Summit Notebook

from Funds Hub:

UCITS IV Everyone

March 23, 2010

It is early days at the Reuters fund summit in Luxembourg, but already a few themes are building. For one thing, no one seems to be too negative about the investment climate.

Tax evaders on the run

October 7, 2009

  By Neil Chatterjee
    The U.S. has promised it will hunt down tax evaders.
    And it seems tax evaders are on the run.
    DBS bank, based in the growing offshore financial centre of
Singapore, told Reuters it had been approached by U.S. citizens
asking for its private banking services. But when told they would
have to sign U.S. tax declaration forms, the potential clients
disappeared.  
    Swiss banks also approached DBS on the hope they could
offload troublesome U.S. clients to a location that so far has
not been reached by the strong arms of Washington or Brussels.
    DBS said no thanks. In fact many private banks and boutique
advisors now seem to be avoiding U.S. clients.
    Will this spread to other nationalities, as governments
invest in tax spies and tax havens invest in white paint?
    Is this the end of offshore private private banking?

Geneva is for wealth management

October 5, 2009

Even for an American who’s not wealthy, Geneva has a reputation as a global centre for wealth management – the place the world’s rich come to stash their money and (they hope) make it grow.

from Global Investing:

Reuters Funds Summit: A financial Chernobyl

March 18, 2009

The mood in the asset management industry is "very cautious, very realistic but not pessimistic" after the financial industry's "Chernobyl" of Lehman Brothers collapse, according to Europe's fund industry chief.

from Global Investing:

Reuters Funds Summit: Madoff, the silent presence

March 17, 2009

Master-fraudster Bernie Madoff is the invisible guest at an annual fund fest in Luxembourg, the European capital for fund administration.