Generated by All in One SEO v4.9.10, this is an llms.txt file, used by LLMs to index the site. # James Hambro ## Sitemaps - [XML Sitemap](https://www.jameshambro.com/sitemap.xml): Contains all public & indexable URLs for this website. ## Posts - [News](https://www.jameshambro.com/news/) - [Reflections from London Climate Action Week 2026: Building Resilience in a Changing World](https://www.jameshambro.com/reflections-from-london-climate-action-week-2026-building-resilience-in-a-changing-world/) - As London experienced one of its warmest Junes on record, more than 75,000 policymakers, business leaders, investors, academics and civil society representatives gathered for London Climate Action Week (LCAW) 2026, which hosted over 1,400 events. United Nations Secretary-General António Guterres captured the mood, remarking that “London isn't just calling, it's cooking.” It was a powerful - [Market Commentary 1st Quarter 2026](https://www.jameshambro.com/market-commentary-1st-quarter-2026/) - DÉJÀ VU ALL OVER AGAIN The View in Short A Familiar Shock to a Constructive Backdrop The year began with improving economic momentum. Falling interest rates, sustained AI related capital spending and early signs of industrial recovery were setting the stage for a broadening of market returns. This outlook was abruptly disrupted at the end - [June 2026 Investment Update](https://www.jameshambro.com/june-2026-investment-update/) - The past month summed up The potential end of hostilities in the Middle East alongside ongoing AI euphoria is a heady cocktail for markets. Beware rising inflation though. The rationale Our core thesis has evolved over the past few weeks and months from one centred on a relatively benign inflation and interest rate outlook to - [May 2026 Investment Update](https://www.jameshambro.com/may-2026-investment-update/) - The past month summed up With businesses doing their best to avoid war-induced disruption, and signs of substance to the artificial intelligence (AI) boom, we’re ok for now. The rationale Our central view remains that the AI-revolution is driving the US economy and adding impetus to an infrastructure investment cycle that has the capacity to - [April 2026 Investment Update](https://www.jameshambro.com/april-2026-investment-update/) - The past month summed up The oil shock of the Iranian war vies with the Artificial Intelligence (AI) technology boom to be the dominant theme of the market – at present AI driven positivity is keeping markets higher. The rationale Our central view remains that the AI-led boom alongside the structural shift in global trade - [March 2026 Investment Update](https://www.jameshambro.com/march-2026-investment-update/) - The past month summed up The Iran war forces markets to shift focus from the new economy – artificial intelligence (AI) – to the old, in the form of oil. The rationale Our central thesis has been that the AI-led boom had begun to broaden to a wider industrial manufacturing recovery both in the US, - [February 2026 Investment Update](https://www.jameshambro.com/february-2026-investment-update/) - The past month summed up The ramifications of the AI revolution are broadening out, with a renewed assessment of not only the winners but also increasingly the losers. The rationale Our core view remains the same – namely that the global economy, led by the US, remains healthy and growth is stable providing sound foundations - [January 2026 Investment Update](https://www.jameshambro.com/january-2026-investment-update/) - The past month summed up Behind all the geopolitical uncertainty, the fundamentals of the global economy are sound… for now! The rationale Our core view remains that both the global economy, with the US at the vanguard, and corporations remain in a healthy state, providing a solid foundation for investors. The question is where we - ['James Hambro eyes US market and fresh hires after stake sale' — Citywire](https://www.jameshambro.com/james-hambro-eyes-us-market-and-fresh-hires-after-stake-sale-citywire/) - Andy Steel says Bixby's investment marks a major step in recycling equity to more junior staff, while also announcing a new hire in Leeds. Read Citywire's article here. - [Market Commentary 4th Quarter 2025](https://www.jameshambro.com/market-commentary-4th-quarter-2025/) - THERE'S MORE TO MARKETS THAN TARIFFS AND AI The View in Short Policy Shifts and Market Dynamics 2025 was a year of headline comebacks and resilience. Despite significant disruption and a deepening trade conflict, global markets and economies displayed remarkable resilience. Feared recessions and inflationary surges did not materialise, and most markets made progress. Narrow - [Market Commentary 3rd Quarter 2025](https://www.jameshambro.com/market-commentary-3rd-quarter-2025/) - CALMER WATERS BUT NOT YET CLEAR SKIES The calmer waters we anticipated three months ago have largely materialised, allowing asset markets to chart a steady course through the summer as turbulence subsided. The capacity for political dynamics to shock has proven much reduced, particularly as to date they have shown few signs of blowing the - [December 2025 Investment Update](https://www.jameshambro.com/december-2025-investment-update/) - The past month summed up Did someone mention inflation? The rationale Our core view remains that the US economy is in a relatively healthy state and could strengthen next year, while corporate profits continue to grow, meaning that there are few signs of an economic reversal. And yet, even with this benign backdrop fears are - [November 2025 Investment Update](https://www.jameshambro.com/november-2025-investment-update/) - The past month summed up Markets don’t always look on the bright side of life. Despite strong earnings and falling rates, fears of AI exuberance and a soft patch in the US economy means we are vulnerable to a reset. The rationale Our core view is unchanged from the month before: the US economy continues to - [October 2025 Investment Update](https://www.jameshambro.com/october-2025-investment-update/) - The past month summed up Markets have continued to surf the wave of AI enthusiasm, but beyond the barrelling tech revolution there are crumbs of concern that prompt us to adjust positioning. The rationale While our core view remains essentially positive given a growing economy operating in tandem with huge investment related to the artificial - [September 2025 Investment Update](https://www.jameshambro.com/september-2025-investment-update/) - The past month summed up A softer labour market, a nudge up in inflation, but little to derail enthusiasm about the prospects for an artificial intelligence driven transformation of industry. The rationale Our core view remains that the Economies continue to grow with the US at the vanguard, even given still toasty inflation and against - [Autumn Budget 2025 (Professional Advisers)](https://www.jameshambro.com/autumn-budget-2025-professional-advisers/) - Fiscal drag race This was no ordinary Budget, at least for those born in the last fifty years. The lengthiest of build ups has been beset by an unprecedented level of speculation, kite-flying and a prevailing sense of economic doom. With downgrades to productivity, shrinking fiscal headroom, a frozen property market and anaemic growth forecasts - [Autumn Budget 2025](https://www.jameshambro.com/autumn-budget-2025/) - Fiscal drag race This was no ordinary Budget, at least for those born in the last fifty years. The lengthiest of build ups has been beset by an unprecedented level of speculation, kite-flying and a prevailing sense of economic doom. With downgrades to productivity, shrinking fiscal headroom, a frozen property market and anaemic growth forecasts - [Partnership Update](https://www.jameshambro.com/partnership-update/) - James Hambro & Partners announces minority investment from Bixby Wealth Solutions James Hambro & Partners (“JH&P”), a leading independent UK wealth management business, is delighted to announce that Bixby Wealth Solutions (“Bixby”), an arm of Moontower Group, has made a minority investment in the partnership. As part of this investment, Bixby is acquiring an equity - [August 2025 Investment Update](https://www.jameshambro.com/august-2025-investment-update/) - The past month summed up Beep beep beep! Amid relief that tariffs haven't sunk the economy and increasing confidence that the AI revolution will extend far into the future, some overexuberance alarms are ringing. The rationale Our central view remains that economies continue to make progress but within a slightly elevated inflationary framework. While major - [Market Commentary 2nd Quarter 2025](https://www.jameshambro.com/market-commentary-2nd-quarter-2025/) - TARIFFS STILL ON THE MENU WILL MARKETS STOMACH THEM OR ARE WE DUE ANOTHER BOUT OF INDIGESTION? Even by the standards of recent years the past quarter has been a blockbuster. The headline act was the tariff saga that began with liberation day on 2nd April, which reached its zenith as Chinese reciprocity drove tit-for-tat - [July 2025 Investment Update](https://www.jameshambro.com/july-2025-investment-update/) - The past month summed up Big and beautiful? Maybe not, but amid the chaos there are positive aspects to President Trump's policies. The rationale Our central view is that the Trump administration has injected increased uncertainty into financial markets that undermine an otherwise positive trajectory and has slowed the pace of interest rate cuts. However, - [June 2025 Investment Update](https://www.jameshambro.com/june-2025-investment-update/) - The past month summed up Markets have found an equilibrium of sorts, but it’s too early to sound the all-clear given the reverberating global upheaval. The rationale Our view remains that the economic and market outlook has become more subdued given a US presidency prone to whipsaw decision-making that can in a moment completely change - [Investment Update May 2025](https://www.jameshambro.com/investment-update-may-2025/) - The past month summed up The genie of tariffs cannot easily just be put back in the bottle – the resulting dent to the US’s reputation means we are looking for opportunities beyond the world’s largest economy. The rationale Our core view is that the economic and market outlook has deteriorated as a result of - [Market Commentary 1st Quarter 2025](https://www.jameshambro.com/market-commentary-1st-quarter-2025/) - NEW WORLD ORDER The fallout from the extraordinary set of tariffs introduced by President Trump on 2nd April will continue to dominate the immediate market environment. The initially proposed rates have the potential to push the global economy into an unnecessary recession. The good news is that, unlike previous crises, there are no major structural - [Investment update April 2025](https://www.jameshambro.com/investment-update-april-2025/) - The past month summed up All change. Donald Trump's on-off tariff plans discombobulated businesses and markets, see-sawing equity valuations and Treasury yields and validating our long-held belief that it is better to prepare for the future rather than to attempt to predict it. The rationale Our core view is that the economic and market outlook - [March 2025 investment update](https://www.jameshambro.com/march-2025-investment-update/) - The past month summed up Yes, changing trade policy by the hour can unsettle markets as much as it upsets your allies. The rationale The US came into 2025 in a healthy state and our central view was that this would continue as employment remained solid, inflation stable and interest rates falling, albeit slowly. The - [As we reach escape velocity, jobs hold the key – Q2 Commentary](https://www.jameshambro.com/as-we-reach-escape-velocity-jobs-hold-the-key-q2-commentary/) - Global markets have continued their impressive run, buoyed by confirmation of the effectiveness of vaccines, the steady inoculation of populations and impressive economic indicators as we lap the economic paralysis of 2020. The touch paper lit by the vaccine announcements of November last year has burned through to ignite economic lift-off, just as some of - [January 2025 investment update](https://www.jameshambro.com/january-2025-investment-update/) - The past month summed up The US economy is humming and the new administration could heat it up further, making expected interest rate cuts less likely. Heightened uncertainty can reveal investment opportunities, especially for active investors. The rationale Our central view is that the US economy is in a healthy state but that there are - [February 2025 investment update](https://www.jameshambro.com/february-2025-investment-update/) - The past month summed up A cheeky Chinese artificial intelligence upstart upended assumptions about winners in the technological space race, with an even broader lesson for investors. The rationale Our central view remains that a healthy US economy remains the driver of global growth and is still the destination for some of the most exciting - [December 2024 investment update](https://www.jameshambro.com/december-2024-investment-update/) - The past month summed up With the US stock market and economy roaring ahead, is the world becoming a little bit unbalanced? The rationale Our central view remains that inflation has stabilised, albeit at higher levels than before COVID, and that the US economy is in robust health. Markets have digested the news of Donald - [Market Commentary 4th Quarter 2024](https://www.jameshambro.com/market-commentary-4th-quarter-2024/) - THE ELEPHANT IS BACK IN THE ROOM 2024 was described as the biggest exercise in democracy with 40% of the global population heading to the polls. Those exercising their constitutional rights voted decisively for change with incumbents losing from Paris to Washington. While markets tend to be more concerned with profits than politics, Donald Trump's - [November 2024 investment update](https://www.jameshambro.com/november-2024-investment-update/) - The past month summed up The election of Donald Trump probably means a stronger US economy in the short-term but could present deficit and inflationary issues in the longer term. The UK budget failed to persuade markets that it would deliver either growth or fiscal discipline. The rationale Our central view remains that inflation has - [The US Presidential Election - what next?](https://www.jameshambro.com/the-us-presidential-election-what-next/) - The US Presidential & Congressional elections delivered a resounding victory for Donald Trump as he won the Presidency, popular vote and the Republicans won control of the Senate. “This is going to be the golden age of America, which will allow us to make America great again” – Donald J Trump, the 47th President of - [US Election Update 2024 (Professional Advisers)](https://www.jameshambro.com/us-election-update-2024-professional-advisers/) - For UK citizens and taxpayers, focus has been firmly on the UK parliament and the Labour government’s first budget set to be delivered by Rachel Reeves on 30th October. However, of far more consequence for both markets and geopolitics is the US presidential election, just one week away. The campaign has been one of the - [US Election Update 2024](https://www.jameshambro.com/us-election-update-2024/) - For UK residents and taxpayers, focus has been firmly on the UK parliament and the Labour government’s first Budget delivered by Rachel Reeves on Wednesday 30th October. However, of far more consequence for both markets and geopolitics is the imminent US presidential election. The campaign has been one of the most abrasive and polarising on - [Autumn Budget 2024 (Professional Advisers)](https://www.jameshambro.com/autumn-budget-2024-professional-advisers/) - Summary Since Labour have entered office, their consistent message has been one of broken UK public finances and a need to fill a £22bn black hole in the budget. The government has been at pains to stress that taxes will have to increase and the burden of these will be on the wealthy. The first - [Autumn Budget 2024](https://www.jameshambro.com/autumn-budget-2024/) - Summary Since Labour have entered office, their consistent message has been one of broken UK public finances and a need to fill a £22 billion black hole in the budget. The government has been at pains to stress that taxes will have to increase and the burden of these will be on the wealthy. The - [Market Commentary 3rd Quarter 2024](https://www.jameshambro.com/market-commentary-3rd-quarter-2024/) - NAVIGATING CYCLES Introduction Two years ago, we outlined our belief that the world of tomorrow can be substantially better than the world of today. This was despite the backdrop of soaring inflation, falling financial markets and a tumultuous UK government. Indeed, progress rarely happens in a straight line. It requires enduring a litany of short-term - [October 2024 investment update](https://www.jameshambro.com/october-2024-investment-update/) - The past month summed up A half-point cut in US interest rates combined with better-than-expected economic data shifts the balance further in favour of a more positive soft-landing scenario. The rationale Our central view remains that higher interest rates have succeeded in slowing inflation without damaging the global economy and sending it into recession. The - [September 2024 investment update](https://www.jameshambro.com/september-2024-investment-update/) - The past month summed up The evidence still points towards a tapering of economic activity in the US though the debate continues as to whether this is the start of a deeper slowdown. The rationale Our central view remains as it has been all year: that higher interest rates have succeeded in slowing the economy - [August 2024 investment update](https://www.jameshambro.com/august-2024-investment-update/) - The past month summed up Markets shuddered momentarily in early August, a sign perhaps of increased concern that a slowdown may deepen into a recession. However, the fundamentals for the global economy and many companies continue to be pretty solid. The rationale Our central view remains that the interest rate hikes since 2022 have cooled - [July 2024 investment update](https://www.jameshambro.com/july-2024-investment-update/) - The past month summed up Strengthening signals that the economy is cooling will bolster the likelihood of policy makers being able to bring down interest rates before inducing a recession, while the UK now looks like a relatively safe fiscal haven. The rationale Our core view remains unchanged that a gradual cooling of inflation and - [Market Commentary 2nd Quarter 2024](https://www.jameshambro.com/market-commentary-2nd-quarter-2024/) - PREPARING TO LAND? Entering 2024, expectations were for an acceleration in corporate earnings, falling inflation and significant cuts in interest rates - 7 cuts being forecast from the US Federal Reserve alone. As we wrote in January, running into an Olympic year, the last mile on inflation would be the hardest. For interest rates to - [June 2024 investment update](https://www.jameshambro.com/june-2024-investment-update/) - The past month summed up The market and economic outlook continue to be positive, but some analysts are worrying that a slowdown is coming soon – still in the optimistic camp, we are ever watchful for any change in direction. The rationale Our central view remains that the global driver that is the US economy - [May 2024 investment update](https://www.jameshambro.com/may-2024-investment-update/) - The past month summed up US inflation is looking stickier than previously thought as the economy continues to boom, but the good news is that this growth seems to be spreading to more parts of the globe. The rationale Our core position remains that US inflation is decelerating as supply constraints ease and higher interest - [Market Commentary 1st Quarter 2024](https://www.jameshambro.com/market-commentary-1st-quarter-2024/) - A BRIGHTER OUTLOOK WARRANTS A MORE BALANCED APPROACH Our view in short 2024 has started well. Company updates have revealed broader-based growth alongside expectations that business momentum will accelerate through the year. The strong finish to 2023 reflected peaking interest rates and falling inflation. Recent moves have been driven by increasing confidence in the sustainability - [April 2024 investment update](https://www.jameshambro.com/april-2024-investment-update/) - The past month summed up The economy in the US is roaring ahead. But is the price for this buoyancy a delay to, or even an abandonment of, planned interest rate cuts? The rationale Our core position remains that higher interest rates in the US are having the desired effect of reducing inflation without sinking - [March 2024 investment update](https://www.jameshambro.com/march-2024-investment-update-2/) - The past month summed up The final push on lowering inflation is proving more of a challenge, prompting a slight change in our bond allocation. And while stock markets continue to be buoyant on the back of AI expectations, there’s too much froth and exuberance at present to see clearly who the ultimate beneficiaries will be. - [James Hambro & Partners expands the Partnership as assets grow to £6.2Bn](https://www.jameshambro.com/james-hambro-partners-expands-the-partnership-as-assets-grow-to-6-2bn/) - James Hambro & Partners (LLP) expands the Partnership as assets grow to £6.2Bn Jamie Hambro and the Partners of James Hambro & Partners LLP (JH&P) are delighted to announce the appointment of Gareth Jenkins, Financial Planner and Mark Richmond-Watson, Portfolio Manager to the Partnership. James Hambro & Partners Expands Leadership Team with Key Appointments James - [February 2024 investment update](https://www.jameshambro.com/february-2024-investment-update/) - The past month summed up Equity gains tapered and bond yields rose as inflation came in higher than expected in the US. We don’t expect the emergence from the elevated inflation/higher interest-rate environment to be straightforward — whether the economic landing proves soft or hard, the approach will have a fair amount of turbulence. Current - [January 2024 investment update](https://www.jameshambro.com/january-2024-investment-update-2/) - The past month summed up Positive sentiment helped propel both equities and bonds higher during December, with the market coalescing around the view that inflation had been tamed, leaving relatively little impact on the economy. The question therefore is what could challenge this upbeat scenario. Current positioning We have in recent weeks rebalanced our minor - [Market Commentary 4th Quarter 2023](https://www.jameshambro.com/market-commentary-4th-quarter-2023/) - OUTLOOK 2024: APPROACHING THE FINISHING STRAIGHT? 2023 defied gloomy predictions as markets bounced back from a terrible 2022. Central banks kept to their task, hiking interest rates to over 5% in the UK and US. The continued tightening in financial conditions did not lead to either a much-anticipated recession or much-feared financial accident. To date, - [December investment update](https://www.jameshambro.com/december-investment-update-2/) - The past month summed up After declines earlier in the quarter, both bonds and equities posted healthy gains over November as the market consensus settled on the likelihood of a softer landing for the US economy. This sentiment was bolstered by the Federal Reserve's more dovish stance on interest rates for 2024. Current positioning Our - [November investment update](https://www.jameshambro.com/november-investment-update-2/) - The past month summed up US bond yields climbed higher, temporarily breaching 5% for the first time in 16 years, before moderating in late October and early November. The surge in yields raised concerns around borrowing costs and, coupled with an uncertain earnings season, held back stock prices. Current positioning With yields at their most - [October investment update](https://www.jameshambro.com/october-investment-update-2/) - The past month summed up Bonds made the headlines with US benchmark yields rising to levels not seen for more than 15 years. The horrific terror attack in Israel and subsequent bombardment of Gaza risks escalating into a wider regional conflict with ramifications for the global economy. Current positioning The strong movement in bond yields - [Market Commentary 3rd Quarter 2023](https://www.jameshambro.com/market-commentary-3rd-quarter-2023-2/) - INVESTING THROUGH THE NOISE Humans have a natural tendency to reduce complex situations to simple stories. This makes us susceptible to being seduced by short-term narratives that portray an inevitable future in an uncertain world. In investments, this shows itself in thematic bubbles that inflate to the point that they burst. The COVID era has - [September investment update](https://www.jameshambro.com/september-investment-update/) - The past month summed up Stock markets dipped slightly over August, digesting the gains of the year during a notoriously quiet period for market volumes. Uncertainty still bedevils the outlook for the global economy, where tensions remain between a more benign and a more recessionary outcome. Current positioning Our positioning continues to lean towards caution, - [August investment update](https://www.jameshambro.com/august-investment-update/) - The past month summed up Stock markets continued with their gains as more investors were persuaded that the only way was up, even against a background of continued mixed news and strong historical evidence for a more stinging decline. Current positioning Our positioning allows us to be poised to take a directional move once fundamental - [July investment update](https://www.jameshambro.com/july-investment-update/) - The past month summed up Mixed messages in markets continue to give succour to those who believe an economic downturn is unlikely, with an attendant climb in some equity markets. While a deceleration of some sort is still the most likely outcome for us, there’s sufficient evidence to suggest that it may not be as - [Market Commentary 2nd Quarter 2023](https://www.jameshambro.com/market-commentary-2nd-quarter-2023/) - ANTICIPATING RECESSION: WILE E COYOTE OR WAITING FOR GODOT? Following a year to forget, investors and economists entered 2023 in near unanimous agreement that a recession was imminent. Even famously optimistic Wall Street strategists sounded a rare warning, predicting that the S&P 500 would end the year below where it started. High - [JH&P opens a Southwest office](https://www.jameshambro.com/jhp-opens-a-southwest-office/) - JH&P opens a Southwest office James Hambro & Partners (JH&P) is expanding its regional offering by opening an office in Bristol to service clients in the Southwest of England. This will be JH&P’s third regional office after the opening of Leeds in 2020 and Edinburgh in 2021. This demonstrates a continued drive to unlock regional - [June investment update](https://www.jameshambro.com/june-investment-update/) - The past month summed up An AI-driven rally in a narrow sector of US technology stocks belies the ongoing threat to equities from a rate-rising programme that has seen US levels advance from near zero to over 5% in just 15 months. Current positioning We are updating our portfolios to take account of where we - [May investment update](https://www.jameshambro.com/may-investment-update/) - The past month summed up Another US bank collapse provides further evidence of an economy starting to fray at the edges after a relentless rate hiking programme – the fastest in 40 years. Current positioning We have been preparing portfolios for turbulence that may arise as a result of monetary tightening. Our bond allocation has - [Rosie Bullard named in CityWire's Top 100 Wealth Managers in 2022](https://www.jameshambro.com/rosie-bullard-named-in-citywires-top-100-wealth-managers-in-2022/) - CityWire - [Billy Hughes speaks to CityWire on positioning through another banking crisis](https://www.jameshambro.com/billy-hughes-speaks-to-citywire-on-positioning-through-another-banking-crisis/) - CityWire - [Rosie Bullard on going on a bear hunt](https://www.jameshambro.com/rosie-bullard-on-going-on-a-bear-hunt/) - Find a Wealth Manager - [Andy Steel speaks to CityWire on positive growth in a year of turbulent markets](https://www.jameshambro.com/andy-steel-speaks-to-citywire-on-positive-growth-in-a-year-of-turbulent-markets/) - CityWire - [Charles Calkin on introducing your children to your wealth manager](https://www.jameshambro.com/charles-calkin-on-introducing-your-children-to-your-wealth-manager/) - Financial Times - [Charles Calkin discusses if it is time to reconsider annuities](https://www.jameshambro.com/charles-calkin-discusses-if-it-is-time-to-reconsider-annuities/) - Find a Wealth Manager - [Rosie Bullard speaks to Knight Frank on the key economic and investment trends for 2023](https://www.jameshambro.com/rosie-bullard-speaks-to-knight-frank-on-the-key-economic-and-investment-trends-for-2023/) - Knight Frank Wealth Report - WR Outlook 2023_FINAL - [Rosie Bullard speaks to Investors Chronicle on making your drawdown fund last into your 90s](https://www.jameshambro.com/rosie-bullard-speaks-to-investors-chronicle-on-making-your-drawdown-fund-last-into-your-90s/) - Investors Chronicle - [Rosie Bullard discusses the value of cash during times of high inflation](https://www.jameshambro.com/rosie-bullard-discusses-the-value-of-cash-during-times-of-high-inflation/) - [Market Commentary 1st Quarter 2023](https://www.jameshambro.com/market-commentary-1st-quarter-2023/) - INDUSTRIAL RENAISSANCE: A NEW ECONOMIC FOUNDATION Major events such as wars and pandemics have historically marked turning points in the economic environment. COVID-19 and the Ukraine war are likely to leave a similar legacy. The medium-term outlook for the industrial economy is clear. High inflation is a symptom of underinvestment. The cure is greater - [James Beck to join James Hambro & Partners](https://www.jameshambro.com/james-beck-joins-james-hambro/) - Experienced investment manager James Beck is to join James Hambro & Partners as a Partner. Beck joins after 10 years with Quilter Cheviot. He was a founding partner of Cheviot, responsible for managing portfolios on behalf of individuals, trusts, charities and pension funds. He also chaired the Quilter Cheviot Alternative Investments Committee and sat on - [Meet James Beck - alternative investments specialist](https://www.jameshambro.com/alternative-investment/) - James Beck joined James Hambro & Partners in 2017. Beyond his Partner and portfolio management roles, he has a specialist remit to identify and monitor alternative investment strategies designed to provide diversification and opportunity in client portfolios. The bull market has just entered its tenth year. Is now an important time to be considering alternatives? - [Market Commentary 4th Quarter 2022](https://www.jameshambro.com/market-commentary-4th-quarter-2022/) - A YEAR FOR TREADING CAREFULLY “My only question is who is our bigger enemy, Jay Powell or Chairman Xi” President Donald J Trump In 2022, Central Bankers didn’t simply cool the party by taking away the punch bowl. Faced with inflation rising to 40-year highs, they turned off the music, flicked on the lights and - [Charles Calkin looks at the complex rules when buying a property in Europe](https://www.jameshambro.com/charles-calkin-looks-at-the-complex-rules-when-buying-a-property-in-europe/) - Financial Times - [James Horniman on economic climate change](https://www.jameshambro.com/james-horniman-on-economic-climate-change/) - Findawealthmanager.com - [Charles Calkin on the pleasures and perils of owning a holiday homes overseas](https://www.jameshambro.com/charles-calkin-on-the-pleasures-and-perils-of-owning-a-holiday-homes-overseas/) - Findawealthmanager.com - [Gareth Jenkins on the new divorce rules taking out some of the sting of a split](https://www.jameshambro.com/gareth-jenkins-on-the-new-divorce-rules-taking-out-some-of-the-sting-of-a-split/) - Financial Times - [Charles Calkin on retirement village life: your own Thursday Murder Club?](https://www.jameshambro.com/charles-calkin-on-retirement-village-life-your-own-thursday-murder-club/) - Financial Times - [JH&P joins IIGCC Net Zero Stewardship toolkit development project](https://www.jameshambro.com/jhp-joins-iigcc-net-zero-stewardship-toolkit-development-project/) - IIGCC - [Mark Leach on the benefits of sitting tight](https://www.jameshambro.com/mark-leach-on-the-benefits-of-sitting-tight/) - Findawealthmanager.com - [Finalists for PAM Awards 2022](https://www.jameshambro.com/finalists-for-pam-awards-2022/) - The Wealth Net - [Charles Calkin on frozen tax allowances](https://www.jameshambro.com/charles-calkin-on-frozen-tax-allowances/) - Financial Times - [Sean Jones offers advice on navigating limits on pension savings that can trigger huge tax bills](https://www.jameshambro.com/sean-jones-offers-advice-on-navigating-limits-on-pension-savings-that-can-trigger-huge-tax-bills/) - The Daily Telegraph - [Aidan Butler speaks to Philanthropy Impact on how to future-proof multi-year funding](https://www.jameshambro.com/aidan-butler-speaks-to-philanthropy-impact-on-how-to-future-proof-multi-year-funding/) - Philanthropy Impact - [Rosie Bullard on The Future of Cryptocurrency: What if Bitcoin crashed to Zero?](https://www.jameshambro.com/rosie-bullard-on-the-future-of-cryptocurrency-what-if-bitcoin-crashed-to-zero/) - Bitcoin insider - [Jersey Finance Conference 2022: Rosie Bullard discusses the human element of International Wealth Planning](https://www.jameshambro.com/jersey-finance-conference-2022-rosie-bullard-discusses-the-human-element-of-international-wealth-planning/) - IFC Review - [Cost of Living: Robert Seifert speaks to CityWire on tweaking portfolios](https://www.jameshambro.com/cost-of-living-robert-seifert-speaks-to-citywire-on-tweaking-portfolios/) - CityWire - [Charity sector advisers need strong ESG credentials](https://www.jameshambro.com/charity-sector-advisers-need-strong-esg-credentials/) - City A.M - [Rosie Bullard on the Value of ESG Analysis](https://www.jameshambro.com/rosie-bullard-on-the-value-of-esg-analysis/) - Jersey Finance - [Market Commentary 2nd Quarter 2022](https://www.jameshambro.com/market-commentary-2nd-quarter-2022/) - MAJOR RECESSION, MILD SLOWDOWN OR SOMETHING IN BETWEEN? “If you are not confused, you don´t know what is going on.” Jack Welch, Chairman and CEO General Electric 1981 - 2001 The first half of 2022 was one of the most challenging for markets in 50 years with a balanced 60:40 equity:bond portfolio performing worse than - [Charles Calkin advises on preparing financially for later-life care](https://www.jameshambro.com/charles-calkin-advises-on-preparing-financially-for-later-life-care/) - What Investment - [Thomas Allsup and Sarah Goose included in the Citywire Wealth Manager Top 30 Under 30 class of 2021](https://www.jameshambro.com/thomas-allsup-and-sarah-goose-included-in-the-citywire-wealth-manager-top-30-under-30-class-of-2021/) - Citywire Wealth Manager - [Charles Calkin on equity release](https://www.jameshambro.com/charles-calkin-on-equity-release-2/) - What Investment - [Rosie Bullard, Sarah Goose and Jane Mackett nominated for award](https://www.jameshambro.com/rosie-bullard-sarah-goose-and-jane-mackett-nominated-for-award/) - Investment Week - [Charles Calkin on equity release](https://www.jameshambro.com/charles-calkin-on-equity-release/) - Financial Times - [JH&P win PAM award](https://www.jameshambro.com/jhp-win-pam-award/) - Fundeye - [JH&P expand with two senior hires](https://www.jameshambro.com/jhp-expand-with-two-senior-hires/) - Citywire Wealth Manager - [How to protect your nest egg](https://www.jameshambro.com/how-to-protect-your-nest-egg/) - Telegraph - [Hefty tax bills for pension savers](https://www.jameshambro.com/hefty-tax-bills-for-pension-savers/) - Telegraph - [Make the right choices with your pension savings](https://www.jameshambro.com/make-the-right-choices-with-your-pension-savings/) - Financial Times - [Robert Seifert joins as portfolio manager](https://www.jameshambro.com/robert-seifert-joins-as-portfolio-manager/) - International Adviser - [Charles Calkin on tax taper traps](https://www.jameshambro.com/charles-calkin-on-tax-taper-traps/) - What Investment - [Charles Calkin on IHT planning](https://www.jameshambro.com/charles-calkin-on-iht-planning/) - What Investment - [The charity sector is facing significant financial strain](https://www.jameshambro.com/the-charity-sector-is-facing-significant-financial-strain/) - Independent - [The rising costs of private education](https://www.jameshambro.com/the-rising-costs-of-private-education/) - Financial Times - [Charities need support in managing their money](https://www.jameshambro.com/charities-need-support-in-managing-their-money/) - i news - [Shortlist for Investment Performance Awards 2021](https://www.jameshambro.com/shortlist-for-investment-performance-awards-2021/) - Citywire Wealth Manager - [Rosie Bullard advises a reader on investing his Cash ISA](https://www.jameshambro.com/rosie-bullard-advises-a-reader-on-investing-his-cash-isa/) - Investors Chronicle - [Expert investment views from James Beck](https://www.jameshambro.com/expert-investment-views-from-james-beck/) - findawealthmanager - [Millions face high tax bills due to freeze on pensions 'lifetime allowance'](https://www.jameshambro.com/millions-face-high-tax-bills-due-to-freeze-on-pensions-lifetime-allowance/) - Telegraph - [Rosie Bullard named in Citywire Wealth Manager Top 100 2021](https://www.jameshambro.com/rosie-bullard-named-in-citywire-wealth-manager-top-100-2021-2/) - Citywire Wealth Manager - [Patrick Trueman assesses the big picture for the economy heading into 2023](https://www.jameshambro.com/patrick-trueman-assesses-the-big-picture-for-the-economy-heading-into-2023/) - Patrick Trueman assesses the big picture for the economy heading into 2023. Economists are not known for their predictive abilities. Indeed, one of the first economists to receive a Nobel prize, Frederik Hayek, warned the Royal Swedish Academy of Sciences against the creation of such an award. Economists, he argued, could never make predictions as - [Is it time to take the annuities gamble?](https://www.jameshambro.com/is-it-time-to-take-the-annuities-gamble/) - [Rosie Bullard joins the Inflation debate: Fiscal stimulus was 'mad'](https://www.jameshambro.com/rosie-bullard-joins-the-inflation-debate-fiscal-stimulus-was-mad/) - [A precarious balance - quarterly market view](https://www.jameshambro.com/precarious-balance-quarterly-view/) - “In investing we may have a sense for what’s going to happen, but we never know when. Thus, the best we can do is turn cautious when the situation becomes precarious. We never know for sure when - or even whether – ‘precarious’ is going to turn into ‘collapse’”. Howard Marks, Oaktree Capital, September 2018. - [Investment review 2021/2022](https://www.jameshambro.com/investment-review-2021-2022/) - Just as we were looking forward to enjoying a more normal festive period, the arrival of the Omicron variant heralded a Christmas morning of stockings filled with masks, boosters and lockdowns. Following significant gains in 2021 the going is likely to prove harder in 2022 as the stimulus tailwind fades, monetary conditions tighten and debate - [Market Commentary 1st Quarter 2022](https://www.jameshambro.com/market-commentary-1st-quarter-2022/) - The importance of a long-term mindset The good old days It is intriguing how some things don’t change, like the human tendency to reminisce on better times. As far back as the ninth century, Alfred the Great, complained of how much better England was in the good old days. “It very often comes to my - [Market Commentary 3rd Quarter 2022](https://www.jameshambro.com/market-commentary-3rd-quarter-2022/) - HARNESSING RATIONAL OPTIMISM It is hard to argue that the near-term future looks anything other than extremely challenging. With winter approaching, many could be forgiven for drawing the curtains. However, with good news in short supply it can be easy to forget what substantial advances have been achieved over longer periods of time. Reviewing the - [James Hambro & Partners appoints John Langrish](https://www.jameshambro.com/james-hambro-partners-appoints-john-langrish/) - ... - ['Look after the pennies' Country Life](https://www.jameshambro.com/look-after-the-pennies-country-life/) - ... - [Market Report Second Quarter 2011](https://www.jameshambro.com/market-report-2nd-quarter/) - “How great are the dangers I face to win a good name in Athens.” Alexander the Great, ancient king of Macedon (356-323 BC) The above quote could just as easily have been uttered by the present prime minister of Greece, George Papandreou, faced by striking trade unionists and rioting anti austerity protestors outside the parliament - [Market Commentary Third Quarter 2011](https://www.jameshambro.com/market-commentary-3rd-quarter/) - “The circulation of confidence is better than the circulation of money.” James Madison, American President (1751-1836) At the heart of the storms currently sweeping the financial markets is a crisis of confidence. The current policy environment, lacking decisiveness and co-ordination is holding the fragile global economy back. With the possible exception of Asia, virtually nowhere - [Market Commentary Fourth Quarter 2011](https://www.jameshambro.com/market-commentary-4th-quarter/) - "Annual income twenty pounds, annual expenditure nineteen pounds nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery" Mr Micawber from Charles Dickens’ novel David Copperfield If only more governments, financial institutions and individuals had heeded the simple words of advice from the fictional Mr Micawber and - ['James Hambro & Partners stars in performance charts' by Citywire 15 March 2012](https://www.jameshambro.com/james-hambro-partners-stars-in-performance-charts-by-citywire-15-march-2012/) - Click the link below to read the full article. http://citywire.co.uk/wealth-manager/james-hambro-and-partners-stars-in-performance-charts/a574532 - ['A spotlight on James Hambro & Partners' private client performance' by Citywire 10 May 2012](https://www.jameshambro.com/a-spotlight-on-james-hambro-partners-private-client-performance-by-citywire-10-may-2012/) - To view, please click on the link below: http://citywire.co.uk/wealth-manager/a-spotlight-on-james-hambro-and-partners-private-client-performance/a587956 - [Verbatim Asset Management launches unique discretionary fund management (DFM) proposition](https://www.jameshambro.com/verbatim-asset-management-launches-unique-discretionary-fund-management-dfm-proposition/) - James Hambro & Partners are delighted to have been chosen by Verbatim Asset Management as a key partner to assist in the launch of the Verbatim Discretionary Service. We have been selected from a long list of discretionary fund managers for our robust investment process, high quality service proposition, experienced portfolio management team, performance record - [James Hambro & Partners LLP to merge with Calkin Pattinson](https://www.jameshambro.com/james-hambro-partners-llp-to-merge-with-calkin-pattinson/) - JHP Press release 16 08 12 - [James Horniman appointed as a Partner](https://www.jameshambro.com/james-horniman-appointed-as-a-partner/) - Please click on the link below: James Hambro & Partners LLP appoints new Partner - [Portfolio management and financial planning now offered](https://www.jameshambro.com/merger-letter/) - James Hambro & Partners LLP, the independent private asset management partnership, which manages funds on behalf of private clients and charities, today announces that it is to merge with Calkin Pattinson & Company Ltd, a leading financial planner for high net worth clients. The group, which will trade under the James Hambro & Partners brand, - [John Langrish and Anthony Balniel make Citywire Wealth Manager's Top 100](https://www.jameshambro.com/john-langrish-and-anthony-balniel-make-citywire-wealth-managers-top-100/) - Following on from the successful merger with Calkin Pattinson in September, last week saw the announcement of two James Hambro & Partners Fund Managers, John Langrish and Anthony Balniel, included in Citywire Wealth Manager's Top 100, who have 'selected individuals who are at the vanguard of the UK’s thriving private client investment management community'. Citywire - [Christopher Macklin joins James Hambro & Partners](https://www.jameshambro.com/christopher-macklin-joins-james-hambro-partners/) - Christopher Macklin - Press release - November 2013 - [Simon Brookes joins James Hambro & Partners](https://www.jameshambro.com/simon-brooks-joins-james-hambro-partners/) - Simon Brookes - Press release - November 2013 - [Catching the ripples](https://www.jameshambro.com/catching-the-ripples/) - There remains considerable debate about whether US equities are now overpriced. Year to date in Sterling terms, the US market has risen just 3.4% compared with Europe – up 7.4% – the UK not far behind that, and Japan and Asia delivering currency-fuelled gains of above 6%. Is this a sign of a bull market - [A value tour of global equities](https://www.jameshambro.com/value-tour-global-equities/) - The FTSE 100 index finally breaking through 7000 prompted questions as to whether markets are looking expensive. With the MSCI World index and the MSCI China index also recently hitting new highs and resistance levels close for Nasdaq in the US and the Stoxx index in Europe, the question is a global one. It might - [Election response](https://www.jameshambro.com/election-response-2/) - The relief rally in UK equities, gilts and sterling the day after the election was an entirely logical reaction to the result and the prospect of a continuation of existing Conservative policy. Investor concerns over any negative implications of weaker sterling, particularly by international investors of UK assets, have been placated for now. Future debt - [Careful stock-picking required](https://www.jameshambro.com/careful-stock-picking-required/) - Monetary stimulus around the world is a contributing factor in our current asset allocation and investment strategy. We have been taking money out of the US, which is the most expensive of the major regions and where earnings and share price momentum has started to deteriorate versus other parts of the world. It appears that - [Signs look promising](https://www.jameshambro.com/signs-look-promising/) - Rising wages can be a double-edged sword. On the one hand, they erode company profitability, which can have a potential impact on share prices and the capacity of businesses to reward shareholders through dividends. On the other, they are a sign of an improving economy and therefore something to be welcomed in the UK. Wages - [Young guns day hits target audience](https://www.jameshambro.com/young-guns-day-hits-target-audience/) - An afternoon of archery, clay pigeon shooting and duck herding, proved a good networking opportunity for younger professionals within intermediary firms that work closely with James Hambro & Partners. The event at the West London Shooting School attracted around 50 participants, aged between 25 and 36. This was our first Succession event and marked the - [Value in equities remains for those with the right approach](https://www.jameshambro.com/value-in-equities-remains-for-those-with-the-right-approach/) - Stability and certainty are in short supply at the moment so it pays to tread carefully across all risk markets, but this does not mean there is a lack of opportunities, writes Rosie Bullard, portfolio manager at James Hambro & Partners. We see increasing downside risk in the bond market so we remain underweight fixed - [Charities need to think more broadly about risk, says Barber](https://www.jameshambro.com/charities-need-to-think-more-broadly-about-risk-says-nicola-barber/) - Risk can keep us awake at night, so being told we need to embrace fresh risks is probably unwelcome news. However, burying our heads in sand – or pillows – is not an option. We have a responsibility to identify and continually monitor the risks facing the organisations we represent. Market risk A core risk - [A week of market turmoil](https://www.jameshambro.com/a-week-of-market-turmoil/) - Equity markets have been falling due to concerns over China, falling inflation and the timing of an impending rise in US interest rates. Until this week, trading volumes were seasonally light, with prices moving more on uncertainty, rather than a breakdown in fundamentals or reversal of economic fortunes. China has been prominent amongst the headlines, - [Beware further bumps in the road](https://www.jameshambro.com/beware-further-bumps-in-the-road/) - The combination of concerns over slowing growth in China and US interest rate rises triggered a sell-off in equities in August, but it has not marked the start of the next bear market. This was not a black swan event though it did send shockwaves around the world. Ultimately, the Chinese Government appeared concerned that - [James Hambro supports charity grant panel](https://www.jameshambro.com/james-hambro-supports-charity-grant-panel/) - James Hambro & Partners is delighted to have provided practical support to the grant panel of The RAISE Challenge Fund. The aim of the Fund is to enable significant change to occur in the capability of a voluntary group or charitable organisation in the South East of England. Through issuing grants, the Fund helps groups - [James Hambro & Partners shortlisted for charity investment management award](https://www.jameshambro.com/james-hambro-partners-shortlisted-for-charity-investment-management-award/) - James Hambro & Partners has been shortlisted in the prestigious Charity Times annual awards. It is one of just six firms in the Boutique Charity Investment Management category – the winner will be announced in the Autumn. Nicola Barber, Partner and Head of Charities at James Hambro & Partners said: “This is great recognition for - [Lloyds share offer – James Horniman view](https://www.jameshambro.com/lloyds-share-offer-james-horniman-view/) - Historically a rising interest rate environment has been kind to financial stocks, which might lead investors to conclude that the Lloyds share offer – particularly with any potential Government incentives offered – represents an interesting opportunity. Put simply, the argument is that higher interest rates suggests a thriving economy in which lending flourishes. Rate increases also create an opportunity for margins to expand, which boosts profitability. - [James Hambro & Partners wins prestigious charity Investment Management award](https://www.jameshambro.com/james-hambro-partners-wins-prestigious-boutique-investment-management-award/) - James Hambro & Partners has won the Boutique Investment Management prize in the Charity Times 2015 Awards, earning acclaim for the bespoke quality of its service to charities. The firm has a fast-growing portfolio of charity clients and a strong commitment to the sector, with most of its partners themselves charity trustees in their spare time. Jamie - [Partners win Spears acclaim](https://www.jameshambro.com/partners-win-spears-acclaim/) - James Hambro & Partners has had two of its partners recognised in Spear’s list of the top 50 high net worth wealth managers. Head of Charities Nicola Barber and Portfolio Manager James Horniman are featured in the magazine’s 2015 roll of honour. Nicola, highlighted in the “outstanding in field” category, is praised for presiding over - [James Hambro & Partners shortlisted for more awards](https://www.jameshambro.com/more-james-hambro-partners-award-shortlistings/) - James Hambro & Partners has been shortlisted for another brace of adviser awards recognising best practice and performance in the wealth management industry. The firm is a finalist in the discretionary fund management category of Investment Week’s specialist investment awards and also made the Citywire Wealth Manager investment performance awards – named among the top five - [James Hambro & Partners launches Managed Portfolio Service](https://www.jameshambro.com/james-hambro-partners-launches-managed-portfolio-service/) - Award-winning wealth manager James Hambro & Partners has extended its offering to financial advisers with the launch of a range of managed portfolios. The strategies, which include Prudent, Balanced Growth, Capital Growth and Adventurous, are risk weighted using the same approach as the James Hambro & Partners discretionary service. They give advisers easy access to - [James Hambro partner in industry top 100](https://www.jameshambro.com/james-hambro-partner-in-city-top-100/) - Charlie Underwood, a senior figure within James Hambro & Partners’ investment team, has been named by Citywire Wealth Manager as one of the most influential fund selectors in the UK wealth management industry. A founding member, Charlie, who also looks after private clients, trusts and charities, has primary responsibility for researching third-party collective investments. Though James Hambro - [James Hambro & Partners – Discretionary Fund Management Group of the Year](https://www.jameshambro.com/james-hambro-partners-named-discretionary-fund-management-group-of-the-year/) - James Hambro & Partners has been named Discretionary Fund Management Group of the Year at the Investment Week Specialist Investment Awards. The prestigious award, judged by senior figures from the wealth management industry, recognises best practice and performance. The judges commended the firm for delivering “strong, client-focused outcomes with a strong commitment to understanding client - [75.8% in tax relief. Is it possible?](https://www.jameshambro.com/75-8-in-tax-relief-is-it-possible/) - Apparently you should never look a gift horse in the mouth because it’s a present. Taking time to check its teeth is therefore rude. In the Autumn Statement, the Chancellor offered high earners his own gift horse – a stay of execution on tax-efficient pensions saving. This is a temporary gift and the Chancellor looks - ['Choose Change' — Nicola Barber discusses her top tips for charities reviewing their investment manager](https://www.jameshambro.com/choose-change-nicola-barber-partner-at-james-hambro-partners-discusses-her-top-tips-for-charities-reviewing-their-investment-manager-with-the-charity-times/) - In this Charity Times article, Editor Matt Ritchie speaks to Head of Charities and Partner at James Hambro & Partners, Nicola Barber and others to discuss when and how charities should review their investment managers. After setting an investment policy, choosing the managers that will run a charity's money is one of the most important - [Wealth management gold for James Hambro & Partners](https://www.jameshambro.com/wealth-management-gold-for-james-hambro-partners/) - James Hambro & Partners has won a prestigious gold prize in the Portfolio Adviser wealth manager awards. The firm won in the Balanced Portfolio category of the awards, which are designed to reward the UK’s best fund pickers and asset managers. The judging panel was made up of senior financial planners, lawyers, accountants, consultants and trustees – - [10 tips for charity trustees adopting an ethical investment policy](https://www.jameshambro.com/10-tips-for-charity-trustees-adopting-an-ethical-investment-policy/) - At our recent charity investments seminar we heard from a number of guests who had either advised charity trustees or gone through the process themselves of adopting an ethical investment approach. Here we summarise their advice. Consider how exposed your charity would be if its investment actions didn’t match its ethical principles or conflicted directly - [Top PAM award for James Hambro & Partners](https://www.jameshambro.com/top-pam-award-for-james-hambro-partners/) - James Hambro & Partners has won the image and reputation title at the Private Asset Management awards. Selected by an expert panel of independent professionals, the firm was singled out for how its core values were reflected in its client service, literature, communication and coverage in national media. In its submission, the company highlighted its - [Charities under pressure](https://www.jameshambro.com/charities-under-pressure/) - The Government’s National Living Wage comes into effect this month and is likely to have implications for a significant number of charities. Economists are divided over whether it will be good overall or bad for the economy (the OBR thinks it will cost 60,000 jobs). There will certainly be winners and losers – not least - [Brexit: protecting wealth](https://www.jameshambro.com/brexit-protecting-wealth-in-volatile-times/) - Much attention in the UK is of course focussed on the imminent referendum on EU membership. At the time of the Scottish referendum and last UK General Election our internal asset allocation committee met and considered the various outcomes on client portfolios. As clients would expect, we have held several asset allocation meetings prior to - [EU referendum: investment update](https://www.jameshambro.com/eu-referendum-client-update/) - With the momentous events of last night’s EU referendum vote still being assimilated by financial markets, we wanted to share with clients the latest thoughts from our ad-hoc asset allocation committee meeting, held this morning, and any implications for client portfolios. Clearly the ‘Leave’ result was counter-consensus, whether you looked at the ex-ante deliberations of - [JH&P shortlisted once again for Charity Times award](https://www.jameshambro.com/jhp-shortlisted-once-again-for-charity-times-award/) - James Hambro & Partners has once again been shortlisted for the Boutique Investment Management prize in the Charity Times Awards. The shortlisting, coming twelve months after JH&P won the award, underlines its continued commitment to the charity sector. The firm’s portfolio of charity clients continues to grow – in large part because of a bespoke offering to - [Hawksbee joins James Hambro & Partners](https://www.jameshambro.com/hawksbee-joins-james-hambro-partners/) - James Hambro & Partners has announced the appointment of experienced industry specialist Glenn Hawksbee as Head of Financial Intermediary Sales. Hawksbee was former Head of Sales at Quilter Cheviot, and worked there for 17 years. He said: “During my career I have been fortunate to work with successful businesses which have demonstrated growth. I see - [Global equities manager William Francklin to join James Hambro & Partners](https://www.jameshambro.com/global-equities-manager-william-francklin-to-join-james-hambro-partners/) - US and global equity markets specialist William Francklin is to join James Hambro & Partners, as the firm continues its strong growth. Francklin was a private client director at Waverton Investment Management for 22 years and a senior member of its asset allocation and stock selection committees. He joins JH&P as a Partner. JH&P CEO - [Chartered IFA firm Regency opts for James Hambro & Partners](https://www.jameshambro.com/chartered-ifa-firm-regency-opts-for-james-hambro-partners/) - Surrey IFA Regency Investment Services Ltd has chosen James Hambro & Partners to provide the core investment solutions for its £150m of client assets. Regency’s MD, Dominique Vinecombe, whose grandfather founded the business over 50 years ago, currently leads a small in-house investment committee, building risk-rated model portfolios under an advisory system that requires client - [James Hambro & Partners again named DFM of the Year](https://www.jameshambro.com/james-hambro-partners-again-named-dfm-of-the-year-2/) - James Hambro & Partners has been named Discretionary Fund Manager of the Year at the Specialist Investment Awards for the second year in succession. Organised by Investment Week magazine, the awards were judged by a panel of senior industry experts who selected the firm after having studied its investment culture and scrutinised independent performance data. - [James Hambro & Partners takes Citywire Wealth Manager honours](https://www.jameshambro.com/james-hambro-partners-takes-citywire-wealth-manager-honours/) - James Hambro & Partners has been named the Best Overall Medium Firm in the Citywire Wealth Manager Investment Performance Awards 2016. The firm earned the title based on analysis from independent experts Asset Risk Consultants of risk-adjusted performance and consistency of returns over a three-year period. Citywire, which receives more than 100 submissions to the - [Trump – the new reality](https://www.jameshambro.com/trump/) - Many claim that former Hollywood movie actor Ronald Reagan was one of the best Presidents the US ever had. What might they say in years to come of reality TV celebrity Donald Trump’s presidency? From where we stand today it is hard even to guess. In arguably the most bitter and unpleasantly-fought US elections ever, - [Award recognition for performance and reputation](https://www.jameshambro.com/award-wins/) - James Hambro & Partners has highlighted its standing in the wealth management industry with a clutch of award wins. In October, for the second year in succession, it was named Discretionary Fund Manager of the Year by Investment Week. An award judged by a panel of senior industry experts who based their decision on independent - [Autumn Statement view](https://www.jameshambro.com/autumn-statement-view/) - It was the first opportunity for many of us to really see new Chancellor Philip Hammond in action. Did he exude the authority and confidence we will need in a post-Brexit world? And which of his announcements caught the eye? James Horniman, Portfolio Manager, James Hambro & Partners: Forecasts and data: Mr Hammond tried to put - [Barber and Horniman in Spear's top five](https://www.jameshambro.com/spears-names-two-jhp-partners-in-top-five/) - Two JH&P partners have been named among the top five wealth managers for high net worth clients in the prestigious Spear’s 500 list. Head of Charities Nicola Barber came second, with Portfolio Manager James Horniman in fifth position. Portfolio manager Rosie Bullard also made the magazine’s list, which is designed to recognise best practice, performance and innovation in wealth management. Nicola - [Is it time to shelve bond proxies?](https://www.jameshambro.com/1859/) - Bond proxy stocks have had a great run but have faltered lately. Is it time for a return to value? Portfolio manager Rosie Bullard looks at the numbers and offers some warnings for investors tempted to over-react. They’re some of the world’s best known brands ­– Guinness, Gordon’s, Dove, Hellmann’s, Fairy and Gillette. The companies - [12 days of Christmas](https://www.jameshambro.com/12dayschristmas/) - Could there be a grander romantic gesture ­– sending your true love gifts for each of the 12 days of Christmas? Yes, we’re talking gold rings, partridges, pear trees and leaping lords. But what would it cost? And is it a good investment? A partridge in a pear tree = £55 Partridges can be flighty - [12 days of Christmas costs more than average pay](https://www.jameshambro.com/12-days-of-christmas-gifts-cost/) - Buying all of the items listed in the 12 days of Christmas would burn through the entire annual take-home pay of an average UK worker and represents a dire investment. It would cost £21,167.56 to secure the necessary drummers, pipers, lords, dancers, maids, swans, geese, gold rings, French hens, calling birds, turtle doves, the partridge - [Final salary pension transfers](https://www.jameshambro.com/final-salary-pension-transfers/) - Should I transfer out of a final salary pension scheme? In recent weeks we have received a raft of enquiries from people asking whether they should transfer out of their final salary pension schemes (or defined benefit schemes, as they are also known). Many of these people are being offered unusually generous terms. Why is - [Five New Year resolution ideas for financial advisers](https://www.jameshambro.com/resolutions/) - It was a year of surprises – of Brexit, Trump and Leicester City. At least one of those made us smile. And for James Hambro & Partners 2016 also saw the arrival of Glenn Hawksbee, our head of sales for intermediaries, who has spent two decades supporting financial adviser businesses. Our investment managers marked the - [Three new partners appointed at James Hambro & Partners](https://www.jameshambro.com/new-partners/) - James Hambro & Partners has made three key staff partners in the business. Portfolio Manager Rosie Bullard, Head of Business Development Christopher Macklin and Chief Operating Officer Martina Iannotti have been rewarded for their contributions to the firm. Specialising in private client work, trusts and charities, Rosie is a Chartered Financial Analyst and a member - [Trump inauguration: Are markets overvalued?](https://www.jameshambro.com/markets-overvalued/) - Global equity markets measured by crude PE ratios are at the top of historical ranges in most markets (except in Japan – see figure one). More worryingly, the cyclically-adjusted, longer-term Shiller PE ratios show the US at levels only exceeded at the end of the 1920s and 1990s bull markets. So should investors be worried? Are - [Market commentary: Q4 2016](https://www.jameshambro.com/market-commentary-q4-2016/) - “I don’t know where I am going from here, but I promise it won’t be boring” - David Bowie At the start of 2016, few would have predicted that either the UK would vote to leave the EU or indeed a New York based billionaire businessman and television celebrity would become the 45th President of - [Financial year-end spring clean](https://www.jameshambro.com/financial-year-end/) - Most of us respond better to deadlines, so the looming financial year-end on 5th April offers an urgent prompt about several sound planning steps investors need to consider and perhaps act upon in the coming weeks. This is particularly true for high earners, who could find themselves paying punitive rates of tax unnecessarily. Consider investing - [Is it time to invest in Japan?](https://www.jameshambro.com/invest-in-japan/) - Equity markets are difficult to judge at the moment, with many on record highs, but one which stands out as more compelling than most is Japan, where the price/earning ratio is at its lowest for almost a decade and Prime Minister Shinzo Abe’s stimulus measures continue to underpin the economy. Is it time to invest - [Six difficult questions to ask a prospective wealth manager](https://www.jameshambro.com/difficult-questions/) - You worked hard to create your wealth, so choosing someone to manage it is not easy. If you are looking for a wealth manager or reviewing your existing arrangements, we would obviously like you to consider James Hambro & Partners. We are realists ­– we expect you to look around. Hopefully, these questions will help - [Is Britain for sale?](https://www.jameshambro.com/britain-for-sale/) - The weak pound may make many of the UK’s most iconic brands susceptible to foreign takeover bids in the wake of last month’s £115bn bid by Kraft to buy Britain’s third largest company, Unilever. At its worst point sterling has fallen over 20% against the US dollar since Brexit and though it has recovered to some - [Budget response](https://www.jameshambro.com/budget-response/) - Philip Hammond cracked some good jokes at the expense of his Labour counterparts but millions of self-employed and small business owners were probably not much in the mood for laughing afterwards. This was not the first time a Chancellor has announced the last ever Spring Budget (Hammond reminded us that Norman Lamont once made a similar boast), and - [Protecting against inflation](https://www.jameshambro.com/protecting-against-inflation/) - New inflation figures for February show CPI inflation rose to 2.3%. That’s a hike of 0.5% in just a month and the first time the Bank of England’s 2% target has been breached since 2013. In the Budget the Chancellor Phillip Hammond said the OBR expectations were for CPI inflation to reach 2.4% this year. - [Does politics matter?](https://www.jameshambro.com/does-politics-really-matter/) - Does politics matter? As Theresa May triggers Article 50 and the debate fires up once more on the pros and cons of Brexit, it is easy to feel anxious. Don’t! If you look at market charts over the past 30 years without a clear dateline you might struggle to identify major geopolitical events, like the wars - [Market commentary: Q1 2017](https://www.jameshambro.com/market-commentary-q1-2017/) - “How do we know when irrational exuberance has unduly escalated asset values?” – Alan Greenspan, former Chairman of the Federal Reserve. The term Irrational Exuberance was first coined by Alan Greenspan in 1996 in reference to his perception that market values had risen too far. Over the past 8 years, since the lows of 2009, investors - [May week was in June](https://www.jameshambro.com/election-view/) - “May Week was in June” was the title Clive James gave to his memoir of life at Cambridge University. This sprang to mind as MPs voted to support Theresa May’s surprise decision to call a general election. This election may be in June but it is all about May – about her winning a democratic - [It’s all about EU](https://www.jameshambro.com/its-all-about-eu/) - When Jean-Claude Juncker made his comments about Theresa May following the now infamous dinner at Downing Street, it was interpreted by many here as a strong signal to Britain that the negotiations ahead will be tough. In the light of yesterday’s victory by Macron in the French presidential election we should view it more broadly. - [New Lifetime ISA](https://www.jameshambro.com/new-lifetime-isa/) - Financial planner Charles Calkin shares his views on the new Lifetime ISA and argues that it might offer a tax-efficient way for parents and grandparents to reduce their IHT liability and help family members to get on the housing ladder. Saving for a first home is a tough challenge and the Lifetime ISA gives anyone over 18 - [Making sure you can still pay care costs](https://www.jameshambro.com/making-sure-you-can-still-pay-care-costs/) - Amid the arguments between Conservative and Labour politicians over their respective proposed new arrangements to fund later-life social care, James Hambro & Co financial planner Charles Calkin offers some words of practical advice. Don’t give your children too much of your money! Whoever wins the election, we know that the state is going to ask - [Election 2017: Investment insights](https://www.jameshambro.com/election-2017/) - Once more the polls have produced a result few of us could have predicted. Markets don’t like uncertainty and there is a heap of it about now, yet the reaction was initially muted. While the “News at Ten” chimes were still ringing to the exit poll headlines, sterling fell away nearly 2% but UK equity markets - [Investing through the pandemic: Survival of the (financially) fittest](https://www.jameshambro.com/investing-through-the-pandemic-survival-of-the-financially-fittest/) - At James Hambro & Partners, our investment philosophy is built on the desire to deliver consistent returns to our clients. By taking a longer-term view and delivering consistent performance through all phases of the economic and market cycle portfolio, returns will naturally benefit from the power of compounding, Albert Einstein’s eighth wonder of the world. - [JH&P Edinburgh office gains another recruit](https://www.jameshambro.com/jhp-edinburgh-office-gains-another-recruit/) - Wealth manager James Hambro and Partners (JH&P) has appointed Chris Hardie as a financial planning specialist in its fast-growing Scottish office. Hardie has worked in financial planning for ten years and is a Chartered Financial Planner. He holds the Advanced Diploma in Financial Planning and is a Fellow of the Personal Finance Society. On joining - [January investment update](https://www.jameshambro.com/january-investment-update/) - A swift response to rising COVID-19 infections and better data restored investor confidence in December, while central banks moved to control inflation. Caution ruled the markets in November in the face of many unknowns around the new Omicron variant of COVID-19. Confidence returned to markets in December, thanks to containment action by governments and a - [March investment update](https://www.jameshambro.com/march-investment-update/) - It was another tough month for investors after Russia’s invasion of Ukraine hit global markets. While the humanitarian impact can be profound, the impact of geopolitical shocks on markets has historically proven short-lived with long-term returns dependent on economic growth, corporate earnings and interest rates. The past month has seen the brewing crisis in Ukraine - [Too good to be true? The six warning signs of investment scams](https://www.jameshambro.com/six-warning-signs-of-investment-scams/) - Are you too smart to fall for an investment scam? Don’t be so sure. Research conducted by the Financial Conducts Authority (FCA) in 2014 showed that the most financially sophisticated 5% of the UK’s population are approximately five and a half times more likely to be a victim of financial crime than the rest of - [JH&P appoints two new partners and builds out Leeds office](https://www.jameshambro.com/jhp-appoints-two-new-partners-and-builds-out-leeds-office/) - James Hambro & Partners (JH&P) has made two key staff partners in the business and strengthened its new Leeds office. Financial Planning Director Ned Francis and Head of Finance Andrew Rice have been rewarded for their contributions to the partnership. Moving to Leeds Ned Francis has been providing financial advice to private clients for 15 - [Lessons to be drawn from the technology stocks correction](https://www.jameshambro.com/technology-stocks-correction/) - Portfolio managers Rosie Bullard and Mark Leach share their views on the recent correction in tech stocks. Mark Leach: Technology stocks had certainly become quite stretched. They have been core drivers of the strong returns in equity markets this year and if they had maintained their recent pace to the end of the year returns would - [JH&P appoints two senior advisers](https://www.jameshambro.com/rochussen-yarrow-appointment/) - Wealth manager James Hambro & Partners (JH&P) has appointed Sir Alan Yarrow and Gavin Rochussen as Partnership Advisers. Their role, which is non-executive, will be to guide and advise on the continuing growth strategy of the firm and to help ensure that as the business develops it continues to deliver strong investment performance and outstanding service. - [FT tables underline strong performance](https://www.jameshambro.com/ft-tables-underline-strong-performance/) - The strong investment performance of James Hambro & Partners has been underlined by the FT’s annual wealth management survey. The survey, now in its eighth year, highlights the performance over one, three and five years of average balanced and growth portfolios from 45 of the UK’s leading wealth managers. Of these, 34 have had their - [Brexit one year on](https://www.jameshambro.com/brexit-one-year-on/) - A year on from the decision to leave the EU and we are still only beginning to work out what that actually means. It is unlikely to be pleasant, so why do markets keep rising? Let’s first deal with what we know about the Brexit negotiations and how they will affect portfolios. There, that didn’t - [Is the bull market on its last legs?](https://www.jameshambro.com/is-the-bull-market-on-its-last-legs/) - Investors are getting edgy. The equity bull market, which began on 9th March 2009 in the UK and the US, is now crawling into geriatric territory. It is heading for its century – about to hit 100 months old. Many fear it must surely collapse soon. They have been predicting this since the start of the - [Time for a red tape bonfire?](https://www.jameshambro.com/red-tape/) - In 2002, then US Defence Secretary Donald Rumsfeld famously described “known unknowns” - things that we know we don't know. Over the last twelve months, Brexit has been the great ‘unknown known’ of British politics; we know it’s happening, we know it means Brexit, but we don’t really yet know what it means for the - [Team members win awards and accolades](https://www.jameshambro.com/team-accolades/) - Four members of James Hambro & Partners’ senior team have been recognised as among the UK’s top wealth managers. Nicola Barber, the firm’s Head of Charities, and Portfolio Manager James Horniman are ranked in the Spear’s Top Ten High Net Worth Wealth Managers. Head of Investments John Langrish and Portfolio Manager Rosie Bullard feature in - [The Asia crisis 20 years on](https://www.jameshambro.com/asia-crisis/) - It was a crash few people saw coming. Twenty years on from the Asia crisis, are there any lessons to be learned? For nearly three decades from the late ‘60s, Indonesia, South Korea, Malaysia and Thailand experienced an astonishing record of economic performance – fast growth (between 5.5% and 8% pa on average), low inflation, macroeconomic - [Market commentary: Q2 2017](https://www.jameshambro.com/market-commentary-q2-2017/) - “It was the best of times, it was the worst of times” – Charles Dickens, author. The opening lines of Dickens’ work of historical fiction, A Tale of Two Cities, sets the scene for his commentary on social and political unrest in both London and Paris around the time of the eighteenth- century French Revolution. - [Issues to consider when planning private schooling](https://www.jameshambro.com/issues-to-consider-when-planning-private-schooling/) - Around 625,000 children – about one in 15 UK school children – go to fee-paying independent schools. The figure rises to more than one in five pupils over the age of 16. The average independent school now costs around £14,000 a year – more in London – and over £32,000 a year on average for boarding - [Gift aid and other tax-efficient ways to give](https://www.jameshambro.com/gift-aid/) - The Office for National Statistics last moth published new data showing that the UK population made gift-aided donations of over £5bn to charity last year – the highest ever. This resulted in HMRC adding £1.27bn to the donations. That’s good news. But on the same day it also released other interesting information that highlights the - [JH&P launches service for American clients](https://www.jameshambro.com/american-clients/) - James Hambro & Partners has unveiled a new investment management service for American clients after receiving authorisation from the US regulator, the Securities & Exchange Commission (SEC). The UK-based wealth manager says it is seeing growing interest from American investors unsettled by the political climate who want their money to be managed outside the US. - [Meeting William Francklin](https://www.jameshambro.com/meeting-william-francklin/) - Respected global equities expert William Francklin joined James Hambro & Partners in August. William is a US equities specialist and for two years lived in New York, managing US specialist funds. He visits the country regularly to meet company management teams. Here, alongside JH&P Chief Executive Andy Steel, he talks about his experience, his new - [Be a ScamSmart investor](https://www.jameshambro.com/be-a-scamsmart-investor/) - In 2015/16 there were 3,186 reports of investment fraud but the true figure is likely to be far higher as many victims are too embarrassed to report the crime. The cost of fraud can be serious. The average loss of reported scams was £32,000 and this is just the financial cost – victims can suffer - [Market commentary: Q3 2017](https://www.jameshambro.com/market-commentary-q3-2017/) - “There was a belief in the revolution and the future, a feeling of having suddenly emerged into an era of equality and freedom” – George Orwell (1903-1950). The above quote is taken from Orwell’s Homage to Catalonia, his personal account of his experiences during the Spanish Civil War. It represents his view of Barcelona’s public - [Are the younger generations heading for disaster?](https://www.jameshambro.com/financial-lives-survey/) - The FCA’s Financial Lives Survey elevates the UK’s financial regulator alongside Stephen King and Mary Shelley to the upper echelons of horror writers. It is probably the most frightening thing I’ve read in a long time. Here are just a few highlights: I think the retirement planning figures are the most worrying. When you’re young - [Interest rates: a significant turning point](https://www.jameshambro.com/interest-rates/) - Today’s interest rate rise may be small but it is highly symbolic – the first rise since 5 July 2007. If there was a mechanism in place for interest rates to find a natural equilibrium my guess is that they would settle at about 3% – still some way off. So this is not the end - [Trump – don’t underestimate his achievements](https://www.jameshambro.com/trump-achievements/) - Out West they describe people who talk a good talk but cannot deliver as “all hat and no cattle”. It’s too easy to apply the term to Donald Trump – so many of his pre-election boasts have fallen flat and his failures can appear to outweigh his successes. But is it entirely fair? Failures Most - [JH&P portfolio manager swapping stocks for stirrups](https://www.jameshambro.com/jhp-portfolio-manager-swapping-stocks-for-stirrups/) - James Hambro & Partners portfolio manager Mark Richmond-Watson is to swap stocks for stirrups to race against former England footballer Michael Owen at Ascot. The 30-year old portfolio manager has taken up the challenge to participate in the seven-furlong flat race on Friday (24th Nov) to help raise money for charity. It will be the - [Budget response – November 2017](https://www.jameshambro.com/budget-nov-2017/) - Compared to the drama of Brexit and potential political changes in Europe, today’s budget was a sideshow. It had some humour and even a magical rabbit out of the hat at the end for first-time buyers. It was a budget for all audiences ­– designed neither to unsettle nor over-excite There was nothing on the - [How to ask for a prenuptial agreement](https://www.jameshambro.com/prenuptial_agreement/) - As Prince Harry announces his engagement to Meghan Markle, Charles Calkin, financial planner at James Hambro & Co., shares some thoughts on the tricky issue of asking for a prenuptial agreement: An engagement is first and foremost an opportunity to celebrate. But once the euphoria has passed, it is vital to ensure that the realities of planning - [Horses for courses – JH&P charity race success](https://www.jameshambro.com/charity_race/) - James Hambro & Partners portfolio manager Mark Richmond-Watson ended a thrilling charity race at Ascot beaten on the home straight but congratulated by HRH the Prince of Wales and HRH the Duchess of Cornwall. Richmond-Watson, 30, was taking on two race horse owners – former England footballer Michael Owen and Sheik Fahad Al Thani – - [Reality cheque](https://www.jameshambro.com/reality_cheque_negotiation/) - The news that Britain and the rest of the EU have found an agreement to release them from the negotiation deadlock is welcome. Some will be surprised at the terms. This stage was about issues of principle – an open border between Northern Ireland and the Republic, preservation of the rights of European residents in - [Giving money to grandchildren – using a bare trust](https://www.jameshambro.com/bare-trust/) - Christmas is a time when many older investors think about giving money to their grandchildren to assist with their education and to set them up for adult life. A bare trust can often help. Why do I need a bare trust? Children cannot own shares except through a Junior ISA (JISA) or a pension, which - [The spirits of Christmas](https://www.jameshambro.com/christmas-spirits/) - After a successful year for technology stocks, James Horniman has clearly been thinking too much about the fundamentals of stock selection. Maybe it was reading A Christmas Carol to the children before bedtime or having too much Stilton for supper. To my surprise, I was being woken from my sleep by an ethereal chap looking remarkably like - [A reason to be optimistic about 2018](https://www.jameshambro.com/brexit-negotiations/) - By fudging the tricky questions such as the Irish border, our Brexit negotiators have managed to move the negotiations on to the difficult part of our departure. The next 12 months will see the key trade talks with our EU partners reach a critical stage. Even with goodwill on both sides, something that is not - [Tax return tips – make sure you don't overpay](https://www.jameshambro.com/tax-return/) - It is the time of year when millions of Britons rush to meet HMRC’s 31 January deadline for online self-assessment tax returns. Last year a record 10.8m people submitted their annual tax return on time, with nearly 33,000 filing in the final hour. But another 840,000 people missed the deadline. Those who are late are - [Market commentary Q4 2017](https://www.jameshambro.com/market-commentary-q4-2017/) - "Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years." – Warren Buffett Throughout history technological enhancements have contributed to the evolution of the way humans work, communicate and spend their leisure time. However, the exponential growth in computing power and the expansion of the internet appear - [JH&P hires Asia equity specialist](https://www.jameshambro.com/camilla-cecil-hire/) - Investment manager James Hambro & Partners (JH&P) has recruited Asia specialist Camilla Cecil from Hong Kong, where she was deputy fund manager of the Ruffer Pacific fund. Cecil spent six years at Ruffer LLP, the last two working alongside the firm’s Head of Asia in Hong Kong, from where she made regular company visits across - [Reflecting on the market turmoil](https://www.jameshambro.com/reflecting-on-the-market-turmoil/) - Last week equity markets experienced a sharp fall that created headlines around the world. A few days later they had recovered most of the losses, leaving many investors to wonder what happened and why. We are seeing the beginning of the final phase of the equity bull market that began in March 2009. In the - [China's industrial transformation](https://www.jameshambro.com/china-industrial-transformation/) - As we bid farewell to the Year of the Rooster and raise a toast to the Year of the Dog, our Asia analyst and Portfolio Manager, Camilla Cecil, draws on her recent experience of living in Hong Kong and company visits to mainland China to explain just how much the Chinese economy is changing. The - [Northern Rock 10 years on – are our banks any stronger?](https://www.jameshambro.com/northern-rock/) - A British bank is run with precision A British home requires nothing less Tradition, discipline and rules must be the tools Without them – disorder, chaos, moral disintegration In short, you have a ghastly mess! These prophetic words, sung by Mr Banks, prefaced a comical scene in the film Mary Poppins when a misunderstanding over - [What will kill this bull market?](https://www.jameshambro.com/what-will-kill-this-bull-market/) - The bull market has just entered its tenth year – one of the longest since WWII, but far from the strongest. Does that mean it still has legs or is the end of the economic cycle nigh? Portfolio Manager Mark Leach shares his thoughts. The traditional adage amongst investment professionals is that bull markets very - [Trade wars and technology – market commentary Q1 2018](https://www.jameshambro.com/trade_technology/) - “The way to prosperity for all nations is rejecting protectionist legislation and promoting fair and free competition”, Ronald Reagan in a radio address to the nation, 25 April 1987 Free market economists have long espoused the risks that protectionist policies bring to the global economy; as each state responds the collective result is to lower - [Another prestigious award win for James Hambro & Partners](https://www.jameshambro.com/another-award/) - James Hambro & Partners (JH&P) has enjoyed another successful year in the prestigious Private Asset Managers (PAM) Awards, winning the top prize for quality and clarity of reporting (non-custodian) and earning two finalist spots for client service quality and the performance of its growth portfolios. It is the fourth year in a row that JH&P - [History is repeating itself](https://www.jameshambro.com/history-is-repeating-itself/) - Sixty years ago, on 1 May 1958, Noel Coward wrote in his diary: “It is hard to imagine, considering the inherent silliness, cruelty and superstition of the human race, how it has contrived to last as long as it has. The witch-hunting, the torturing, the gullibility, the massacres, the intolerance, the wild futility of human - [James Hambro & Partners announce Greenhouse Sports partnership](https://www.jameshambro.com/greenhouse-sports-partnership/) - James Hambro & Partners has joined forces with Greenhouse Sports by becoming an official partner to the London-based charity, which provides inspirational coaching and mentoring within schools to young people from some of the most deprived and vulnerable backgrounds in the city. Through a range of programmes across a variety of sports, Greenhouse Sports’ coaches - [Financial steps to prepare for dementia challenge](https://www.jameshambro.com/prepare-for-dementia/) - Close to 850,000 people in the UK suffer from dementia and the figure is set to rise to two million by 2050. It’s a daunting prospect but you can plan ahead and mitigate some of the problems you might encounter if you're unfortunate to have to grapple with the effects of dementia. Prepare for dementia - [Why markets rollercoaster](https://www.jameshambro.com/why-markets-rollercoaster/) - New research in the US, just published in the journal “Chaos”, has uncovered why investing in the markets can be a rollercoaster ride. A team of researchers at the American Institute of Physics built a model incorporating some of the latest understanding of chaos theory to simulate asset prices in what they call “bifurcation conditions” - [Why cash-rich Japan looks tempting](https://www.jameshambro.com/why-cash-rich-japan-looks-tempting/) - Corporates in Japan remain awash with cash. A staggering 56.3% of non-financial companies listed on the Tokyo Stock Exchange (TOPIX) are sitting on net cash balances (see Figure 1), compared with just 18-20% for those on corresponding indices in the US and Europe. Putting balance sheets to work Attempts by the Bank of Japan to - [Meet Rosie Bullard – international stock specialist](https://www.jameshambro.com/meet-rosie-bullard-international-stock-specialist/) - Rosie Bullard joined James Hambro & Partners in 2013. She is involved in UK and international stock selection, is a member of the Asset Allocation Committee and was made a partner in 2016. Here she talks about how she looks after clients, what makes a good portfolio manager and how the wealth management industry is - [James Hambro & Partners sponsors the Marketors Fellowship Golf Day 2018](https://www.jameshambro.com/james-hambro-partners-sponsors-the-marketors-fellowship-golf-day-2018/) - James Hambro & Partners joined forces with the Worshipful Company of Marketors to sponsor their annual golf day at Verulam Golf Club in Hertfordshire. On 2nd July, a day when the temperature felt more St Lucia than St Albans, James Hambro & Partners sent its finest golfing talent to tee off against 20 livery companies. - [How will we pay for NHS commitments?](https://www.jameshambro.com/how-will-we-pay-for-nhs-commitments/) - The Office for Budget Responsibility (OBR) announced this week that meeting the government’s commitment to pay £20.5bn extra a year towards the NHS by 2023 could lead to significantly higher taxes. Our own analysis had reached a similar conclusion. Recent surveys suggest that the majority would be prepared to pay an extra penny in the - [Global markets – too good to last? Market commentary Q2 2018](https://www.jameshambro.com/global-markets-too-good-to-last-market-commentary-q2-2018/) - “What is beginning to worry some of us is, ‘Is it too good to be true?’ or perhaps I should say ‘Is it too good to last?’” Harold Macmillan July 1957 By John Langrish Prime Minister Harold ‘Supermac’ Macmillan was speaking in July 1957 during a booming post-war global recovery, when Britain was enjoying a - [JH&P summer reads 2018](https://www.jameshambro.com/jhp-summer-reads-2018/) - Holidays are vital to ensuring we are at the top of our game (according to Alex Soojung-Kim Pang, author of “Rest – why you get more done when you work less”.) We thought our clients might like to know what some of our team have been reading – or are packing in their suitcases for - [James Hambro research on student loans](https://www.jameshambro.com/james-hambro-research-on-student-loans/) - The new university term starts soon and in many households there will be sharp intakes of breath as parents and students begin totting up the costs. What help does your child (or grandchild) get with funding and how much should you commit to support them financially? Tuition fees in England are now up to £9,250 - [James Hambro & Partners pick Cherry to expand geographical reach](https://www.jameshambro.com/paul-cherry/) - James Hambro & Partners (JH&P) has recruited industry veteran Paul Cherry to extend its coverage in the North of England. Cherry, who has worked for Quilter Cheviot for nearly 20 years as a Business Development Director, will join JH&P in December. He will reunite with Quilter’s former head of sales, Glenn Hawksbee, who joined JH&P two - [Save As You Earn – a smart idea?](https://www.jameshambro.com/saye/) - Last month Tesco and BT workers in their employers’ maturing Save As You Earn (SAYE) schemes had a decision to make. It wasn’t a difficult decision. For three years they had been saving up to £500 a month out of their pay packets into these schemes. Each offered them the chance on the scheme’s maturity - [JH&P team overcomes the elements in 177-mile run challenge](https://www.jameshambro.com/177_mile_run/) - A ten-strong team from wealth manager James Hambro and Partners (JH&P) fought through sleep deprivation and harsh weather to complete the 177-mile Ragnar relay run on Sunday 23 September, raising over £5,000 for the charity ‘Greenhouse Sports’. Ragnar is a series of relay runs held across the world in places of natural beauty. The ‘White Cliffs’ run - [Market commentary Q3 2018](https://www.jameshambro.com/market-commentary-q3-2018/) - "Let’s Make America Great Again" – Ronald Reagan’s presidential campaign slogan, 1980 Ronald Reagan was elected in November 1980, after conducting his campaign against a backdrop of domestic economic malaise, the Iranian hostage crisis and a deteriorating relationship with the Soviet Union. After a series of energy crises during the 1970s, America was suffering from - [Should we be worried by Brexit deadlock?](https://www.jameshambro.com/brexit-deadlock/) - Brexit campaigners promised us a financial nirvana if we left the EU. The Remain camp painted a Dante-esque picture of Britain sinking into economic squalor. We find ourselves somewhere in between these two extremes – Brexit purgatory. But this is certainly not hell and it is worth reminding ourselves of that fact, lest we become - [Budget 2018 – Cautious Hammond’s Handouts](https://www.jameshambro.com/budget-2018/) - “The era of austerity is over" and "hard cash for the hard working British people” were the recurring motifs of this year’s budget. The Chancellor’s long list of giveaways came to a £30bn commitment by 2024, two thirds of which is going on fulfilling the NHS promises. The Chancellor was quick to redistribute the gift - [Are Trump’s tariffs hurting China?](https://www.jameshambro.com/tariffs-hurting-china/) - Donald Trump’s rhetoric on trade tariffs has been a key factor behind market jitteriness in recent months. The sell-off in October was exacerbated by the US 10 year Treasury yield reaching 3.23% on 5thOctober, the highest level since mid-2011, which promptly saw a re-pricing of risk. Last week, only a few days ahead of the - [Scam alert – beware unsolicited contact from people claiming to be us](https://www.jameshambro.com/dont-let-a-scammer-enjoy-your-retirement/) - If you are approached by someone claiming to be from James Hambro & Partners and are concerned about their authenticity, please contact your investment manager. If you are not a client but have been contacted by someone you suspect is not from the firm, please contact us. Scam attempts by fraudsters posing as legitimate financial firms - [A wounded bull?](https://www.jameshambro.com/a-wounded-bull/) - Bull markets are said to climb a wall of worry, and with this one now approaching its tenth birthday, the wall became steeper in 2018. Markets are a highly sensitive barometer of the aggregate investor mood: prices reflect the future expectations of growth and income. At this point in the cycle, when investors are feeling jittery, - [Santa and the yield curve](https://www.jameshambro.com/santa-rally/) - In 17 of the past 20 years the FTSE 100 has stood higher on New Year’s Eve than at the beginning of the month, when people began opening their advent calendars. One suggested explanation for the pattern is that it is simply the result of bullish investors imbued with festive optimism. Another is that an influx - [Automated trading strategies and the risk of FAANGs biting](https://www.jameshambro.com/automated-trading-strategies-and-the-risk-of-faangs-biting/) - Jamie Hambro, Chairman of James Hambro & Partners, outlines why he is worried about the growth of automated investment trading strategies. The popular film The Big Short, which chronicles the 2008/9 crash, opens with a quote attributed to Mark Twain: “It ain’t what you don’t know that gets you into trouble. It’s what you know - [Tips for your tax return](https://www.jameshambro.com/tax-return-tips/) - Last year nearly 750,000 people missed the deadline for filing in their tax return – potentially having to pay a £100 fine. Just over 30,000 filed in the final hour. One of the dangers of leaving it to almost literally the last minute is that you increase the likelihood of overpaying tax. Taking advantage of - [Avoid financial pitfalls of later life romance](https://www.jameshambro.com/later-life-romance/) - As we live longer a growing number of older people are making fresh starts in life in their 60s and beyond and rediscovering companionship and love. There are a number of key financial planning issues for older couples getting together to consider to ensure they benefit from all the available tax breaks and protect themselves - [JH&P marks Time to Talk Day](https://www.jameshambro.com/time-to-talk/) - James Hambro & Partners is pleased to be supporting Time to Talk Day 2019 and is organising activities to encourage more open discussion about mental health. The event, now in its sixth year, is organised by the charity Time to Change to help challenge mental health stigma. Communities around the country are being encouraged to host - [Meet Mark Leach, Head of International Equities](https://www.jameshambro.com/meet-mark-leach/) - Mark Leach studied history at Edinburgh before moving into the asset management industry. He joined James Hambro & Partners (JH&P) in 2014 and is Head of International Equities. Here he tells us why history helps in managing client money and how JH&P decides what goes into client portfolios. Is history a common degree for a - [FCA steps up Scamsmart campaign with clone warning](https://www.jameshambro.com/fca-clone-warning/) - The Financial Conduct Authority (FCA) has warned people to be extra vigilant to the threat of investment scammers after victims lost over £197 million in 2018 – £29,000 each on average. It says scammers are becoming ever more sophisticated, targeting victims with professional looking websites and messages through social media channels, like Facebook and Instagram. The - [JH&P wins People's Choice Award for service](https://www.jameshambro.com/jhp-wins-client-service-award/) - James Hambro & Partners (JH&P) has won a People’s Choice Award for exceptional client service from one of the wealth management industry’s leading experts. Findawealthmanager.com, which helps to match investors with the best fitting wealth management service, highlighted JH&P as one of six wealth managers to meet their most exacting standards. It said the firm “excelled - [The role of gold in investment portfolios](https://www.jameshambro.com/gold-in-investment-portfolios-2/) - It has been claimed that in Roman times an ounce of gold would buy you a toga. A toga is made of up to six metres of woollen cloth (which is even more than in a modern three-piece suit) and cloth was an expensive commodity then. Today an ounce of gold is worth just under - [Recession Watch - Quarterly Comment](https://www.jameshambro.com/quarterly-comment-recession-watch/) - “Good times like the present, make bad times; a law sure as the swing of a pendulum.” Henry Phipps (from Henry Clay Frick, the Man, by George Harvey) Recessions are inevitable “Asset prices can go down as well as up”. As a regulatory requirement, this caveat, or similar, can be found on most investment literature - [Applying Shariah principles to investment portfolios](https://www.jameshambro.com/applying-shariah-principles-to-investment-portfolios/) - Increasingly we find that investors want to incorporate ethical considerations within their portfolios. Ramadan, which drew to a close this week, reminded us of our growing number of clients who have an awareness of Shariah law when investing their capital. With an increasing amount of wealth being invested outside of the Middle East and by - [Meet Mark Richmond-Watson, Portfolio Manager](https://www.jameshambro.com/meet-mark-richmond-watson/) - Mark Richmond-Watson is part of our fund selection team and a specialist in UK equities. A keen amateur jockey who has raced at Ascot in front of the Prince of Wales, here he explains what makes a good fund manager and why choosing funds is like picking a winning racehorse. A distinctive feature of James - [Help, I’m an American in Britain!](https://www.jameshambro.com/americans-tax-expats/) - Tens of thousands of Americans and their families living in Britain are caught each year in a tangle of tax rules that gets ever more complex. Many may not even realise they owe to the American tax authorities. Rosie Bullard, who has been developing a new investment service for Americans at JH&P, explains. Only two - [Why has gold risen so sharply?](https://www.jameshambro.com/rising-gold-price/) - In the past month the spot price of gold has risen from $1288 to $1402 an ounce – up 9%. There are a number of reasons for that. Geopolitical uncertainty has increased – we have got the tensions with Iran and who knows what will happen between China and the US? The other big factor - [Why we meet company management](https://www.jameshambro.com/why-we-meet-company-management/) - For many investors, meeting company management has become unfashionable. Slickly choreographed executives are viewed as sticking so closely to the script that they leave no room to read between the lines. Worse still, sceptics fear that meetings can allow emotions to overrule ‘the facts’, with unwary investors sucked into ill-fated ventures based on nothing more - [The benefits of a broader view](https://www.jameshambro.com/broader-view-benefits/) - “To get there, I wouldn’t start from here.” Anon There’s no place like home When it comes to investing, people often prefer to remain close to home. This “home bias”— the tendency for investors to overweight their portfolios to their own country relative to global benchmarks – was somewhat understandable in the past when company - [JH&P named "Wealth manager of the Year"](https://www.jameshambro.com/jhp-wealth-manager-of-the-year/) - James Hambro and Partners has been named ‘Wealth Manager of the Year’ at the highly-regarded Portfolio Adviser Wealth Manager Awards. It also earned the top ‘platinum’ award for its Cautious strategy and ‘gold’ for its Aggressive strategy in the large portfolio manager category. Host and Portfolio Adviser Editorial Director Dylan Emery acknowledged the firm’s consistency - [The risks of sharesave schemes](https://www.jameshambro.com/sharesave-schemes/) - This month 25,000 Asda staff expect to share in a £62m windfall thanks to their participation in the retailer’s sharesave scheme. Recently released figures from HMRC show that 13,330 companies operated Employee Share Schemes in 2017/18 (up 12% on the previous year). SAYE or “sharesave” is the most popular format in terms of money invested. £1.77bn - [Do high taxes work?](https://www.jameshambro.com/do-high-taxes-work/) - The crowning of Boris Johnson last month and his radical government shuffle position the Conservative party further to the right and put it in even sharper contrast with Jeremy Corbyn’s Labour. Many commentators are speculating that if Johnson cannot steamroller his EU counterparts into making fresh concessions and he struggles to win the necessary Parliamentary - [JH&P summer reads 2019](https://www.jameshambro.com/jhp-summer-reads-2019/) - There are plenty of keen readers at JH&P, and there are few better times to open a new book than by the pool or a sandy beach. So, we have asked some of the team to give us their ‘summer reads’ recommendations for what you should be packing in your suitcase. Penny Kunzig, Partner My - [Should you pay all your child's university costs?](https://www.jameshambro.com/funding-children-at-university/) - As the start of the new university term looms many parents and grandparents may be looking at the debts their loved ones are about to start accruing and wondering how they might help. Funding university The days of students having a free university education and subsistence grants are long gone. Today’s students are expected to - [Should you sell your buy-to-let property?](https://www.jameshambro.com/buy-to-let/) - When Capital Gains Tax (CGT) receipts broke records last year many commentators blamed it on disenchanted buy-to-let landlords cashing in their profits. Many buy-to-let investors are asking their financial advisers whether the buy-to-let bonanza is over. Since the early 2000s “bricks and mortar” was seen by many people as the only safe investment. It was - [ESG: Embracing sustainability](https://www.jameshambro.com/esg-sustainability/) - “Improving the quality of life without borrowing from the future is the single largest investment opportunity in history.” Al Gore Increasing awareness and understanding of the impact humans are having on the planet is driving a significant change in consumer behaviour, supported and facilitated by shifting political and regulatory priorities. At James Hambro & Partners - [JH&P enjoys record year for awards](https://www.jameshambro.com/record-awards-year/) - James Hambro and Partners (JH&P) has had its best ever year in the industry awards season, scooping three “best manager” titles and six awards in total. It was named ‘Wealth Manager of the Year’ at the Portfolio Adviser Wealth ManagerAwards, ‘Boutique Investment Manager of the Year’ in the Charity Times Awards and ‘Best Overall Medium - [Is there a magic money tree?](https://www.jameshambro.com/magic-money-tree/) - After weeks of prevarication we are now back in election mode – one where nearly all parties are promising to spend, spend, spend. But where is the money coming from? Labour like many Democrats in the US, is drawn to funding spending plans not by the traditional modes of taxation or borrowing, but by something - [22 years’ savings gone in a day – scams warning](https://www.jameshambro.com/scams-lifetime-savings-gone-in-day/) - Victims of pensions saving scams can lose the equivalent of 22 years’ savings in 24 hours. And education is no protection, experts have warned. The warning comes after new research shows how being too trusting can end retirement dreams when individuals are persuaded to make quick decisions by scammers. The study, by the industry regulator, - [Moves to improve active investment performance](https://www.jameshambro.com/active-management/) - Professional advisers and investors are under more pressure than ever to give up on managers who carefully pick stocks. They are encouraged to opt instead for cheaper funds that simply track an index (like the FTSE 100). It is estimated that more than $30bn was pulled out of actively managed funds in the first six - [Actions to consider around Capital Gains Tax](https://www.jameshambro.com/capital-gains-tax/) - Amid all the focus on income tax, one tax that has gone under the radar in the current election is Capital Gains Tax (CGT). Labour makes no mention of it in its main manifesto, but within its costing document it tells us it plans to bring CGT and treatment of dividends in line with income - [Give and receive this Christmas](https://www.jameshambro.com/how-gift-aid-works/) - I can remember no election that left so many people worrying about tax raids on their hard-earned savings. It coincided with the festive season, when we should be thinking not of protecting our wealth but of sharing it. Though many do not realise it, HMRC seems to have taken to heart the gospel principle of “give - [2030 vision: what lies ahead](https://www.jameshambro.com/2030-vision-what-lies-ahead/) - At this time of year many fund managers look into their crystal balls and make predictions for the 12 months ahead. But we encourage investors to have longer horizons. Should we not be looking further ahead at the changes that will impact over the long term? The next decade will bring huge change and some - [JH&P hires new team and opens first regional office](https://www.jameshambro.com/leeds-office/) - James Hambro & Partners has recruited experienced investment managers Aidan Butler and Ed Marsden from Aberdeen Standard Capital – the wealth arm of the Aberdeen Standard Life Group. The duo will set up a new office in Leeds. It will be the first regional office for JH&P, which has its headquarters on London’s Pall Mall. Aidan - [Are pension benefits ripe for picking?](https://www.jameshambro.com/pension-benefits/) - Speculation is mounting that the Chancellor is planning to squeeze some of the generosity out of the current pensions regime by cutting high earner relief to 20%. There is a long history of Chancellors (and 10 Downing Street spin doctors) leaking unpleasant news to see how strong the reaction is. If there is widespread anger, - [Should you marry in secret?](https://www.jameshambro.com/marry-in-secret/) - It used to be that couples were embarrassed to be living together unmarried. Today a growing number of couples are harbouring a deeper secret. They have furtively wed without telling anyone. There are many reasons why couples opt to marry in secret. Around 3.8 million unmarried couples live together in the UK – one in five - [Budget comment](https://www.jameshambro.com/budget-comment/) - Responding to the 2020 spring budget, Sean Jones, said: "The Chancellor spoke a lot about getting things done, but in personal finance terms, this was perhaps not surprisingly a ‘do very little’ budget. Junior ISAs “The increase in the Junior ISA allowance from £4,368 to £9,000 next month didn’t even make the speech, thanks to - [Coronavirus update – latest thoughts](https://www.jameshambro.com/coronavirus-update3/) - The word ‘unprecedented’ has been used so often in recent weeks that it would be reasonable to assume that even the most measured writers and commentators had succumbed to hyperbole. But it is hard not to be left open-mouthed by the scale, speed and breadth of events that we have seen across the world. The - [Managing retirement income in a crisis](https://www.jameshambro.com/retirement-cash-in-crisis/) - Ancient Rome is an unusual source of inspiration for surviving a financial crisis, but those in retirement considering selling risk assets – and particularly equities – might want to pause to think about Marcus Licinius Crassus. Crassus was the wealthiest man in Rome. Much of his wealth came from his unusual model for building a - [Death of a bull](https://www.jameshambro.com/quarterly-comment-april-2020/) - Last quarter’s commentary began with a quote from Citigroup’s Chief Strategist, Tobias Levkovitch, who stated that almost all expansions were ultimately killed by the actions of the US Federal Reserve. He was wrong, the Fed is in the clear, as responsibility for the death of the longest economic expansion on record can be laid firmly - [Avoiding liquidity icebergs](https://www.jameshambro.com/liquidity-icebergs/) - A decade ago it was a lack of liquidity that froze the world’s financial system. Last year the liquidity iceberg brought an end to Neil Woodford’s fund management venture and struck the £2.5bn M&G property fund, which was forced to ban withdrawals. To most investors, “liquidity” comes down to a simple question: “Can I turn - [Tax returns – last minute tips](https://www.jameshambro.com/last-minute-tax-tips/) - This is the week when millions of Britons race to meet HMRC’s deadline for submitting their online self-assessment tax returns. On past evidence around 750,000 will not pass the finishing post in time. Around 30,000 will be sweating the hour before the midnight deadline to get their returns in. It is a busy time for - [Why this bull market still has legs](https://www.jameshambro.com/bull-market-legs/) - “Business cycles don’t die of old age, they are murdered by the Fed or some exogenous shock” – Tobias Levkovich, Chief Investment Strategist at Citigroup Twelve months ago, the market was in the grips of a near death experience. The US Federal Reserve’s attempts to normalise monetary policy, raising interest rates on four occasions in 2018, - [JH&P wins Professional Adviser Award](https://www.jameshambro.com/jhp-wins-professional-adviser-award/) - James Hambro & Partners has started the year in the same way as it ended the last – with another industry prize. It was named best Discretionary Fund Manager at last night’s Professional Adviser Awards. The awards were judged by a panel of 24 senior experts from across the industry, led by Professional Adviser Editor, - [Coronavirus update - March 20th](https://www.jameshambro.com/coronavirus-and-markets/) - In this update, JH&P’s Head of Investments, James Beck, looks at the factors driving extreme market movements and asks whether we are witnessing a short sharp shock or the start of a prolonged slowdown. Markets deteriorated significantly at the start of this week, less than a month afer reaching new highs. This is despite signs - [Quality – through thick and thin](https://www.jameshambro.com/quality-versus-value/) - “If anything kills over 10 million people in the next few decades, it’s most likely to be a highly infectious virus rather than a war… We are not ready for the next epidemic.” Bill Gates, TED Talks, 2015 The speed and extent of the market correction in March were unprecedented. Between 21st February and 23rd - [Beware the Covid scammers](https://www.jameshambro.com/beware-the-covid-scammers/) - The financial services regulator, the Financial Conduct Authority (FCA), has warned that fraudulent activity has increased during coronavirus lockdown as scammers exploit people’s vulnerabilities and isolation to steal from them. In one week alone recently the FCA revealed that 11 firms had been cloned – with fraudsters cold-calling or writing to people, pretending to - [How to help charities in Covid crisis](https://www.jameshambro.com/charities-giving/) - Many charities are struggling in the wake of Covid-19. As we have observed before, the current tax regime allows high earners to give and receive at the same time. Gift aid Gift aid allows charities to reclaim the basic rate of tax on every £1 you donate. Though the basic rate of tax is - [Response and responsibility](https://www.jameshambro.com/responsibility/) - We believe good corporate governance is a necessity for sustainable growth, and no time highlights the critical nature of stewardship better than now. Sarah Goose explores how Covid-19 is separating the winners from the losers, and those whose concerns stretch beyond just shareholders to include all stakeholders. “Entering into a crisis is not the - [JH&P hires former Aberdeen Standard charity head](https://www.jameshambro.com/jhp-hires-former-aberdeen-standard-charity-head/) - James Hambro & Partners has enhanced its charity team with the recruitment of portfolio manager Patrick Trueman. Trueman, who was former head of charities at Aberdeen Standard Capital and a fund manager at Newton Investment Management, will work closely with JH&P’s charity head, Nicola Barber. He said: “I’m genuinely delighted to be joining a growing - [The dividend income challenge](https://www.jameshambro.com/dividends-challenge/) - In our first-quarter commentary, we highlighted the likelihood that dividends would be lower this year than in the past, another casualty of the ongoing coronavirus. Here we examine the question of income more closely and outline our approach to finding sustainable growth. Coronavirus: problems incoming While any coronavirus downturn may prove short-lived, it is likely - [The dividend income challenge for charities](https://www.jameshambro.com/charity-dividend-income/) - The coronavirus has effectively halted swathes of the global economy. Charities have seen their income slashed – it is estimated that the sector will miss out on at least £4.3 billion in Q2 this year. And those who rely on the dividends generated by their investment portfolios are suffering further. To date, over 60% of - [Nobody said it was easy – Coronavirus update](https://www.jameshambro.com/nobody-said-it-was-easy-coronavirus-update/) - Not many would have included a global pandemic, the lockdown of over half the world’s population and a shut-down of large sections of the economy as realistic risk factors to be considered entering 2020. A 50%+ drop in the oil price following a breakdown in negotiations between Saudi Arabia and Russia added further fuel to the - [A 10-step financial fitness workout](https://www.jameshambro.com/financial-fitness/) - A version of this piece first appeared in the Financial Times on June 3 2020. Move over, Joe Wicks. The health guru’s online exercise classes may have got the nation moving under lockdown, but if my client conversations are any guide, households are also playing close attention to financial fitness. The following regime will - [The price of the pandemic](https://www.jameshambro.com/price-of-pandemic/) - Journalists and historians are already busy compiling books on the story of the Covid-19 crisis. The first few chapters have probably been drafted, and – depending on the author’s perspective – blame for policy mistakes has been attributed to politicians, advisers (one in particular, perhaps) and scientists. What few can disagree over is that there - [Will the next black swan be green?](https://www.jameshambro.com/will-the-next-black-swan-be-green/) - The Covid-19 pandemic is arguably one of those 'Black Swan' events that spring upon us unexpectedly. As governments and central banks scrabble to address the extraordinary impact the virus is having on humanity, societies and economies, we continue to be reminded of another impending threat – climate change. Will the next black swan be green? - [Shock therapy for the UK economy](https://www.jameshambro.com/summer-update/) - This summer update was the Chancellor’s attempt to apply a defibrillator to the UK economy. Rishi Sunak set out the scale of the challenge facing him. In the past two months the UK has contracted 25%, the same amount it grew in the previous 18 years. Research recently published by Bank of America Securities suggested - [Quarterly Comment – July 2020](https://www.jameshambro.com/quarterly-comment-july-2020/) - It was the worst of times, it was the best of times Rather than a tale of two cities, for investors 2020 has very much been a tale of two quarters. With barely a moment to draw breath following the swiftest 30% fall in market history, which reached its trough on the 23rd March, major - [To Wuhan and back](https://www.jameshambro.com/wuhan-and-back/) - Keeping team spirits up during lockdown has been a challenge for many businesses and organisations and JH&P is no different. I have been delighted at the way the team has responded to the difficult circumstances of the past few months. Clients have been our first priority, always. But our teams have been looking after each - [JH&P summer reads 2020](https://www.jameshambro.com/good-books-2020/) - Even if the pandemic has disrupted your travel plans, we hope you plan to take a break this summer. What better way to enjoy a staycation than kicking back with a good book? We asked some of the team at JH&P for recommendations. Below you will find a selection of books they have enjoyed and - [Student finance - a tough financial lesson](https://www.jameshambro.com/student-finance-a-tough-financial-lesson/) - A version of this piece first appeared in the Financial Times on August 5 2020 This year thousands of students are receiving their results for A-levels awarded in the most extraordinary of circumstances. Because of Covid-19 and school closures, students did not have to sit exams but are being judged on coursework and teacher assessments - [NS&I cuts: Where next for your cash?](https://www.jameshambro.com/nsi-where-next-for-cash/) - The Treasury-backed National Savings & Investments (NS&I) has announced drastic cuts to the rates of interest it offers. For its 25 million customers this raises a serious question: should you move your money? NS&I has long been a natural home for cash savings – some accounts pay gross and you do not have to worry - [Is your ESG capital at extra risk?](https://www.jameshambro.com/esg-risk/) - Many ESG funds have performed remarkably well this year. This achievement has increased awareness about the role investments can play in combatting climate change and protecting biodiversity. However, investors should be mindful that there can be more risk to some ESG funds than meets the eye. Interest in the sector persisted even at the peak - [When are you going to retire?](https://www.jameshambro.com/when-to-retire/) - A version of this piece first appeared in the Financial Times on 24 September 2020. It is nearly three decades since a modest bespectacled rocket scientist from California told us how to launch into retirement safely. Bill Bengen, who switched careers from aeronautics to financial planning via a 17-year spell bottling soft drinks, spent thousands - [Brilliant Breakfast – JH&P team supports Prince’s Trust initiative](https://www.jameshambro.com/brilliant-breakfast/) - JH&P staff are joining people all over the country for The Brilliant Breakfast, an event organised by the jewellery designer and entrepreneur Annoushka Ducas MBE to raise money for The Prince’s Trust Women Supporting Women initiative. The initiative aims to change the lives of young women by nurturing, empowering and inspiring them to build their - [Coping with redundancy](https://www.jameshambro.com/coping-with-redundancy/) - Around half a million people in the UK are expected to lose their jobs this autumn, according to the Institute for Employment Studies. Redundancy is often a cue for writing a frenzy of job applications. Certainly, it is important for most people to find a new job as soon as possible. It is a time - [Tax-free lump sum inequality](https://www.jameshambro.com/tax-free-lump-sum/) - Thousands of retirees in final salary pension schemes are making costly decisions on whether to take up their option of a 25% tax-free lump sum because of poor information and lack of advice. From the age of 55 pension savers can take 25% of their pension pot in tax-free cash. For those on ‘defined contribution’ - [James Hambro & Partners: The challenges of looking after US clients](https://www.jameshambro.com/us-clients/) - Introduction ARC’s consulting, research and reports are designed to help investors and advisers make informed decisions. There are many challenges facing US-connected investors – and especially for families domiciled internationally and with assets held in multiple jurisdictions. In this Q&A, based on a recent webinar for an audience of advisers, ARC’s Chris Curtis asks leading - [The long and winding road – Q3 comment](https://www.jameshambro.com/quarterly-comment-october-2020/) - Whilst the summer lasted, a recovery seemed here to stay. As governments shifted from propping up economies to lifting restrictions, the optimism that Coronavirus would prove short-lived gained momentum as consumer and business confidence was helped by hopes for a vaccine by Christmas. Global equities captured the mood, reaching fresh all-time highs by early September, - [JH&P supporting Future Frontiers](https://www.jameshambro.com/jhp-supporting-future-frontiers/) - Members of the JH&P team have begun volunteering as coaches for the Future Frontiers programme, which offers young people from disadvantaged backgrounds careers guidance and access to professional role models. Even today, parental income is still the strongest indicator of academic performance and future earnings. Children from low-income families are half as likely to go - [Optimism in the face of division](https://www.jameshambro.com/us-elections/) - The US Presidential and congressional elections have provided all the drama many expected and are certain to provide plenty more as the story moves from the ballot box to the courtroom. The results were proof again of, as if needed, the folly of relying on pollsters given their collective record since Brexit. At the time - [Low-carbon world webinar](https://www.jameshambro.com/low-carbon-webinar/) - If you missed this webinar you can view it here. Or you can read our write-up. Hear leading experts from the US and UK discuss the investment opportunities and risks presented as a growing number of countries transition to a low-carbon world. Thursday 19th November 2020 – 1500 to 1615 Guest speakers Professor Doyne Farmer, Baillie Gifford - [ESG round-up October](https://www.jameshambro.com/esg_oct_20/) - Our round up of recent events in the world of sustainable investing DECARBONISATION PRI publishes report on negative emission technologies The report predicts that Negative Emission Technologies (NETs) will become the next investment frontier, with the potential to offer trillion-dollar upside for investors. NETs are technologies that can remove CO2 emissions from the atmosphere. There - [How will a Covid vaccine change markets?](https://www.jameshambro.com/vaccine/) - Pfizer’s announcement of the success of its SARS Covid-19 vaccine trial was – pardon the pun – a shot in the arm for markets. It was also a reminder of distortions in positioning and sentiment. The moves on the day highlighted the opportunities to buy companies that have seen demand collapse but which have the - [Where next for big oil?](https://www.jameshambro.com/peak-oil/) - The long-term investment case for owning integrated oil companies – those that operate across the entire petroleum value chain from rig to pump – is fraught with challenges. In the wake of the pandemic, global oil demand is expected to fall this year by a record 9.3 million barrels a day. That is the equivalent - [ESG round-up October](https://www.jameshambro.com/esg-round-up-october-20/) - Our round-up of recent events in the world of sustainable investing DECARBONISATION PRI publishes report on negative emission technologies The report predicts that Negative Emission Technologies (NETs) will become the next investment frontier, with the potential to offer trillion-dollar upside for investors. NETs are technologies that can remove CO2 emissions from the atmosphere. There are - [Mark Leach appointed partner at James Hambro & Partners](https://www.jameshambro.com/mark-leach-partner/) - Wealth manager James Hambro & Partners (JH&P) has made Portfolio Manager Mark Leach a partner. Leach joined the business in 2014 and plays a key role in identifying attractive global equities. JH&P is distinctive in building portfolios around a core selection of direct equities rather than funds. JH&P Chairman Jamie Hambro said: “Mark is a - [Betting on green](https://www.jameshambro.com/doyne-farmer/) - In the 1970s, while studying at the University of California, Doyne Farmer made several trips to Las Vegas. He and two fellow physics students had built a tiny computer to help them predict the spins of a roulette wheel. For a couple of years they enjoyed a tidy profit betting on numbers in the part - [Investing for a low-carbon world](https://www.jameshambro.com/investing-for-a-low-carbon-world/) - Investors abandoning fossil fuel stocks need to recognise that obvious low-carbon alternatives, like wind farm companies, carry their own valuation risks, James Hambro & Partners (JH&P) has warned. JH&P Portfolio Manager Mark Leach, speaking during a low-carbon world webinar organised by the wealth manager, said: “Investment managers are moving aggressively away from carbon-intensive stocks and - [ESG round-up – November](https://www.jameshambro.com/esg-roundup-november/) - Change of climate leadership in the US Joe Biden’s election will be a turning point in US climate policy as he vows to “rally the rest of the world to meet the threat”. His appointment of John Kerry as special presidential envoy for climate and Janet Yellen, co-founder of the Climate Leadership Council, as Treasury - [If Father Christmas was a client](https://www.jameshambro.com/if-father-christmas-was-a-client/) - I’m sure Father Christmas has more important things to worry about at this time of year than reducing his tax bill or taking advantage of tax perks before they’re removed by a Chancellor desperate to bring down the national debt. If he was a client, though, what advice would we be giving him today? I - [Investing in infrastructure](https://www.jameshambro.com/infrastructure-investment/) - The loose monetary policy measures employed since the Great Financial Crisis and the huge stimulus injections that governments have applied to cope with the pandemic this year have seen financial markets flooded with cash, which has pushed up equity valuations and left more than $17 trillion of bonds with negative yields. This has raised the - [2021: Year of the electric company car?](https://www.jameshambro.com/electric-car/) - Covid-19 interrupted many things in 2020. One of them was what could have been the year of the electric car. Since April 2020, the tax on all-electric company cars has been zero in the UK. With 50 per cent of new vehicles going to the fleet market, this should have been the industry equivalent of - [History shows a wealth tax will not be a one-off](https://www.jameshambro.com/wealth-tax/) - Some generations are lucky enough to be born in times of relative political peace and a benign economic environment. Those of us who boarded the housing ladder in the ’70s and ’80s have seen our property investments rise dramatically (as our charts show), far outstripping inflation and salary growth. The 1980 Housing Act enabled more - [Sustainable World – Winter 20/21](https://www.jameshambro.com/sustainable-world-winter-20-21/) - Welcome to Sustainable World – our newsletter that addresses some of the issues facing investors looking to invest sustainably. In this edition Patrick Trueman looks at the future for big oil in the transition to a low-carbon world. We have a report on our recent low-carbon world webinar, a roundup of ESG news, and Sarah - [A brighter future? – Q4 comment](https://www.jameshambro.com/a-brighter-future-q4-comment/) - Can there be anyone left who hasn’t helpfully uttered or been the red-faced recipient of that phrase over the course of the last year? It captures not only the extraordinary and unexpected change we have all experienced but also the remarkable speed and resolve with which we have adapted since last March. Forced to substitute - [JH&P to open Edinburgh office](https://www.jameshambro.com/jhp-hires-alex-montgomery-to-open-edinburgh-office/) - James Hambro & Partners (JH&P) has hired 7IM’s former head of wealth management, Alex Montgomery, to head up a new office in Edinburgh. Montgomery was joint CEO at respected Scottish wealth manager Tcam Asset Management, which managed over £1 billion of assets for clients before it was acquired by 7IM in 2018. He left 7IM - [Financial planning for later-life love](https://www.jameshambro.com/later-life-love/) - This piece first appeared in the Financial Times in February 2021 Many of us associate romantic love with our youth. But a growing number find the flames of passion kindled in later life. Around a quarter of a million couples wed each year in England and Wales. Perhaps because we are living so much longer, later-life - [Are ESG investors expecting too much?](https://www.jameshambro.com/esg-expectations/) - Momentum behind corporate climate ambition is building and our expectations are rising in tandem. Where we used to applaud companies that set targets and announced bold intentions, now we require it. In an impatient world it is easy to hope for immediate reform, but this is a marathon with a staggered starting line that makes - [Should I worry about the Lifetime Allowance?](https://www.jameshambro.com/should-i-worry-about-lifetime-allowance/) - It’s one of the most complex tax charges on the records – you virtually need a degree in financial planning to understand it. And it’s slowly creeping up on more people. The Lifetime Allowance is the amount you can accumulate in pension savings over your lifetime without incurring any punitive tax charges. The standard Lifetime Allowance - [Are these stealth taxes?](https://www.jameshambro.com/budget-2021/) - We know the government is racking up a huge debt for its response to Covid-19. We weren’t expecting the bill to land in the Budget, but we know it’s coming. Today Rishi Sunak began to flag up who will pay for it and how. First, let’s look at the debt. Borrowing is at its highest - [Leeds expansion and new senior hires](https://www.jameshambro.com/leeds-expansion-and-new-senior-hires/) - Wealth manager James Hambro & Partners strengthens Leeds team with new hire and appoints a new head of marketing and UK business development James Hambro & Partners has added to its team in Leeds with the hire of investment manager Ed Binks from Aberdeen Standard Capital. He joins investment managers Aidan Butler and Ed Marsden - [Covid anniversary – does bond market tumult threaten market recovery?](https://www.jameshambro.com/bond-market-tumult/) - The first confirmed case of Coronavirus in the UK was on January 29th 2020, when a Chinese student in York and his mother, recently arrived from Wuhan, called the NHS to report flu-like symptoms. Just five weeks later the contagion reached the financial markets. March 2020 saw the fastest bear-market drop in Wall Street’s history. - [What is the future for traditional income investors?](https://www.jameshambro.com/income-investors/) - As the seismic waves of the Coronavirus pandemic crashed over the UK economy last year, many companies slashed their dividends. By the end of 2020 the FTSE 100 had seen a total dividend cut of 44%. That compares to just 13% in 2009, during the Global Financial Crisis. Nearly a decade of dividend increases was - [The challenge of funding later-life care](https://www.jameshambro.com/funding-later-life-care/) - This piece first appeared in the Financial Times Few things cause more strife and anxiety among families than decisions about the provision and funding of later-life care. More than 400,000 older people live in care homes, including about one in seven Britons over the age of 85. Many more receive regular care visits, and some - [Our end-of-tax-year tick list](https://www.jameshambro.com/tax-year/) - The end of the financial year is looming. There are several jobs many of us may need to consider before midnight on April 5th (in practice 1st April, given the early Easter this year). Hopefully, this list will help you. ISAs Over 10 million of us subscribe to an ISA each year. The ISA allowance - [The UK’s strange financial year – a taxing problem for Americans ](https://www.jameshambro.com/changing-tax-year-2/) - This piece first appeared in International Adviser As investors and advisers in the UK recover from the annual scrabble to meet all those end-of-financial-year deadlines, it is worth asking why this all had to be done by the apparently random date of April 5th. The UK is the only major country I know not to - [Watch for taper traps that can leave you paying 60% taxes](https://www.jameshambro.com/taper-traps/) - A version of this piece first appeared in the Financial Times Most people think that the highest rate you can pay in income tax is 45%. They are wrong. For some it can reach 60%. Most people think Inheritance Tax (IHT) is charged at 40%. Yet some will pay 60% on part of their estate. - [Market timing and life after lockdown – Q1 report](https://www.jameshambro.com/market-timing-2021-q1-report/) - "When it comes to market timing there are only two sorts of people: those who can’t do it, and those who know they can’t do it. It is safer and more profitable to be in the latter camp.” Terry Smith, Fundsmith Market returns in the last 12 months are evidence enough of the cruelties they can - [The golden age of healthcare innovation](https://www.jameshambro.com/healthcare-investing/) - In our recent webinar, investment specialists shared their views on why the outlook for the healthcare sector is so exciting. In a world gripped by pandemic, leading healthcare businesses have developed vaccines at breakneck pace to offer a way out of the Covid-19 crisis. Despite this awesome demonstration of innovation’s power to change lives, investors - [Tips for charity trustees adopting an ethical investment policy](https://www.jameshambro.com/charity-ethical-investment/) - Many charity trustees are keen for investments to be managed ethically. These questions and tips should help you think about what that means for your organisation. We believe that all money should be invested ‘sustainably’ or ‘responsibly’. You will often see the acronym ‘ESG’ used to describe investing money by these principles. It means incorporating - [JH&P named Impact/ESG manager of the year](https://www.jameshambro.com/jhp-named-impact-esg-manager/) - James Hambro & Partners has been named as Impact/ESG Manager of the Year in the Citywealth Magic Circle Awards. It also took the silver prize as Financial Advisory Firm of the Year. The award recognises how sustainability is embedded within the JH&P investment process. James Beck, Partner and Head of Investments, said: “The melting of - [Rosie Bullard named in Citywire Wealth Manager Top 100 2021](https://www.jameshambro.com/rosie-bullard-named-in-citywire-wealth-manager-top-100-2021/) - [Don’t run scared of lifetime allowance limits](https://www.jameshambro.com/lifetime-allowance-limits/) - In the piece, which first appeared in the Financial Times, Charles Calkin looks at what investors at risk of breaching the pensions lifetime allowance (LTA) should take into consideration. In the past few weeks I have had two clients pay tax charges running into hundreds of thousands for breaching the pensions lifetime allowance. Numbers released - [JH&P wins prestigious PAM award for second year running](https://www.jameshambro.com/jhp-wins-pam-award/) - James Hambro & Partners has won the 2021 PAM Award for Total Wealth Planning. It is the second year running that the wealth manager has taken the prize. The PAM Awards are considered by many to be the toughest in the industry, with nominees required to provide detailed submissions and subjected to intense scrutiny. JH&P - [Can equity release help children and grandchildren climb the property ladder?](https://www.jameshambro.com/equity-release-iht/) - Charles Calkin looks at how you might use equity release to help your children or grandchildren onto the property ladder – and address IHT issues at the same time. A version of this article first appeared in the Financial Times. 4-minute read If house prices had risen in line with inflation during the past 50 - [JH&P announces more senior hires](https://www.jameshambro.com/senior-hires/) - Wealth manager James Hambro & Partners (JH&P) has boosted its team with two senior hires. Aaron McLoughlin has joined as a financial planning director from Rathbones, where he was a senior financial planner. Before that he was head of financial planning at Kleinwort Benson and a member of the Private Client and Advice team at - [Investment update – June 2021](https://www.jameshambro.com/investment-update-june-2021/) - As the global recovery from the health crisis unfolds, we continue to tilt portfolios to companies and sectors that benefit from an opening up of the economy and rising interest rate expectations. Four-minute read Investment outlook Major economies should have returned to their pre-pandemic trajectories by the latter part of this year as vaccination programmes - [How single-premium investment bonds can help with IHT planning](https://www.jameshambro.com/single-premium-investment-bonds/) - Charles Calkin explains how holders of single-premium investment bonds can assign them to loved ones and reduce Inheritance Tax. 4 minute read The tax regime for domestic life insurance companies can often seem very different to that which applies to the rest of us. Life companies have not been slow to exploit this over the - [JH&P joins Institutional Investors Group on Climate Change](https://www.jameshambro.com/jhp-joins-iigcc/) - James Hambro & Partners has become a member of the influential Institutional Investors Group on Climate Change (IIGCC). The IIGCC is the European membership body for investor collaboration on climate change. It brings together more than 300 institutional investment houses from 22 countries, between them responsible for managing over €37 trillion of assets. JH&P Portfolio - [Investment update – July 2021](https://www.jameshambro.com/investment-update-july-2021/) - With the global economy set for its fastest recovery in 80 years, we’re maintaining our positive position in equity to benefit from the improving backdrop. Four-minute read Investment outlook While the economic outlook is improving, the shape of the recovery will depend on the Delta variant and how this affects the emergence from lockdowns. If - [Investment update – August 2021](https://www.jameshambro.com/investment-update-august-2021/) - Four-minute read Filtering out the market noise As governments and central banks start talking about plans to reduce the levels of economic support put in place during the COVID-19 crisis, we could see choppy waters for investors. Loose monetary policy and highly favourable financial conditions, combined with exceptionally low interest rates, have supported asset prices - [JH&P hires Martineau for new Edinburgh office](https://www.jameshambro.com/jhp-hires-martineau-for-new-edinburgh-office/) - Wealth manager James Hambro & Partners has recruited 7IM’s head of financial planning, George Martineau. Martineau, who will become a partner at JH&P, joins his former colleague, Alex Montgomery, in the firm’s new Edinburgh office in Fountainbridge from 1st October. Martineau was a wealth management director at respected Edinburgh-based discretionary asset manager Tcam prior to - [Making our voice heard on climate crisis](https://www.jameshambro.com/making-our-voice-heard-on-climate-crisis/) - By signing the 2021 Global Investor Statement to Governments on the Climate Crisis we’re standing together with our peers to make our voice heard. The initiative is spearheaded by the Investor Agenda, an organisation that brings together the efforts of several groups that work with investors. They’re working hard to provide the best investor guidance - [October investment update](https://www.jameshambro.com/october-investment-update/) - The sugar rush is over – central banks have signalled that the period of maximum support has ended, and monetary policy will be reeled back. As the economy sobers up, where should investors focus their attention? While it might feel like a rather dry topic, monetary policy is of vital interest for markets. Throughout the - [The great biodiversity challenge](https://www.jameshambro.com/the-great-biodiversity-challenge/) - JH&P’s lead on responsible investing Sarah Goose outlines how investors are looking to the lessons learned from tackling greenhouse gas emissions to prioritise biodiversity. If I were to ask you to make a list of the factors threatening our environment and the future of mankind, you’d probably put climate change at the top. But there’s - [Success at the CityWire Investment Performance Awards](https://www.jameshambro.com/success-at-the-citywire-investment-performance-awards/) - We’re thrilled to have won the ‘Best Medium Company’ Award at the 2021 CityWire Investment Performance Awards. Our investment process focuses on a thorough understanding of the companies we invest in and associated risk. In particular we look beyond simple diversification to really understand the risk factors that could affect companies across regions and sectors. - [November investment update](https://www.jameshambro.com/november-investment-update/) - Strong earnings helped keep markets buoyant in October, but the contrast with negative returns in September demonstrated the importance of managing risks effectively. October saw a revival in markets after a more subdued September. The MSCI AC World Index returned 4.7%, compared with -3.4% the month before. This sharp reversal in fortunes could have left - [The financial impact of the coronavirus crisis on the UK charity sector](https://www.jameshambro.com/the-financial-impact-of-the-coronavirus-crisis-on-the-uk-charity-sector/) - “The voluntary sector was particularly badly hit by the COVID-19 crisis. Many organisations faced significant cuts to their income as fundraising slowed and the financial outlook became highly uncertain. From conversations with charity clients we were all too aware that the pandemic had brought an increased demand for their services even though many organisations were - [JH&P strengthens Edinburgh office with further hires](https://www.jameshambro.com/jhp-appoints-colin-orr/) - Wealth manager James Hambro & Partners (JH&P) has recruited experienced investment manager Colin Orr to further strengthen its rapidly growing Scottish office. Orr, a Chartered Fellow of the Chartered Institute for Securities and Investment, has nearly 30 years of industry experience advising and managing investments for private and institutional clients. Orr’s appointment reunites him with - [December investment update](https://www.jameshambro.com/december-investment-update/) - Markets were steady in November until a new coronavirus variant emerged, sending a shudder down the collective backbone of investors worldwide. Inflation may have been grabbing all the headlines, but it looks like the pandemic is once again vexing investors. The emergence of the Omicron variant at the end of November, which is potentially more - [February investment update](https://www.jameshambro.com/february-investment-update/) - Markets got off to a rocky start in 2022 as investors came to grips with the accelerating pace of tightening monetary policy, but it’s vital to take a considered view and see market corrections in context. It’s been a bumpy ride for markets so far this year, with stocks tumbling due to concerns about central - [Charity award win](https://www.jameshambro.com/charity-award-win/) - James Hambro & Partners has won the Charity Times Boutique Investment Manager of the Year Awards for the fourth time in six years. The award was made in a virtual event last night – the 21st year of the awards, which are widely respected by the charity sector as a guide of service excellence. 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JH&P reserves the right to seek remedy from any such person to the full extent of the law. - [Order Execution Policy](https://www.jameshambro.com/order-execution-policy/) - Order Execution Policy Overview When placing orders in the market for our clients JH&P’s objective is always to obtain the best possible result (obtain ‘best execution’) for our clients. There are many factors which can affect our ability to obtain this result and our approach to each of these factors is set out below.. Client - [Privacy Policy](https://www.jameshambro.com/privacy-policy-2/) - Privacy Policy James Hambro & Partners LLP (“JH&P”) and James Hambro & Company Limited (“JH&C”) (together ‘we’) are committed to protecting your privacy and ensuring you are fully aware of the information we may hold on you and how that information might be used in the course of providing services to you. This policy explains - [Complaints Procedure](https://www.jameshambro.com/complaints-procedure/) - Complaints Procedure James Hambro & Partners LLP Complaints Handling Procedure The Financial Conduct Authority has strict rules and guidance on how firms should handle, record and report all complaints from clients, their representatives or former clients about the service it has rendered. Complaints to James Hambro & Partners LLP or James Hambro & Company Ltd - [Capital at Risk Warning](https://www.jameshambro.com/capital-at-risk-warning/) - Capital at Risk Warning Important Information The value of an investment and the income from it can go down as well as up and investors may not get back the amount invested. This may be partly the result of exchange rate fluctuations in investments which have an exposure to foreign currencies. You should be aware - [Approved Broker List](https://www.jameshambro.com/approved-broker-list/) - Approved Broker List Equities Atlantic Equities Canaccord Genuity Cowen Instinet Europe Investec Virtu Financial Jefferies International Numis Securities Panmure Gordon (UK) Limited RBC Europe Winterfloods Securities Citigroup Fixed Income Canaccord Genuity Jefferies International RBC Europe Winterfloods Securities Citigroup - [James Hambro Harrier Cautious Fund – SFDR Article 8 Sustainability Disclosures](https://www.jameshambro.com/james-hambro-harrier-cautious-fund-sfdr-article-8-sustainability-disclosures/) - James Hambro Harrier Cautious Fund – SFDR Article 8 Sustainability Disclosures Summary The Sub-Fund does not have a sustainable investment objective. The Sub-Fund does promote environmental and social characteristics but will not make any sustainable investments. The Sub-Fund pursues investments which allow the financial product to promote the following environmental and/or social characteristics that draw - [James Hambro Harrier Balanced Fund – SFDR Article 8 Sustainability Disclosures](https://www.jameshambro.com/james-hambro-harrier-balanced-fund-sfdr-article-8-sustainability-disclosures/) - James Hambro Harrier Balanced Fund – SFDR Article 8 Sustainability Disclosures Summary The Sub-Fund does not have a sustainable investment objective. The Sub-Fund does promote environmental and social characteristics but will not make any sustainable investments. The Sub-Fund pursues investments which allow the financial product to promote the following environmental and/or social characteristics that draw - [James Hambro Harrier Capital Growth Fund – SFDR Article 8 Sustainability Disclosures](https://www.jameshambro.com/james-hambro-harrier-capital-growth-fund-sfdr-article-8-sustainability-disclosures/) - James Hambro Harrier Capital Growth Fund – SFDR Article 8 Sustainability Disclosures Summary The Sub-Fund does not have a sustainable investment objective. The Sub-Fund does promote environmental and social characteristics but will not make any sustainable investments. The Sub-Fund pursues investments which allow the financial product to promote the following environmental and/or social characteristics that - [James Hambro Harrier Adventurous Fund – SFDR Article 8 Sustainability Disclosures](https://www.jameshambro.com/ames-hambro-harrier-adventurous-fund-sfdr-article-8-sustainability-disclosures/) - James Hambro Harrier Adventurous Fund – SFDR Article 8 Sustainability Disclosures Summary The Sub-Fund does not have a sustainable investment objective. The Sub-Fund does promote environmental and social characteristics but will not make any sustainable investments. The Sub-Fund pursues investments which allow the financial product to promote the following environmental and/or social characteristics that draw - [International Clients (template)](https://www.jameshambro.com/investment-management/international-clients-template/) - [Glossary](https://www.jameshambro.com/glossary/) - [All pages](https://www.jameshambro.com/all-pages/) - [Cookie Policy](https://www.jameshambro.com/cookie-policy/) - Cookie POLICY James Hambro & Partners LLP (“JH&P”) and James Hambro & Company Limited (“JH&C”) (together ‘we’) are committed to protecting your privacy and ensuring you are fully aware of the information we may hold on you and how that information might be used in the course of providing services to you. This policy explains - [Terms of Use](https://www.jameshambro.com/terms-of-use/) - Terms of Use James Hambro & Partners LLP (“JH&P”) and James Hambro & Company Limited (“JH&C”) (together ‘we’) are committed to protecting your privacy and ensuring you are fully aware of the information we may hold on you and how that information might be used in the course of providing services to you. This policy - [Privacy Policy](https://www.jameshambro.com/privacy-policy/) - privacy policy James Hambro & Partners LLP (“JH&P”) and James Hambro & Company Limited (“JH&C”) (together ‘we’) are committed to protecting your privacy and ensuring you are fully aware of the information we may hold on you and how that information might be used in the course of providing services to you. This policy explains - [Document library](https://www.jameshambro.com/document-library/) - [Financial advisors](https://www.jameshambro.com/financial-advisors/) - [Content builder](https://www.jameshambro.com/content-builder/) ## Vacancies - [Client Services Executive](https://www.jameshambro.com/vacancies/client-services-executive-2/) - About James Hambro & Partners James Hambro & Partners is an independently owned wealth management group established in 2010 by Jamie Hambro and seasoned industry experts. The Hambro name has been closely associated with the investment world for more than 200 years. The founding of James Hambro & Partners (JH&P) in 2010 marked its return - [Client Services Executive](https://www.jameshambro.com/vacancies/client-services-executive/) - About James Hambro & Partners James Hambro & Partners is an independently owned wealth management group established in 2010 by Jamie Hambro and seasoned industry experts. The Hambro name has been closely associated with the investment world for more than 200 years. The founding of James Hambro & Partners (JH&P) in 2010 marked its return - [Receptionist](https://www.jameshambro.com/vacancies/receptionist/) - About James Hambro & Partners James Hambro & Partners is an independently owned wealth management group established in 2010 by Jamie Hambro and seasoned industry experts. The Hambro name has been closely associated with the investment world for more than 200 years. The founding of James Hambro & Partners (JH&P) in 2010 marked its return - [Assistant Financial Planner](https://www.jameshambro.com/vacancies/assistant-financial-planner-edinburgh/) - About James Hambro & Partners James Hambro & Partners is an independently owned wealth management group established in 2010 by Jamie Hambro and seasoned industry experts. The Hambro name has been closely associated with the investment world for more than 200 years. The founding of James Hambro & Partners (JH&P) in 2010 marked its return ## Documents - [Lorem ipsum dolor sit amet Document 4](https://www.jameshambro.com/?documents=lorem-ipsum-dolor-sit-amet-document-4) - [Lorem ipsum dolor sit amet Document 5](https://www.jameshambro.com/?documents=lorem-ipsum-dolor-sit-amet-document-5) - [Lorem ipsum dolor sit amet Document 6](https://www.jameshambro.com/?documents=lorem-ipsum-dolor-sit-amet-document-6) - [Document 7 Lorem ipsum](https://www.jameshambro.com/?documents=document-7-lorem-ipsum) - [Document 3 Lorem ipsum](https://www.jameshambro.com/?documents=document-3-lorem-ipsum) - [Document 2 Lorem ipsum](https://www.jameshambro.com/?documents=document-2-lorem-ipsum) - [Document 1 Lorem ipsum](https://www.jameshambro.com/?documents=document-1) ## Glossary - [Library of Congress](https://www.jameshambro.com/glossaries/library-of-congress/) - A classification system developed by the Library of Congress used to assign subject headings and a call number. This process often groups items about a similar topic together. This system is used by most academic libraries including Milner Library. - [Open Web](https://www.jameshambro.com/glossaries/open-web/) - The parts of the internet that is available for free and can be accessed by anyone. This also where anyone can publish on the web. Free web search engines (Google, Bing, Yahoo...) search only this portion of online items. - [Search](https://www.jameshambro.com/glossaries/search/) - In library research, using structured mechanisms such as a catalog, search engine, database, etc., either online or print-based, to find information relevant to a topic or project. - [Keyword Search](https://www.jameshambro.com/glossaries/keyword-search/) - A specific type of search method within a database, catalog, or search engine that uses minimal limits or parameters. The search term(s) (word or phrase) may be located anywhere in the record (title, abstract, full text, subject heading, etc.) - [MLA In-Text Citations](https://www.jameshambro.com/glossaries/mla-in-text-citations/) - An MLA citation uses the author's last name and page numbers. - [Title Search](https://www.jameshambro.com/glossaries/title-search/) - A search method that only searches the title field within a database, catalog, or search engine. - [Subject Heading](https://www.jameshambro.com/glossaries/subject-heading/) - A specific field within a database record that describes the content of the items such as a book or article. - [Source(s)](https://www.jameshambro.com/glossaries/sources/) - Any item used to glean or expand knowledge about a topic or discipline. During library research, these are used to support one's thesis statement or answer a research question. A specific item cited or listed in a bibliography of a paper, speech, presentation, project, etc. - [Secondary Source](https://www.jameshambro.com/glossaries/secondary-source/) - Items that interpret, critique, or analyze information, content, or findings of primary sources about a specific topic. - [Search Term](https://www.jameshambro.com/glossaries/search-term/) - A word or phrase typed into an online catalog, database, or search engine to retrieve relevant information. Learn more about picking search terms. - [Search Strategy](https://www.jameshambro.com/glossaries/search-strategy/) - A plan or set of steps for conducting a search. Learn more about the Search Process. Example: Selecting search terms that represent the main concepts of a research question or thesis statement. Select appropriate search engines or databases for the topic. Identify subject heading(s) from search results. - [Search Engine](https://www.jameshambro.com/glossaries/search-engine/) - Software and programming created to retrieve information from a database, computer, or the Internet. Examples: Google, Yahoo, Bing, Milner Catalog, Academic Search Premier. - [Library Research](https://www.jameshambro.com/glossaries/library-research/) - Using sources such as books and articles to collect information on a topic. This is different from primary research, which uses original experiments or tests. - [Information Fluency](https://www.jameshambro.com/glossaries/information-fluency/) - The ability to critically think while engaging with, creating, and utilizing information and technology regardless of format and platform. - [Information Literacy](https://www.jameshambro.com/glossaries/information-literacy/) - Involves finding sources, analyzing the material, evaluating the credibility of the sources, and using and citing sources ethically and legally. - [Abstract](https://www.jameshambro.com/glossaries/abstract/) - A short summary or overview explaining the general focus of a book, article, or other source. A time saving strategy is to read the abstract to check the source’s relevancy to your project. - [Accuracy](https://www.jameshambro.com/glossaries/accuracy/) - An evaluation criteria to determine the reliability, truthfulness and correctness of the content. - [Bibliography](https://www.jameshambro.com/glossaries/bibliography/) - A list of sources that stands alone or is found at the end of a paper, article, chapter, or book. It provides information about the sources so another person can find and use the source. In Chicago Style, the title used for the bibliography and a way to refer to the list of sources in - [Annotated Bibliography](https://www.jameshambro.com/glossaries/annotated-bibliography/) - A list of sources, formatted in a specific style that includes a description or evaluation for each item. - [Call Number](https://www.jameshambro.com/glossaries/call-number/) - A unique identifier (like a street address) given to library items so they can be easily found. Items about the same subject often have similar call numbers. Major call number systems include Dewey Decimal and Library of Congress. - [Catalog](https://www.jameshambro.com/glossaries/catalog/) - A type of database, searchable online, used by libraries that includes information about the items they own or subscribe to. Each item’s record in the catalog provides information like title, author, call number, and floor location. - [Current / Currency](https://www.jameshambro.com/glossaries/current-currency/) - A source that has been recently published, generally in the last 5 years. Different disciplines use various year ranges to determine what is current. An evaluation criteria used to determine if the date of publication of the information is suitable for your paper, speech, presentation, project, etc - [Database](https://www.jameshambro.com/glossaries/database/) - A searchable set of records. The set of records could be for articles, books, images, etc. Each record includes specific information about an item comprised of fields. - [Record](https://www.jameshambro.com/glossaries/record/) - Information about an item within a database comprised of fields. - [Field(s)](https://www.jameshambro.com/glossaries/fields/) - A specific component of a database record that includes unique information. In search engines, fields can be used to limit or focus a search. - [Peer-Review](https://www.jameshambro.com/glossaries/peer-review/) - A process established by researchers and scholars to review written works (e.g., articles, book chapters, books, etc.) of their peers prior to being approved for publication. The process is typically anonymous, meaning the reviewer does not know who author is and the author does not know who reviewed their work. This is often referred to - [Peer-Reviewed](https://www.jameshambro.com/glossaries/peer-reviewed/) - Has been approved by a panel of experts in the same field of study before it is accepted for publication. Also could be called a refereed or scholarly source. - [Plagiarism](https://www.jameshambro.com/glossaries/plagiarism/) - Using or closely imitating another person’s ideas, text, or work and presenting it as your own without proper acknowledgement of the original source. - [Popular Magazine](https://www.jameshambro.com/glossaries/popular-magazine/) - A publication containing articles on a variety of topics, written by various authors in a non-scholarly or general interest style. Most magazines are heavily illustrated, contain advertising, and are printed on glossy paper. The articles are usually short (less than five pages long), frequently unsigned, and tend not to include a bibliography or list of - [Primary Source](https://www.jameshambro.com/glossaries/primary-source/) - Items or original works that are a firsthand record of a topic, historical events, practices, conditions, or original research. They have not been filtered through interpretation or evaluation. - [Purpose](https://www.jameshambro.com/glossaries/purpose/) - An evaluation criteria used to determine the reason why the information exists. ## Team - [Harry Jugessur](https://www.jameshambro.com/team/harry-jugessur/) - [Nicola Day](https://www.jameshambro.com/team/nicola-day/) - [Matilda Dale](https://www.jameshambro.com/team/matilda-dale/) - [Emma Edens](https://www.jameshambro.com/team/emma-edens/) - [Ben Staniforth](https://www.jameshambro.com/team/ben-staniforth/) - [James Dowsett](https://www.jameshambro.com/team/james-dowsett/) - [Toby Collett](https://www.jameshambro.com/team/toby-collett/) - [Oliver Dunne](https://www.jameshambro.com/team/oliver-dunne/) - [Tom Dias](https://www.jameshambro.com/team/tom-dias/) - [Doug Wilson](https://www.jameshambro.com/team/doug-wilson/) - [Paddy Anson](https://www.jameshambro.com/team/paddy-anson/) - [Asher Ajayi](https://www.jameshambro.com/team/asher-ajayi/) - [Rosie Finnegan](https://www.jameshambro.com/team/rosie-finnegan/) - [Mark Richmond-Watson](https://www.jameshambro.com/team/mark-richmond-watson/) - [Rosie Bullard](https://www.jameshambro.com/team/rosemary-bullard/) - [Janine Piagesti](https://www.jameshambro.com/team/janine-piagesti/) - [Eva Robinson](https://www.jameshambro.com/team/eva-robinson/) - [Amelia Peck](https://www.jameshambro.com/team/amelia-peck/) - [Liora Hain](https://www.jameshambro.com/team/liora-hain/) - [Dino Luciano](https://www.jameshambro.com/team/dino-luciano/) - [James Horniman](https://www.jameshambro.com/team/james-horniman/) - [Eilidh Mitchell](https://www.jameshambro.com/team/eilidh-mitchell/) - [Ella Meredith](https://www.jameshambro.com/team/ella-meredith/) - [Mary Lunn](https://www.jameshambro.com/team/mary-lunn/) - [Ellen Alexander](https://www.jameshambro.com/team/ellen-alexander/) - [Kinvara Boorman](https://www.jameshambro.com/team/kinvara-boorman/) - [Isabella Cowell](https://www.jameshambro.com/team/isabella-cowell/) - [Diya Silas](https://www.jameshambro.com/team/diya-silas/) - 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[Olivia Hall](https://www.jameshambro.com/team/olivia-hall/) - [Colin Orr](https://www.jameshambro.com/team/colin-orr/) - [Sine Wickham](https://www.jameshambro.com/team/sine-wickham/) - [Sam Reynolds](https://www.jameshambro.com/team/sam-reynolds/) - [Suki Soomal](https://www.jameshambro.com/team/suki-soomal/) - [Emma Moffat](https://www.jameshambro.com/team/emma-moffat/) - [Lindsey Beal](https://www.jameshambro.com/team/lindsey-beal/) - [Amy Hayes](https://www.jameshambro.com/team/amy-hayes/) - [Elli Carr](https://www.jameshambro.com/team/elli-carr/) - [Lauren Medcraft](https://www.jameshambro.com/team/lauren-medcraft/) - [Henry Quill](https://www.jameshambro.com/team/henry-quill/) - [Chloe Saunders](https://www.jameshambro.com/team/chloe-saunders/) - [Oliver Say](https://www.jameshambro.com/team/oliver-say/) - [Zak Thompson](https://www.jameshambro.com/team/zak-thompson/) - [Emily Palmer](https://www.jameshambro.com/team/emily-palmer/) - [Sharon Marti](https://www.jameshambro.com/team/sharon-marti/) - 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[Penny Kunzig](https://www.jameshambro.com/team/penny-kunzig/) - [Jeremy Richardson](https://www.jameshambro.com/team/jeremy-richardson/) - [Thomas Allsup](https://www.jameshambro.com/team/thomas-allsup/) - [Billy Hughes](https://www.jameshambro.com/team/billy-hughes/) - [Sean Jones](https://www.jameshambro.com/team/sean-jones/) - [Dan Riddell](https://www.jameshambro.com/team/dan-riddell/) - [Luke Martin](https://www.jameshambro.com/team/luke-martin/) - [Lauren McCormack](https://www.jameshambro.com/team/lauren-mccormack/) - [Andrew Rice](https://www.jameshambro.com/team/andrew-rice/) - [Aidan Butler](https://www.jameshambro.com/team/aidan-butler/) - [Austin James](https://www.jameshambro.com/team/austin-james/) - [Lauren Wallace](https://www.jameshambro.com/team/lauren-wallace/) - [Ned Francis](https://www.jameshambro.com/team/edward-francis/) - [Robert Seifert](https://www.jameshambro.com/team/robert-seifert/) - [Robert Williams](https://www.jameshambro.com/team/robert-williams/) - 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