Alternative investments need to have track records of several years before fund managers and other financial advisors will consider investing in them on behalf of clients, says a poll published today. Past performance is seen as essential in the absence of regulation.
Amongst more than 40 senior figures from the wealth management industry including firms such as Merrill Lynch, Rothschild Private Management and Credit Suisse, nearly three quarters (73.3 per cent) believe that alternative investments such as wine, art, forestry and bloodstock need to have a track record stretching back several years before these advisors will consider recommending that clients invest in them.
The poll took place during an event hosted by Lawrence Graham LLP and promoted by Family Bhive, an exclusive member-based website comprising wealth owners and the private client industry which serves them.
“Almost all of those present reported that there is a major...