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NEWSLETTER | 27 Nov 2020  
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Acting responsibly: Youngsters drive HNW shift to ESG investing


The focus is on ESG this week with news of new research from Barclays Private Bank looking at the intergenerational transfer of wealth which reveals that it's the younger members of wealthy families who are pushing for a greater focus on sustainable and responsible investing.

The end result is a greater awareness of ESG issues among all HNW age groups and a subsequent increase in asset allocation to sustainable investments.

“With the heads of the families thinking about succession planning and investing beyond their personal lifespan, our conversations have extended to include how sustainable investing can secure their children’s future, their readiness to inherit family wealth, and a common ground for family discussions around wealth," says Damian Payiatakis, Head of Sustainable and Impact Investing, Barclays Private Bank.

FE Investments is one company that can certainly testify to an uptick in interest in ESG-related investing having this week reported a record 125 per cent increase in AUM in its Responsibly Managed portfolio range.

“There’s no doubting that ESG investing has exploded in popularity, particularly in the wake of the Covid-19 pandemic, where there has been much discussion on how the recovery and economy of the future should look. The AUM we have seen flooding into our Responsibly Managed range demonstrates the direction of travel," says Chief Investment Officer Rob Gleeson.

In other research out this week, a study by private equity firm GrowthDeck reveals that, despite being home to just 13 per cent of the UK's population, London tax payers are responsible for a whopping 29 per cent of the country's total Capital Gains Tax bill. Londoners forked out GBP2.5 billion in CGT last year up 24 per cent from the previous year's GBP2.1 billion total, but according to Growthdeck, those with large personal CGT bills can defer payment by re-investing the gain in businesses which qualify for tax reliefs available under the Government’s flagship Enterprise Investment Scheme (EIS).

A new survey by Punter Southall meanwhile has found that 60 per cent of employers are failing to hep their staff as they approach the age they can unlock some of their pension funds, putting them at risk of making bad decisions that could result in additional tax liabilities and the prospect of running out of funds in retirement.

“The 55s are a forgotten generation when it comes to financial education, support or guidance as companies tend to focus on their younger colleagues," says Peter Selby, Managing Director, Retirement Services, at Punter Southall, who recommends a ‘Midlife Review’ for older employees to assess finances, career plans and general wellbeing.

And finally, we report on a big deal in the wealth management space – the acquisition of FWM Holdings by Stanhope Capital Group – which has created one of the the world’s largest independent wealth management and advisory firms, with USD24.2 billion in client assets and 135 employees operating in six offices worldwide.

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Millennials driving high net worth parents and grandparents in a shift to sustainable investing
Mon | 30 Nov 2020, 13:19
A new research series from Barclays Private Bank on the intergenerational transfer of wealth shows that ESG investing has been brought into wealthy families’ consideration by the younger generations. 
  READ MORE  >
FE Investments sees 125 per cent increase in ESG-related AUM
Mon | 30 Nov 2020, 13:19
FE Investments, the investment arm of global fund data company FE fundinfo, has seen a record 125 per cent increase in assets under management (AUM) this year into its Responsibly Managed portfolio range.
  READ MORE  >
London taxpayers pay nearly 30 per cent of the UK’s capital gains tax
Mon | 30 Nov 2020, 13:19
Taxpayers in London pay 29 per cent of all the UK’s Capital Gains Tax despite having just 13 per cent of the UK’s population, according to a new study by Growthdeck, the private equity investment firm.
  READ MORE  >
Survey finds companies ignore older workers heading for retirement
Mon | 30 Nov 2020, 13:19
New research from Punter Southall has found six out of ten employers do not help staff as they approach the age when they can claim their pension.
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Stanhope Capital Group and FWM Holdings merge to form USD24.2bn wealth management 'giant'
Mon | 30 Nov 2020, 13:19
Stanhope Capital Group (Stanhope Capital) and FWM – owner of Forbes Family Trust, LGL Partners and Optima Fund Management (collectively FWM) – have entered into a definitive merger agreement to create one of the world’s largest independent wealth management and advisory firms, overseeing USD24.2 billion in client assets with 135 employees operating in six offices worldwide.
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