Every year in late June, the European fund management industry congregates in Monaco on the French Riviera for a conference called the Fund Forum. It’s an event that offers the typical conference mix of speakers and panels, various exhibitors and service providers, and if you look really closely among the 1500 participants that attend over two days, even an investor here and there. if you’re not sure who they are, just look for the poor guy who’s constantly encircled by other people…

There’s of course a lot of conferences like Fund Forum happening in the financial industry throughout the year, but there’s only this one taking place in Monaco in the early summer, thus allowing people to book a business trip to the south of France, party on for two days and then pretty much go on holiday. I haven’t attended the Fund Forum for many years but did so this year, notably to check if things were still the same. After two days of exceedingly hard work, I can safely report they are!

As most of you know, Monaco is located on the French Riviera but is its own country, a so called Principality with Prince Albert as the hereditary head of state. Most known for its casino and F1 GP, Monaco sprawls over a rocky, coastal formation and is the second smallest country in the world, only bigger than the Vatican. The fact that around 37.000 people squeeze in on two square kms however also makes it the world’s most densely populated country – and one of the richest.

Monaco has neither income nor fortune tax, which together with more policemen and video cameras per capita than anywhere else in the world has also made it one of the most secure places to live in, and hereby a favourite playground for the ultra rich. This has in turn lead to some of the world’s highest property prices. Thinking of a three-bedroom penthouse with a large terrace and a nice sea view? That’ll be between EUR 15-25m, thank you very much. Then again, prices have known only one direction for longer than anyone can remember, and they will most likely continue to do so.

Of course, the rich and beautiful who live in Monaco tend not to spend all of their hard owned dollars on real estate, but keep some to get a decent boat and a nice car stable as well. What we common people think of as boats does however have little connection to what goes on in Monaco, and if there was a ranking of the most crowded ports in the world, Monaco would certainly be high on that list as well. And then, there’s of course the cars – and boy are they worth your while!

I wrote a while ago about the demise of traditional car shows, no longer being as grand as they used to be. If you’re looking for an alternative, let me suggest walking around a day or two in Monaco. It’s practically impossible to do so without having taken in a larger number of supercars than anywhere else, some of which you’ve seen before and some you didn’t know existed. And next to that, there’s of course a number of more or less tasteful ultra luxury sedans and SUV’s as well.

As a good friend at the conference (and also reader of this blog, good man!) pointed out to me, what makes this so hilarious is that, as you’ve guessed given its limited size, Monaco is small, very small. It’s therefore really difficult to think of something less fitting on its streets than the huge (and still as ugly) Rolls Royce Cullinan, of which you see more than any other SUV. Of course the climate in Monaco is also a very pleasant one, with temperatures rarely going under 10 degrees C in winter, so the whole point of a four-wheel drive SUV is difficult to see.

That’s of course unless you leave Monaco as theoretically, you could go skiing in the southern Alps in less than two hours in winter. I’m sure some of the Cullinan or Urus people do, but I also know many don’t, as when you’ve spent too much time in Monaco, the world outside its borders starts feeling very dangerous indeed. And so whether it’s luxury SUV’s or supercars, many of them spend their days in a garage or on distances rarely exceeding two kilometres and at speeds of no more than 50 km/h, between the restaurants, private clubs and (botox) bars. Mostly not driven by the owner, but rather the private driver.

If you’re in the south of France, make sure to make Monaco part of your list to visit. Enjoy a drink on the terrace of the Café the Paris with a perfect view of the greatest car park in the world, in front of the hotel by the same name on the other side of the square. Stroll down to the beach and pass by the Ferrari, Rolls and McLaren dealers, showcasing both new and old beauties. And if you’re lucky enough to be in the market for a supercar, definitely consider getting one in Monaco, as the odds are that it’s been used very sparsely in its previous life!