Barrister Lifestyle Supplement 2012 by Alan Pritchard

the barrister

LifeStyle

Supplement 2012

Bespoke by Nature At Williams de Broë there is no “one size fits all” approach. We work closely with you and your trusted advisers to create a highly individual investment strategy tailored to your precise needs. Williams de Broë provides investment management services for individuals, trusts, charities and companies. Personal investments for the life ahead.

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Driven to exceed all other. The New Bentley Continental V8.

By Oliver Compton

Junior ISA – the answer to rising tuition fees? By Danny Cox

The Art of Domestic Science

By Timothy Crosby

Alpine Lux

By Emma Pawson

Are You Gambling with Your Retirement? By Matthew Aitchison

Paradise Found

By Sarah Collins

4 8

How The Pig Is Bringing Home the Bacon

Fine wine is a great way to add diversity to your investment portfolio.

Join Select Collection in discovering Burma on ‘The Road to Mandalay’

How’s your Balance?

Grace around the world

Pendley’s people, plays and peacocks

By Johnny Silkin

By Benjamin Cazaly

By Rebecca Martin

22 By David Alexander

29 By Amy James

36 By Bob Little

Driven to exceed all other. The New

Bentley Continental V8.

By Oliver Compton

the barrister | Lifestyle supplement

Introduction. Two stunning new Bentley Continental V8 models were unveiled at the North American International Auto Show in Detroit, marking an innovative approach from the prestige marque. The cars were introduced by Wolfgang DĂźrheimer, Chairman and Chief Executive, Bentley Motors, who said: â&#x20AC;&#x153;With the new 4.0 litre V8 engine we are widening the appeal of the latest generation of Continentals, introducing a completely new driving experience.

the barrister | Lifestyle supplement

“The new engine will have all the exhilarating power, drama and performance you would expect from a V8 engine sporting the famous Bentley wings, effortlessly delivered with our characteristic ‘wave of torque’. “This is complemented by innovative powertrain technology that delivers exceptional fuel efficiency and emissions.” The 4.0 litre, twin turbocharged V8 Continental GT coupé and GTC convertible offer sensational performance, outstanding efficiency and a rasping engine soundtrack to thrill any driver. The Continental V8 boasts an engine for efficiency it can travel over 500 miles on a single tank. At the same time, it can go from 0-60mph in just 4.7 seconds. And, being a Bentley, all this is delivered in a car with the luxury, quality and craftsmanship that devotees of the esteemed cars have come to expect. The remarkable new V8 engine achieves exceptional standards for power-to-emissions in the high luxury sports car sector – and fulfils Bentley’s environmental commitment to produce a new powertrain that delivers a 40 per cent improvement in fuel efficiency and CO2 emissions. The new V8 engine features variable displacement, where four of the eight cylinders are effectively switched off at gentle throttle openings, ensuring optimum fuel efficiency. As soon as the driver presses the throttle harder, the engine instantly switches back to full eight-cylinder operation.

the barrister | Lifestyle supplement

The instantly recognisable growl of the new 4.0 litre V8 engine sets it apart from its Bentley stablemates, the specialists at its Crewe factory spending hours in sound simulators, perfecting the burbling throaty tone that would signal the arrival of this extraordinary new car. And for the owner of a Continental GTC V8, one of the incidental pleasure of hood-down motoring is the chance to enjoy the V8’s mechanical symphony . . . in full surround sound. One man who thoroughly appreciated the distinctive V8 tone was Le Mans 24 Hour race winner Guy Smith, who put the dynamic Continental GT through its paces at Silverstone. “The power and the steering are really responsive. I could flick the car from left to right and put it exactly where I wanted it,” said the 37-year-old Yorkshire driving ace. “And the sound of the car is fantastic. Bentley have also done a great job developing just the right engine note and remarkable work creating an engine for this car that has cut fuel consumption and emissions so drastically – and they have done it in style.” Guy said he was particularly impressed by the basic handling of the car. “The slightly stiffer suspension and the more direct, more positive power steering were really noticeable. “And they have done a fabulous job on the gearbox. It’s smooth, effortless shifting and, just like a race car, it won’t let you change down until the car is at exactly the right speed.

“In fact as far as the gearbox is concerned it’s the closest I have ever seen to a race car on a car designed for the road.” The new V8 engine will be available in two models; the Continental GT and the Continental GTC. Expressing their potent, muscular character, these models are distinguished by a black gloss matrix grille with chrome frame, a red enamel Bentley ‘B’ badge, and a three-segment lower front bumper divided by distinctive body-coloured strakes. At the rear, unique chromed ‘figure eight’ exhaust tailpipes, a dark lower valance and red enamel ‘B’ bootlid badge emphasise the sporty, contemporary identity of the new V8s. Inside the cabin, new contemporary Dark Fiddleback Eucalyptus veneers, optional two-tone leather colour split and short centre console continue the fresh, sporting design theme. The two new Continental models will be offered beneath the flagship 6.0 litre,12-cylinder engined Continental GT and GTC, which continue to excite customers with a combination of silken refinement and the ultimate power of the twin-turbocharged W12 Continental engine that, in its most potent form, delivers an astonishing 631bhp (640PS). Both new models feature a state-of-the-art, all-wheel drive system employing an advanced Torsen differential and a 40:60 rear biased power split. This ensures safe yet dynamic sports car handling in all road conditions. Since the launch of the original GT in 2003, the W12-engined Continental range has gone from strength to strength with over 50,000 sales worldwide, making Bentley’s factory in Crewe, England, the largest producer of 12 cylinder engines in the world. The W12 story continues to unfold and remains the ultimate expression of Bentley’s engineering strength.

www.bentleymotors.com

the barrister | Lifestyle supplement

How The Pig Is Bringing Home the Bacon By Johnny Silkin

If you go down to the woods today, you’re sure of a big surprise. For in the midst of the New Forest, about a mile from Brockenhurst, is an amazing rural retreat.

A modern take on the country hotel, The Pig is the latest project from famed hotelier Robin Hutson. Having reinvented the town hotel with his Hotel du Vin brand, Hutson turned his attention to the shires. First came Lime Wood, The Pig’s ultra posh big sister located a few miles down the road, and now there is The Pig itself. After a particularly arduous week toiling away in the capital, a short bucolic break was definitely welcome. As we neared our destination, the gleaming bronze sign outside the grounds hinted at a pub with rooms. But at the top of the long drive lay another story altogether in the shape of a large and elegant former Victorian hunting lodge. Step through the front door and the first thing that strikes you about The Pig is its relaxed yet carefully cultivated décor. This is where shabby chic meets laidback quirkiness. Forget the chintz, here it’s all about muted colours, bare wood floors, kiln rugs, squashy sofas, roaring fires, ticking clocks and piles of books. As it was getting late, we decided to have supper straight away. We dined in The Pig’s large greenhouse-style restaurant, with its vineclad pillars and beautiful mosaic floor. The mismatched tables and chairs served to further eschew the non uniform hotel look. At around £30 a head, the ‘25 Mile Menu’ (80% of fresh ingredients used are sourced from the local area) definitely won’t break anyone’s piggy bank. Proceedings start with ‘Piggy Bits’ (saddleback scratching & apple sauce) before moving on through ‘Starters & Small Plates’ (I would highly recommend the dressed Portland crab) and ‘Forest and Solent’ (including the likes of breaded escalope of Romsey Farm pork and pan roasted skate wing& wild sorrel). The puddings are equally inventive, with the gin and tonic jelly going down particularly well! Head Chef James Golding’s creations are accompanied by a decent wine list, which though mainly French, includes Ridgeview English fizz at £8 per glass. The bedrooms meanwhile come in three varieties - Snug, Comfy and Spacious. We opted for comfy and all I can say as I drifted off to sleep in my fabulous bed with its crisp white Egyptian cotton bedding, was that it certainly lived up to its name. Other welcome touches were the walk-in shower (the top-end rooms have roll-top baths) and the larder stocked with tempting treats like local chocolates, fizzing candy and salted nuts.

the barrister | Lifestyle supplement

There are also 11 rooms in the old stables and yards, all boasting timber framing, original features, stable partitions and troughs. Individually named, these range from The Piggery, a hideaway suite on two levels offering fantastic views over the surrounding countryside, to The Pig Sty, comprising a double bedroom, lounge and bunk room. The next morning after a feast of freshly baked breads, home-made granola and seriously fresh eggs from The Pig’s very own chickens, we decided a walk was most definitely in order. Our stroll took us to the amazing walled garden, something that is both the focal point of and the inspiration for The Pig’s overarching concept: “restaurant with rooms”. As luck would have it, The Pig’s head gardener, Mike Kleyn , was on hand to give us the royal tour. Mike, who was previously Head Gardener at Babington House and has a PHD in pharmacology, started work on the garden in 2010. Today the area boasts not only varieties such as strawberries, blueberries, runner beans, beetroot, leeks, broccoli, carrots and a myriad of different types of lettuce and peas, but more exotic specimens including bronze fennel, rainbow chard, mispoona, sea kale and mizuna. It is those ingredients deemed by Mike to be in perfect condition – or unearthed by Garry Eveleigh, The Pig’s resident forager and another key member of the team – that determine James Golding’s menus. the barrister | Lifestyle supplement

What doesn’t grow in the garden, can be found in the forest. Head off with Garry and you’ll come back armed with wild garlic, chickweed, cherries and rock samphire. As we continued our stroll around the extensive grounds, there were surprises at every turn. For here outdoor spaces have been designed like open air rooms with hammocks in the trees, benches with log tables and a courtyard for al fresco drinks and dining on warm summer evenings. On we travelled, past the wild flower meadow orchard and the pig house and paddock with its very active pigs and finally to the lilystrewn garden pond, home to The Pig’s ‘Potting Shed’. An original garden shed, it has been transformed into a single treatment room with charming features such as the rake-turned-curtain rail. Here guests can enjoy massage treatments courtesy of Lime Wood’s experienced therapists. So, if you want a hotel in which you feel at home the minute you step over the threshold, that serves fabulously fresh food and promises relaxed but polite service, then this is one Pig that really does bring home the bacon. Room rates at The Pig start from £125 per night. A three course dinner, excluding wine, will cost around £35. The Pig, Beaulieu Road, Brockenhurst, Hampshire, SO42 7QL.

www.thepighotel.co.uk

the barrister | Lifestyle supplement

Junior ISA – the answer to rising tuition fees? By Danny Cox

A child born in 2011 will pay around £100,000 for a threeyear university education by age 21. Little wonder that the new Junior ISA is being described as the new way to create a USstyle “college fund”. Danny Cox, Head of Advice at Hargreaves Lansdown takes a look at the new Junior ISA. The Junior ISA is a welcome development for savers and investors – arguably the most welcome since PEPs became available in 1987 a whole generation ago. The straitened times in which we find ourselves will have a direct impact on their future – one only need look at the new regime of university fees. Many will have accumulated a significant debt burden of their own before they even commence work. Junior ISAs launched in November 2011 and are the new taxefficient savings scheme for children, replacing the Child Trust Fund (CTF). In practice they are extremely similar to ‘adult’ ISAs. Like ISAs there are two types available – Cash Junior ISAs and Stocks & Shares Junior ISAs. Once a parent or guardian opens a Junior ISA for their child anyone, friend or family, is able to make a contribution up to the annual limit. Decisions on where and when to invest ISA contributions are made by the parent or guardian who is the registered contact for the account, but the account is held in the child’s name. The money is ring-fenced for the child until they are 18 – no withdrawals are permitted before then except in the event of terminal illness or death. Cash Junior ISAs benefit from tax-free interest. Stocks & Shares Junior ISAs pay no income tax on interest on cash,

Junior ISA main features at a glance: • • • • • •

Allowance of £3,600 per child per tax year, rising in line with inflation from 2013 Available to those without a CTF Account held in child’s name, but opened and man aged by a parent or guardian Once opened, anyone can contribute to a child’s Junior ISA No withdrawals permitted until age 18, when the account becomes an ‘adult’ ISA, and the child has full access to their capital Same tax benefits as an adult ISA – no tax to pay on any gains and no further tax on any income, no tax implications for parental giftts

corporate bonds and gilts, no further tax on dividend income and no capital gains tax. There could be inheritance tax implications though - see box below. Tax rules can change over time and the benefits to a child will depend on their individual circumstances. When the child reaches 18 their account is automatically converted into an ‘adult’ ISA and they are entitled to full access to their investments and savings. Parents may have the option to allow their child to manage the Junior ISA from the age of 16 however the child cannot withdraw any capital until age 18. The annual allowance of £3,600 per tax year (which will rise with Consumer Prices Index inflation from 2013) can be split in any proportion between the two. For example, £1,000 could be invested in a Cash Junior ISA and £2,600 in a Stocks & Shares Junior ISA. Importantly, each child can only hold one Junior ISA of each type at any one time; however, accounts can be transferred between providers. It is also possible to transfer a Cash Junior ISA into a Stocks & Shares Junior ISA and (unlike adult ISAs) vice versa.

the barrister | Lifestyle supplement

The type of account you choose for your child or grandchild will depend on your attitude to risk, and the timeframe over which you are investing. Cash Junior ISAs are a good choice for those who only have a short time before they will need to use the capital. This is because, unlike stock market investments, cash is guaranteed not to fall in value. Cash Junior ISAs operate just like a normal savings account except the interest is tax-free. Interest rates will vary, so shop around for the best deal using the best-buy tables which you can find in the press or online. Do watch out for headline grabbing introductory rates or temporary bonuses though, as when these disappear you can be left with an unattractive rate. The long-term returns from cash tend to be lower than those from the other asset classes, which mean they are disproportionately affected by inflation. Therefore if you are investing for the long term, and you are comfortable with the fact that the value of your investment will fluctuate, you should consider stock market investments, which have the potential to deliver significantly higher returns. A good Stocks & Shares Junior ISA will offer access to a wide range of investments, from gilts and corporate bonds to shares. Many investors like to choose and purchase individual bonds and shares, and investors can buy and hold bonds and shares of individual companies within a Junior ISA. However, purchasing individual bonds and shares is intrinsically higher risk, as the value of an investment is linked to the fortunes of one or a limited number of companies. If the company goes bust, shareholders can lose their whole investment. For this reason, many ordinary investors choose to invest in bonds and shares through funds, which spread the risk across a number of companies. Funds are popular because they offer ordinary investors access to professional fund management, and the benefits of diversification on lump sums of as little as £500, or regular savings of £50 per month. A Junior ISA could be used for a number of different purposes. It could mean your children or grandchildren leave university without being saddled with debt. It could be a deposit on their first house. Invested wisely, it could perhaps be both. Save £100 per month from birth and the child might receive a lump sum of around £38,000 at age 18. At the maximum of £300 per month there might be a lump sum of £114,000 sufficient to meet the full cost of a university education (assuming a 6% annual growth after charges).

the barrister | Lifestyle supplement

Naturally some have expressed concerns of a child receiving such a windfall at age 18. One alternative is to set up a trust, though this requires higher levels of funding and greater time to cover the additional costs and responsibilities. My own experience of my children receiving money at age 18 is that they treated it respectfully and sensibly. Generally those who have accumulated some capital like the feeling of security and wish to accumulate more. Education and expectation also has a role here. I anticipate and hope, many children will leave some or all of their Junior ISA invested when they turn 18, continuing the saving and investing habit well into adulthood. Child Trust Funds Children with a CTF are not eligible for a Junior ISA. These are most children born on or between 1 September 2002 and 2 January 2011 – this means over 6 million children have been excluded from the new Junior ISA by virtue of their birth date. Unfortunately the CTF rules are unwieldy and were not widely adopted by providers - there are just 14 Stocks & Shares CTF providers, and the likes of Fidelity, Barclays, and HSBC to name but a few are noticeable by their absence. In contrast, there are already more providers of Stocks & Shares Junior ISAs, including many of the big names offering a wide choice of investments. Now Junior ISAs have launched, I simply do not believe that CTFs, under the current rules, are a long-term solution. The result is a two-tiered system, and the gap between those tiers is likely to become ever wider as more firms enter the Junior ISA market, making it ever more competitive. I believe the best way to avoid a two-tiered system is to allow parents to choose by changing the rules to permit transfers from CTFs to Junior ISAs. This will allow children with CTFs a greater product choice and a wider investment choice. It also provides a more equitable solution for parents with children who currently qualify for different schemes. Contributions to their existing CTF can be increased to £3,600 per annumt.

• • • • •

GREAT TAX INCENTIVES MANAGED WINE PORTFOLIOS LOW RISK INVESTMENT SPECIALISTS IN BORDEAUX CLARET OVER 50 YEARS EXPERIENCE

Fine wine is a great way to add diversity to your investment portfolio. Wine is proving to be a stellar investment, far outperforming its rival assets over the past year. By Benjamin Cazaly

Investors are turning to drink. No, not to calm their nerves - although they could be forgiven for doing so in this period of unprecedented volatility. The turbulence has prompted them to seek out new opportunities and they are cashing in their stock market chips to acquire alternative investments, such as fine wine. Investors are very passionate about wine, much more so than about stocks and shares. It is a very safe investment and it is very attractive at this time when people are uncertain about the stock and property markets. Right now Asia is really driving the demand. The traditional markets of Europe and America are slightly slower. Hong Kong has capitalised on the rapid expansion of personal wealth in China, to become the dynamic centre of Asia’s wine trade since it abolished duties on wine imports in 2008. Wine imports are poised to set a new record after surging nearly 60 percent year-on-year in the first nine months of 2011 to US$940 million. A Chinese buyer has bought a single bottle of wine for £135,000 in an auction. The six-litre bottle of 1961 Latour went for more than three times the expected price - further evidence of the Asian market’s thirst for vintage wine. The auction of Chateau Latour, a prestigious ‘first growth’ classification wine from Bordeaux, had been highly anticipated and was seen as a key test of whether record demand from Asia would continue. First growth wines derive from a small number of renowned vineyards in Bordeaux. In some areas of the UK, you could buy a house for the price the Latour fetched. It would take the average UK worker almost seven years to buy a bottle.

the barrister | Lifestyle supplement

Despite the economic slowdown, the fine wine market has continued to boom in London. Take Chateau Mouton Rothschild 1945. Now much fancied for its sweet, smoky bouquet, glorious meaty essence and flavour of prunes, it would have been much less fascinating when it appeared 67 years ago, and the price a fraction of the £108,000 you would have to pay for a single case today. The key to success in wine investing is to buy from the right year. To take the above example, 1945 was a classic vintage. The quality of the grapes grown in the Chateau’s vineyards in the previous year was still good, but not quite as good as those grown in 1945. So, a case of the Chateau Mouton Rothschild 1944 runs to a more affordable £16,800. Every single vintage is a one off; we cannot turn back the clock to re-create the weather that produced that grape. Even newer wines have increased in value over the past couple of decades. Where, 10 years ago, a case of Chateau Lafite 1982, with its cedar wood bouquet and gentle hint of mint, was worth close to £3,750, it would now sell for as much as £50,000. Had you bought it when it first hit the market, in the spring of 1983, you would have paid about £240 a case. Chateaux Lafite is a red ‘first growth’ from Bordeaux. Most wines at the top of a collector’s list still come from France and the great majority of them are clarets. An ever increasing number of people, perhaps frustrated at the modest or negligible returns available from traditional investments, are turning to alternatives to boost their incomes. Over the last three to four years, no asset class investment has performed better than Fine Wine. The reason behind the rapid growth of the prices of Fine Wine is very simple; since China opened her borders to international trade, a new wave of wealthy young Chinese have developed a taste for luxury; Louis Vuitton, Rolls Royce, Omega – all count China as their number one growth market, and Fine Wines are going in the same direction.

So how does this affect the likes of you and me? The answer is predicated by the fact that Fine Wine has a finite supply. Lafite-Rothschild is currently the favourite wine of China and, consequently, the one that has seen the most dramatic price rises over the last few years. Some vintages are now worth five times what they were only three years ago, but Lafite-Rothschild only produces around 20,000 cases a year; a tiny amount when measured against demand. As demand increases and supply cannot rise to meet it, simple laws of economics dictate that the only thing that can move is the price – and it has certainly moved. There isn’t a single bottled vintage of Lafite-Rothschild from 1996 to 2005 that has not increased in price by 500% over the last five years, and this trend looks set to continue. Although the UK’s consumption and knowledge of wine is increasing, many people are not aware that investing in the very best Fine Wines is so profitable or accessible. Many investors who had never considered adding wine into their investment portfolio have, in recent years, come to appreciate the impressive returns that can be gained from a carefully constructed portfolio. The wines contained within our customers’ portfolios appreciated on average by some 52.3% in 2010. In today’s market, a private investor with little or no wine knowledge can safely build a portfolio of Fine Wine through a specialist wine broker who will then store the wine on their behalf in a government bonded warehouse. What a good investment that could turn out to be; a recent report has estimated that growth in demand for luxury brands in China will increase by an average of 18% per annum until at least 2018 and, as the number of millionaires in China increases (there may be as many as 30 new millionaires created every week!), there is sure to be even more demand for the great Bordeaux wines.

the barrister | Lifestyle supplement

The Art of Domestic Science By Timothy Crosby

In 1996 Heston Blumenthal launched the Fat Duck and introduced us all to the molecular delights of snail porridge, bacon and egg ice cream and salmon poached with liquorice. Since then, such dishes have been viewed as the exclusive right of this and other multi Michelin star restaurants. Now, thanks to the pioneering efforts of Bubble Food, London’s leading food design and events company, wedding receptions, private dinner parties and movie premieres have now gone molecular! “Molecular gastronomy combines culinary processes with scientific methods and technical equipment to transform the physical and chemical elements of ingredients beyond their original state,” explains Michael Collins, MD of Bubble Food. “Liquids become caviar-like beads bursting with flavour, foodstuffs are transformed into foam-like substances and sauces change colour on the plate.” Bubble Food has been laying on silver service banquets and posh finger food since 1999, working with the likes of BAFTA, Disney, Hugo Boss, Lamborghini and Veuve Clicquot along the way. Always keen to push the envelope and stay one step ahead of the competition, the team decided to look at how molecular processes could be harnessed to totally transform conventional event catering, reinvigorating it with refreshed passion and interest. As luck would have it, Alejandro Diaz had joined the team some four years previously. A chef with a passion for groundbreaking and trend-setting molecular gastronomy, he would become the driving force behind the initiative. The company’s kitchens were refurbished with the latest scientific equipment and, under the guidance of Diaz, its chefs were given free rein to deconstruct conventional menus and, through molecular metamorphosis, reintroduce them as fascinating and unprecedented culinary experiences. The result is that over the last year Bubble Food’s clients have been on the receiving end of such exciting gastronomic and sensory experiences as Tamarind Glazed Duck Breast with Pak Choi & Mandarin Olive Oil Sorbet, Mango Discs with Goats’ Cheese, Red Onion & Micro Rocket and Cuban Cigar Panacotta. Michael reveals that it is not only his clients who have embraced molecular cuisine. “The techniques we use give our chefs a chance to interact with the guests rather than being confined to the kitchen. They love to see the effect their creations have on people.”

the barrister | Lifestyle supplement

Bubble Food is now the only company in the UK able to offer an entire molecular range, from canapés and bowl food through to a more formal fine dining experience such as the dinner for the Freud Museum the company devised last autumn. Here an ‘A’ list audience including John Malkovich, Helena Bonham Carter and Jemima Khan tucked into Slow-Cooked Beef Fillet with Cep Pearls & Root Vegetable Granola, finished off with A Trio of Caramel Popcorn, Chocolate Cherry Truffle Explosion and Pina Colada Spoons with Coconut Ravioli. Naturally such creative fare can’t be washed down with a glass of any old plonk. Cue Bubble Food’s equally avant-garde cocktail list, which uses gels, powders, foams, atomised sprays and liquid nitrogen to generate both unparalleled varieties of flavour and extraordinary visual displays. Unsurprisingly, there’s not a conventional Caipirinha or mediocre Mojito in sight. In their place are Piña Colada with Pineapple Rum Foam and Coconut Ravioli and the Casino Royal, a glowing party favourite that dramatically emits volcanic steam. Seasonal events meanwhile offer the team the chance to really get their creative juices flowing. Christmas for example saw the introduction of the Mince Pie Soda, served with dry ice to give the appearance of it being steaming hot. A couple of months later, Bubble Food was offering love birds the ultimate Valentine’s Day feast - Rosewater, Strawberry and Rhubarb Soup with Aphrodisiac Meringues included - prepared and served in their own home. The ultimate food theatre, molecular cuisine is also the perfect ice breaker. “Strangers strike up conversations as they try to guess what they’re about to taste,” says Collins. “You’ll hear gasps of surprise as the glass is lifted off a prawn cocktail that brings a whole new meaning to the term smoked fish. Not to mention the reaction we get from guests who tuck into our nitro poached green tea mousse only to find clouds of misty smoke coming out of their nose.” Domestic science has never been so enjoyable.

Bubble Food | 115 Clapham Manor Street | London | SW4 6DR Telephone: 020 7703 2653

www.bubblefood.com

the barrister | Lifestyle supplement

Join Select Collection in discovering Burma on ‘The Road to Mandalay’ By Rebecca Martin

Burma is a mysterious and magical land of rubies, golden pagodas and a timeless river. After remaining hidden for decades this ancient country, also known as Myanmar, is opening up to visitors and can easily be explored by air, road and waterway. Part of the allure of SouthEast Asia’s largest mainland country is that it has retained its cultural traditions and preserved its historical heritage. A visit to Burma is a journey to an Asia from a bygone age which is sure to capture your adventurous spirit

the barrister | Lifestyle supplement

Select Collection, an exclusive luxury tour operator specialising in bespoke travel to worldwide destinations, offers a comprehensive debut journey – ‘Road to Mandalay’ – the ultimate way for the discerning traveller to explore this exciting destination. The 10 night trip is a combination of cruise and hotel, by river on The Orient Express River Cruise and a relaxing stay at their Orient Express hotel, Governor’s Residence. Founded in 1992 by Leija Graf, one of Scandinavia’s most celebrated entrepreneurs, Select Collection creates exquisite holidays for its distinguished clientele, 85% of which are repeat clients. Based on the philosophy that a highly personalised service alongside meticulous delivery should never be compromised, Select Collection has built a reputation as the ‘haute couture’ of travel companies. After promptly establishing themselves as the leading luxury tour operator in Sweden, Select Collection expanded from its Stockholm flagship office to open offices in Helsinki in 2000, Oslo and Copenhagen in 2001 and London in 2008. With interiors designed by Magnus Larsson, the simplistic yet stylishly decorated Mayfair boutique features lacquered white flooring and walls and large floor to ceiling windows allowing natural light to flood the space, acting as a blank canvas for guests to create their perfect holiday. Every Select Collection booking is individually tailored to meet the client’s personal requirements. Leija remains extremely dedicated and involved in the day to day running of her company, and with compiling their annual travel brochure which only features properties that have been hand-picked by Leija and her knowledgeable staff. Her priorities of security, value for money, expertise and personal service are mirrored across the brand.

the barrister | Lifestyle supplement

Organising trips for families, honeymooners, eco travelers, spa goers or those seeking a bit of sport, from golf to diving to skiing, Select Collection operates with the mantra that ‘nothing is too much trouble’. Their years of experience in the industry mean they are prompt at picking up new trends and opportunities in the travel sphere. In addition to traditionally popular destinations they are expert in coordinating complex itineraries to untapped areas such as Costa Rica, Sri Lanka, China, Japan, Jordan and 2012’s must-visit Burma. Select Collection’s tailor made luxury holiday to Burma is your chance to explore this undiscovered landscape from the golden stupas of Yangon (Rangoon) crowned by the magnificent Shewedagon Pagoda, and down the grand Irrawady (Ayeyarwady) River to the ruins of the 11th century capital Pagan. All the while you will reside in luxury and style in individually approved accommodation. The Road to Mandalay is a graceful river cruiser where the emphasis rests on traditional comfort combined with luxury – facilities including a pool, two bars, library, restaurant, lounge, boutique, beauty spa salon, and fitness room, reflect this. The newly refurbished, spacious en-suite cabins are furnished with beautiful fabrics, and the finest linens. On land as well as on water Select Collection’s choice of accommodation is equally as luxurious. Once the home of the ruler of Burma’s southern states, the Governor’s Residence in the seaport of Yangon is a colonial-style mansion dating from the 1920s and resides in the elegant Embassy Quarter. Rooms decorated with tropical cottons and silks, fan-cooled verandas and teak armchairs conjure up a bygone era while offering every modern pleasure. After a guided tour of the glittering gold, diamond and ruby encrusted pagodas, Bogyoke Market and National Museum

dinner is served alfresco in the balmy evening air by lantern-light, followed by cocktails in the Kipling Bar. The adventure commences with a night in Yangon at the Governor’s Residence, located 30 minutes by car from Yangon International Airport, before a flight to Mandalay. The city conjures up the heady atmosphere of an Oriental market, a spectacular bazaar displaying the ethnic diversity and cultural heritage derived from Burma’s bordering nations of India, Bangladesh, Tibet, China, Laos and Thailand. A journey on the lifeline of Burma the ‘Road to Mandalay’ cruises regally along the Irrawaddy River passing bamboo rafts and fishing boats, accessing the unique sights, scents and sounds of Burma in Orient-Express style. This beautiful craft voyages between the World Heritage site of Bagan and the romantic Mandalay with its Golden Palace Monastery, revered Buddha statue and goldleaf crafts and wood-carvings. As morning breaks, arrive in the ancient capital of Bagan and take time to explore some of the 2000 monuments on offer, making the site a worthy comparison with Angkor Wat in Cambodia. After the hustle and bustle of Bagan the cruise stops at the small village of Shwe Kyet Yet, with the option of an excursion to Sagaing - considered to be the living centre of the Buddhist faith in Burma. It has been observed that “to be Burmese is to be Buddhist” so taking the time to interact with this aspect enables visitors to engage with the spirituality of the nation. There are over

6000 monks and nuns based in the area, and around 500 moundlike structures containing Buddhist relics called stupas. Ranging from the highly decorative and ornamental to the more basic and functional, whatever the appearance, the creation of a stupa brings about a highly positive karmic imprint emphasising the idea that Bagan is a spiritually favoured site. On offer are short courses introducing Buddhism and the art of meditation for the inquisitive visitor who would like to draw inspiration from the tranquil surroundings and have a moment of peace. Select Collection’s ‘Road to Mandalay’ itinerary concludes with another night at the Governor’s Residence, but those wishing to extend their adventure may do so. Options include an excursion to Inle Lake, a region that exudes tranquility and enables you to sample the hospitality of the Shan people, one of many groups that contribute to the ethnic diversity of this colourful country. Then there is the unmissable Ngapaly beach on the Bay of Bengal reputed as the most beautiful beach in the area. Undoubtedly Select Collection’s itinerary will pre-empt every possible inclusion of premier and first class service throughout the trip meaning you can relax and concentrate on absorbing the natural beauty and astounding cultural heritage surrounding you on your stylish and authentic voyage through Burma. For more information please visit:

www.selectcollection.co.uk

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Alpine Lux By Emma Pawson

In a steep alpine valley, at the heart of Switzerland, something very special is taking place. The once sleepy village of Andermatt, whose rich history dates back to the Victorian era, is being gently transformed into one of the Alps’ most breathtaking destinations. Modestly situated at the feet of the majestic Gemsstock and Nätschen mountains, this traditional Swiss community will have some of the region’s best skiing on its doorstep and thanks to a team of visionary developers, will soon become the envy of the alpine community. This time next year, the first stages of Andermatt Swiss Alps will be realised and the groundbreaking development is now preparing for its official opening with a collection of carefully conceived first-class hotels, architecturally diverse chalets, apartments and covetable amenities including a tranquil alpine spa along with a sport centre and newly expanded ski terrain. Andermatt Swiss Alps promises to be one of Europe’s newest and chicest destinations. The developers are taking care to ensure that the existing village and its intriguing history will be just as prevalent as they are today and will have an important role to play in the future of the destination. Infamously frequented by Queen

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Victoria, Prince Albert and various other high society individuals in the 1920’s and featuring as the spectacular backdrop to James Bond in Goldfinger, some might argue that Andermatt has always been destined for great things. Located at the epicentre of the Swiss Alps, the village is very well connected by three separate Alpine passes; the Oberalp Pass to the east, the St Gotthard Pass (built in 1818) to the south and the Furka Pass to the west, as well as the Valley Göschenertal to the north. It was the St Gotthard Pass which significantly facilitated travel to the village and first established Andermatt as a desirable and well known alpine destination. Less than a century later however, in 1882, the creation of the Gotthard Railway Tunnel counteracted the village’s former good fortune by forcing many visitors to bi-pass the beautiful valley transporting all passing traffic underground. Fate again intervened as World War 11 broke out and the Swiss Army chose Andermatt as their base. Considered an ideal training ground with steep mountainous terrain, the army became so settled that they remained until the early 2000’s. Meaning Andermatt remained a sleepy undeveloped destination catering mainly for the Swiss army and their families, widely forgotten by the rest of the travelling elite. Today it would seem that change is afoot and Andermatt is shaking off its conservative reputation in search of an altogether more glamourous future. Destination development specialists Orascom

Development and their inspirational owner Samih Sawiris are in the process of making a series of ambitious plans a reality as the development begins to take shape. Renowned for creating the unthinkable in unique landscapes whilst remaining true to social and sustainable aspects, Orascom Development has endowed Andermatt Swiss Alps with the credentials to become a landmark Alpine destination. Just 90 minutes’ drive from Zurich and two hours from Milan, Andermatt is extremely accessible and lies just a short drive from the charming city of Lucerne. Already earmarked as one of the Alps’ rising stars, a sense of great anticipation is hovering over the valley as construction takes shape. Promising six hotels, 490 apartments, 25 chalets, 35,000m² of retail space, a sports and leisure centre and brand new international tournament standard 18 hole, 130 hectare golf course with driving range, practice facilities and clubhouse, Andermatt Swiss Alps is certainly shaping up to be a remarkable new lifestyle and real estate destination. Furthermore, plans to increase the existing ski terrain and lift capacity will see Andermatt linked with the neighbouring resort Sedrun to create a single ski area of over 130 kilometres of piste which will cater for all levels of skier from beginner to expert. Cross country skiing, curling and ice skating will also be on offer whilst in the summer, a host of walking trails, biking routes, climbing passes, alpine lakes and white water rapids will be sure to keep families of all ages entertained. International buyers, keen to invest in this luxury destination of

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As specialists in holistic financial planning and portfolio management, we give our clients confidence and peace of mind that they will achieve the retirement they desire.

If you would like to discover how we can add value to you, please contact Matthew on 01234 851797 or maitchison@clearvisionfp.co.uk www.clearvisionfp.co.uk Authorised and regulated by the Financial Services Authority under reference 561927 Registered in England & Wales 07514108

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the future should also be aware that Andermatt Swiss Alps has been granted rare exemption from the Lex Koller law meaning foreign buyers are able to acquire property in the destination without restriction. ‘With Andermatt Swiss Alps this unique opportunity to invest in the proven “Swiss real estate track record” is made possible. To date, due to the Lex Koller law this has been difficult -nearly impossible- to tap into for foreigners. Not only is it a security in uncertain financial times but an extremely attractive long term investment with an extraordinarily promising future.’ They will also be able to sell on property unheeded which is an appealing prospect for savvy investors. There are currently six apartment houses available for purchase in Andermatt Swiss Alps offering a range of modern and traditional designs from CHF 14,800 per square metre as well as serviced apartments and penthouses within the resort’s first hotel; The Chedi Andermatt. Additionally an exclusive selection of 25 tailor-made villas are on offer with price upon application. Towering into the mountain skies, the destination’s inaugural hotel The Chedi Andermatt, embodies everything that is promised for this small community. Sitting on the site of the former Grand Hotel Bellevue, this decadent structure lies within the heart of the destination, marrying the original village with the new community and will restore the hamlet to its former glory when it opens in winter 2013. It will offer guests both boutique hotel accommodation and the chance to own one of a collection of elegantly designed serviced residences. In addition, a wine library, après ski bar, fine dining restaurant, themed food and wine lounges, extensive spa, indoor and outdoor pools, uniquely designed ice rink and personal ski butlers promise a memorable and indulgent experience for both owners and guests alike. Designed by world renowned architects Denniston International Architects and Planners Ltd, The Chedi Andermatt will be managed by leading hotel management company GHM whose portfolio includes The Setai in Miami, The Chedi Muscat in Oman, and The Nam Hai in Hoi An Vietnam among others. As the first Chedi hotel to open in Europe, this will be a hotel and residences development that breaks all boundaries and caters for those seeking very high standards of service, location and luxury. Commenting on the striking design of the hotel and its residences, Jean-Michel Gathy explains that his ‘fundamental inspiration…took the essence of the local architecture and recreated it’ and goes on to describe the design style as ‘contemporary casual chic’. Jean-Michel joins over 30 other architects who will come together from around the world to design the rest of Andermatt Swiss Alps. Adamant that this will not be a ready-made, cookie-cutter destination, Orascom Development has commissioned this portfolio of eminent designers to ensure that each chalet and every other building that is conceived will be unique in its design and aesthetic appearance. In keeping with one of Andermatt Swiss Alp’s primary objectives; to present a socially, ecologically and economically sustainable destination, the village will be car free and all buildings will also be built to the MINERGIE® standard; a registered quality label for new and refurbished low-energy-consumption buildings. The Chedi Andermatt heating will be CO2 neutral whilst electricity for the rest of the resort will be sourced, wherever possible, from natural resources including hydroelectric power, wind and wood‐chips. Andermatt Swiss Alps is also a member of Sustain Worldwide; specialists in ‘green’ building, design and living. Whether you’re attracted by the long term investment potential of buying property in a market destined for substantial growth, or by the thought of holidaying in one of the world’s most coveted destinations, or by the promise of a true year round, environmentally friendly location, one thing is for sure, Andermatt is definitely ‘one to watch’. For more information

www.andermatt-swissalps.ch www.thechedi-andermatt.com

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How’s your Balance? A PRIME LONDON RESIDENTIALINVESTMENT FUND SPECIFICALLY DESIGNED TO TIP THE SCALES IN YOUR FAVOUR by DAVID ALEXANDER Faced with busy schedules, deadlines and clients that always come first, there is all too often a pressing sense that there is never enough time. Today, people do more, do it faster, from anywhere, all the time. They can work from home, the coffee shop, or even the beach. Yet, when it comes to yourself, your family and managing your own financial affairs, “time poverty” is an increasingly common affliction. You spend so much time helping your clients, you have no time left to think about how to invest your hard earned cash. Do you sacrifice your family life and leisure entirely, or do you find a hands-off way to invest? Where do you turn in these turbulent economic times? It would be no surprise if you have already considered what is probably on your doorstep. Prime central London residential property. It has always been a firm favourite amongst the world’s super rich for its lifestyle, its accessibility and importance on the global map. But now it is also seen as a safe haven investment in its own right, a market which can ride out fluctuations in an uncertain economic environment. Central London is probably one of the best asset classes on offer now. Residential prices have doubled on average, every eight or nine years since 1970 and the last eight years have been no exception. Central London has turned in a performance far exceeding other asset classes, even beating gold, that perennial favourite when the going gets tough. Compared with 2007, that glorious time just prior to the credit crunch, central London prices have actually

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risen a further 30%. The FTSE 100 is still down 7%. Market commentators are united in the view that the upward price trends in central London will continue. With strict regulations surrounding our heritage and conservation areas, limited land development potential releasing only about 500 new units into the market each year and a very tight selling market – just 100 transactions a week – there is a huge pressure on supply. Throw in an increasingly wealthy global population who want to get hold of a piece of this exclusive real estate and that adds up to long term capital appreciation. This may make perfect sense to you but more likely than not you have come up against that old problem again – you simply do not have the time to search out and manage that crucial investment. If so, Asset Manager, London Central Portfolio Ltd, with the launch of their third fund, London Central Apartments Ltd, may well have the answer to tip the scales back in your favour. This is a fund specifically tailored at those looking for a hands-off investment in central London. It combines all the benefits of direct real estate ownership in places like Mayfair, Knightsbridge, Kensington and Chelsea, with hard-headed financials and active management to ensure the best possible returns. The fund will individually select around 50 one and two bedroom apartments in all the best postcodes around Hyde Park. Each property will be cherry-picked and interior designed to appeal to the aspirational executive tenant. It will use proprietary financial modelling to determine yields and evaluate the strength of each investment, creating a portfolio of absolutely prime corporate let property.

Unique opportunity to invest into a portfolio of 50 absolutely prime, executive let London apartments. London Central Apartments Ltd will buy 1 and 2 bedroom properties which appeal most to the executive tenant. Acquisitions will focus on compelling capital growth opportunities, targeting a total return of 10 - 13% p.a. over a 5 year term. This could represent a return of up to £80,000 on a £100,000 investment. The apartments will be renovated and interior designed to add value, then actively and professionally managed to generate consistent rental income. The company will be moderately leveraged to enhance returns and will be based offshore to provide tax benefits. It is regulated in Jersey and its Shares are due to be listed on the Channel Islands Stock Exchange. London Central Apartments Ltd intends to raise £50m. The minimum subscription is just £50,000 and it is eligible for SIPPs, SASS and ISAs.

Now open for subscriptions: Minimum £50,000 For more information on how to invest contact: Naomi Heaton or Hugh Best www.londoncentralportfolio.com E: fund3@londoncentralportfolio.com Tel: +44 (0) 207 723 1733

Any information contained in this advertisement relates to the Offer of Ordinary Shares in the Company, London Central Apartments Limited. An application is to be made to list the Ordinary Shares on the Official List of the Channel Islands Stock Exchange. Full details of the Offer of Ordinary Shares is set out in the Investment Memorandum and any investment should be made on the basis of such Investment Memorandum. The Ordinary Shares are not redeemable prior to the expiration of the Company and it is intended that investors will hold the Ordinary Shares until the Company is in effect wound up. Notwithstanding any listing of the Ordinary Shares, it may not be possible to sell the Ordinary Shares at any reasonable price or at any price, prior to the expiration of the Company. The value of the Ordinary Shares may fall and you may not get back the amount originally invested. There are material risks in investing in residential property in London Central and these are set out in the Investment Memorandum. It is available free of charge on request from London Central Portfolio Limited which is an introducer appointed representative of LLP Services Ltd (authorised and regulated by the Financial Services Authority in the UK). This summary has been approved by LLP Services Ltd as a financial promotion under Section 21 of the Financial Services and Markets Act 2000.

The fund aims to return the equivalent of 10 to 13% per annum over a 5 year period; delivered by buying opportunistically, adding value through renovation and long term market growth. That is a potential £80,000 return on a £100,000 investment. Whilst very attractive in itself, London Central Apartments also offers other significant benefits.

says, “residential property in the heart of prime central London has genuine trophy status, but the shrewd investor can make a great return at the same time. London Central Apartments provides HNW delegators with the perfect opportunity to access this market”. Open for subscriptions for a limited time now, London Central Apartments will enable you to access this exclusive marketplace, whilst delegating all the day to day property management hassle and enjoying the virtues of a diversified investment portfolio.

As a fund structured to generate capital gain rather than income, it can be the perfect savings vehicle. For higher rate income tax payers, a CGT liability of just 28% (before allowances) is also greatly preferable to an income tax bill of up to 40 or 50%. London Central Apartments Ltd is eligible for SIPPs and SASS as well as ISAs, providing an excellent investment opportunity at a time when it is difficult to find rewarding ways of allocating one’s pension pot. With a minimum subscription of just £50,000, it can be an ideal way to put down, in effect, a “deposit” which will keep pace with the market, for one’s children later in life. Naomi Heaton, CEO of London Central Portfolio Ltd, the Asset Manager which has launched London Central Apartments on the back of 22 years’ experience in the central London market

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Perfect for the time poor, it offers a place to store, preserve and accrue wealth during a period of considerable volatility across global equities and other traditional asset classes. For more information: Contact Naomi Heaton or Hugh Best 116 Seymour Place, London W1H 1NW E: fund3@londoncentralportfolio.com Tel: +44 (0)20 7723 1733

www.londoncentralportfolio.com

Are You Gambling with Your Retirement? By Matthew Aitchison What does retirement mean to you? Is it what lies at the end of your working life, or your reward for being successful and planning well? There are so many people the world over who amble towards retirement with no real idea as to whether they will they achieve the retirement lifestyle they desire. Whether or not they do, is down to chance, and therefore essentially gambling!

When I talk of retirement, most new clients tell me they are paying into a pension and are planning to retire at age 65. However, most people donâ&#x20AC;&#x2122;t consider the detail, which is so important! Questions to consider are: 1. Exactly when do you want to retire? 2. Will you work part time, or progress straight from full time to retirement immediately? 3. What are your current outgoings and how much will they differ in retirement? 4. Will you have regular capital outlays such as a new car every four years? 5. Now you have the time, will you want to go on safari and visit Australia, or just have regular luxury holidays? 6. Will you want to play more golf, socialise more, visit the theatre more, etc. Without knowing what you want to achieve, and having a plan to get you there, you leave your retirement income matching your desired lifestyle more down to luck than good judgement. Once you have a picture of what you want your retirement to look like, you then know what the target is. But how accurate is your target? What effect will inflation have? How much is your desired retirement likely to cost you in 5, 10 or 15 years time? Not only that, but what will it cost 10, 20 or 30 years into retirement? Too many people plan their retirement to their retirement date without thinking about the future beyond that date. The reality is that an investment timeframe for someone at age 60 is no longer five years. It is now closer to 35 years. If the plan is to use the income for retirement but leave the capital to the next generation, the timeframes extend again. With the knowledge of these required future cash flows, you can begin to analyse your pension provision. The starting point is establishing where your pension provision is currently. What do the various pots add up to? This can include non pension assets if the intention is to use them for retirement planning. For high earners (especially those in danger of exceeding the lifetime allowance), this can mean the analysis includes such structures as ISAâ&#x20AC;&#x2122;s and offshore bonds. This is your base starting point in developing your retirement strategy. Once the starting point is established, next look at how much are you contributing to your retirement planning? This includes related thoughts, such as whether this amount will stay static, whether there will be lump sums added at later points, etc. Will this be enough? This is traditionally a very difficult question to answer. In reality, the answer may change from year to year, bringing in the importance of reviewing funding levels regularly as well as investment related issues. Ok, so now you have an idea of the goal, you have established where you are starting from and how much will be going in each year. However, what about the growth rate generated by the underlying investments? This has many contributing aspects, the most important of which being the asset allocation. This is the mix of different asset classes

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within your portfolio. This can generally be made up from equities, fixed interest, property and cash, however, some people now include natural resources, hedge funds and private equity to name a few. It has been proven in various academic studies that asset allocation is the primary driver behind returns so getting this right needs to be a top priority. The asset allocation you use should be based on the growth rate needed to achieve your target and the level of volatility you are comfortable with. However, it is not quite as simple as that. How do you populate that asset allocation? Do you use an active approach, passive approach or a mixture of the two? There are many academic studies that show the lack of value add from active fund managers, however, there are still fund managers out there who do add value. The question is how to identify these managers in advance. Whilst this article is not investment focused, the investment approach is an essential element to your retirement planning. Whatever your belief, you need to ensure that any fees paid to a fund manager are receiving value for money and that you are happy with the approach they are taking. The growth rate makes up one side of the equation; the other side is the ongoing charges. This can include the annual management charge levied from the fund manager, additional fund costs that are not disclosed in the annual management charge, the wrapper charge (i.e. the charge for the provider giving access to a pension, ISA or offshore bond wrapper), the adviser charge and any other charges that may be levied. Dependent on the wrapper, these can be bundled together to give a total management charge (tends to be traditional pension structures), or separated into their individual elements (tend to be SIPP like structures). Whichever approach is used, a total cost figure needs to be established. Once this is done, you begin to gain an appreciation for the drag on investment performance. We have already touched on the fund management charges. Some people believe that by paying more to your fund manager you gain more expertise. However the opposing view to this, is that the higher the charge, the more difficult it is for the fund manager to deliver any value due to the high cost hurdle. Again, whichever approach used, you need to ensure that you do not pay over the odds and that you are comfortable with the strategy you are using. The most important jobs a fund manager can do are not pick stocks or time the market, but give access to a particular asset class in a diversified and cost efficient manner. One aspect that should be paid attention is the additional costs. As the name suggests, these are in addition to the annual management charge. When added together they produce the total expense ratio, which is often not quoted on fund fact sheets. There can sometimes be a marked difference between the annual management charge and the total expense ratio. Without knowledge of this, you can be fooled to think your fund is charging you a small amount, when in fact the costs are much higher. The wrapper charge is the charge levied by the provider to give the tax efficiency of the pension (or other structure). There are many different charging structures out there, especially when it comes to pensions. In general the charging structure that delivers the most value for money should be sought out. There is a clear distinction

between this and the cheapest. It may be that you need aspects provided by a contract that isnâ&#x20AC;&#x2122;t the cheapest. However, there is no point in paying for flash advertising or marketing budgets when the main thing you desire from the wrapper is the tax efficiency provided. One point to make is that none of this takes account of extra aspects such as guarantees attached, or penalties for exit. In this case, weighing up the benefits of value for money and transparency against lost benefits becomes paramount. Lastly, the contentious issue of adviser value add. For those of you who donâ&#x20AC;&#x2122;t use an adviser, this is less relevant. For those of you who do, this is arguably the most important service being delivered. An adviserâ&#x20AC;&#x2122;s job is to ensure that your retirement planning will meet your objectives. As you can see from above, this is so much more than product or fund picking. These are but small aspects of the overall view. A good financial adviser will structure your affairs in the most efficient manner. They will design a strategy to allow you to achieve your financial goals as well as ensure that you remain on track with those goals. They will constantly evaluate the investment strategy being used and address any legislative risks. Essentially, this translates into providing peace of mind that your retirement planning will deliver the level of financial independence you wish for in retirement.

are charging (and they must be charging fees, not working on a commission basis, no one does anything for free). Effective retirement planning does not happen by chance, nor is it a simple process. Careful consideration and planning early on will save stress and heartache later on in life. Donâ&#x20AC;&#x2122;t walk blindly into retirement, look forward to it! Grasp your retirement planning with both hands and take control. Clear Vision Financial Planning Limited, 6 Cherry Walk, Kempston, Bedfordshire, MK42 7PB, T: 01234 851 797, E: mail@clearvisionfp.co.uk

As valuable as this is, not all advisers are created equal. You need your adviser to be delivering value for money for the fees they

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)F ILLNESS STRIKES AND YOUÂ´RE UNABLE TO WORK COULD YOU Up to ÂŁ1200 tax free benefit per week*

Benefit payable from day one or a choice of deferred periods No premium loadings for occupation All our members get a tax free lump sum at retirement* An option to increase your lump sum No penalty for frequent claims or limit on the amount of claims Call 0121 452 1066 or email info@dgmutual.co.uk to arrange your cover today * under current UK legislation

www.dgmutual.co.uk Authorised and Regulated by the Financial Services Authority

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Grace around the world

By Amy James In the last two years, Grace Hotels has expanded rapidly, bringing its signature luxury service to new and exciting destinations from Beijing to Argentina, allowing guests to enjoy a seamless Grace experience and unparalleled level of service across their range of hotels regardless of their locality The Grace Hotels story begins in Greece with their original hotels Grace Mykonos and Grace Santorini. Masterful in their design, pairing traditional Cycladean architecture with modern, minimalist and clean interiors both hotels spill down mountainsides affording sweeping views of the Mediterranean. Grace Mykonos opened in 2007 and in the same year went on to win the European Hotel Design of the Year award. Perched above a sandy beach just outside the vibrant Mykonos Town, the hotel offers visitors both easy access to the party life and a quiet oasis of calm for those who wish to retreat from it. Agios Stefanos beach at the foot of the mountain throws up a patchwork of colourful umbrellas and sun-beds, the beachfront a pocket of lively restaurants and cafes. The hotel overlooks the azure waters of the Aegean and the island of Delos, with most rooms are sea facing to ensure maximum enjoyment of the hotelâ&#x20AC;&#x2122;s enviable position. A day trip by yacht to Delos is a must, to explore its barren hills littered with ruins and artefacts, one of the most important historical and archeological sites in Greece and UNESCO World Heritage Site. The hotel will time the cruise so that youâ&#x20AC;&#x2122;ll enjoy a sunset dip on your way back to Mykonos in the enchanting bays of Rhenia Island.

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Investing with a Dynamic, Innovative Wealth Manager

Fund Managers Reliance on Caveat Emptor is No Excuse for Not Doing the Right Thing by Clients The UK savings and investment industry has lost sight of its moral imperative to remember the human impact of managing people’s money. Often we are dealing with people at their maximum point of vulnerability, when they are anxious about their families and their futures. Behaving ethically means not losing sight of the responsibility we owe to the people whose money we manage. Your money, your futures. It is simply inexcusable that someone can buy a share themselves and easily track (normally for free) how much it costs to buy and how much it’s worth thereafter. Of course ethics were not as much of an issue when markets went up 15%+ year on year, and the internet did not possess the power of accountability that it exerts today.

Our success comes from our clients’ belief in our proposition, trust in our decisions and satisfaction with our investment performance. With an independent, dynamic mind-set and an innovative spirit that is not afraid to challenge the status quo; our aim is to help our clients grow their wealth by maximising the upside and minimising the downside. We are passionate about what we do and treat investors with respect; never forgetting it is their money we are investing. The founding partners demonstrate their belief in their investment solutions by investing significant funds in exactly the same portfolios as clients, on exactly the same terms. We believe in what we do, and we do what we believe in.

This is not just about fees, this is also about knowing exactly where your money is invested. However, fees are a vital component as they erode performance and the amount an investor gets back in their pocket. At SCM Private our goal is to ensure that we remain relevant to our clients’ needs and expectations and provide 100% transparency both in terms of holdings and fees.

Gina Miller Founding Partner Email: gina@scmprivate.com • Tel: 020 7838 8650

SCM PRIVATE www.scmprivate.com SCM Private is authorised and regulated by the Financial Services Authority. Risk and performance can change over time. The value of investments and the income from them can go down as well as up and you may not recover the amount of your original investment. Past performance is not necessarily a good indication of likely future performance.

Grace Santorini is an architect’s dream, expertly crafted into the steep hillside, high above Santorini’s Caldera, rolling down to the sea. From the numerous vantage points at Grace Santorini including private terraces, plunge pools, the infinity pool and the outdoor restaurant, guests can soak up exceptional views of the Aegean, the famous Santorini sunsets and the islands of Thirasia, Palaia and Nea Kameni. Santorini’s Caldera, a deep basin formed in 1500 BC when the island’s volcano sank into the sea. Grace Santorini boasts artful windows carved from this distinctive rock that allows sun to stream in and dapple the walls in a unique manner. Expansion of the Grace Hotels portfolio began with Vanderbilt Grace, which opened in early 2011 in Newport, Rhode Island – a classic New England harbour town favoured by the East Coast yachting set and political elite. Newport has long been a movie setting, most recently playing host to Wes Anderson and in the past the backdrop for Francis Ford Coppola’s The Great Gatsby adaptation starring Robert Redford. Vanderbilt Grace hotel also has a glitzy past - dating back to 1909, it was commissioned by Alfred Gwynne Vanderbilt, a member of the famous Vanderbilt family who gained prominence in the early 19th century as major players in the American railroad and shipping industries. Some sources suggest that the mansion was originally intended as a home for Alfred’s glamorous mistress, Agnes O’Brien Ruiz, the wife of the Cuban Attaché to the USA, but this story has never been confirmed. The Vanderbilt Grace lies in the heart of Newport, one of the stops on the circuit of the famous Newport mansions beloved of visitors and locals alike. It boasts a vast Spa and roof top terrace perfect for sipping sundowners, a cosy library and snooker and billiards room. Muse by Jonathan Cartwright is a new fine dining restaurant which opened in the summer of 2011 under the oversight of Jonathan Cartwright, Group Chef de Cuisine for Grace Hotels. Already attracting rave reviews Muse serves a menu composed of locally sourced, fresh New England seafood, fruits and vegetables with an emphasis on seasonality and a European twist on classic Rhode Island dishes. Guests can choose to dine in Muse or the more informal Conservatory restaurant.

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Newport is home to one of the world’s most famous jazz festivals held every August and lively sailing regattas take place throughout the summer months. Heading East, Grace Beijing opened its doors in summer 2011, a vibrant, edgy design hotel in the heart of up-and-coming 798 District, the beating pulse of the capital’s fashion and arts scene. Formerly the “Yi House” hotel, it was rebranded Grace Bejiing to become the first boutique hotel of its kind in this neighbourhood. This architecturally and visually distinctive hotel contains 30 luxury rooms each with its own unique contemporary decor, reflecting its enviable location within Beijing’s cultural arts centre. The renowned hotel restaurant has been re-named ‘Yi House’ to honour the hotel’s origins. It offers modern Mediterranean and Asian cuisine and has a superb wine cellar. Décor-wise, Grace Beijing blends contemporary Chinese art and traditional accents with influences ranging from Ming Dynasty artefacts to a modern colour palette and striking furniture. The Beijing 798 Art District is in the Chaoyang area of Beijing. It was originally created as an industrial complex in the early 1950s as part of the Chinese Government’s first five-year plan. The highly functional architecture which was heavily influenced by the Bauhaus movement created large indoor spaces designed to let natural light into the workplace. It wasn’t until 1995 when Beijing’s Central Academy of Fine Arts (CAFA), was looking for work space that they selected the disused factory area as the perfect environment for artists. Since then it has become home to many Beijing artists as well as numerous art galleries and bookshops. It is also a centre for fashion design and architecture. Grace Beijing is ideally situated for those wishing to explore this historically and culturally fascinating city and beating heart of Asia’s political and economic powerhouse. The expansion doesn’t stop there. Grace Hotels will embark on a Latin American adventure in 2013, opening Grace Panama and Grace Cafayate in Argentina – two very distinctive experiences in these burgeoning tourism hubs.

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Paradise Found By Sarah Collins

I have always dreamed of living on a private island, waking up every morning to sweeping views of the ocean with only the sound of crashing waves and the odd pelican chirping around me. Today I will be experiencing a day in the life of a property owner on a private island; Pearl Island. This is a 3,500 acre island off the West coast of Panama which is offering an exclusive opportunity for a private island lifestyle. Excited is an understatement. Leaving the hustle and bustle of Panama City, I wonder how life can be transformed from a skyline of sky-scrapers to idyllic island paradise in a mere twenty minute plane ride. As we approach Pearl Island, all my questions are answered. Below us are acres of tropical forest and clear blue water, so transparent that I can make out the untouched coral reef which lies beneath. I am not quite sure how the pilot can navigate us to the islandâ&#x20AC;&#x2122;s small airstrip, but he manages I am relieved to say. Once on Pearl Island, I can see exactly why this island is hallmarked as the next sustainable luxury island hideaway. With 10 square kilometres of natural reserve, awash with vibrant flora and fauna, you immediately feel closer to nature and day to day stresses are quickly left behind.

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When making our way round the island, homesite plots are marked out indicating how unique each residence will be at Pearl Island in terms of views and location. Owners will be able to choose from beachfront, oceanfront or hilltop canopy positions located across a series of neighbourhoods linked by a network of bicycle friendly trails and paths; ensuring the authenticity and privacy of island life remains. Ranging from 3,000 to 20,000 square metres, each property will be bespoke and owners can build anything from an intimate casita to an elaborate villa. As part of the Founders Phase at Pearl Island, a limited number of lots have been released and a 24 suite boutique hotel will be built. On the Cueva Peninsula of the island, a two-storey Beach Club will also open directly onto the white sands of one of the island’s most serene beaches. Its traditional thatched-roof pavilion will become a popular hub for the community and will offer delicious cuisine sourced from throughout the region. The adjacent Recreation Club will offer a Kids’ Club, tennis courts, and luxury spa with private outdoor palapas for island-inspired treatments. Buyers who purchase their property within the Founders Phase not only get to be one of the first to buy on Pearl Island but receive a waiver of the initial fee for its membership programme. This includes access to the island’s amenities as well as favourable rates on scuba diving, whale watching and sport fishing excursions. Owners at Pearl Island will be able to enjoy a number of owner benefits including a dedicated concierge service that helps with the day to day necessities such as food shopping, fresh flower services, babysitting and housekeeping. If owners manage to tear themselves away from their property (I cannot imagine how this would be possible), they need not worry about when they return as the team at Pearl Island will ensure residences and landscapes are maintained as well as providing around the clock security and CCTV. Something that stood out for me was the history behind the island and the way in which the developers speak of stories of the past, gleaming with pride you could say. Over two years ago, a team of archaeologists, commissioned and sponsored by the Smithsonian Institute conducted excavations on the island uncovering priceless artefacts from the island’s 6,000-year history of civilization. These breathtaking findings, now housed in Panama’s Museo Patronato included jewellery, pottery, fishing traps, and petro glyphs from early indigenous cultures. Even the waters surrounding Pearl Island have a history of their own worth shouting about as the famous La Peregrina pearl was found in the Las Perlas Archipelago. It’s not often you can say I swam in the waters where a pearl, recently sold for £7.6 million, was found! The Pearl archipelago was once at the heart of the Pearl trade before Chinese pearl farming took over, as such natural oyster pearl cultivation farms are planned for the island’s shores and both natural pearls and mother of pearl, as well as edible oysters will once again be traditionally farmed in its surrounding tropical waters. Snorkel on I take the plunge, secretly hoping I may find another lost pearl…

Our island guide tells us that the word “Panama” in the local Indian language is said to be “an abundance of fish” and after snorkelling I can see why. During our swim we were joined by an array of tropical fish and shared a glimpse of a sea turtle, all whilst enjoying the coral reef we saw so clearly from the plane earlier. Although we did not manage to spot each of the species of fish that reside in Panamanian waters, we were in awe of such plentiful sea life. the barrister | Lifestyle supplement

Re-imagined by Dolphin Capital Investors and Grupo Eleta, the developers behind Pearl Island were adamant their involvement should involve enrichment and as such they have invested heavily in corporate social responsibility. Along with with Casa Taller (a Panamanian non-profit foundation promoting education and culture) Pearl Island educated the island’s existing small village by improving the island’s sanitary conditions, healthcare, security, education and general standard of living. It is reassuring to know that sustainability is at the forefront of the developer’s minds and so that the uttermost care has been t a k e n

living. In terms of economic growth and development, Panama City is rapidly turning into the leading metropolis of Latin America due to Panama’s ever growing economy. From 2005-2010 Panama’s economy expanded by more than 8% a year, the fastest rate in the America’s (one of the fastest in the world for that matter) and its GDP growth rate was a staggering 6.2% in 2010. There are many advantages to buying real estate in Panama which has attracted foreign buyers from North and South America and Europe. Property is bought and sold in US dollars, there are no restrictions on foreign buyers and Panama’s international airport provides numerous flights to the Americas and Europe. It appears then, that the time to invest in Panama is now, with early release lot prices at Pearl Island range from $800,000 to $2 million.

to ensure that all construction on Pearl Island abides by the principles of environmental and social responsibility. 75% of the island will remain undeveloped and owners will be encouraged to steward the Island Foundation, a not-for-profit organization that will ensure the island is cared for. To demonstrate the developers care for their island, a percentage of all property sales are to be dedicated to the establishment.

All in all, I think I am suited to private island life, particularly life on Pearl Island, where the hardest decision being which beach to visit, what area of the island to explore that day and what restaurant in Panama City to visit that night. A girl can dream…

You would be mistaken for thinking all you can do on Pearl Island is sit by the sea; boating enthusiasts will fall in love with the sailing Mecca of Panama by adventuring from island to island, from one deserted beach to another. Nurturing over 150 species of birds, including a vast population of migrating pelicans, bird lovers will not be left disappointed nor will wildlife admirers who will be able to fill their day searching for the island’s various species of animals, lizards and amphibians. After a spectacular day exploring the island’s many beautiful features we have to say goodbye and hop back on our private plane to Panama City. Although the serenity of private island life is quickly lost, our adventure is not yet over as we explore the city’s historic quarter, Casco Viejo which was named a UNESCO World Heritage site in 1997. This charming district of narrow streets, overlooked by flower bedecked balconies offers an exciting culinary scene that not only speaks of the country’s heritage, but also its international influences. Enjoying a revival, this charming colonial sector with its 17th century churches and historical buildings is quickly becoming the place for boutique eateries and European-style cafes and is a great addition to island

www.pearlislandliving.com www.pearlisland.com

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Pendleyâ&#x20AC;&#x2122;s people, plays and peacocks

By Bob Little

the barrister | Lifestyle supplement

I first sampled the delights of Pendley Manor many years ago when, as a child, I visited its Shakespeare Festival. I was instantly impressed by the atmosphere of the place - an impression that’s never been dispelled over a number of visits in adulthood. Pendley – with some echoes of the above stairs lifestyle of a latter day ‘Downton Abbey’ - offers a glimpse of late-Victorian gracious living but with the facilities now expected of a modern country house hotel. Although I’ve been to Pendley for business meetings, my most recent visit was for some relaxation one winter weekend. After checking in, my wife (Helen) and I put our bags in our room – a large room in the more modern part of the hotel. The room not only had its own dining table, settee, coffee table and dressing table but it also featured a super-king sized bed that, from its

ample width, looked like it was made for three rather than two people. Other rooms – particularly in the original house – have four poster beds but not so many dining and coffee tables. The next task was to go in search of a cup of tea – which was easily accomplished in the leather armchaired splendour of the Shakespeare Bar. Over the ornate giant Victorian fireplace there was a newly erected certificate, reassuringly proclaiming that Pendley had been highly commended in the ‘large hotel/ townhouse of the year’ category of The Beautiful South Awards 2011, organised by Tourism South East. Edified and fortified, we set about researching the hotel’s leisure facilities. In the bowels of the old building – once upon a time, the cellars – is an archetypal country house snooker room and

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a gym. The gym is more than adequate for the casual ‘keep fitter’ and, judging from its other occupant on our visit, for the serious workout fanatic too.

better weather, however, the Manor’s gardens and grounds - about a 40 minute train journey from London - provide welcome havens of rural peace.

We met our gym partner again a little while later, in the much newer swimming pool complex, sampling the effects of an instant flatulence machine otherwise known as a spa bath. Connected to the pool area by a subterranean passage are the sauna and steam rooms. We found that a visit to these necessitated a further trip to the instant flatulence machine in order to chill out.

From time to time, however, the peace of Pendley’s grounds is shattered by the call of the Manor’s tribe of ten or so peacocks/ peahens. They tend to roost in the big beech tree close to the house but they roam the grounds, getting into whatever mischief they can. Apparently, they’ll deign to appear in wedding photographs – or not – in inverse correlation with whether or not you want them to.

To the delight of those who don’t want to - or feel they daren’t chill out too much at Pendley, the hotel provides free wi-fi access which even a technophobe such as I found easy to access.

A chat with Rene, the duty manager, revealed that Pendley’s two baby peacocks had recently been given to a local farmer, after their mother had been killed by a fox.

The evening heralded our eagerly awaited dinner appointment in the restaurant. Experience has taught us that the quality of the food at Pendley is excellent. This time – ably served by waiters, Edward and Cyril – we chose from the à la carte menu and, once again, found the food and drink a delight.

“The adult peacocks roost in the big trees here – out of the way of foxes,” he explained. “But the young birds stay on the ground and hide. One morning, however, we found the youngsters but the peahen had died defending them.”

Since it was winter, although the weather was bright, we didn’t feel intrepid enough to brave the elements and trek around the 35 acres of the Pendley estate, much of which is woodland. In the

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For all I know, it might have been Dorian Williams who introduced the peacocks to Pendley. Or they might easily pre-date a man whom few people, today, remember. Those who do, probably recall him as the BBC’s voice of televised show jumping – but his last

broadcast was in 1985, a few months before he died, aged 71. Yet – apart, possibly, from peacocks - he left two major legacies for us all. At the end of the Second World War, Mr Williams turned his home, Pendley Manor, into an adult education centre. Two years later, one of the centre’s groups performed some scenes from Shakespeare plays in the Manor grounds and, two years after that, the Pendley Shakespeare Festival began. Now in its 63rd year, this year’s productions are Romeo & Juliet and Much Ado About Nothing. Every July and August, the Manor’s grounds are turned into an open air theatrical Glyndebourne, as picnickers party in the summer evening sun before enjoying a dose of Shakespearean culture. While rain is not unheard of in Tring, it’s rare during the Festival, so there’s a good chance of combining a fine picnic with a fine evening’s entertainment. Dorian Williams’ other legacy was his grade 2 listed country house and its grounds. At a mere 140 years old, the current house is the latest in a line of manor houses at Pendley from before the Norman Conquest. The village is first recorded in the fourth century, so it’s reasonable to assume there’s been a manor house in Pendley for some 1,800 years. Bob and Helen Little stayed at Pendley Manor, near Tring, Hertfordshire (http://www.pendley-manor.co.uk/) Pendley Manor is an award winning (including two rosettes for its restaurant) 4 star country manor house. It has 35 acres of wooded parkland, 73 double bedded rooms, a ballroom for up to 200 guests and a spa with swimming pool and snooker room. It caters for conferences (up to 250 people), banquets, weddings and civil partnership celebrations. It can also offer afternoon tea.

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Christopher Ricketts (St Bede’s School) A2 Examination Piece June 2011 Christopher produced this work from scratch in a mere 12 hours under examination conditions. This includes the production of customised decorative typography in Photoshop and extensive hand drawn illustrations. Christopher attained an A* grade at A2 level and achieved marks of 100% in his A2 units.

‘We could be forgiven for running out of superlatives when viewing their (St Bede’s) Art department…’ The Good Schools Guide 2011

Sue Leung is studying at the Central School of Ballet having left St Bede’s Senior School in the summer of 2011 after completing her A Levels She was a member of the prestigious Legat School of Dance at St Bede’s and at A Level achieved A grades in Dance, Mathematics and Business Studies – for her written A2 Dance paper, Sue was awarded full marks

‘A very popular school with huge opportunities for pupils – both the quirky and the conventional.’ The Good Schools Guide 2011 St Bede’s Senior School – co-educational boarding and day for students aged 13 -18

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a HeaRt liKe no otHeR continental Gt V8

The new Bentley Continental GT V8 redefines Grand Touring with an exhilarating twist of innovation: A 4.0-litre twin-turbocharged engine. Its turbochargers are mounted within the ‘V’ for efficiency and weight reduction, and variable displacement allows for a seamless switch from a visceral V8 to an effortless V4. It makes an awe-inspiring sound and gives the 8-speed transmission, all-wheel drive Continental GT V8 the power to combine dynamic sports performance with best-in-class Grand Tourer range. DIFFERENTLY DRIVEN.

For information call 0845 689 1625 † or visit www.bentleymotors.com Fuel consumption figures for the Continental GT V8 in mpg (l/100km): Urban 18.4 (15.4); Extra Urban 36.7 (7.7); Combined 26.9 (10.5). CO2 Emissions (g/km): 246. Fuel consumption figures are provisional and subject to Type Approval. The name ‘Bentley’ and the ‘B’ in wings device are registered trademarks. © March 2012 Bentley Motors Limited. Model shown: Bentley Continental GT V8, mrrp £123,850. Price correct at time of going to press and includes VAT at 20%. Price excludes road fund licence, registration and delivery charges. †Calls will be recorded for training purposes.