Northwood Family Office

Northwood Family Office

April 03, 2012 09:05 ET

Northwood Family Office Joins Global Investment Group in Australia to Address Investment Strategy

Wigmore Association Evaluates Expansion of Membership, Global Investment Priorities and Developments in China and South East Asia

TORONTO, ONTARIO--(Marketwire - April 3, 2012) - Capitalizing on the continuing secular shift of global economic power from West to East was the dominant topic at the recently-concluded Wigmore Association Summit, a semiannual global collaboration of the chief investment officers of six family offices representing North America, Europe and Australia.

The group met over the course of three days in Melbourne, Australia with a cross-section of investment managers, influential policymakers, and economic analysts. Discussions focused on the changing macroeconomic drivers in the Pan-Asian region and how client investment portfolios can benefit from them.

Since the group last met in October of 2011, short-term allocations have moved to a slightly larger exposure to risk assets. At the same time, the long-term challenge of slower growth in developed markets has led some members to focus on direct investments as an alternative to the public markets. The continuing European debt crisis and the uncertainty it creates is still seen as a drag on the world economy.

"We believe that the shift in global economic power from the developed world to developing markets, particularly in Asia and South America, will continue and will have a significant impact on global investing," said Tom McCullough, Chairman and CEO of Northwood Family Office. "In fact, at the current pace, by the year 2030, two thirds of all middle class people in the world will come from China and India. As a result, the Wigmore members came to the conclusion that expanding the Association's membership to include family offices from Asia and South America would enhance the global dialogue we are looking for."

Wigmore Association was formed in 2010, consisting of Northwood and five other family offices from around the world, The Myer Family Company (Australia), HQ Trust GmbH (Germany), Pitcairn (US), Progeny 3 (US), and SandAire (UK). Its goal is to further each other's understanding of issues that are important to the families they serve. The Wigmore Association will next convene in September in Toronto, Canada.

Northwood Family Office, headquartered in Toronto, is Canada's leading multi-family office. Northwood client families typically have $10 million or more in investable assets. For more information on Northwood, visit: www.northwoodfamilyoffice.com.

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