H Edition Issue 8 by H Fusion Media Group Limited

EDITION www.heditionmagazine.com

M A G A Z I N E

EXCLUSIVE INTERVIEW WITH

CHARLIE MAYHEW CEO and Co-founder of Tusk

FACTS ABOUT ENTREPRENEURS That may surprise you

EXPLORE THE MULSANNE SPEED The epitome of the powerful luxury for which Bentley stands

MICHAEL WIGNALL Recently given the accolade of ‘Best Michelin starred Chef you have never heard of’

Issue 8 UK £4.95 Europe €7.00 Switzerland CHF 7.50 USA $7.99 Canada $14.75 Singapore $10.00

Celebrating 25 years of

Tusk

B U S I N E S S | N E W S | C U LT U R E | L U X U R Y | L I F E S T Y L E

BOUTIQUES GENÈVE • PARIS • LONDON • BERLIN • NEW YORK BAL HARBOUR • BEVERLY HILLS • LAS VEGAS MOSCOW • DUBAI • TOKYO • HONG KONG • SINGAPORE SAINT-TROPEZ • CANNES • COURCHEVEL • GSTAAD

Welcome to EDITION ‘Tomorrow is the first blank page of a 365 page book. Write a good one.’

ow this year has flown by! If I was to describe the last 12 months it would as a joyous year of watching my beautiful son growing up, launching a new magazine (which, in itself, is like having a new born baby to tend to at all hours God sends), and embracing each new day with vigour.

January’s issue reaches across many diverse topics. Our regular contributors, Professor Carlo Pelanda and Dr Domenico Lombardi write for us on pages 9 and 10. Our luxury pages showcase Bentley – and the newly launched Mulsanne Speed – a definite one to read for those of you who love comfort and speed. This article is truly stunning. AV Jets also share a fabulous guide on buying a private jet. I am hoping to win the lottery and then you may see me flying by in my new Gulfstream 550 with a glass of champagne in hand. On a much more serious note, our cover story is dedicated to Tusk, one of my favourite charities. The team at Tusk work tirelessly protecting wildlife. As you can see from our front cover, HRH the Duke of Cambridge is a patron and is dedicated to this dynamic organisation which has 25 years of experience initiating and funding conservation, community development and environmental education programmes across Africa. 2015 is its Silver Anniversary year, a remarkable achievement and long may it continue. Since its formation in 1990, Tusk has raised over £25 ($40) million for a wide range of projects across the continent. The charity has earned a reputation for being financially efficient, with an average of 80% of the net funds raised reaching the field. I interview Charlie Mayhew on pages 24-25, what an inspirational man he is. If you would like to donate to Tusk please go to www.tusk.org New Years are always filled with resolutions and my key one for 2015 would be to expand H Edition to be the go to magazine for creative content, interesting and inspiring interviews and showcasing brands for all the right reasons. We are going from strength to strength and this year we will be partnering with some spectacular events across Europe: starting with the Top Marques Monaco in April; working with Elite London in May and with the Hublot Polo in Ascona in July. If you would like to advertise or contribute to any issues please do not hesitate to contact our friendly team. Until February Dina Aletra, Editor

LONDON • LUXEMBOURG • MIAMI • MONACO • NEW YORK• SWITZERLAND H Edition is published monthly and offers advertisers an exclusive audience of affluent readers. Whilst every attempt has been made to ensure that content in the magazine is accurate Hamble Group cannot accept and hereby disclaim any liability to loss or damage caused by errors resulting from negligence, accident or any other cause. All rights are reserved no duplication of this magazine can be used without prior permission from Hamble Group Ltd. All information is correct at time of press. Views expressed are not necessarily those of Hamble Group.

The Team Editor: Publishing Assistant: Design: Freelance writers:

Photography:

Dina Aletra dina.aletra@hamblemediacomms.com Rebecca Cowing becky.cowing@hamblemediacomms.com Typetechnique Philip Whiteley Fiona Maclean Joanna Walker Stephen Crockford

GET H EDITION ON YOUR TABLET Head over to our mini site where you can subscribe and download the H Edition App. You’ll never miss an issue again. www.heditionmagazine.com

Thanks also this month to: Hublot CH, Elite London, Prof. Carlo Pelanda, Etihad Airlines, London and Capital, Dr. Domenico Lombardi, Davide Cognolato, Tusk, Charlie Mayhew MBE, India Tourism, Papua New Guinea High Commission, Bentley Motors, Vertu, AV Jets, Alan Winchester, John Davies, The Rocksure Group, Frame PR, Michael Wignall, Top Marques Monaco, Audi CH, Patek Philippe, Watches of Switzerland. Front cover credits: HRH The Duke Of Cambridge, ITV “Prince William’s Passion: New Father, New Hope.” Facebook The Hamble Group

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CONTENTS ISSUE 8

REGULARS

9 11

THE MARKET MOMENT by Professor Carlo Pelanda

G20 SUMMIT: THIS TIME IT’S dIffERENT By Dr Domenico Lombardi

NEW OR PRE-OWNEd?

GRANdMASTER CHIME

THE MASTER dISTILLER’S STORY

BUSINESS

6 14 18

dOES YOUR WEALTH MANAGER MEASURE UP?

CHENNAI

By Iain Tait Head of the Private Investment Office at London and Capital

PAPUA NEW GUINEA

RESTRUCTURING YOUR BUSINESS IN TIMES Of CRISIS

ENTREPRENEURS

By Davide Cognolato Head of Restructuring Anchorage Group CH

PHUNdEE.COM

fACTS ABOUT ENTREPRENEURS THAT MAY SURPRISE YOU

BEING SAfE IN THE CLOUd By John Davis, Managing Director BCSG

CELEBRATING 25 YEARS Of TUSK A dynamic and pioneering organisation dedicated to conservation and wildlife

EXCLUSIVE INTERVIEW WITH CHARLIE MAYHEW Editors choice

LUXURY

Featuring Alan Winchester, the ultimate custodian of The Glenlivet brand

TRAVEL

COVER STORY

The most complicated wrist watch in Patek Philippe’s history

GLOBAL REVIEW

DIGITAL

An insiders guide to buying a private jet

EXPLORE THE MULSANNE SPEEd

VERTU LAUNCHES ASTER

The car that defines Bentley

The new, quintessentially English smart phone

A melting pot of tradition and technology

An undiscovered paradise

A crowdfunding social networking that is dedicated to entertainment and arts projects

Be inspired

H EDITION LONDON

LONdON LIVING

STRESSEd IN THE CITY

INTERVIEW WITH TWO MICHELIN STAR CHEf MICHAEL WIGNALL

The places to see and be seen in and around London

The Priory Group launches its first Wellbeing Centre in the City of London

Given the accolade of ‘Best Chef you have never heard of’ his passion for food has led to Michael Wignall at The Latymer fast becoming one of the best restaurants in the Surrey area

GLOBAL

REVIEW

Brazil

Much world attention is focused on South America’s largest economy which hosted the FIFA World Cup this year. The incumbent President Dilma Rousseff of the Workers’ Party faced a strong challenge from the centre-right challenger Aécio Neves of the Brazilian Social Democracy Party in October’s general election and won by a narrow margin of victory – 52% to 48%. Economic growth have continued, with the country being the ‘B’ in the famous ‘BRICS’ acronym. But concerns over economic inequality have been prominent in recent months, and this year featured popular protests preceding the World Cup. According to the World Bank, Brazil cut absolute poverty by 75% between 2004 and 2012, to just 1.6% of the population. Many of the problems that the country faces are now those of a developed nation, with much concern over health care and bureaucracy. In the most recent Competitiveness Index, published September 2014, Brazil retained a mid-ranking position of 57 out of 144. Tax regulations are particularly onerous, topping the list of concerns in the Index, which is compiled by the World Economic Forum. Corruption is still significant, although there have been high-profile convictions for corrupt officials under the Rousseff Presidency. The country is ranked only 72nd out of 177 on the most recent Transparency International Perceptions Index (October 2013), well behind Uruguay (19th) and Chile (22nd).

India

Another BRICS country to have held a general election in 2014 is India. Narendra Modi of the Bharatiya Janata Party replaced Manmohan Singh as Prime Minister in May. Economic growth has disappointed in India in recent years, with failures to modernize the nation’s infrastructure, and considerable institutional bureaucracy, held as significant factors. The incoming Prime Minister has sought to reduce red tape, for example switching company registrations to a self-entry online system. He is also making it easier for citizens to open a bank account. One of the public sector innovations is a national digital biometric system, the ‘Aadhaar’, overseen by the Unique Identification Authority of India. It sounds ‘Big Brother’ but is being used, among other applications, to clamp down on high levels of absenteeism in civil servants – a cause of resentment among taxpayers. The country’s systems of subsidies for fuel and food have long been associated with corruption, on a scale described as ‘rampant’ by a report in The Economist in October. On the Transparency Index, India ranks 94th out of 177, a very lowly position for a large and ambitious economy with a high level of education and technological capability. India’s Competitiveness Index is also poor, at 71st out of 144, down from 56th in 2011. No single issue dominates: businesses cite a list of problems including with access to finance, corruption and infrastructure as well as corruption.

Spain

Spain is one of the few Eurozone members to have experienced a return to economic growth since the single currency hit crisis in 2010, and has registered some improvements in trading performance, but is encountering uncertainty over a constitutional dilemma. Separatists from Catalonia, capital Barcelona, want a referendum on secession, similar to that held by Scotland in the UK in September, but the Madrid government and courts have ruled this unconstitutional. The country reported exports in June of €20.6 billion, compared with €15.6 billion in 2008, when the financial crisis broke. Economic growth was 0.6% for the second quarter. Spain’s latest Global Competitiveness Index is 35th out of 144, and it scores particularly well on infrastructure, health and education. Access to finance, labour regulations and bureaucracy are cited as the three main barriers to ease of doing business. The Catalan separatists’ push for independence could take Spain’s constitution into uncharted waters, putting economic recovery at risk, especially as Catalonia is one of the richest parts of the country. Spain has had problems with corruption, but the media are becoming bolder at publicizing cases, and there have been high-profile prosecutions; even a case against a member of the royal family. It ranks 40th in the Transparency Index, up from 65th just two years ago.

Ghana

Although Ghana has made progress in development, it lags at 111th place on Global Competitiveness Index. It scores moderately well on labor market efficiency, goods market efficiency and financial market development, but is held back by poor infrastructure and a fairly low score on higher education. Much of the country’s population works in the informal economy, and environmental degradation is significant, with lost forest cover owing to logging and agricultural development. There is much room for improvement in resources management, according to the 2014 Global Competitiveness report. From the point of view of business, access to finance, foreign currency regulations and tax rates emerge as the top three problems. President Mahama gave a positive assessment of economic prospects during a visit to the UK in October 2014, reporting increased exports of finished goods in addition to raw materials. He has faced criticism, however, for slow fiscal reforms and high deficits. Bond yields and inflation have risen. At the point of writing, Ghana has not had a case of Ebola, but restrictions on flights are having a negative impact on the regional economy. Ghana’s economic development and peaceful, democratic transfers of power over the past few years has attracted praise, however. It terms of combating corruption, it comes a respectable 63rd out of 177 nations on the Transparency Index.

www.hamblegroup.com

5 2 7 4

United Arab Emirates

The United Arab Emirates receives praise from the World Economic Forum in its latest Global Competitiveness Report for using oil wealth to invest in reforms that help development and competitiveness. Its ranking rose to an impressive 12th in the global list this year. The infrastructure ranks third in the world, and respect for politicians and efficiency of the public sector are also strengths. Its main strengths in addition to infrastructure include macro-economic conditions, health, education and technological readiness. It has lower scores on innovation and labor market efficiency. Restrictive labor regulations and inflation were the top two factors cited as problems for doing business in the country. It is less dependent on oil revenues than some other states in the region, with established industries in financial services, retail and tourism. The country is relatively liberal and stable. It has so far avoided the revolutions and civil wars affecting some other countries in the Middle East. The authorities imprisoned 68 Islamists in 2013 for attempting to seize power. On anti-corruption, the United Arab Emirates registers an impressive 26th place out of 177 nations on the Corruption Perceptions Index published in 2013 by Transparency International. It is the highest placing for a Middle East country. The relative integrity of political leaders has given the country an enviable degree of stability compared with many others in the region.

www.hamblegroup.com

Canada

The shooting dead of a soldier at Ottawa’s national War Memorial on 22 October was a rare case of political violence in this stable country. Reservist Nathan Cirillo was shot by lone terrorist Michael Zehaf-Bibeau, who himself was shot and killed following an exchange of fire that took place subsequently inside the Parliament building. On nearly all measures, Canada remains a stable democracy, with low corruption, and is widely perceived as a good place for doing business. It has considerable mineral wealth, but also a diversified and mature economy. It is placed 15th on the Global Competitiveness Index, scoring particularly well on education and infrastructure. Some issues are cited as being problems for business, namely access to finance and tax levels. It weathered the crisis of 2008-09 better than many Western countries, and is ranked first in the world for the soundness of its banking system, although Moody’s registered a slight downgrade in July, in response to the federal government opting for a ‘bail-in’ regime for important banks. In terms of anti-corruption, it is ninth on the most recent global ranking, prepared by Transparency International. There is an anti-corruption checklist, launched in 2011 and available online. The watchdog also welcomed improvements to the federal government’s anti-corruption legislation in 2013. The change strengthened powers to prosecute Canadian nationals or companies for corruption in other countries.

Vietnam

Vietnam has attracted inward investment in recent years and is seen as a success story of development, from a low starting base of civil war and extreme poverty in the mid-late 20th Century. It has an improved Global Competitiveness ranking at 68th, up two places from 2013. It scores well on health and education. Access to finance and corruption are cited as the two top problems for doing business in the country. There is improved perception of public institutions, and better protection of property rights. Technological readiness needs to improve. Macro-economic conditions have improved, after inflation subsided following a peak of 11% in 2011. External accounts have improved, and real GDP was projected to reach 5.4% for the whole of 2014, the World Bank reported in July 2014, though it judged this to be below the nation’s potential. The World Bank report, while confirming an improvement in macro-economic conditions, urged faster banking reform. It also reported high levels of inequality. It urged reform of state-owned enterprises and of the banking sector, and the removal of barriers to domestic private investment. It is low on the Transparency Index, at 116th place globally. Payment of small bribes of officials is common throughout the economy, exacerbated by low wages. The organization Towards Transparency, working with the Asia-Pacific Economic Cooperation, has begun anti-corruption initiatives in the country.

Turkey

Political crises just over the border in Syria and the parts of Iraq controlled by the extremist Islamic State movement have caused regional instability and an influx of refugees to Turkey. Despite this, the country has continued its modernization and economic development. It is ranked 45th in the Global Competitiveness table, up from 59th three years earlier, scoring well on health and education. It scores well on market size, and is now the 18th largest economy in the world. A report by the World Bank in May 2014 recorded that the country had increased the number of countries to which it exported to 137, up from 90 in 2000. It noted that the country aims to be one of the top ten economies by size by 2023, but stated that further supply side reforms were needed, and that the low level of foreign direct investment in manufacturing continued to be a constraint on growth. The country needed to improve innovation, research & development investment, and education and skills, as well as inward investment. It scores reasonably well on counter-corruption efforts, coming 53rd on the Transparency International rankings, ahead of neighbouring Greece (80th), which is a European Union member. The question of whether the country joins the EU – it first applied back in 1987 – continues unresolved, though talks restarted in November 2013. Some EU countries have been concerned about immigration from Turkey, while others take issue with the human rights record.

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2014 and beyond: A Global Economic Update I

n 2014 the American economy showed solid growth which, though its recovery from the 2008 crisis has not been fully accomplished, enables us to forecast a continuity of this expansion in 2015. By contrast, the Eurozone still looks trapped in a deflationary trend which may cause economic stagnation in 2015. China is showing problems of overcapacity, instability of its financial system and less than expected exports that will limit its 2015 increase of the GDP to around 6% – much less than in the past. In summary – among the three major potential locomotives of global demand only America will be a strong driving force. This seems to confirm the “slow recovery” scenario projected by the IMF in October 2012 which says that 2018 will provide the first window of opportunity for a full and diffused global recovery after the shock of 2008. Is this good or bad news? It’s half and half. The good news is that the global economy is moving up, though very slowly, rather than stagnating. The bad news is that the very slow pace of growth will increase the vulnerability of the overall system.

The problem is as follows: this recovery has been driven by a huge amount of liquidity injected into the market by the Central Banks since 2009, with this peaking in 2013 and 2014. Unfortunately, this flood of liquidity found, and is still finding, too many barriers to a full transmission of the monetary stimuli to the “real economy.” This means that there is a gap between the financially driven recovery and real economic growth. This gap might affect the stock market in 2015 making it too volatile.

A further problem will be created by the Federal Reserve’s need to reduce its balance sheet – to shrink the overall amount of monetary mass in order to keep the inflationary trends that are likely to occur in the American economy, if it continues to grow at its current rate, at bay. The European Central Bank (ECB) and the Bank of Japan (BoJ) have tried to compensate for this by expanding their own balance sheets. The BoJ has already made hyper-expansive manoeuvers and the ECB has announced a reflationary measure of around 1 trillion euro. However, the disinflationary obsession of Germany might reduce the ECB contribution to the global “pump of capital” and the Japanese approach seems to be increasing financial instability whilst expanding the global amount of circulating capital.

These uncertainties could lead to a devaluation war among currencies. But the most dangerous factor is that a strong dollar might make it more difficult for emerging economies to sustain their debt in dollars, thereby risking opening a season of devastating defaults. The Federal Reserve will try not to generate shocks for this reason, but the Eurozone and China might suffer more as a result in which case the dollar will remain weak.

Professor Carlo Pelanda is Director of the Ph.D Programme in Geopolitical Economy, Marconi University, Rome, and Member of the Academic and Policy Board of the Oxford Institute for Economic Policy (OXONIA), Oxford. www.carlopelanda.com

Can we find and, as market actors, advocate an idea of how to avoid global destabilization? Perhaps a monetary agreement among the G7 (plus China) might help in providing global markets with both the right amount of liquidity and the confidence boosting guarantee of stability based on cooperation. Confidence will be the key factor in 2015, and beyond.

By Professor Carlo Pelanda www.hamblegroup.com

Picture: courtesy of G20 Flickr/Christine Lagarde

www.hamblegroup.com

G20 SUMMIT: This time it’s different By Dr Domenico Lombardi

ear after year we seem to be repeating the same story: the recovery is underway, but it’s sluggish, uneven and uncertain. It is for this reason that in October the International Monetary Fund (IMF) reiterated that the top priority should be raising world growth by addressing stagnation and low potential growth in both advanced and emerging market economies. As Christine Lagarde put it, ‘the global economy is at an inflection point’, arguing that we can either remain complacent about our current recovery prospect, which implies a lower growth path, or we can actively implement policies that push us beyond our current plateau. This time, the G20 might have actually been effective in drawing the leaders’ attention towards the top priority for the global economy, reflecting Australia’s focused presidency and the leaders’ recognition of the importance of infrastructure investment and demand management policies. Resulting from the Brisbane G20 summit in November were two key deliverables targeting the persistent weakness in global growth. The first is an agreement on several measures to boost infrastructure investment through the Global Infrastructure Initiative – a multi-year project meant to facilitate higher quality public and private infrastructure investment – and its complementary Global Infrastructure Hub. Public infrastructure investment was one of the IMF’s key recommendations for facilitating short-term demand management in countries where slack remains, and for boosting potential output across the map, including in economies operating at full capacity, such as Germany. Moreover, stronger infrastructure investment is imperative for sustaining high levels of growth in emerging market economies, as it facilitates the growth and development of a stable private sector. The second key deliverable is the commitment to an ambitious action plan, validated by the IMF and OECD, pledging to increase global growth by 2.1% over the next

four years. Again, these policy commitments are meant to address shorter-term stagnation in advanced economies as well as raise potential growth in both advanced and emerging market economies over the medium to long term. The latter is not exactly novel, however, as previous summits have also established ambitious, countrytailored action plans looking to enhance growth. Action plans of which have been unsuccessful in improving macroeconomic coordination. That said, there are reasons to be slightly more optimistic that the Brisbane Action Plan may deliver some results. First, the Australian presidency was ambitious, and intended to direct discussion towards pragmatic policy solutions. Australian leaders consistently emphasized the importance of building relationships and trust among G20 members, which they saw as a necessary precursor for successful, cooperative, growth-friendly policies. The second reason is that some, albeit not all, G20 members now appear to recognize that a certain degree of flexibility on fiscal policy is needed to stimulate demand in the short term. At a minimum, the fiscal stance cannot antagonize accommodative monetary policy, as the prevailing consensus now reached within the G20 under the Australian chair makes now clear. Even though, in an attempt to counteract it, German Chancellor Angela Merkel unveiled a balanced budget the day before the leaders’ summit. Looking forward, the extent to which the Brisbane commitments will be implemented will inevitably reflect the pressure exerted by the future chairs of the G20, starting with Turkey. As it overtakes the presidency in December, efforts by Turkish leaders will be necessary to ensure that G20 members remain on schedule in delivering on the Brisbane Action Plan. This sustained effort will, in turn, be key to improve the G20’s ability to achieve its goal of strong, sustainable and balanced global growth.

www.domenicolombardi.org

www.hamblegroup.com

| DIGITAL

BEING SAFE IN

THE CLOUD S

o 2015 is about to arrive and I am, like many others, filled with enthusiasm and new hope about what this year may bring. 2014 was a year synonymous with a number of high-profile security leaks, ranging from The White House, to companies such as eBay, to celebrities including Jennifer Lawrence. It certainly seems that hackers and the people looking to expose such sensitive information have stepped up their game. Gaining access to you and your company’s detail is now just as common a crime as somebody stealing your bag on the street. Can 2015 see a change in attitude and priority towards these unfortunately common breaches? It is regrettably the case in many aspects of life that the cheats are one step ahead of the preventers; however, apps and programs can be used to significantly reduce the threat of cyber-attacks. Given almost every company has a computer in their business, the risk they face and the potential cost of a breach is catastrophic; it is therefore surprising to learn that huge numbers have no plan or solution in place for if such an event does occur. While large companies are susceptible to such leaks, it is their small business customers who are most affected. When I hear business owners say they can’t afford the costs of implementing a solution; the question I ask is can they afford not to? The Telegraph, back in August last year, reported that cyber-attacks cost the global economy over £238 billion a year. Improvements in technology are giving business owners plenty to think about in terms of driving their companies forward. The cloud in particular is a rapidly developing area changing the way we work. Cloud computing allows anyone to 12

access their files or data whenever they choose; whether it’s on a smartphone, tablet or computer. It allows us to interact with and manage our applications and files regardless of location or access to our desktop. All that is needed is an internet connection. The cloud ultimately allows businesses to grow without the heavy investment in software they faced prior to cloud technology. It can also provide business owners with smart, sophisticated solutions which can dramatically reduce their chances of an online security breach. There are a lot of controls available and as long as risk management is considered there is no reason why security should be considered a legitimate hindrance. There are a number of factors to consider to ensure that you are providing the best protection for your business. Firstly, the sensitivity level of your data; knowing the nature of your data ensures you choose the correct level of security. You also need to know your options; once you have assessed the nature of your data you can decide if you want to use the private, public or hybrid cloud. The private cloud provides higher levels of security and is therefore favoured by financial institutions and government, due to the dedicated infrastructure and a higher degree of control. The public cloud on the other hand offers fewer security options but greater flexibility, making it, in most cases more suitable for small companies with less sensitive information. Choosing the right provider for your company is vital. Each provider will offer different services with varying levels of dedicated network perimeter measures such as hardware firewalls and intrusion detection systems (IDS). Along with

looking at what the provider has to offer it is important to remember that data faces different laws depending on the location in which it is held; documents like the Safe Harbor agreement help you to be fully aware of the risks. Furthermore, you may be locked into a long-term contract and so it is worth taking the time to research a provider that caters to your business needs and can provide support for growth. There are elements that you can personally control; simple things like protecting your passwords by making sure they are strong (combination of upper and lower-case letters, numbers and symbols), that any reminders are turned off and that one way encryption is in place. Additionally, giving the minimum number of people administrative privileges will increase your company’s level of security. Alongside this, educating the company through an ongoing communication strategy about security and safety issues will ensure everyone is aware of, and understands, best practice. Finally, it is important to find a provider that will commit to penetration testing. Penetration testing involves exposing the system to “ethical hacking” techniques that help identify vulnerabilities in the system before it is released to the public. Overall, if you do your research, fully understand your options and find a provider that caters to your needs, you should be able to achieve the levels of security that you require, ensuring your company isn’t left open to security breaches. Words by John Davis, Managing Director of BCSG. For further details on cloud solutions, please visit www.bcsg.com www.hamblegroup.com

www.hamblegroup.com

| BUSINESS

Does your Wealth Manager

MEASURE UP?

Even clients with several million to invest can find themselves with off-the-shelf investment solutions, rather than made-to-measure advice. Below we look at how to ensure you get a wealth management service that’s the perfect fit.

or many the term ‘wealth management’ is synonymous with a bespoke service of tailor-made investment plans and guidance from a trusted adviser, who takes a personal interest in your family’s assets that are invested. But the reality can be somewhat different. The wealth management sector is in a state of flux, with consolidation in the industry at record levels. This has, in part, been driven by regulatory changes and the increased cost of compliance. But this M&A activity has meant that not all wealth managers now offer the same service to all their clients. In recent years the sector has polarised, with some wealth managers focusing on the high margin ‘ultra high-net-worths’ – with assets of £20m-plus – while others try to achieve the economies of scale by targeting a more mass-affluent client base. Such firms typically provide off-the-shelf investment products or pooled investment structures where possible for this group – those with assets of less than £2m. The consequence of this is that those whose assets fall between these two poles can find that they are not getting the bespoke service they came to expect from their wealth management company. For those reviewing their current arrangements – or seeking more appropriate investment advice – there are a number of issues I would suggest you consider. At the heart of the matter is whether you believe that the products and services 14

offered have been designed to truly suit your individual needs – or whether they have been designed to suit your wealth manager.

The Investment Process This is the cornerstone of any wealth management service, and potential customers need to ask a number of questions about how their money is managed. In recent years there has been an increased use of ready-made investment portfolios, designed to suit different risk profiles. At its most basic, these are modelled for a cautious, balanced, adventurous or income-seeking remit – with customers having their assets invested in the portfolio that most closely matches their needs. Of course, many wealth management firms offer a more extensive range of portfolios. But investors should consider how much individual attention they will get if the manager is running an excessive number of client portfolios. But regardless of whether a wealth manager is offering five or fifteen ready-made investment portfolios, perhaps the first question is more fundamental. Do you want to be invested in a portfolio that ‘closely-matches’ your risk profile? Or would you rather have investment advice specifically designed around your own circumstances and exact needs? For many, the crux of a wealth management service is getting this tailormade investment advice.

Customers should also ask whether their wealth manager offers access to the widest range of asset classes. Initially, some investors may be happy to invest in a diverse spread of equities and bonds. But as your portfolio grows many investors will benefit from a broader choice of assets. In fact wealthier clients – particularly those with an entrepreneurial or investment backgrounds – should have access to this full range of assets from day one. This includes private equity, hedge funds, global currencies, property and derivatives as well as a geographical spread of shares, funds, bonds and other fixed-interest investments. This can have a bearing on the wealth manager chosen, as not all offer access to such assets. There are other ways to maximise this diversification. Some wealth managers only offer their own investment funds or, conversely, only offer access to externally managed investments. But it can sometimes work better if the wealth manager offers a combination of both, giving customers access to in-house funds which are actively managed by the house recommended them while retaining the flexibility to select external investments when appropriate.

Service Standards The investment process is the engine that drives the wealth management business. But we would argue that this can only function efficiently with attention to service standards. www.hamblegroup.com

Investing is about understanding people’s individual fears, motivation and expectations. This can only be done by listening to customers carefully, knowing what their financial priorities are, and knowing them as individuals – not as part of a pre-defined group. It’s important for individuals to find a wealth manager that has a global reach and can take a holistic approach. Wealthier families invariably have more complex financial affairs with assets located across the globe. What they need from a wealth manager is a conductor, someone who can visualise and communicate an overall plan, while co-ordinating the work of lawyers, accountants and private bankers in different jurisdictions. Some wealth managers are just one cog in a complex machine, leaving investors with no overall guidance on the best way to direct their finances. For many customers it’s important that their wealth manager is pro-active, getting in touch with them about investment ideas, or suggestions as to how economic changes may affect their portfolio. While there has been a lot of emphasis in recent years on digital innovations that can allow customers to trade, bank and get up-to-date financial information on the move, this hasn’t superseded the need for face-to-face interaction with a trusted and approachable point of contact. A decent wealth management service should be able to offer both. www.hamblegroup.com

Cost & Transparency

Independence

In today’s world cost and margins will always be important. But it’s important not to confuse price with value. A wealth manager should be able to clearly explain what they charge, and - just as importantly – demonstrate what you get for this.

According to a recent report in the Financial Times, the pace of consolidation in the wealth management sector increased last year, with merger and acquisition activity most prevalent in the UK market.

At the root of this issue is transparency. There have been moves in recent years to make pricing more transparent in the investment world. While this has greatly improved, there is still a deal of complexity, which can make it hard for investors to compare the overall costs of the different services offered by various wealth management firms. Customer should ensure that they look at more than just headline rates. Some firms will advertise a low upfront fee as a percentage of the assets under management and then subsequently charge excessive fund management, trading and reporting fees. When comparing charges clients should focus on the total expense ratio of the wealth management service. A prudent route could be to select someone that charges solely a percentage charge (of the overall assets being invested) but doesn’t add any fund costs. This way investors know, from the outset, the exact cost of this service

This activity has been driven by regulatory changes and the rising cost of compliance. Clearly by merging with other companies in the sector, or buying smaller providers, some firms hope to manage these higher costs by delivering economies of scale. While this strategy may suit the wealth management company it does not always suit their clients. Mergers and takeovers can lead to change in strategic direction while ‘economies of scale’ can mean, in practical terms, fewer resources are applied to individual investors. In some cases investors are being asked to leave a wealth manager because they no longer fit with the parent company’s ‘template’ of what constitutes a ‘profitable client’. This worrying trend has gone some way to erode the bond between client and wealth manager. In our view, independentlyowned wealth managers who don’t have the distraction of a parent group are better positioned to take a long-term view of what the client needs.

Words by Iain Tait, Partner, Head of the Private Investment Office at London and Capital iain.tait@londonandcapital.com www.londonandcapital.com

| ENTREPRENEURS

The world’s firsT arTs and enTerTainmenT crowdfunding plaTform

aunching a start-up in London is hard. Finance, recruitment, drive – these all have to come together to create a success. At the very heart of all these factors is having a good idea that fills a gap in the market.

The idea for phundee.com was inspired by my university experience. I chose to take a BA in Film, an industry I was very passionate about. On my first day of class, I was told by my university lecturer that 99.9% of students in my year would not make their first film. His reasoning was that the industry was too fickle, very limited and, unless you had the right connections or were extremely lucky, the chances of succeeding were slim. Although I took this statement lightly, the more I researched and tried to navigate the film industry, the more I realised how inaccessible it was. My attention very quickly turned to how I could make the process of seeking funds for making short films accessible. At the time, Myspace and Facebook were becoming commercial social networking platforms, powerful tools for everyday communication and general entertainment. So, I talked to a friend about creating a platform which enabled filmmakers to source funds to pay production costs for their short films. We both agreed that it would be a great idea but laughed it off. In 2008 whilst skipping through news channels something caught my attention, Barack Obama had been running for president of the United States and had managed to raise upwards of $500 million, in what the news anchor reported had in large come from ‘crowdfunding’ – small donors from all across the country, pledging $50 to $100 each. This was my “penny drop” moment. I would run my company – which would help fund independent arts and empower entertainment – based upon this idea. A year after leaving university, I went about trying to make the idea a reality. At the time, I hadn’t much experience of running a tech start up, so I recruited an individual who was a technical whizz. Unfortunately, as often happens, we had differences of opinion on how to turn it into a success. A few years later, I put the idea into motion again, with my now co-founder Colin Mcgregor. We met whilst performing for Disney – Colin was part of the Disney cast performing in theatrical stage shows, and I was inspired by his work ethic and performance capabilities. Over lunch one day, however, I discovered something more: not only did we share the same passion and love for the arts but we had a common vision 16

for making the industry more accessible. I pitched him the idea for Phundee – he loved it and immediately bought into its vision and mission. What impressed me most, was that Colin understood the need for this type of platform in relation to not only theatre but across the entire arts sector. He agreed to join me and committed to bringing this idea to fruition. We designed the website, recruited a technical team, developed a business plan, and approached investors. £150,000 later and Phundee.com has finally launched its BETA site with active campaigns. There have been some extremely exciting projects so far. After I Saw You a film by Yolanda Barker is a beautiful animation piece which explores the idea of love, not only what it’s like to be in love, but also what it’s like to lose it. Geeta Raj, will soon launch her campaign, The Global Sleepover, an online book for deaf children – stories told in the form of interactive cartoons which are touch sensitive and can be read on an iPad. Geeta has already got backing from some well known charities that love the cause she champions. We’re also extremely excited about Julian Hanford’s project, Fall, an art installation to commemorate the six-million Jews executed in the Holocaust. Uniquely, Julian and his design team are creating six-million dominos that are shaped like coffins. The dominos will stand in a stadium for five days and will be knocked over on the sixth. As a crowdfunding site that supports nine categories of arts (film, music, fashion. theatre, art, gaming, photography, dance and literature), with our big differentiator being our Ambassador Programme, aimed at connecting crowdfunders with influential people within the industry (for example, Jimmy Akingbola, founder www.hamblegroup.com

e e d n u Ph

of Triforce) we’re primed to start the new year looking at how we can maximise what we offer.

The crowdfunding industry is currently worth $6 billion and is projected to be worth $360 billion in the next ten years – with entertainment and arts making up a fifth of the overall market at $70 billion. In the next ten years Phundee has set its ambitions high and aspires to become one of the market leaders with one singular mission – to democratise funding for the arts whilst making the process accessible, transparent and Phun! This coming year, Phundee aims to generate at least 54 projects that are successfully funded every month through the site. The entertainment and arts scene in the UK is thriving and, being a London based company, we’re at the epicentre of this culture.

Friends of Phundee We will launch our Friends of Phundee programme early next year, this will enable established businesses to use our platform to crowdfund for their own projects whilst allowing them to provide partnership services with individual crowdfunders.

Test Marketing We intend to allow for much more social networking within the platform, enabling those who want to crowdfund to sound out the market before launching their campaigns. This will allow crowdfunders to have a realistic expectation of who will initially fund their projects and of the amount which an individual would fund. This will enable crowdfunders to have a kick-off amount in the bank by the time they launch. We hope this will ensure a higher degree of success than the average 30/40% which most commercial platforms experience. www.hamblegroup.com

Ambassadors

Ambassadors are influential figures within the entertainment and arts industry who help connect successful crowdfunders with those within the industry who are willing to help bring their project to market. At Phundee we’re all about helping crowdfunders raise money, but also supporting their ongoing career path after they have raised money successfully. We have attracted some really influential people within the UK: Jimmy Akingbola (actor) and Ged Rumack (President of the UA) to name just two, who – at the click of a button – provide mentorship and guidance. However, we have started to receive attention from potential Ambassadors in the US, therefore it seems only logical to expand internationally. Ambassadors at Phundee are valued and therefore paid a commission for their role. We monitor and validate Ambassadors who we feel add value to the crowdfunding experience.

Equity Site We plan to open our Equity Site in late 2015, allowing those with entertainment and arts businesses to crowdfund for much larger sums of money. When investors fund projects they become shareholders, owning a small portion of the company. Equity crowdfunding is one of the fastest growing sectors in the crowdfunding industry. Artists will find this relevant, as the average investment into a company is in the region of £2,000, as opposed to £50, when using our Reward Platform. Words by Ashon Spooner, Founder of Phundee www.phundee.com

| BUSINESS

www.hamblegroup.com

Taking the bite out of a workplace crisis The word crisis comes from The Greek word meaninG choice or decision

any companies these days have to deal with the harsh and painful reality of their business facing a crisis. Almost daily, companies that until recently have been doing well have found themselves in difficulties linked to a downturn in their business volumes, this may be due to a chronic cash flow problem or a drop in their share values that happens so suddenly that it leaves no space for philosophical reasoning, but calls for rapid and decisive action in order to be confronted effectively. Dictionaries define crisis as being ‘a time of intense difficulty or danger’ Whilst there are opportunities that emerge from a period of crisis there should also be plenty of scope for reaping the benefits by using a specialist team experienced in dealing with crisis management. Just as entrepreneurial successes are linked to key elements such as an idea, a product and communication, it is also down to a strong focused team to contribute in bringing all of the above factors together. It is a disturbing fact that, in the Veneto Region (at the centre of the Italian economy and composed of many small entrepreneurial companies) that in the last 18 months that some 1,200 entrepreneurs have turned to a special psychological help service called “anti-suicidio” or “anti-suicide”. This fact alone should be enough to emphasise the importance of having a crisis team in place to deal with problems that may arise. Throughout 2013/14 over 916,000 jobs have been lost and the gap between new companies starting and those that have ceased trading is a negative one to the tune of 22,000. These facts alone show that it is essential to pay particular attention in making adequate preparation when dealing with a company in this position. Personally I have worked in assisting many companies in resetting and restructuring key elements enabling them to resolve matters in a swift manner and thus allowing a company to stand strong again. I definitely believe that an external team will be able to make decisions without the emotional tug that a business owner may have for their business. Here are 5 tips I believe we should all follow.

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κρίσις

Determination anD motivation Determination and motivation are the logical consequence of perseverance. The company must have clearly set objectives.

CompetenCe anD awareness In today’s financial and professional environment there is no room for mediocrity, it must be eliminated in favour of a constant quest for professionalism.

imagination anD ingenuity Specific professional know-how on its own is not enough. It must be supported by creativity and the ability to apply logical reasoning in the manner of both architect and engineer.

self-Control The achievement of a result must include managing both urgent items and the stress phases (financial, economic and psychological) of a company’s stakeholders – particularly its customers.

Courage Do not fear about making a decision that will benefit your company. One cannot hesitate when facing an implication that needs resolving. It is essential to be aware of this and to be decisive in advocating new ideas. A company crisis manager needs a combination of the above in order to have confidence in his or her own decision-making responsibility, whilst understanding that the future of other people depends on the decisions that they make. Words by Davide Cognolato Anchorage Group, Restructuring Italia-Switzerland davide.cognolato@anchoragegroup.org

| COVER STORY

www.hamblegroup.com

Celebrating

TUSK

e are fortunate enough to work with some amazing companies and charities here at H Edition Magazine. Tusk is one of those. “Tusk is a small, dynamic and pioneering organisation which has become a highly effective and efficient force in African wildlife conservation. Now celebrating its 25th year, Tusk’s success is rooted in the understanding that the interests of both people and wildlife are inextricably intertwined and that both must be served if achievements are to last. For many rural Africans, their idea of the future is simply surviving from one day to the next. Tusk works to transform their future from one of surviving, to one of thriving. In its anniversary year, the charity aims to raise £5 million to provide lasting solutions for the people and wildlife of Africa and is asking for your support.” Since its formation in 1990, Tusk has raised over £25 ($40) million for a wide range of projects across the continent. The charity has earned a reputation for being financially efficient, with an average of 80% of net funds raised reaching the field. Tusk currently supports 52 field projects in 17 African countries that not only work to protect wildlife, but also help to alleviate poverty through sustainable development and education amongst rural communities who live alongside the wildlife. As the everexpanding human population and its demand for more land brings increasing conflict with nature, Tusk’s aim is to forge an inextricable link between the preservation of Africa’s natural heritage and the future of its land, culture and people. The conservation of wildlife remains a key objective with substantial funding being applied towards the protection of threatened species, such as elephant, rhino, cheetah, chimpanzee, mountain

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years of

and lowland gorillas, African wild dog, giant sable and even marine species such as turtles. Tusk has, with its partners in the field, been at the forefront of promoting and funding community driven conservation programmes. The charity’s holistic approach recognises that the long-term future for wildlife is dependent on education and sustainable development.

Tusk’s Royal Patron HRH the Duke of Cambridge HRH the Duke of Cambridge became the charity’s Royal Patron in 2005 and has been a proactive supporter of Tusk’s work ever since. Like his father The Prince of Wales and his grandfather The Duke of Edinburgh. As Chief Executive of Tusk, Charlie Mayhew has seen The Duke’s commitment to conservation first-hand, “The Duke shares our philosophy that the future of Africa’s unique wildlife relies heavily on our ability to successfully link the livelihoods of the local people with the benefits of preserving their natural heritage.” A few years ago, The Duke of Cambridge and HRH Prince Harry travelled together on a joint overseas tour to visit Tusk projects in Botswana. Together the brothers visited the Mokolodi Nature Reserve. A longstanding Tusk supported project Mokolodi aims to promote a love of and respect for nature in Botswana’s youth through environmental education. Another project they visited was The Botswana Predator Conservation Trust – which is working to develop a bio boundary technique to reduce conflict between farmers and natural predators.

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During a visit to California in 2011, The Duke and Duchess of Cambridge attended a reception to mark the launch of Tusk’s US Patrons Circle at the house of Oscar winning film producer and philanthropist, Steve Tisch. They raised awareness for the charity amongst high profile US supporters, including actress Reese Witherspoon. The Duke of Cambridge has recently honoured leading conservationists who have dedicated their lives to protecting Africa’s wildlife and its unique habitat. At a glittering awards ceremony in November 2014, the Prince presented two campaigners with trophies and substantial grants in recognition of their outstanding efforts in conservation. In a speech, HRH said: “The people we celebrate tonight, the nominees and all those they represent, work in some of the remotest and harshest environments on the continent. They regularly put their own lives at risk for the sake of conserving some of Africa’s rarest and most treasured species. Their unquestioning, selfless dedication to the cause is humbling, and I pay tribute to all of you. “The work of this year’s finalists serves to illustrate some of our greatest conservation challenges: dramatic loss of lion; poaching of elephant and rhino; deforestation and the critical need for community involvement.’’ There was loud applause when Richard Bonham received from the Duke the Lifetime Achievement Honour – the Prince William Award for Conservation in Africa – at an event staged in London’s Claridges hotel. He was honoured for his lifetime contribution www.hamblegroup.com

to safeguarding the wildlife and the Maasai community in Kenya. The winner of the Tusk Conservation Award was Herizo Andrianandrasana, an activist from Madagascar who has been the driving force behind getting local people involved in conservation management in his homeland. Prince William went on to highlight the problems facing some of the iconic animals in Africa. He said: “Africa’s elephant population has crashed from 1.3 million in 1979 to approximately just 400,000 today. South Africa is currently losing more than three rhino a day to feed demand for rhino horn. The African lion is now estimated to be fewer than 25,000, and of course there are numerous lesser known species facing similar or worse fates.’’ He announced that a new award would be presented from next year recognising rangers, the people on the ground tackling the poachers: “These are the men and women at the frontline of the battle – and it is a battle – to save some of the world’s most iconic species. The Rangers face grave danger every day, not only in the form of wild cats or charging elephants, but heavily armed poachers who are just as prepared to shoot and kill them, as they are the animals they hunt.’’ In the words of Charlie Mayhew: “The Duke’s support for Tusk over the years has been immensely helpful in raising both the profile of the charity and the funds that we need. His ability to draw global attention to the plight of endangered species being decimated by illegal wildlife trade has been warmly welcomed by conservationists across the globe and we are enormously grateful to him” For further details on Tusk’s 25th anniversary, or to make a donation, please visit www.tusk.org. Enquiries: mary-jane@tusk.org 23

| EDITOR’S CHOICE

Charlie MAYHEW 2015 is a huge year for Tusk as the charity celebrates 25 years of initiating and funding conservation, community development and environmental education programmes across Africa. Our Editor Dina Aletra interviews Charlie Mayhew MBE, CEO of Tusk on his passion for wildlife and the future plans for the trust Most people know you from charity: what did you do before you started Tusk and how did it all come about? In 1984 I persuaded Willis Faber to sponsor a major expedition across Africa as part of the UN’s International Year of Youth. After 18 months of planning, the team of 33 departed London for Africa, with the personal backing of the then Prime Minister, Margaret Thatcher. Driving in a convoy of 8 four-wheel drive vehicles, the Young Europe Africa Expedition crossed the Sahara and negotiated a challenging crossing of the forests of the Congo. In Kenya, the team undertook a series of projects, recorded by Channel 4 as an early form of ‘reality TV’. The team completed their epic journey to South Africa via Tanzania, Zambia and Botswana. My experiences in Africa spurred me on to try and make some meaningful contribution towards wildlife conservation and with the actor Timothy Ackroyd, we produced a drama to portray the horrors of the ivory trade. In 1992 I co-produced the £3.5m feature film ‘Lost in Africa’ written and directed by Stewart Raffill, which was distributed to over 30 countries 24

worldwide. It was as a part of this film initiative that we established Tusk Trust in 1990.

It’s a phenomenal achievement as Tusk turns 25 this year! What have been your greatest highlights? • Establishment in 2000 of the Tusk Safaricom Marathon in Kenya – this event started as an experiment and is now in its 15th year, having raised over $5 million for Tusk; • Selection as the beneficiary of the Daily Telegraph Christmas Appeal in 2003, which proved a watershed in terms of public profile; • Prince William’s confirmation as Royal Patron in 2005; • Establishment of the PACE (Pan African Conservation Programme, sponsored by Vodafone & DHL, which has had a tremendous impact across the continent and is now available in Francophone countries; • Being the original core investor in Lewa Wildlife Conservancy and the Northern Rangelands Trust, establishing communitybased conservation programmes across www.hamblegroup.com

choice of projects it funds and rigorous monitoring, through its website and all social media, in speeches and publicity campaigns.

With the Trust’s ambitious growth plans, it’s an exciting time to join. What is the Trust’s vision in terms of future growth and objectives the key priorities for helping achieve this vision? Northern Kenya, covering 3m acres, benefitting over 200,000 people. • Finally, the inauguration of the Tusk Conservation Awards in 2013 is regarded as a major milestone in the charity’s history, shining a global spotlight onto the unsung heroes of African conservation.

What can the tourism industry do for the conservation of Elephants and Rhinos? Tourism is a huge contributor to African countries’ GDP & employment and therefore conserving Africa’s natural heritage is as much about preserving these species for future generations, as it is about contributing to economic success and future prosperity. In terms of safari operators on the ground, they have a key role to play in raising awareness of the plight of species like elephant, rhino and lion and play a vital role in providing a watchful eye on the ground for conservancy rangers and managers in their battle against poaching. Ultimately through greater global awareness of the issues facing Africa’s wildlife, the tourism industry will contribute to halting the illegal wildlife trade. www.hamblegroup.com

The tourist industry has a very important role to play throughout Africa, highlighting the situation on the ground, raising African issues to a wide range of visitors, reinforcing the interdependence of wildlife and the flora and fauna with local people living alongside them. In Kenya, 12% of the GDP is derived from tourism, demonstrating its economic importance to the country.

What are Tusk’s values and how do you communicate them to your audience? Tusk’s ethos is based on the fact that conservation is ultimately about people, and its long-term success will be reliant on how successful conservationists are in demonstrating that wildlife has a significant value to the people living alongside it. Tusk’s approach to conservation is based on three core elements and their interconnection: protecting wildlife, supporting community based enterprise and promoting education. Tusk communicates its values of integrity and commitment through the careful

Tusk remains ambitious for the charity’s continued growth in revenue and support base, both in the UK and in the new office in New York. The charity aims to expand its global and the impact of Tusk’s work across Africa. We are very fortunate to gain the support of a number of leading international companies (including Investec, Artemis, BlackRock, DHL, Land Rover, British Airways, ICAP) and the charity aims to foster new corporate partners. In addition, Tusk is fully committed to winning the battle against illegal wildlife trade and the current poaching crisis facing elephant, rhino and lion.

To what degree has digital marketing trends/technologies transformed fundraising strategy? It has helped us hugely. It is extremely beneficial alongside targeted marketing campaigns, enabling us as a charity to cut costs such as printing and postage, whilst increasing our reach. www.tusk.org Facebook: www.facebook.com/tusktrust Twitter: @TUSKTRUST 25

| TRAVEL

CHENNAI

a melting pot of tradition and technology

t seems timely to be visiting Chennai, in the Tamil Nadu region of India this year, when it is celebrating its 375th anniversary. Formerly known as Madras, the city has a strong colonial heritage. Older than Kolkata and Mumbai, it was one of the first English settlements in India. On August 22nd 1639, Francis Day and Andrew Cogan acquired a stretch of land from the Vijayanagar Empire. Just a year after acquiring this land, the English began to build Fort St. George, a fortified trading centre and expatriate community. The first English fort in India, the trading centre and the harbour provided a catalyst for the growth of the city and ensured that, by the time of the Act of Union in 1707, Madras was a key province for the British in India. I’m staying at the five-star Vivante by Taj Connemara, the only heritage hotel in Chennai. First established as the Imperial Hotel in 1854, the Connemara was renamed in 1890 after the Governor of Madras, Robert Bourke, Baron of Connemara. It has a number of carefully restored heritage rooms including “a fine range of specially constructed buildings for bachelors and single men” which formed a key part of the original building and are now luxury suites. The brass plaque outside the ballroom tells me that the Rotary Club has met here for over eighty years and historic photos line the walls. Looking out over a courtyard, with traditional wooden fittings in the bedroom and a well-equipped if slightly dated marble bathroom, it is easy to imagine I have stepped back in time to the days of the Raj. Marina Beach is just a short car journey away and is the longest urban beach in the world. It’s a good place to see some of the heritage buildings from the days of the Raj. There are a number of notable buildings to 26

visit including the Senate House, built by Robert Chisholm in 1879 and considered one of the best examples of Indo-Saracenic architecture in India. Other fine buildings include the State Bank of India, built in 1897 to house what was then the State Bank of Madras. Elsewhere in Chennai, newer buildings like the Taj Coromandel hotel, which opened in 1974, may have a strikingly modern exterior but mimic the colonial styling of British Rule once you get inside. Here, the Presidential Suite has all the grandeur of a past era while the beautifully furnished Taj Club Rooms are located in their own two floors of the hotel. With discreet lounge areas and suites of meeting rooms, together with a 24 hour exclusive butler service, they offer a notably high level of privacy and service for those visiting the city, whether for business or leisure. All of this is in stark contrast to the commercial and industrial sectors of the city. Once dubbed ‘the Detroit of India’, the burgeoning motor production centre with its raft of manufacturers from Ford, Renault and Hyundai through to Daimler and BMW produces around a third of India’s motor components and vehicles. But it’s not all high-tech as Royal Enfield motorcycles still produce the Bullet 350, the longest running model, in continuous production there since 1955. Chennai is now home to a myriad of industries. There is a growing technology sector here, second only to Bangalore in India, which is home to Tidel Park, India’s largest single IT Park, housed on the outskirts of the city and home to Cisco, Tata Consultancy Services and the State Bank of India amongst others. The Electronics Corporation of Tamil Nadu charts a meteoric

growth in Chennai from 34 companies operating in 1995 to 1,427 by 2008. Chennai is also known as the Health Capital of India, thanks largely to Dr Prathap Reddy. In 1983, he returned from the USA to his home city of Chennai to found Apollo Hospital Services. Now employing over 10,000 people, Apollo Hospitals operates across India and in countries including Qatar, Kuwait and Bangladesh and has annual revenues in excess of 715 million US dollars. The city attracts around 45% of India’s inbound health tourists and between 30-40% of those from within India. Nevertheless, the traditional industries of clothing manufacture, together with agriculture are still important to the economy of Tamil Nadu and Chennai itself. Tourism is another key economic driver for Chennai and the Tamil Nadu region, and is dependent both on colonial sites within Chennai and on heritage sites like Kanchipuram some 40 kilometres from the city centre. Travelling to Kanchipuram is an easy day trip and a chance to see something of the surrounding region. The journey there, along the Grand Southern Trunk Route through the suburbs of the city and past the Chennai International Airport, takes you through some of the manufacturing and technology centres. Here there are modern office blocks and factories punctuated by small towns and the occasional temple. New housing developments line the four-lane highway with advertising hoardings promoting American style condominiums complete with all mod cons. The Grand Southern Trunk Route, otherwise known as National Highway 45, is one of the busiest roads in India, with over 10,000 trucks using this highway to reach Chennai every night. www.hamblegroup.com

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This area is the Special Economic Zone (SEZ) corridor of Chennai. Tamil Nadu has the second highest number of these zones in India with many clustered near to Chennai itself. The zones have special economic terms, to encourage domestic and foreign investment. The Indian Government has introduced tax and employment concessions and relaxed export and import quotas. Here in Chennai, with a wealth of international businesses and new investors, these policies appear to be succeeding. Investors are attracted to Chennai and the region both by the SEZ programme and by the availability of skilled labour; Tamil Nadu has one of the highest numbers of technical and professional colleges in India. Therefore, this region is changing fast. Language also plays a key part in the economic success of Chennai. Most of the indigenous population are Tamil speakers, while the national languages of India are Hindu and English. As a result, even street hawkers and beggars seem to speak English fluently. It is a second language, which works both with international business partners and as a means to communicate with the rest of India, a country that boasts over 1,000 minor and 122 major languages. Our trip to Kanchipuram along the Grand Southern Trunk Route takes us past one of the best-known SEZs, Mahindra World City. It is home to 62 companies and employs around 33,000 people including major IT businesses like Cap Gemini and Infosys. The Madras Export Processing Zone (MEPZ) is another SEZ in this area employing nearly 20,000 people through companies including Cognizant Technology Solutions, Computer Sciences Corporation, CSS, and HTC Global Services. We might be in a different country when we reach our destination. Kanchipuram www.hamblegroup.com

is an historic sacred centre, one of the seven Indian cities to reach ‘Final Attainment’ in the Hindu religion and we are here to see some of the temples. We visit Ekambareswarar with its 59-metre tower and Kailasanathar, the oldest Hindu temple in existence, built in the 7th Century AD. Then make our way to Kanchi Matha where the resident elephant blesses me, patting me neatly on the head with his trunk after taking a five-rupee note from my hand in payment. These ancient monuments are constantly in use by pilgrims, all finely dressed and carrying gifts for the gods including garlands of flowers, rice and turmeric paste. Nothing is cordoned off and only a few sacred areas are prohibited to foreigners. This is very much a living religion. Pilgrims at the temples prostrate themselves on the ground before leaving their tributes. The sacred trees within the temple grounds are decked with miniature bassinets, cotton bags of coins and surrounded by tiny stone constructions of ‘houses’ left by those searching for a child, prosperity or a new home. There seem to be temples on every street. On the return journey, we stop in one of the silk districts, home to artisan workers who are still spinning and weaving silk fabric by hand, using looms that are over 150 years old. People here live in small communities of about three hundred families. Traditional skills, along with looms and spindles that are the tools of the trade, have been passed down through generations. Now all that is changing. I visit an artisan family living in a simple onebedroom house. While the weaver and his wife still work together, his son and daughter, both in their twenties, are college educated. One is already a graduate engineer the other studying for her Master’s degree. Neither will be following their parents into the weaving business

and this family intend to employ staff to weave for them. The loom will become a micro-factory, playing a key role in this household’s economic prosperity. My guide, 75-year-old Mrs Anadhi, fluent in German and English has two Master’s degrees. She is immaculately dressed in the silk sari she always wears when she is working. She tells me tales of travelling around Tamil Nadu with the King and Queen of Belgium, Geoffrey Howe and other foreign dignitaries. She and her husband own their detached house in one of the leafier suburbs of Chennai and on the way back from Kanchipuram she invites me to her home to meet him. Her kitchen has a family shrine to the gods, complete with daily offerings of food and flowers, a working well and a stone on the floor for grinding spices. Only the tiny bedroom has air-conditioning. This, she tells me, is a wealthy area of the city. Chennai is a city with a curious juxtaposition of fervent religious belief, myths and superstition alongside modern technology. The highly educated, polite and professional workforce, together with a thriving economy that benefits from a diverse range of industries, a port and an international airport, give this city a real opportunity. There may still be relatively primitive living conditions in the old city, but that is in stark contrast to the homes newly built in the SEZ districts. In 2010, Forbes tipped Chennai as one of the next decade’s fastest growing cities in the world. Life is changing fast here and today’s generation are looking for more. Words by Fiona Maclean For more information about Chennai, please contact: indiatourismchennai@gmail.com or www.incredibleindia.org

| TRAVEL

The

undiscovered paradise Papua New Guinea and its Fantastic Coffee – a fascinating history

or many, Papua New Guinea is a country which is shrouded in mystery, a forgotten place, an exciting land, rich in history, exotic wildlife and equally exotic tribes with strange mysterious customs and a unique primitive culture. Yes it is true, it is all these things but Papua New Guinea is also thriving modern country which has embraced the 21st century and everything modern with an overwhelming passion, yet does so while retaining many links to the past. It is also blessed with rich fertile volcanic soils which are ideal for a host of tropical products including cocoa, coconuts, oil palm, spices and rubber. But it is world famous for its coffee, a coffee with unique cupping characteristics, good acidity, body and excellent flavour as well as aroma. When roasters discover Papua New Guinea coffee, it quickly becomes an established feature within their range, both as an integral part of many of their blends as well as one of their outstanding single origin coffees. The origins of the coffee industry can be traced back to the last century when coffee was first introduced by the missionaries. It was, however, only in the 1950’s that coffee really took off as a significant cash crop with the development of estates and plantations by rugged pioneers throughout the mountainous highland regions of Papua New Guinea. Today coffee is a major industry in Papua New Guinea, accounting for around 43% of the country’s agricultural exports and, more importantly, for a significant part of the total incomes of rural families. It is an industry which is now dominated by village-based small farmers, who produce between 75% and 80% of the annual crop, currently about 60,000 tons a year. It is estimated that there are some 350,000 rural households in Papua New Guinea that depend upon coffee to provide all or part of their income, that’s about half the country’s population of 6 million and about 70% of those living in rural areas. Plantations, larger estates and intermediate sized holdings or “blocks” of between 10 and 20 hectares produce the remainder. The arabica coffees produced in Papua New Guinea, especially those produced on the larger estates, are considered to be among the finest gourmet coffees in the world. The story of coffee in Papua New Guinea is obviously closely intertwined with the history of the country, a truly fascinating story 30

of which there are many misconceptions. Europeans arrived in PNG in the late 19th century but the earliest settlements in the country are at least 40,000 years old. The history of time before the Europeans arrived is told through legends and stories handed down from generation to generation. Glimpses of this history can also be gained through the various different Papua New Guinean art forms, which are as diverse as they are distinctive. Pottery, weapons, carvings, basketwork, musical instruments produced in different parts of the country reflect not only their traditional skills and beliefs, but also the different legends and the history of the tribe concerned. The arrival of the Europeans in the second half of the 19th Century, came about as a result of the major European powers actively seeking to extend their territories overseas by establishing colonies in Africa, Asia and the Pacific. The great “Island of New Guinea” was, in fact, one of the last overseas territories to be partitioned in this quest for new land. The Dutch established themselves in the western half of the Island and retained possession until it became part of Indonesia in 1963 as the province of West Irian or Irian Jaya. In 1884 Britain proclaimed a protectorate over much of Eastern New Guinea, while at the same time Germany annexed the north coast of the Mainland plus New Britain, New Ireland and Bougainville. Britain continued to administer the colony of Eastern New Guinea until 1906 when the Papua Act came into force transferring administration to Australia and changing the name to Papua. At the outbreak of the 1st World War, the Australians occupied German New Guinea and in 1919 were granted a mandate from the League of Nations to administer the former German territory. Australia continued to administer the Territories of Papua and New Guinea until September 16th 1975 when it became the Independent State of Papua New Guinea. There is evidence that coffee was first grown in the 1880’s in the botanical gardens of British Papua and that as many as 20,000 coffee trees had been planted in the highland areas near to the country’s capital Port Moresby on the Sogeri plateau by 1899. Reports also suggest that coffee was planted in the New Guinea side of the country at Wau in the Morobe Province around 1928, although the commercial development of the industry only really www.hamblegroup.com

took place in the 1950’s and 60’s with the establishment of estates and plantations in the Morobe, Eastern and Western Highland provinces. Practically all of the subsequent development took place in the smallholder sector which today accounts for the bulk of coffee produced in the country. At first there was some suspicion about this strange red berry among village elders who predicted that it would bring bad luck and may even harm that much prized asset – pigs. But coffee growing was enthusiastically accepted and adopted by the small farmers and today coffee is very much an integral part of every highlander’s life. Indeed coffee has taken on its own sub-culture with status and prestige very much determined by the size of an individual’s coffee garden. All major cultural activities such as celebrations, bride price payments, traditional exchanges and feasts are now organised around the coffee season. The main harvest is from late March/early April though to August, although this varies slightly from year to year depending upon the weather. Papua New Guinea is a great country with a fascinating history which also produces some really fantastic coffees – try it – you will not be disappointed. Words by Mick Wheeler Overseas Representative – Papua New Guinea Coffee Industry Corporation. www.pnghighcomm.org.uk www.coffeecorp.org.pg/ www.hamblegroup.com

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BENTLEY MULSANNE SPEED

t the heart of the Mulsanne Speed is Bentley’s iconic 6¾-litre twin-turbo V8 engine, which has been re-engineered for the Mulsanne Speed as well as the signature Mulsanne. A totally redesigned combustion system (including combustion chamber, inlet ports, fuel injectors, spark plugs, and compression ratio) promotes a much faster and more controlled combustion process. Through combining these advances with new variable valve timing and optimised turbocharger control, torque output of the engine has been pushed to record levels – 1,100 Nm (811 lb.ft) from 1,750 rpm. The swell of torque from low engine speeds builds to a new peak power output of 537 PS, enough to drive the Mulsanne Speed to a top speed of 190 mph (305 km/h) – an unrivalled figure in the ultra-luxury sector. The 060 mph sprint is covered in 4.8 seconds, with 0100 km/h taking just 4.9 seconds. The new engine is paired with a recalibrated gearbox designed to enhance the driving experience of the Mulsanne Speed. The gear strategy is optimised for the new, higher wave of torque, and is designed for instant torque delivery on throttle application. The connection between the car and driver has been the focus, and extensive validation with both keen drivers and professional chauffeurs has proven the new setup. A new “S” mode gives the driver even more control, and maintains the engine speed above 2,000 rpm so that the turbochargers are always ready to deliver instantaneous performance. An extensive recalibration of the engine management system has yielded benefits beyond increased torque and power. The cylinder deactivation system, that runs the engine as a V4 during light load, has been retuned for smoother transitions between V8 and V4 for even greater refinement. This work combines with a new gearbox 32

control strategy and the engine hardware improvements to give a new level of efficiency for the Mulsanne engine. Meeting the new EU6 emissions legislation, and designed to also meet the upcoming US LEV III standards in the future, the new powertrain records 342 g/km of CO2 on the NEDC drive cycle – a 13% improvement on the current Mulsanne. The ensuing fuel economy improvements have extended the fuel range of the new Mulsanne Speed by 50 miles (80 km).

A Chassis System Tailored to the Driver To deploy the effortless power and acceleration on offer in the Mulsanne Speed, an even more driver-focused Sport suspension mode is included. While the Bentley and Comfort suspension modes provide a comfort-focused and fully compliant chassis setup, the Sport mode stiffens the all-round air suspension for improved body control and adjusts the steering dynamics for greater feedback and accuracy. The driver can also choose to individually match steering, chassis and engine tunes according to personal preference through the Custom setting.

An assertive exterior The Mulsanne Speed reflects its ground-breaking performance with new and more assertive styling features that are marks of distinction for Bentley’s pinnacle flagship. A dark tint finish is applied to the exterior stainless steel matrix grilles, in a process unique in the automotive industry, with the radiator grille, lower bumper grilles and wing vents all featuring this exquisite treatment. The distinctive headlights of the Mulsanne show the same dark tint application, and at the rear of the car the taillights retain the “floating ellipse” design, but www.hamblegroup.com

“

The new Mulsanne Speed is the car that defines Bentley, as a flagship for driving luxury performance. Our customers don’t compromise, and we’ve adopted the same approach in the design, engineering and crafting of our new flagship. The Mulsanne Speed is distinguished, calm and relaxing, but always with a connection to the road and relentless dynamic performance on demand. In this car, every journey becomes a drive

”

Chairman and Chief Executive of Bentley Motors, Wolfgang Dürheimer

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are similarly finished with a dark tint for a striking appearance, especially at night. The Mulsanne Speed introduces Bentley’s first ever directional style wheel, with a design that is handed for the right or left side of the car. The 21” wheels, available in painted, polished and dark tint with machined accent finishes, are individually machined from solid forged blanks, before being perfected by hand. Twin rifled exhaust tailpipes are the finishing touch to the revised powertrain, while solid, polished stainless steel Speed badging adorns the front fender and door tread plate areas. Four new exterior paint colours are introduced for the Mulsanne and Mulsanne Speed. These are: • Spectre: Seemingly black at first glance, heavy gold metallic and a hint of green result in a rich tone inspired by reptilian skin. • Candy Red: A rich and deep liquid red. • Camel: Reminiscent of golden sands, Camel has a bright metallic highlight with a butterscotch mid-tone. • Marlin: A rich blue with a hint of green, inspired by the shade of deep ocean waters and with a metallic shimmer. The “standard” paint range covers 25 shades, including Marlin, while the optional extended range features over 100 colours. A fully bespoke paint-matching service is available on request.

A Cabin of Contemporary Luxury The cabin of the Mulsanne Speed is a contemporary reinterpretation of the exquisite interior of the Bentley flagship. To create a modern two-tone feel, a new and unique colour split is available, with new stitch lines, that balances diamond quilted light-colour hide with darker, smooth hide. A new technical veneer option is available, with Piano Black veneer panels now including expertly handcrafted carbon fibre inlays. These new, contemporary panels have been especially developed for the Mulsanne Speed and match the rich, lustrous finish of the Piano Black veneer. The Mulliner Driving Specification interior features are fitted as standard to the Mulsanne Speed, and includes: • Diamond quilted hide door panels and seats • Indented hide headlining www.hamblegroup.com

• Embroidered Bentley emblems to all seats • A coined finish to interior door handles • Knurling to the sports gear lever and “organ stop” ventilation controls • Drilled alloy sports foot pedals Customers can choose from 24 different hide colours, in six different colour splits, and ten different veneers (seven as cost options) when specifying their Mulsanne Speed. Included in these ranges is a new hide colour, Camel (to match the new exterior paint of the same name) and a new veneer to the Mulsanne family, Tamo Ash.

Concealed Technology and Endless Customisation Concealed beneath the exquisite materials that define the Mulsanne Speed cabin is a suite of technology to make any journey as productive or relaxing as one desires. A 60 GB on-board hard drive can store the driver’s collection of music and films. Electricallyoperated tables, with recesses and connections for iPads and matching keyboards, can be fitted to the rear of the front seats, while on-board Wi-Fi through a dedicated router keeps the car connected to the outside world. A frosted glass bottle cooler, complete with bespoke crystal champagne flutes, may be installed behind the rear armrest. A 2,200 watt Naim for Bentley premium audio system expands on the standard 14-speaker system and offers the best in-car sound experience in the world. Entertainment on-the-move can be provided through the Rear Seat Entertainment system, including two 8” screens and Bluetooth headphones.

Signature Mulsanne updated for 2015 The signature Mulsanne ultra-luxury sedan has been updated for 2015, to complement the launch of the performance-focused Mulsanne Speed. The Mulsanne receives the same efficiency upgrade through new engine hardware, with its 512 PS (505 bhp), 1,020 Nm (752 lb.ft) 6¾-litre twinturbo V8 engine also now 13% more efficient. Changes have also been made to the gearbox calibration of the Mulsanne, focussing on smoother, relaxed gear changes that promote a comfortable and refined driving experience. www.bentleymotors.com 35

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VeRTU Launches AsTeR

The Quintessentially English Smartphone

ster is the new, quintessentially English smartphone from Vertu the English manufacturer of luxury mobile phones. Handmade and finished by craftsmen, using the most luxurious materials, in an exquisite palette of colours, Aster can also be personalised with a monogram or engraving. The new handset features Dolby® Digital Plus virtual surround sound and Hasselblad certified imaging, as well as Vertu’s full portfolio of services, which comprises Classic Concierge as well as Vertu LIFE and Vertu CERTAINTY packages. Together these features combine to create a rare and indispensable lifestyle accessory. Massimiliano Pogliani, Vertu’s Chief Executive Officer, said: “There has always been significant consumer desire for Vertu products that make a lifestyle statement. Many of our consumers not only appreciate rarity and craftsmanship in the goods that they choose to own, but desire products that reflect modern styling and trends in their colour palette and material. They expect a statement piece that not only performs to the utmost standard technically, but is also beautiful as an object as well. In contrast to Signature Touch, which has seen its popularity soar amongst our more traditional and corporate customers and is very masculine in design, with hard, straight, edges and classic lines, Aster is a more unisex offer and appeals to a different customer; someone searching for something a little more glamorous. In Aster we looked to create a handset that was not only engineered to perform to the highest standard, but one that would complement our customers’ lifestyles in its capacity as a fashionable accessory. For those desirous of luxury and understated elegance, but unwilling to compromise on performance, Aster is the ultimate lifestyle handset.” www.hamblegroup.com

He continued, “Over the last two years we have expanded our product range with specific consumers in mind. Powerful technology now runs throughout all Vertu devices and there has been tremendous opportunity for us to tailor designs, materials and service suites to meet differing consumer needs and desires. Today, we have a coherent, segmented product portfolio in which every model delivers Vertu’s unique combination of craftsmanship and materials, services and technology, enabling our global consumers to choose from distinctly different flavours of our brand whilst still receiving the ultimate Vertu experience. We will go further with our segmentation strategy over the next 18-months, expanding at either end of our current range through elements such as higher end materials and services or a wider variety of personalisation options, for example. Importantly, all future products will continue to be true to the Vertu spirit.”

Design Aster delivers a very contemporary version of some of the signature elements found in Vertu phones. For example the traditional V pillow is made of titanium and uses clean horizontal lines and a simple geometry. The strong vertical sides are created by cutting a scoop into the titanium and using different finishes to bring the profile to life. This creates a surface that is a pleasure to hold. Edges are much softer to create a less masculine aesthetic. The soft, almost fluid lines of the handset are enhanced by the use of a grade 5 titanium casing, featuring a mix of brushed and polished finishes that sweep the sleek lines of the handset and contrast with its textured, natural grain leather, sourced from the finest tanneries in Europe.

A single 117 carat, 5.1” piece of 5th generation solid sapphire crystal protects Vertu Aster’s 4.7” HD display and 13mp camera lens from scratches. Vertu has been using sapphire for luxury mobile phones since the late 90s and has continuously developed the technology for this precision application. Now, with more than a decade’s experience of growing, cutting, polishing and bonding, Vertu has become the foremost expert in sapphire crystal screen technology for mobile devices. Impervious to anything less than diamond, solid sapphire crystal is strong, highly scratch resistant and optically perfect. Vertu’s Creative Director, Ignacio Germade, said: “In Aster we have created a phone that, whilst softer in its lines, remains unisex in essence. Key Vertu design cues are incorporated, however we have chosen to significantly soften them in the Aster design. We have selected rich colours, across three different leathers, Calf, Karung and Ostrich, which each lend character and personality, adding depth to the textural contrast of the beautifully finished titanium and hand crafted leather.” Aster will launch in a palette of six, rich colours, across seven product executions: Onyx Calf, Blush Calf, Lagoon Calf, Caviar Karung, Tangerine Karung, Cognac Ostrich and Raspberry Ostrich. A range of eleven Aster cases, in three different styles, have been designed to complement the Aster handset collection. Aster is hand-bound in leather sourced from tanneries that supply the world’s leading fashion houses. Each piece of leather is unique meaning no two Vertu Asters are completely identical and owners can further customise their Aster with Vertu’s personalisation service. Prices start at £4,200. www.vertu.com 37

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A surprised gathering in Geneva were introduced to the most complicated wristwatch Philippe Patek has ever made, the Grandmaster Chime

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It’s complicated Patek Philippe celebrates its 175th anniversary with the launch of the most complicated wristwatch in its long and illustrious history

he first inkling we got of Patek Philippe’s 175th anniversary collection was at the Baselworld spring watch fair, when the brand announced it would be keeping its powder dry until October. Leading up to launch, some rumours had predicted a new ‘supercomplication’, others – inexplicably – that plans were afoot to launch a special version of the Nautilus. In the event, none of them was right. Patek surprised a gathering of VIP clients, retailers and press at its manufacture in Geneva by introducing the most complicated wristwatch it has ever made. The new Grandmaster Chime Ref 5175 has 20 complications, including five chiming functions. That total beats the brand’s previous record held by last year’s vaunted Sky Moon Tourbillon, which mustered a very respectable 12 complications. Those five chimes include two never seen in a watch before. First is a date repeater, which chimes the date on demand, like a minute repeater chimes the time. The other is an acoustic alarm that chimes the alarm time. The 5175 also features a grande sonnerie and a petite sonnerie, the former appearing in a Patek wristwatch for the first time. When a grande sonnerie is activated, it chimes the top of every hour and the hours and quarter hours every quarter, compared with a petite sonnerie, which chimes the hours and quarters. The fifth chime is a minute repeater. Sonnerie functions are notoriously power hungry, a problem Patek has overcome by giving the watch two big-hitting power reserves. The sonnerie power reserve will run for 30 hours, even when the grande sonnerie is activated, while the watch’s timekeeping functions are fuelled by a 72-hour reserve.

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Timekeeping functions include a perpetual calendar with leap and four-digit year indicators, and a second time zone. Function and mode indicators make up the remaining complications. Behind this array of features is a movement made of 1,366 parts that took seven years to develop. Patek has surrounded it in a 47.4mm rose gold case that’s a mechanical marvel in its own right. Reversible on an axis between 12 and 6 o’clock, it rotates and locks into place so its second dial sits face up. The case is hand-engraved with a decorative laurel motif in relief that Patek reports took ‘several hundred hours of work’. Only seven will be made, and the watch will cost 2.5 million Swiss francs.

Chiming Jump Hour Ref 5275P £254,310

Alongside the Grandmaster Chime, Patek unveiled a host of anniversary pieces. These include the Chiming Jump Hour Ref 5275, a series of six Multi-Scale Chronograph timepieces, a pair of World Time Moon watches, and a collection of artful pieces that celebrate Patek’s Rare Handcrafts. There will be a chance to see the 175th anniversary collection in the flesh when it goes on display at the Patek Philippe Grand Exhibition in London’s Saatchi Gallery next May. For details, visit www.patek.com/london2015

Multi-Scale Chronograph Ref 5975P £63,990

By Robin Swithinbank This story first appeared in Calibre magazine, produced by Northstar for Watches of Switzerland. Watches of Switzerland’s 155 Regent Street, London showroom has one of the world’s largest collections of Patek Philippe watches. Find details at: www.watches-of-switzerland.co.uk #155RegentStreet

World Time Moon Ref 7175 £41,020

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An insider’s Guide to Buying a Private Jet

So you have decided to join the ranks of Jay Z, Oprah Winfrey, Jackie Chan, Lord Alan Sugar and lots of lesser known CEOs and UHNWIs, and purchase your own jet

he benefits of jet ownership are many – privacy, comfort, security, prestige, time and safety. Business jets have the safest track record to date but the biggest advantage for CEOs is the time saved. It means busy executives can fly direct and non-stop, usually working on board, with minimal check in times and no luggage or customs delay. The Samsung Group, for example, owns three private jets which clock up about 100 flights per year. According to their spokesperson, when Samsung Electronics holds investment presentations in the U.S. it takes one week to tour major cities by private jet while it would take 20 days by commercial flights.

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What’s Your Mission Profile? Working with an aircraft broker you will need to develop your mission profile which will help determine what class and size of jet would best suit your needs. Aviation experts suggest that 350 to 400 hours of flight time per year usually justifies full ownership of a jet for a company’s top executives. Otherwise, you should consider fractional ownership or a jet card or occasional ad-hoc charter. A clear solid strategy that explains and justifies aircraft use is vital for big corporations whose activities may be scrutinized by shareholders or the press. Tesco is a classic example. Amongst falling profits and allegations of fraud the press revealed

that the company had wound up its fleet division which owns 4 private jets just days after it took delivery of a new $50m (£31m) Gulfstream G550 executive jet.

New or Pre-Owned? Buying a new jet brings entry to a pretty exclusive club. The new jet sales market is worth approx $20.5 billion this year according to Honeywell International, up half a $billion with 675 jets scheduled for delivery before year end. Sales in AsiaPacific are down 12% and North America by 6%. Europe was the only market to grow, and by 6%. The purchase of a new jet can take a couple of years, depending on manufacturer

and order book lengths, and even longer if you want a refurbishment from the world’s top designers like Andrew Winch or Philippe Starcke. Some new jet buyers resell their positions to maximize their profits. The latest jets on sale, but not delivered yet, are the wide cabin Gulfstream G500 ($43.5 million) and G600 ($54.5 million) which can take up to 18 passengers and will be among the fastest jets in the world. At the other end of the market, a light jet like the Hawker 400XPR which can be configured for 6-9 passengers sells for US$3 million. As for used jets, according to JETNET – “Business jets are showing a strong start in the first nine months of 2014. Compared to last year, sale transactions are up 12.1%, the average asking price is down 10.4%, and they are taking 43 fewer days to sell.” This is good news for sellers but not so for buyers who have enjoyed a “buyers market” over the last five years, however this is still a great time to buy a pre –owned jet. Prices range from a 10 year-old 7seater Cessna Citation CJ1s for about $1.7 million to a 4 seater Dassault www.hamblegroup.com

Falcon 7x for US$41,500 million. Preowned purchase can also be lengthy due to the many legal, engineering and safety checks required. And even longer if you want the whole aircraft refurbished with costs running from about US$750,000 to $2 million.

Finance – Buy or Lease? The structure of how the investment is financed is crucial. You can buy aircraft outright, charter or by fractional ownership. Your broker will outline the key financial, tax and legal implication of each option, plus the importance of maintaining the value of your asset – with regular maintenance and overhauls, correct hangerage, security etc and put together an Aircraft Acquisition Plan which will include projected costs for annual operations including crew and fuel etc. Your plan should cover a five year period and factor in depreciation values. There are opportunities to overset your costs by enrolling in a charter programme. A typical charter will cost £1,000 an hour for a small jet like a Cessna Citation Mustang

to £6,000 for a Gulfstream 550 – with some of that fee returning to the owner.

Management Ideally you will want an FBO (Fixed Base Operation) close to your home or business HQ, where your jet will be kept in a hangar. Aircraft management companies such as Tag or Gama Aviation offer services including flight planning, legal and aviator compliance across borders, visas, safety, crew, catering, refuelling and maintenance. The cost for management varies between £75,000 and £150,000 per year, depending on the size and usage of the jet. There’s a lot to think about but you can find more information, a dealer directory and all the latest jets for sale at www.avbuyer.com Words by Jayne Jackson Interior Aircraft Images Courtesy of Andrew Winch Design www.andrew-winch-designs.co.uk Gulfstream images Courtesy of Gulfstream 43

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The Master Distiller’s Story Alan Winchester was appointed as Master Distiller of The Glenlivet in 2009. He mastered a dazzling succession of skills as mashman, brewer and stillman in 20 distilleries until he reached his present position, applying his wisdom and passion at every level. He talks about his passions and what makes the Vintage 1964 of The Glenlivet Winchester collection so special, limited at 100 bottles priced at $25,000 each.

s Master Distiller, Alan Winchester is the ultimate custodian of The Glenlivet. It is his job to ensure the legacy that George Smith began all those years ago continues: that the whisky is always of supreme quality and that all new products reflect the spirit’s character and depth. A tremendous responsibility, and one that he takes great pride in. For 50 years, Vintage 1964 has been carefully guarded and cared for by generations of Master Distillers. Winchester has been anticipating the release of the Vintage 1964 of the Glenlivet Winchester Collection for quite some time. His job was to complete the task started by Bill smith Grant when he laid down the original casks 50 years ago.

What makes the Vintage 1964 of The Glenlivet Winchester Collection so special? What makes it so special is that it shows that we have kept the legacy of the Smith family alive. When Bill Smith-Grant laid down the original casks in 1964 the world was a very different place and yet, while everything was going on around them, the casks just sat there with time helping to create the amazing end result which the world will soon have the opportunity to savour.

Why is Vintage 1964 of The Glenlivet Winchester Collection a welcome addition to The Glenlivet portfolio? It shows the depths of what The Glenlivet can achieve. Only time has helped us create this amazing vintage, as well as sticking to the traditional methods that have been used since the very first bottle of The Glenlivet was created.

Were there any challenges and how did you overcome these? The only challenge was keeping it for 50 years. There will always be people who want a 20 or 30 year old vintage. Our challenge was to hold off and realise that the wait really would be worth it. And it is.

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What three words would you use to describe the end result? Precious. Heritage. Unique

What are you most proud of with the 50 Year Old? I am proud that with this vintage we are giving The Glenlivet lovers a chance to sample the ultimate expression

How should those who buy Vintage 1964 of The Glenlivet Winchester Collection look after it? My advice is to buy two – drink and enjoy one and keep one for investment! Like all our whiskies, it is a single malt to share with friends. Keep it on display so it prompts conversation – there is so much to tell about the people who created it and the history which is in effect, bottled. You never keep whisky on its side like you do with wine as you need to keep the spirit away from the cork as it will attack the liquid. If the bottle isn’t kept on display, I would suggest keeping it in a cool area away from sunlight. But with this bottle in particular it just has to be seen and admired, not hidden away.

You have been in the industry for over 40 years. Where does your passion come from? An old schoolteacher, Charles Lamb, inspired me. He always advised to get a job you enjoy and that is exactly what I did. I love whisky, which is obviously important, but I also have a passion for history and understanding how things came about, so my job really is the perfect job for me.

What does a typical day for you involve? There is no such thing really but, as well as ensuring the quality of the spirit we are producing is the best in the world, there is the usual housekeeping of running a distillery. What is always on my mind is that the casks I am laying down today have to be good enough for someone

fifty years in the future. It is a big responsibility, but one which I relish. Once a week we will use our noses to check on the quality of the production. Smell can tell us so much.

Can you tell us something interesting about your work that we wouldn’t know? We never taste while we are working…I would not get much work done if I tasted it all the time!

What advice can you give those aspiring to get into your line of work?

Why do you think in this modern age people still value and appreciate traditional craftsmanship

I fell into it after not being able to get into the Navy. Learning the industry from the bottom up, combined with all the key distilling qualifications, just fuelled my passion for the work. You have to study the science behind creating the perfect spirit, but you also need to combine it with understanding how the process works on the ground.

It’s about the stories and the passion behind something, and the quality that guarantees. It is also about really understanding where something has come from. Take The Glenlivet – you can only get it from here in Speyside, nowhere else.

What is your proudest achievement at The Glenlivet?

Of course the operation has expanded and while the stills used to be heated by coal they are now heated by clean natural gas. But the process of creating The Glenlivet has remained the same, which is what makes it so very special.

It has to be being made Master Distiller in 2009. It was a huge honour.

What does pioneering spirit mean to you? I am not just saying this because of my links with The Glenlivet but, to me, George Smith was the embodiment of pioneering spirit. He was the first one to take out a distilling licence in 1824 and it was a risk because his neighbours who were making whisky illegally were not happy about someone going “legit”. His son then went on to court to protect the name, which was also a first in terms of copyright. But it was typical of the Smith

family. They were the first to bring electricity into the process and the first to see the potential of the railway to get goods to market. After the war, Smith-Grant even targeted the USA as it came out of prohibition, which is probably why The Glenlivet is so popular in America today. Every generation of the Smith family had another pioneer. It must have been in the blood.

How has life changed at The Glenlivet since the casks were laid down 50 years ago?

What next for The Glenlivet? We will continue to keep looking at how we can excite single malt lovers around the world with more 50 year old releases to add to the Collection. We may use traditional methods that are nearly 200 years old, but we also have a passion to keep innovating, to keep exciting whisky lovers and to continue to entice the next generation of whisky lovers.

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LONDON www.heditionmagazine.com

LONDON LIVING The best places to see and be seen

LONDON TO MANHATTAN The new concept in property ownership

STRESSED IN THE CITY The Priory Group launches its first Wellbeing Centre in the City of London

LONDON LIFE | BUSINESS | EVENTS | INTERVIEWS | LUXURY

theo fennell

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NiGhT TUBE The 24-hour ‘Night Tube’ services at weekends will begin operation from September 2015. Transforming night time journeys across London for millions of people, In time for the Rugby World Cup in England. Londoners and visitors to the capital will be able to travel on the Jubilee, Victoria and most of the Piccadilly, Central and Northern tube lines at any hour of the night on Fridays and Saturdays. It is estimated that the Night Tube will lead to a gross impact of 1,965 permanent jobs. For further details, visit www.tfl.gov.uk

V&A’s Alexander McQueen: Savage Beauty exhibition The Alexander McQueen: Savage Beauty exhibition will be showcased at the V&A this spring. The first and largest retrospective of the late designer’s work to be presented in Europe, the exhibition will showcase McQueen’s visionary body of work from his 1992 MA graduate collection to his unfinished A/W 2010 collection. Garments on display will include pieces lent by the Isabella Blow Collection and the House of Givenchy. Exhibition opens on 15 March 2015 and will run until 19 July, www.vam.ac.uk

Government turns 1,000 public buildings into Wi-Fi hotspots More than 1,000 public buildings in cities across the UK are to be turned into free Wi-Fi hotspots, some have already gone live, and the remainder are all on track to be up and running by March 2015. Over the coming months, libraries, museums, civic centres, transport hubs, sporting complexes and other buildings around the UK will begin to offer free Wi-Fi. The project is part of the Government’s £150m SuperConnected Cities programme aimed at transforming the digital capability of UK cities, ensuring our cities boast worldclass connectivity and are equipped to deal with the increasing demands of the digital age. For further details, visit www.gov.uk

EUROSTAR’S NEW YEAR-ROUND JOURNEY High-speed cross-Channel train operator Eurostar has announced a new all year-round service for 2015, the route will run direct from London to Provence stopping at Lyon, Avignon and Marseille. The service will start in May 2015, running up to 5 times a week, depending on the time of year. For further details and tickets, visit www.eurostar.com

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London Life LIVING THE

Where to stay

Where to eat

Hotel Café Royal

Hélène daRRoze at tHe ConnaugHt

Café Royal’s luxury rooms are some of the largest in London. Each is entered by a generous lobby with double doors leading onto bathrooms created exclusively in Carrara marble, a signature throughout the hotel. Amongst the collection of modern and impeccably finished guestrooms and suites, Café Royal hotel also boasts six historic suites, each with their own aesthetic, character and story. Hotel Café Royal, 68 Regent Street, W1 (020 7406 3333; www.hotelcaferoyal.com)

london MaRRiott Hotel County Hall Centrally located on London’s South Bank, the luxury 5* hotel blends traditional grandeur with modern comfort, creating a unique and unforgettable hotel experience. Luxury rooms and suites boast individual climate control, spacious work areas, Internet access and plush bedding. Many of the rooms in the historic hotel also offer breath-taking views overlooking Big Ben, the Houses of Parliament and the River Thames. London County Hall, Westminster Bridge Road, SE (020 7928 5200; www.marriott.com) 50

One of the ultimate 5-star luxury experiences in London. Located in one of the most exclusive and fashionable parts of London and is a perfect blend of contemporary style and classic English character. It occupies a quiet corner of ‘Mayfair Village’ on Carlos Place beside Mount Street and Grosvenor Square. Enjoy delectable French cuisine made by one of France’s greatest exports at Hélène Darroze at The Connaught. Carlos Place, Mayfair, W1 (020 7107 8880; www.the-connaught.co.uk)

Hutong Situated on level 33 of The Shard, Hutong serves the fascinating and diverse cuisines of Northern China; Hutong’s cuisine takes its inspiration from the dishes served in the imperial palaces of what was then Peking. A cocktail selection inspired by ingredients used in traditional Chinese medicine, and a stunning traditional Chinese interior with red lanterns and beautiful hand-carved wooden ‘Moon Gates’, a new destination restaurant with panoramic views over the capital. 33, The Shard, 31, St Thomas Street, SE1 (020 3011 1257; www.the-shard.com)

Quaglino’s The iconic restaurant and late-night venue in the heart of London’s Mayfair St James’s, has re-opened its doors following a full-scale, multi-million pound renovation. The menu, designed by Executive Head Chef Mickael Weiss, is a masterclass in European classics, with a nod towards Middle Eastern spicing, using the highest quality British ingredients. 16 Bury St, Mayfair, SW1 (020 7930 6767; www.quaglinos-restaurant.co.uk)

stelle di stelle at HaRRods Don’t miss out experiencing the taste of Italy with the last two remaining months of Harrods ‘Stelle di Stelle’, a pop-up collection of Italy’s most celebrated destination dining rooms. The pop-up launched in September welcoming five of Italy’s best Michelin starred restaurants to take up residency in the Knightsbridge store. Headlining for one month each until the end of January 2015, providing a special edit of their signature dishes. Further details: (020 7893 8700 www.harrods.com) www.hamblegroup.com

Events london new yeaR’s day PaRade The London New Year’s Day Parade is a free family event which has evolved into one of the world’s great street spectaculars with this year’s show bringing more than 8,000 performers representing 20 countries. Since launching in 1987, the parade has gone from strength to strength attracting around 500,000 spectators each year. The LNYDP begins at 12 Noon and finishes at 15.30 with the route running from Piccadilly near Green Park Tube Station to Piccadilly Circus, Lower Regent St, Pall Mall, Trafalgar Sq., Whitehall to Parliament Square. For further details, please visit www.lnydp.com

london Boat sHow Europe’s first boat show, now in its 61st year returns to the Excel Centre. This world-renowned event is where adventure starts, pioneers meet and innovation shines. Immerse yourself in the elements and explore a world of boating, the very latest in technology and show-stopping experiences that will really capture your imagination. 9 -18 January 2015, Excel Centre, www.londonboatshow.com www.hamblegroup.com

disoBedient oBjeCts

iCe Rink CanaRy wHaRf

This exhibition is the first to examine the powerful role of objects in movements for social change. It demonstrates how political activism drives a wealth of design ingenuity and collective creativity that defy standard definitions of art and design. Disobedient Objects focuses on the period from the late 1970s to now, a time that has brought new technologies and political challenges.

Located in the heart of Canary Wharf, this year’s ice rink features the return of the beautiful ‘skate path’, which leads skaters under trees lit with fairy lights then back onto the main rink. The popular attraction will this year be heating things up with Q on Ice, a new pop-up restaurant by restaurateur Des McDonald. Q on Ice offers a wide selection of food and drink. Sample the BBQ menu and raw bar, or treat yourself to some winter inspired cocktails. The menu is packed with the best seasonal produce, lots of locally sourced ingredients and secret seasonings. The bar also features an outdoor viewing terrace from which non-skaters can watch the fun.

Exhibition open until 1 February 2015, Victoria and Albert Museum www.vam.ac.uk

Post PoP: east Meets west The exhibition brings together 250 works by 110 artists from China, the Former Soviet Union, Taiwan, the UK and the USA in a comprehensive survey celebrating Pop Art’s legacy. Post Pop: East Meets West examines why of all the twentieth century’s art movements, Pop Art has had such a powerful influence over artists from world regions that have had very different and sometimes opposing ideologies.

Open through winter until 28th February 2015 (every day except Christmas Day) Montgomery Square Park, Canary Wharf. Tickets can be booked online at: www.icerinkcanarywharf.co.uk

Exhibition open until 23 February 2015 Saatchi Gallery www.saatchigallery.com

becky.cowing@hamblemediacomms.com

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Stressed in the City? The Priory, famous as ‘Britain’s Betty Ford Clinic’ and known for its many celebrity clients, opened a brand new clinic in the heart of the City of London. The clinic will be the Priory’s first ‘psychotherapy centre’ and boasts 15 counsellors and psychotherapists who will offer treatments ranging from cognitive behavioural therapy to ‘eye movement desensitisation reprocessing’.

he new clinic aims to tackle the growing levels of anxiety and stress which are increasingly common among City executives. Located close to that bastion of the City, and of City-related stress, Lloyd’s of London, the clinic will be hoping that companies like Lloyd’s will buy deals from them for their staff. Tony Urwin, occupational psychologist and Managing Director explains: “There’s a growing demand by large UK corporates to invest in the mental wellbeing of their employees and maintain London’s reputation as one of the world’s top financial centres – as well as one of the emotionally healthiest. The centre will see clients for mental health issues such as stress, anxiety and depression, through to issues such as sleep disorders, OCD, phobias and even eating disorders and addictions”. The need for such a facility is backed by research: the Centre for Mental Health (CMH) claims that, nationwide, mental ill health cost employers £26 billion. In London and the south east alone last year, www.hamblegroup.com

more than 3.5 million days were lost to sick days for stress, depression and anxiety. The death of an intern, following endless all-nighters, at Merrill Lynch last year further highlights the impact the pressure City life has on employees. Following this incident, the Bank of England, reporting that many of its 3,000 staff had reported suffering from stress since the financial crisis, pledged to tackle problems caused by mental illness. As a result, together with other high pressure workplace employers including Goldman Sachs, Lloyd’s, Clifford Chance, Linklaters, Deliotte, KPMG and PWC, the Bank of England has set up the City Mental Health Alliance (CMHA), which aims to offer quick, easy help to those who need it. Backing CMH and emphasising the ways that the stresses of City life can cause mental health issues, Mind’s Head of Workplace Wellbeing, Emma Mamo, welcomes the CHMA and points out the benefits for companies who look after their staff’s mental health: “Companies that prioritise the mental wellbeing of their staff

reap rewards in terms of loyalty, morale and productivity – not to mention reduced sickness absence.” There is some cynicism among City employees about such initiatives, with some people feeling that they are less about employee welfare than they are about the company’s bottom line. However, Urwin claims that things are changing, pointing out that high functioning City workers used to be less likely to ask for help from their managers because they did not wish to be seen as weak, but that “tangible personal and financial losses are forcing managers to take proper notice of the issue.”

Going for the burn? De-stress and avoid ‘burn out’ Burn out is a state of emotional, mental and physical exhaustion caused by excessive and prolonged stress. If you recognise the signs of stress related burn out in yourself, there are some things you can do to stop it in its tracks: Start your day with a relaxing ritual Rather than jumping out of bed and heading straight for the coffee, try spending 15 minutes meditating, writing or doing some gentle exercise Eat well, sleep well, move more A healthy diet, plenty of sleep and regular exercise your body and mind will help your body cope with stress. Learn to say ‘No’ If you’re too busy, learn to say ‘no’ to requests for your time. Switch off Set a time each day when you completely ‘disconnect’ – turn off your laptop, put away your phone, stop checking your email. Get creative Creativity is a powerful antidote to burn out. Try something new, resume a favourite hobby – choose activities that are completely unrelated to work. www.priorygroup.com 53

From London to Manhattan A new popular concept in property ownership

ith house prices having skyrocketed in the capital, you’d be forgiven for thinking that owning multiple houses in London’s most exclusive postcodes is the preserve of the super-rich. With a two bedroom flat in Chelsea now setting you back an average of £1.65 million*, for many it would appear that the window of opportunity to invest in London’s most sought after locale has well and truly expired. Yet shared ownership specialist Rocksure offers a solution for those who are eager to invest in London’s prime real estate, with a carefully planned property fund that ensures even the most coveted corners of the capital are within reach. For a one off sum of as little as £122,500 (plus modest annual dues) investors in its newly launched London Fund can have a share in the co-ownership of four striking apartments in London’s swankiest boroughs. It’s no secret that property markets around the globe continue to offer strong investment possibilities for those who know where to look. With a planned exit strategy in 10 years’ time, The London Fund offers the opportunity to benefit from future potential capital appreciation in one of the world’s most successful cities, at a fraction of the cost it would be to acquire even a single property there. The Rocksure purchasing model not only offers a diversified investment and risk-averse exit strategy, but also the opportunity for unparalleled luxury living. Fund shareholders are able to use the two bedroom, two bathroom properties, expected to be located in Kensington, Chelsea, Westminster and Covent Garden, an average of 18 nights a year dependent on their level of investment.

Envisage enjoying an evening at the theatre in Covent Garden, or a spot of shopping in Knightsbridge. Perhaps you’re in London on business and weary from a day of meetings. Either way, at the end of the day you can take refuge in a sumptuous apartment, complete with all the trappings of home- an essential for the discerning traveller. Every property is of a superior calibre and with a maid service and full concierge on request owners can be assured every indulgence will be catered for. An investment in the London Fund is more than an opportunity for capital appreciationit’s a chance to live an opulent London lifestyle at your leisure. 2014 was quite a year for Rocksure not only hailing the launch of its London Fund but also the opening of its US offices in Manhattan and the inauguration of the Manhattan Fund, almost identical to its sister London Fund. Ideal for those who split their time between London and New York, the Manhattan fund will offer a selection of spacious and comfortable apartments in Midtown, The Upper East Side, Tribeca and Lower Manhattan. With full shareholder units priced at $350,000 and half units from $175,000, these luxurious apartments are the perfect place to recover from all those red-eyes. For those who are merely interested in gaining a stake in these cities’ property markets as an investment opportunity, but would prefer to holiday elsewhere, there is the option to use allocated nights towards stays at any of the other properties across the entire Rocksure portfolio. Spend winters skiing in Breckenridge, top up your tan with a Caribbean spring break, summer www.hamblegroup.com

Rocksure’s Paris apartment in the Capital Fund

in Paris and escape to Marrakech as the chilly autumn nights draw in. For those preferring to purchase property in overseas markets, Rocksure’s Crystal, Capital and Liberty Funds are open for investment. The Crystal fund focuses on magnificent villas in some of the world’s most desirable destinations- ranging from European geta-ways to far-flung exotic retreats in an effort to provide a “house for all seasons”. Whilst the Capital and Liberty funds boast a selection of elegant apartments across both Europe’s most romantic locations and America’s most celebrated cities. Established by founder of luxury tour operator Supertravel and former COO of Abercrombie & Kent David Rogers, Rocksure is well placed to deliver the level of expertise and luxury its investors expect and require. With over eight years experience behind it, and having raised over $35 million to date, Rocksure has proved a popular concept in property ownership. Indeed, with the recent closing of its very first Alpha fund and over 50% of these initial investors expressing their intent to re-invest, the company has proven its investment vehicle to be a popular one. Shares can be bought by individuals, as corporate investments or in the name of purchasers’ offspring over 18. 2015 is set to be another exciting year for Rocksure and is expected to mark the purchase of the London Fund’s very first properties. Investors can look forward to enjoying a unique and inspiring property ownership model that combines flexibility and practicality, with a sound investment to deliver a luxury lifestyle often coveted, but rarely achieved. Words by Beth Hawkins www.rocksure.com www.hamblegroup.com

Rocksure’s Prague apartment in the Capital Fund

Need to know London Fund Facts: Full Unit:

£245,000 (discount of £10,000 for Founder Units)

¾ units:

£183,750

½ units:

£122,500

Usage:

An average of 18 nights per full unit. Pro-rata for ½ and ¾ units

Fund life:

10 years

Annual dues:

Approximately £7,500 per full unit. Pro-rata for ½ and ¾ units

*The Evening Standard, Homes & Property http://www. homesandproperty.co.uk/area-guides/greater-london/spotlightchelsea-property-area-guide

| INTERVIEW

Michael Wignall at The Latymer

ichael Wignall’s natural flair in the kitchen, expertise and passion for food has led to his latest restaurant, Michael Wignall at The Latymer within the Pennyhill Park Hotel, scooping four AA Rosettes, and its first Michelin Star. This was soon followed in 2011 with five AA Rosettes, one of only eight restaurants in the UK to receive such an accolade. Michael, who was awarded his first Michelin star 14 years ago, describes his cooking as ‘complex and carefully crafted’.

What is it that you like about working with food? I have a massive passion for food and for cooking – I really see it as a lifestyle choice, not just a job and hope this comes through in the dishes that I serve. Whilst I acknowledge that my style is technical and the presentation elaborate, I believe the food itself is not intimidating, having its roots in familiar classical themes. The textures, flavours and ingredients complement each other rather than jostling for position on the tongue.

How did you get into being a chef? I lived in Spain for the best part of a year and had a great time working in a small 56

restaurant out there living life to the full. I came back to the UK and was fortunate to land a job working for legendary northern chef Paul Heathcote at Broughton Park in Preston and then at Paul’s restaurant in Longridge. That kick-started a run of jobs that has taken in L’ortolan with John Burton Race, The Cliveden, Michael’s Nook, The Devonshire Arms and now The Latymer.

How did it feel to win your second Michelin star?

We have several dishes that never come off the menu including the cassoulet of clams and suckling pig, but the menu and dishes are forever evolving. We seldom rest on our laurels when it comes to dishes.

It was one of the most surreal things for me. I never really set my sights on two stars, so when it happened I was completely dumbstruck! I was stuck in traffic at the time when the guide was leaked a week early. A well-known food writer tweeted “Did Michael Wignall at the Latymer have 2 stars last year?” and my stomach starting to turn, then I got someone to check on the Michelin website and there it was. I then spent the rest of the year worrying about retaining it for no reason at all. I am constantly looking to produce the best food.

Where do you get your ideas and inspiration from?

You ‘relax’ by practicing extreme sports. Tell us a bit about this?

Everything around me feeds my imagination and inspires me. Architecture, art, the obvious...food, travel, reading and I think most importantly trying other people’s food. My team really inspires me. I like to get my whole team, from commis upwards, involved in creating new dishes, experimenting, and tasting etc. At the moment, the Japanese culture is a real fascination for me. I love their style of cooking. The respect they have for food and culture is a lesson for all of us.

In winter I snowboard and the rest of the year I wakeboard, surf and ride bikes. I had a Lotus 240 cup that I raced on various circuits up and down the country but the cost and finding time was difficult. I had a major setback last year and broke my leg and knee wake boarding so all sport has been a no go for six months and only just been given the go ahead to start again from my surgeon.

What are some of your signature dishes?

Words by Lucy Freeman www.hamblegroup.com

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| EntrEprEnEurS

facts

about Entrepreneurs that may surprise you! Age doesn’t matter:

Keep trying:

The average age of company founders when they started their current companies is 40. In fact, people between 55 and 64 have the highest rate of entrepreneurship in America. That means it’s never too late to follow your dreams and start a business.

The majority of entrepreneurs are serial entrepreneurs owning, on average 2-3 businesses. So keep trying. The only time you truly fail is when you give up and refuse to try again.

Education Matters: Turns out, 95.1 percent of respondents had earned bachelor’s degrees, and 47 percent had advanced degrees.

You can have a relationship: Just over 69 percent of respondents indicated they were married when they launched their first business. You may find your significant other is your biggest fan and your main source of emotional support.

You can have kids: 59.7 percent of people indicated they had at least one child when they launched their first business, and 43.5 percent had two or more children. At least where kids are concerned, they are always ready to give you a hug when you need it most.

Passion is Important ... And So is Building Wealth: 74.8 percent of respondents indicated that ‘the desire to build wealth’ was an important motivation in becoming an entrepreneur. So feel free to change the world–and in the process change your financial picture as well. There’s nothing wrong with trying to do both. 58

Most Entrepreneurs are Born Entrepreneurs: Only 4 out of 5 of entrepreneurs said the inability to find traditional employment was an important factor in starting a business. Entrepreneurship isn’t the last option for most people– it’s the first.

Working For Someone Else Builds a Solid Foundation: The majority of entrepreneurs have worked as employees at other companies for more than six years before launching their own companies. What they learned was invaluable – both in terms of what to do and what not to do.

Parents Still Dream of Big Things for Their Children: Entrepreneurs are usually better educated than their parents. Play it forward by working hard to set your children up for even greater success than you achieve.

But That Doesn’t Mean Entrepreneurs Follow Their Parent’s Paths: Entrepreneurship doesn’t always run in the family. 51.9 percent of entrepreneurs were the first in their families to launch a business. www.hamblegroup.com

EVANTRA BY MAZZANTI

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