The last year has been ‘very, very busy’, says EFG Asset Management portfolio manager Michalis Rikos, pointing to their AUM for evidence which has grown substantially in the past 12 months and now stands at £3bn. He’s not complaining though, but rather relishing the client contact in particular, which sees him working with ‘in my view the best investors and most successful entrepreneurs in the world every day’.
The asset management arm of Swiss bank EFG International , EFGAM comprises nine Portfolio Managers, of whom Rikos has been one for seven years now, who serve 1350 clients, providing them with access to 25 analysts covering fixed income, direct equities, funds and hedge funds.
Clients tend to be more global as EFGAM operate from a number of bases around the world, although their sterling base makes up over 50 per cent of the assets under management. High net worth private clients are the core of the client base while they also look after foundations, trusts, charities and small institutions.
On the advisory side, Rikos looks after a broad range of HNWIs, most of whom are after an interactive relationship with the Portfolio Manager and who like to be consulted on investment decisions, although not exclusively: ‘clients may give us a mandate on stock selection and move over to discretionary once they’ve experienced the service,’ he explains.
Luckily, EFGAM are on hand to provide whatever service suits you best. They offer 12 mainstream strategies for amounts in excess of 1m across GBP, USD and EUR, while other currencies can be accessed on demand, and strategies range from mainstream conservative, balanced, growth to capital preservation cash plus based approaches. They also run specialist satellite strategies investing purely in equity growth or income, or in certain fixed income strategies from corporate and emerging market debt to high yield.
‘We have historically offered tailor-made solutions, which are hard to find elsewhere,’ Rikos explains. ‘We want to be close to our clients and their needs. We use in-house high quality research and maintain open architecture.’ And because they operate an open architecture model, clients can access the best possible vehicles from around the world to capitalise on each investment opportunity.
Across the board, he adds, wealth preservation is the clients’ main priority and many are risk averse.
Greek-born Rikos acquired an MSc in accounting and finance from the Athens University of Economics and Business, going straight into finance after graduation; subsequently he became a CFA Charterholder His main client geographical focus at EFG is on Mediterranean countries, the Middle East and the UK.