EXCLUSIVE: Personalised Service In WM Here To Stay, Despite AI – Mirabaud

Amanda Cheesley

8 June 2023

Paul Whelan at too. People go to higher quality, more robust institutions. Nevertheless, some smaller US banks could be affected by it whilst European banks appear to be more protected,” he said. “Long-term, there could be a more regulatory focus about how this happened,” he said. Whelan is cautiously optimistic about the outlook for emerging markets on a long-term basis.

“India and China, in particular, are continuing to do incredibly well but the stock prices aren’t keeping track,” he said.

“Gold and precious metals rely on emerging markets, for instance, which we put in our portfolio. Demand is continuing to soar and we expect those asset classes to do quite well. However, governance is still a concern which is why, in my view, we haven’t seen stock markets rise as they should have done,” he continued. “Japan is meanwhile one of the most under researched markets but there should be some gems to be had there."

“We are positive about Europe long-term but again there is a question mark around Ukraine as Germany has been hit hugely by that. Volkswagen’s share price, for example, has been massively hit. It will be interesting to see how the European Central Bank raises rates and how that plays out,” he added.

“There are also some question marks around the UK due to the Brexit impact on trading. The UK stock market has done well in the last couple of years, mainly due its mining and oil companies which have done pretty well but there are question marks on trading rules. When there are question marks, investors will go elsewhere,” he said.

“We are globally diversified, and we are optimistic about the US outlook,” he added. “We think technology will do well as it’s a growth sector and that’s where you get true innovation. Going forward, businesses like mining will continue to do well due to electrification, for instance,” Whelan concluded.