Here I write, relaxing to the sweet drones of a distant cellist from our rustic shack on the Playa Las Lajas having spent the past couple of months trying – and it appears failing – to establish SHAM’s new offices.
I say fail because we’re evidently not very high on the priority list for our local legal partners, whom it must be said have been very rudely ignoring my calls this week.
Yes, SHAM doesn’t quite yet boast the sizeable assets of certain clientele ahead of us in the queue, but I assure you, dear reader, that we’re just one big ticket investment away from, well, big money.
I fancied a bit of glitz and glamour, you see, and the Americas are where it’s at for any wealth manager with high ambitions and to hang out with the rich and famous – and let me tell you, there are a lot of them about.
Yes, all the dignitaries are here on their holidays this year. SHAM once again must be ahead of the curve in picking the best places, just as we are in picking the right investments.
It really is paradise here, though of course that doesn’t mean I’ve had my eye off the markets. With clear views here of both North and South America, it’s of note that Brazil’s Bovespa made something of a comeback in March and is up 28% for the year, compared to 5% from the S&P 500.
A renaissance in resources could cause a few headaches for wealth managers in the coming months, though many of the stockpickers I speak with continue to have limited exposure to Latin America in particular.
That said, SHAM’s long-term GEM choice, Stewart Investors Global Emerging Market Leaders has around 16% invested across the Americas, though that includes a sizeable holding in Brazil’s Banco Bradesco.
Anyway, the weather’s been grand and the locals very accommodating. The beach is lovely of course, despite a lingering fishy smell… which reminds me, I really must get back to my new Icelandic friend about re-arranging our beach football game with the guys from FIFA.
Anyway, it’s already April so I best let you get back to administering last minute ISA applications. I don’t envy you on that – tax is the last thing on the minds of people in Panama!
Adiós amigos,
SHAM
SHAM is the continuing adventures of a financial journalist and his meagre ISA. Follow at @SHAMinvestor
