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Family Office Forum Singapore by Bloomberg

Bloomberg Singapore recently hosted a virtual Family Office Forum, which examined the city state’s increasing prominence in a sector which is expected to see US$15 trillion transition to the next generation between now and 2030. Asian ultra-high-net-worth (UHNW) families are expected to account for a significant share of first generation owners crossing 60 years of age.

In his welcome remarks, Bloomberg’s ASEAN Head, Steven Yankelson, pointed to the growing appeal Singapore offers to investors in terms of access to pan-Asian and global opportunities and how it is attracting more US and European family offices, in addition to Asia-based families.

Monetary Authority of Singapore’s Deputy Director Spencer Hsu in his keynote speech noted that the number of family offices in Singapore grew five-fold between 2017 and 2019.

More than 150 participants across Singapore, Hong Kong and ASEAN attended the forum from a mix of single family offices, multi-family offices, consulting firms and private banks. According to results of the live audience poll, the prime mandate of Singapore-based family offices is in investment returns and asset allocation (47%) , private equity or direct deals (19%) and 9% are in managing private bank accounts.

Only 11% of family office managers indicated that they were involved in family succession or legacy planning – and only 4% considered their family office to be “very well” prepared for succession planning and inter-generational wealth transfer while 45% said they were either only a “little” or “not at all” prepared for these future transitions.

When asked to rate – from 1-5 – the level of discretion given to them by their principals, 64% of participants in the forum indicated that they have relatively high levels of discretion. Raffles Family Office Managing Partner Kendrick Lee sees this trend continuing and expects a shift among family offices in Asia towards more discretionary mandates in the next 10 years.

Mr. Yankelson sees Bloomberg playing a part to support this burgeoning market. He said: “We are seeing more professionals from asset management and hedge funds joining family offices and, as a result, the technology stacks required have also become increasingly sophisticated. We are excited to support the growth of this sector and will continue to play our part to be a technology partner for family offices.”


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[I am not here to promote any stocks. Please always do your own research before embarking on any investment decision. I will not be liable for any of your own decisions. Your use of any information or materials is entirely at your own risk. It is your responsibility to ensure that any products, services or information meet your specific requirements. I do not produce material which meets the objectives of any specific financial and risk profile of investors.]
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Family Office Forum Singapore by Bloomberg

Bloomberg Singapore recently hosted a virtual Family Office Forum, which examined the city state’s increasing prominence in a sector which is expected to see US$15 trillion transition to the next generation between now and 2030. Asian ultra-high-net-worth (UHNW) families are expected to account for a significant share of first generation owners crossing 60 years of age.

In his welcome remarks, Bloomberg’s ASEAN Head, Steven Yankelson, pointed to the growing appeal Singapore offers to investors in terms of access to pan-Asian and global opportunities and how it is attracting more US and European family offices, in addition to Asia-based families.

Monetary Authority of Singapore’s Deputy Director Spencer Hsu in his keynote speech noted that the number of family offices in Singapore grew five-fold between 2017 and 2019.

More than 150 participants across Singapore, Hong Kong and ASEAN attended the forum from a mix of single family offices, multi-family offices, consulting firms and private banks. According to results of the live audience poll, the prime mandate of Singapore-based family offices is in investment returns and asset allocation (47%) , private equity or direct deals (19%) and 9% are in managing private bank accounts.

Only 11% of family office managers indicated that they were involved in family succession or legacy planning – and only 4% considered their family office to be “very well” prepared for succession planning and inter-generational wealth transfer while 45% said they were either only a “little” or “not at all” prepared for these future transitions.

When asked to rate – from 1-5 – the level of discretion given to them by their principals, 64% of participants in the forum indicated that they have relatively high levels of discretion. Raffles Family Office Managing Partner Kendrick Lee sees this trend continuing and expects a shift among family offices in Asia towards more discretionary mandates in the next 10 years.

Mr. Yankelson sees Bloomberg playing a part to support this burgeoning market. He said: “We are seeing more professionals from asset management and hedge funds joining family offices and, as a result, the technology stacks required have also become increasingly sophisticated. We are excited to support the growth of this sector and will continue to play our part to be a technology partner for family offices.”


Sent from my iPad using Tapatalk
[I am not here to promote any stocks. Please always do your own research before embarking on any investment decision. I will not be liable for any of your own decisions. Your use of any information or materials is entirely at your own risk. It is your responsibility to ensure that any products, services or information meet your specific requirements. I do not produce material which meets the objectives of any specific financial and risk profile of investors.]
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In my opinion, the current price of iFast is not richly valued at all. I beg to differ strongly from analyst’s views. Based on their track records, most of them are totally off their marks. Has anyone become millionaires because of following closely to analysist’s call? (laughing hahaha)

One can only imagine the sheer immense potential of the China market once the segment breaks even. We are not just talking about AUA of a few billions (for iFast) for the China’s segment. We are talking about 100 to 200 billion order AUA (far exceeding the segments in Singapore, Malaysia and Hong Kong aggregated together), given the trillions of dollars in the largely untapped and nascent wealth management industry in China. I will not delve into the technicalities of iFast’s model in China. The details are enclosed in the link below.

https://hubbis.com/article/china-puzzle-un...

Once China segment turns from loss making to zero profit, valuation is immediately improved by at least 40 to 50 cents (working: current 1.5 cents EPS x conservative PE of 30/35 = 40 - 50 cents). Mind you that we are not even talking about making any profit. Once the loss drag is removed, valuation is up immediately by 40 to 50 cents. Future earning potential is not factored in yet. If we are talking about future earning potential, I think the sky is the limit. I don’t know how to estimate. Probably $5 to $10 in terms of share price valuation.

Next I move on to the DB license. It is like a car retrofitted with a few turbo engines, boosting and giving the existing AUA the multiplier effect. Hence, a linear analysis (as estimated by many analysts) fly in face of conventional or linear stock analysis or evaluation. How does one estimate the so-called “turbo” or “multiple” effect? I have no idea. Perhaps, the more enlightened can help me shed light on this. With DB license, the AUA target of $100 billion by 2030 could perhaps be achieved within a much shorter timeframe.

iFast has not even reached the real critical mass in all the current markets (including Singapore)where the profit margins are on par with big comparable giants. So there is still a long runway to go.

So far, I have not seen many technical analysts making easy money. If technical charts are so easily deciphered and traded upon, we should be seeing lots of millionaire chartists around. Just need to short Dows in March 2020 and made millionaires, and buy right at the bottom, and made another a few millionaires on the way up (hahahaha)…

Those who are not convinced of the investment case for iFast will never buy iFast, regardless of its share price. So don’t need to waste time talking to them. Even if iFast drops to $1, they will say “lets wait until it drops to 80 cents. When it is 80 cents, they will say – let’s wait for it to drop to 70 cents”….

We have barely finished eating the appetizer. Main Courses have yet to be served!!!
[I am not here to promote any stocks. Please always do your own research before embarking on any investment decision. I will not be liable for any of your own decisions. Your use of any information or materials is entirely at your own risk. It is your responsibility to ensure that any products, services or information meet your specific requirements. I do not produce material which meets the objectives of any specific financial and risk profile of investors.]
Reply
In my opinion, the current price of iFast is not richly valued at all. I beg to differ strongly from analyst’s views. Based on their track records, most of them are totally off their marks. Has anyone become millionaires because of following closely to analysist’s call? (laughing hahaha)

One can only imagine the sheer immense potential of the China market once the segment breaks even. We are not just talking about AUA of a few billions (for iFast) for the China’s segment. We are talking about 100 to 200 billion order AUA (far exceeding the segments in Singapore, Malaysia and Hong Kong aggregated together), given the trillions of dollars in the largely untapped and nascent wealth management industry in China. I will not delve into the technicalities of iFast’s model in China. The details are enclosed in the link below.

https://hubbis.com/article/china-puzzle-un...

Once China segment turns from loss making to zero profit, valuation is immediately improved by at least 40 to 50 cents (working: current 1.5 cents EPS x conservative PE of 30/35 = 40 - 50 cents). Mind you that we are not even talking about making any profit. Once the loss drag is removed, valuation is up immediately by 40 to 50 cents. Future earning potential is not factored in yet. If we are talking about future earning potential, I think the sky is the limit. I don’t know how to estimate. Probably $5 to $10 in terms of share price valuation.

Next I move on to the DB license. It is like a car retrofitted with a few turbo engines, boosting and giving the existing AUA the multiplier effect. Hence, a linear analysis (as estimated by many analysts) fly in face of conventional or linear stock analysis or evaluation. How does one estimate the so-called “turbo” or “multiple” effect? I have no idea. Perhaps, the more enlightened can help me shed light on this. With DB license, the AUA target of $100 billion by 2030 could perhaps be achieved within a much shorter timeframe.

iFast has not even reached the real critical mass in all the current markets (including Singapore)where the profit margins are on par with big comparable giants. So there is still a long runway to go.

So far, I have not seen many technical analysts making easy money. If technical charts are so easily deciphered and traded upon, we should be seeing lots of millionaire chartists around. Just need to short Dows in March 2020 and made millionaires, and buy right at the bottom, and made another a few millionaires on the way up (hahahaha)…

Those who are not convinced of the investment case for iFast will never buy iFast, regardless of its share price. So don’t need to waste time talking to them. Even if iFast drops to $1, they will say “lets wait until it drops to 80 cents. When it is 80 cents, they will say – let’s wait for it to drop to 70 cents”….

We have barely finished eating the appetizer. Main Courses have yet to be served!!!
[I am not here to promote any stocks. Please always do your own research before embarking on any investment decision. I will not be liable for any of your own decisions. Your use of any information or materials is entirely at your own risk. It is your responsibility to ensure that any products, services or information meet your specific requirements. I do not produce material which meets the objectives of any specific financial and risk profile of investors.]
Reply
up to today, there are still many skeptics of Ifast's achievements and that it would be able to yet double its share price in the next few years ahead. $5 mark will not be far away (probably 2025), and $10 mark (by end 2030).

these are the upcoming catalysts:
a. DB license announcement (end of year)
b. Hong Kong MPF tender (end of year) - partnership with PCCW
c. Launch of the Shanghai Connect (connecting Shenzhen, HK with Shanghai Exchange)
d. commencement of RFO operation in China (coming very soon in October 2020)
e. private fund management license in China
f. Turnaround of the China segment (not talking about profit yet)

Each of the above catalysts has the potential to lift the share price by another BIG LEG (e.g. 20 to 40 cents).

Once China segment turns, it is going to be a new transformational phase for iFast. AUA for China segment is set to rapidly overtake all the aggregated AUA in all the other markets combined together.
[I am not here to promote any stocks. Please always do your own research before embarking on any investment decision. I will not be liable for any of your own decisions. Your use of any information or materials is entirely at your own risk. It is your responsibility to ensure that any products, services or information meet your specific requirements. I do not produce material which meets the objectives of any specific financial and risk profile of investors.]
Reply
up to today, there are still many skeptics of Ifast's achievements and that it would be able to yet double its share price in the next few years ahead. $5 mark will not be far away (probably 2025), and $10 mark (by end 2030).

these are the upcoming catalysts:
a. DB license announcement (end of year)
b. Hong Kong MPF tender (end of year) - partnership with PCCW
c. Launch of the Shanghai Connect (connecting Shenzhen, HK with Shanghai Exchange)
d. commencement of RFO operation in China (coming very soon in October 2020)
e. private fund management license in China
f. Turnaround of the China segment (not talking about profit yet)

Each of the above catalysts has the potential to lift the share price by another BIG LEG (e.g. 20 to 40 cents).

Once China segment turns, it is going to be a new transformational phase for iFast. AUA for China segment is set to rapidly overtake all the aggregated AUA in all the other markets combined together.
[I am not here to promote any stocks. Please always do your own research before embarking on any investment decision. I will not be liable for any of your own decisions. Your use of any information or materials is entirely at your own risk. It is your responsibility to ensure that any products, services or information meet your specific requirements. I do not produce material which meets the objectives of any specific financial and risk profile of investors.]
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