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UBS is pleased to be the Founding Partner of #TOGETHERBAND, initiated by sustainable accessories brand BOTTLETOP, which aims to engage hundreds of thousands of people across the world in partnership with the United Nations Foundation, World Wildlife Fund, Project Everyone, Eco Age and Global Citizen.

BOTTLETOP and UBS jointly launched the #TOGETHERBAND campaign on April 22, World Earth Day, setting out to engage the world with the 17 United Nations (UN) Sustainable Development Goals (SDGs). The campaign will use creativity and culture to raise public awareness and inspire action to achieve the Goals through sustainable fashion, contemporary art, music and documentary film. A group of high-profile ambassadors has been appointed to promote the campaign, including Doutzen Kroes and Michelle Yeoh.

The SDGs were devised by the UN in 2015, and ratified by 193 nations around the globe, as a universal call to action to end poverty, protect the planet and ensure that all people enjoy peace and prosperity by 2030. The 17-month #TOGETHERBAND campaign counts down, month by month, with each Goal to the UN General Assembly in September 2020.

At the heart of the #TOGETHERBAND campaign are 17 sustainably and ethically produced friendship bands in the colors of the SDGs, made from up-cycled ocean plastic and Humanium, re-cycled steel created from seized illegal firearms. The production of the bands is generating skills and livelihoods for women working as artisans in Nepal. Each purchase comes with two bands, one to wear and one to share, including on social media, helping spread the critical message of the SDGs.

Michael Clarke, Head of Private Clients at UBS Wealth Management, Jersey says: “I am really proud of UBS’s involvement in this important project. Sustainability is a priority for our clients and for us. As the leading global wealth manager, UBS already contributes to setting the standards and collaborates in and beyond our industry.”

LV Care Group has been selected as the preferred bidder to take on the operation of the Jeanne Jugan Residence, currently run by Little Sisters of the Poor, the charity dedicated to providing nursing care worldwide to the elderly and those in need.

One of the principal factors in choosing the preferred bidder was their commitment to honour the existing contracts for residents and staff.  LV will continue the ethos of the Little Sisters by working with the community and religious groups in certain aspects of the operation of the Jeanne Jugan Residence, including facilitating the management of the on-site chapel with the resident priest.

LV is a locally-based care group, which currently runs Lavender Villa Residential, Cheval Roc Residential & Nursing and Rosemary Cottage Specialist Residential Homes. LV also operate an extensive home care and mental health service in Jersey. It will assume responsibility for Jeanne Jugan later this year subject to the agreement of contracts and regulatory requirements being met.

LV will now carry out a period of due diligence and will work with the Sisters to communicate with staff, the residents and their families to ensure that any concerns are addressed. It is expected that it will assume day-to-day running of the residential home in the first half of 2019 with the Little Sisters of the Poor continuing to provide care until the deal is formally completed.

Sister Caroline Emmanuel, Mother Superior Provincial, says:

‘The decision to leave was a very difficult one but we are confident that LV is the best provider to run the home. The security and wellbeing of our staff and residents were our main priorities in selecting a preferred bidder, and we’re pleased that they will continue to be supported and that the ethos of the Little Sisters of the Poor will continue to be part of the home.’

Nick Bettany, director at LV Care Group, says:

‘The Little Sisters of the Poor have provided care in Jersey for more than 130 years but took the difficult decision to withdraw from the island last year. We are delighted to have been selected as the preferred bidder for the Jeanne Jugan Residence and we look forward to continuing the excellent work of the Little Sisters on the island.’

D2 Real Estate and UK business property adviser, Christie & Co, managed the marketing of the care home.  Legal aspects of the sale were handled by Bedell Cristin’s Nancy Chien, Partner, Jeff O’Boyle, Head of Property and Guy Westmacott, Partner.

The 2019 UBS Forum, held at the Royal Yacht Hotel on the 29^thJanuary, saw economists and investment specialists from UBS and a guest speaker from Chatham House present to over 100 private investors. The audience were shown a comprehensive view of the past year’s economic performance, analysis of the current global state of affairs and recommendations for negotiating the coming year.

Tom Hill, Group Country Head, UBS Wealth Management in Jersey opened this year’s Forum and the event was moderated by Michael Clarke, Head of Private Clients at UBS Wealth Management in Jersey. The four speakers, Dean Turner, Caroline Simmons and James Mulford from UBS and Thomas Raines from Chatham House, then presented key analysis where the subject of volatility was high on the agenda.

Economist Dean Turner, from the UK Investment Office at UBS Wealth Management, told investors that 2018 was the 9th consecutive year of growth for the global economy. However, the essence of his presentation was to highlight that a turning point has potentially been reached, with growth slowing and the expectation that this deceleration will continue in 2019. Dean confirmed that we are now in a mature phase of the economic growth cycle, but a recession in 2019 is extremely unlikely. The volatile political environment hasn’t previously impacted overall market conditions, but there are signs that these have the potential to evolve into economic challenges with examples such as the US/China trade dispute and the effects of the Italian government policies on bond markets being discussed. However, Dean was quick to highlight that not all political risk presents a downside.

‘Despite all of the volatility we have had in emerging markets, from an economic perspective, predicted growth expectations were largely met, in spite of the head winds of high US interest rates and a much stronger US dollar than expected. In 2019, economic growth is set to slow across all of the major economic blocks, compared to 2017/18 which saw the fastest rates of economic growth for the global economy since the start of the decade. Economic growth has provided a tail wind for the markets over the last couple of years and as it slows it may lead some investors to question if the end of the economic cycle is approaching.’

Dean finished with a reflection on the UK and the issue of Brexit:

‘There is a challenging few months ahead. Nobody knows how or when this is going to end, and delays and uncertainty do have an impact on the UK economy, so we really do need some clarity before the UK can move forward. However, as important as this is to us, it is worth remembering that the UK is 3% of the global economy and whatever the outcome of the final Brexit agreement it is not enough to derail the global economy.’

Deputy Head of UBS Investment Office UK, Caroline Simmons, then presented a view on how investors might best navigate this economic period. Caroline delivered the message that whilst market volatility is unlikely to go away, it is too early to sell equities as historically they have performed well in the late cycle. The current political uncertainty means that investors may wish to diversify globally and be selective.

Thomas Raines, Head of the Europe Programme at Chatham House gave an insightful overview of the current political volatility. Thomas highlighted the global trend towards populist governments being elected, with the likelihood of populism and protectionism staying on the radar throughout 2019. Thomas raised the point that political volatility is not a new concept but has trended upwards since the 1970’s, along with the decline of party identification and voters being less loyal. With regards to Brexit, Thomas shared the following:

‘There appears to be a post-Brexit bounce in support for EU membership. Some supporters of Brexit had a theory that the UK leaving might lead other countries to follow suit, but it appears that the opposite is happening to public attitudes. There has been a rise in support for the EU, illustrating either that Brexit has made people value membership more than before, or they have seen how difficult it is to leave!’

Thefinal speaker of the afternoon, James Mulford, Head of UBS Global Mandates & Investment Content (UK & Jersey), delivered a presentation confirming that market volatility had made a comeback in 2018. Despite this, UBS has continued to outperform peers. The 3L’s concept was discussed as being the recommended model to implement that could help prepare for volatility.

Liquidity – to help maintain your lifestyle (cash, fixed income)

Longevity – to help improve your lifestyle (classic diversified portfolio)

Legacy – to help improve the lives of others (capital growth with high risk)

Throughout the UBS Forum, the audience of private investors and intermediaries were invited to answer a series of questions. 58% of the audience said they do not want the UK to leave the EU in 2019, but 49% believed that the greatest risk to the global economy in 2019 is the US/China trade dispute compared to only 4% for Brexit. 66% of the audience felt that there is room for populism to continue to grow. The continued concerns about political and economic volatility are obviously having an impact. When asked if they felt confident about economic growth in Jersey, 48% said Yes, with 32% saying No and 20% being unsure.*

All speakers responded to questions from the audience with the topic of US politics and the US/China trade dispute being of particular interest.

Hettich Jewellers will be hosting the 2018 Patek Philippe Exhibition Collection in Jersey for the first time next month. The showcase will feature close to 100 ladies and men’s watches from the prestigious Geneva based brand, including a selection of new watches revealed at Baselworld this year.

The exhibition will be launched in Jersey at a private event hosted by UBS Wealth Management Jersey at The Atlantic Hotel on 8^th November 2018. Hettich, in collaboration with UBS Wealth Management Jersey, are offering guests a rare opportunity to admire first-hand the extensive range of Patek Philippe timepieces.

The collection will later be showcased at Hettich on Friday 9^th and Saturday 10^th November 2018. Collectors, watch aficionados and those beginning to discover the world of horology are invited to try on the watches, speak to in-house specialists and discover the unique history behind each individual design.

The new collection includes complicated timepieces, models from all regular collections including the Calatrava, Aquanaut, Nautilus, Golden Ellipse and Twenty-4, as well as a selection of brand new watches.

The new models include the Ref. 5205G-013, a men’s white gold Annual Calendar watch with a two-tone sunburst dial featuring a subtle black graduation to the circumference. The sleek, contemporary style is underscored by the new three-facetted Dauphine hands, filled with luminescence in the centre facet.

Another exciting release is the Ref. 5524R-001, a new rose gold version of the Calatrava Pilot Travel Time, with a graduated brown dial, sculpted luminous coated numerals and an orange ‘1’ of the analog date on the subsidiary dial at six o’clock. The watch has also been released as a ladies model, the Ref. 7234R-001; the first automatically wound Pilot’s watch in the ladies collection.

Further enriching Patek Philippe’s collection of complicated ladies’ watches is the Ref. 7150/250R-001, a rose gold chronograph with a bezel adorned with 72 diamonds. Both the manually wound movement and the silvery opaline dial, can be seen clearly through the sapphire-crystal ‘box’ glass, used for the first time on both the front and back of a Patek Philippe watch in the current collection.

Mark Hearn, Managing Director for Patek Philippe UK, says:

‘We are delighted that Hettich will host the Patek Philippe Exhibition Collection this November. It is a rare chance for clients to view and experience the collection in their showroom and at an exclusive evening. For us, it is a real privilege to have Hettich as one of our authorised retailers as they have the commitment to give their clients the ultimate experience when they are buying a Patek Philippe timepiece.’

Jeffrey Chinn, Managing Director, Hettich, says:

‘Our partnership with Patek Philippe extends over 50 years and as a private, family business we celebrate the traditional values that have served us so well. We are delighted to present the 2018 Patek Philippe collection at Hettich and look forward to welcoming all ‘Patek Lovers’ during the exhibition.’

Michael Clarke, Head of Private Clients, UBS Wealth Management Jersey, says:

‘There is a real synergy between UBS and that of Hettich and Patek Philippe as we all stand for exemplary customer service and absolute excellence in everything that we do. We are thrilled to be able to support Hettich in bringing over this exhibition and offer people in Jersey a rare chance to see these quality timepieces.’

The Oxygen Therapy Centre will be able to help three times more clients in Jersey with a new facility in the Island. The charity has set its sights on a new centre which they would like to open in 2019, but they need assistance from local businesses and the philanthropic community to realise their plans.

The Oxygen Therapy Centre provides support and rehabilitation to people living with MS, Fibromyalgia, other neurological conditions, cancer and sports injuries to name a few. They assist a growing number of clients in the Island, aged from three weeks up to 93 years old, through their oxygen chamber and complimentary therapies.

They have secured new premises on Trinity Hill with complementary legal assistance from Bedell Cristin and have been fund raising for the new Oxygen Chamber thanks to donations from the Association of Jersey Charities and the CI Lottery Fund. However, they need to raise a further £200k to complete the refurbishment of the centre to ensure it is accessible for all who will benefit from it.

The new double oxygen chamber will allow the charity to treat 12 people at a time, significantly increasing their current capacity of four. The charity has seen demand for their services rise dramatically over the past few years as Oxygen Therapy becomes more widely understood and used in treatment, in particular for cancer patients. In 2016, the Oxygen Therapy Centre completed 365 sessions, in 2017 491 sessions, and they are already at 610 sessions for 2018 to date. The new chamber will be the only low-pressure oxygen chamber in the Channel Islands and a very positive addition to Jersey with only a handful available across the UK.

The charity currently helps to treat over 40 different conditions for 72 clients. However, statistics for the Island show that they could be assisting a lot more with 250 islanders living with MS, more than 4,000 with Fibromyalgia, Chronic Fatigue and ME, and 900 with cancer. According to the States of Jersey Disability Strategy, there are almost 14,000 disabled islanders*, and a large number of them would be able to benefit from the Oxygen Therapy Centre.

Tori Ducker, Development and Operations Manager at the Oxygen Therapy Centre, says:

‘We are thrilled to announce plans for the new facility that will enable us to reach out and help so many more Islanders. We have seen such amazing results for our clients who suffer from a range of conditions from cancer to sports injuries and the demand for our services has almost doubled in the last two years. We know we have a lot of money to raise for the new facility and we would be so grateful if people would come forward to help us.’

To offer assistance to the Oxygen Therapy Centre please call Tori on (0)1534 737297 or email [email protected] or donate online www.oxygen.org.je

More than 1500 students in Jersey will benefit from KPMG global cyber workshops over the next six weeks. The learning sessions, aimed at 11-16 year olds, will provide students and their parents with vital tools to stay safe and secure online.

The sessions are part of KPMG’s global corporate citizenship strategy and KPMG firms in over 32 countries are taking part to highlight Cyber Security Awareness Month. Seven secondary schools in Jersey will benefit – VCJ, JCG, Haute Vallée, Le Quennevais, De La Salle College, Grainville, and Beaulieu.

The sessions will focus on safe online shopping, phishing and spamming, social media, fake apps and downloads, spyware, adware and dictionary attacks. Students will learn how to spot fake websites and identify when cyber criminals are pretending to be official organisations in order to obtain personal information (phishing). Discussions on the threats of social media will give the students insight into privacy settings and the importance of using two factor authentication.

The school sessions will be delivered by KPMG’s Jersey digital team and, in particular, the young digital apprentices who are currently employed by and training with KPMG whilst studying for digital degrees at Exeter University. They will also give students insight into working in the digital sector in the future.

Robert Kirkby, Head of Digital, KPMG in the Channel Islands, says:

‘We know that cyber security awareness is more critical now than ever before for all, but it is particularly so for young people who are arguably the most trusting and therefore, the most vulnerable. Our aim is to raise awareness of cyber security threats, promote cyber security and provide resources to protect our young people online.

‘This is a global initiative for KPMG and we are very proud to be a part of it and reaching out to so many of our students in Jersey. We are aiming at the secondary schools where the problems are most acute. We will also be handing out tip’s sheets for parents to help them understand the current threats and give them advice on how to tackle them. We are looking forward to going into all the schools and also introducing them to our digital apprentices who are our future leaders in cyber security and digital innovation.’

The UBS Financial Intermediaries (FIM) team in Jersey has appointed three new staff, including an additional Client Advisor, to assist with the growth of its External Asset Manager (EAM) business.

The FIM team in Jersey provides custody, stock execution, lending and banking services to EAMs and their underlying clients in both the UK and the Channel Islands.

The business is proud to welcome Jean-Paul Coutanche and Emma Gouyette as Client Advisors and Charlotte Hervé as a Client Advisor Assistant.

New Client Advisor, Jean-Paul Coutanche, has over 14 years’ experience in the finance industry, with seven years as a Product Analyst. His most recent position was with a wealth management business looking after HNW and UHNW clients. He is a Chartered Member of the Chartered Institute for Securities & Investment, having passed the CISI Private Client Investment Advice Certificate, a level 6 qualification, in 2017.

Emma Gouyette is a Chartered Fellow of the Chartered Institute for Securities Investment, with 20 years’ experience in financial services. Her role as Client Advisor represents an additional position within the FIM team and reflects the growth of the teams’ EAM business. Miss Gouyette has vast experience of wealth management, investments, onboarding and compliance. She is proficient in managing relationships with both high profile clients and intermediaries. She has attained the CISI Private Client Investment Advice Certificate and holds an International Compliance Association Certificate in Compliance.

Mr Coutanche and Miss Gouyette’s experience in delivering exemplary service to financial intermediaries and their end clients aligns perfectly with the ethos of the FIM team.

Charlotte Hervé has been appointed as a Client Advisor Assistant. Mrs Hervé attained her Institute of Chartered Secretaries and Administrators Certificate in Offshore Finance and Administration in 2006 and her International Compliance Association Certificate in Compliance from the Jersey International Business School in 2016. She is currently studying towards the CISI Investment Advice Diploma, a Level 4 qualification. For the past six years, she has been working for UBS as an Account On-Boarding Specialist. In her new role, she will support the Client Advisors and business development team onboard new clients and assist with the administration of both new and existing clients.

Helen Ollivro, Head of UBS Financial Intermediaries, Jersey, commented:

‘We are a truly global firm with a team of highly motivated employees who put the EAMs and their underlying clients at the heart of everything we do. We hire talented people, enhance their skills, and empower them to use these skills to help build our relationships. We are excited to welcome Jean-Paul, Emma and Charlotte to our team. We are confident that they will help us continue to deliver an unrivalled client experience to our EAMs and their underlying clients.

I am very pleased to have expanded the team and created a new Client Advisor role this year. The addition is testament to our ability to align ourselves with EAMs and assist them grow their businesses. We have operated a dedicated EAM desk for over ten years and the highly experienced team we have assembled is pivotal to the long term relationships we have forged with our EAMs. Our business continues to evolve and grow and we are proud to offer exciting and challenging opportunities to our new joiners.’

ZEDRA Jersey has launched the ZEDRA Fiduciary Investment Fund. The Fund addresses a gap in the market for an investment solution built for trustees. The structure is highly innovative and offers reduced asset manager risk and reduced portfolio volatility.

The Fund is suitable for trustees wanting to ensure that trust assets are invested in a safe and secure fashion and benefit from best of breed investment management. The fund is an open-ended fund based in Jersey.

The innovative structure and design of the ZEDRA Fiduciary Investment Fund is the attraction for those charged with ensuring trust assets are invested in the most appropriate manner, with a focus on reducing manager risk and lowering costs. There are currently two sub-funds, both with a medium risk strategy with one aimed at total return investors and the other more considerate of generating a stable income flow, currently targeting a yield in excess of 3%. The sub-fund assets are managed by some of the best investment management houses in the marketplace, with each being appointed to meet the specific investment objective of the sub-fund.

Unlike other multi-manager funds, ZEDRA are not making any investment decisions or asset allocation calls; however, clients will profit from their manager selection expertise. Investors will benefit from a diversification of the management process and style as well as a diversified underlying portfolio. In addition, when appropriate, assets can be switched between managers within the ZEDRA Fiduciary Investment Fund, minimising transition costs. In some jurisdictions this may also be beneficial from a capital gains tax perspective.

Against a backdrop of regulatory and market pressures increasingly weighing on Jersey’s finance industry, the funds sector has continued to grow and attract new business helping the Island to maintain its reputation as a leading international finance centre. The new ZEDRA fund is more good news for Jersey and a sign of ZEDRA’s confidence in the jurisdiction.

Mike Farley, Managing Director of ZEDRA Fiduciary Investment Services, says:

‘The launch of the Fund is great news for ZEDRA and also for Jersey. We developed the Fund because we saw the need for an investment solution built for trustees, which isn’t constrained to one investment manager’s process where you are tied to a specific strategy and style.

‘If a trustee has £50 million to invest, you can allocate your financial assets between two or three different investment managers, to reduce manager risk, and still have sufficient assets with each manager to be able to negotiate competitive costs at the manager level. However, this is not so easy if your trust fund has £3 million or less to invest. This is where our new Fiduciary Investment Fund comes in: it allows trustees to reduce active manager risk and, in turn, portfolio volatility, but also benefits from lower ongoing management charges as the collective assets of the Fund are significant.

‘As ZEDRA is not making any active investment decisions, we have been able to price the Fund very competitively for our clients. History shows that minimising costs feeds directly through to performance and compounds into higher net returns.’

The ZEDRA Fiduciary Investment Fund is currently only available to clients of the ZEDRA Group and, more specifically, Sterling investors. However, Andy Cunningham, Director of ZEDRA Fund Services, added:

‘We have already seen a lot of interest in this innovative approach to managing fiduciary assets and anticipate launching a US Dollar version and also opening the fund to other service providers in due course. The appointment of individual investment managers today is becoming more and more expensive for trustees and can often be a reason why a trustee will stay with an underperforming manager rather than switch elsewhere – clearly not always the right solution for the trust and its beneficiaries. The ZEDRA Fiduciary Investment Fund overcomes this dilemma.’

The Fund was launched on 1^st August and has assets in excess of £250m. ZEDRA were advised by Martin Paul of Bedell Cristin. The ZEDRA Fiduciary Investment Fund Limited, ZEDRA Fund Services Limited and ZEDRA Fiduciary Investment Services Limited are regulated by the Jersey Financial Service Commission.