Despite starting 2010 with some extremely inclement weather, we are pleased to report that your portfolio looks considerably healthier than this time a year ago! International stock markets have been broadly buoyant in recent months, although banks (and more particularly bankers' pay packets) remain headline news.

However, we believe the next twelve months will be just as volatile as 2009, at least until a new Government is elected and viable plans for tackling the national debt are in place. Argyle will therefore continue managing your portfolio with considerable caution!

Looking back on last year in closer detail, we are pleased to report that your investments have once again outperformed the FTSE 100 - which is the main index used to measure share performance for the UK's top 100 companies. Interestingly this out-performance was achieved whilst having only half of your funds in equities, the balance having been directed into Gilts and other forms of Fixed Interest.

If you are over 50 years of age, can we remind you that your annual ISA allowance is now increased to £10,200. However, you only have two more months in which to use that allowance (for 09/10 tax year) before it is lost forever.

The months ahead will see our website being rebuilt with the specific intention of providing more extensive information on financial matters and how they affect you. We will include video interviews with Fund Managers who actively manage your money and a series of articles about the various geographic and industrial sectors into which your money is predominantly invested.

If there are any particular suggestions which you have for the website, we would be very interested to hear them. A £25 M&S voucher will be sent to the person who submits the best idea which is taken up.

Remember, wherever you live in the UK you can now contact us (for all matters) on:

0845 604 6285

We look forward to speaking with many of you during the coming year and please do not hesitate to contact us if there is any specific matter which you would like to discuss.