Thomas Miller Investment Experts Deliver Investment Seminar
- Date: 25/05/2012
Investment experts from Thomas Miller Investment (TMI) delivered the latest in a series of Investment Seminars, held at the Claremont Hotel in Douglas on the 22nd May 2012.
Sue Preskey, 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, Carolyn Gelling, Senior Portfolio Manager for Thomas Miller Investment (Isle of Man) Limited and Devesh Parekh, Portfolio Manager for Thomas Miller Investment Ltd.
In the first presentation of the morning, Mr Oladimeji reviewed the macroeconomic backdrop in the US, UK, Euro-Zone and Emerging Markets. In his presentation Mr Oladimeji stated that the US economy should continue to perform better than other major developed economies. Nevertheless, the pace of growth in the US is likely to remain modest. On the UK economy, he said:
“Even before the new recession was confirmed, it was evident that the pace of the economic recovery in the UK remains exceptionally weak both in an absolute sense and relative to its Developed Market peers.”
Rounding up his presentation, Mr Oladimeji outlined Thomas Miller Investment’s financial market outlook and investment strategy. He concluded that while the weak macroeconomic backdrop and elevated risk aversion should continue to support government bonds in the short term, Developed Market government bonds do not represent good value from a longer term investment perspective. He also noted that shorter term indicators such as investor sentiment and momentum continue to suggest caution in equities. However from a longer term perspective, valuations remain supportive of equities versus bonds.
Carolyn Gelling then looked at the role of alternative investments within a diversified investment portfolio. She demonstrated where alternative investments can help to increase returns as well as reduce volatility, but did remark that these assets are not without their risks. To combat these risks, Thomas Miller Investment adopts a conservative approach by carrying out a detailed due diligence process and ensuring appropriate allocation according to client circumstances and objectives.
Continuing the theme of alternative investments, Devesh Parekh spoke more specifically about hedge funds. Mr Parekh highlighted the benefits of hedge funds and spoke about Thomas Miller Investment’s strategy for the management of hedge funds. He outlined an innovative process which includes a unique 3 sector approach (utilising Fundamental, Macro and Protection strategies), working with smaller managers to gain greater transparency and increased access to the Managers, as well as a systematic rebalancing of the funds to ensure regular profit taking.
Thomas Miller Investment was established over 30 years ago and manages assets for insurance mutuals, charities, pension schemes, governments and private clients.