Sixties icons
Forget flower power – the 1960s were about ­Keynesian economics, the dash for growth and the white heat of technology. Sound familiar? Fifty years later, we have quantitative easing, near-zero ­interest rates and the iPhone. So it seems apt that Bonhams, the auctio­neer, is selling off David Bailey prints from the 1960s. The photographer has chosen 60 of his own prints of “icons” of the decade, including John Lennon and Paul McCartney, Andy Warhol, Rudolf Nureyev and Mick Jagger.

The exhibition, Pure Sixties, Pure Bailey, is on at Bonhams’ London office on New Bond Street until April 7. Prints range from £10,000 to £75,000.

Wealthy women
The stereotype that all multimillionaires are middle-aged men is under threat. Women are joining the ranks of the super-rich in ever-increasing numbers – and they make more diverse investment decisions.

The UK now has 72,000 female multi-millionaires – up 40 per cent from 2004, according to Tulip Financial Research.

Multimillionaires, with at least £3m ($4.5m) of liquid assets, are, on average, 65. Most are men in the south of England.

There are slightly more than 300,000 multimillionaires in the UK. The richest 20,000 own almost a third of the UK’s total liquid wealth. But women are more likely to diversify their assets than men, who tend to prefer the traditional equity/bond divide.

Fishing for funds
Wealthy investors are increasingly using their luxury yachts, private planes and even salmon fisheries as collateral for bank loans. With bonuses in short supply, younger bankers looking to buy properties are raising money against art and antiques. Older investors are using inherited estates as collateral for loans on second properties.

The specialist mortgage broker Largemortgage­loans.com says some clients are using their sporting estates in Scotland, including grouse shoots and salmon runs, to get a loan. BNP Paribas and Barclays Marine Finance are prepared to lend against a yacht, while Credit ­Suisse loans against art.

Those keen to get a loan against their woodland estate, meanwhile, can turn to ­Swedish bank Handels­banken.

Equities’ big slice
Private banks around the world are ditching alternative asset classes in favour of equities, ­according to a report by Scorpio Partnership. Banks’ ­allocation to alternatives – such as hedge funds, private equity and commodities – fell to 7 per cent at the end of last year. At the start of 2009, they made up a quarter of clients’ balanced portfolios. In contrast, on average the same portfolios had 49 per cent in ­equities at the end of the year, up from 37 per cent in the first quarter of 2009.

Just less than half of the global banks questioned said they planned to increase their clients’ weighting towards equities even further this year.

But clients of private banks should make sure they are being sold appropriate investment products. Last year, wealth managers moved more of their clients into their in-house ­products – from 22 per cent to 40 per cent, which Scorpio ­believes was a bid by the banks to protect their ­diminishing margins. n

Rocketing rouble
The Russian stock market was one of the best performers in the world last year – so it is perhaps no surprise that Moscow is also the most expensive city in the world for a business person to rent a hotel room.

The average hotel room in Russia’s largest city now costs $408, despite a slight fall in the rates on the previous year, according to a survey by Hogg Robinson Group. Moscow was closely followed by Abu Dhabi, where the ­average room costs $343, New York ($314) and Paris ($309).

Average room rates as measured in local currency terms fell across all regions last year, the report found, but some cities held up better than others. London, Houston and Johannesburg managed “only” single-digit falls.

At least Moscow is no longer the most expensive city for expats. That spot now goes to Tokyo, according to a separate report by Mercer, with the Russian capital down in third place.

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