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The investment solutions that clients are looking for (and need)
Along the same lines, Pedro Lobo highlights how alternative investments, as a whole, considering the various aspects - private equity, venture capital, real estate, etc. - can remain on the list of options for clients now and in the future. "They are excellent vehicles for protecting against inflation. Typically, they are contracts against inflation, whether in logistics, real estate, or in many other areas. Then there is the issue of commitment: the client's commitment is total, because in the case of Bankinter there is no vehicle that is structured within this area, in which we are not the main investor, with equal risk and return, as any client”.
The same is true at Banco Carregosa. Bruno Minoya Perez reports that over the last few years they have been developing a wider range of alternative products, feeling that the commitment that the entity places on these investments is essential. "Clients feel that we are not managing just for third parties, we are also managing for ourselves because we have the entity's own capital invested there”, he indicates.
Tax efficiency: a must-have
Recalling the recent change made by the government regarding the taxation of long-term investments, Ana Nobre noted what this movement may bring in the future. "We may see some changes in the market, possibly even in terms of the hegemony of unit-linked investments. We will see how clients and the industry itself will accommodate these points of tax optimization, in which the longer the investment holding period, the greater the tax benefit. The legislator clearly wants to push clients towards medium and long-term savings”, she stressed.
In fact, tax efficiency is precisely what António Luna Vaz summarizes as the key point of the client’s needs. "In general, a traditional private banking client expects a return of between 4% and 5%, regardless of the level of interest rates. But the issue of tax efficiency is increasingly relevant in the investment decision-making process by clients”, he reveals. In this sense, he stresses that at BPI, all solutions that can be offered to the client "are never taken into account without integrating the issue of tax efficiency”. The professional also reports that they have created ways for the client to intervene in the management of their assets, but within a space in which such tax efficiency is not neglected, as a response to the needs of clients in the shared management of their investments.