The inaugural debate of the newly-formed Centre for Finance & Investment (CFI) considered 'Prospects for UK inflation and implications for investment markets' and was attended by around 40 finance and investment practitioners, as well as academics and students. It took place in October 2010.
Chaired by Dr Adams, the debate examined the prospects for UK inflation and implications for investment markets. First, Ian Harwood, Chief Economist at Evolution Securities, argued that UK inflation will not be a problem in the medium term.
Russell Napier, a Director of Scottish Investment Trust, then argued that inflation will be a problem. Robin Angus, Executive Director of Personal Assets Trust and William Dining, European Head of Strategy and Economics at AEGON Asset Management, replied for each side.
Prior to the debate the audience was asked the following question: 'Do you believe that UK inflation, as measured by the CPI, will be above 5% in three years from now?' Thirty-nine members of the audience voted yes before the debate, but when the same question was asked again at the end of the debate, forty-six voted yes. Russell Napier and Robin Angus were therefore declared the winners.
Over 120 people attended the debate including practitioners from the Edinburgh financial community, academics and postgraduate students. Dr Adams said: 'It is great to see such a large turnout for the CFI's inaugural debate. The CFI aims to develop the relationship between academia and the financial community to increase the two-way exchange of knowledge and thereby enhance teaching, research and practice. The inaugural debate has been an excellent start.'
Angus Tod, Divisional Director with investment managers Brewin Dolphin, said: 'It was most encouraging in these difficult times to attend a new annual event which was so successful and informative. I look forward to next year’s debate.'