Over the five and a bit years MASECO has been established, our growth has surprised even the most optimistic amongst us. The business has grown thanks to the loyalty of our clients and the close contacts we enjoy with the intermediary network in our US and UK niche.
Getting rational and staying rational
When I was asked to write my first blog for MASECO, I considered all the topics central to the company. I started by reading through previous blogs, but realized quickly that those topics have already been well covered. Instead, I decided to write an ‘open diary’ about my experiences here to date, to hopefully provide some useful insight into MASECO.
In this first blog, I’d like to share my experience of adapting from a traditional asset management approach, to MASECO’s evidence-based approach.
Current clients of MASECO (and those clients who were with us when we were at Citigroup) will by now know that one of our longest held positions is the Templeton Global Bond fund managed by Michael Hasenstab. The fund is one of the ‘active’ investments we make because we dislike the composition of the benchmark that is the alternative way of getting exposure to ‘foreign’ bonds. As we discuss in our Investment Philosophy meetings and from time to time in our blogs, we dislike the global bond indices which are market weighted and thus own bonds in the most heavily indebted countries in the world.
On Wednesday 27th November we sponsored the inaugural American Citizens Abroad (ACA) Town Hall evening at the Royal Over-Seas League Club in St James’s. Founded in 1978 the ACA is a non-partisan volunteer association whose mission is to defend the rights of Americans living overseas. The evening was well attended with around a hundred participants and an expert panel. Coleen Graffy, a former diplomat within the State Department chaired the event and
Last night, MASECO celebrated its fifth birthday in style at the prestigious Naval & Military Club (also known as the In & Out) in London’s Mayfair. We shared a very enjoyable evening with many of our clients, associates, friends and family, a sizzling barbecue and a contemporary jazz band.
As advocates of passive investing, MASECO takes a lot of flak from an industry predicated on selling false promises to investors. Many times, our competition has claims of being able to time markets or have superior insight into selecting equity investments which will greatly outperform the market. While there is certainly no dearth of academic literature on the ability to time to equity markets (or lack there of), that doesn’t mean it isn’t worth trying.
Today is our 4th birthday and we are celebrating in style! We’d like to extend a HUGE THANK YOU to all our clients and contacts for their support over the past four years and look forward to working with you for many more years to come.
MASECO Private Wealth, the London-based wealth manager that advises US nationals living in the UK, is delighted to announce the appointment of Maria Chapman as Head of Business Development. Before joining MASECO, Maria was Head of Private Banking Relationships with currency management firm The ECU Group plc (“ECU”), for 13 years and was responsible for developing and maintaining the company’s currency lending and asset management