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Expat Investor : May June 2008
expatinvestor.com 6 EXPAT INVESTOR ? May/June 2008 Butterfield Bank has dedicated teams catering to this and indeed other markets drawing on its expertise across all areas. D AVID S TEARN Head of Private Banking, Fairbairn Private Bank The key to Fairbairn Private Bank’s offering is its unique integrated banking and investment service, Focus, which enables clients with at least £50,000, or currency equivalent, in deposits and investments, to tailor a multi- currency account to meet their specific requirements. The integrated Focus service can embrace many optional investment facilities, ranging from execution only right through to fully bespoke decisions to a qualified investment professional, and also provides an opportunity to gain exposure to less traditional asset classes. L AURA P RESTON Client Services, Investec Bank (Channel Islands) Investec Bank (Channel Islands) provides a range of banking products, from easy access current accounts to notice and fixed term deposit accounts in multiple currencies. The minimum balance required to open a bank account is £25,000 or $/ €50,000. It also offers a bespoke investment service with a minimum entry level of £3 million. Investec recognises the importance of having funds available to its clients in a variety of currencies, and our offshore location affords a tax efficient environment for expatriate investors in particular. One of the elements that sets Investec apart is the fact that it maintains its own treasury operation, affording the bank full autonomy to manage its asset and liability book alongside its clients’ foreign exchange requirements. The recent turmoil in the equity markets has once again led investors into cash as the temporary asset class of choice. Measures taken by central banks have seen interest rates decline; however, the appetite for deposit- based products remains strong. Whilst the money markets paid a premium for three-month money following market uncertainties at the year-end, the yield curve in most major currencies remains negative. Therefore, it is at times like this that investors should perhaps not chase the highest interest rates but rather look for quality and consistency and deal with specialist institutions they know well or can rely upon. With the majority of Investec’s clients living and working overseas, fast and easy communication is PRIVATE BANKING discretionary services. By combining banking and investment requirements in one unified account, the service can offer a cost- effective and efficient way to manage a client’s financial affairs. When it comes to investments, the bank advocates diversification, and its Strategic Asset Allocation Service (SAAS) offers a cost- effective means to participate in a wide range of investment markets. The SAAS has a minimum entry level of £100,000, or currency equivalent, and targets a real return in excess of risk-free cash interest rates over a three to five year period. Fairbairn Private Bank believes its clients’ needs are paramount and has won international recognition for its commitment to client service. It places considerable emphasis on developing close client relationships and the bank achieves extremely high levels of personal interaction, offering a single point of contact across its wide range of financial services. The company’s latest client survey reported that 100% of respondents were satisfied with the speed of answering the telephone and 99% were satisfied with the standard of service they received. As recent news stories have demonstrated, the world of investment is viewed as an increasingly volatile and complex environment, so the importance of diversifying investments has never been more essential. The bank’s SAAS achieves this through asset allocation, whereby a portfolio is split across a number of major asset classes, including: cash, bonds, property, equities and alternative investments (such as hedge funds or commodities like gold or oil). In fact, research over the past 30 years has established that the determination of asset allocation is the main driver and contributor to overall investment gains. SAAS aims to maintain the best performing asset classes based on the risk and return expectations of the investor and the prevailing market conditions. The use of a discretionary asset allocation service can offer the investor peace of mind by passing responsibility for allocation Continued from page 5 “When it comes to investments, the bank advocates diversification, and its Strategic Asset Allocation Service (SAAS) offers a cost-effective means to participate in a wide range of investment markets.” “Our client relationship managers are based in Guernsey and this means Investec clients are able to liaise directly with someone who can provide intellectual information to enable them to make informed and profitable decisions.” Meet the modern face of private banking VISIT www.expatinvestor.com Request more information ? Read updated news ? Links to advertisers ? Fast Facts WHEREVER YOU ARE IN THE WORLD
July August 2008