Volatility was the theme of our January Newsletter and as we begin the second half of 2008 volatility continues to dominate the investment world.

The year so far has brought extraordinary economic problems ranging through the credit crunch and its impact on property prices, a dramatic increase in the price of oil and food and a general sense of instability in World affairs. Inflation seems to be again on the horizon and threatening the purchasing power of our money.

We have no magic answer to these global problems but as ever our focus remains on picking the best possible funds for your portfolio. We will maintain our ongoing investment fund process but your own portfolio will now be reviewed on more frequent basis outside of your annual review to ensure that it is properly balanced against our fund panel and the prevailing economic conditions. We will be contacting you to tell you how this will be done and what we would like you to do to ensure that the whole investment process is made as effective as possible.

Our website (www.argylefinancialgroup.co.uk) has new articles on the effects of inflation, volatility and the cost of living which we hope will give you a better understanding of these subjects.

Sadly as we all know the news media seem to only present us with bad news and this can at times be quite depressing. If you feel that you would like to have a chat about your finances and get some reassurance please get in touch at any time.

Incidentally, as if the banks have not done enough damage to our lives with their almost criminal abuse of the international monetary system, we have just learned that Lloyds TSB Bank has been issuing debit cards to children of just 11 years of age without their parent’s consent. These cards have already been used by children to buy alcohol etc. As you know Argyle has just launched its www.understandingmyfinance.co.uk initiative to try and help youngsters to understand money and it seems we were not a moment too soon.