If “some of the world’s wealthiest people” are to be considered as members of the so-called, ‘global elite’, that President Trump so often rails against, then the Trump message of ‘taking back control’ from those global elites, seems to have hilariously reached those ‘global elites’ and their advisers, themselves! lol
It’s a game that two can play, in a narcissistic festival of politicised insularity, while ignoring the worlds beyond.
Dreams of cybernetic leadership; the imagined nations of sovereignty; the imaginary of sovereign nations? Figurations of responsibility; the gaming of thrones; the elevation of comfortably seated, numbness of decision, imagining domination of Pandora-inflected determination.
“Welcome to The Wealth Report
In last year’s “Welcome”, I commented that the world appeared to be at a crossroads. Fast forward 12 months, and we are still waiting for strong global leadership to determine the direction of travel.
The range of events creating political turmoil is more diverse than ever: high-stakes verbal sparring between North Korea and the US; the EU’s need to help Spain navigate the Catalonian crisis and balance the growing East-West schism over migration; food security concerns; and ongoing unrest in the Middle East, to mention but a few.
Set against this backdrop, the health of the global economy surprised many in 2017 – and is likely to continue to provide more good news this year. Yet despite positive economic fundamentals underpinning many of our markets, reading through this edition of The Wealth Report, many articles – in particular our interview with eminent historian Niall Ferguson – confirm that it is the political risks that have the potential to cause upset, making the future ever harder to predict.
As an adviser to some of the world’s wealthiest people, life at Knight Frank is fast-paced and exceptionally interesting. Providing the best advice during constantly changing times is challenging. But by employing the best people, continuously enhancing our research capabilities and extending our global network, we aim to react quickly to events, ensuring our advice enables our clients to constantly recalibrate their investment strategies.
The desire to “take back control” is an increasingly important part of these strategies. Many of you are taking a more hands-on role when it comes to your investments, employing in part your own expertise, forming syndicates and building relationships with carefully selected trusted advisers who can offer bespoke advice on specific sectors. The growing influence of family offices as real-estate investors, described on page 53, is a clear example of this.
As ever, Knight Frank is listening and evolving to meet the needs of our clients. Our Family Office Forum brings like-minded private investors together, while a dedicated 26-strong high-net-worth focused team provides our most global clients with a single point of contact for all their property needs in the key markets worldwide.
I am confident that this year’s edition of The Wealth Report will both guide and reassure you. In addition to exploring the movement of wealth around the world and the f luctuations of the world’s luxury residential property markets, this year’s report offers some fascinating insights into luxury spending trends, be it investing in a record-breaking piece of art or, as in the case of one particular client, your own sports team.
It is likely that many of the articles will prompt further questions. Please do get in touch if you would like further information from our research team or guidance on your property portfolio. We are here to help you, and look forward to working with you in 2018.” [LORD ANDREW HAY, GLOBAL HEAD OF RESIDENTIAL]