“there might be a more legitimate reason why many wealth managers steer clear of Norway” -- David Bain
Sunday, 22nd November 2009
Citi Quilter, the UK Wealth manager, has unveiled a discretionary absolute return strategy in the wake of the credit crisis, according to a report in What Investment.
The firm’s Absolute Focus Strategy is the first within its discretionary Managed Portfolio Service to tap alternative investments. Individuals with at least £25,000 (€31,560) to invest are eligible foe the MPS.
Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.
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