand for customized wealth
management services, providing opportunities for commercial banks to earn more
income, a Lujiazui Forum panel said yesterday.

“Individuals in China had 80 trillion yuan (US$13 trillion) worth of
investable assets last year, which expanded by an average annual rate of 21
percent from 2008,” said Zhang Yun, vice chairman of the Agricultural Bank of
China.

“By the end of 2012, the top-four banks had more than 120,000 private banking
customers and managed more than 1.7 trillion yuan of assets,” Zhang added.

He said the 80/20 rule has no longer applied in China. At present, 80 percent
of financial assets in the country are owned by 15 percent of the population.

“Private banking serves a small group of customers, however this small group
has a very large need (for wealth management services),” said Ma Jian, general
manager of private banking at the Industrial and Commercial Bank of China. “The
small platform of private banking could even leverage the restructuring of the
whole banking sector.”

Investment needs and the strategic transformation of banks fostered the rapid
growth of wealth management business in China. The nation’s 18 major banks have
made 246.4 billion yuan for their clients with an average return of 4.11 percent
annually, the Shanghai bureau of the China Banking Regulatory Commission said in
a report yesterday.

Domestic and overseas banks issued 27,565 personal wealth management products
last year in Shanghai, up 10 percent from a year earlier. However, the funds
they attracted dropped 9.7 percent to 3.34 trillion yuan.

Outstanding products stood at 576 billion yuan at the end of 2012, a 37.5
percent yearly increase. The scale of wealth management products in Shanghai
accounted for about 14 percent of the national total, the report
said.

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Sunday, June 30th, 2013 EN No Comments

Sponsored survey: Deutsche Asset & Wealth Management

Exchange-traded funds (ETFs) are a genuine bright spot in the equity markets today. While they are still a relatively new product in Asia compared to Europe and North America, there are signs that the product has come of age. This year, the Asian ETFs survey – conducted by Asia Risk and Deutsche Asset Wealth Management – samples a broader range of investors and again identifies key trends and themes, which include increased investor knowledge and appetite

Over the past 12 months, inflows into Asia-Pacific exchange-traded fund assets have risen by more than 50% to reach $136 billion. Some of this growth can be explained by a large number of new listings in Asia, up from 506 to 535 ETFs. While impressive, this is still less than half the number of ETFs listed in the US and less than one-third of those listed in Europe – highlighting the untapped future potential.

For the third year running, the Asia Risk and Deutsche Asset Wealth Management Asian ETFs survey identifies key investor trends to better enable distributors to serve their clients. This year the survey has been expanded to cover a broader cross-section of investors.
Two key themes emerged from the 2013 survey – investor knowledge of ETFs has increased and investors have an appetite for an even greater array of ETF products linked to various asset classes.

Related articles

Asian-listed ETFs
One of the most encouraging findings was that 63.9% of investors, compared to 46.8% last year, said they consider Asian-listed ETFs as they trade in parallel trading hours to their respective Asian markets.

Fewer investors responded that they do not consider Asian-listed ETFs, which is due to there being fewer Asian-listed ETFs compared to US and European – down to just 3.3% compared to 14.4% last year. However, Marco Montanari, regional head of passive asset management at Deutsche Asset Wealth Management, believes providers have delivered on what clients wanted over the past year.

“It is interesting, as there are many new products in Asia this year and fewer investors are noting a lack of products. Asia is a younger market, so there is more demand and the rate of growth is stronger than in more developed markets. There are now more China-linked products, more frontier Asia and more Asia fixed-income products.”

Montanari cites the example of Germany, where more than 1,000 ETFs are listed compared to about 100 in Hong Kong.

Additionally, just 4.9% respondents said they do not consider Asian-listed ETFs due to lower trading volume, down from 18% last year, highlighting a better understanding of the Asian ETF market.

“Volumes are increasing and investors are learning that liquidity isn’t just driven by volumes on ETFs, but also the underlying liquidity of the market. It shows the market is maturing,” says Montanari.

The role of market-maker
A further positive development is highlighted by 76.7% of respondents who understood the role of a market-maker compared to 65% last year.

Tracking performance
Tracking performance of an ETF versus its benchmark has often been misunderstood but, in this area too, investor knowledge has improved.

When investors check the valuation of an ETF, many look at the ETF’s closing price on exchange but, if an ETF is, for example, linked to Japan but trading in Singapore when the Japan market closes, the Singapore market still has a few hours left to trade so the price will be based on market-makers’ estimation of where the market could trade based on correlation with other markets.

“If the trade in Singapore is at 4:00pm and markets rally in the last hour, then the closing price will be very high compared to the close in Japan few hours earlier. Investors may see a tracking error unless they look at the net asset value (NAV), which is a better indication than the closing price due to different time zones. This can be even more pronounced when the ETF is listed in Europe and tracks Asia,” says Montanari.

Last year, 78% of investors were looking at the closing price, down this year to 63%. In 2012, 22% of investors were looking at the NAV versus 36%, so more investors are looking at the right parameters. “In the past, too many investors were considering that ETFs were stocks instead of funds,” says Montanari.

Liquidity
An ETF’s liquidity is dependent on the underlying market liquidity, not just the liquidity of the ETF, and 42% of respondents confirmed they understand this, up from 35% last year.

Growth potential and exposure
The survey also reaffirmed the enormous growth potential for ETFs in Asia with 62% of respondents saying they would be increasing their exposure to ETF investments. Investors were also positive about a broad variety of products they wanted to see developed from smart beta ETFs, equally weighted indexes and Asian bonds.

“This is a strong example that the market is in a growth phase in Asia,” says Montanari. “The breakdown showed that over 90% of retail investors want to increase their investment in ETFs. This is outstanding and shows the potential of this product with retail investors, a client base that represents around 50% of the investor base in the US but is currently very low in Asia.”

Investor trends
Japan has been a big investor theme over the past six months, and Montanari says that leverage and inverse ETFs have recently been successful in Japan and Korea, which could also drive their development into other markets. Korea is also launching the first synthetic ETF later this year.

In Hong Kong and Singapore, meanwhile, the market has moved on from the physical versus synthetic debate in the ETF market. “There has been considerable education and transparency implemented so we have seen this mentioned less recently due to improvements by providers and changes from regulators like increased collateralisation of synthetic ETFs,” he says.

Furthermore, more than 90% of volumes in Hong Kong are on China-A shares underlyings and the most-traded ETF in the market is synthetic. “While structure is important, other factors such as tracking error, underlying provider and liquidity are of equal importance. It’s a mix of characteristics that drives the decision of investors,” says Montanari.

Abenomics has also led to significant volumes on Japan this year, mostly on currency hedged ETFs such as euro hedged products linked to MSCI Japan using foreign exchange forwards, according to Montanari.

“There has been less interest in non-currency hedged products as the currency has depreciated so, even if there’s a 20% profit on the market, you may lose 10% on the currency. The opportunity to mitigate currency risk has been appealing to investors looking for Japan exposure.”

The future
While the addition of a broader range of ETFs is appealing to investors, some restrictions do remain. For example, for fixed-income ETFs, many regulators require the country to have investment-grade status before they will allow such products to be launched. “This is one of the reasons why there is a lower number of Asian fixed-income products compared to the West. It is linked to a fear that a country may default, which would lead to a loss of investors’ money. But this is changing as more countries are getting an investment-grade rating. In the end, ETFs are just wrapper so they need a large liquid underlying market too,” Montanari says.

Additionally, if there is a cyclical change from bonds, the addition of inverse bond ETFs could also be beneficial to the market, and Montanari is also sanguine about the prospect of other fixed-income products.

“If rates rise, then inflation-linked bonds could become more popular for protecting against the risk of inflation. Also inverse fixed-income ETFs. We already have short ETFs on bonds, and innovations like these provide investors with the opportunity – independent of the market direction – to implement their views,” he says.

The flexibility of ETF investments, regardless of market conditions, means their future could be bright indeed, according to regulators.

The Monetary Authority of Singapore (MAS) is very positive about their development. ‘’With a total of 68 listings, equity-linked ETFs currently make up 75% of the ETF market in Singapore. In comparison, fixed-income and money-market ETFs make up 19% of the offerings available. We see potential for more offerings in the Asian fixed-income and currency sectors, as these are the core strengths of Singapore’s financial centre,” says an MAS spokesperson.

A recent speech by Alexa Lam, deputy chief executive of the Securities and Futures Commission in Hong Kong, also provided clues as to the future direction of Hong Kong’s ETF market. “As interaction between the mainland and Hong Kong increases and the two markets become more closely integrated, I believe we will see more ETFs that have a cross-border element. ETFs occupy a unique position in Mainland-Hong Kong financial co-operation.”

Montanari believes that, this year, investors have seen the flexibility of ETFs even when the markets have been driven less by fundamentals. “We have the highest recorded assets under management, but it is not yet the biggest market in Asia. Markets are currently being driven by macro events more than fundamentals such as the Federal Reserve stopping its bond-buying programme, so ETFs are a useful product to express the implications of this policy. But next year investors may be expecting this to change and for fundamentals to be more important,” he says.

View the full article with selected survey results presented as graphs in PDF format

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Saturday, June 29th, 2013 EN No Comments

Morgan Stanley Completes Acquisition of Smith Barney Venture

Morgan Stanley (MS) completed its
purchase of a brokerage joint venture with Citigroup Inc.’s
Smith Barney, capping a four-year effort to more than double the
size of its wealth-management division.

Morgan Stanley purchased the 35 percent of the business it
didn’t own from Citigroup, the New York-based company said
yesterday in a regulatory filing. The firm said last week that
it would pay $4.7 billion and take a $200 million charge in the
second quarter related to the purchase.

Chief Executive Officer James Gorman, 54, struck a deal in
2009 to gain a controlling stake in the venture that merged
Morgan Stanley’s Dean Witter franchise with Citigroup’s Smith
Barney unit. The business, renamed Morgan Stanley Wealth
Management last year, is the world’s largest brokerage, with
$1.79 trillion in client assets and 16,284 advisers on March 31.

“This has been an incredibly challenging five-year period
not just for Morgan Stanley, but for our industry and the
country, frankly, and it’s exciting to be stepping forward with
something as dramatic as this acquisition,” Gorman said in a
video posted on the firm’s website. “Right now, what we need to
do is focus on making it work.”

To contact the reporter on this story:
Michael J. Moore in New York at
mmoore55@bloomberg.net

To contact the editors responsible for this story:
David Scheer at
dscheer@bloomberg.net;
Christine Harper at
charper@bloomberg.net

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Saturday, June 29th, 2013 EN No Comments

Wealth management opens doors for banks

The rise of China’s middle-class has triggered demand for customized wealth management services, providing opportunities for commercial banks to earn more income, a Lujiazui Forum panel said on Friday.

“Individuals in China had 80 trillion yuan (US$13 trillion) worth of investable assets last year, which expanded by an average annual rate of 21 percent from 2008,” said Zhang Yun, vice chairman of the Agricultural Bank of China.

“By the end of 2012, the top-four banks had more than 120,000 private banking customers and managed more than 1.7 trillion yuan of assets,” Zhang added.

He said the 80/20 rule has no longer applied in China. At present, 80 percent of financial assets in the country are owned by 15 percent of the population.

“Private banking serves a small group of customers, however this small group has a very large need (for wealth management services),” said Ma Jian, general manager of private banking at the Industrial and Commercial Bank of China. “The small platform of private banking could even leverage the restructuring of the whole banking sector.”

Investment needs and the strategic transformation of banks fostered the rapid growth of wealth management business in China. The nation’s 18 major banks have made 246.4 billion yuan for their clients with an average return of 4.11 percent annually, the Shanghai bureau of the China Banking Regulatory Commission said in a report yesterday.

Domestic and overseas banks issued 27,565 personal wealth management products last year in Shanghai, up 10 percent from a year earlier. However, the funds they attracted dropped 9.7 percent to 3.34 trillion yuan.

Outstanding products stood at 576 billion yuan at the end of 2012, a 37.5 percent yearly increase. The scale of wealth management products in Shanghai accounted for about 14 percent of the national total, the report said.

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Saturday, June 29th, 2013 EN No Comments

Indian banks should move wealth management services to subsidiary: cbank

[MUMBAI] Indian banks should split wealth management and investment advisory services to avoid conflict of interest as well as address mis-selling of financial products, by creating a subsidiary, a draft report by a central bank panel said.

The banks will need to get the Reserve Bank of India’s approval to create subsidiaries, which would be then registered with the Securities and Exchange Board of India (SEBI), the panel proposed on Friday.

“To address the issue of conflict of interest arising from the single entity conducting both the activities of advisory/fund management as well as marketing, it is proposed to segregate the two functions,” the report said, adding the bank should have an ‘arm’s length’ relationship with its subsidiary.

The report also proposed the RBI should continue to supervise the bank’s activities done through the subsidiary.

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Friday, June 28th, 2013 EN No Comments

China Bad-Loan Alarm Sounded by Bank Spread Jump

Borrowing costs for Chinese banks have surged the most in at least six years this month as rating companies say a cash crunch threatens to swell bad loans.

The yield spread for one-year AAA bank bonds over similar-maturity sovereign notes jumped 56 basis points so far this month to 163 basis points, the most in ChinaBond records going back to 2007. The similar AA gap widened 59 basis points to 188. Even as China Construction Bank Corp. (939) President Zhang Jianguo said yesterday cash conditions have normalized, the benchmark seven-day repurchase rate was fixed at 6.85 percent, almost twice the 3.84 percent average for this year.

Money-market rates touched the highest level last week since at least 2003, prompting three of the largest rating agencies to warn banks may run out of cash to pay investors in their wealth management products and to extend new loans, increasing the risk their customers will default. The People’s Bank of China is seeking to wring speculative lending out of the system after total credit approached 200 percent of gross domestic product, according to Fitch Ratings.

“There could be unintended consequences from the central bank’s approach,” said Liao Qiang, a Beijing-based director at Standard Poor’s. “We expect some deleveraging at banks’ interbank and wealth management businesses to unfold. Credit growth would slow. This could pressure banks’ asset quality.”

Swaps, Bonds

The one-year interest-rate swap, the fixed cost needed to receive the floating seven-day repurchase rate, touched an all-time high of 5.06 percent on June 20, according to data compiled by Bloomberg. The one-day repo rate surged to a record 12.85 percent the same day, according to a daily fixing announced by the National Interbank Funding Center.

The yield on 10-year government bonds rose 13 basis points to 3.60 percent last week, while the one-year borrowing cost jumped 51 basis points to 3.61 percent, inverting the so-called yield curve for the first time in ChinaBond data going back to 2007. The 2023 yield closed at 3.53 percent yesterday.

Bad loans at banks including Industrial Commercial Bank of China Ltd. have increased for six straight quarters through March 31, the longest streak in at least nine years.

Chinese commercial banks’ outstanding non-performing loans rose 20 percent to 526.5 billion yuan ($86 billion) at the end of the first quarter from a year earlier, accounting for 0.96 percent of total lending, according to data from the China Banking Regulatory Commission.

Those figures don’t reflect the real amount of debt because of the ways banks move loans off their books, Charlene Chu, Fitch’s Beijing-based head of China financial institutions, said in April. Some loans are bundled and sold to savers as wealth-management products, which pay more than regulated deposits, she said. Other assets are sold to non-bank institutions, including trusts, to lower bad-debt levels.

Increasing Risk

Non-performing loans may rise faster as weaker borrowers have difficulty refinancing credit in the coming months, Moody’s Investors Service warned on June 24. The official Xinhua News Agency said in a June 23 analysis that risk is increasing in the financial system as the shadow-banking sector expands and institutions make more highly leveraged investments.

Shadow lending flourishes in China because an estimated 97 percent of the nation’s 42 million small businesses can’t get bank loans, according to Citic Securities Co., and savers are seeking higher returns. The industry may be valued at 36 trillion yuan, or 69 percent of gross domestic product, JPMorgan Chase Co. estimated last month. The crackdown may damage the economy by shrinking funding for smaller companies, Barclays Plc said on May 20.

Wealth Management

The nation’s outstanding amount of wealth-management products rose by 500 billion yuan to 13 trillion yuan in the first five months of this year, accounting for 16 percent of the nation’s deposits, according to estimates published by Fitch on June 10. That compares with a 4 trillion yuan increase for the whole of 2012.

An estimated 1.5 trillion yuan of wealth management products were to mature in the last 10 days of this month, Fitch Ratings said June 21. Issuance of new products and borrowing from the interbank market are among the common sources of repayment for maturing products, it said.

Fallout from unofficial lending led more than 80 businessmen to commit suicide or declare bankruptcy over six months in 2011-2012 in the southeastern exporting hub of Wenzhou, a city of 9 million residents whose 400,000 small businesses make products ranging from cigarette lighters to eyeglasses.

Disorderly Unwinding

“The problem is that when debt levels have got so high, and it’s more debt that keeps the existing debt afloat, you absolutely have to stop the process, but it’s very difficult to do so in an orderly way,” said Michael Pettis, a finance professor at Peking University “There’s always a risk that the unwinding of the debt becomes disorderly and the PBOC will be blamed for mismanaging the process.”

About 563 new wealth products were issued last week, two-thirds more than the previous period, according to Benefit Wealth, a Chengdu-based consulting firm that tracks the data. China Minsheng Banking Corp., the nation’s first privately owned lender, is marketing a 35-day product that offers an annualized yield of 7 percent. China’s one-year benchmark deposit rate is 3 percent.

Mid-sized banks get an average of 20 percent to 30 percent of their funds from such products, according to Fitch, which didn’t name specific lenders. That makes these banks more susceptible to default risks on the products.

New Curbs

The China Banking Regulatory Commission told banks in March to cap investments of client money in debt that isn’t publicly traded at 35 percent of all funds raised from the sale of wealth management products. The next steps may include tightening that sends some smaller financial institutions into bankruptcy, according to analysts at Nomura Holdings Inc.

“What we will see over the next half year is credit growth overall will slow down a bit,” Stephen Green, head of Greater China research at Standard Chartered Plc, said in a Bloomberg TV interview from Shanghai. “If interbank rates remain quite volatile and at high levels, then that’s obviously going to have a bigger feed through to credit.”

The PBOC’s decision to refrain from pumping “hefty” sums into the financial system last week was a “bold but essential move to discipline unchecked lenders,” Xinhua said in a June 26 commentary, adding that the pain is needed to pave the way for a more sustainable economy.

Proactive Attitude

China Construction Bank president Zhang welcomed what he called the PBOC’s “proactive attitude” to a changing market situation.

“China Construction Bank hasn’t stopped new lending in any sort of period, or to any sort of clients,” Zhang said at the opening of a bank branch in Taipei yesterday. “Recently there was a temporary liquidity squeeze condition, but CCB’s cash is so adequate that we were able to lend money to our peers. The cash shortage condition has eased in the last two days, and by now the situation has already normalized.”

The central bank, which was silent during the worst of the cash crunch, published a statement on June 24 saying there’s a reasonable amount of liquidity in the financial system and that banks should control risks from credit expansion, including those associated with maturity mismatches.

Maintain Stability

The PBOC will use all kinds of tools to appropriately adjust liquidity in the market and maintain the overall stability, Governor Zhou Xiaochuan said at a forum in Shanghai today. China will continue to implement a prudent monetary policy and allow more foreign participation in the interbank money, foreign-exchange and bond markets, he said.

“No policy maker can afford to be blamed for being responsible for an unnecessary, fully-avoidable financial meltdown and growth hard landing,” Bank of America Merrill Lynch economists wrote in a report yesterday. “With a month of mess in the interbank liquidity, it’s time to re-highlight stability and it’s time for markets to calm down.”

The cost of protecting China’s government debt from default slipped five basis points in New York to 116 yesterday and is up 29 basis points this month, according to prices from data provider CMA. The contracts pay the buyer face value in exchange for underlying securities or the cash equivalent if a borrower fails to adhere to its debt agreements. The contract on Bank of China Ltd. (3988) dropped 28 basis points to 165 yesterday and is 51 basis points higher for June.

“Smaller banks short of deposits will face significant pressure from liquidity management,” said Zhou Hao, a Shanghai-based economist at Australia New Zealand Banking Group Ltd. (ANZ) “If the weakest link breaks, there’s an increase in the likelihood of creating systemic risks.”

To contact Bloomberg News staff for this story: Jun Luo in Shanghai at jluo6@bloomberg.net

To contact the editors responsible for this story: Chitra Somayaji at csomayaji@bloomberg.net; James Regan at jregan19@bloomberg.net

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Friday, June 28th, 2013 EN No Comments

BOCHK All Weather HK & China Equity Fund unveiled

Products and Services

28 Jun 2013

The minimum investment amount of the sub-fund is HKD10,000 or its equivalent for the HKD class and the USD class respectively. It is available for subscription from now to July 19 2013 at BOCHK, Nanyang Commercial Bank and Chiyu Banking Corporation.  

Contact The Asset
© Asset Publishing and Research Limited

All rights reserved. No unauthorized reproduction by any means.

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Friday, June 28th, 2013 EN No Comments

Wealth management industry has untapped potential, panel told

The wealth management industry in Malaysia offers abounding opportunities if its untapped potential is harnessed to the maximum, industry experts said.

By Kazi Mahmood

The wealth management industry in Malaysia offers abounding opportunities if its untapped potential is harnessed to the maximum, industry experts said.

“Wealth management is still at a nascent stage in Malaysia, but it presents great opportunities for high networth investors,” Maybank Group chief strategy and transformation officer Micheal Foong said yesterday in Kuala Lumpur during a panel discussion at the Labuan International Financial Centre (Labuan IFC) Wealth Management Forum 2013.

He said the industry has the opportunity to shape a slightly different order of wealth management but the industry is bogged down by the lack of investor relations, which should improve, adding that there are opportunities to create a different wealth management ecosystem in Malaysia.

Industry players also believe the industry needs liberalisation of regulations, more talent and information dissemination in order to tap into the immense wealth potential in the country.

Malaysia’s high networth individuals will more than double in 2015, rising from its current 32,000 to 68,000, with their net worth increasing from RM445.13 billion to more than RM1,000,000,000,000, the Ministry of Finance said in February this year.

Funds under management in Malaysia posted a significant expansion in 2012, with assets under management valued at RM505.1 billion, while net asset value of the unit trust industry rose to RM294.9 billion.

Nevertheless, one of the hurdles hindering the local wealth management industry is the regulatory process. “Regulations may be hindering the progress of the industry.

Clients are heading for Hong Kong and Singapore to seek higher investment opportunities,” MyFP Services Sdn Bhd MD Robert Foo Jee Yee said.

Regulations might provide some help in changing the mindset of the Malaysian public especially with greater disclosure in fees and charges.

There must be efforts to raise the qualifications of people selling wealth management products altogether, said Blueprint Planning Sdn Bhd EC Raju K Ramasamy who added that people are getting more aware of wealth management and of the opportunities in the industry.

“We build our brands from scratch, we do not carry existing brands and its challenging. But we are financial planners and it is a massive thing that we can produce at least 4 licenses that allows us to practice,” he said, while explaining the challenges and the need for certified and qualified wealth managers.

This content is provided by FMT content provider The Malaysian Reserve

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Friday, June 28th, 2013 EN No Comments

The World Gold Council appoints Kevin Feldman as Managing Director …

/PRNewswire-USNewswire/ — The World Gold Council, the market development organisation for the gold industry, has appointed Kevin Feldman as Managing Director – Investment Worldwide. He will be responsible for growing the organisation’s portfolio of commercial partnerships, and enhancing its market leadership in gold ETFs and other physical gold products across the world. Based in New York, his responsibilities will also include overseeing US operations.

Kevin has over 20 years’ experience in senior leadership roles for leading global asset management firms both in the US and internationally.  He joins the World Gold Council from BlackRock, where he was Head of iShares Marketing. Previously, Kevin held positions at Barclays Global Investors, Vanguard and Charles Schwab Co. 

Kevin brings significant experience in the global ETF and US mutual funds markets, as well as marketing, product strategy and general management experience to the World Gold Council. 

Kevin graduated with a BA from the University of California, Los Angeles and an MPA from the John F. Kennedy School of Government at Harvard University.

Commenting on his appointment Kevin said: “I am delighted to be joining the World Gold Council and leading our investment activities around the world at such an important time for gold. I look forward to developing new initiatives to expand access to gold investment through innovative products and partnerships while extending the organisation’s leadership in helping investors to understand the benefits of gold to their portfolio strategies.”

Commenting on the appointment, World Gold Council CEO, Aram Shishmanian said: “Kevin joins us with a clear directive to enhance gold’s stature and role within the global financial markets. His experience in developing commercial partnerships and marketing financial products, coupled with his knowledge of the dynamic role that gold plays as a unique asset, will be a major asset to the organisation.”

Kevin joined the World Gold Council on 20 May, 2013.

Following a review of the World Gold Council’s investment sector strategy, Jason Toussaint, Managing Director – Investment now reports to Kevin Feldman.

Note to editors:

World Gold Council The World Gold Council is the market development organisation for the gold industry. Working within the investment, jewellery and technology sectors, as well as engaging in government affairs, our purpose is to provide industry leadership, whilst stimulating and sustaining demand for gold.

We develop gold-backed solutions, services and markets, based on true market insight. As a result, we create structural shifts in demand for gold across key market sectors.

We provide insights into the international gold markets, helping people to better understand the wealth preservation qualities of gold and its role in meeting the social and environmental needs of society.

Based in the UK, with operations in India, the Far East, Europe and the US, the World Gold Council is an association whose members include the world’s leading and most forward thinking gold mining companies.

SOURCE World Gold Council

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Thursday, June 27th, 2013 EN No Comments