Archived articles from Fuerteventura's popular English Language Newspaper
 
 
ARCHIVE OCT /NOV 2007
 
 
The “Apañadas” of Puerto del Rosario

It is difficult to imagine Fuerteventura without its population of goats roaming freely on the hillsides of what is one of the flattest islands of the archipelago.

The dry, barren landscape of the island is home to around 90,000 goats many of which are allowed to graze the hillsides of the island apparently without any control, but the practice of letting the animals roam free dates back centuries and is in fact very much controlled by the Island Agricultural Department. The typical goats which from part of the herds on the island produce between three and four litres of milk every day and the freed goats, known as “cabras de costa”, are goats which have been set loose by their owners since they are considered as being of no practical use at the time as far as milk production and breeding are concerned and the fact that they can graze freely reduces costs for the goatherd. The majority of the freed goats are male.

The island is divided into different areas for the control of the goats with each area being allocated a supervisor.

Once a year the goatherds of each region come together to reclaim their goats.

The animals are ushered; using special supple poles made from tarajal wood, into a large circular area surrounded by a traditional stonewall known as “gambuesas” to be divided into groups.

Although each one is marked with the sign of its owner at the time of release at the time of the “apañada” or gathering of the goats any new borns are also marked and the goatherds also select any older animals to be killed for their meat.

The “apañadas” as well as being the traditional way of returning the free roaming goats of the island to their rightful owner albeit for a short time are an excellent cause for a fiesta since all the goatherds come together for the occasion and food, carne de cabra (of course) and wine is a plenty. Such was the case at the end of September in Puerto del Rosario.

Mobile Phones Not A Health Hazard

Mobile phones have not been found to be associated with any biological or adverse health effects according to the UK 's largest investigation into the possible health risks from mobile telephone technology. The Mobile Telecommunications and Health Research (MTHR) Programme has published their conclusions as part of its 2007 Report.

The six year research programme has found no association between short term mobile phone use and brain cancer. Studies on volunteers also showed no evidence that brain function was affected by mobile phone signals or the signals used by the emergency services (TETRA). The MTHR programme management committee believes there is no need to support further work in this area.

The research programme also included the largest and most robust studies of electrical hypersensitivity undertaken anywhere in the world. These studies have found no evidence that the unpleasant symptoms experienced by sufferers are the result of exposure to signals from mobile phones or base stations.

The situation for longer term exposure is less clear as studies have so far only included a limited number of participants who have used their phones for 10 years or more. The committee recommends more research be conducted in this area.

The MTHR programme also investigated whether mobile phones might affect cells and tissue beyond simply heating them. The results so far show no evidence for this and the committee believes there is no need to support further work in this area.

Professor Lawrie Challis, Chairman of MTHR, said “This is a very substantial report from a large research programme. The work reported today has all been published in respected peer-reviewed scientific or medical journals. The results are so far re-assuring but there is still a need for more research, especially to check that no effects emerge from longer-term phone use from adults and from use by children.”

Your savings account contributes to global warming

There is growing consensus that climate change, also known as global warming, is becoming the greatest threat to our environment. It is caused by increasing levels of greenhouse gases, which trap the Sun's energy within the atmosphere. Did you know that even your saving account could emit greenhouse gases! One UK bank will now lead the way by calculating how much greenhouse gas is emitted from its savings account. The customers' literature will show existing and potential customers how much carbon their account produces. The carbon calculation will cover all greenhouse gas emissions from the initial application to customers' transactions.

Greenhouse gases include carbon dioxide, which is produced every time we use energy from fossil fuels - oil, coal and natural gas. Businesses are currently responsible fora large percentage of carbon emissions. Even one small office can emit three to five tonnes of carbon dioxide a year.

Starting on the road to sustainable clothing

Fashion, clothing, and textile industry representatives have met for the first time with environmental and ethical groups to look at how they can work with the government to improve the sustainability of clothing throughout its life cycle.

Clothing, across its life cycle, generates a range of environmental, social and economic impacts – with the growth in fast fashion and consumption being a key factor in this.

In 2006, UK clothing and textiles produced up to two million tonnes of waste, 3.1 million tonnes of CO2 and 70 million tonnes of waste water. Clothing imports into the EU as a whole now account for 42 per cent of the global market. In the UK only 10 per cent of our clothing is manufactured at home, the rest is imported.

Speaking at the event, Katharine Hamnett, one of the industry's most ethical and environmentally aware designers, said:

 “Sustainable clothing doesn't have to be more expensive. It can be more affordable and it should be more affordable.”

Following the event the clothing and fashion industry are invited to be involved in developing the sustainable clothing roadmap. The roadmap examines all stages of clothing's life cycle (from raw materials to end of life), charts the environmental and social impacts arising at each stage, and proposes ways of limiting those impacts where most effective.

BRITISH BEHAVIOUR ABROAD

 

The Foreign & Common Wealth Office has released statistics and advice for the thousands of UK citizens who will be calling upon its services when on holiday. The FCO believes that many of these problems could be prevented or made easier to deal with through better preparation by travellers and, by releasing facts and figures, it hopes to encourage travellers to be more prepared for their trips and more aware of their environment whilst abroad.

The facts
• Spain has the highest number of reported lost or stolen passports at 6,078 in this period. As the country most visited by British nationals (13,795.000) this i s unsurprising. However, in comparison, France – the second most popular country at 10,984,000 visitors - had only 713 reported lost or stolen passports.

FCO advice on passports:
• Before you travel, make two photocopies of the page with your details on. Leave one with friends or family at home and take one with you when you travel - this will assist a speedier turnaround if your passport is lost or stolen.
• Once abroad, keep your passport in a safe place (e.g. hotel safe). If you need to carry ID when you're out and about, use a photocopy.
• If you lose your passport or it is stolen, report the loss immediately to the nearest local police station and obtain a police report before contacting the nearest Embassy. Have your photocopy handy.

The Czech Republic features as one of the countries where most consular assistance is required with a disproportionate number of lost passports, arrests and hospitalisations. This is likely to be due to the massive influx of hen and stag parties to Prague !

Free dental treatment for kids

News that dental services for children will be provided free of charge by the Spanish government by the beginning of next year for six to fifteen year olds who have, up until now, had to shell out considerable sums of money to have their children's teeth checked, filled or extracted.

The announcement, which was made by the Spanish Ministry of Health at the beginning of September, forms part of the Government's “Plan de salud bucodental”. It will cover services such as annual check ups, fillings, the sealing of cracks in permanent teeth to avoid future decay, extractions, tooth polishing, treatment for teeth damaged in accidents and the correction of malformed canine teeth.

The National Minister for Health Bernat Soria explained that Madrid will support each of the autonomous communities which make up the Spanish territory financially to enable them to set up the new system even though communities like Navarra, The Basque Country and Andalucia already operate a similar system financed by community funds.

The new plan will be set up gradually but it is estimated that it will eventually benefit around four million under sixteens.

If the system is introduced in alphabetical order, it shouldn't be too long before “Canarias” reaps the benefits of the socialist government's latest idea.

Second, phase of hospital revamp under starters orders

The OHL construction company has been selected by the Regional Government Health Department to carry out the second phase of the remodelling and extension work programmed for Fuerteventura General Hospital .

The main objectives of the work, which will be backed by a 40.6 million Euro budget, are firstly to improve the organisation of the hospital building making it easier to use for both patients and visitors and secondly to increase the amount of space available for consulting rooms.

Once the work has been completed Fuerteventura General Hospital will boast a brand new Intensive Care unit with eight separate isolation rooms, an accident and emergency area with room for twenty patients. Nine separate operating theatres and a recovery area equipped to deal with ten patients at any one time as a well as a maternity unit with its corresponding theatres, an outpatients area and the usual consulting service. The company did not announce the expected completion date.

 
Cofete beaches to house baby turtles

The beaches of Cofete in the south of Fuerteventura are now littered with nests. The nests have not however been made by the local birds. They have been carefully transported from the beaches of Boa Vista in the Portuguese archipelago of Cabo Verde by helicopter together with their precious contents – turtle's eggs of the Caretta Caretta variety.

Experts from the Canary Islands , together with a contingent from the Environmental Department of Fuerteventura Cabildo travelled to the Archipelago, which is just off the West coast of Africa . They selected nests, which they considered most to survive the attacks of the large number of predators, which are resident in Cabo Verde and supervised their transfer to Fuerteventura .

The eight nests, which hold around five hundred turtle eggs between them, were carefully emptied and their contents buried “turtle style” at a depth of around fifty centimetres.

The regeneration project, which received a similar delivery of turtle eggs at this time last year, hopes to help the population of Tortugas regain strength in Fuerteventura .

Cruise calendar underway
The Silver Shadow cruise liner landed in Rosario on the 1 st October as one of its stop offs during a nine night cruise. Other destinations included Morocco , Portugal , Las Palmas , Cadiz and Malaga . Silver Shadow passengers tend to be well off 40-60+ and American and European. The ship is classed as luxury rated; the crew ratio is one to 1 to 1.5 passengers!
First draft of Island Tourism Plan published

Faced with a drop in the number of visitors to the Canary Islands the Regional Department of Tourism has decided to step in and invite each of the island Cabildos to draw up its own “rescue” plan with the aim of re establishing the islands as one of the most popular European tourist destinations.

Each island has its own separate strategy but as far as

Fuerteventura is concerned the Plan Territorial Especial de Ordenacion Turistico Insular PTEOTI or Island Plan for the Organization of Tourism concentrates on improving the existing installations rather than increasing the number of tourist beds on the island. The controversial plan, a rough draft of which has already been put into writing, was made public at the beginning of October. It will not be officially presented to the Regional Government until the statutory sixty day period established by the law during which the local town councils and any other persons affected by the decisions can make allegations against the ruling.

Basically the Plan is centred on establishing five main tourist areas on the island namely El Cotillo, Corralejo, the area around Parque Holandes, El Castillo, Tarajalejo-Las Playitas, Costa Calma, Esquinzo-Butihondo, Morro Jable and Aguas Verdes stating that permission for touristic constructions will not be granted in other parts of the island.

The drastic decision is necessary, according to the Tourist Department of the Cabildo, if the future of the island as a tourist resort is to be guaranteed. The existing establishments once they have been renovated and improved, are sufficient to keep the sector ticking over, allege the councillors adding that any projects in other areas which have already been authorized by the Cabildo will probably have the number of beds cut by half once the plan has been approved. Furthermore, the land in other areas will no longer be classed as apt for touristic development and promotion companies which have invested in this land with the idea of building hotels and apartment blocks will not be compensated by the island government.

In this way, the Cabildo will be stopping the 55,000 tourist beds currently in the pipeline, which would appear to go against the philosophy of promoting the island as a tourist resort.

However, the reasoning behind the decision would appear to be the growing population of Fuerteventura since the Cabildo considers it to be of paramount importance to reserve large amounts of land for the future generations.

It does of course remain to be seen what the individual town councils have to say about the Plan and whether or not the ruling will have to be rewritten several times and a long list of exceptions drawn up.

Five new schools for Fuerteventura !

Only one day before the demonstration organized by the Fimapa Parents Association of Fuerteventura to protest about the lack of adequate infrastructure and the subsequent poor standards of education on the island was due to take place the Regional Government announced that emergency measures will be taken to remedy the situation.

Although the situation in the islands as a whole is problematic with a good deal of overcrowding in the classrooms and the need for extra schools on the larger islands has been recognized. The parents of Fuerteventura felt that neither the island Cabildo, nor the Regional Government had taken into account the increase in the number of children on the registers of the island's schools in their plans for this school year. Large numbers of children had been allocated prefabricated buildings as classrooms and no provision had been made to take on extra teachers to cope with the increase in numbers.

Hopes were raised at the beginning of October when Milagros Luis Brito, regional minister for education announced that to find a solution to the educational problems of Fuerteventura had become the number one priority of the Regional Education Department acknowledging the size of the problem caused by the massive growth in the population of the islands over the last decade. In the period between 1998 and 2006 there has been a population increase of 103%. It is predicted that the population will increase by a further 82% by 2015, Brito commented that the existing educational infrastructure quite simply cannot cope with so many pupils and a sigh of relief was breathed on October 3 rd when the president of the islands explained that five new schools were to be built on the island. CEIP primary schools in Los Pozos, San Jose de Calasanz, El Castillo Antigua(2) and Pajara plus an IES Secondary school in Puerto del Rosario.

The construction of all the schools will be funded by the regional government.

 
Adverts to prevent illegal immigration

The Spanish government has begun airing television adverts across West Africa to try and stop the flow of illegal immigration. The $1.4m media campaign is to run for six weeks and has begun in Senegal . The aim of the campaign is to discourage potential migrants from attempting the dangerous 12-day voyage by boat to the Canary Islands . In the past two years Spain has signed cooperation and repatriation agreements with Algeria , Morocco , Senegal , Mauritania , Gambia , Guinea , Mali and Ghana . Repatriation, together with tougher policing, including European naval patrols, have led to a sharp fall in arrivals in the Canary Islands this year. However last month, 10 people drowned off Gran Canaria when a boat struck rocks close to shore. In July, about 50 people drowned when their boat capsized.

Corralejo port project

Following the success of similar projects in other islands, the Cabildo of Fuerteventura and La Oliva town council decided to join forces to propose a competition to be held for architects and construction specialists to be able to present their ideas for the future port of Corralejo .

In this way, explained the councillors, we can be sure that all the possibilities for developing the area will be looked into before opting for one particular project but the overall idea is to increase the space available for mooring boats.

The General Regional director of ports Jose Manuel Soto, who visited the port area of Corralejo accompanied by the president of Fuerteventura Cabildo Mario Cabrera, the island councillor for transports Ana Padilla and the Mayoress of the borough of La Oliva Claudina Morales, explained that there is a high demand for mooring points in Corralejo in recent times which it has not been possible to meet adding that it is hoped that the winning project will take into account the future expansion of the harbour.

It is also hoped that by opening up the competition the remodelling of the port will have less of a negative impact on the coastline.

We only need a small pool, please!

Carlos Perez de Bricio

The Fuerteventura Association of the Parents of Handicapped Children (Adisfama) is determined to convince Puerto del Rosario town council of the real need to construct a specially designed swimming pool in the Special Needs Educational Centre which situated in the island's capital.

The success of the swimming project for the handicapped, organised back in 2003, explain representatives of the organisation, was undeniable. The children who participated in the project grew in self-confidence and their physical abilities improved due to the water exercise programme. However, the project, which the Cabildo had originally planned to repeat each summer, eventually came to a halt and the children were left without their favourite activity.

The ideal solution would be to construct a therapeutic pool in the centre, added the president of the organisation Sergio Leon, given that in this way the children would be able to benefit for the exercise on a regular basis all year round.

In fact, the pool proposed by Adisfama would only measure ten metres by six with a depth of between 45 centimetres and one metre twenty at each end, needing only 18,000 euros for its construction.

Unfortunately, it would appear that Puerto del Rosario town council has not been very cooperative so far and the construction of the pool would not seem to be high on the list of priorities. Despite the clear physical and psychological benefits. The programme increases their self-confidence and helps them relate to other children with similar problems.

Adisfama, although not willing to back down, would be prepared to accept the “loan” of one lane at the municipal swimming pool until the special pool has been completed but the council has rejected the proposal explaining that “ there are no qualified supervisors” for the activity.

Checking on the Chinese

Faced with a notable drop in the number of tourists visiting the island the Tourism Department of Gran Canaria has decided to carry out campaigns to promote the island as the perfect location for conferences and congresses further a field than the usual German, French, British, and Italian markets.

The department has decided to make the most of the tour of the Gran Canaria Philharmonic Orchestra, which is currently on tour in China to propose the island as an alternative to the major European locations usually chosen by the Chinese for their conferences.

Gran Canaria, assured the Minister for Tourism Roberto Moreno, is in the ideal position. The island is near Africa , and has an “exotic” appeal to the Chinese yet it is in Europe with all the commodities of the West. It is just what the Chinese are looking for, continued the minister adding that meetings with the main Chinese travel agencies, which are known to deal with more than 150,000 travellers on a yearly basis, have already been held.

The Chinese are not looking for sun and sand, explained Mr Moreno and Gran Canaria as a typical beach resort has not appealed to them in the past. What must be carried out is a campaign to promote the island as a cultural location offering alternative leisure activities and water sports as well as traditional golf courses and luxury accommodation added Mr Moreno and this is just the nature of the project.

Mr Moreno expressed his satisfaction with the progress made so far explaining that the Chinese have shown a great deal of interest in the island but added that it is too soon to tell if the initial steps of the campaign have been successful.

Welcome to Fuerteventura !

Socialist Prime Minister Jose Luis Rodriguez Zapatero

Hundreds of tourists who arrived in El Matorral airport at the end of September were given VIP treatment as part of the International Tourism Day celebrations in Fuerteventura .

Amid the tones of local folklore groups, the island councillor for Tourism Agueda Montelongo, accompanied by the current Miss Spain Natalia Zavala, gave out eye catching strelizia flowers and straw hats bearing the name of Fuerteventura . Other promotional gifts were also given to all those arriving at the airport on September 27 th inviting everyone to sample some typical island wine, cheeses and fruits which were attractively displayed in the airport building.

Fuerteventura is leading the way in the archipelago as far increased tourist numbers are concerned and the councillor could not help but express her satisfaction at the decision taken by the island cabildo to give such a warm welcome to both national and international tourists in this way assuring that they take a “good” impression back to their home countries. A permanent reception party could be an excellent idea for the future

Which way round?

Caleta's got one now and since its construction in the middle of September it has caused no end of problems for drivers. The era of the “glorieta , rotonda” or roundabout as we know it has arrived.

The civil engineers of the Canary Islands have, over the last five years or so, become “obsessed” with the idea that traffic problems can be solved by the simple inclusion of a roundabout where a problematic but straightforward junction once existed. In theory the inclusion of a roundabout should alleviate traffic flow problems always supposing those who use the miracle structure actually know how they are supposed to use it and manage to work out why there are two lanes and not only one .

It must be remembered that the laws affecting roundabouts are new to Spain and just the same as any other law will be subject to change without warning but the norms are as follows.

Anyone wishing to turn left at the roundabout “should” indeed use the inside lane and change to the outside lane approximately one exit before they intend to turn left demonstrating their intentions by using the indicators. However Spanish law will also permit all road users to drive right round the roundabout in the outside lane never using the inside lane even if they wish to turn left at the very last exit. Furthermore, these outside lane users have priority and are only required to use their indicator just before they intend to leave the roundabout.

The result is chaotic. The outside laners will undoubtedly toot their horns at anyone trying to change lanes on the roundabout or will dangerously slam on the brakes giving the driver behind a heart attack all to avoid the crunch when the inside lane user suddenly tries to leave the roundabout directly from the inside lane in what is known as a right angled turn, which is also permitted by law.

In short, anything goes except sticking the nose of the car into the roundabout to oblige those using the outside lane to let you in. There IS a law against that.

Roundabout users. Go for it. Roundabouts are progress and remember that if you pass your exit because no one will let you out go round again and again if necessary. Next time join the hoards and use the outside lane!

New look stadium for Gran Tarajal

After a long three-year fight, the Gran Tarajal Sports Stadium is sporting a brand new look.

Work on laying the new racing track, which consisted of installing a 12mm layer of “Sportrack” combining the P30 and P60 pigments, was completed at the end of July and the video finish tower the construction of which was included in the 270,000 Euro budget is also ready for use.

The whole project was planned and carried out according to the instructions of the Fuerteventura Athletics Delegation and the result is so impressive that the Stadium is to be awarded the category of an official athletics track, which means official regional and national athletics events will be held in Gran Tarajal in the future.

Canaries lead the way for clean energy

The huge ecological challenge of generating clean energy using only renewable fuel sources in the future was taken up by the ITC Canarian Institute of Techonolgy several years ago when the entity financed and coordinated the construction of two hydrogen-generating plants in the islands.

In an ideal world hydrogen, a clean easily renewable energy source which does not put the world's supply of fossil fuels in danger, would be used to power all kinds of vehicles and machinery. The problem however has been to discover efficient ways of producing enough hydrogen to keep the world moving.

The Canarian project, which will be officially opened this October, is now ready to be put into action and in fact although it will be a surprise to the majority of those living in the area Pozo Izquierda in Gran Canaria will be housing two of the most important hydrogen generation plants in the world.

The smaller of the two plants, which has been financed completely by the ITC Canarian Institute of Technology, has cost around 300,000 euros and works using a hybrid system combining 10kw eolic or wind power with 3kw solar energy and will eventually, be able to produce 25m3 or 2 kg of hydrogen per day.

The larger plant, which has been financed with European funds, works by using a 225kw air generator, producing ten times as much hydrogen, and storing it as a compressed gas and not as a liquid. The hydrogen produced in this second plant will be used mainly to charge hydrogen batteries.

There are two ways of producing hydrogen, the traditional method where hydrogen is produced using fossil fuels, and the “green” method which will be used in the Canarian plants and which produces hydrogen by separating the oxygen, and hydrogen molecules in water.

The green method is not normally used in other parts of the world since a great deal of energy is needed to carry out the process. However, the grand quantity of sun and wind available in the archipelago makes the process much easier and keeps the costs down.

Although the production of hydrogen in the islands will not change the energy panorama overnight it is hoped that eventually, more of the vehicles using the roads will be hydrogen powered. Hydrogen is much cheaper and does not contaminate the air we breathe. We have the technology it is now a question of changing attitudes.

House purchase. The notarial deeds of sale

Once a contract of purchase is signed with the vendor, that represents the closing of the agreement between buyer and salesperson, but the transaction can only be completed and legal to other parties by its conversion to a notarial deed.

The signature of the contract of sale of a property supposes to capture the agreement in writing by which buyer and salesperson establish the terms and conditions of the sale done. In this document, it is itemised who are the buyers and who the salespersons are. What it is that is being sold, the sale price and the form of payment together with dates and all conditions of the sale etc.

Usually, in the signature of the contract of sale a percentage of the total agreed sales price is specified, it can be between 10 and 30%, of the payment of the property, which is declared to the public notary and to the taxman.

As we see, the contract of sale is an agreement between parties. However, what validity does it have in front of any third party? To make sure that the sale is total validity before any other party i.e financial, future buyers, etc, we proceed to what the Spanish call “the elevation to notarial instrument” of the contract. With this, it will be possible to have the sale inscribed in the general records of the land property registry and therefore after this stage the position of the new owner is secured within the Spanish legal system.

What does it mean to “elevated” to notarial deeds?

Simply, as commented on earlier, it is going to give full legal validity of the sale done since it registers the new ownership in the land property registry and from that point on any other claim over the property, any rights or any kind of ownership over the same property will be not considered as valid since the first person registering it, as they are the legitimated owner(s).

When doubts arise over who can be or not be the proprietor of a house or land, those interested goes to the General records which are used as the basis to determine and decide against any other company, person, or institution who is the owner of a real estate property.

On the another hand, an important topic of the deed is that the notarized amount will constitute the base for the fiscality of the house. Points to note:

- The buyer, investing in real estate should keep in mind the value given in the notarial deeds of the purchase, because it is the money that is declared what the buyer would have paid for it and it is value taken in consideration for fiscality and taxes in any resale on a later basis.

How to make a notarial deed?

The vendor and purchaser sign the notarial deeds, usually after the signature of the private contract of sale. Buyer and salesperson go to a public notary with the original contract of sale that you have signed so that the agreement can be inspected. If these corroborate that it is legal and valid, the notary public signature process of the deeds will proceed.

The public notary makes sure that everything is acceptable by undertaking certain procedures. These are:

- To read the agreement in appearance of the parts confirming that both agree and they understand everything they are signing.

- To make sure that the salesperson gives a note of the community of neighbours (signed by the Secretary of the same one) in the one that figures that he doesn't have debts with the community (in the event of signing the operation and book credit debts, the new buyer becomes responsible).

- To make sure requesting for fax to the General records of the Property that the buyer buys the housing free of any debts, encumbrances or lies (any mortgage, etc), or that in the event of any in the same act you proceeds to his cancellation.

The amount that is pending of payment for the buyer to the seller, should be done in this act and on the another hand, the salesperson will make the made "delivery of keys" that is considered as the delivery of the property that he sells.

The notary public points the hour in which one makes the Deed. From that moment, the buyer is the new proprietor. Later on, your lawyer will take care of consigning copy from the deeds to the General records of the Property that corresponds so that it is registered the ownership change.

And when does the buyer finance the purchase of his housing with a mortgage?

If it has to be paid to the vendor by using a mortgage facility, the same day of the sale deed being signed, the lender's representative will be present to formalise a second deed that is the "mortgage deed", at the same time. The representative of the lender will give the cheque to the salesperson and will realise the signature of the mortgage. This deed has also to be registered at the land properties registry.

Due to the complexity of the whole process, it is strongly recommended by the buyer of a Spanish property to seek specialised legal advice on these matters.

 

Diversify… Diversify… And then Diversify Some More….

 

by Bill Blevins , Financial Correspondent

When it co me s to saving and investing, your overall objective should be to minimise risk while reaching long-term financial goals. These goals need to include your require ments for income and growth; ensuring your money is protected, as much as possible, from inflation, taxes and exchange rates and that you will have sufficient money to see you right through your retirement years.

The answer to “minimising risk” is rarely to leave all your money in the bank. If you want a better return than inflation – which will ensure that you maintain your spending power throughout your life - the only way to get it is through investing. For cautious investors, a broadly diversified, well balanced portfolio should be the core element for savings. There are three main levels of diversification you should consider adopting:

The king of Spain visits a school in Puerto Roario

•  Asset allocation

Different assets classes have different risk and return characteristics. Your portfolio should combine them in a way that me ets your objectives and need for stability. Asset classes include US equities, UK equities, e me rging markets, bonds, property and cash.

Investing solely in low risk invest me nts will give you lower returns. Taxes and inflation will also eat away at much of these returns, making it hard to reach your invest me nt goals. Investing solely in higher risk equities exposes you to volatility. But by combining different assets you can earn higher returns that you would from a single low risk invest me nt, but with less risk than equities.

•  Diversifying across styles

The equity section of your portfolio also needs to be diversified, this ti me across styles and sectors and sectors. These include growth, value, market oriented, and large and small capitalisation. Such diversification me ans your portfolio will benefit from any upswings and be cushioned when one particular style goes out of favour.

When it co me s to investing in bonds, owning a bond fund will provide you with this diversification.

3. The multi manager approach

This third layer of diversification can help increase returns and out pace inflation, at the sa me ti me as lowering risk still further.

The multi manager process places assets in any one style with multiple management firms. Managers rarely outperform consistently and they all have their own approach which works better in some market conditions than in others. This could mean that your funds will suffer if they are managed by just a few managers, even if their past record was impressive when you chose them.

The opportunity to have a large number of the world's leading managers looking after your capital is one everyone should consider. Multi manager firms research thousands of invest me nt managers each year. They are constantly monitored and replaced where necessary.

Funds held in such an invest me nt can be bought and sold without incurring any capital gains tax. You can also place the invest me nt within a Personal Portfolio Bond, whereby if you do not make any withdrawals you do not pay any tax.

Multi manager investing is an all-in-one solution which combines diversification, active management and risk control in a simple, tax efficient, cost savings vehicle. The wide range of diversification it offers serves to reduce the risk associated with one market or one fund manger and increases the opportunity to benefit from upturns in different markets around the world.

Combined with appropriate asset allocation it me ans that your money will be working hard to achieve your objectives, while you can be secure in the knowledge that you have neither taken on too much risk nor ignored hidden risks like inflation.

We will be supplying El Sol News with regular financial editorial from now on, dealing with subjects of particular importance to expatriates living here. I hope you enjoy these features and find them useful. For further information on any of these topics you may contact our Canary Islands Partner, Paul Montague , on telephone 922 716 079 or email paul.montague@blevinsfranks.com .

To keep in touch with the latest developments in the offshore world, check out the latest news on our website www.blevinsfranksinternational.com