I found this headline from the FT somewhat astounding
It opens with
- "The real value of UK private wealth portfolios has fallen by as much as one-third on average in the first nine months of this year ..."
I haven't done an exact calculation, but a back of the postage stamp one would suggest absolute losses of around 25% and the rest down to inflation. Compare this to (say) the average self-directed private investor, e.g. on II, who quote such figures, of about 12%. I suppose it's better than the average US retail investor who, if the JP Morgan data cited earlier is to be believed, were down around 44% over the same period.
I wonder though, what the typical so-called private wealth manager has been investing in to generate this level of negative return? I wonder if there may be an element of private equity being marked to (lower) market in a rising interest rate environment?
Regards, Newroad