Thomas Miller Investment delivers Investment Briefing Seminar - Isle of Man, November 2011
Investment experts from Thomas Miller Investment (TMI) delivered the latest in a series of Investment Seminars to an audience of over 60 guests at the Claremont Hotel in Douglas on the 17th November 2011.
David Thomas, Director of Thomas Miller Investment (Isle of Man) Limited, welcomed guests and introduced the speakers who were Abi Oladimeji, Investment Strategist for Thomas Miller Investment Ltd, and Andrew Taggart, Senior Portfolio Manager for Thomas Miller Investment (Isle of Man) Limited.
In the first presentation of the day, Mr Oladimeji reviewed the economic situation in the US and the UK as well as providing a snapshot of the Euro-zone’s financial crisis. In his presentation Mr Oladimeji highlighted that the odds of a new recession in the US, UK and the Euro-zone are higher than they have been at any time since 2009. He said:
"History shows that the sensitivity of economic activity to negative shocks varies across the economic cycle. At this juncture, the crucial point to note is that the current phase of the global economic cycle represents a window of vulnerability. Consequently, over the next few months, the developed market economies will do well to avoid another negative shock of the magnitude of the ‘Arab Spring’ (which led to a sharp spike in the price of oil) or the natural disaster in Japan (which led to significant supply disruptions). Arguably, any such negative shock would represent a sufficient (if not necessary) condition for renewed recessions in the major developed economies."
Rounding up his presentation, Mr Oladimeji emphasised the importance of maintaining a great deal of tactical flexibility in this current market.
Andrew Taggart, Senior Portfolio Manager, lightened the mood and discussed the performance of different Asset Allocation Strategies over the short, medium and long term. In particular Mr Taggart noted that UK investment returns over the last 3 years had not been as bad as the economic and monetary headlines might lead one to believe, though each year certainly brought quite different risk and return trade-offs. It was also shown that in volatile periods a balanced approach did not just help to mitigate risk, but also could enhance returns.
David Thomas, Director of Thomas Miller Investment (Isle of Man) Limited was delighted to host the Seminar and thanked guests for their attendance and continuing support. He commented, ”I have been in the investment industry for over 35 years but I confess that the current period ranks highly amongst the most unpredictable and volatile markets I have experienced. This includes 2008/early 2009 as, at least then, equity markets seemed to be headed in a downward direction, whereas current markets are moving up and down in ranges of up to 4% on a regular basis. At TMI we recognise the importance of maintaining regular contact with all of our clients and business partners, especially during these unsettled times. This was the third seminar held on the Isle of Man and it was a pleasure to welcome those that had attended before, as well as those who were attending for the first time”.
Thomas Miller Investment was established over 30 years ago and provides boards, investment committees, trustees and private individuals with a focussed range of investment management services.