Julius Poliakas on Investment professionalHead of Investment / UK Immigrant / Investment Professional / Motorhead4 months ago
AstraZeneca (AZN) just received $1 billion from U.S. Biomedical Advanced Research and Development Authority (BARDA) and secured an agreement for US to receive 40% of the whole AZN’s year capacity. AZN said some time ago that it will be able to produce 1 billion doses if trials are successful. Interesting that US BARDA funded French pharma giant Sanofi. It seems that will do everything to get most of vaccines at all the costs. But what does it mean for stock price like AZN? AZN price today (21/05) has fell 1,3% in the morning despite news. Is this a good opportunity? Maybe. As of now it is difficult to know which vaccine maker will be the one. One strategy - diversification amongst several most promising. Another - pick one and hope for best.
www.bloomberg.com
www.bloomberg.com
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Julius Poliakas on Investment professionalHead of Investment / UK Immigrant / Investment Professional / Motorhead4 months ago
The world is preparing for the return of ‘normal’ state. Many countries are loosening restrictions. Lithuania, Latvia and Estonia were amongst first who allowed movement between baltic states. Now, Italy is also planning to for free movement. Nonetheless, Italians will be allowed to travel freely including abroad. Portugal, Spain and Greece also eased measured. It is interesting because investors were optimistic few weeks ago about the possibility of easing restrictions and equities traded higher. Now that we see this in action, investors scramble. It is trully difficult time, hence, diversification is essential at this stage.
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Establishing a Family Philanthropy Program It’s not necessary for a family to have a private foundation to establish a family philanthropy program. Studies have shown that individuals receive many of the same benefits from charitable giving regardless of the amount of money that they actually give. Before engaging in family philanthropy, it’s important for the elder generation to first facilitate a family meeting, which should include a meaningful discussion about philanthropy with the entire family—ideally, one where each member of the family proactively participates. Research has shown that: (1) conversations between parents and children about charity have a greater positive impact on children than parents simply serving as a silent role model through their own philanthropic activity; and (2) talking about charity is equally effective regardless of a parent’s income level or a child’s gender, race and age. With the additional help of a neutral professional facilitator, this family meeting also could benefit from the inclusion of effective communication exercises as well as the use of tools to help the family members discover their common values and vision. To maintain a strong family philanthropy program over time, the program should have the following four components: 1. Philanthropic projects should be chosen based on shared family values. 2. Family members should proactively participate in shared decision making. 3. Results should be reviewed and successes should be measured and evaluated. 4. The family should continually learn from experience in order to improve in the future. Children can become part of a family philanthropy program as young as five years old and can begin to play a deeper role with respect to the actual administration and investments of the family philanthropy program before they’re teenagers. The family members could set standards for performance to accompany each grant given as part of the family philanthropy program, and selected charities that attain those standards might be allocated more funds in future years. Each child is capable of proposing and advocating a grant request, which could include site visits to the proposed grantee or even interviews. A family philanthropy program could even require each participant to make some type of personal investment in any organization that will be receiving funds, such as actively volunteering with the organization or making a small personal gift along with the larger donation from the family philanthropy program. As part of the family philanthropy program, each younger family member might be given a relatively small amount to donate to charity on their own, and then a separate larger amount may be set aside for all of the younger family members (for example, siblings or cousins) to give away as a collective unit, in which case they will be required to discuss and agree together on the organization receiving the donation. Many organizations encourage children’s participation in philanthropic activities and would welcome the younger members to visit their facilities and even volunteer, which is often a terrific way to unite family members as they work together toward a common goal. For more substantial donations, particularly ones in which the family name will be recognized, involving the whole family can help instill a sense of pride in the family legacy. As long as the elder generation is not asserting too much oversight or control over the program, family philanthropy almost always is an extremely positive experience for the younger generation.
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Marius Čiuželis on Traditional & Alternative investmentsInvestor / Advisor / Social Entrepreneur2 months ago
Is the term 'private banking' a thing of the past? The blurring of the lines and business models between the different types of wealth management firms raises important questions over whether 'private banking' is still relevant. Should we stop using it altogether? What does a 50-year old Swiss client adviser from UBS Wealth Management have in common with a 25-year old relationship manager from the VIP offering of a Lithuanian retail bank? In theory, very little. Yet in the way their respective institutions market each of them, and in the eyes of many newly-wealthy individuals, they are both ‘private bankers’. Although a slightly extreme example, this highlights a pressing question which shouldn’t be ignored any longer – what does ‘private banking’ actually mean? Surely there needs to be a clearer and more accurate definition of private banking in today’s environment? And how this differs from ‘wealth management’. After all, many HNW individuals still don’t know what a private bank should really stand for. Various types of organisations – not just private banks – are trying to service HNW customers. These include insurance companies, IFAs, multi-family offices, independent (or external) asset managers, just to name a few. And the existence of multiple providers is a good thing in terms of broader customer choice. The flipside is that it leads to greater confusion in the mind of a customer about who offers what, why and how. Some organisations have been called private banks for over 100 years, throughout which they have served wealthy family’s interests in Europe, the US and Asia. They use well-trained, experienced RMs to tailor centralised investment themes and other solutions to individual client preferences. At the other extreme, some local retail banks have set up ‘private banking’ divisions that are staffed by young, inexperienced salespeople, employed to sell a handful of high-margin funds. Both types of institution can call what they do private banking, employing RMs as client managers. Yet their approaches, and the resulting client experience, are poles apart. In the meantime, the current uncertainty leads to an understanding of what a private bank is and what it is supposed to do. Most organisations are then tarred with the same brush by the clients they serve and are trying to attract. Arguably, the concept even becomes irrelevant. The challenge has also come from those local retail banks carving out an offering targeting HNW clients exclusively. They tend to describe what they do as ‘private banking’ because they think the term possesses cachet. Yet while some clients value quality brands, they are not short-sighted or easily fooled. If self-described private banks don’t offer the substance of quality advice and service they claim in their marketing brochures, they are unlikely to retain much client business. Private banking is certainly less ‘private’ these days than it ever used to be. The compliance spotlight that has started to shine ever-brighter in the wake of the 2008 financial crisis and the race among governments to re-fill their coffers is only likely to further sharpen. The allure of ‘secrecy’ which once surrounded private banking is gone, with the most credible institutions going to great lengths to ensure client assets and any new accounts are from legitimate sources and have valid objectives for needing a private bank. At the same time, the drive towards greater fee transparency and the elimination of retrocessions over time should encourage true private banks to reinforce the value of their discretionary offering. The purpose of private banking should be simple: to offer relationship-based advice and tailored financial solutions to meet specific client needs. With HNW clients becoming increasingly global, this advice needs to be offered on an increasingly international basis, and increasingly through digital means. Banks that employ professionals who are dedicated to getting to know their clients, and then meeting their financial needs in a product-agnostic, transparent manner can rightfully point to their credentials as a private bank. And they can demonstrate the differences they offer. Either way, client education has to play a key role. People who think a private banker just processes transaction orders have the wrong understanding. But if they understand what they can and cannot get from their private bank, everyone will benefit.
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