Investment experts from Thomas Miller Investment (TMI) delivered the latest in a series of Investment Seminars to an audience of over 75 guests at the Sefton Hotel in Douglas on the 19th May 2011. Mike Balfour, CEO of TMI welcomed guests and introduced the speakers who were Abi Oladimeji, Investment Strategist for Thomas Miller Investment Ltd, David Thomas, Investment Director for Thomas Miller Investment (Isle of Man) Limited and Carolyn Gelling, Senior Portfolio Manager for Thomas Miller Investment (Isle of Man) Limited. Mr Oladimeji discussed the economic outlook for the US and the UK. He noted that the pace of economic growth in the US would be dampened by sluggish recovery in both the housing and the labour markets. Turning to the UK economy, Mr Oladimeji stated that despite rising inflation, the outlook for monetary policy must be considered within the broader context of weakening economic fundamentals. On that basis, he concluded that market expectations of rate hikes in the UK are likely to continue to be pushed further out On the outlook for the financial markets, Mr Oladimeji said that equity markets remain susceptible to shocks in the short term but TMI expect equities to out-perform government bonds on risk adjusted basis over the medium term investment horizon. Mr Thomas talked about Bull and Bear markets and what these represent, highlighting a number of examples from the past 30 years. Mr Thomas emphasised that extreme unforeseen events can have a short term impact on the market but primary trend’s will often then re-assert. He supported Mr Oladimeji’s view by demonstrating that there is still an up-trend in equities and commodities but also remarked that it is currently undergoing correction. Providing the third presentation of the seminar, Mrs Gelling discussed the role of Risk Management in Portfolio Management. Mrs Gelling highlighted the key areas of risk that exist within investment and provided an overview of the methods that TMI employ to manage and control those same risks. Mike Balfour was delighted to host the Seminar and thanked guests for their attendance. He said that ” At TMI we place a great emphasis on maintaining regular communication with all of our clients and business partners and it is always a pleasure to meet new individuals and to share with our associates, both old and new, our views on the economic climate, market outlook and key investment themes.” ENDS