Traditional investment funds were safe refuge and sophisticated to the wealth of the richest population of globes. It seems that the recent economic downturn has turned on its head, leading to serious questions about the future of the asset management industry and hundreds of thousands of well-paying jobs finance that depend on it. This report claimed half 8 Globes. 6 million more wealthy investors have lost confidence with their usual Fund Manager.
The study lays bare just how the credit crunch destroyed their personal fortunes. Lack of investor faith has led to a quarter of people with more financial assets of $ 1 million to draw funds from the Fund Manager or reject their adviser, according to the report by Merrill Lynch and Capgemini.
More than a thousand three hundred financial advisors and more than 60 banking executives were asked for views in the report.
More than 90% of respondents indicated that they had lost 2009 rich clients and this year. Who interviewed more than 200 rich and super-rich investors in all continents, also found that more than three-quarters of all of them had lost confidence in financial regulatory bodies after the crisis of credit rating and diving 2009 world markets. Scandals such as 65 billion funding Bernard Madoff Ponzi scheme, prompted the rich super to question their huge selection of financial advisers and fund managers. In some cases completely rethink their investment strategy, consult the report. Rich the United Kingdom and the United States investors were among the hardest hit in 2009. In Britain, the number of people who have financial assets over a million dollars fell by 26 percent, or 131,000 362 000 last year. The wealth report excludes the value of collectibles, as well as antiques. Nick Tucker, leader on the market with the United Kingdom Ireland with Merrill Lynch global management of prosperity, said:
“We are in a growing crowd and far alonebut last year was clearly a very difficult year for British and American investors.” For the only time since 2004, the number of individuals of the high-net-worth in the United Kingdom fell the investigation found.
Mr. Tucker said that the decline in the number and value of super-rich was recorded in previous years, but none were as important than last year, it was stated that the rich have been particularly affected because tend to invest intensively in shares and assets of the company, which had met recently showcased spectacular waterfalls. Rich ?BER worldwide are already selling their nonpublic jets and shying away from buy luxury, just like the collectible vintage cars as well as luxury yachts. Rather, they have been pumping detached capital in jewellery, gold and objets d’art. As the majority of the wealth management industry and banking does focuses in these zones there was a knock on effect, even some significant job losses in wealth since the beginning of 2010 management teams. The industry will have to adapt – investors change must be permanent and that there were signs, as the series launched art investment funds that occur at a certain level – it will be probably be casualties of the industry.
