The rain lashed down as the turboprop flight landed gingerly the other day in a windswept
The slight feeling of incongruity was replicated in the fact of
For those engaged with the famed wealth managers of this locale, a similarly impressive offering is presumably expected, which may have been delivered so far this year if their funds were sufficiently invested in the stocks and bonds of developed markets. Whether the second half of the year will be quite so lucrative could be more of a challenge.
As ever, though, deciding how to chase further investment rewards depends considerably on the appetite for risk, which is fundamentally a personal thing, rooted in some combination of circumstances and innate character. How the Gulf's richer investors will act will depend, you would imagine, on their individual predisposition to pursuing far-flung returns, relative to the seemingly burgeoning opportunities at home.
Earlier this year a study by
"The results have shown that investors are becoming increasingly confident in the region," it said, "while some continue to invest globally as a method of diversification and seeking stability. In a significant shift, HNWIs are now overwhelmingly more focused on wealth generation than its preservation," a reflection of the passing of the global downturn.
At the same time, interestingly, respondents were mostly inclined to devote their resources either to their own businesses or to real estate (in roughly two-thirds of cases), followed by cash deposits. Stocks and bonds were much less favoured, barely even matching the option of gold and other precious metals. A cultural bias is suggested by those findings, with an apportioning that probably will not have changed very much in the intervening months.
Societe Generale Private Banking's
The environment generally "remains favourable to risk assets, but all good things do eventually come to an end", Mudie cautions. Societe Generale Private Banking's own strategy at this point remains positive towards equities globally, but tends to be looking eastward (
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