Abstract
The fourth chapter presents the concept of Wealth Management services and characterizes the areas of the investment process WM. They have a significant impact on the development of an appropriate customer base and determine the success of these services among investors. In addition, the categories of entities operating in the alternative investment market are described. This chapter also presents a forecast of the growth in wealth of individual investors in the next few years as estimated by the EIU’s Business Environment Rankings. These investors will generate demand for alternative investments. Furthermore, selected studies on risk, wealth and the attractiveness of the alternative investment sector in the world are presented. This chapter also examines the statistics that confirm the attractiveness of Central and Eastern European Countries, including Poland primarily, for the development of services for the wealthiest clients.
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Notes
- 1.
Art. 1 (58) (a) of the Act of 27 August 2003 on a change to the act and the organization and operation of pension funds and to certain other acts, Journal of Laws No. 170, item. 1651.
- 2.
Government order from 2 February 2004 on the determination of the maximum portion of the assets of a pension fund that can be invested in different investment categories, and additional restrictions on the conduct of investment activities of pension funds, Journal of Laws No. 229, item. 2286.
- 3.
Investment funds operating in Poland under the Act of 27 May 2004 on investment funds, Journal of Laws from 2004 No. 146, item. 1546.
- 4.
A theory formulated in the field of microeconomics that uses mathematical tools to describe the behaviour of individual consumers in the market and explain the operation of the market mechanism in the distribution of goods and pricing.
- 5.
Expected utility hypothesis is a hypothesis in economic theory concerning the conduct of persons in conditions of risk. According to this hypothesis individuals have, or behave as if they had, a utility function U (•) defined on a set of certain alternatives S and in the face of risk. If they must choose a random event with its results from this set, they do so in such a way as to maximize the expected value of the utility function U (•).
- 6.
This report was prepared by Barclays Wealth in co-operation with the Economist Intelligence Unit. It is based on three main strands of research: a global survey of around 790 mass-affluent (with at least 100,000 USD in investable assets), high net worth (with at least 1 million USD in investable assets) and ultra-high-net worth individuals (with in excess of 3 million USD in investable assets); a series of in-depth interviews with experts on wealth and family; and a number of case studies. The 790 survey respondents were recruited from EIU databases of individuals around the world. The survey was undertaken between January and September 2007 by the EIU.
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Sokołowska, E. (2014). The Role and Nature of Alternative Investments in Wealth Management. In: Alternative Investments in Wealth Management. Springer, Cham. https://doi.org/10.1007/978-3-319-08075-8_4
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