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FOREWORD 9


THE FAMILY OFFICE Executive Director’s address


IFOA begins – a modern not-for-profit association that will provide to members and supporters with an umbrella communication and networking destination.


24 FOCUS ON ASIA-PACIFIC


12 Is the global smart money investing in Asia? Yale and Harvard provide an insight into how much the typical North American endowments are investing in Asia.


14 Chastened by the crisis 34


Post-GFC, high net worth individuals in the Asia-Pacific region are demanding more value-added and more transparent advice from wealth management firms, according to Capgemini and Merrill Lynch.


20 Plenty of promise, but hurdles to clear


VP Bank of Liechtenstein and Switzerland’s University of St Gallen examine the state of Asia’s family offices in 2015.


24 Corporate governance: The challenge for China


How a good corporate governance model built on effective checks and balances will ensure greater global success for overseas-listed Chinese firms.


52 2 30 The new spice trade


The rise of Islamic wealth management opportunities in South-East Asia.


FAMILY OFFICE: ASIA TOMORROW


34 Family offices and the new wealthy in Asia Much of Asia is experiencing an unprecedented economic expansion, but where will the new ultra- high net worth individuals invest their new wealth?


40 Lessons shared, lessons learned


How a comparative asset allocation and compensation studies helps bring an understanding of how family offices manage their investment responsibilities.


42 The multifamily office advantage


Wealthy investors moving away from large-scale banks and brokerages in favor of the objectivity and intimacy associated with the multifamily office.


OPERATIONS


44 Holding the family office together In Asia, families are beginning to adopt the ‘Western’ concept of a family constitution.


48 People capital and stewardship


The clear link between businesses that go beyond regarding people as merely employees and long-term success.


52 Are there solutions for the next financial crisis?


The belief that financial crises and negative outcomes happen to other people in other countries at other times is firmly rooted in financial markets.





Contents


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