Taking care of one’s family and heirs often includes a desire to ensure a more comfortable future for loved ones, supporting them in pursuing their passions and dreams.
Women tend to value wealth as a source of security, being able to afford a certain lifestyle for themselves and their loved ones.
For women, legacy goals often mean more than passing on wealth to the next generation; it also means being able to shape the world around them for a better future.
Having a personalised wealth plan is crucial to achieve such goals.
About 56 per cent of women (compared with 47 per cent of men) do not know how much wealth they can pass on to the next generation, according to data from the 2022 UBS Investor Watch.
This further highlights the importance of planning. Preserving or better growing money through investing is necessary to avoid wealth erosion through inflation, taxation and consumption over the generations.
Over the years and across generations, that spending power can diminish dramatically. Therefore, there is a need to invest in assets that generate positive and growing returns.
Post pandemic, we see an increase in the number of women who are interested in investing. However, we still see a gap between intention and action.
Women are often more reluctant to take financial risks. This is not because women are per se risk-averse, but rather calculated risk-takers.
Men tend to be more exposed to conversations about investing, even from a young age.
Knowledge and experience help to increase risk-tolerance as it affects the perception of risk. This suggests that if women do not gain investing experience, they will continue to view investing as riskier or more daunting.
We see that younger women are more financially literate, which makes them more financially confident. Once women invest, they tend to do better than men.
A study from Warwick Business School concluded that women outperform men by 1.8 per cent per annum. This is mainly because they trade less often, are more disciplined and less likely to sell during market lows.
To identify the appropriate size and investment approach for the legacy goals, it is important to look at the entire wealth plan and how assets can be allocated to meet one’s needs.
Once women investors have defined and funded their strategies for short-term and medium-term cash-flow needs and lifetime goals, they can invest the remaining wealth in their financial legacy strategy.
Without the need to sustain withdrawals, such a strategy dedicated for legacy goals has an inherently higher capacity for risk.
Specifically, a multigenerational time horizon allows more flexibility in using illiquidity as a source of potential returns.
Examples of illiquid assets that should be considered in a legacy portfolio include real estate, hedge funds, private markets and infrastructure. These offer the potential for higher risk-adjusted returns, but come with the need to lock up capital for longer.
Data suggests that women are comfortable using illiquidity in favour of investment returns.
World's 10 wealthiest women in 2023 — in pictures
More women (61 per cent) than men (50 per cent) were keen to receive advice about investing in illiquid assets, according to the UBS Investor Watch survey.
In addition, research suggests that women’s favourite asset class is real estate, while men’s is equities.
Women investors may also want to incorporate long-term thematic investment funds to benefit from structural trends.
Through long-term themes, women investors are also able to align their investments to their values and beliefs, which provides them with a sense of purpose through their investments.
Research has shown that women tend to have greater confidence in investing their money when their values are aligned with their investments and when they see a social impact.
The UBS survey highlights that 71 per cent of women take sustainable considerations into account when investing compared with 58 per cent of men.
Beyond investing to preserve and grow wealth, it is also important to have succession plans in place to ensure a smooth transfer of assets.
Women investors may want to incorporate long-term thematic investment funds to benefit from structural trends
Marianna Mamou,
UBS CIO Global Wealth Management
However, we also see a gender gap in planning, with 55 per cent of women who intend to leave an inheritance not having any plans in place compared with 41 per cent of men.
Furthermore, according to a study by Limra, only 47 per cent of women have life insurance, compared with 58 per cent of men.
At a minimum, women should have in place a will, together with an assigned person to execute it.
In addition, depending on the specific needs, trust and life insurance solutions may be components of a successful transfer of wealth.
Women value expert advice more highly than men, not only in terms of investment advice, but also in terms of facilitating succession discussions and executing succession plans.
To meet their objectives, women need to plan, invest smartly and orchestrate the transfer of their wealth.
A study by BNY Mellon calculated that if women invested at the same rate as men, there could be more than $3.22 trillion of additional capital to invest globally, with about $1.87 trillion flowing into more sustainable and impactful investing.
Through their investments, charitable donations and financially educating their heirs, women have the potential to make a significant impact on both society and future generations.
Marianna Mamou is head of advice beyond investing at UBS CIO Global Wealth Management
THE SPECS
Engine: 1.5-litre turbocharged four-cylinder
Transmission: Constant Variable (CVT)
Power: 141bhp
Torque: 250Nm
Price: Dh64,500
On sale: Now
Company%20profile
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Company%20Profile
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Racecard
7pm: Abu Dhabi - Conditions (PA) Dh 80,000 (Dirt) 1,600m
7.30pm: Dubai - Maiden (TB) Dh82,500 (D) 1,400m
8pm: Sharjah - Maiden (TB) Dh82,500 (D) 1,600m
8.30pm: Ajman - Handicap (TB) Dh82,500 (D) 2,200m
9pm: Umm Al Quwain - The Entisar - Listed (TB) Dh132,500 (D) 2,000m
9.30pm: Ras Al Khaimah - Rated Conditions (TB) Dh95,000 (D) 1,600m
10pm: Fujairah - Handicap (TB) Dh87,500 (D) 1,200m
Profile of RentSher
Started: October 2015 in India, November 2016 in UAE
Founders: Harsh Dhand; Vaibhav and Purvashi Doshi
Based: Bangalore, India and Dubai, UAE
Sector: Online rental marketplace
Size: 40 employees
Investment: $2 million
FFP EXPLAINED
What is Financial Fair Play?
Introduced in 2011 by Uefa, European football’s governing body, it demands that clubs live within their means. Chiefly, spend within their income and not make substantial losses.
What the rules dictate?
The second phase of its implementation limits losses to €30 million (Dh136m) over three seasons. Extra expenditure is permitted for investment in sustainable areas (youth academies, stadium development, etc). Money provided by owners is not viewed as income. Revenue from “related parties” to those owners is assessed by Uefa's “financial control body” to be sure it is a fair value, or in line with market prices.
What are the penalties?
There are a number of punishments, including fines, a loss of prize money or having to reduce squad size for European competition – as happened to PSG in 2014. There is even the threat of a competition ban, which could in theory lead to PSG’s suspension from the Uefa Champions League.
Key products and UAE prices
iPhone XS
With a 5.8-inch screen, it will be an advance version of the iPhone X. It will be dual sim and comes with better battery life, a faster processor and better camera. A new gold colour will be available.
Price: Dh4,229
iPhone XS Max
It is expected to be a grander version of the iPhone X with a 6.5-inch screen; an inch bigger than the screen of the iPhone 8 Plus.
Price: Dh4,649
iPhone XR
A low-cost version of the iPhone X with a 6.1-inch screen, it is expected to attract mass attention. According to industry experts, it is likely to have aluminium edges instead of stainless steel.
Price: Dh3,179
Apple Watch Series 4
More comprehensive health device with edge-to-edge displays that are more than 30 per cent bigger than displays on current models.
MEDIEVIL%20(1998)
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Winners
Best Men's Player of the Year: Kylian Mbappe (PSG)
Maradona Award for Best Goal Scorer of the Year: Robert Lewandowski (Bayern Munich)
TikTok Fans’ Player of the Year: Robert Lewandowski
Top Goal Scorer of All Time: Cristiano Ronaldo (Manchester United)
Best Women's Player of the Year: Alexia Putellas (Barcelona)
Best Men's Club of the Year: Chelsea
Best Women's Club of the Year: Barcelona
Best Defender of the Year: Leonardo Bonucci (Juventus/Italy)
Best Goalkeeper of the Year: Gianluigi Donnarumma (PSG/Italy)
Best Coach of the Year: Roberto Mancini (Italy)
Best National Team of the Year: Italy
Best Agent of the Year: Federico Pastorello
Best Sporting Director of the Year: Txiki Begiristain (Manchester City)
Player Career Award: Ronaldinho
FIXTURES
Saturday
5.30pm: Shabab Al Ahli v Al Wahda
5.30pm: Khorfakkan v Baniyas
8.15pm: Hatta v Ajman
8.15pm: Sharjah v Al Ain
Sunday
5.30pm: Kalba v Al Jazira
5.30pm: Fujairah v Al Dhafra
8.15pm: Al Nasr v Al Wasl
Greatest Royal Rumble results
John Cena pinned Triple H in a singles match
Cedric Alexander retained the WWE Cruiserweight title against Kalisto
Matt Hardy and Bray Wyatt win the Raw Tag Team titles against Cesaro and Sheamus
Jeff Hardy retained the United States title against Jinder Mahal
Bludgeon Brothers retain the SmackDown Tag Team titles against the Usos
Seth Rollins retains the Intercontinental title against The Miz, Finn Balor and Samoa Joe
AJ Styles remains WWE World Heavyweight champion after he and Shinsuke Nakamura are both counted out
The Undertaker beats Rusev in a casket match
Brock Lesnar retains the WWE Universal title against Roman Reigns in a steel cage match
Braun Strowman won the 50-man Royal Rumble by eliminating Big Cass last
Spider-Man%202
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Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
GIANT REVIEW
Starring: Amir El-Masry, Pierce Brosnan
Director: Athale
Rating: 4/5
UAE currency: the story behind the money in your pockets
EA Sports FC 26
Publisher: EA Sports
Consoles: PC, PlayStation 4/5, Xbox Series X/S
Rating: 3/5
HIJRA
Starring: Lamar Faden, Khairiah Nathmy, Nawaf Al-Dhufairy
Director: Shahad Ameen
Rating: 3/5
Company Profile
Company name: Yeepeey
Started: Soft launch in November, 2020
Founders: Sagar Chandiramani, Jatin Sharma and Monish Chandiramani
Based: Dubai
Industry: E-grocery
Initial investment: $150,000
Future plan: Raise $1.5m and enter Saudi Arabia next year
Company profile: buybackbazaar.com
Name: buybackbazaar.com
Started: January 2018
Founder(s): Pishu Ganglani and Ricky Husaini
Based: Dubai
Sector: FinTech, micro finance
Initial investment: $1 million
