Your Argyle Financial Bulletin for December 2015

Dear Client,

Financial matters.

The recent acts of terrorism in Paris, a huge increase in emigration from the Middle East and the ever-rumbling difficulties faced by Greece and other Euro Zone countries (coupled with additional stuttering economies around the globe) have been just some of the issues which have made 2015 a particularly difficult year. 

Our daily lives now face increased levels of risk and volatility which, in turn, make investment planning a more hazardous business and the ongoing era of very low interest rates (preferred by leading nations as a prime way of countering a lack of economic growth) continues to translate into modest returns for savers. 

At Argyle, our objective has been to protect your capital as far as reasonably possible, whilst continuing to search for growth opportunities. We are pleased to have achieved a modest return in 2015, whilst minimising volatility and we will continue with this cautious approach in 2016… whilst still endeavouring to achieve overall positive returns. 

Past budgets have provided a general impression of how we as a nation are doing and of what might lie ahead. Modern politics seem to be more about trying to predict circumstances which might occur several years away and as such are of little help in the here and now. In our view, George Osborne's recent Autumn Statement was something of a masterpiece of smoke and mirrors... which took as much as it gave and will keep us all waiting for some years yet, in terms of judging its effectiveness. 

We do know there will be many changes to Pensions legislation in the Budget next April, but their exact nature is going to be a moveable feast as the Chancellor tries to balance his need to increase taxation, with the long term need of making more of us responsible for our own future.

Christmas matters

For a number of years we have been making a donation to charity rather than sending out Christmas cards and this year we are pleased to announce that our chosen charity is Riding for the Disabled. 

Each week Jean and many other volunteers give-up their time to help disabled youngsters enjoy horse riding at Gaddesden Place Riding for the Disabled, a local centre for this very worthwhile cause. 

The Centre is currently trying to fund a new pony and we have therefore been pleased to provide them with some financial assistance.

Finally, it only remains to say that we wish you and yours a very happy and a very peaceful Christmas holiday. Phil & Jean & Gwen