KKR Announces Formation of Global Wealth Investment Council
March 25 2024 - 7:00AM
Business Wire
KKR, a leading global investment firm, today announced the
launch of its Global Wealth Investment Council (“GWIC”). Comprised
of ten experts from leading wealth management firms around the
world, the GWIC is designed to serve as a forum for constructive
dialogue and knowledge exchange on the topics of macroeconomics,
capital markets, asset allocation and the role of private markets
in individual portfolios.
“We are thrilled to convene an esteemed and diverse group of
investment experts for this first-of-its-kind initiative,” said
Paula Campbell Roberts, Chief Investment Strategist for Global
Wealth at KKR and Chair of the GWIC. “We believe that through
collaboration and dialogue, we can develop actionable insights that
benefit not only our respective organizations but also the broader
investment community.”
“Open communication and exchange of ideas and insights are core
to our business and ability to serve the private wealth community,”
said Eric Mogelof, Partner and Head of Global Client Solutions at
KKR. “By bringing together these leading minds in wealth
management, we hope to create a resource that supports our industry
in bringing the benefits of alternatives to more investors.“
Members of the GWIC include:
- Sid Ahi, CFA – Co-CIO of Private Clients, Endowments and
Foundations, Brown Advisory
- Karim Cherif – Head of Alternatives, Chief Investment Office,
UBS Wealth Management International
- Jean Chia – Global Chief Investment Officer, Bank of
Singapore
- Jason Draho, PhD – Head of Asset Allocation Americas, UBS
Global Wealth Management
- Christopher “Kif” Hancock – Chief Investment Officer for
International, Brown Advisory
- Tomochika Kitaoka – Managing Director, Chief Strategist, Nomura
Securities Fiduciary Research and Consulting, CIO Management
Division
- Stephanie Link – Chief Investment Strategist and Portfolio
Manager, Hightower Advisors
- Lisa Shalett – Chief Investment Officer, Morgan Stanley Wealth
Management
To mark the launch of the GWIC, KKR surveyed its members on
their key macroeconomic views and thoughts on asset allocation. Key
takeaways included:
- Concerns about sticky inflation, and the potential slowdown in
consumer spending and job growth are top of mind for GWIC
members.
- The majority of the GWIC members believe that of the major
global economies North America is best positioned for economic
growth in 2024 and China is the most challenged.
- Most GWIC members believe that the economy will experience a
‘soft landing’ but views were more mixed on the timing of rate cuts
and the outlook for the U.S. dollar.
- Most GWIC members pointed to AI and transformative tech as the
most important theme to get right in 2024.
- From an asset allocation perspective, most of the members
believe that High-Net-Worth individuals are overweight to cash and
underweight to Alternatives this year. They also believe that
stock/bond correlations are likely to remain high in 2024, driving
the need to source diversification elsewhere.
- The majority of members believe that generating income is the
most popular goal of High-Net-Worth Investors in 2024.
About KKR
KKR is a leading global investment firm that offers alternative
asset management as well as capital markets and insurance
solutions. KKR aims to generate attractive investment returns by
following a patient and disciplined investment approach, employing
world-class people, and supporting growth in its portfolio
companies and communities. KKR sponsors investment funds that
invest in private equity, credit and real assets and has strategic
partners that manage hedge funds. KKR’s insurance subsidiaries
offer retirement, life and reinsurance products under the
management of Global Atlantic Financial Group. References to KKR’s
investments may include the activities of its sponsored funds and
insurance subsidiaries. For additional information about KKR &
Co. Inc. (NYSE: KKR), please visit KKR’s website at
www.kkr.com. For additional information about Global
Atlantic Financial Group, please visit Global Atlantic Financial
Group’s website at www.globalatlantic.com.
The views expressed in this release are the non-binding views of
the Global Wealth Investment Council (GWIC) and do not necessarily
reflect the views of KKR or of the strategies and products that KKR
manages or offers. Nothing contained herein constitutes investment,
legal, tax or other advice nor is it to be relied on in making an
investment decision or any other decision. This release is prepared
solely for information purposes, and it should not be viewed as a
current, past or future recommendation or a solicitation of an
offer to buy or sell any securities or to adopt any investment
strategy. This release contains forward-looking statements, which
are based on beliefs, assumptions and expectations that may change
as a result of many possible events or factors. If a change occurs,
actual results may vary materially from those expressed in the
forward-looking statements. All forward-looking statements speak
only as of the date such statements are made, and neither KKR nor
the GWIC assumes any duty to update such statements except as
required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240325357230/en/
Julia Kosygina 212-750-8300 media@kkr.com
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