Date office opened: 1996
Group assets under management: £24 billion
Number in team: >50
Clients (whole group): 26,000
Top three fund picks:
- Reliance India
- Prusik Asian Equity Income
- Loomis Sayles US Equity Leaders
Q&A with Andre de Gruchy, investment director, Canaccord Genuity Wealth Management, Jersey:
What is your typical client demographic?
Our private clients are usually 45+ and are generally saving for retirement or are retired and are looking to generate additional income.
What differentiates your region?
Our client base is geographically diversified, leading us to offer strategies in several base currencies, not just sterling.
What challenges are facing your area?
The Jersey-based wealth management industry is very competitive, so we aim to maintain strong relationships with our clients. Like the rest of the industry, we are facing ever-increasing regulation. While it is a challenging environment, ultimately it is for the benefit of the client, which has to be a good thing.
What’s the best thing about living in your area?
In Jersey, you’re never far from the sea, and you can be down on the beach straight after work with a whole evening of sunshine left. What’s not to love about that? We have great transport links with cities such as London, Liverpool and Glasgow. We’re also so close to France – 45 minutes in a boat – so can easily pop over for lunch!
What’s a typical regional saying?
‘Ah bah crie!’ which is Jersey French dialect for ‘goodness me’.
What is your office motto?
#cando – we like to get things done at our Jersey office!
Bullish or bearish?
I would say we are cautiously bullish. Economic growth has looked increasingly synchronised around the world, and we believe that the economic tailwinds are set to continue, which will provide opportunities for investors. We favour equities over bonds and have recently rotated some of our equity exposure into more cyclical areas of the market. At the same time, we have repositioned some of our fixed income exposure so it provides a proper counterbalance to this risk.
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