Lack of volatility in foreign exchange markets and certain asset classes this year has driven investment into fixed income and multi-asset funds. Private banks want to fight such cyclicality.
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Relationship managers need to be convinced of the benefits of funds as client solutions and that requires focused training, say senior bankers who identify a correlation between the two.
JP Morgan Private Bank and UBS Wealth Management see increasing use of funds in discretionary portfolios. A house view is also seen as synonymous with use of funds.
Veteran Morgan Stanley M&A banker, Harry van Dyke is to return to New York.
US hedge fund advisor announces the Van Tracker Fund