deVere Group

deVere expands further in Eastern Europe with 2 new offices in February

2012-02-13T12:02:00+00:00

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deVere partners with Fidelity to access award-winning range of funds

2012-02-08T04:02:18+00:00

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deVere partners with Fidelity to access award-winning range of funds

2012-02-08T04:02:06+00:00

deVere partners with Fidelity to access award-winning range of funds

The deVere Group, the World’s Largest Financial Consultancy, is delighted in announce that it has partnered with Fidelity Worldwide Investment, which will enable deVere clients to access Fidelity’s range of award winning funds.

The new partnership is a natural extension of the recent collaboration by Fidelity and deVere, to combine the investment expertise of Fidelity with the unprecedented distribution of deVere’s advisors. In the current climate of volatile stock market conditions, the need to make informed investment decisions has never been more relevant and that has been acknowledged by the success of the initial informal relationship.

Over the past 40 years, Fidelity has grown to become one of the most globally-recognised investment brands and a leading provider of asset management services.

Fidelity Worldwide Investment Sales Director, Peter Duke commented, “We have an outstanding track record of working closely with advisors to deliver investment solutions, which are in line with their client needs. The deVere Group are one of the largest offshore advisory groups in the world, and as such, we’re delighted that their clients will now be able to benefit from our broad range of award winning funds”.

deVere Group CEO, Nigel Green said that “Fidelity’s broad range of funds is an ideal fit for the deVere Group’s vast client base. Combined with the support that Fidelity provides to our network of advisors, we are really excited to formalise such distribution arrangement. It’s a great addition to the unique range of investment solutions we can provide to our clients worldwide.”

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The deVere Group is the World's Largest Independent International Financial Consultancy. International investors and expatriates employ us to find financial services products that suit their medium to long term requirements for investments, savings and pensions. With in excess of US$8 billion of funds under administration and management, deVere has more than 60,000 clients in over 100 countries. Our independence and ability to offer financial products that are tailor-made to fit an individual's needs are behind our success.

www.devere-group.com

T +34 636 978 880

Investors should be investing in stocks - BlackRock CEO

2012-02-08T03:02:00+00:00

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Investors should be investing in stocks – BlackRock CEO

2012-02-08T02:02:07+00:00

Investors should be investing in stocks – BlackRock CEO

According to BlackRock CEO Laurence D. Fink, investors should be investing in equities as valuations are lowest in almost 20 years and the so-called safety of treasury bonds currently offer minimal returns.

Moreover, Fink also reiterated that as the US Federal Reserve is expected to keep interest rates low and as inflation levels remain high, leaving cash in banks would ultimately erode the value of investors’ assets. The Federal Open Market Committee last month pledged to keep interest rates low until at least late 2014, in order to boost the cash flow into the economy.

“I don’t have a view that the world is going to fall apart, so you need to take on more risk...You need to overcome all this noise. When you look at dividend returns on equities versus bond yields, to me it’s a pretty easy decision to be heavily in equities”, he said.

If you wish to learn more about financial products that are linked to equity indices, speak to a deVere Financial Adviser today.

Tottenham Manager Harry Redknapp cleared of tax evasion

2012-02-08T01:02:13+00:00

Tottenham Manager Harry Redknapp cleared of tax evasion

Tottenham Hotspur Manager Harry Redknapp has been cleared of charges related to untaxed payments that total £189,000, made by co-defendant Milan Mandaric to a Monaco bank account.

The incident happened when Manadric was working for Portsmouth FC as Chairman and Redknapp was Club Manager.

HM Revenue & Customs had alleged that the payments made were for Redknapp’s employment services and as a bonus for the sale of striker Peter Crouch and thus, should be subject to income tax. However, the two had always maintained the payments were gifts and should therefore be exempt from tax.

The high profile case has been held at Southwark Crown court on Wednesday 8th February.

deVere PIC sponsors Official PCA England Cricket fundraising dinner

2012-02-08T11:02:46+00:00

deVere PIC sponsors Official PCA England Cricket fundraising dinner

Professional Investment Consultants (PIC), part of the deVere Group, the World’s Largest Independent Financial Consultancy, is proud to announce that it has sponsored the Official PCA England Cricket fundraising dinner on Wednesday 8th February at the Royal Meridien Hotel in Abu Dhabi.

Official PCA England Cricket fundraising dinner will be lined up by a star-studded list of current and former cricketers, and will be hosted by Sky Sports broadcaster and former England Captain Nasser Hussain. The event is being organised in aid of the PCA Benevolent Fund, which helps current and former cricket players and their dependants in times of hardship and upheaval to readjust to the world beyond cricket.

Moreover, PIC was also involved in the highly-competitive White & Case PCA Golf Day at the Emirates Golf Club in Dubai on Wednesday 1st February, which was dominated by Cricket Legends including Sir Ian ‘Beefy’ Botham, David ‘Bumble’ Lloyd, Nasser Hussian, Mike Selvey, Derek Pringle and England blowing coach David Saker.

PIC Senior Area Manager Steve Rigby commented, “We are very proud to be part of such a noble, and fun, event. PIC Middle East is increasingly growing in the region and we are delighted to have the opportunity to give back to the community we are based in”.

FTSE All-World hits fresh 6 month high

2012-02-08T09:02:07+00:00

FTSE All-World hits fresh 6 month high

Global stocks on the FTSE All-World equity index have hit a fresh 6-month high on hopes for a global economic recovery, after a series of optimistic data.

The FTSE All-World equity index is at its best level since the start of August last year, whilst the FTSE Eurofirst 300 has opened with a 0.4% advance and the S&P 500 futures suggest that Wall Street will start the session with a 0.2% gain, close to its best close since the summer of 2008.

Consequently, US 10-year bonds have moved back to the 2% level, as “haven” buying is counteracted by optimism that the US economy is indeed gaining traction following Friday’s stronger than expected employment data.

Moreover, the Euro is nearing an 8-week high on hopes that a debt restructuring and bailout deal will soon be reached between Greece and its creditors. Also, the yields on Italian debt remain at 4-month low, another sign that the chances of sovereign debt contagion are becoming increasingly unlikely.

If you are looking for professional financial advice about managing your portfolio in the current market climate, speak to a deVere Financial Adviser today.

Asia in the green as companies boost forecasts

2012-02-08T08:02:11+00:00

Asia in the green as companies boost forecasts

Asian stocks are enjoying the biggest rally in 2 weeks, after car manufacturing giant Toyota raised its net income, operating profit and revenue forecasts for the year ending March 31.

The MSCI Asia Pacific Index jumped 1.2 % in Tokyo and is looking to close at a 6 month high, whilst European equity futures also climbed and the Euro touched an 8-week high as Greek leaders step closer towards sealing a €130 billion rescue plan with international creditors.

“I’m very bullish on the market... I don’t have a view that the world is going to fall apart, so you need to take on more risk. You need to overcome all this noise and there are great values in equities”, commented BlackRock CEO Laurence D. Fink.

Notably, the MSCI Asia Pacific Index has risen 18% since October, approaching the 20% increase that signifies a bull market to some investors. It is currently trading at 14 times estimated earnings, the highest level in 11 months, according to data.

If you wish to learn more about investing in Asia, speak to deVere Financial Adviser today.

deVere Group announces 12 new offices within 4 months

2012-02-08T12:02:00+00:00

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China to stop mortgage loans for foreigners

2012-02-07T03:02:25+00:00

China to stop mortgage loans for foreigners

The National Development and Reform Commission in China has stated on Tuesday that it will no longer approve medium and long-term loans to fund mortgages taken out by foreigners.

The move comes in an attempt to cool the booming domestic property market in the world’s most populous country. The Chinese authorities had already introduced a host of measures last year to prevent speculative bubbles in the property market.

Meanwhile, property prices have already started falling, with new home prices falling in 52 out of 70 Chinese cities in December from the previous month, according to the National Bureau of Statistics.

Moreover, foreign direct investment also fell for the second consecutive month in December, as the environment for overseas money in China looks less welcoming. Direct investment into China has surged in recent years with international investors looking to profit from China's booming economy. Instead, investors are now urged to transfer their money offshore.

Property and mortgages specialist Neil Jensen commented that “Despite the new ruling, any foreigner who has lived or studied in China for at least one year is still allowed to buy one property, however it is unlikely that lending will be available”.

If you are an expatriate looking for professional financial advice about International Mortgages, speak a deVere Financial Adviser today.

deVere Group extends global presence with an office in Accra, Ghana

2012-02-07T01:02:27+00:00

deVere Group extends global presence with an office in Accra, Ghana

The deVere Group, the World's Largest Independent Financial Advisory, is delighted to announce that it is extending its global presence with a new office in Accra, Ghana.

The new office will be the 8th market that the group has entered in the Africa region over the past 4 years. deVere's truly global reach now extends to over 60 offices worldwide. As one of the fastest growing financial services organisations in Sub-Saharan Africa, Ghana is a natural market for deVere Group's progression.

deVere Group Regional Manager, Craig Featherby commented, “With Ghana currently having one of the fastest growing economies on the continent, it made logical sense for us to have a base there. This office will also act as a springboard into other countries in the West African region”.

The new branch also continues to strengthen deVere’s commitment to reach their clients wherever they may be in the world.

deVere Accra Area Manager, Mike Yuille added, “We are excited at the prospect of doing business in this part of the world, which is undergoing massive expansion, due to its huge wealth of natural resources and entrepreneurial flair”.

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The deVere Group is the World's Largest Independent International Financial Consultancy. International investors and expatriates employ us to find financial services products that suit their medium to long term requirements for investments, savings and pensions. With in excess of US$8 billion of funds under administration and management, deVere has more than 60,000 clients in over 100 countries. Our independence and ability to offer financial products that are tailor-made to fit an individual's needs are behind our success.

www.devere-group.com

T +34 636 978 880

deVere Group extends global presence with an office in Tete, Mozambique

2012-02-07T12:02:40+00:00

deVere Group extends global presence with an office in Tete, Mozambique

The deVere Group, the World's Largest Independent Financial Advisory, is delighted to announce that it is extending its global presence with a new office in Tete, Mozambique.

The new office will be the 2nd in the country, building on the success of the Maputo branch. The opening of deVere Tete also demonstrates the Group’s commitment to the region and continuing contribution to the local economy.

deVere Tete Area Manager, Thomas Roberts commented, “We are excited by the prospect of building and developing on the existing relationships that we have within the thriving expatriate community and international companies, based here in Tete. Due to the ever expanding energy reserves, we are seeing tremendous growth potential within the entire province.”

deVere Africa Regional Manager Craig Featherby, stated, “With more and more international companies looking to build and develop business within the region, having a fully functional office means that we are able to provide our expert advice as and when the client requires, thus ensuring that our clients receive the highest possible level of service which no other company in our market can provide.”

The new branch also continues to strengthen deVere’s commitment to reach their clients wherever they may be in the world.

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The deVere Group is the World's Largest Independent International Financial Consultancy. International investors and expatriates employ us to find financial services products that suit their medium to long term requirements for investments, savings and pensions. With in excess of US$8 billion of funds under administration and management, deVere has more than 60,000 clients in over 100 countries. Our independence and ability to offer financial products that are tailor-made to fit an individual's needs are behind our success.

www.devere-group.com

T +34 636 978 880

deVere Group extends global presence with an office in Grand Baie, Mauritius

2012-02-07T12:02:37+00:00

deVere Group extends global presence with an office in Grand Baie, Mauritius

The deVere Group, the World's Largest Independent Financial Advisory, is delighted to announce that it is extending its global presence with a new office in Grand Baie, Mauritius.

The new office will be the 7th market that the group has entered in Africa over the past 4 years.

deVere Group Regional Director, Craig Featherby commented, “With Mauritius emerging as one of the global financial service centres, it was imperative that we created a presence there and we are looking forward to the opportunities that exist”.

deVere's truly global reach now extends to over 60 offices worldwide. As one of the fastest growing financial services organisations in Sub-Saharan Africa, Mauritius is a natural market for deVere Group's progression. The deVere Mauritius office will also be home to the specialist QROPS team, who will be providing retirement solutions throughout other parts of Africa.

The new branch therefore continues to strengthen deVere’s commitment to reach their clients wherever they may be in the world.

deVere Area Manager in Mauritius, Gareth Davies, said that he has big plans for the office which will operate under Investment Adviser (Unrestricted) Licence. “Within two years we will be the dominant force in a highly competitive market. This office has a huge amount of potential, and we are looking forward to the challenge”.

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The deVere Group is the World's Largest Independent International Financial Consultancy. International investors and expatriates employ us to find financial services products that suit their medium to long term requirements for investments, savings and pensions. With in excess of US$8 billion of funds under administration and management, deVere has more than 60,000 clients in over 100 countries. Our independence and ability to offer financial products that are tailor-made to fit an individual's needs are behind our success.

www.devere-group.com

T +34 636 978 880

deVere Group extends global presence with an office in Grand Baie, Mauritius

2012-02-07T12:02:32+00:00

Apple iPhone business bigger than Microsoft

2012-02-07T11:02:55+00:00

Apple iPhone business bigger than Microsoft

According to recent revenue figures, Apple's iPhone business is now bigger than the whole of Microsoft, as it generated over $24 billion in revenue in the fourth quarter of 2011 alone.

The figures thus compare with those of Microsoft, which generated $20.9 billion in the same quarter for the whole company, including the Xbox, Windows, Microsoft Office and Windows Phone. Notably, Microsoft's figures increased 5% in the period from a year earlier, marking a record for the company.

In August 2011, Apple overtook Exxon to become the world's largest company in terms of market cap. Before that, Apple only overtook Microsoft's market capitalisation in May 2010.

Meanwhile, stocks in Apple continued their record streak with a new closing high on Monday, ending the day at US$ 463.97, up $4.29 or 0.93%, giving the company a market capitalization of $432.6 billion, meaning that Apple is still the world’s most valuable company.

If wish to learn more about investing in the ever-growing technology market, speak to an experienced deVere Financial Adviser today

AUS rises to 6-month high, as rates remain unchanged

2012-02-07T08:02:51+00:00

AUS rises to 6-month high, as rates remain unchanged

Australia’s Dollar rose to the highest price in 6 months after the Reserve Bank unexpectedly announced that the interest rates will remain unchanged and signalled optimism that global economic growth will strengthen.

Central Bank Governor Glenn Stevens said that sentiment in financial markets has “generally improved” since December, thus pushing the Aussie up against all of its 16 major peers. “With growth expected to be close to trend and inflation close to target, the board judged that the setting of monetary policy was appropriate for the moment”, he added.

“Leaving the cash rate at 4.25 percent was a big surprise to consensus, so it’s not surprising to see Aussie jumping”, explained Senior Currency Strategist, Sue Trinh.

Meanwhile, New Zealand’s Dollar was little changed amid low demand for riskier assets, as Greek Prime Minister Lucas Papademos began a second round of negotiations with international creditors in Athens to avoid economic default.

For a more detailed currency outlook or to find out how economic and political news could affect your currency transfers, speak to a deVere FX Manager today.

Goldman Sachs raises forecast for Chinese stocks

2012-02-07T12:02:00+00:00

Goldman Sachs raises forecast for Chinese stocks

Goldman Sachs Group , the global investment banking and securities firm, has raised its forecast for Hong Kong-traded Chinese stocks by 12%, on the back of improving economic growth prospects.

Goldman Sachs thus increased the target for the Hang Seng China Enterprises Index, which has rallied 16% this year alone, to 13,600.

Meanwhile, over-all, Chinese stocks have rebounded in the first month of 2012, on speculation that the Government will ease monetary policy to boost economic growth. “Valuation is low, we have passed the bulk of earnings cut and positioning is still light enough that many investors still have a ‘buy on dips’ mentality”, Analyst Helen Zhu said in a report.

Goldman Sachs also reiterated that China remains its strongest market view, supported by an accommodative policy cycle. The firm also said that the “recent reduction of tail risks in the Euro-zone” may also spur gains for Chinese stocks.

Notably, the People’s Bank of China cut lenders’ reserve requirements ratios late last year, the first reduction since 2008. It also raised its key interest rates 3 times and lifted reserve ratios 6 times last year to cool inflation that accelerated to its fastest pace in 3 years in July.

If you wish to learn more about investing in China, one of the leading emerging markets, speak to an experience deVere Financial Adviser today.

deVere Group extends global presence with an office in Grand Baie, Mauritius

2012-02-07T12:02:00+00:00

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Euro lowest in a week against USD

2012-02-06T12:02:24+00:00

Euro lowest in a week against USD

The European shared currency fell to the lowest in a week against the US Dollar, as well as the Japanese Yen, as the second bail-out for Greece from international creditors is still not yet sealed.

The Euro has on Monday slid against 13 of its 16 major peers, particularly as Fitch credit rating agency speculated that a Greek disorderly default “cannot be wholly discounted”.

“The talks are influencing risk sentiment and the euro’s dynamics”, explained Currency Strategist Jeremy Stretch. Markets are still a little nervous, as a Greek default is not off the table, he added.

At the time of writing, the EUR is trading 0.69% lower against the USD at $1.30660 and 0.90% lower against the Yen at 100.08800 per Euro.

Meanwhile, Greek Prime Minister Lucas Papademos struck an ambitious deal with political leaders to extend spending cuts following EU instructions. They are expected to meet today to complete an accord, as international creditors imposed an 11 am deadline for a final deal.

For a more detailed currency outlook or to find out how economic and political news could affect your currency transfers, speak to a deVere FX Manager today.

Asia extends last week’s rally, as US reports growth data

2012-02-06T08:02:11+00:00

Asia extends last week’s rally, as US reports growth data

Asian stocks have on Monday extended last week’s rally, led by consumer companies, after the US reported better than expected employment growth.

The Nikkei 225 added 1.10% to 8,929.2, whilst the MSCI Asia Pacific Index climbed 0.5% and the Shanghai Composite Index is up 0.03% in Asian trading today. Moreover, the S&P 500 closed at a 6-month high on Friday, following data from the US which showed that American employers added 243,000 jobs in January. The US unemployment rate thus dropped to 8.3%, the lowest since February 2009.

On the other hand, the new-found strength of the US Dollar pushed the Euro down 0.6%, as Greek leaders are still working towards a funding agreement. Greek Prime Minister Lucas Papademos struck an ambitious deal with political leaders to extend spending cuts following EU instructions. They are expected to meet today to complete an accord, as international creditors imposed an 11 am deadline for a final deal.

The hesitation in Euro is directly related to the concerns in the market that Greece may not get an agreement, explained currency strategist Emma Lawson.

France plans to sell as much as €8.5 billion of bills today.

If you have investments linked to the Euro and are looking for professional financial advice, speak to an experienced deVere Financial Adviser today.

Indonesia grows 6.5%, on track for best year in decades

2012-02-06T12:02:00+00:00

Indonesia grows 6.5%, on track for best year in decades

Indonesia, one of the fast-growing emerging market economies, grew faster than expected in the final quarter of 2011, remaining on track to the strongest performance in full year growth since late 1990s.

In Q4 of 2011, the Indonesian economy expanded 6.5%, above the median forecast, as domestic consumption and investment enabled Indonesia to power ahead of its peers.

“Our domestic market remained robust”, commented Suryamin, the Head of Indonesia's statistics bureau.

Meanwhile, Analysts are now waiting to see whether the central bank will cut interest rates at its monthly meeting this Thursday, as inflation is expected to come at 3-year high.

Notably, Indonesia is also a member of the G20 and has one of the youngest workforces in Asia. If you wish to learn more about investing in fast-growing emerging markets, speak to an experienced deVere Financial Adviser today.

Indonesia grows 6.5%, on track for best year in decades

2012-02-06T12:02:00+00:00

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Weekly Currency Update 03/02/2012

2012-02-03T12:02:00+00:00

Weekly Currency Update 03/02/2012

Europe

The 17-nation currency slid against most of its major counterparts following concern that Greece is struggling to reach an agreement with its bondholders in an attempt to relieve the nation’s debt burden. The fact that there is no real incentive for Greek creditors to voluntarily agree to cut the debt burden could prove to be an obstacle in concluding the negotiations and this could worsen the actual situation.

The shared currency dropped 0.1 percent to $1.3144 yesterday afternoon in New York after rising to $1.3197. The euro weakened 0.1 percent to 100.18 yen.

North America

The dollar pared gains yesterday following a report that U.S. jobless claims have dropped to their lowest level in nearly four years boosting investors’ interest in the dollar as a means of safe heaven. Meanwhile, investors are also following from a close distance the evolution of the talks over writedowns on Greek debt held by private bondholders. The ICE dollar index, which measures the performance of the U.S unit against 6 other major trading currencies, stood lately at 79.010, weakening from an earlier high of 79.203, but still higher from 78.925 late Wednesday.

Around the world

Asian currencies headed for a fifth weekly advance, with Taiwan’s dollar in the leading spot, as foreign investors invested money into the region amid optimism of a recovery of the global economy. The Taiwan dollar rose 1.6 percent this week to NT$29.527 against the greenback.
The Asia Dollar Index, which measures the region’s 10 most-traded currencies excluding the yen, reached a three-month high yesterday.

South Korea’s won completed a fourth weekly gain following signs of recovery spurring capital inflows into the nation’s stocks. The won strengthened 0.5 percent this week to 1,118.07 per dollar.
Elsewhere, Australian and New Zealand dollars dropped on signs Greece is struggling to reach common grounds with its bondholders concerning the writing down of their debt burden.
The Aussie lost 0.2 percent to $1.0691 from yesterday, when it reached $1.0757, the strongest level since Sept.1. On the other hand, the kiwi fell 0.2 percent to 83.15 U.S. cents.

For a more detailed outlook or to find out how economic and political news could affect your currency transfers call your dedicated FX trader on 0207 411 9858 or email fxenquires@devere-group.com.

Retirement planning should be taught in schools

2012-02-02T05:02:25+00:00

Retirement planning should be taught in schools

Retirement planning should be on the National Curriculum in all secondary schools alongside English, maths and science, says Nigel Green, CEO of the deVere Group, the world’s largest financial advisory firm.

“Planning for your future financial security is a fundamental life skill that is consistently overlooked. At a time when Britain is in the midst of an unprecedented, and growing, pensions crisis it is of paramount importance that we teach young people how to be financially independent in retirement.

“Financial, economic and political analysts all agree that in the future the State will not have the funds to be able to provide for its citizens as has it has done for previous generations; as a result it is our duty to educate youngsters how to do it for themselves,” he adds.

Green, whose company, the deVere Group, specialises in tailor-made solutions for retirees worldwide, argues that teaching retirement planning in schools would be beneficial to the country and the individual.

He explains: “Educating young people that financial planning for their mature years is a personal responsibility will ease the burden on the Government and tax payer, thereby meaning that the scant resources can be allocated to those most in need.

“With annuity rates having been reduced considerably, state benefits falling, and employers shifting away from final salary benefits, taking control of their retirement planning is the only way that people will be sure of any real financial security in their ‘golden years’.”

What are the risks of not teaching the next generation of workers this ‘life skill’?

“We could be condemning a whole generation to a poverty-stricken retirement,” affirms Green. “The earlier people start to make informed decisions, the easier it will be for them to enjoy the lifestyle that they deserve when they retire.”

Shockingly, 49 out of 100 people currently aged 25 will be dependent on friends, family and charity in their retirement, according to official UK data.

Nigel Green is dismayed, but not surprised, by this statistic. “It is very alarming indeed. But it boils down to the fact that, as a country, we’re ill-educated about retirement planning and now the money’s running out – and fast.

“Now is the time to start teaching our young people how to manage their financial futures. Schools provide career advice, quite rightly, but nowadays we should also be offering retirement advice too. Ultimately, it could be as important as The Three Rs.”

South Africa gains from Gold as Rand loses value

2012-02-02T04:02:03+00:00

South Africa gains from Gold as Rand loses value

South African Gold companies are set to report positive quarterly earnings, benefiting from the largest slump in the Rand in 3 years, as the local price of Gold jumped 12%.

Harmony Gold Mining, the country’s third-largest Gold producer, is expected to report earnings of 1.49 Rand a share for Q4, up 57% from the previous three months as it gains from a weaker Rand since it mines about 90% of its Gold in South Africa.

Gold companies in South Africa, which is the largest producer of the metal in Africa, gain from a weaker Rand because they sell much of their output for USD and pay most costs in Rand. The Rand fell 13% during the quarter from the previous three months, its biggest decline in 12 quarters.

Analyst Percy Takunda commented that, “I expect them to make strong statements on dividends”.

If you have investments in South Africa and are looking for professional financial advice, speak to deVere Financial Adviser today.

533.8 million Facebook shares to go on sale

2012-02-02T03:02:32+00:00

533.8 million Facebook shares to go on sale

According to yesterday’s regulatory filing, Facebook is about to go public with 533.8 million shares, 28.4% stake of the social networking giant.

Facebook’s first IPO is expected to value co-founder Mark Zuckerberg’s stake at $28.4 billion, making him richer than Google’s co-founders and almost as rich as Larry Ellison, who pioneered Oracle 35 years ago. Notably, Zuckerberg will also maintain command of the company.

Facebook said that it plans to raise as much as $5 billion in its IPO.

“He’s shown a great deal of wisdom and maturity in bringing the company to this level of stability and profitability before going public”, Analyst Rebecca Lieb commented.

If you wish to learn more about investing in technology, speak to an experienced deVere Adviser today.

deVere holding Expat Seminar in Brussels in February

2012-02-02T12:02:16+00:00

deVere holding Expat Seminar in Brussels in February

The deVere Group, the World’s Largest Independent Financial Advisory, is holding a Seminar for expats in Brussels.

The informative deVere Seminar about QROPS, QNUPS, tax planning and estate planning, succession tax, portfolio management, Structured Notes and the investment market, will be held on Thursday, 23 February 2012 at 6pm, at the British Embassy in Brussels, Belgium.

Our experts from leading financial institutions in the industry will explain the fantastic opportunities available to you as an expatriate living abroad with a frozen pension back home.

deVere Managing Partner Steven Cowans said, “For all expats, the major concern now is the security of their pension fund. Taking into account the issues that major companies have had to face lately, this could result in thousands of UK workers losing their pensions. We cannot emphasise enough, the importance of securing your retirement and being in control of your financial future”.

Contact the deVere Belgium office to book your place at the seminar today +32 2711 0050. You may also book online.

The presentation will be followed by a 30min Q&A session and refreshments.

International investors and expatriates employ us to find the right financial products that best suit their medium to long-term requirements for insurance, investments, savings and pensions.

Global stocks see best start since 1994

2012-02-02T10:02:00+00:00

Global stocks see best start since 1994

Stocks around the world are heading towards the best start in 18 years, with almost $3 trillion added to stock values and European shares ending a 5-month bear market, as economists increased forecasts for US economic growth.

The MSCI All-Country World Index rose 5.8%, as financials and mining companies rallied over 9.3% following signs of accelerating US economic growth and as European leaders move closer to a consolidating solution for the region’s debt crisis.

Moreover, optimistic American unemployment data, lower inflation figures in China, as well as improved German investor confidence, also pushed equities up as the US Federal Reserve pledged to keep interest rates near 0% until 2014.

“The positive economic surprises changed investors’ mindset about the probabilities of the US tipping into a recession. Furthermore, you saw earnings come in generally better than expected”, commented Chief Investment Officer David Goerz.

If you are looking for professional financial advice about your next investment move in the current market climate, speak to a deVere Financial Adviser today.

Facebook IPO to make Zuckerberg multibillionaire at 27

2012-02-02T07:02:28+00:00

Facebook IPO to make Zuckerberg multibillionaire at 27

The social networking giant yesterday filed papers for a $5 billion initial public offering that begins the process for Facebook’s highly-anticipated stock market debut, which will turn Chief Executive and co-founder Mark Zuckerberg into a 27-year-old multibillionaire.

Based on secondary market trading which values Facebook at $80 billion, Zuckerberg’s 28.4% stake would give him a paper worth of $22.7 billion. Remarkably, Zuckerberg is also expected to retain the absolute control of the company as he and his close allies own 57% of Facebook, giving him the ability to run it like a mission-driven public trust.

“Facebook exists to make the world more open and connected, and not just to build a company”, the Facebook co-founder wrote in a letter to investors in the filing. “Simply put: we don’t build services to make money; we make money to build better services”.

Notably, after years of speculation, Facebook disclosed for the first time how much money it makes. In 2011, the company generated $3.7 billion in revenues, a staggering 88% increase over 2010, whilst net income rose 65% to $1 billion.

The Facebook IPO, the largest in the internet industry since Google, is likely to raise $5 billion before May. Morgan Stanley won the lead bank position, with JPMorgan second and Goldman Sachs in third.

If you wish to learn more about investing in technology funds, speak to an experienced deVere Financial Adviser today.

Asia rallies for third day, on optimistic US data

2012-02-02T07:02:52+00:00

Asia rallies for third day, on optimistic US data

Stocks in Asia rose for the third consecutive day and Asian currencies strengthened to a 3-month high, in reaction to US data which showed a global expansion in manufacturing.

The MSCI Asia Pacific Index gained 1%, the Nikkei 225 is up 0.76% to 8,877 and the Shanghai Composite Index added 1.72%.

Stocks gained following data from the Institute for Supply Management which showed that US manufacturing grew at the fastest pace since June, whilst Government reports also showed that construction spending increased more than forecast.

Fund Manager Mitsushige Akino commented that, “We got more confirmation that business confidence in the U.S. and Europe is improving”. The European debt crisis is in a temporary lull, so stocks which are sensitive to the economy now have a chance to gain, he added.

If you are living in Asia and are looking for professional financial advice, speak to an experienced deVere Adviser today.

Malta in pole position for QROPS

2012-02-02T12:02:00+00:00

Malta in pole position for QROPS

Following the recent proposed changes for the QROPS legislation, the UK pension transfer business is still very much ‘business as usual’. However, some jurisdiction have grown to become more favourable than others.

Experts in the industry believe that there will be a clearer outcome post ‘Q-day’ on April 6th 2012. Despite speculation that several jurisdictions will not meet the proposed qualifying criteria and may lose their QROPS status at midnight on 5 April, 2012, HMRC has assured that all members in these schemes are protected. Moreover, the new legislation has no adverse tax consequences for clients who are transferring their UK pensions to a QROPS.

On the other hand, countries such as Malta, seem to be increasingly picking up QROPS business thanks to their European Union membership status. Malta’s position remains rather unchanged, which will automatically place it at an advantage ahead of other jurisdictions. In addition, as its low-tax environment and remittance tax basis is accepted within the EU, it also gains an economic, political and legislative advantage. Notably, Malta is also not prescribed to meet the 70% rule, because it qualifies as a QROPS jurisdiction by virtue of its full EU membership.

Furthermore, Malta is poised to take advantage of the cross-border EU pension transfer market, such as EURBS, which the deVere Group pioneered in late 2011.

If you wish to learn more about pension transfers through QROPS or EURBS, speak to a deVere Financial Adviser today.

Global stocks see best start since 1994

2012-02-02T12:02:00+00:00

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Malta in pole position for QROPS

2012-02-02T12:02:00+00:00

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Retirement planning should be taught in schools

2012-02-02T12:02:00+00:00

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Morgan Stanley to lead Facebook IPO

2012-02-01T04:02:39+00:00

Morgan Stanley to lead Facebook IPO

According to sources, Facebook, the world’s largest online social network, has assigned Morgan Stanley to lead the company to its planned initial public offering to raise $5 billion.

Notably, this will not be the first high-profile social media deal for Morgan Stanley. In fact, they have assisted many similar IPOs last year. Sources also said that Morgan Stanley stands to earn a large share of the fees collected by securities firms for arranging the IPO. The Facebook IPO may generate as much as $500 million in fees.

Goldman Sachs, JPMorgan, Barclays and Bank of America are also expected to assist in the sale.

Facebook has not yet publically confirmed the news.

Russia grows 4.3% in 2011, beyond forecasts

2012-02-01T11:02:42+00:00

Russia grows 4.3% in 2011, beyond forecasts

Russia, one of the leading emerging market economies, grew by 4.3% last year, on the back of a surge in agricultural output and robust consumer spending.

The optimistic 2011 GDP growth came after a particularly strong second half and notably surprised economists who had predicted a 4% increase.

Chief Economist Vladimir Tikhonov, commented that the jump in full-year economic growth is a result of a dramatic turnaround in the agricultural sector, which suffered a devastating drought and forest fires a year earlier. Notably, agricultural output jumped 16.1% in 2011, versus a 9.7% contraction a year earlier.

The strong harvest also helped bring inflation down to 6.1%, the lowest in more than two decades, which was welcomed in consumer wage increases and in disposable incomes.

If you wish to learn more about investing in Emerging Markets, speak to a deVere Financial Adviser today.

Amazon stock drops 11% in extended trading

2012-02-01T08:02:22+00:00

Amazon stock drops 11% in extended trading

Amazon.com, the world’s largest internet retailer, fell a staggering 11% yesterday, as investors reacted after the company missed its sales estimates in Q4 of 2011.

In a statement, Amazon said yesterday that fourth-quarter revenue fell to $17.4 billion and net income fell 57% to $177 million, notably from $416 million a year earlier.

The multinational electronics company therefore received less revenue from digital media than anticipated, after it had conditioned investors to expect stronger growth, making the latest results even more disappointing.

Amazon fell by much as $21.80 to $172.64, from $194.44 earlier in the day. However, Amazon stock increased by 15% in the past 12 months.

If you wish to learn more about investing in diversified technology funds that are not tied to one stock, speak to a deVere Financial Adviser today.

Hong Kong to boost economy with $10 billion

2012-02-01T07:02:58+00:00

Hong Kong to boost economy with $10 billion

In the highly anticipated 2012 budget speech, Hong Kong Financial Secretary John Tsang said today that the Government is looking to spending almost HK$80 billion ($10.3 billion) to bolster economic growth.

Tsang said that the measures will include infrastructure spending, property-rate waivers and tax benefits. Notably, Hong Kong is known to be the world’s most expensive place to own a home.

“The budget measures should help to buffer local household spending from the impact of slower global growth”, Economist Donna Kwok commented. GDP is expected to rise between 1- 3% this year.

In addition, Tsang also said that Hong Kong will issue as much as HK$10 billion of inflation- linked bonds, to help residents cope with rising prices.

Meanwhile, the benchmark Hang Seng Index swung between gains and losses, rising 0.02% at midday.

If you are a high net worth individual living in Hong Kong and are looking for professional financial advice, speak to an experienced deVere Financial Adviser today.

China manufacturing indicating expansion in strong start to 2012

2012-02-01T07:02:41+00:00

China manufacturing indicating expansion in strong start to 2012

According to an official survey, the manufacturing sector in China made a surprisingly strong start to the year, with purchasing managers’ index rising to 50.5 in January, as strong domestic orders cushion the impact of the European troubles.

The important PMI gauge of factory growth therefore remained above 50, indicating an expansion in industrial activity and an increase in domestic business, as the world’s second-largest economy clearly remains robust.

“The Chinese economy has gradually stabilised. The rise in new orders and raw material inventories reflects a recovery for industrial companies”, Analyst Zhang Liqun commented.

Meanwhile, analysts had also predicted that the central bank would cut bank reserve ratios in January, in an effort to pump liquidity into the financial system and prop up the economy. However, following the reserve cut in November, the central bank instead adopted for more cautious tactics and relied on its open-market operations to inject cash in to the economy.

Notably, according to a report published today by Ernst & Young, the Chinese economy is expected to grow 8.1% this year and will rebound to more than 9% growth in 2013.

If you are living in China and are looking for professional financial advice, speak to a deVere Financial Adviser today.

S&P 500 poised for best January in 15 years

2012-01-31T03:01:03+00:00

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S&P 500 poised for best January in 15 years

2012-01-31T03:01:25+00:00

S&P 500 poised for best January in 15 years

The Standard & Poor’s 500 Index is heading toward its best January in 15 years, as US stocks rose following news of tight EU budget treaties and progress between Greece and its bondholders.

The S&P 500 added 0.4% to 1,318.20 earlier in New York, led by financial stocks, looking to wrap up the best start to a year since the 1990s.

“We’re moving closer to relief from the European problem becoming one of catastrophe”, Chief Investment Strategist Mark Luschini commented. “The market is recognising that European officials are working towards solutions...the US economy continues to remain positive and the corporate picture remains pretty decent”, he added.

Across the board, global stocks rose today as EU leaders yesterday in Brussels completed a fiscal-discipline treaty that strengthens sanctions on high-deficit states and as Greek Prime Minister Lucas Papademos said that he is "strongly committed" to reach a debt-swap pact with bondholders.

If you are looking for professional financial advice in the current market climate, speak to an experienced Financial Adviser today.

FTSE 100 rebounds, as EU countries agree budget treaty

2012-01-31T10:01:51+00:00

FTSE 100 rebounds, as EU countries agree budget treaty

The benchmark FTSE 100 Index gained 0.72% to 5,712, as the European Union yesterday agreed towards tighter controls in national fiscal budgets.

Late on Monday in Brussels, 25 of the 27 member states completed a fiscal-discipline treaty that allows stricter sanctions on high-deficit states, thus requiring Euro countries to anchor balanced-budget rules in national law. The aim of the treaty is to enforce closer coordination of budget policy across the EU, in order to prevent excessive debts accumulating.

The treaty would empower the European Court of Justice to monitor compliance and impose fines on rule-breakers and allows an enhanced role of the European Commission in scrutinising national budgets.

Meanwhile, however, the Czech Republic and the UK refused to sign the treaty, with UK Prime Minister David Cameron citing that his Government will act if the treaty threatens UK interests. Cameron said that he has “legal concerns” about EU institutions enforcing the fiscal treaty.

According to French President Nicolas Sarkozy, the Czechs cited “constitutional reasons” for their refusal. Others also commented that Czech President Vaclav Klaus is a Eurosceptic and may thus be reluctant to sign the treaty.

If you are looking for professional financial advice in relation to recent developments in Europe, speak to a deVere Financial Adviser today.

Japan ending the month up 4.1%, as Greece nears deal

2012-01-31T08:01:06+00:00

Japan ending the month up 4.1%, as Greece nears deal

Japan’s Nikkei 225 stock average rose on Tuesday, snapping a 3-day losing streak, after Greek Prime Minister Lucas Papademos told reporters in Brussels that optimistic progress has been made in negotiations and said that he is “strongly committed” to reaching a debt-swap agreement with bondholders by the end of week.

The news thus somewhat eased concern that Europe will indeed be able to handle its debt crisis. Consequently, Asian shares rose with the Shanghai Composite index reporting a 0.33% gain and the Japanese Nikkei adding 0.11% led by electronics makers and auto manufacturers.

Meanwhile, across the board, European stocks also rose, snapping a 2-day drop, as most countries in the EU agreed towards tighter budget controls. The FTSE 100 is up 0.69% and the Eurofirst 300 gained 0.51% at the time of writing.

If you are looking for professional financial advice amid the current market climate, speak to a deVere Financial Adviser today.

Emerging market currencies see best start of the year

2012-01-31T08:01:04+00:00

Emerging market currencies see best start of the year

Currencies of emerging market economies are on track for the best start of the year since the turn of the century, as investors gain back a strong appetite for risk.

Of which, the Mexican Peso, the Brazilian Real and Indian Rupee outstripped currencies of the developed world, to gain more than 5% against the US dollar this year alone. Moreover, the Peso and the Rupee have both risen 7% this month against the USD, while the Real and the Russian Rouble are up 6% since the start of the year. Notably, the main 15 emerging market currencies have already each risen more than their historical average performance.

“It has been a spectacular start to the year for emerging market currencies”, commented Currency Analyst Benoit Anne.

In contrast, developed markets currencies such as the Euro, Yen and the Pound have risen less than 1.5% against the US Dollar.

Furthermore, emerging market equities have also risen in line with their respective currencies, as international investors’ appetite for risk rose sharply and so, fund managers saw massive buying opportunities after last year’s deep price declines.

If you wish to learn more about investing in emerging market economies, speak to a deVere Financial Adviser today.

Foreign investors invested over $2 billion in India this year

2012-01-30T01:01:58+00:00

Foreign investors invested over $2 billion in India this year

According to the Securities & Exchange Board of India, foreign investors invested a net 13.6 billion rupees ($274.8 million) of Indian stocks on Jan 27, adding to a total of 103.7 billion Rupees (over $2 billion ) invested in 2012 alone.

Such news is very positive for India’s $1.1 trillion stock market which is influenced by flows from overseas and is now Asia’s fifth largest stock market. Foreign investor inflows surged to a record in 2010, marking the Sensex as the best performer among the world’s top 10 markets.

Meanwhile, the Europe’s debt crisis that threatened the global economy last year had also cooled demand for emerging-market assets, leading to a 25% drop in the BSE India Sensitive Index and sent the Rupee to an all-time low, thus creating a massive opportunity for long-term investors to enter such lucrative market.

Notably, India expected to overtake China as the world’s largest economy by 2050. If you wish to learn more about investing in India's recovery, speak to a deVere Financial Adviser today.

EU to agree on permanent bailout fund today

2012-01-30T11:01:19+00:00

EU to agree on permanent bailout fund today

European Union leaders will today sign off a permanent rescue fund for the Euro-zone at the highly-anticipated summit in Brussels, as Europe continues to battle to resolve its sovereign debt problems.

According to speculation, the summit will announce that up to €20 billion of unused funds from the EU's 2007-2013 budget will be redirected toward job creation and will commit to loosen bank lending to small and medium-sized companies. The EU leaders are also expected to agree on a balanced budget rule in national legislation, as unresolved problems in Greece may cast a shadow on the discussions. Meanwhile, negotiations between the Greek Government and private bondholders to restructure €200 billion of Greek debt, have made progress over the weekend.

Until a deal between Greece and its private bondholders is reached, EU leaders cannot move forward with the second €130 billion rescue program for the Greeks, which they originally agreed to at a summit last October. Instead, they are expected to sign a treaty to create the European Stability Mechanism (ESM), a €500 billion permanent bailout fund that is due to become operational in July, a year earlier than initially planned.

If you are looking for professional financial advice, speak to a deVere Financial Adviser today.

France to tax financial transactions from August - Sarkozy

2012-01-30T08:01:15+00:00

France to tax financial transactions from August - Sarkozy

France, the second largest economy of the Euro-zone and one of the pillars of the EU, is planning to impose a 0.1% Financial Transactions Tax as of August 2012, despite strong opposition from national banks.

French President Nicolas Sarkozy said late yesterday that his Government does not want to provide a shock by implementing the France-only levy, he simply wants to set an example. “There’s no reason why deregulated finance, which brought us to the current situation, can’t participate in the restoration of our accounts”. Sarkozy expects to raise about €1 billion in revenue from the transaction tax “that will go toward cutting the deficit”.

However, the levy has seen strong opposition from France’s financial community and its feasibility has been largely questioned by the Bank of France. Meanwhile, Sarkozy is facing one of the hardest political challenges, amidst the run-up for the Presidency elections in a 2-round vote in April and May.

The European Commission in September last year suggested a tax of 0.1% on equity and bond transactions and 0.01% on derivatives, which could raise €55 billion a year. European Union Finance Ministers are due to discuss the levy in March.

If you are looking for professional financial advice about the implications of the Financial Transaction Tax, speak to a deVere Financial Adviser today.

Weekly Currency Update 27/01/2012

2012-01-27T04:01:56+00:00

Weekly Currency Update 27/01/2012

Europe

Europe’s shared currency advanced to a five-week high against the greenback and rose to a one-month peak against the yen on Thursday following speculation of a breakthrough in Greek debt negotiations and also a day after the Fed pledged that it will hold interest rates low until late 2014.

The euro rose to $1.31678 against the dollar, its highest level since Dec 21, moving beyond its 55-day moving average which comes in around $1.3130. The Stoxx 600 index gained 1.1% to 257.86, erasing a two-day losing streak. However, early this morning, the euro slid amid concerns over Europe’s debt crisis. The common currency dropped 0.2 percent to $1.3079 and slid 0.3 percent to 101.19 yen.

North America

The dollar weakened against all its 16 most-traded peers following the announcement of the Fed that it will keep interest rates near a zero level for a longer period than originally predicted, thus encouraging investors to seek for higher yields. The greenback reached a five-week low versus the euro after policy makers announced yesterday that the benchmark interest rate would remained unchanged until at least end of 2014 from mid-2013 and also because Italian yields dropped to a six-week low. The dollar was little changed at $1.3109 per euro yesterday afternoon in New York after sliding to $1.3184, the weakest level since Dec 21.

Canada’s dollar hit parity with its major counterpart for the first time in almost three months as commodities rose following the report that the Fed will extend its freeze on U.S borrowing costs. The loonie reached the strongest level since Nov. 1 and headed for a 1.1 percent advance on the week. The Canadian currency appreciated 0.3 percent to C$1.0018 per U.S dollar after touching 99.82 Canadian cents.

Around the world

Asia stocks experienced some fluctuations at the end of a slightly positive week, with bourses in Tokyo and Hong Kong losing their earlier gains. The Hang Seng Index slipped 0.1% in Homg Kong, while Japan’s Nikkei Stock Average dropping 0.1%. However, the yen advanced against all of its 16 major counterparts as extended negotiations over a debt-swap deal to avoid a Greek failure boosted the demand for refuge assets. The yen rose 0.4 percent to 101.11 euro today in Tokyo from yesterday, when it also advanced 0.4 percent.

Elsewhere, the New Zealand’s dollar was set to complete a six-week gain after a report showed that the country registered its first trade surplus in five months. The kiwi dollar was little changed at 82.17 U.S cents and set to advance 1.9 percent this week. It slid 0.5 percent to 63.29 yen, snapping the five-day surge to 1.9 percent. The Aussie on the other hand, dropped 0.1 percent to $1.0617 and dropped to 0.7 percent to 81.78 yen.

Finally, South Africa’s rand advanced to its strongest level versus the dollar in two and a half months after the Fed pledged to keep interest rates low until late 2014, spurring demand for higher-yielding assets. The rand appreciated as much as 0.2 percent to 7.8710 per dollar, the strongest level since Nov. 14.

For a more detailed currency outlook or to find out how economic and political news could affect your currency transfers, speak to a deVere FX Manager today.

deVere announces Pensions and Investments Seminar in Paris

2012-01-27T03:01:43+00:00

deVere announces Pensions and Investments Seminar in Paris

The deVere Group, the World's Largest Independent Financial Advisory, is organising an informative Seminar about pensions and investments, as well as how to make money in adverse market conditions.

The Seminar will be held on Wednesday April 4th, 2012, at the new deVere Paris office and it is aimed at giving attendants the chance to truly understand who the deVere Group is, their position in the market and how the deVere Group assists its clients from an independent professional advisory capacity.

The event will be opened and hosted by deVere Group Paris Managing Partner, Jason Trowles.

Guest speakers from some of the world’s leading financial institutions will also be there to give their expert view on what is going on in the markets and how to get the best out of such an uncertain economic time.