“You may well lose money, but you will have good fun in the process”
Louise Stoten, senior partner at New Quadrant Partners, also says owning a racehorse is like going to your children’s school sports day: people want to be in the stand at Ascot or the Dubai Gold Cup cheering on their ‘baby’.
Is bloodstock a wise investment for UHNWIs?
It can be very high risk. It is about having access to the right breeders and having solid contacts. It is a difficult business if you are not ‘in the know’.
Who are the big horse buyers?
We saw big investment in the racing industry from Turkey a few years ago. The Chinese are always mad on their gambling, but I am not sure they have invested as much as the Middle Eastern community. Horses are not part of cultural life in the Far East in the same way as they are in the Middle East.
Why do the ultra-rich buy horses?
Because they are a status symbol. A winning racehorse is great but very rare. We have seen lots of clients spend a vast sum on horses over the years, and they rarely make money. We also have clients who are breeders. Many are successful, but some are not. It is like your children winning at their school sports day: people want to be in the stand at Ascot or the Dubai Gold Cup cheering on their ‘baby’. It makes a great statement to others that you have money to burn.
What is the most important thing to know when buying top-end horses?
You may well lose your money, but you will probably have good fun in the process.
Oakglen Wealth launches UK investment management arm – Quilter Cheviot veteran Dominic Tayler at the helm as Managing Director
Jersey based Oakglen Wealth (formerly known as Oakbridge Wealth) announces the launch of its UK business, marking an expansion of its presence in the investment management and wealth advisory arena.