CLSA's show goes on but without the annual gala party
The CLSA Investors' Forum is generally regarded as one of the highlights of the annual conference circuit for investors. The forum runs for five days and includes big name speakers, one-to-one meetings between investors and corporates and a lot of schmoozing and networking in between.
However, we learn that one popular element of the forum is to be axed this year - the gala party. This is generally a sumptuous affair with as much good food and drink as guests are prepared to consume, along with a top notch entertainer. Last year featured Jesse J, and previous years have featured Duran Duran, Katy Perry, Elton John, Rihanna and many more.
CLSA says the decision to drop the party was not a cost-cutting measure. CLSA's head of communications, Simone Wheeler said that while the investors' forum is always oversubscribed by clients, the number attending the party had been declining. "We noticed over time that we were entertaining fewer clients and more non-clients."
The reason for this decline, she explained was to do with the change in the way clients engage with brokers. This, she said, was being driven by their own internal policies along with regulatory requirements. "Increasingly clients were saying to us, 'We can come for the content but not for the canapés'".
In previous years, asset managers had been able to pass on the cost of research, conferences and access to corporates to the fund holders as part of the cost of running the fund. However, regulators in the past few years have taken an increasingly dim view of this and have said that asset managers should carry these costs themselves. "So after 21 years of the gala party, we have decided to retire it," said Wheeler.
This will be regarded as a pity in some circles as it was one of the best parties in town. Though whether we would want the cost of attending it added to the cost of our pension fund is another thing altogether.
The number plate is of interest, SHOW RM4, as it is one of five personalised registration plates that the government happily sells them at auction to ply their illegal trade. They have recently applied for SHOW RM5 and no doubt our government will cheerfully oblige.
Other advertisers that have used these promotional trucks and parked illegally with idling engines in Tsim Sha Tsui have included in the past few months, Groupon, Panadol Cold and Flu, Citibank, Swatch, New Balance and Monster Energy.
Intelligence Squared is staging another debate on art to coincide with Art Basel and has appropriately secured the support of the Women's Foundation.
The subject for debate: "The art world is a boy's club". Speaking for the motion will be Frances Morris who is head of collections, international art, with the Tate, seconded by Gregor Muir, executive director, Institute of Contemporary Arts, London. Charles Guarino, the publisher of is speaking against the motion along with Elaine Kwok, director of education, Christie's Education, Asia.
The event is on Sunday March 15 at 2pm at the Hong Kong Convention and Exhibition Centre, and tickets cost HK$300.
