PROSPECTS

Editorial

A crisis of self identity

Geordie Kidston, Head of Research

David Cameron chose to offer the British electorate a vote on their future with a Europe that seems to be rapidly unravelling. Europe itself appears to be groping for an alternative to the failed conceit of a United States of Europe. Its edifices and core principles are failing under the weight of refugees from all points of the compass as well as war torn Iraq and Syria where malevolent external powers are waging proxy wars based on the deep-rooted Sunni-Shia divide.

Guest editorial

The Changing Shape of European State Security

The world seems very bleak at present, and that only includes the threats that are known. Vladimir Putin has used covert ‘hybrid’ force to seize Crimea and eastern Ukraine, and unarmed means, including energy policy, the media, and funding political clients, to subvert European unity.

Economic focus

Should we stay or should we go?

It is a once in a lifetime opportunity and one that will dominate the news until the summer. With MPs, business and commentators seemingly split on which way to vote, we asked economist Neil MacKinnon to sum up his thoughts.

Collectives commentary

The Pursuit of all Weather Investing

Arabella Cecil, Chief Investment Officer

BACIT Limited is an investment trust with two very specific aims: to deliver superior investment returns via a multi-manager approach to long-only and alternative investing and, secondly, to contribute to the UK’s leading research centre into cancer treatments, the Institute of Cancer Research. Here Arabella Cecil explains why an alternative approach to investing might be considered in today’s disrupted markets.

Stock in focus

Diageo

Geordie Kidston, Head of Research

Diageo is a major international distributor of spirits and a significant brewer of beer, primarily Guinness. It has a strong international distribution capacity and brand profile. Premium spirits are underpenetrated globally and Diageo should deliver secure and consistent growth as the world continues to shift from locally sourced spirits to Western style liquors.

General interest

Shakespeare's 400 years

Tei Williams, Propeller

This year marks the 400th anniversary of William Shakespeare’s death – an event that will be celebrated across the country. Tei Williams, of Propeller, an award-winning, all-male Shakespeare company which seeks to find a more engaging way of expressing Shakespeare, reviews the variety of celebrations of the world’s greatest playwright.

Equity prospects

Amec Foster Wheeler

Equity prospects

Royal Dutch Shell

Equity prospects

Hunting

Equity prospects

Shaftesbury

Equity prospects

In this issue:

Bond focus

Peer to peer lending

In the current low yield environment, some investors have been looking for an alternative. Here, John Royden, Head of Fixed Income Research at JM Finn & Co, explores the growing online P2P market.

Can negative interest rates work?

Andy Haldane, Chief Economist of the Bank of England, has recently flagged the real possibility of a negative interest rate strategy. John Royden, Head of Fixed Income Research, explores what this really means for the economy.

Independent view

Are you buying a second home?

The Government has announced an additional rate of stamp duty land tax (SDLT) adding 3% to existing rates where a second residential property is purchased. Patricia Milner, co-head of Withers Worldwide Wealth Planning practice, explains the complex detail that awaits new purchasers.