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Our fund managers’ most useful tool No. 9: A shared cup of tea
Over the past year, we personally interviewed the management of over 1,500 companies throughout Asia.
Aberdeen’s Asian Investment Trusts Stocks and Shares ISA and Share Plan There’s nothing like being able to judge for yourself. For us, we won’t add a company to our portfolios without first holding a personal interview with its management and even when we do invest, we aim to revisit our investments once a year. We manage seven investment companies investing in Asia that are available through an ISA or Share Plan: • Aberdeen All Asia Investment Trust • Aberdeen Asian Income Fund • Aberdeen Asian Smaller Companies Investment Trust • Aberdeen New Dawn Investment Trust • Aberdeen New Thai Investment Trust • Edinburgh Dragon Trust • New India Investment Trust You can invest in these trusts from £100 per month or £1,000 lump sum. We offer daily dealings for lump sum investments.
Do remember that the value of shares and the income from them can go down as well as up. You may not get back the amount invested. No recommendation is made, positive or otherwise, regarding the ISA and Share Plan. The value of tax benefits depends on individual circumstances and the favourable tax treatment for ISAs may not be maintained. If you have any doubts about the suitability of any investment for your needs, please consult an independent financial adviser. Request a brochure: 0500 00 40 00 www.invtrusts.co.uk
Issued by Aberdeen Asset Managers Limited, 10 Queen’s Terrace, Aberdeen AB10 1YG, which is authorised and regulated by the Financial Services Authority in the UK. Telephone calls may be recorded.
Please quote A PM 02 Contents
This month 6 If I ruled the world chris patten 8 Recommends 10 Diary 12 Letters
14 Cameron: unlucky but right pier carlo padoan 15 Obama the Republican james kwak 16 Cairo farce wendell steavenson plus stephen collins’s cartoon strip. 18 Cutting Whitehall peter riddell 19 Mexico’s lost war on drugs luis rubio 19 Burma gold rush joshua kurlantzick 20 China diary mark kitto
Features 26 From Faust to Frankenstein market for everything. rowan williams 32 What Dave has done
What is the point of the coalition? philip collins 35 Cameron’s immigration problem peter kellner 36 Europe’s star? Poland has dodged the crisis.
sam knight 40 A strategic own goal? We have helped Iran rise.
robert fry 44 LBJ: from understudy to giant Robert Caro’s presidential epic.
Politics: interview 22 I’m Labour’s biggest critic d Miliband warns against complacency. james macintyre
Life 56 A moveable feast
New vegetarianism. william skidelsky 57 Leith on life ge of trolls. sam leith 58 Volcanic impulses
In search of eruptions. gillian darley 60 Wine Do you have taste? barry smith
50 Playboy goes west great title heads into the sunset? rachel shteir
Report: emerging markets 63 China’s crash? george magnus 66 Brazil’s fragile success jim o’neill 68 China’s neighbours caroline shaw 70 Tapping into growth andy davis
Science & technology 72 One universe among many?
ur Big Bang might not be unique. martin rees 74 The month ahead anjana ahuja
Arts & books 76 America’s new literary generation
Jonathan Franzen versus Helen DeWitt. richard beck 79 For my next trick he new art of magic. laura marsh 82 Modern magus obert Wilson’s eccentric genius. james woodall 84 Stealing the show ovies on stage are rubbish. david benedict 86 The month in books kathryn hughes
Fiction 88 Debi mariam bekauri
Endgames 90 The Prospect List 94 The generalist didymus 94 Enigmas & puzzles ian stewart 96 The way we were xams. ian irvine may 2012 · prospect · 5