Luxembourg
For its second conference on fine art as a new alternative
financial asset class, Deloitte joined forces with Maastricht University to
organise a new symposium on this captivating subject in London. The
purpose of this event was to focus on the impact of the financial
crisis on the enhanced recognition of fine art as an alternative
financial class, as well as the use of other new alternative asset
classes, such as wine, jewelry, photographs, musical instruments,
watches, stamps, coins, diamonds, ceramic artworks, which now acquire a
whole new appeal.
Several representatives of the academic world
as professors Rachel Campbell (Maastricht University Business School),
Mike Moses (NY University, Stern School of Business), Larry White (NY
University, Stern School of Business), Elroy Dimson (London Business
School) as well as internationally renowned experts from
Sotheby's Institute of Art, Art Capital Group, Hiscox, The Fine Art
Wealth Management Ltd, Fine Art Fund Group, Merit Group,
Artactic, Emotional Assets Research Management (EARM), Elite Advisers,
and Deloitte met to discuss the medium-term perspective of these new
alternative assets, also known as "Emotional Assets" or "Passion
Investments".
Philip Hoffman, Fine Art Fund Group's CEO,
believes that "the next
ten years will probably represent the best
period to invest in fine art". Bernard Duffy (EAMR) states
that
"emotional assets yield
stable performances with a weak and predictable
volatility". According to Miriam Mascherin and Philippe
Tamisier (Elite
Advisers) "fortune
managers are looking at these new classes of assets
with more and more interest because they are understandable, tangible,
weakly correlated and offer an increased diversification".
Friedrich
Kiradi from Photography Art Fund (Merit Group) declares that "they are
real, tangible assets which keep their value during times of crisis and
provide protection against inflation". Mike Moses reveals
that "he
firmly believes that fine art will become a basic asset class such as
real estate assets. He reminds us that Case Shiller Weiss has been
existing for only 20 years and he hopes that his research will keeping
playing an important role until his prediction will become true".
In
2008, Philip Hoffman's, Friedrich Kiradi's, Miriam Mascherin's, and
Michel Tamisier's investment funds have yielded in average 20%. With
such as perspective, Thierry Hoeltgen, Partner, Deloitte S.A.
Luxembourg, concluded by announcing that Deloitte is committed to
organise a third conference in 2010.
Find out more about the insights of the conference’s second edition:
Disclaimer: The research conducted in the academic reports show historical analysis and no liability can be taken for future prediction of financial returns. The attached power point presentations should not to be used for the basis of an investment decision and they do not necessarily reflect what the speaker spoke about. The views expressed in all documents should not be considered reflecting Deloitte's point of view.