Lack of volatility in foreign exchange markets and certain asset classes this year has driven investment into fixed income and multi-asset funds. Private banks want to fight such cyclicality.
Tag : dany dupasquier
Relationship managers need to be convinced of the benefits of funds as client solutions and that requires focused training, say senior bankers who identify a correlation between the two.
JP Morgan Private Bank and UBS Wealth Management see increasing use of funds in discretionary portfolios. A house view is also seen as synonymous with use of funds.
Contact between product selectors and relationship managers in a client setting may be inappropriate, says LGT. Gatekeepers must focus on recommendations, not asset-raising.
They agree performance is paramount, but while some see brand names as key to fund sales, others see it as a retail game and suggest wealthy clients even prefer boutiques.
