Any views and opinions expressed are solely those of the individuals and are subject to change. Where individual securities are mentioned they do not necessarily represent a specific portfolio holding and do not constitute a recommendation to purchase or sell. Please be aware that past performance is not indicative of future performance. The value of an investment may fall as well as rise and you may get back less than you invested. Returns on equities cannot be guaranteed. Equities do not provide the security of capital characteristic of a deposit with a bank or building society.