MICHAEL MAGNAY

KLEINWORT HAMBROS

Category
HNW Wealth Managers
Company Size
International

Michael Magnay has a mantra for this turbulent market: ‘Volatility comes and goes, corporations wax and wane, crises rear their ugly heads, but if one constructs prudently managed portfolios all storms can be weathered.’ The executive director of Kleinwort Hambros’s private investment office notes his UK client base is changing its enthusiasm: ‘The love affair with London property is beginning to wane. I’m not sure whether this has been driven by changes in tax legislation in the UK or concerns over Brexit, or a combination, but it is leading clients to focus on alternative “safe haven” investments.’ Classic cars have been the ‘real winners’ as clients are able to access the market at ‘lower ticket levels’.

Michael Magnay