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Investment commentary from Bob Doll, Vice-Chairman and Chief Equity Strategist for Fundamental Equities at BlackRock

Date: 14 Jun 2010

Citywealth

After many weeks of market disappointments, equities managed to post significant gains last week, with the Dow Jones Industrial Average climbing 2.8% to 10,211, the S&P 500 Index advancing 2.5% to 1,092 and the Nasdaq Composite rising 1.1% to 2,244.

In general, we expect to see greater movement on the fiscal rather than the monetary front, since there is more work to be done on the former.

Over the next year, we expect economic growth will slow somewhat as stimulus is removed, but we are targeting real GDP advances of around 2% to 3%, thanks to continued low interest rates, improving employment, lean inventory levels and solid corporate profits.

Regarding the stock market, we believe equities have already priced in the likelihood of somewhat slower economic growth in the coming months.

We think volatility measures will remain high, and acknowledge that markets still remain subject to many risks, not the least of which is the high degree of uncertainty surrounding the European debt crisis.

Investors will need to remain patient, since it will still take some time before base-building can allow markets to regain ground.

Citywealth Magic Circle Award winners and runners up 2010

Citywealth Editor’s Choice Award
Winner – Lesley Lintott, Penningtons Solicitors

Private Bank of the Year
Winner – Rothschild
Runner Up – C. Hoare & Co

Private Banker of the Year
Winner – Paul Knox, JP Morgan Private Bank
Runner Up – James Penny, Barclays Wealth

Investment Management Company of the Year
Joint winners – Schroders and Jupiter Asset Management
Runner Up – Sarasin & Partners

Family Office of the Year
Winner – Sand Aire
Runner Up- Stonehage

Family Office Individual of the Year
Winner – Alex Scott, Sand Aire
Runner Up – Caroline Butler, Lord North Street

Law Firm of the Year
Winner – Farrer & Co
Runner Up – Macfarlanes

Lawyer of the Year
Winner – Martyn Gowar, McDermott Will & Emery
Runner Up – Clare Maurice, Maurice Turnor Gardner

Family/Matrimonial Team of the Year
Winner – Withers
Runner Up – Farrer & Co

International Law Firm of the Year
Winner – Withers
Runner Up – McDermott Will & Emery

Trust Company of the Year
Winner – Key Trust
Runner Up – RBC Wealth Management

Trustee of the Year
Winner – Andrew Penney, Rothschild Trust
Runner Up – Mike de Figueiredo, RBC Wealth Management

Accountancy Firm of the Year
Winner – KPMG
Runner Up – Saffery Champness

Accountant of the Year
Winner – David Kilshaw, KPMG
Runner Up – Paula Higgleton, Deloitte

Charity Advisor of the year
Winner – Bircham Dyson Bell
Runner Up – Farrer & Co

Charity Investment Manager of the Year
Winner – Schroders
Runner Up – Sarasin & Partners

Industry Newcomer of the Year
Winner – Maurice Turnor Gardner
Runner Up – McDermott Will & Emery

Citywealth Tomorrow Club – Emerging Manager of the Year
Winner – Edward Allen, Thurleigh Investment Management
Runner Up – James D’Aquino, Rooks Rider

Citywealth Tomorrow Club – Woman of the Year
Winner – Katie Price, Baker & McKenzie
Runner Up – Claire Murray, McDermott Will & Emery

Outstanding Individual of the Year
Winner – Piers Barclay, Macfarlanes
Runner Up – David Scott, Vestra Wealth

Lifetime Achievement Award
Winner – Richard Moyse, Boodle Hatfield
Runner Up – Richard Leonard, Dixon Wilson

Woman of the Year
Winner – Suzanne Reisman, Law Offices of Suzanne M. Reisman
Runner Up – Sally Tennant, Lombard Odier

https://www.citywealthmag.com/awards

Joe Bell
Citywealth
Tel: +44 (0)1483 526445
Email: jbell@j-p-c.tv

Karen Jones
Citywealth
Tel: +44 (0) 224 9565
Email: kjones@j-p-c.tv

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