CAMPDEN MONTHLY DIGEST October 2020...Ramakrishnan expanded Transworld Group from a shipping agency...

◆ About Campden Family Connect

◆ Campden Global Forums & Webinars: October 2020

◆ Campden Global Forums & Webinars: November 2020

◆ Global Family Features

Index

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- In-Conversation with Ramesh Ramakrishnan, Chairman, Transworld Group

- Family Offices Cherry Pick Top Executives In Competitive COVID-19 Labour Market

- Would A Stock, By Any Other Name, Rise Just As High?

- US Presidential Election: Amundi On How It Will Impact US Economy And Financial Markets

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- Indian Families in Business Meeting

- Alternative Fund Manager Event

- Geopolitics & Geo-Economics

- Women & Wealth

- Needs & Leads

- Virtual Family Investment, Impact & Ethics Meeting

- MedTech Investing Europe

- Virtual NextGen Seminar: Globalization

- Campden Club Virtual Fund Meeting

- Lessons Learned From Catastrophe & Business

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Ramesh S RamakrishnanChairman, Transworld Group

In-Conversation with Ramesh Ramakrishnan, Chairman, Transworld Group

Ramesh S Ramakrishnan, the chairman of the global family-controlled shipping and logistics group Transworld, says being alert and agile for new opportunities will be vital for families as businesses cope with the new post-pandemic world.

Ramakrishnan spoke with CampdenFB ahead of his chairmanship of the leading Indian Families in Business Meeting, organised by Campden Family Connect, on 21-23 October, 2020.

Ramakrishnan expanded Transworld Group from a shipping agency house his father founded in Mumbai in 1977 to an award-winning fully integrated logistics and shipping conglomerate with its global footprint across all aspects of the supply chain. The group’s expertise covered a range of solutions, from ship owning to project logistics to warehousing.

Ramakrishnan has been a resident of the United Arab Emirates (UAE) since 1989. He was born to the late Shri Sivaswamy Iyer and Smt Valli Sivaswamy and was raised in Quilon, Kerala. After completing high school, he moved to Mumbai with his parents and graduated from Mumbai University, while continuing to work in his father’s fledgling business. He successfully completed the Owner/President Management Programme at Harvard Business School and has chaired Transworld Group for 32 years.

Global Family Feature

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The third generation of the family business was assured with his son Ritesh S Ramakrishnan working as joint managing director and daughter Anisha Ramakrishnan as director of corporate responsibility and business analytics.

Ramesh S Ramakrishnan is a recognised philanthropist who supports charitable trusts and causes. He promotes Indian art, music and culture in the UAE and India. He backs the development of rural India and women’s health and empowerment with initiatives including Transworld Group’s sponsorship of the Usher School of Athletics, led by Indian Olympian PT Usha.

Ahead of the meeting, Ramakrishnan shared his thoughts on the family values he passes on to his next generation, the sustainable investments he is most passionate about and how family businesses should prepare for the post-Covid-19 world.

What will be the key messages you want to send to family peers in your role as chairman of the Campden Family Connect Indian Families in Business Meeting 2020?

It is an honour for me to chair this meeting of an illustrious group and I appreciate Campden Family Connect to connect me with peers, share experiences on challenges faced and learn from each other the best practices during these tough times and situations going forward.

Any crisis presents everyone an opportunity to reflect, make amends to the status quo and find new opportunities for the future. Times like these make you humble. The more we accept and embrace the new reality, the easier it gets to find new ways to navigate and come out stronger.

Some of the key messages which I would like to share with other family peers at this meeting are how families will be running their businesses in the new world, making changes, adapting and ensuring their leadership and legacy are maintained. In today's increasingly changing marketplace, families now must contend with the realities of tough ownership decisions, the ability to create flexible management structures as well as optimise intergenerational communication.

What have been your toughest decisions yet in managing the impacts of the coronavirus pandemic on your family business Transworld Group?

Every disruption is test of our inherent strength and tenacity in adapting to changing circumstances. The best part of Transworld is, though it is a family owned business, every employee feels a part of the Transworld family as a “Transworldite”. We did have to take some tough decisions to mitigate the impact of the Covid-19 pandemic. Before Covid struck, we were

working on many plans and examining new projects. So when Covid happened and businesses were disrupted, we had to take some tough decisions, not only for the new growth areas, but also to ensure we are able to navigate our existing businesses by making them leaner and stronger.

The strategy and action plans were carefully deliberated and worked out by our senior team members collectively. In fact, we did surveys soliciting suggestions from all levels, right up to the junior most staff on steps to be taken in facing this challenging situation.

Our senior management team members including the board of directors volunteered for a substantial salary reduction, which was subsequently restored. This voluntary reduction was suggested by them so that the junior staff members are not impacted, and they continue to get their salaries. This speaks volumes of our leadership team and putting team and the organisation above oneself.

We have always believed that staying focused and positive in tough times always yields positive results. We have always taken a long-term view on the business side which helps us to take tough calls that are in line with the long-term interest of our businesses and also create value for all stakeholders.

Is this era of geopolitical uncertainty and recession the right time for a family business to invest and acquire or consolidate and preserve wealth?

The mission of our family office is to pursue long term wealth creation and building legacy for future generations. I believe that family offices should always look for opportunities irrespective of the economic and social situations prevailing. Rather than taking extreme standpoints, the wealth creation strategy should be to manage risks at all times. Economies and markets go through cycles and it is not possible to time the markets. However, when there is disruption, uncertainty and fear all around, like in the present situation, statistics will also confirm that these are the best times to commit long-term capital. Investing in stressed times will more often than not, generate outsized returns on the invested capital. In such times, reviewing the current portfolio of investments, investing from a long-term perspective and at the same time conserving and prudently deploying existing resources can be a possible approach.

I believe next year will provide lot of opportunities to build a long-term portfolio. Technology enabled sectors like healthtech, edtech, etc will continue to outperform. Traditional businesses will have to adapt quickly and undergo changes to cope with the new environment. Hence, agility will be a key driving factor for the family offices to remain nimble and alert for opportunities and new ideas.

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Which lessons did you learn from your father, Mr R Sivaswamy, in your succession in the family business that you apply to your next generation, son Ritesh Ramakrishnan and daughter Anisha Ramakrishnan?

There are two important lessons I would like to highlight here—vision and human relationships. My father was having only partial eyesight. But that did not deter him form having a large vision and dreaming big. From humble beginnings in a village in Kerala with no capital to start with, he visualised owning a fleet of ships and creating a world-class organisation. Another most important lesson is that our values and ethics is what defines our character. Human touch in our dealings, respecting people, giving back to society is more important than just being successful and accumulating wealth. Being a ‘good human being’ is more important than being a ‘great human being’ is the legacy of my father our family strives for.

It makes me proud to see the next generation, my son Ritesh and daughter Anisha, also being very tuned in to the values and the vision which was set out by my father. They have ensured that the human element is not lost while dealing at the workplace or in business relationships with other stakeholders. I am happy to share that in the last two years, our organisation has been recognised as a ‘Great Place to Work’ by awards in both in United Arab Emirates and India. Furthermore, we have made lot of progress in the corporate responsibility space, where we have aligned our goals with some of the key UN’s Social Development Goals (SDGs).

How can family business leaders attract and retain the best non-family talent at their C-suite level?

We, at Transworld, are fortunate to have most of our staff, especially the non-family leadership team, working with us for decades. As I think back, mutual trust and respect, transparency, involvement in decision making processes and the ability to speak up and take decisions are some of the key factors that helped develop commitment among our employees.

In my opinion, at the stage of recruitment of a C-suite executive, it is important to ensure that the person apart from being an outstanding performer, also has his or her value systems aligned with those of the family business. Also, a clear job profile and clarity on a growth plan along with proactive feedback to the executives provides comfort and improves the stickiness to the organisation.

It is equally important that the family also develops a mindset to drive the business in more institutional manner and not as a typical family-run business. Good governance practices and having independent minds guiding the family business are equally important to attract best in class talent. Lastly, one can attract the best of talent at a price, but in order to retain them, it is important to provide them with a working environment which motivates them to excel and also conduct themselves in line with the family business values.

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In which causes should family philanthropists focus their sustainable investments in the next decade?

Sustainable investing has been a focus area among family philanthropists. However, the outbreak of this pandemic has accelerated the activity and will continue to do so going forward.

In my opinion, environment, food and health are going to be the themes among the family philanthropists considering the impact of global warming, as well as the pandemic this year. It is important that families support businesses which are creating positive societal impact and at the same time generating long term competitive financial returns. I see lot of venture funds also working in this space and families should support such initiatives.

From our organisation perspective, the higher purpose is ‘Delivering Prosperity’, not for ourselves, but for the entire ecosystem around us.Through our Corporate Responsibility (CR) activities we have always focussed on harmonising our core values of integrity, transparency, respect, customer centrality, excellence, and social and environmental responsibility with the UN’s Social Development Goals (SDGs).

We have made the following four areas as the key focus areas to create long term impact:

• Marine stewardship

• Health, food and water security

• Gender equity and inclusion

• Arts, education and civic engagement

Our Employee Volunteering initiative, wherein employees are encouraged to engage in social volunteering activities around pressing social issues, has made our staff members philanthropists in their own right. They drive regular community-based initiatives, awareness campaigns and encourage cross-learning and talent sharing with our organisational partners. The volunteering programme is driven by a group of CR Energisers—a voluntary cross-section team of employees.

Rather than just donating money to a cause, it is important philanthropy is looked upon as our moral obligation to give back to the society and the environment we have lived in and taken so much. More importantly, it’s the thought-seed of giving and caring we should nurture in people that can be truly sustainable than any amount of financial contributions.

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Family Offices Cherry Pick Top Executives In Competitive COVID-19 Labour Market

Expanding family offices are finding themselves spoilt for choice in recruiting and retaining executive talent to help them navigate an increasingly complex and diversified investment space.

After a six-week pause, family offices have returned to pre-coronavirus lockdown levels of activity in hiring new staff, according to leading family office recruiter Agreus Group. Professionalised families were depending less on outside institutional advisers as they had in the past. They sought talented professionals as they entered ambitious direct and co-investment deals just as lockdown redundancies thrust skilled, experienced and connected candidates back onto the crowded job market.

Family Office Invesment in Venture Capital 2020, a new research study by Campden Wealth with SVB Financial Group, identified where families needed access to expertise—76% of family offices invested directly in companies and 26% sourced their own opportunities.

Co-investments made-up 19% of the average venture portfolio for a family office. Almost all (92%) of families surveyed invested alongside other families and/or venture funds to share expertise and due diligence. One family having expertise on staff that partner family offices did not could encourage in dealmaking and returns.

Nearly half (47%) of families engage in impact or environmental, social and corporate governance venture capital, the report said.

“Interest is growing, particularly amongst the next gen, and as family offices appreciate that returns are not necessarily compromised.”

Staffing requirements also evolved in step with the direction and demands of family offices investments. The Family Offices Investing in Venture Capital study reported 63% of family office principals said their capital allocation to venture will stay the same or increase, despite the coronavirus pandemic.

“However, family offices may deploy capital more slowly, place greater emphasis on quality managers, and move further towards sector diversification.”

CampdenFB spoke with Paul Westall (pictured above), director of the London and New York based family office recruiter Agreus Group, about the state of family office hiring disrupted by Covid-19. We asked Westall if family requirements and compensations for staff have changed in the aftermath.

How would you rate the activity in the family office job market at the moment compared to a year ago?

Up until the start of lockdown the family office recruitment was the busiest it had ever been. Naturally, there was a sudden stop to all activity as conducting interviews were the last thing on our client’s minds. There was a period of six-weeks from the start of lockdown where our clients held off all recruitment activity.

Once family offices adjusted to the change in situation globally there was a pick-up in activity. Two benefits that family offices structures have in common are total control and the ability to be a lot more nimble in your decision making.

We helped two new clients set up a family office from scratch during the lockdown and there has been an uplift in enquires from clients looking to set up for the first time, an increase from the same period in the previous year. The recruitment activity from already established family offices has only reached the same level as the previous year within the past four weeks. Prior to this, during lock down, the recruitment activity levels had dropped by 30%.

Are family offices making changes to their competitive offers to attract and retain top talent?

Over the 10 years we have been helping family offices with their resourcing and recruitment, they have made significant changes in order to make their compensation competitive to attract and retain top talent. The space has also become more professionalised.


Paul Westall, Director, Agreus Group

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Family offices are allocating larger portions of their assets to private equity investments and hence are attracting candidates from that background. These candidates have typically had more formulaic bonus structures as opposed to discretionary. However, it is important to note that we advise family offices to structure their compensation based on the purpose and objectives of the family office, so compensation can be very specific to each family office.

Are family offices trimming their recruitment drives in the face of rising operational costs and in this era of investment uncertainty?

Family offices have always been fairly lean with their team structures and we haven’t seen any drives to cut costs by trimming their recruitment. On the contrary we have seen family offices reacting to new opportunities and having to bring in additional expertise in order to have knowledge and talent inhouse. This has been a trend over the years where family offices are relying less on external advisers such as banks. The spate of recent redundancies have flooded the market with talented professionals who are now being selectively targeted by family offices.

Which skill sets and experiences are most in demand from family offices at the moment?

There is always a demand for finance and accounting staff with family offices however, there are no trends on recruitment currently. We are helping clients recruit across a wide range of skill sets from investment staff, accounting, operational and support.

Are family offices making progress in gender balance and diversity initiatives?

There is still a lack of gender balance and diversity within family offices. From our recent Global Family Office Compensation Benchmark Report it showed on average across the globe 70% of staff are male. This is more a reflection of the talent pool from which the staff are attracted. It is important to add that from our experience, family offices show no prejudices in this regard and recruit based on the cultural fit rather than gender. Some of the most successful family offices we work with are led by women.

Is the UK’s departure from the EU deterring European talents from seeking employment in UK family offices?

We aren’t seeing this as an issue at this stage. Language skills are always an advantage within family offices as the principals often have multijurisdictional projects, where additional language skills will only be a positive.

How are family offices adapting to staff working from home, if at all?

Family offices are all very different and each have approached this differently. Some have had staff in throughout the whole pandemic, where legally possible, whereas some are working fully remotely. I think going forward, the trend will be for a balance of both. There is still a need for face time and when working in a small team this can be easier to manage.

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Would A Stock, By Any Other Name, Rise Just As High?

Traditional finance theory tells us that markets are rational. Investors incorporate all public and private information when making their investment decisions. This school of thought is grappling with the field of behavioural finance, which asserts that human psychology and biases also act in an irrational way to influence these same investment decisions.

One well recognised phenomenon in psychology is the fact that individuals show a preference for information that is easy for the brain to process. This characteristic is known as fluency and leads to feelings of familiarity, affinity and a positive impact on our judgement. Rhyming proverbs such as ‘woes unite foes’ are believed to be truer than snippets such as ‘woes unite enemies’.

A collection of studies over the last decade has shown that this phenomenon occurs in stock markets. The first of these, in 2006, found that the early performance of a listed share, for example following an initial public offering (IPO), is positively influenced by the pronounceability of the company name and ticker symbol. Those companies with easier-to-process names and tickers performed better over the short term.

This finding is particularly telling given the failure of many complex, economic models to determine significant drivers of short-term price movements. The answer may be something as irrational as name fluency.

Since then, studies have expanded on these results. In 2013 a pair of researchers identified that those companies with fluent names tend to have a broader shareholder base, greater levels of share turnover and better liquidity profiles. Fluency in this case was defined using metrics such as length, Englishness and performance in a standard spell checker. More fluent names led to higher valuations (price-to-book ratio) and greater firm value. Amongst smaller firms, the results were particularly robust, perhaps since investors are less familiar with the company’s underlying fundamentals and must resort to the simplicity of the name. They go further. The fluency effect is also seen within firms. A change in company name to a more fluent option also translated into an uplift in firm value, implying that fluency is not a proxy for a company that is larger, better run and more familiar.


Oliver Shale,Senior Investment Associate,

Ruffer LLP

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Fig 1 Actual performance of shares with pronounceable and unpronounceable ticker codes in theAMEX market after entry to the market, from 1990-2004

This phenomenon is not confined to the western markets and languages. A 2018 study on A-share listed Chinese companies found that those with simple ticker symbols, based on length and number of strokes, also traded with higher liquidity and superior performance following an IPO. Once again the effect is more pronounced where there are higher levels of information asymmetry.

In sum, the evidence implies that investors respond positively to more fluent stock market stimuli. Elements unrelated to company fundamentals are impacting investor evaluation. And what’s more—this is a global occurrence. Such an effect predicts that companies with names like ‘Apple’ will be afforded more preferential trading characteristics than companies with names like ‘Bristol Myers Squibb’, at least initially. If so, it is an obvious method for a management team to improve investor recognition, company trustworthiness and firm value.

Read full story here

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Fig 2. The effects of company name fluency on breadth of ownership, liquidity (Amihund score) and firm value

http://www.campdenfb.com/article/would-stock-any-other-name-rise-just-high

US Presidential Election: Amundi On How It Will Impact US Economy And FinancialMarkets● US presidential election outcome: Joe Biden has enjoyed a remarkably stable lead in the national polls this year. Currrently, he is leading President Trump by 7.6%, according to our poll of polls, down from a peak of 10.4% in June. However, we believe the race is much closer, at around 50/50, with a small Biden edge. The outcome remains uncertain for different reasons. Firstly, while Biden's lead in the national polls is significant, his lead in the swing states is only 3.9%, and in many states, his lead is within the margin of error. We expect the election to be determined by a handful of swing states, including Arizona, Florida, Georgia, Michigan, North Carolina, Pennsylvania and Wisconsin. In addition, turnout will be critical. We are anticipating record turnout, with the highest number on record voting by mail. Overall, the public has a net negative approval rating for

Trump of -9.6%, according to our poll of polls. However, Trump enjoys a positive net approval rating of 4.0% on his handling of the economy, which could help him gain more popular support if the economy gains momentum.

● Key themes for the candidates: There are three main themes in Trump’s campaign: law and order, China, and Biden’s fitness for office. Biden is campaigning on economic policy (“Build Back Better”), healthcare, racial justice and morality. Biden is planning another fiscal stimulus package to address immediate economic issues tied to the pandemic. Also, he has plans for a major infrastructure investment and supports a modified version of the Green New Deal. Biden plans to boost Obamacare and prescription drug reform. Both candidates will have to deal with the long-term issue of rising inequality.

● Investment implications: The dollar should stay weak in the medium term, due to the re-emergence of twin deficits and an escalating debt/GDP ratio, together with the Fed’s long-term commitment to near-zero rates. If the prospects of a Trump re-election increase, we could see the dollar appreciate temporarily based on concerns regarding the prospects of heightened trade tensions and broader geopolitical uncertainty. In any case, we expect to see near-term market volatility around election time. The greatest risk to short-term market dynamics is an undecided race. Depending on the winner, certain market sectors may respond differently. Big tech, defense, financials and carbon energy sectors are likely to perform better under Trump while renewable energy and infrastructure-related sectors will be winners under Biden. Under both scenarios, we believe that ESG investing will gain increasing traction globally, with rising investor pressure for increased disclosure and enhanced ESG practices, supported by accelerating ESG equity flows, including in the United States and despite Trump’s backtracking. Should Trump be re-elected, the theme will continue to gain traction, albeit not at the same level should there be a Democratic sweep.

● International relations: US-China relations are likely to prove difficult. In addition to the ongoing tech war, capital war on foreign holdings, and re-shoring of the global supply chain, the current situation in Hong Kong introduces the risk of US sanctions on Chinese banks and an exclusion from the dollar system. Hence, thephase-one trade deal appears on hold for now, with little hope for a phase-two deal. Accidental confrontations in the South China Sea or in the Taiwan Strait might push the situation to a point of no return. US-EU relations have deteriorated significantly under Trump. Some improvement is likely under a potential Biden presidency while further trade barriers may be decided on if Trump is re-elected.

The US presidential election is expected to be one of the key market drivers in Q4: what are current market expectations and what is your view?

Joe Biden has enjoyed a remarkably stable lead in the national polls since the beginning of the year. According to our poll of polls, Biden leads President Donald Trump by 7.3% as of 15 September 2020, little changed from before the Democratic and Republican conventions which took place this summer, when Biden’s lead was 7.5% on 5 August 2020. However, Biden’s margin has shrunk from a peak of 10.4% reached on 23 June 2020.


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The political betting sites also have Biden as the favourite. Predictit—one of the leading betting sites—recently forecast the odds of a Biden victory at 60% while Iowa Electronic Markets showed a smaller edge, at 52% as of 13 September, 2020. However, despite the stability in the national polls and the betting site expectations, we believe the race is much closer, at around 50/50, with a small Biden edge. The outcome remains uncertain. The trajectory of the race remains fluid and potentially volatile as we head into the final stretch of the campaign for different reasons:

● Firstly, as former Democratic presidential candidates Al Gore and Hillary Clinton learned the hard way, it is not the popular vote that elects a president in the United States in the end, but who wins the electoral college. While Biden's lead in the national polls is significant, his lead in the swing states is only 3.9%, and in many states, his lead is within the margin of error. We expect the election to be determined by a handful of swing states and we are focusing on Arizona, Florida, Georgia, Michigan, North Carolina, Pennsylvania and Wisconsin. Biden’s lead in Florida and North Carolina is within the margin of error; his lead in the other states remains nominally above it.

● Secondly, turnout will be critical. We are anticipating an all-time record turnout, with the highest number on record voting by mail. This could potentially account for one-third of all votes cast. We estimate that among Biden supporters, only 25% of voters expect to vote on election day compared with 67% of Trump voters. This begs the question of whether there are adequate resources in place around the country to handle the number of votes by mail. Mail-in ballots can represent a fraught issue, with the challenges of counting of split ballots (with votes for candidates of different parties in different races) and the accuracy of filling out the ballot. Regarding Trump, he is likely to bring more voters to the polls who do not normally vote in elections. This was his path to victory in 2016.

David Wasserman from the Cook Political report estimates that among those who did not vote in the 2016 election, some 60-65% were the likely Trump voters (non-college educated white voters) in the swing states of Pennsylvania, Michigan and Wisconsin.

● Moreover, the debates are likely to have a large impact and may sway the small number of undecided voters. The focus will be Biden’s performance in the debates, as the pandemic has limited his exposure to voters on the campaign trail.

Finally, the unfortunate death of Supreme Court Justice Ruth Bader Ginsburg gives Trump an opportunity to galvanise his most loyal core base evangelical voters since conservative court appointments is the single most important issue for these voters. At the same time, Biden will remind voters of the about turn in the GOP politicians for not holding the same standards of allowing the next president to choose the next justice (no hearing for Obama’s selection of Merrick Garland in 2016). He will campaign that a conservative-dominated court risks the over-turning of previous decisions including abortion, gay rights and Obamacare.

Read full story here

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http://www.campdenfb.com/article/us-presidential-election-amundi-how-it-will-impact-us-economy-and-financial-markets

Campden Global Webinars: October 2020

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20-22 OCTOBERVirtual Family Investment, Impact and Ethics MeetingCampden Wealth

21-22 OCTOBERMed-Tech Investing Europe Conference

Campden Wealth

13 OCTOBERWomen & Wealth

21-22 OCTOBERIndian Families In Business Meeting

8 OCTOBERNeeds and LeadsInstitute for Private Investors

Campden Wealth

6 OCTOBERAlternative Fund Manager Event

Institute for Private Investors

8 OCTOBERGeopolitics & Geo-economics:

The Most Important Pivot In A GenerationCampden Wealth

Campden Family Connect

23 OCTOBERIndian Families In Business Meeting:Break-Out SessionsCampden Family Connect

28 OCTOBERVirtual NextGen Seminar: GlobalizationCampden Wealth

29 OCTOBERLessons Learned From Catastrophe& BusinessInstitute for Private Investors

29 OCTOBERCampden Club Virtual Fund Meeting

Campden Club

27 OCTOBERWomen & WealthCampden Wealth

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Our Partners

Hosted in a highly private and confidential setting, this virtual forum deliberated on how Families would be running their businesses in the #NewWorld- right from re-aligning strategies to retain legacy, adapting digital transformation to exploring the future of WFH culture. Along with interactive pre-summit networking, the forum also included engaging break-out sessions on topics of current concerns.

Themed on 'Achieving Longevity', the 2 day forum was chaired by Ramesh Ramakrishnan, Chairman, Transworld Group. In his inspiring keynote, he shared the journey of Transworld- from a Shipping Agency in Mumbai to a global shipping and logistics service provider. This was followed by a panel discussion where Dr. Aarti Gupta, DBR Ventures, Dilip Piramal, VIP Industries and Perizaad Zorabian, Zorabian Chicken discussed strategies to retain family business legacy. The summit also had expert sessions by Kalpen Parekh from DSP Investment Managers who gave tips to avoid making emotional financial investments, Zia Mody from AZB & Partners on protecting one's wealth in uncertain times and representatives from Canam Investor Services and FRR Immigration who articulated the process of acquiring US green card via investments.

Families also shared their sentiments and business implications of WFH culture. Moderated by Aditi Kothari Desai, DSP Investment Managers, the panel had Janak Sarda, Deshdhoot Media Group and Darshan Hiranandani, H-Energy Global share their inclination towards adopting WFH in the #NewWorld. An expert panel of CTOs from large family businesses also discussed the technology transformation and future of enterprise

Indian Families in Business Meeting

Shiv KhemkaSUN Group

Zia ModyAZB & Partners

Aditi Kothari DesaiDSP Investment Managers

Ameera ShahMetropolis Healthcare

Darshan HiranandaniH-Energy Global

Janak SardaDeshdoot Media Group

Ramesh Ramakrishnan Transworld Group

(Chair for the forum)

Dr. Aarti GuptaDBR Ventures

(Jagran Family)

Perizaad ZorabianZorabian Chicken

Dilip Piramal VIP Industries

Kalpen ParekhDSP Investment Managers Pvt Ltd

SPEAKERS FOR THE MEETING

Je� DeCicco Canam Investor Services

Avadhut ParabWockhardt Ltd.

Jitendra SinghJK Cement

Satyanarayana KasturiAshok Piramal Group

Abhinav LohiaCanam Investor Services

Janak MehtaFRR Immigration

October 2020

&

technology.

Shiv Khemka, Vice Chairman, Sun Group shed some light in his keynote speech about entrepreneurship in a global family business and his passion for mentoring NXG in the start-up space and managing the family foundation. We also had Ameera Shah, Promoter & Managing Director, Metropolis Healthcare discuss her business learnings and her strategies that helped overcome challenges in retaining market leader position.

We would also like to thank our partners DSP Investment Managers, AZB & Partners, Canam Investor Services & FRR Immigration and Institut Auf Dem Rosenburg.

Alternative Fund Manager Event

Geopolitics & Geo-Economics

With an eclectic mix of managers touching real-estate debt, venture (both early & growth) and concentrated equity, managers who were part of this session had deep sector expertise and long-standing experience as they went on to present their insights on these various industries and answered Q&A’s that members posed towards the end of the session. Members not only were able to hear about new funds but also gained invaluable international marketing perspective.

Changes in the frameworks under-pinning US v China relations are creating a competition of power between the two nations, which in turn is driving major investment themes globally. With the threat of Geo-Political recession, both rarer and longerlasting than economic recessions, geopolitics itself becomes a pivotal component of macro investing. In this session, speakers discussed this new shift, now known as “Great Power Competition” and its profound changes in Geopolitical and Geo-economic relationships globally and the diverse set of investment opportunities as well.

members’ leadership roles within their family and Family Office and beyond this, sharing, owning and understanding the importance of women leaders in society. During this session we heard from leading women from a broad array of backgrounds, including inheritors and wealth creators, entrepreneurs and investors. Those captivating conversations brought to light a variety of factors, opportunities and challenges that inspired these women, helping to shape who they are today.

Women & Wealth

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October 2020

An IPI member-led session designed to tap into the insight and connections of fellow peers in a confidential setting. Members shared business and investment “needs” followed by clarifying Q&A, and received “leads” from participating IPI members in return — all in 2.5 minutes! A great opportunity for members to share their pressing investment and business challenges and receive peer support.

Needs & Leads

Membership | Events | Research | Education | IPI


Campden Wealth & The Institute for Private Investors has been hosting seminars for their network of female family members and CEOs around the world to hear stories, provide insights, and improve critical decision making. By achieving this the network supports

Adapting and innovating your purposeful portfolio – This three-day event provided investors and family office principals with the case studies on investments and macro trends, followed by a deep dive into successful tactics for ESG and impact investing, plus philanthropic giving.

Virtual Family Investment, Impact & Ethics Meeting

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Today’s families and nextgen are more globally-focused than ever before. A family may be born in Thailand, attend college in London, intern on Wall Street, and start a technology firm in Silicon Valley. In this seminar we discussed how globalization is impacting families and what it means for the future of business.

Virtual NextGen Seminar: Globalization

As we know from the 2019 issue of our Global Family Office report, the vast majority of family offices were moving into cash as they saw the possibility of a recession in 2020, however no one would have predicted the black swan event of Covid 19. That said, the

Campden Club Virtual Fund Meeting

Lessons Learned From Catastrophe & BusinessPatti Clement began the session by addressing one's planning for natural disasters and more before Jeff Immelt (former CEO of GE and venture partner at NEA) tells of his lessons learned as a CEO and Investor. Prior to being appointed Chief Executive Officer in 2000, Jeff held several global leadership roles at GE in the Plastics, Appliances, and Healthcare businesses and became an Officer of the company in 1989. He has been named one of the “World’s Best CEOs” three times by Barron’s, and while he was CEO, GE was named “America’s Most Admired Company” by Fortune magazine and one of “The World’s Most Respected Companies” in polls by Barron’s and the Financial Times. He has received 15 honorary degrees and numerous awards for business leadership.

community are now looking for options and ideas to benefit from the market dislocation and what all economists see as a sharp V shaped recovery in the 2 nd half of 2020. This session had a blend of funds and managers presenting on strategies to include Equities, Venture Capital, Private Equity, Private Credit, Private Debt, Real Estate, Hedge Funds, Agriculture, Emerging Markets and more.



Jeff Immelt,Former CEO, GE

October 2020

investors including VC’s, angel investors, leading MedTech corporations, private wealth holders, family offices and many more.

MedTech Investing EuropeMedTech Investing Europe is the longest-established and leading healthcare investment and partnering conference in Europe. This forum brought together the very best game-changing technologies and leading entrepreneurs with a wide range of healthcare Membership | Events | Research | Education | IPI

Campden Global Webinars: November 2020

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10 NOVEMBERWomen & Wealth


11 NOVEMBERIn Conversation:Jeremy Grantham (Founder of GMO)Institute for Private Investors

5 NOVEMBERPost US Election SpecialInstitute for Private Investors

5 NOVEMBERThe European Family Office ForumCampden Wealth

6 NOVEMBERLearnings From Patni Family:Pioneers of Family Office in IndiaCampden Family Connect

2 NOVEMBERUK Investment Opportunities

Campden Wealth

5 NOVEMBERNeeds & Leads


24 NOVEMBERVirtual NextGen Seminar:

Succession Planning & DecisionCampden Wealth

19 NOVEMBERWomen & WealthInstitute for Private Investors

24-26 NOVEMBEREuropean Families In Business MeetingCampden Wealth

16-18 NOVEMBERVirtual Family Office Meeting

Campden Wealth

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ABOUT CAMPDEN FAMILY CONNECT

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To know more, contactKapil Divadkar | [email protected]

CAMPDEN CLUB

CAMPDEN CLUB MEMBERSHIPCampden Family Connect is a pre-eminent global membership network for India’s Ultra-high Net Worth

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forums, pioneering research work, progressive publication material and advanced education programs.

To know more, write to [email protected]

You become a part of the global community of over 1400 Family Business Owners, Single Family

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STRATEGIC PARTNERSHIPCampden Family Connect o�ers a unique and strategic partnership opportunity that will enable a select group of professional advisory �rms to bene�t from establishing a campaign with Campden in India and position themselves in front of our community of families and family o�ces with a consistent presence and message. �is partnership can be availed by advisory �rms from various areas of specialisation such as Banks, Wealth management, Asset management, Insurance, Real estate, Law �rms, Business schools, Consultancies, Lifestyle agencies etc.

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CAMPDEN MONTHLY DIGEST October 2020...Ramakrishnan expanded Transworld Group from a shipping agency...

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Transcript of CAMPDEN MONTHLY DIGEST October 2020...Ramakrishnan expanded Transworld Group from a shipping agency...