Money matters:
Graham Macdonald MBMG International Ltd.
Investment Portfolios - Part 2
The dictionary definition of an investment portfolio is: “An
aggregate of investments, such as stocks, bonds, real estate, arts or even fine
wines. What distinguishes an investment portfolio from net worth is that some
asset classes are not considered investments. This is usually because that will
not appreciate in value, or may even depreciate such as cars, televisions,
computer equipment, clothing etc.”
The majority of investment portfolios consist of common stocks in listed
companies and/or government or corporate bonds. These can be acquired directly
by an investor or a portfolio manager, acting on his/her behalf, who will select
individual stocks and shares for purchase. Alternatively, they can be held
through investment funds where the cost of employing an investment manager to
make these decisions is spread over a large number of investors buying units in
a ‘collective’ investment.
Bonds and shares/stocks represent just two of the investable asset classes that
are available - there are also three others:
Property - commercial or residential, whether owned directly or whether
syndicated (i.e. a group of investors combine to buy a single property) or
through the shares/stocks in a traded property company or through funds,
generally knows as Real Estate Investment Trusts - where a group of investors
combine to own a number of properties via collective investments. The main
effective differences between a property company and a REIT is that a REIT’s
value is based directly upon its net asset value and the income that it
generates is set aside as a yield. With a property company its share price is
determined by market supply and demand for its shares and rental income is a
receivable of the company with the company able to decide how much of its free
cash flow can be paid to shareholders as dividends.
Cash and Deposits - these can include overnight money market deposits, fixed
term deposits, Certificates of Deposit, promissory notes and short term bonds as
well as collective investments such as money market funds. These can also be
managed to generate currency gains as well as deposit interest.
Alternative Investments - this is basically everything not covered in the four
‘traditional’ asset classes - derivatives, such as futures and options,
commodities, hedge funds, etc. These can often be used in conjunction with
traditional assets as a source of added diversification.
It has long been our belief that if a financial institution, of whatever
description, designs a portfolio that does not look to exploit the investment
opportunities of all 5 asset classes then it is selling its investors short of
the potential that they could realize. This is what the majority of private
banking portfolios mentioned last week have failed to do. When you choose a new
car, would you randomly exclude 60-80% of the models available? If you insist on
constructing a portfolio from just one or two asset classes, and not all 5, that
is exactly what you’re doing. Also, as you can see from today’s graph, no single
asset class does well all the time, therefore it is vital to have free access to
all of the available options at any given time.
Five Asset Class Performance Since 1998
For some time now the MitonOptimal Core Diversified Portfolios have performed
exceptionally well because the fund managers recognise that 90% of return
derives from asset allocation, i.e. making the right big picture calls. Also, to
unlock the potential of all of these asset classes, a fund manager must take
both an active and a highly pragmatic approach to asset selection. MitonOptimal
believe that an investment should perform in absolute terms not just relative
terms. In their opinion, if something is not likely to outperform cash then they
should hold cash. This explains why, during the recent market dislocations, they
were up to 35% invested in cash and deposits within some of their portfolios.
All of this, in no small part, explains why MitonOptimal continue to garner an
impressive array of awards purely for the performance, especially the
risk-adjusted performance, of their core portfolios. From the MBMG perspective,
these core portfolios form around 50% of the holding of our clients’ portfolios.
While the actual proportion varies from client to client, we tend to regard
these as the bedrock for just about every client because they are, to varying
degrees, suitable for just about every client’s needs.
Whilst each client’s portfolio is individually designed to suit the specific
currency, liquidity, risk and security requirements of each individual client,
we couldn’t help but notice, some time ago, that the portfolios of the vast
majority of our clients have around 80% commonality with each other when
adjusted for currency bias - that is to say that 80% of the total portfolios of
most of our clients are broadly the same apart from than the currency aspect.
It’s only the other 20% that gives most portfolios their specific flavour. This
is not that surprising - most investors want reasonably similar levels of risk
and return and liquidity and, in many cases, personalising a portfolio really
involves tweaking our optimum portfolio to give it either less or more liquidity
and/or more or less risk in return for more or less return. Recognition of this
high level of commonality and overlap has created an opportunity for improved
administration and cost saving within a client’s portfolio.
By aggregating the common elements of client portfolios into a new fund, based
in Guernsey and regulated by the Guernsey FSC, this means that instead of
issuing a sell and a buy instruction in respect of say 1,000 clients every time
that we, when advised by MitonOptimal, wish to change the asset allocation
within a portfolio we would simply issue a single instruction instead of 1,000
instructions. Please remember that each buy and sell currently costs GBP 45/USD
85/EUR 66/AUD 112, so reducing from 1,000 instructions to just 1 reduces the
cost, in this example, from GBP45,000 to just GBP 45. That’s a saving of GBP
44.95 for each and every client each time that a buy and sell is transacted.
Pretty quickly, at this rate, significant savings can be achieved. Furthermore,
other economies of scale within the portfolio can result in additional savings
and certain institutional funds that might normally only be available in minimum
amounts of say US$1 - 5 million can now be bought through the new Guernsey fund
and the benefits enjoyed proportionately by all investors. The concept of the
Personalised Portfolio Bond wrapper is to allow all investors to access the very
best investment opportunities. To a large extent it does this although it
doesn’t allow access to those most exclusive funds with high investment minima.
This problem is now solved by the new approach.
These new funds, which are technically known as a Protected Cell Company, are
available in Sterling, Euro, US Dollar and Australian Dollar. It is worth noting
that the funds will be audited and that the weekly prices will be published
meaning even greater levels of accountability and transparency.
In short, the investment strategy and methodology should be little changed from
any highly successful private client portfolios - the historic performance of
these can be shown via monthly performance fact sheets - but the implementation
of this strategy should be more efficient, cost-effective and accountable.
For investors these new funds are a major step forwards as it combines the
expertise of companies like MitonOptimal with the personal service of a good
IFA. It also gives even greater institutional buying power and with reduced
costs thus allowing the client the potential to make more money without further
exposure to any greater risk.
One day, all investment portfolios will be managed like this...
The above data and research was compiled from sources believed to be
reliable. However, neither MBMG International Ltd nor its officers can accept
any liability for any errors or omissions in the above article nor bear any
responsibility for any losses achieved as a result of any actions taken or not
taken as a consequence of reading the above article. For more information please
contact Graham Macdonald on [email protected]
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Snap Shots:
by Harry Flashman
The hand-held exposure meter is now officially dead
The hand-held exposure meter is now officially dead. Those of
you hoarding your old light meter should take the batteries out,
clean it, place it in a cabinet with some silica gel, and make a
card with “Old fashioned light meter” written on it, and start
your own photographic museum.
Now the reason I say that is not because light meters are not
useful in photography - they are! However, the light meters
inside today’s cameras are so good, you don’t need to check them
with a bulky, hand-held piece of extra photographic equipment.
Sometimes technology can work in your favor.
Light
meters, both external and internal work on something called 18
percent grey. All photographers who want to understand
photography a little more should become acquainted with the
colour known as 18 percent grey. Why? Because after you
understand 18 percent grey, you have complete control over
blacks and whites in your photographs - and by that, I mean in
colour photography, not just the B&W kind.
The really dedicated photo buffs will recognize 18 percent grey
as being the cornerstone of the “Zone System” and Ansel Adams
superb prints are trotted out with sage mutterings that if you
understood the zone system, then your photos would look like his
too. This is, unfortunately, frog spawn. Ansel Adams spent many
hours painstakingly printing his B&W work, specifically burning
in some areas, holding back others and if you think he didn’t
then think again.
However,
here is the “short course” on the Zone System. What you have to
remember at all times is just the simple fact that the meter in
your camera knows intimately what is 18 percent grey, and is
programmed to produce as much 18 percent grey as possible. In
other words, point the camera at your subject and the meter will
work out a combination of shutter speed and aperture to give an
exposure to get the whole shot as close to 18 percent grey as
possible. This is irrespective of whatever name the camera
manufacturer gives to the metering system and how many points it
meters from. The common denominator is 18 percent grey, and that
comes from the settings your meter dictates.
Now this works for the majority of shots - 18 percent grey is
close enough, and the processor at your friendly photoshop can
adjust the rest from there - but it is always a compromise. You
do not even realise what a compromise it really is until you
take a photograph of a white car or a black cat, and see that it
has been printed grey.
This is one reason why I keep on saying that if you run the
camera in the fully A for automatic mode, you will only get A
for “average” pictures. What you have to do to get whites or
blacks is to run the camera in the metered manual mode instead.
Remember that when you are photographing the white car the
exposure indicated by the camera is the one that will make the
white colour 18 percent grey. To get the colour back to white it
will need more light on the film.
Here’s what you do. Let us imagine that your camera tells you
that the exposure should be f16 @ 1/60th of a second. You need
more light to fall on the emulsion, so make your exposure f 11 @
1/60th and another at f8 @ 1/60th. That gives you both one and
two full stops of light more. One of those two will give you a
white car.
Now when photographing a black object, the camera meter will
indicate a shutter speed and an aperture to give you another 18
percent grey object. There is too much light falling on the film
emulsion this time. What you have to do is cut down on the
amount of light getting into the camera. Again imagine that the
indicated exposure is f16 @ 1/60th. You want to darken things,
so take two shots with one at f16 @ 1/125th and another at f16 @
1/250th. Again this is one and two stops decrease in light
levels. One of these will give you a black car!
Simply - to produce white, give it more light. To produce black,
wind it back!
Modern Medicine:
by Dr. Iain Corness, Consultant
Check-ups - what do I need?
After writing about check-ups last week, I have had many
queries as to which particular package was indicated for the people
concerned. Unfortunately, asking “What package should I have,” is almost
like asking “How long is a piece of string?” However, there are some general
guidelines you should follow, and much depends on your age and your personal
and family medical histories. I shall try and unravel the piece of string
for you now.
If you are a non-smoker under 30 years of age, play sport every weekend,
train regularly during the week, have never visited a doctor other than
childhood immunizations and have both sets of grandparents alive and well,
then a very simple general check-up is all that is needed. You are not at
high risk, but it is good to have a baseline to compare against as you get
older, and congratulations on being a far-thinking person! For the Bangkok
Hospital Pattaya, the “Essential” check-up package will provide that good
baseline, and if everything is normal, then a repeat check every two years
will be fine.
If you are under 40 years of age, but by now have given up the regular
training and weekend sport, you are in a somewhat different situation
medically. Your ‘risk’ category is higher and now is the time to really look
at your cardiovascular system in particular. Lipid (blood fats) profile and
a check on your red and white cells and a blood sugar reading will indicate
most major future problem areas. If both sets of your grandparents are still
around to celebrate your birthday, and your check-ups have been normal, then
continue your biennial check-ups, but if the grandparents are dying off,
then step up the frequency of the checks to every year, and ask for the
Deluxe check-up package. There is also the personal question of sexual
history. If you have been in the habit of going to some of the pleasure
palaces specializing in horizontal recreations (and you know what I mean),
then you should add in an AIDS and Hepatitis screen as well. Relax, it is a
simple blood test!
By the time you are in the 40-50 age bracket, physical wear and tear has
become evident. You are also looking very intently at whether you have
become “at risk” from the cardiac point of view. Now is the time you should
be looking at exercise stress tests and vascular screening (called the ABI
or Ankle Brachial Index). This is in the Superior package. Now is also the
time that you have to apply yourself to correct any lifestyle factors which
are going against your general health. Now! Before it is too late. And, by
the way, if you are female then you should throw a Thin Preparation Pap
Smear into the annual equation as well.
But it gets worse! When you pass the magic 50 number, you have reached the
age where you really have to be watchful. From your age factor, if nothing
else, you are considered to be ‘at risk’. If you have become overweight,
smoke cigarettes and get no exercise, then you have a much greater risk! It
is the Superior package again, but if you are a male, then you should add in
your prostate cancer screen, the PSA blood test (as well as the others such
as AIDS/Hepatitis if you are still indulging in nocturnal horizontals).
By the time you pass 60, then it might even be prudent to look at the
Premier check-up package. This checks everything from head to toe. Really!
It even includes a foot massage! It is commensurately more expensive, and
even requires you to spend some time in the hospital ward, but if you are
having some doubts about your health, then it might be worth the indulgence.
Please remember that these recommendations are very general. If you have
been having some symptoms of disease, or have a poor family history, then it
is worthwhile discussing these with the doctor before deciding which
check-up package and add-ons you should have. The important factor is to get
into the habit of regular checks. Your family will thank you.
Heart to Heart with Hillary
Dear Hillary,
Your column can easily be enlarged to monster size at the expense of that
corny old consultant. Who wants to read about the ins and outs of sundry
organs when you can give us a detailed analysis of the perishibility factors
relating to heavy-duty knicker elastic. I rest my case and Pater rests his
splod. Let us have an unexpurgated Aunty and not an Aunty caught short
willy-nilly!
Mistersingha
Dear Mistersingha,
Talk about the prodigal returning! Just when I thought you had pulled out
your paddle and had paddled off to different climes, here you are bobbing up
again, as large as life and twice as lively! I shall pretend to ignore the
fact that the chocolates and bubbly are still owing, even though everyone
will see through the pretence.
Now, as far as usurping the space put aside for other columnists writing for
this paper is concerned, there is no way I would such a thing. There is a
code of ethics in journalism, which you would not have realized, since
‘ethics’ does not feature in your life, or vocabulary, I am sure. However,
please do not let me stand in the way of your scientific breakthrough
regarding knicker elastic. And thank you for worrying as to whether I have
been “caught short willy-nilly”. This does not happen as willies do not come
into my equation.
Dear Hillary,
Thank you for brightening up everyone’s days. Yours is the first page of the
paper that I open every week, just to kick start a good weekend. I do have a
question. Do you know how to erase porn off your computer? I use a work comp
and don’t want the IT department to see that I do the occasional trawl
around some of the more raunchy web sites. Any ideas, Petal?
Porno Pete
Dear Porno Pete,
Don’t “Petal” me, young Pete with the excess hormones, but thank you for the
nice words. Keeps this old crone going, really. Now, when you ask about “any
ideas”, do you mean do I know any more web sites for you to drop your line
in and go trawling, or how to furtively look for the salacious sites without
being discovered? You can always erect a screen around the monitor, I
suppose. Or there is the other alternative. You could do a proper day’s
work, instead of ‘trawling’, so you would have nothing to worry about. Leave
trawling to the fishermen, I say, they have a hard enough time of it
already.
Dear Hillary,
I suppose you’ve been asked before, but I’ll do it again then. Who writes
all these dopey letters? Do you, or are their (sic) people at the Pattaya
Mail that do it for you. I can’t believe the numbers.
Bacchus
Dear Bacchus,
Have you ever heard of your namesake, the abacchus (usually spelt abacus)?
Once you know how to work one of those, you can really begin to “believe the
numbers”. But for the record, all kinds of dopey people write in with their
“dopey letters”, and you can add yourself to that list! Satisfied now? You
might also spend a little while learning the difference between “their” and
“there”.
Dear Hillary,
My husband’s mother and father are coming out for a holiday next month. This
will be their first trip to Thailand and I am wondering where we should take
them. They are both in their 60’s, so we must be careful of the venue.
Monique
Dear Monique,
What have you to be careful of, my Petal? Will Pa-in-law become an
aggressive drunk and molest the waitress, or Ma-in-law shoulder the girls
out of the way at the chrome pole paradise? Honestly, what is the world
coming to? Stop worrying! Pattaya has more amazing things to do and go to
than just about anywhere in the world. You should put the following on the
agenda, one of the lavish on stage transvestite shows such as Tiffany’s, a
visit to some of the restaurants out over the water on Walking Street like
King Sea Food, take them to the tourist entertainment outlets like Nong
Nooch gardens, zoos and other similar venues, enjoy relaxed BBQ’s with music
at the Captain’s Corner for example, a bit of Elvis on Thursday and Fridays
at Jomtien Boathouse, food and dancing at the Hard Rock Cafe and even take
them to a go-go bar. After all, they are here and someone will ask them on
their return what they were like. Grab one of the “bar hopping” guides which
will show you the kinds of places you might like to take the in-laws. Relax
and enjoy their being here. They’re old enough to tell you what they want
anyway!
Dear Hillary,
I think your advice is daft. What right have you got to tell people what to
do? Why don’t you go back to your dog-house or wherever you came from?
Frank
Dear Frank,
To be perfectly frank, which I’m not since I’m a Hillary, I have as much
right as you have, my Petal. And, since you are the one with a bone to pick,
perhaps it is you that should be living in the kennel? Woof! Woof!
A Female Perspective: with
Sharona Watson
Never say “never again”
I would like to dedicate this week’s column to somebody who wrote me a
beautiful hand written letter recently; she didn’t give any email address or
phone number but her letter was very gentle and lovely and very personal.
Edith is having a tough time and I just want to let you know, Edith, that
I’m right there with you. Thank you very much for sharing your thoughts with
me; I empathise and sympathise. Upon reading this week’s ‘female
perspective’ Edith, I hope you’ll be able to do the same for me.
Thank
you for reading.
For a year now I’ve been writing for people just like you and me; for women
in general and for those of us living in this beautiful but sometimes
perplexing country, in particular. But all good things must come to an end
and I’ve decided to take a break from the column for now. Quite honestly, I
am a bit overwhelmed by the response and I never thought it would take up so
much of my time. But it does, and now all those things that I put off until
tomorrow are covered in dust on shelves all around my house. Tomorrow has
finally arrived and I can’t put off my housekeeping any longer.
Sometimes I wonder where all the time goes but it’s certainly gone. It’s
always difficult leaving something you love doing but you have to be brave
and read the signs. Get out whilst the going’s good; retire at the top. The
last thing I would ever want to do is drag on like some tired old bag. Oh
dear, oh dear, I’ve seen that happen to others before. They stay in the job
too long and miss out on the time to move on and then become deluded that
the job needs them more than they need the job; even if they’re useless at
the job in the first place! You can never let ego get in the way. The
thought of becoming bitter, twisted and rancid is hellish. Just keep your
dignity and self-respect and move quietly on.
I should let you into a bit of a secret. The column takes me quite a long
time to write. English is my second language and so I have to think very
carefully about the vocabulary and the sentences. I would have liked my
husband to help me a bit more but he always claims to be ‘too busy’. I must
say, I never quite understood how ‘drinking beer’ can also mean ‘busy’. I
suspect that he’s jealous that I get more mail than he does for his column,
although he would never admit it. I’m lucky to have a daughter who is
incredibly well-read and extremely literate who sometimes proof reads my
work and edits it when necessary. It was quite funny when I wrote about her;
I’m sure she would have preferred to delete the whole thing but she didn’t.
She knows how much writing has meant to me.
I hope that you, the readers, have found the column entertaining and maybe
even on occasions, informative. In the world we live in, which is absolutely
dominated by men, I think it is so important to make sure that everybody has
a voice. I can only hope that in some small way, females out there have felt
represented. Just look around the globe at all the wars and conflict and see
who’s in charge - men. It’s all aggression and macho stuff from them. Think
about it - it’s unbelievable. Today there are only twenty two females
actually running countries. That includes three Queens, who have to answer
to a parliament and a couple of presidents who were unelected. I always get
the impression that men are only too keen to put a female in ceremonial
roles, just as long as they don’t have any ‘real’ power.
It is clearly twice as hard for a woman to be elected or even get to the
stage where she can get elected. But look at organisations or countries
which are run by women, like Helen Clark in New Zealand and you’ll see a
country which cares about things that really matter. Not guns and war and
money but the environment, education, health and peace. It’s as if men never
got out of the habit of playing with toy guns when they were young and women
are still sugar and spice and all things nice! I still can’t believe that
parents give toy guns to their kids. I mean, they were only invented to do
one thing. Don’t fathers think about that?
Unfortunately, there are always a few women who men will point out as
examples to prove me wrong. Thatcher was a bit of a war-mongerer and I’m
afraid that Golda Meir didn’t seem to mind a fight. Granted, there are those
who give females a bad name but they’re mostly all gone now which is a real
bonus; eaten up by their own greed, I suppose. But people like this are
exceptions. Look at most work places where women are in the majority and
you’ll see a place which is mostly harmonious. There’s a school in Bangkok
like that; KIS (Kesinee) international school is run almost entirely by
women and it’s just about the best school I’ve ever seen in my whole life.
They just got a guy in at senior level for the first time this year. Good
luck to him!
I’m sorry, but I’m getting a bit emotional now, because it’s time to say
‘goodbye’. I would like to thank some very special friends; Chandra, Kylie,
Anne Gabarre, Ivonne, Julie, Emily, Lucia, Christine, Marianne, Oshrit,
Dganit and Revital, Yael Rubinstein and of course you, Edith. Thank you also
to all of you who have contributed in some way to the column. To Dan the
editor and Peter Malhotra, who has done so much for our entire family (he is
like a big brother to us) thank you for all your support, friendship and
love. Thank you a thousand times. Happily, it is not so much ‘Adieu’ as ‘Au
revoir’; I am sure I will be unable to resist writing occasionally and
whilst this column will cease, at least I learned one thing from my husband;
never say “never again”. Thank you for reading.
[email protected]
Learn to Live to Learn
by Andrew Watson
In safe hands
Richard Hayward is easy company. Self assured, tremendously well
presented, he demonstrates one skill in particular which sadly, appears
all too rare these days; he is a first class ‘listener’. He’s nobody’s
fool too and in the six months since he took the reigns at Garden
International School (GIS) he has brought experience, education and
integrity to the position. As a peripatetic person with an impressive CV
that includes the British Army, Cambridge University and International
Rugby, the cap of leadership fits very snugly indeed.
Richard taught at the Oratory school in Oxfordshire, a boy’s public
school; Tony Blair sent his kids to the Brompton branch of the same
Catholic foundation. Did he enjoy teaching there? With evident
enthusiasm he responds, “Yes! It was lovely countryside and great fun.
It’s a boarding school so there was no going home at 5 o’clock! You can
get so much done!” He cherished, “getting teams out on Saturdays” and
was clearly devoted to the job. He also has fond memories of Kenya,
where he worked for three years in a school run by Christina Kenyatta.
For Richard, Kenya “was a bit like going back” - he’d also lived there
as a boy.
I wonder what effect the army had on his attitudes towards education and
how to run a school? “Well, you have to be ultra-organised in the army
and then in certain respects, you do lay down procedures - and look at
them again if they don’t work. Then there’s self discipline. If you
don’t have self-discipline in the army you get locked up. The army
taught me to be very confident and to see something through right to the
end. You can’t just do your own thing. Most of all, it taught me to be a
leader, I suppose. Management skills I’ve probably picked up since then.
In the army you have to follow what’s expected, whereas in a school, you
have to make it work.”
University in Surrey and a first degree in Mathematics was followed by
what was clearly for Richard (his eyes twinkle as he recalls) the
highlight of his own personal educational journey - Cambridge. “It was
nice meeting common minded people, really. There are a lot of hard
working people around there; people who have striven hard to get there.
I felt extremely proud to be there and it was something that was very
challenging for me.” Absolutely, I felt the same. There’s no place quite
like Cambridge, where love of learning resonates from the hearts and
minds of its student body. Richard’s Masters is in Education Management;
more or less a pre-requisite for leading a school nowadays and he is
grateful for the experience; “I learned a lot and I keep drawing on it.”
To be honest, I hadn’t considered observing this admittedly well built,
bespectacled yet in some ways diminutive gentlemen, that sport would
have featured so prominently in his life, so I was surprised and
delighted to discover that he played at national level for Kenya at
Rugby twice, once in Manila and once in the World Cup against Namibia.
Fantastic! “Ah, yes” I mused, reappraising Richard’s stature, “A fly
half or hooker?” Indeed. So he must be quite nippy then? “Not any more!”
he laughs, “But I miss sport; I just don’t have any time to play
anymore.”
What about music? Fobissea must have inspired him? “I tried to learn
piano and drums when I was younger but we kept moving to new countries;
it was difficult,” he admits with a tinge of regret. “And I’m a terrible
singer,” he confesses, pre-empting my next question. Nonetheless, he
professes an eclectic love for music. Unsurprisingly, for someone
married to a Filipino, he loves Latino. I have to concur, there’s
nowhere quite like Manila to ‘get down’. However, as many have found
before him, he feels his dancing will never be quite as wonderfully
natural as his wife’s.
Our conversation moves lyrically on to opera; Richard loves it and then,
as he claims an affinity for contemporary ‘chart music’ I rather
sneakily throw in the term, ‘Black IPs’. But fair dos, he knows who they
are. Perhaps I shouldn’t be surprised; after all he’s been around more
than a bit. I wonder whether the strong international favour that has
characterised his life is something he consciously applies to leading an
international school? Or is Garden rigorously adherent to a British or
English system? He seems a little bit affronted by the suggestion,
“We’re a bit more organic than that! We try and fit the models of the
children … we are truly international.” He uses first languages as an
example, “We’re not like other schools where 90% of students might be
native English speakers. Only about 20% of our kids are first language
English speakers. Yet, over four or five years they develop their
English fluency and come out with excellent results. Language is an open
door to another world.”
Is there more to education than examination results? “There’s more to
life than examination results!” Richard insists, “We want to play
sports, put on music festivals and celebrate what it means to be
international.” He’s asking a great deal of his teachers then? He nods
in agreement, “All the teachers work little miracles here - they have to
be flexible, they have to work very hard and sometimes it’s not easy.
Being an international school teacher - it’s not an easy job, really.
It’s not like a holiday!” Granted, although I’ve seen plenty who seem to
think it is. What does he look for in a teacher? His response is
immediate; “I look to see if they’re passionate about their teaching.
Coming to Thailand is secondary.” But he must ask why they want to come
to Thailand? “Yes, we do. They usually tell us something about the
beauty of the place. Of course, we have to be very careful about whom we
recruit. Everyone takes education very seriously here.”
To end, a big question, about that ‘vision’ thing, which Richard has in
abundance. Where will GIS be in five years from now? “I think obviously
it’s going to get bigger. I hope the examination results will improve
and I hope that the reputation will continue to grow. We want to keep
GIS affordable but increase our already ample resources. We try
extremely hard to accommodate all the children - all the children that
come here deserve a good education and we try and tailor our education
to meet their needs; we’ve created different programmes for everybody
really. We’ve always been family oriented and open to the community. The
children are happy, laughing and running around. We’re developing all
the time so within the next three years in terms of numbers, we hope to
have separate junior and senior schools with a total of up to eight
hundred students. In terms of philosophy, every school should follow its
mission statement and everything else should flow from it.”
Richard Hayward is a man you feel instinctively you can trust
implicitly. He is also quite clearly a man in control of his own
destiny. I leave with the distinct impression that GIS couldn’t be in
better, safer, more reliable hands.
Next week: Webster’s – not just a dictionary
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