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Market Commentary June 2017

05-06-2017

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. As indices hover around all-time highs, investor unease remains palpable. Partly that is [...]

Market Commentary May 2017

08-05-2017

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. One of the most famous sayings in the stock market starts with the words “Sell in May [...]

Market Commentary April 2017

10-04-2017

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. Following a good start to the year for equities, investors are beginning to ask themselve [...]

Greensleeves Homes Trust 4.25% 30/03/26

13-03-2017

Please find some complementary research on the 4.25% 30/03/26 bond issued by care-home provider Greensleeves Homes Trust. Greensleeves Homes Trust ("Greensleeves") is a charity that provides care for older people in its up-market residential, dementia and nursing homes across England. The charity [...]

Market Commentary March 2017

06-03-2017

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. Since 1927, or right before the big crash, the stock market has averaged a mid-single-dig [...]

Market Commentary February 2017

06-02-2017

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. “Buy the election, sell the inauguration.” That was the prevailing sentiment on Wall [...]

Market Commentary January 2017

09-01-2017

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. We wish all our clients a very Happy New Year and all the best for 2017. Last year will b [...]

Market Commentary December 2016

05-12-2016

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. Not for the first time this year, conventional market wisdom about the response of asset [...]

Market Commentary November 2016

01-11-2016

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. November is typically a good month for the stock market, rising on average 0.7%. Of cours [...]

Market Commentary October 2016

03-10-2016

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. The short-term pullback we expected in September failed to materialise and given the Pres [...]

Market Commentary September 2016

05-09-2016

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. After the summer lull, things get exciting again for investors in September in what is hi [...]

Market Commentary August 2016

08-08-2016

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. The FTSE 100 has continued to gain ground following the UK’s shock Brexit vote. A lot o [...]

Market Commentary July 2016

11-07-2016

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. Despite all the confident predictions of investment banks, political commentators and the [...]

Gibraltar Philharmonic Society

23-06-2016

Gibraltar Asset Management Limited is proud to be sponsoring The Queen's 90th Birthday Celebration Concert which will take place on 30th June at the Convent Ballroom at 9pm. As one of the sponsors, we have VIP tickets for the concert. The concert will feature the European Sinfonietta featuring B [...]

Market Commentary June 2016

11-06-2016

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. A year ago, most equity indices were up for the year, and investors were surely anticipat [...]

Market Commentary May 2016

03-05-2016

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. The FTSE 100 climbed 95 points in April, in keeping with its historic pattern of being th [...]

Burford Capital Plc 6.125% 26/10/24

14-04-2016

Please find some complementary research on the Burford Capital Plc 6.125% 26/10/24 bond, which is currently in the 'Offer Period' before being listed on the London Stock Exchange. Burford Capital Limited ("Burford") is the world’s largest provider of litigation finance with approximately 60 staff [...]

Market Commentary April 2016

04-04-2016

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. The final equity index performance numbers for Q1 2016 are now in the books, and they loo [...]

Alpha Plus Holdings Plc 5% 31/03/24

15-03-2016

Please find some complementary research on the Alpha Plus Holding Plc 5% 31/03/24 bond, which is currently in the 'Offer Period' before being listed on the London Stock Exchange. Alpha Plus Holdings Plc ("Alpha") and its subsidiaries operate 12 independent schools, 14 nurseries and 4 sixth form c [...]

Market Commentary March 2016

01-03-2016

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. The FTSE finished the month just 14 points away from where it started but that is only ha [...]

Market Commentary February 2016

01-02-2016

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. The stock market came out of the gate with great hopes to begin 2016 and then fell flat o [...]

Market Commentary January 2016

11-01-2016

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. Unfortunately, the traditional Santa Claus rally along with various other favourable seas [...]

Market Commentary December 2015

01-12-2015

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. Equity markets appear to be forming a base from which to rally from, with the FTSE 100 mo [...]

Market Commentary November 2015

02-11-2015

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. Global equity indices have clawed back the bulk of the summer’s losses and now look in [...]

Market Commentary October 2015

05-10-2015

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. The current pattern of each attempted rally in equity indices faltering before matching t [...]

Market Commentary September 2015

01-09-2015

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. Cool economic winds from China have left the FTSE 100 nursing its worst monthly losses si [...]

Paragon 6% 24/08/24

17-08-2015

Please find research on the Paragon 6% 28/08/24 bond, which is currently in the 'Offer Period' before being listed on the London Stock Exchange. Paragon Group of Companies Plc ("Paragon") is a FTSE 250-listed company with market capitalisation of approximately £1.3bn. Founded in 1985, it is predom [...]

Market Commentary August 2015

03-08-2015

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. As expected, the market rebounded after July’s 6.6% retracement, putting in a decent ga [...]

Market Commentary July 2015

01-07-2015

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. The month of June saw the FTSE 100 fall 463 points, or 6.6%. Last month we noted that the [...]

Market Commentary June 2015

01-06-2015

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. The month of May saw the markets trade sideways with the Conservative election victory la [...]

Market Commentary May 2015

04-05-2015

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. April saw the FTSE 100 reclaiming the 2.5% it lost in March, perhaps somewhat against exp [...]

Market Commentary April 2015

01-04-2015

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. Stock markets have been enjoying their best first quarter in years, not least thanks to t [...]

Market Commentary March 2015

02-03-2015

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. The FTSE has continued its forward march climbing 2.9% and breaking record highs in the [...]

Market Commentary February 2015

02-02-2015

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. Last month, we moved to equalweight on the stock market. In the event, the market exceede [...]

Market Commentary January 2015

02-01-2015

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. Last month, we remained overweight on the stock market, noting that December was historical [...]

Market Commentary December 2014

01-12-2014

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. Last month, we remained overweight on the stock market, noting that November was historica [...]

Market Commentary November 2014

03-11-2014

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. Last month, we moved to overweight on the stock market, noting that October was historical [...]

Market Commentary October 2014

01-10-2014

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. Last month, we moved to underweight on the stock market, noting that the market was overe [...]

Market Commentary September 2014

01-09-2014

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. Last month, we continued with our equalweight position on the stock market whilst noting t [...]

Market Commentary August 2014

04-08-2014

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. Last month we reversed our outright underweight position on the stock market and reverted [...]

Market Commentary July 2014

01-07-2014

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. Last month we advised investors that considering that the FTSE 100 was lying 199 points a [...]

Market Commentary June 2014

02-06-2014

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. Last month we advised investors that competing seasonal and fundamentally constructive vie [...]

Graduate Trainee Required

20-05-2014

Following a rapid expansion of our business, Gibraltar Asset Management is looking to recruit a talented individual to join our team as a trainee Stockbroker & Investment Manager. There is no age restriction and no prior experience is required, however, you will possess an Honours degree and be a [...]

Market Commentary May 2014

01-05-2014

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. Last month we advised investors “the market has unwound its overbought levels and we se [...]

Market Commentary April 2014

01-04-2014

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. Last month we advised investors “Following such a large rise in the market, we feel tha [...]

Market Commentary March 2014

03-03-2014

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. Last month we advised investors “Following such a large fall in the market, we feel th [...]

Market Commentary February 2014

03-02-2014

Last month we advised investors “the rally enjoyed by the equity market since mid-December has taken the indices up to levels where we see profit-takers coming in.” Despite the FTSE 100 gaining more than 100 points at one stage, it subsequently fell on profit taking, a weaker than expected jo [...]

Market Commentary January 2014

02-01-2014

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. For this year, we have improved our editorial, including such features as an Investment [...]

Market Commentary November 2013

29-11-2013

Since our last market commentary, in which we moved to equalweight from overweight on equities, the FTSE 100 has fallen 117 points (1.73%). After reaching multi-year highs, the equity market was simply looked tired. Indeed, various indicators at the beginning of the month predicted this – the b [...]

Buy Provident Financial Plc

11-11-2013

Provident Financial is a rare financial company that offers double-digit earnings growth (EPS CAGR of 15%), resulting in 25% potential upside to our price target of 1970p, coupled with a high and growing dividend yield of 5.4%. Recent investor concern that PFG’s major shareholder may be looking [...]

Market Commentary October 2013

31-10-2013

Since our last market commentary, in which we moved to overweight on equities, the FTSE 100 has risen 253 points (3.9%). As expected, the debt ceiling can was kicked down the road and the markets took off in response. Our Buy recommendation on Shire Plc (See trading note of 16th May 2013) at 2051 [...]

Market Commentary September 2013

27-09-2013

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. Since our last market commentary, in which we remained equalweight on equities, the FTSE [...]

Market Commentary August 2013

30-08-2013

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. Since our last market commentary, in which we moved to equalweight on equities (from over [...]

Intermediate Capital Group Plc 6.25% 19/09/2020

22-08-2013

Please find some complementary research on the 6.25% 19/09/20 bond issued by FTSE250-listed specialist asset manager Intermediate Capital Group Plc. Following its launch last year, the bond has mostly traded above par, reaching at one point a high of 106.5. Having retraced to the 103 level, we b [...]

Market Commentary July 2013

31-07-2013

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. Since our last market commentary, in which we remained overweight on equities, the FTSE 1 [...]

Market Commentary June 2013

30-06-2013

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. Since our last market commentary, in which we remained equalweight on equities, the FTSE [...]

Market Commentary May 2013

31-05-2013

Please find view this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. Since our last market commentary, in which we remained equalweight on equities, the [...]

Sell Smith & Nephew / Buy Shire

16-05-2013

Today, we are recommending our clients to sell Smith & Nephew Plc and switch into Shire Plc. Smith & Nephew Plc has performed well since we added the stock as a 'special situation' in our model portfolio. We are now advising our clients to take profits as though the business is in reasonable shap [...]

Market Commentary April 2013

30-04-2013

Please click find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. Since our last market commentary, in which we turned neutral on the markets and ad [...]

Market Commentary March 2013

28-03-2013

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. Since our last market commentary, in which we remained negative on the markets and advise [...]

Sell Prudential / Buy Aviva

21-03-2013

Today we are advising our clients to switch from Prudential to Aviva. Prudential has had a great run of late. The stock is up 30% year-to-date and 13% since the evening before the FY12 results were published. The stock is trading on a 2.9% yield and 1.4x Price/EV (enterprise value), a premium sec [...]

Market Commentary February 2013

28-02-2013

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. Since our last market commentary, in which we turned negative on the markets, the FTSE 1 [...]

Market Commentary January 2013

31-01-2013

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. Since our last market commentary, in which we reverted to a neutral stance on the market [...]

Market Commentary December 2012

31-12-2012

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. Last month's market forecast was spot on with the market rising 0.9% following our posit [...]

Sell AstraZeneca / Buy GlaxoSmithKline

11-12-2012

Today, we are recommending our clients to sell AstraZeneca ("Astra") and switch into GlaxoSmithKline ("Glaxo"). AstraZeneca has had a good run as late, rising from 2792p to its current 3024p share price in just two months (a 8.3% gain). Though we originally switched from Glaxo into Astra, this ca [...]

Market Commentary November 2012

30-11-2012

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. Last month's market forecast was spot on with the market rising just 0.6% following our n [...]

Sell SSE / Buy Centrica

26-11-2012

Today, we are recommending our clients to sell SSE and switch into Centrica. SSE has had a good run as late, outperforming European utilities, and is now sitting on an expensive March 2014 12x earnings. Citi has just cut its price target to 1270p (current price is 1398p), which would see SSE trad [...]

Stobart Group Plc 5.5% 04/12/18

15-11-2012

National Transport Distribution company Stobart Group Ltd is issuing a six year sterling bond with a 5.5% coupon. Though the issue does not carry a credit rating, we feel this bond looks good value against the 3% and 4.5% GRYs offered by Go Ahead and FirstGroup around the same maturity. With the [...]

GAM's 25th Anniversary

13-11-2012

This year is a historic one for Gibraltar Asset Management Limited. After celebrating the 10th Anniversary of our membership of the London Stock Exchange in April, we now are celebrating the Firm’s 25th Anniversary. Twenty five years may not sound a lot to many but in this business, as you can [...]

Market Commentary October 2012

31-10-2012

Please find this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. Last month's market forecast was spot on ("we believe the markets will see increased vola [...]

Halfords - Sell

22-10-2012

Our Halfords recommendation has not performed as we would have liked, with an initial innocent-looking warehouse distribution problem being followed by a series of profit warnings. We are now recommending investors cut their losses following the tremendous 75% rise from the July low of 188p. This [...]

Daimler AG - Buy

05-10-2012

UBS has recently raised its 2012 S&P 500 price target to 1,525 on the belief that the near term liquidity-driven rally will continue. Over the short-run, they believe that pro-cyclical groups such as energy, materials, autos, homebuilders and diversified financials are likely to lead the market. [...]

Market Commentary September 2012

28-09-2012

Please find this month's Market Commentary newsletter, which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. In the newsletter, we highlight our preferred investments at this time. Last month's rec [...]

Market Commentary August 2012

31-08-2012

Please find this month's Market Commentary newsletter, which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. In the newsletter, we highlight our preferred investments at this time. Last month's rec [...]

CLS Holdings Plc 5.5% 31/12/2019

28-08-2012

Multinational property company CLS Holdings Plc is issuing a seven year sterling bond with a 5.5% coupon. Though the issue does not carry a rating, we feel this bond looks good value against the 1% offered by the benchmark Treasury gilt. With the general consensus forecasting a long period of low [...]

Sell Platinum / Buy Gold

15-08-2012

We are advising holders of platinum to switch out of the white metal and into gold. Oversupply Although QE3 is expected to take place in September, platinum's upside will be limited by high inventories. Whilst it is true that there is little downside potential given that its price is below the cos [...]

Market Commentary July 2012

31-07-2012

Please read this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. In the newsletter, we highlight our preferred investments at this time. Last month's reco [...]

Market Commentary June 2012

29-06-2012

Read this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. In the newsletter, we highlight our preferred investments at this time. Last month's recommendati [...]

General Accident 8 7/8% Preference Shares - Buy

19-06-2012

With base rates remaining stubbornly at 0.5%, income seekers are finding it hard to generate the kind of income they have grown accustomed to in recent years. However, for those prepared to widen their income-seeking horizon, there are attractive opportunities. A hybrid of an ordinary share and a [...]

Market Commentary May 2012

31-05-2012

Read this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. In the newsletter, we provide our view on the current state of the Eurozone and the possible futu [...]

GAM Joins the Twitter Community

23-05-2012

GAM is pleased to announce it is embracing the internet revolution by releasing its Twitter account at Gibraltar Asset Mgmt @GibAssetMgmt. Our people can also be followed on their GAM handles (DjamalAdibGAM, PaulBraileyGAM, IsabelDuqueGAM & MarkMaloneyGAM). The purpose of our Twitter account is to [...]

Market Commentary April 2012

30-04-2012

Read this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. In the newsletter, we explain why we believe the market will, in all likelihood, trade in a trend [...]

ETFX DAXglobal Gold Mining ETF

04-04-2012

Please read our complimentary research on what we believe could offer a potential 20% return this year, which is suitable for investors with a high risk tolerance. The price of gold bullion and gold mining shares has diverged to such an extent that we feel the gold miners are a 'buy' for the followi [...]

Market Commentary March 2012

30-03-2012

Read this month's Market Commentary newsletter which contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. In the newsletter, we explain why we have reverted to being cautiously bullish on the stock marke [...]

Provident Financial 7% 04/10/2017 - Buy

28-03-2012

Provident Financial Plc is issuing a new 5 1/2 year sterling bond with a 7% coupon, which will commence trading on the 4th of April, complimentary research attached. Rated BBB by Fitch, we feel this bond looks good value against the 1.1% offered by the benchmark Treasury gilt and the ~3% offered by [...]

Market Commentary February 2012

29-02-2012

Read this month's Market Commentary newsletter. This contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. In the newsletter, we explain why we have turned bearish on the stock market. However, on a botto [...]

iShares Emerging Markets Local Gov Bond ETF

17-02-2012

Emerging market bonds have been one of the best-performing asset classes over the last few years and for good reason. They offered exposure to high yields, strong underlying economies and a healthy diversification away from the Western debt crisis. However, we believe this story has further to run. [...]

Market Commentary January 2012

24-01-2012

Read our new Market Commentary newsletter. This contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. [...]

Dogs of the Dow 2012

06-01-2012

Read this year's stock selection from the Dogs of the Dow, a theory that uses yield and price to determine stock selection. The single stock selection, RSA Insurance Group Plc, turns out to be the same as last year. Despite the fact that the performance has not lived up to expectations (-16% compar [...]

Market Commentary December 2011

28-12-2011

Read our new Market Commentary newsletter. This contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. [...]

Reckitt Benckiser - Buy

18-11-2011

Please read our recommendation on Reckitt Benckiser, the world's largest producer of household products which include Vanish, Harpic, Cillit Bang, Air Wick and Dettol amongst others. This is a defensive stock that we feel is a core holding during the current economic environment. Trading on a pros [...]

STM Gibraltar Personal Pension

15-11-2011

A pension is one of the most effective ways to save money for your retirement, because you may be eligible for tax relief on your contributions. With this in mind, Gibraltar Asset Management is pleased to offer, in conjunction with STM Fidecs, the STM Gibraltar Personal Pension. This unique packa [...]

Market Commentary November 2011

11-11-2011

Read our new Market Commentary newsletter. This contains our view on the stock market based upon fundamental and technical analysis along with some recommended investments for the current market. [...]

National Grid I/L 1.25% 06/10/2021 - Buy

22-09-2011

National Grid will shortly launch an index-linked bond on the London Stock Exchange’s Order Book for Retail Bonds, a market set up to make bonds more transparent and accessible to investors (see attached complimentary research note). The bond matures on 6th October 2021 and will pay a 1.25% coupo [...]

FTSE 100 Options

15-07-2011

Please find the FTSE 100 options we are recommending this month. [...]

Aviva - Buy

12-07-2011

We feel the company has many catalysts that could see the share price rise substantially over the next twelve months. At just 415p, the stock is cheap trading on a forward P/E multiple of just 6.9x and at a substantial discount to its EEV of 487p per share. In the meantime, investors are rewarded wi [...]

Research Note - Tesco Personal Finance 5.2% 2018

08-07-2011

Please read our research note on the Tesco Personal Finance Plc 5.2% 24/08/18 bond. This issue has a GRY of 4.53% and ticks all the right boxes for retail investors - a good name, a low minimum size (£100), a straightforward "vanilla” structure and a good yield (the GRY of the benchmark Treasury [...]

HSBC Option

05-07-2011

HSBC is one of the world’s largest banks with high exposure to fast growing emerging markets such as Hong Kong, Asia Pacific and Latin America. The stock is supported by a good dividend yield of 4.1% and trades at a discount to rival Standard Chartered despite offering similar growth prospects. Mo [...]

Core Defensive Options

23-06-2011

Please find the core defensive options we are recommending this quarter. [...]

Cyclical Options

22-06-2011

Please find the cyclical options we are recommending this month. [...]

FTSE 100 Options

17-06-2011

Please find the FTSE 100 options we are recommending this month. [...]

A Guide to the Traded Options Market

06-06-2011

Please read our complimentary guide to the traded options market with some previous recommendations included. This is a highly specialised field, often out of the reach of retail investors. This guide focusses on GAM's approach to trading options. GAM has been trading options on behalf of clients o [...]

FTSE 100 Options

20-05-2011

Please find the FTSE 100 options we are recommending this month. [...]

Core Defensive - Pharmaceuticals

17-05-2011

With the market at its current level and entering the traditional lacklustre summer months, we are relatively cautious on shares in the short-term and are favouring defensive stocks in general given that: 1) their current outperformance is relatively modest; 2) seasonal trends come into play (defe [...]

Nationwide 7.971% (callable 13/03/15) PIB

09-05-2011

Please read our note on an A- rated Permanent Interest Bearing Security ("PIB") with a yield to call of 6.74% along with a guide to the PIBS market. Issued by Nationwide, the UK's largest building society with assets of circa £200bn, we recommend this to investors with a medium attitude to risk who [...]

Cyclical Options

18-04-2011

Please find the cyclical options we are recommending this month. [...]

FTSE 100 Options

15-04-2011

Please find the FTSE 100 options we are recommending this month. [...]

Asian Citrus

11-04-2011

Please read our complementary research on AIM listed Asian Citrus. Legendary investor Warren Buffett stresses the need to invest in simple businesses and it doesn’t come any simpler than growing oranges. Asian Citrus won "International Company of the Year" at the 2009 AIM awards by ticking all the [...]

The Daylight Saving Anomaly

25-03-2011

It may sound far stretched, but it is possible to make money from stock markets around the time of daylight changes. In the paper "Losing Sleep in the Market: The Daylight Saving Anomaly" by Kamstra, Kramer and Levi (2000), the stock market was found to produce larger falls the day after the dayligh [...]

Core Defensive Options

23-03-2011

Please find the core defensive options we are recommending this quarter. [...]

FTSE 100 Options

18-03-2011

Please find the FTSE 100 options we are recommending this month. [...]

Rockhopper Exploration

22-02-2011

Rockhopper Exploration (“RKH”) is an AIM listed company involved in the exploration of oil & gas in the Falkland Islands. The company has licences to explore in the North Falklands Basin where it has discovered oil at its 100% owned Sea Lion prospect. Goldman Sachs has just released a 640p PT [...]

Cyclical Options

21-02-2011

Please find the cyclical options we are recommending this month. [...]

FTSE 100 Options

18-02-2011

Please find the FTSE 100 options we are recommending this month. [...]

FTSE 100 Options

21-01-2011

Please find the FTSE 100 options we are recommending this month. [...]

GlaxoSmithKline

13-01-2011

GlaxoSmithKline is a core defensive holding, a global pharmaceutical giant that is diversifying away from blockbuster drugs into emerging market generics and consumer healthcare. The shares are cheap and are supported by a high dividend yield. For short-term traders, we are advising buying the [...]

Dogs of the Dow

05-01-2011

Please read a piece of research we have conducted on the well known “Dogs of the Dow” strategy. This has enjoyed a stellar performance since 1973 with an average annual return of 17.7%. Our recommendation from this year’s selection is RSA Insurance Group, currently trading on a sub 10x p/e rat [...]

Cyclical Options

20-12-2010

Please find the cyclical options we are recommending this month. [...]

Core Defensive Options

20-12-2010

Please find the core defensive options we are recommending this quarter. [...]

FTSE 100 Options

17-12-2010

Please find the FTSE 100 options we are recommending this month. [...]

FTSE 100 Options

19-11-2010

Please find the FTSE 100 options we are recommending this month. [...]

Cyclical Options

20-10-2010

Please find the cyclical options we are recommending this month. [...]

FTSE 100 Options

19-10-2010

Please find the FTSE 100 options we are recommending this month. [...]

Core Defensive Options

20-09-2010

Please find the core defensive options we are recommending this quarter. [...]

Cyclical Options

20-08-2010

Please find the cyclical options we are recommending this month. [...]

British American Tobacco

03-06-2010

Politically correct investors, look away now. Cigarettes are bad for your health, but if you’re a shareholder in British American Tobacco (“BAT”), they’ve certainly not been bad for your wallet. Investing in addiction is a proven way to make money, and a good way to do this is to buy shares [...]

White Metals

27-04-2010

While most investors are familiar with investing in gold and silver, there are other precious metals such as platinum and palladium that are less obvious but nevertheless just as valuable. Indeed research has shown that inclusion of these so called “white metals” can increase a portfolio’s per [...]

BG Group

23-02-2010

BG Group Plc, the UKs third largest energy giant after BP and Shell, is an attractive investment story on many levels. In Brazil, it has first mover advantage in the most exciting oil discovery for over forty years, the Santos Basin, which is estimated to contain at least 50 billion barrels of oi [...]

Silver

01-02-2010

Increasing demand from green technologies, falling supply due to underinvestment, the “consumption” of mined silver in industrial processes and a historically massive deviation from the average gold silver ratio all point to a rising silver price from its current level of $16.30/oz. In fact, [...]

Carillion

10-12-2009

Everyone considers Carillion to be a UK construction business – a sector far from being considered attractive in this economic climate. But the truth is that most of its profits now come from support services – a higher margin business that with it attracts a higher market rating. In fact much o [...]

Chesnara

18-11-2009

An anagram of Chesnara is “earn cash”, fitting for a company that offers one of the most generous dividend yields on the stock market – over 8%. Chesnara operates predominantly as a consolidator of life-insurance funds that are not seeking new business, and then runs them down in an orderly [...]

Tesco

30-10-2009

With a 30% share of the UK grocery market, investors could be forgiven for thinking that Tesco’s growth days are behind it. However, Tesco still has a strong long-term growth story to tell. Domestically the forthcoming launch of Tesco Bank looks like a canny move to capitalise on the current d [...]

Japan

16-10-2009

Following the large rise in the stock market over the last six months many markets are now pricing in a V shaped recovery, leaving little room for disappointment. Finding value has become a more difficult task. With international diversification increasingly important for the private investor, we h [...]

Vodafone

30-09-2009

Those struggling to find value after the recent rally should look no further than Vodafone, currently trading at 140p per share. A huge British success story - its market capitalisation is more than £74bn - Vodafone operates across the world and indeed the majority of group profits are earned o [...]

BAE Systems

02-09-2009

BAE Systems recent share price fall down towards its long term support level of 300p has presented a good buying opportunity for those investors not holding the stock. Much of the fall has been down to the pension scheme, which is in a large deficit. However, the “snapshot” measure required unde [...]

SSE

16-08-2009

Please find below some background information on one of our core holdings Scottish & Southern Energy, rated as a solid hold. The UK’s second largest energy supplier is currently yielding close to 6% (which management aims to grow by 4% p.a.) and is trading on 10.4x earnings, a substantial disc [...]

GlaxoSmithKline

21-07-2009

GlaxoSmithKline have yesterday announced their half year results, reporting robust gross margins and strong revenue growth across the portfolio, particularly in vaccines. GSK has taken 195m orders for its swine flu vaccine and is currently in talks with over 50 countries over stockpiling the drug [...]

Newsletter

15-07-2009

Please find this month's newsletter. [...]

Halfords

25-06-2009

Halfords currently yields over 5% and is trading on 10x earnings (a 30% discount to the sector), thus offering potential capital gains as well as income. It is a counter-cyclical company which will benefit from cost-conscious consumers cycling to work, taking more UK holidays this year and car owner [...]

Newsletter

12-05-2009

Please find this month's newsletter. [...]

Year ahead

06-01-2009

Please find an article on the year ahead that was published in the Gibraltar Chronicle this month. [...]

Article on preference shares

03-12-2008

Please find an article on preference shares that was published in the Gibraltar Chronicle this month. [...]

Article on gold

16-10-2008

Please find an article on gold that was published in the Gibraltar Chronicle this month. [...]

Article on oil

08-09-2008

Please find an article on oil that was published in the Gibraltar Chronicle this month. [...]