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January 2009
03
I nves tme nt
I NTE RNATI ONAL
Comment
Contents
Jonathan Ball, editor
4 News
7 Jurisdiction on Jersey
L
ast year was certainly an annus horribilis for most investors – but
what’s in store for 2009? The speed at which the economy plunged
The events of
Jersey provides a relative into a deepening recession, following a decade of growth and pros-
the past year
oasis of calm in these perity, was truly frightening. This does not mean, however, that we can
turbulent times
look forward to a rapid recovery. The events of the past year are unprece-
are unprece-
10 A vintage investment dented and it is simply not realistic to expect the investment sector to
vehicle resume ‘normal operations’ quickly.
dented and it
Wine is increasingly seen
Capital Economics has forecast that 2009 will be the worst year since
as an attractive, alternative
1947, when the country experienced a bitterly cold winter. Does that
is simply not
option
sound familiar?
15 Opportunity knocks
realistic to
The global economic meltdown has impacted negatively on stockmar-
abroad
kets worldwide, with the FTSE 100 index experiencing the worst year expect the
Simon Smallwood of
ever. And with the recession expected to last for at least 12 months, it is
International Private
difficult to be optimistic about any sector or country during the coming
investment
Finance looks at how the
mortgage market has
year.
Amidst the general doom and gloom, one group of people have tend-
sector to
helped create significant
investment opportunities
ed to be forgotten. They are those who were once the subject of envy –
resume ‘normal
17 Fundamental review or
the golden generation who retired to Europe on the back of the huge
Whitehall sabre-rattling?
leap in UK property prices, secure in the knowledge that their pensions operations’
Jonathan Ball analyses the
would be more than adequate to provide for their old age.
‘war of words’ between HM
The collapse of the pound has dramatically altered the situation. At its
quickly
Treasury and the Isle of peak in May 2000 £1 was worth ¤1.75. Even in January 2007, the pound
Man government was trading at a healthy ¤1.50. The pound’s slide, with sterling currently
21 Opportunities in Northern
hovering around parity with the euro, has spelt financial disaster for tens
Cyprus of thousands of retired expats. The food, wine, countryside, lifestyle and
A largely overlooked island healthcare that France offers still prove appealing, but there has been an
has great potential.
inevitable curtailment of many activities once taken for granted.
Jonathan Ball explains
But it is probably those in Spain who are truly suffering. The down-
25 Broadening the appeal of
turn in Spanish property prices has left many retired expats in negative
offshore bonds
equity, and at a time in their lives when the opportunities for work are
Still shrouded by mystery
limited.
in the eyes of many
advisers. The Hartford’s
But, I here you say, there must be a silver lining somewhere in all this?
Andy Marks outlines the
Indeed there is. A recession cannot, by definition, last for ever, and by the
issues
beginning of 2010 optimism should begin to slowly return to economies
27 International Healthcare
worldwide. But we are in for a truly horrible year.
Graham Thompson of à la
carte healthcare charts a
path through the
complexity of rules and
Issue 221
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January 2009
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29 The Stop Tax Haven Abuse
Editor
entering into any transactions. Any views or opinions I NTE RNATI ONAL
expressed in this magazine are solely those of the author
Bill
Jonathan Ball, 0207 490 0739
and do not necessarily represent those of The Publishing
Jonathan@thepublishinggroup.co.uk
Group Ltd.
What will Obama do?
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Jersey lawyer Stephen Ramesh Sharma, 0207 490 0719
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Platt assesses the possible
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Comment and analysis
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www.investmentinternationalr.com January 2009 Investment International
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