The Ritossa Family Office will host the sixth annual Global Family Office Investment Summit June 27-29 in Monaco. This year’s theme is “Investing in a new age” with presentations, panel discussions and roundtables on subjects such as digital currencies, biotech, software and alternate energies. There will also be a spotlight on co-investing and a series of five minute per speaker start-up pitches. More than 250 delegates from around the world including prominent family offices, businesses, royal families, private investment companies, funds and professionals from select industries – representing a collective wealth of over a trillion dollars – are expected to attend.
The Ritossa Family Office has a 600-year-old history of nurturing olive groves and has been known for its contrarian investments which have included the U.S. subprime crisis, the European sovereign debt and banking crisis and various strategic private equity and real estate allocations. Chairman Anthony Ritossa spoke to MarketCurrents about what the expectations are for the summit.
What will be the hottest topics discussed at this year’s summit?
We expect high level discussion and debate around timely topics such as philanthropy, global market trends, portfolio diversification, alternative investment strategies, generational wealth transfer, cryptocurrencies, forex trading, healthcare, biotech, life science, solar energy, artificial intelligence, real estate and more.
Digital currencies (coins, tokens, exchange notes) are on the agenda. What are the issues that need to be discussed?
I am a thematic investor and continue to follow digital currencies as what I view as a “Fourth Industrial Revolution.” All of the various issues related to this emerging industry represent a seismic shift that continues to decentralize the banking industry and our world as a whole.
In my view, many blockchain projects have barriers in place that keep them from wide adoption. We need to have more systems in place to increase acceptance. The technology of blockchain as an open, distributed ledger that can record two-party transactions efficiently represents a never-before-seen way to do business in places around the world that otherwise would be left underserved.
What is top of mind for family offices – maintaining or growing wealth?
Today’s substantial families are dedicated to both growing and preserving wealth for future generations. As younger family members become more involved in making decisions about investing we are seeing more emphasis in areas such as impact investing, global sustainability and fintech opportunities.
Idea sharing and co-investing with other families is increasingly popular and families are more open minded than ever when it comes to identifying new opportunities with emerging managers.
The continuing presence of technology companies speaks a lot about the future outlook of the summit. How much of a priority is technology among family offices?
Technology is power in today’s dynamic investment climate. We see many fintech deals, funds, platforms and managers continuing to generate impressive returns. These opportunities are quite popular with our families.
In addition, our attendees enjoy sharing ideas for improving their own internal technology and systems. They require timely and complete transparency, for example, when investing with outside managers. Everything from tax planning and accounting systems to reporting and performance monitoring is based on the latest technology.
Start-ups are getting five-minute pitch rolls. How effective are these for both the start-ups presenting and the family offices?
Based on past experience, the five-minute pitches are very effective. From the manager’s perspective, it provides an opportunity to focus on key messages from start to finish and they fine tune their “elevator speech” in a way that captures attention. Our investor attendees appreciate being exposed to more managers than would be possible with longer presentations.
Perhaps most importantly, managers and investors have ample opportunity to follow up with each other outside a formal presentation. Thus, they are able to focus on individual interests, requirements and opportunities. We see that more business is closed using the five-minute pitch scenario than with long speeches often typical of other conferences.
What is the single biggest benefit that you feel delegates will get during the summit?
Facilitated by family offices for family offices, our Monaco Summit will feature two days of private peer-to-peer conversation, networking and cross-border thought leadership. The intent is to make substantial families think about what to look out for, how to invest and why.
More than 300 elite family offices, prominent conglomerate business owners, sheikhs, royal families, private investment companies, sovereign wealth funds and industry professionals from across the globe attend my family office summits. For example, the recent Dubai forum had attendees representing over $2 trillion in investor wealth. With so much wealth and so many ideas in the room, attendees are guaranteed to benefit.