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Investors are looking for sectors or themes thatmay benefit fromthe pandemic in the short termand be structural winners in the mid and long termtoo


PIERINMENZLI BANK J.SAFRA SARASIN


but banks can still have advice and personal relationships as a core value proposition. “Increased acceptance and comfort-level with technology, despite stemming fromnecessity, has actually created lasting positive change inhowadvisers and clients connect.We’ve learned that youcan still deliver a high value, bespoke service in an increasingly remote environment,” he says. In 2019,Boston Private established


a family office practice, to cater to the needs of family offices and closely-held family business. This is a client segment “the financial services industry struggles to serve effectively”, largely because they are both “private clients” and “institutional investors/business owners”. Boston Private is able to serve


‘family enterprises’ with the scope of services they require but is not challenged by the highly segmented nature of large institutions, claimsMr Simons.“We findwe’re able to offer services and add valuewhere bigger players can’t orwon’t.” ET


BEST PRIVATE BANK FOR ALTERNATIVES LGT


LGT, the bankownedby the Princely Family of Liechtenstein, has developed its offering of alternative investments for private clients over the past two decades, leveraging its experience in runningits ‘Princely Strategy’.Thebank’s flagship product allows clients to invest alongside the Princely Family andcontains a substantial proportion of alternative investments. Privatemarkets, in particular,


have becomeincreasingly popular withwealthy clients, buthowhas the pandemic affectedthe outlook for this asset class? “Well advisedinvestors are increasingly looking at private


58 GLOBAL PRIVATE BANKING AWARDS 2020


markets as away not only to enhance returns but also to access a unique opportunity setnot available through publicmarkets,” statesThomas Piske,CEOatLGTPrivateBanking. Past crisis behaviour indicates that


periods of rapidmarket dislocation and economic contractionwill affect asset valuations, reduce distributionsandincrease capital calls, as fundmanagers drawfrom existingcommitments to support their portfolio companies, explains MrPiske. Those vintages and dislocations can be very attractive for newcommitments to the asset class, or open opportunities in private equity secondary deals or distressed private debt. “Nevertheless,webelieve timing


is a secondary considerationwhen it comesto privatemarketsdue to the long holding period,” he adds. “Investors shouldconsider long- termanddisciplinedinvestment planswhenbuilding private equity portfolios, rather than reacting to short-termmarket sentiment.” Premia deliveredby private


markets over publicmarkets have comeunder pressure over the years, but the significant performance differential between topquartile managersand the rest highlights the importance ofmanager selectionand bottom-upinvestment analysis.“We believe that attractive premia can still be found in the asset class.” LGThas also been highly


commendedfor its offering ofimpact and sustainable investing. “Today, an increasingnumber


of investors perceive sustainable investments as a long-termallocation towards higher quality investments that represents their values. The resilience of sustainable investing throughout the Covid-19 crisis also proves that it does not only benefit fromthe long bullmarket, but can also withstand the turbulences of a sudden crash,” saysMrPiske.ET


BEST PRIVATE BANK FOR THEMATIC INVESTING BANK J. SAFRA SARASIN LTD SARASIN & PARTNERS LLP


Thematic investing, alreadypopular among private investors before the coronavirus pandemic, has received a further boost by the healthcare emergency,whichhas accelerated many structural changes. “Investors are looking for


investment opportunities in sectors or themes thatmay benefit from the pandemic in the short termand be structural winners in themid andlong termtoo,” explains Pierin Menzli, head of thematic equities at BankJ. Safra Sarasin. Investmentthemes around


humanhealthand technology have particularly resonated withwealthy clients. “Along with incremental investments in healthcare infrastructuredue to Covid-19,we expect an acceleration inmany innovative medical areas, such as diagnosticsandlife science, renewedpolitical will for reform, andtheempowerment of patients as consumers throughthe increased use of consumerhealth devicesand improved healthmonitoring,” says MrMenzli. Telehealth, the ability to talk to


one’s doctor remotely, is likely to becomea newstandardinteraction channel in the healthspace, complementing patient-doctor visits. Thepandemic has transformedthe


waywework, entertain ourselves, shop andsocialise, fuelling demand for video calling, aswell as social media, streamingandgaming. It has accelerated tech trends like AI, robotics andcybersecurity. “A thematically-led investment


process allows us to identify global companies that can thrive in this era of disruption,” says Jerry Thomas, headof global equities at assetmanager Sarasin&Partners.


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