Once again Argyle will be donating the money we would otherwise have spent on Christmas Cards to a worthwhile cause, the charity Children in Crisis.

2008 has been a difficult year for all of us, with many worrying events taking place across the globe. It is probably too soon to be confident that various measures announced by Government will kick start the economy… but there are at least some encouraging signs.

Argyle adopts a cautious approach to managing your portfolio and, relatively speaking, this has successfully limited the worst effects of the downturn experienced by some other investors. We prefer to keep fund switching to a minimum but, when we do send you a recommendation to switch specific funds, it is vital that you respond as quickly as possible.

Those clients who were prompt in accepting our recommended switch from Index Linked Gilts to Ordinary Gilts have already seen a worthwhile gain, at a time when every little helps!

We will be working even more closely with you during 2009 and attempting to ensure that we assist you in meeting your financial goals.

Meanwhile, everyone at Argyle would like to wish you and your loved ones a very Merry Christmas and a peaceful, prosperous New Year.