Vol 32 - Go Your Own Way
- Ann Yu
- Sep 7
- 6 min read
September 7, 2025
🎉 Summer break is officially over, and Jadewell Family Office Weekly Newsletter is back in action!
While we’ve taken a pause from publishing the newsletter, our social media channels have remained active throughout the summer. Below, we’ve curated a few Chinese posts that remain highly relevant to current market conditions — we invite you to take a look.
📢 We’re also honored to have been invited to speak at a Family Office Seminar jointly hosted by The Hong Kong University of Science and Technology and CFA Society Hong Kong on Sep 26 (Friday).
As one of the panel speakers, we’ll be sharing insights on building effective family office investment strategies, as well as our observations on the emerging generation of family office talent. Event Details @ CFA Society HK
What's in this week's newsletter?
Over the past few weeks, we have been on a whirlwind tour, meeting with fund managers across various sectors to help our clients build the most tailored investment portfolios possible 🧳📈.
But here’s the real question: Are these “institutional-style” investment proposals truly suitable for private clients? 🤔And when choosing a fund, what should you really be paying attention to? We break it down.
2️⃣ Summer Social Media Highlights
We promise—we weren’t slacking off this summer! ☀️💼
Our social media channels have been buzzing with fresh, original investment insights. Here are a few standout posts worth revisiting:
🥷 What is Bond Vigilantes?
Recently, long-term government bond yields in the UK, France, Japan, and the US have surged as a result of a frantic sell-off by bond investors. What exactly is going on? 👉 Facebook / IG
💥 Trump vs. the Fed?
How are U.S. interest rates actually decided? We unpack the political dynamics inside the Federal Reserve. 👉 Facebook / IG
🐃 Ever heard of the “Global Water Buffalo”?
No, not the farm animal. It’s a metaphor for a global bull market driven by liquidity. 👉 Facebook / IG
🕵️♀️ The Fear of Massive Underperformance Is Real!
Nearly 70% of U.S. actively managed equity funds have underperformed the major index ETFs like SPY or VOO this year. Is rational portfolio management losing ground to retail investors’ fearless buying sprees? 👉 Facebook / IG
📲 Follow us on Facebook and Instagram to stay ahead of the curve with the most insightful (and occasionally cheeky) market commentary!
Insights from Our Fund Manager Research
At Jadewell Family Office, one of our most sought-after services is helping clients discover, evaluate, and connect with fund managers across a wide range of investment strategies.
💡 Here’s a common scenario as an example:
A client wants to increase exposure to Asian equities. But who’s the right manager for the job?
A nimble long/short hedge fund?
A pure long-only fund focused on fundamentals?
A tech fund specializing in the semiconductor supply chain?
Or a diversified fund that spans multiple sectors?
With so many options, it’s easy to feel overwhelmed. That’s exactly where we come in.
🧭 Our Process
1️⃣ We start by reviewing the client’s current holdings and investment objectives.
2️⃣ Then we carefully match them with fund managers whose strategies align with client's goals.
3️⃣ Finally, we arrange direct meetings so clients can personally assess:
✔️ Investment philosophy and culture
✔️ Risk management framework
✔️ The manager's actual trading experience and how he/she handles failures
Armed with this insight, clients can make informed, confident decisions about where to invest. ✨
🤫 Why This Sets Us Apart
Most multi-family offices or private banks rarely offer this level of transparency. Why? Because once a client is introduced to a fund manager, they might bypass the intermediary and invest directly - cutting out the middlemen and the associated commission costs.
But at Jadewell Family Office, we've always operated on a zero-commission model.
That means our only priority is the client’s best interest. We believe in full transparency and empowering clients with the knowledge they need to make smart, strategic choices.
Over the past few weeks, we’ve been on a fast-paced tour with our clients, meeting with a range of fund managers across different firms. From these conversations, two key insights stood out:
1) Is the "Institutional Approach" Really What Private Clients Want?
Many fund managers love to emphasize their use of an Institutional Approach - a structured investment framework often used by large institutions. The underlying message? “If it’s good enough for the big players, private clients should follow suit.” 💼
But here’s the catch: What exactly is the Institutional Approach? There’s no universally accepted definition. 🤔
In practice, it often boils down to performance relative to a benchmark.
For example, in 2022, the S&P 500 dropped nearly 20%. If a fund manager’s portfolio only fell 15%, institutional investors might applaud the result—after all, it beat the benchmark.
But for private clients, a 15% loss still feels like… well, a loss.
💬 So What Do Private Investors Really Care About? Spoiler alert: It’s not just about outperforming an index.
Private investors tend to prioritize:
🔒 Stable returns
📉 Risk control
📈 Confidence in long-term asset allocation
Sure, a portion of their portfolio might be allocated to higher-risk, higher-reward strategies. But when it comes to core holdings, consistency and peace of mind are key.
2) Lock-Up Periods: Smart Strategy or a Fancy Handcuff?
Many funds love to include a lock-up period - a clause that restricts investors from withdrawing their money for a set time.
The rationale? They’ll tell you it’s all about long-term investing, à la Warren Buffett.
Some even throw in dramatic charts showing how missing just a few of the market’s best-performing days could drastically reduce your long-term returns. 📉📊
💡 But let’s be real: for private clients, liquidity isn’t a luxury - it’s a necessity.
🏄 When markets are calm, long-term investing feels like common sense.
🌊 But when the waves get choppy - think 2008, 2015, 2022 - very few investors were calmly saying, "Ah yes, this rollercoaster volatility is exactly what I signed up for." In fact, I’ve never met one.
In addition, unless you’re sitting on gigantic amount of wealth that you’ll never need to touch, chances are you’ll want access to your capital when life throws a curveball. 🛟
🤷♀️ And here’s the kicker: Some funds invest in highly liquid assets - stocks, bonds, ETFs - yet still insist on locking up your money for years. Why? We’re not entirely sure.
We’ve gathered many more insights from our recent research - but with limited space in this week’s newsletter, we’ll have to save those stories for another time.
If you're an investor yourself, have you spotted any of these fund terms that deserve a second look?
📞Why not connect with Jadewell Family Office today - we’d be happy to help you review your portfolio holdings and make sure your investments are aligned, transparent, and working for you. 🚀
Key Events to Watch in the Week Ahead:
US - Eco Data | Sep 11 (Thu) - US CPI (August) |
Other Major Events | Sep 8 (Mon) - Japan 2Q GDP, French Parliamentary Confidence Vote Sep 9 (Tue) - Apple Product Launch Event Sep 11 (Thu) - ECB Rates Decision |
About Jadewell Family Office
Jadewell is committed to offering proactive, customized services akin to a “single-family office,” yet within the ease of a “multi-family office” environment.
Ann Yu
Co-Founder and CEO
Jadewell Family Office
FOR INSTITUTIONAL & PROFESSIONAL CLIENTS ONLY – NOT INTENDED FOR RETAIL CUSTOMER USETHESE ARE NOT STOCK OR PRODUCT RECOMMENDATIONS
This document is intended for informational purposes only. It should not be considered as advice or a recommendation for any specific investment product, strategy, plan feature, or any other purpose in any jurisdiction. It is educational and does not represent a commitment from Jadewell Family Office to participate in any mentioned transactions. Any examples used are generic, hypothetical, and for illustration purposes only.
This material is insufficient to support an investment decision and should not be relied upon to evaluate the merits of investing in securities or products. Users should independently assess the legal, regulatory, tax, credit, and accounting implications, and work with their own financial professional to determine if any mentioned investment is appropriate for their personal goals. Investors should ensure they have all relevant information before making any decisions.
Any forecasts, figures, opinions, or investment techniques and strategies provided are for informational purposes only. They are based on certain assumptions and current market conditions and are subject to change without prior notice.
All information presented herein is considered to be accurate at the time of production, but no warranty of accuracy is given and no liability in respect of any error or omission is accepted.
It should be noted that investment involves risks, the value of investments and the income from them may fluctuate in accordance with market conditions and taxation agreements and investors may not get back the full amount invested. Both past performance and yields are not reliable indicators of current and future results.
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