NEWS & ANALYSIS.
Bartosz Golba, Acting Head of Wealth Management at Verdict Financial
Automated investment advisement, or so-called 'robo-advisors' in wealth management are here to stay--and may change the industry forever. Wealth managers are starting to take notice.
Wealth managers in developed markets have started to lean towards the view that digital players no longer compete for execution-only business. Indeed, in Europe many providers dubbed 'robo-advisors' offer a discretionary investment management service. They have clear fee structures which appeal to price- sensitive clients, though the lack of a recognised brand remains their primary handicap."
Ali Janoudi, UBS Group Head of MENA
GCC HNWI millennials see the world differently than previous generations--they're more focused on entrepreneurialism, and half expect to never retire, according to a new study from UBS. But they are also more diverse in worldview...
There has been a fundamental shift in attitudes towards wealth in our lifetimes and that is clearly seen in the UAE where millennials express some of the most varied opinions of any market globally. That is largely due to the diverse make-up of the population. Yet like other emerging markets, all are united by a confidence and ambition for their future success in the Middle East, or beyond. "
David Kohl, Chief Currency Strategist and Head Economist Germany, Julius Baer
The US Federal Reserve has announced it will increase interest rates. Will the markets greet this like a holiday gift? Signs point to yes.
Stock markets are expected to take the rate increase favourably. In contrast to December last year, when a Fed rate hike was followed by an equity sell-off, we expect a rather positive reaction this time. The good cyclical backdrop is the major reason for this differentiation and a powerful motivation to take higher rates as a confirmation for a solid growth backdrop and not as a threat to it."
Francisco Blanch, Commodity and Derivative Strategist, Bank of America Merrill Lynch
For the first time in eight years, OPEC agreed on November 30 to cut its production--which could be good news for oil prices in 2017 and beyond.
The steep drop in oil prices over the last few years can be partly traced back to the `price war' inside the OPEC cartel. It looks to us like the war is over. Key non-OPEC nations (led by top-producer Russia) are also parties to the agreement, a first since 1998. OPEC member nations will curb their output by 1.2 million barrels per day, others by 600,000 barrels per day. Country allocations and an independent production monitoring committee are also part of the deal, so we expect firmer compliance than for prior agreements."
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