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European Alternative Investments for Private Clients 2003Product Type: Market Research ReportPublished by: Datamonitor Published: November 2003 Product Code: R313-6127 Description IntroductionThe poor market conditions over the past few years have increased the popularity of alternative investments to such an extent that these investment types can no longer be ignored. Based on a unique B2B survey covering almost 100 wealth managers across Europe, this report provides an extensive insight into the realm of alternative investments within private client portfolios. Scope Data from Datamonitor's in-depth European Alternative Investment Survey 2003, gathering industry opinion from almost 100 wealth managers across Europe Coverage of hedge funds, capital protected products, private equity/venture capital and property investments in the private client sector Covers the five main European countries: UK, France, Spain, Germany and Italy Content includes current product offerings, the importance of alternative investments among private client portfolios and their future direction Reasons to Purchase Invaluable data on European competitor opinion providing a key tool for existing providers to underpin product development and strategic planning An effective guide to the current industry to help new or potential players plan and validate market entry decisions Provides a clear picture of the main motivations and tactics for alternative investment provision by wealth managers Report Highlights Alternative investments are set to remain an important component of the wealth management marketplace. Asset allocations to these products and especially hedge funds are generally expected to grow across Europe while the investments themselves are commonly anticipated to be fully integrated into private client portfolios by 2006 Private equity/venture capital investments are likely to see the most growth within the product offerings of Europe's wealth managers - by 2005 59% of European wealth managers will offer these investments to their private clients Now that the stock market downturn appears to be coming to an end, the popularity of alternative investments as an alternative to equity investing is likely to be affected. However, while the stock market recovery may well dent the growth of alternative investments, it will not stop it. Table of Contents TABLE OF CONTENTSCHAPTER 1 EXECUTIVE SUMMARY 3 Market context 3 Alternative investment provision 3 Customer focus 5 The future decoded 6 CHAPTER 2 INTRODUCTION 21 What is this report about? 21 Who is the target reader? 21 How to use this report 22 CHAPTER 3 MARKET CONTEXT 24 Introduction 24 Advantages of alternative investments for wealth managers 26 Product overview: hedge funds 28 Advantages/disadvantages 28 Key regulatory issues 29 Product overview: capital protected products 31 Advantages/disadvantages 31 Key regulatory issues 32 Product overview: private equity/venture capital 33 Advantages/disadvantages 34 Key regulatory issues 35 Product overview: property 37 Advantages/disadvantages 37 Key regulatory issues 38 CHAPTER 4 ALTERNATIVE INVESTMENT PROVISION 40 Introduction 40 Wealth manager product offerings 40 Means of provision 42 Country variations in providing hedge funds 44 Country variations in providing capital protected products 45 Country variations in providing private equity/venture capital investments 46 Country variations in providing property investments 47 Sales/marketing approach 49 Limitations on product offerings 51 CHAPTER 5 CUSTOMER FOCUS 54 Introduction 54 Propensity to hold alternative investments 54 Dominance in customer portfolios 56 Coutnry variations for hedge funds 58 Country variations for capital protected products 58 Country variations for private equity/venture capital investments 59 Country variations for property investments 60 Customer motivations for investment 61 Hedge funds or fund of hedge funds 62 Capital protected products 63 Private equity/venture capital 64 Property investments 66 CHAPTER 6 THE FUTURE DECODED 68 Introduction 68 Future product provision 68 Future asset allocations to alternative investments 69 Hedge funds or fund of hedge funds 71 Capital protected and structured products 72 Private equity/venture capital investments 73 Property investments 74 Alternative investments: a future in wealth management? 75 Integration into affluent client portfolios 76 The impact of stock market recovery 77 Outsourcing and third party partners 78 Developments in hedge funds 79 Developments in capital protected products 81 Developments in property 83 Barriers to future development 84 Hedge funds 85 Capital protected and structured products 86 Private equity/venture capital investments 86 Property investments 87 Conclusions 88 CHAPTER 7 APPENDIX 91 Supplementary data 91 Market Context 91 Alternative investment provision 92 Customer focus 97 The future decoded 103 Definitions 112 Research methodology 113 Further reading 114 Datamonitor Reports 114 Datamonitor Global Wealth Service: Insight Reports 115 Datamonitor Global Wealth Service: Competitor Tracking 115 Datamonitor financial services consulting 116 SPP writing team 117 |
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