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ME WIN? THAT DOESN’T EXIST IN MY HOUSE. FIGHT TO THE DEATH. LET ME WIN? THAT ’T EXIST IN MY HOUSE. FIGHT TO THE DEATH. LET ME WIN? THAT DOESN’T EXIST IN MY

. FIGHT TO THE DEATH. LET ME WIN? THAT DOESN’T EXIST IN MY HOUSE. FIGHT TO THE

H. LET ME WIN? THAT DOESN’T EXIST IN MY HOUSE. FIGHT TO THE DEATH. LET ME WIN?

DOESN’T EXIST IN MY HOUSE. FIGHT TO THE DEATH. LET ME WIN? THAT DOESN’T EXIST HOUSE. FIGHT TO THE DEATH. LET ME WIN? THAT DOESN’T EXIST IN MY HOUSE. FIGHT DEATH. LET ME WIN? THAT DOESN’T EXIST IN MY HOUSE. FIGHT TO THE DEATH. LET ME

THAT DOESN’T EXIST IN MY HOUSE. FIGHT TO THE DEATH. LET ME WIN? THAT DOESN’T IN MY HOUSE. FIGHT TO THE DEATH. LET ME WIN? THAT DOESN’T EXIST IN MY HOUSE. TO THE DEATH. LET ME WIN? THAT DOESN’T EXIST IN MY HOUSE. FIGHT TO THE DEATH.

ME WIN? THAT DOESN’T EXIST IN MY HOUSE. FIGHT TO THE DEATH. LET ME WIN? THAT ’T EXIST IN MY HOUSE. FIGHT TO THE DEATH. LET ME WIN? THAT DOESN’T EXIST IN MY

. FIGHT TO THE DEATH. LET ME WIN? THAT DOESN’T EXIST IN MY HOUSE. FIGHT TO THE

H. LET ME WIN? THAT DOESN’T EXIST IN MY HOUSE. FIGHT TO THE DEATH. LET ME WIN?

DOESN’T EXIST IN MY HOUSE. FIGHT TO THE DEATH. LET ME WIN? THAT DOESN’T EXIST HOUSE. FIGHT TO THE DEATH. LET ME WIN? THAT DOESN’T EXIST IN MY HOUSE. FIGHT DEATH. LET ME WIN? THAT DOESN’T EXIST IN MY HOUSE. FIGHT TO THE DEATH. LET ME

THAT DOESN’T EXIST IN MY HOUSE. FIGHT TO THE DEATH. LET ME WIN? THAT DOESN’T IN MY HOUSE. FIGHT TO THE DEATH. LET ME WIN? THAT DOESN’T EXIST IN MY HOUSE. TO THE DEATH. LET ME WIN? THAT DOESN’T EXIST IN MY HOUSE. FIGHT TO THE DEATH.

ME WIN? THAT DOESN’T EXIST IN MY HOUSE. FIGHT TO THE DEATH. LET ME WIN? THAT ’T EXIST IN MY HOUSE. FIGHT TO THE DEATH. LET ME WIN? THAT DOESN’T EXIST IN MY

. FIGHT TO THE DEATH. LET ME WIN? THAT DOESN’T EXIST IN MY HOUSE. FIGHT TO THE

H. LET ME WIN? THAT DOESN’T EXIST IN MY HOUSE. FIGHT TO THE DEATH. LET ME WIN?

DOESN’T EXIST IN MY HOUSE. FIGHT TO THE DEATH. LET ME WIN? THAT DOESN’T EXIST HOUSE. FIGHT TO THE DEATH. LET ME WIN? THAT DOESN’T EXIST IN MY HOUSE. FIGHT DEATH. LET ME WIN? THAT DOESN’T EXIST IN MY HOUSE. FIGHT TO THE DEATH. LET ME

THAT DOESN’T EXIST IN MY HOUSE. FIGHT TO THE DEATH. LET ME WIN? THAT DOESN’T IN MY HOUSE. FIGHT TO THE DEATH. LET ME WIN? THAT DOESN’T EXIST IN MY HOUSE. TO THE DEATH. LET ME WIN? THAT DOESN’T EXIST IN MY HOUSE. FIGHT TO THE DEATH.

ME WIN? THAT DOESN’T EXIST IN MY HOUSE. FIGHT TO THE DEATH. LET ME WIN? THAT ’T EXIST IN MY HOUSE. FIGHT TO THE DEATH. LET ME WIN? THAT DOESN’T EXIST IN MY

. FIGHT TO THE DEATH. LET ME WIN? THAT DOESN’T EXIST IN MY HOUSE. FIGHT TO THE

H. LET ME WIN? THAT DOESN’T EXIST IN MY HOUSE. FIGHT TO THE DEATH. LET ME WIN?

DOESN’T EXIST IN MY HOUSE. FIGHT TO THE DEATH. LET ME WIN? THAT DOESN’T EXIST HOUSE. FIGHT TO THE DEATH. LET ME WIN? THAT DOESN’T EXIST IN MY HOUSE. FIGHT BILL ACKMAN

D E A T H . L E T M E W I N ? T H A T D O E S N ’ T CEO, E XPershing I S T ISquare N MCapital Y H Management OUSE. FIGHT TO THE DEATH. LET ME

THAT DOESN’T EXIST IN MY HOUSE. FIGHT TO THE DEATH. LET ME WIN? THAT DOESN’T IN MY HOUSE. FIGHT TO THE DEATH. LET ME WIN? THAT DOESN’T EXIST IN MY HOUSE. TO THE DEATH. LET ME WIN? THAT DOESN’T EXIST IN MY HOUSE. FIGHT TO THE DEATH.


Editorial

EDI TOR'S

LET TER

EDITOR

Mark Hedley SENIOR CONTRIBUTING EDITOR

Jon Hawkins ASSOCIATE EDITOR

Ben Winstanley STAFF WRITER

Max Williams SUB EDITOR

Vicky Smith CONTRIBUTING EDITORS

Mike Gibson, Lydia Winter ASIA EDITOR

Cathy Adams

Design ART DIRECTOR

Matthew Hasteley DESIGNERS

Emily Black, Annie Brooks, Nicola Poulos JUNIOR DESIGNER

Louis Moss CONTRIBUTING DESIGNERS

Ryan van Kesteren, Danny McCormick

Contributors Selena Barr, Nick Gold, Jessica Furseth, Adrian Hailwood, Duncan Madden, John Purcell, Eugenio Re Rebaudengo, Melissa Scallan, Safi Thind

Advertising SALES DIRECTOR

Michael Berrett ACCOUNT MANAGERS

Rob Brereton, Freddie Dunbar, Michael Henderson, Jason Lyon, Will Preston, Seth Tapsfield

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W

hen we first started HEDGE, there had been no credit crunch. Steve Cohen was a highly respected fund manager with a spotless record. And Brexit wasn’t even a twinkle in BoJo’s eyes. Fifty issues later, a lot has changed. In 2007, there were fewer than $2bn assets under management across the hedge fund industry. There’s now in excess of $3bn. In the same period, the number of funds has doubled – there are now more than 15,000 globally. Back then, quants were on the fringes. Now, seven of the 11 largest hedge fund firms are quantitative managers. It’s not all been plain sailing, though. The year we started HEDGE, Warren Buffett bet $1m that an index fund would outpace a basket of hedge funds over the course of a decade. Ten years later, he was right. Diversity hasn’t improved much, either. Hedge funds run by women have outperformed the industry average by 20% over the last decade, yet women represent just 14% of partner-level positions in global hedge funds. But the balance sheets are looking OK. Last year the industry produced its best returns since 2013. Investor demands to pull money from funds are also the lowest since 2007, signalling renewed confidence in the sector. But are hedge funds doing enough to justify their fees? Will ‘two-and-twenty’ still exist by 2020? Ultimately it all comes down to generating alpha. Adapt or die. Either way, HEDGE will be along for the ride. Here’s to the next ten years. May they prove profitable.

NICK GOLD Nick Gold is the owner and director of Speakers Corner, a market-leading speaker bureau and consultancy with more than 6,500 speakers, servicing in excess of 1,000 events yearly. This issue he tells us how to nail your elevator pitch. [p27]

JESSICA FURSETH Jessica Furseth specialises in business start-up trends and technology. Previously funds editor at Shares magazine, she regularly covers investment and market topics. In this issue, she interviews Argo Capital Management’s Marcelo Saez. [p32]

LEAD DEVELOPER

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SENIOR COMMUNICATIONS MANAGER

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Thank you to Fabergé for the creative birthday message – the team built ‘50’ out of hundreds of rubies and diamonds. Sadly we didn’t get to keep any of them…

FINANCIAL DIRECTOR

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ON THE COVER: $50 USD “You got a fifty dollar bill, get your hands up!” It really must be a landmark issue if we’re quoting Fatman Scoop. To celebrate the 50th issue of HEDGE, we had to go for $USD. Ulysses S Grant, featured on the bill, was actually the president who introduced the “greenback” in 1869 – banknotes that, unlike the rest of the currency, were not backed by gold or silver.

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ISSUE 50

Contents

21

72

S H O RT S 14 16 18 21 23 25

Open Position My Mayfair On the Market Picture This Form Chaser Elevator Pitching

F U N D A ME NTA LS 28 Any Way You Quant It Anthony Lawler, co-head of GAM Systematic, talks quant-focused funds 32 Consider the Alternatives Marcelo Saez, Argo Capital Management’s Investment Director 38 Hedge Hot 50 From superyachts to superbikes – 50 covetable buys to mark a milestone 58 It’s All Fine and Gandy David Gandy reveals the story behind his new collaboration with Aspinal of London

T RE A S U RE A S S E T S 66 Whisky 72 Sculpture 81 Contemporary Art 85 Jewellery 86 Watches

R E WA RD S 92 Travel 100 Motors 105 Food & Drink

P U RS U I T S 109 Family-friendly retreats 113 Firearm auctions

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38 94

100


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SHORT S

Alexander Calder is one of the 20th century’s most influential artists, and transformed the very nature of sculpture FORM CHASER . 023 OPEN POSITION . 014 | MY MAYFAIR . 016 | ON THE MARKET . 018 | PICTURE THIS . 021 | FORM CHASER . 023 | ELEVATOR PITCH . 025


OPEN POSITION DAVE ELZAS

SHORTS

O P E N

P O S I T I O N

Dave Elzas, CEO & Group Managing Director, Geneva Management Group PAST

With a background rooted in engineering and business, I have been involved in both the mining industry and in the management of private money, with many years of experience in international asset management. I served as Managing Director for the family office for one of Israel’s wealthiest families for six years and as a Non-Executive Director of Gem Diamonds Ltd, a mining company listed on the London Stock Exchange, where I chaired the Audit Committee. I have also served as a Board Member of the Hermitage Fund, Russia’s largest and most successful investment fund. I co-founded the Geneva Management Group (GMG), which is headquartered in Switzerland, in 2000. PRESENT

Today I serve as the Group Managing Director and CEO of the Geneva Management Group. I oversee and am responsible for implementing the company’s aggressive growth strategy. I’m very handson in growing our portfolio of institutional clients across our entire service offering, as well as being involved in our real-estate transactions and joint ventures. We are currently working on the rollout of our new disruptive business-tobusiness asset management model, called Investment Management Solutions. It is set to position GMG as a preferred alternative

financial service provider for professional asset managers seeking independence. We provide associate asset managers and their HNW and UHNW clients with, among other fundamental advantages, a broader offering at more competitive fees in Switzerland, and other financial centres. This model also creates new, exciting opportunities for private asset managers, accountants, lawyers and other FSP, to broaden their offering, free from broader institutional pressures. FUTURE

We intend to grow the geographical spread of our real-estate investment opportunities beyond Europe. Simultaneously, we intend to open new offices in the US and Asia. We also plan to start growing our business by acquisition. H For more information, see gmgfinancial.com

L O N G

– BENJAMIN FRANKLIN

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SHORTS

SHORTS M Y

M A Y F A I R

.

4 3

Hide – Above To speak of talented chef Ollie Dabbous is to mention his game-changing eponymous restaurant Dabbous. Its five-year tenure at the summit of London’s food scene began in 2012, back when we were yet to experience the full weight of the small plates revolution, before regional Thai cuisine or bao had flourished in the capital, and definitely prior to the rise of so-called ‘influencers’. But by the time it served its final course in July 2017, it had shepherded in a new era of casual fine dining. Much has changed in the time since I first navigated the 12-month waiting list at Dabbous and drawing up a chair at the chef ’s new restaurant Hide, but there’s one thing that remains – hype, and lots of it.

A bowl of squid waiting for the introduction of a heady saffron-infused fish soup triggers all sorts of childhood flashbacks of holidaying in Provence 16

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Hedonism Wines is the financial backer, collaborator and landlord of this mighty space (the iPad-app wine list is the giveaway), but its Russian billionaire owner Yevgeny Chichvarkin allowed Dabbous himself to be the architect of the restaurant’s vision. The result is three separate concepts to the chef ’s liking: Below, a subterranean cocktail bar run by booze whiz Oskar Kinberg; all-day dining at Ground; and Above, a restaurant that intends to put itself head and shoulders in that direction over London’s other fine-dining prospects. Add to that the hefty £20m necessary to create what is undoubtedly one of the most beautiful restaurants anywhere in the UK and you have one heck of a bold statement of intent. At our table in Above, we’re overlooking Green Park through the panoramic windows of the gleaming dining room. There’s picnic-like nibbles of pickled vegetables and chamomile aioli (crudite and salad cream taken up a few notches); an umamiladen mushroom broth; and, pork and goose charcuterie. We may as well be sitting on the grass opposite, swapping lashings of ginger ale for a healthy slug of Ambonnay Grand Cru champagne from grower Eric Rodez. Starters proper come in the form of celeriac ribbons in a pine broth (a woodland-

reminiscent palate cleanser – a phrase I never thought I’d utter) followed by marinated tuna wrapped in a caviar-topped shiso leaf. We cross back from Scandinavia and Japan to central Europe: ‘Bouillabaisse’, surely a future signature dish, arrives as distant from its Marseille origins as one could imagine. There’s four slithers of plaice sashimi, slick with the salinity of seaweed dressing, before you lift the plate to reveal a bowl of squid waiting for the introduction of a heady saffron-infused fish soup. It triggers all sorts of flashbacks of holidaying in Provence. You get the impression that Dabbous is leading you through a lifetime of influences and memories, yours and his, and we follow like complicit children turning the page for another bite of this culinary narrative. Of course, all of this wouldn’t matter a jot if flavour and execution were lacking, but as we round the corner to the main part of the meal, there’s perfectly cooked turbot, shimmering in its iridescence, remarkable ruby red slices of goose and soft tranches of lamb. And desserts? They’re will-o-wisps of floral sweetness, like jasmine and coconut. I’ll put it this way: Dabbous’ latest triumph is certainly not hiding in plain sight. H – BW 85 Piccadilly, Mayfair, W1J 7NB; 020 3146 8666; hide.co.uk


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ART SUPERIMPOSITION

SHORTS

SHORTS

P I C T U R E

T H I S

Hidden depths Superimposition, a group show featuring four leading contemporary British artists, opens at Partners & Mucciaccia London gallery on 15 June. This is one art exhibition you should definitely impose yourself upon. Derived from the Latin word superimponere, meaning ‘to place over’ or ‘to place above’, superimposition is largely associated with the world of graphics.

However, the technique runs through much British art: think the Pop Art collages of Richard Hamilton and his peers; the abstract paintings of Ben Nicholson; and the merz assemblages by Kurt Schwitters in the 1940s. All four artists featured in the Partners & Mucciaccia exhibition – Paul Morrison, Barry Reigate, Michael Stubbs and Mark Titchner – aim to explore superimposition through the use of paint.

The image above is Stubbs’s ‘Velocity Immersion Reflector’, 2017. Perhaps the closest in style to the Pop Artists of the 1950s, Stubbs uses household paints and coloured floor varnishes to pile up riotous imagery that offers a fragmented challenge to the viewer. Just don’t get him round to redecorate your house. H ‘Superimposition’ runs from 15 June-31 August 2018. For more info: partnersandmucciaccia.net

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SCULPTURE CALDER

SHORTS

SHORTS

PHOTOGRAPHS All images and works by Calder © 2018 Calder Foundation, New York / DACS London

F O R M

C H A S E R

Upwardly mobile Most of us covet a sculpted body, but how about a sculpted body of work? Hauser & Wirth Somerset is showing a major solo exhibition of works by Alexander Calder (1898-1976), one of the 20th century’s most influential artists, who transformed the very nature of sculpture during his career. Known primarily for pioneering the mobile, Calder’s oeuvre extended to wire sculpture, carved figures, oil paintings, jewellery, and furniture, as well as numerous public commissions across the globe. From the Stony River to the Sky runs through all five gallery spaces at Hauser & Wirth Somerset with more than 80 pieces, including large-scale outdoor works set within the gardens at Durslade Farm. The exhibition takes its title from the

etymology of the surname Calder in Celtic – meaning ‘from the stony river’ – and its inspiration from Calder’s home and studio in Roxbury, Connecticut. In 1934, the surrounding Roxbury hills inspired Calder to make outdoor sculptures, among the first of which – ‘Red, White, Black and Brass’ – is exhibited inside the galleries. Also on view is ‘Apple Monster’, made from a fallen branch of an ancient apple tree, as well as an untitled sister sculpture, which features a cow vertebra and spheres perched atop wires. The work above is ‘Red Maze I’, a striking creation of metal, wire and paint. At 130.8cm x 109.2cm, this is truly a piece of art that you can get lost in. H The exhibition runs 26 May to 9 September 2018; for more info, see hauserwirthsomerset.com

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NETWORKING ELEVATOR PITCH

SHORTS

...

Making A Good Impression Nailing your elevator pitch can be a case of make or break… NICK GOLD gives us some crucial tips on delivering your message quickly and effectively

ALLOW ME TO set the scene: you’re at

Personality as well as content In the world of public speaking, very few speakers get the balance between content and personality right: they either go content heavy and run the risk of being ‘dry’ on stage, or they command the stage but the content they deliver is forgotten by the following day. ILLUSTRATION by Gary Waters / Ikon images

You need to get straight to the point, explain the product, strategy, or company and ensure your audience understands your path and direction

Show flexibility A pitch is designed to show working methodologies, style, tone and focus. As an elevator pitch is always time sensitive, you always need to get straight to the point, explain the product, strategy, or company and ensure your audience understands your path and direction. But, demonstrating a thirst for understanding and a flexibility to work alongside a client or other parties, whilst illustrating how they are incorporated into a partnership, will help lay an invitation for a deeper relationship with investors and stand you in good stead. Judge your audience You might have undertaken significant research on or been fully briefed about the company, or even briefed on the individual you are speaking to but that initial handshake is critical for the success of the pitch. Judge your audience, make sure the pitch that you have prepared – and the picture you had in your mind about who you were meeting – matches the handshakes that have just taken place. If they do, then great, you are well set to deliver an amazing elevator pitch. If something doesn’t feel right, adjust your style, change your approach, not to a critical level, but just enough to reflect the atmosphere. Practice, practice, practice Public speaking is a skill which, while everyone thinks they can deliver, is something that requires a lot of work. Coupling this skill with the time constraint of a pitch means impact and brevity are absolutely key. If the message can be conveyed in one word as opposed to five, then cut the preamble. Utilise experts around you to help hone both the content

as well as the delivery. Then practice, use every opportunity to deliver an elevator pitch, to all different people, to those who understand your industry and to those who have no knowledge. Adapt to your pitch accordingly and judge the results. This type of multifaceted practise will stand you in good stead for successful pitching. H Speakers Corner is a market-leading speaker bureau with more than 6,500 speakers. For more information, go to speakerscorner.co.uk

SHORTS

a conference and the time has come where you’re expected to network with a room full of potential investors. You’ve done this plenty of times before but feel that your elevator pitch needs a bit of an overhaul. Rather than just re-wording your original pitch and heading into the crowd to say the same thing to everyone you meet, there are plenty of public speaking techniques for you to consider in order to grab people’s attention and ensure that they have fully understood your position.

In a pitch scenario, you are positioning both your fund marketing strategy and your personality. The style and tone of delivery will influence your pitch credibility. Understanding your company’s tone and values and incorporating them into the delivery of the pitch will underpin and strengthen the actual pitch. Ensuring the two areas combine effectively will put you on the right track for success.

SOUND ADVICE “Say in a few sentences what others say in a book. Keep it simple and it will be memorable. Passion is the spark but dedication is the fuel. Before you try to promote, you must first persuade. Let me visualise your castle in the air – but don’t forget to describe the bricks.” – Daniel Bobroff, Co-Founder and former investment director of ASOS Ventures

“Whether it’s a personal or business brand, an elevator pitch is the best way to introduce oneself and illustrate your point of difference and value add. The pitch should include what you do, how you do it and why. It should be succinct but interesting enough to leave the person wanting more.” – Bianca Miller-Cole, The Apprentice 2014 finalist and Founder of The Be Group

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FUNDAMENTALS

Any Way You Quant It Anthony Lawler spearheaded GAM’s expansion into quantitative investing to huge success. The co-head of GAM Systematic tells SAFI THIND about creating quant-focused funds, and their future in finance

We are now at the beginning of a sea of change in how investors allocate capital to alternatives. Technology is becoming a big part of people’s lives 28

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company through the people working here.” Lawler’s entry into the industry came as head of hedge fund research at Glenwood, the Chicago fund of hedge funds division of Man, where he began in 2002. An old company photo shows the spiky-haired, fresh-faced Lawler standing with a hardened squadron of people looking far too young. But appearances can be deceptive. Beginning in 2004, Lawler built out Man Glenwood’s principle components analysis business – a way of investing using statistical techniques to replicate the performance of hedge funds, which was the precursor to the ARP strategies he now oversees at GAM. Despite its potential, the principle components business was, he says, flawed: “It doesn’t deliver enough value to clients,” he says. “The thing you replicate best is the only thing you shouldn’t pay for, which is equities – you don’t want that, you want the rest of the stuff.” Man Glenwood was, however, a good place to cut his teeth. The company was innovative with exceptional people. Ken Griffin, founder of Citadel – one of two men he describes as “intimidatingly intelligent” (the other being Griffin’s Citadel deputy and now head of Magnetar, Alec Litowitz) – traded convertible bonds on his desk. Following his time in Chicago he moved to the UK “to help Man clean up stuff which needed cleaning up” after 2008. Three years later he joined asset manager GAM. His task was to lead GAM’s first steps into the quant world by launching the ARP business. “I feel that we are now at the beginning of a sea change in how investors allocate capital to alternatives,” he says. “Technology is becoming a big part of people’s lives and there’s more accepted – a few years ago selfdriving cars were thought to be impossible.” To oversee the charge in 2014 he brought in Lars Jaeger – the pioneer of ARP. Jaeger, he says, is a great mind. The man co-authored the paper in the early 2000s

from which the term ‘alternative beta’ was coined and also wrote the original book on ARP, which has become required reading for chartered financial analysts. GAM’s ARP business started with a modest £50m in 2012, which has now mushroomed into £1.8bn. Lawler says that clients are attracted to ARP as a way of attaining steady, low-risk “alternative” returns without paying the high fees associated with hedge funds. While GAM has built up a “credible” five-year track record with its ARP funds, it was only the first stage in its quant expansion. The company wanted to get into the more active alpha-generating hedge fund world. Hence in 2016, came the acquisition of Cantab – and GAM Systematic was formed, which Lawler now runs with co-head Adam Glinsman, Cantab’s ex-chief executive. Cantab brings a more “alpha hunting dog” approach to the table in contrast to the “boring” ARP. “ARP is about limited asset classes, limited trading – like a monthly rebalancing, whereas Cantab focuses on sampling the market every 15 minutes and trading every hour across asset classes,” he says. By all accounts the folk at Cantab are an interesting lot. Its head is Dr Ewan Kirk, a charismatic scientist who once ran Goldman Sach’s quant strategies division in Europe and has appeared on the hedge fund version of Dragon’s Den. The firm itself is staffed by mathematicians and scientists, whom Lawler admits are “geeks” – the company recently had to enforce a no drones flying policy to stop the scientists buzzing them around the office – but there is no doubt about what Lawler says is the “crazy intelligent” brain power at work at the company. “Ewan Kirk and his two deputies, Matt Killeya and Tom Howat, I would argue are geniuses,” says Lawler. “They have a visualisation of technology of how things should operate in a multi-dimensional ▶

PHOTOGRAPHS by Ciaran McCrickard Photography

THE HEDGE FUND industry is more than ever being powered by scientists and mathematicians. From the computer geniuses at AQR to the mega mind of Jim Simons and his hush-hush Renaissance shop, the geeks are in charge. Seeking to emulate this success is Zurich-headquartered GAM, which has so far raised £4.8bn in its “systematic strategies”, a combination of programme-driven alternative risk premia (ARP) investment and the scientifically backed hedge fund Cantab. In charge of the company’s move into the quant world is Anthony Lawler, co-head of GAM Systematic since 2011. Lawler, a South African by birth, is a discreet character. To see him in his GAMbranded fleece you wouldn’t immediately suspect he is the force behind this multibillion quant factory. Lawler’s background is techy, having studied statistics at Chicago Booth before he was headhunted into technology venture capital at Castling Group in the 1990s. But he is not a scientist or mathematician, more of a ‘head of department’ in charge of the science lab. “I’m not concerned with the individual stuff – I won’t be discussing with them whether to use four or five moving average models,” he says. “It’s not my job to challenge the mathematics of things, we have more than 35 PhDs for that, but I understand machine learning well so can understand the techniques. I’m focused on guiding the


QUANT FUNDS GAM SYSTEMATIC

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QUANT FUNDS GAM SYSTEMATIC

FUNDAMENTALS

Ten years ago, quant managers proudly sold their complexity and intelligence, but we want to simplify the message to clients and not over-sell the complexity

▶ space which is quite different to how normal people see it. Things are constantly bubbling up which wouldn’t happen in a more rigid, stoic environment.” According to Lawler, Cantab’s focus on technology has brought a fintech thinking to GAM’s systems. All of the company’s code is now written internally at Cambridge. “We have got a single language and architecture now – it’s almost like having our own software development company within GAM,” says Lawler. So how does he manage the folk in this heady scientific environment? Though he is not a PhD he is very quant-comfortable. But, at the same time, Lawler says it’s important not to overcomplicate what can be a very esoteric activity. “Ten years ago, quant managers proudly

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sold their complexity and intelligence,” says Lawler. “But we want to simplify the message to clients and not over-sell the complexity.” With its expansion, Lawler feels GAM is now one of a handful of quantitative European hedge fund managers competing on a global scale. Indeed, the company currently gets more than half its business outside Europe. The model for GAM, like others in Europe, are the US funds – the likes of AQR and Renaissance. But while Europe has lagged behind on the quant side, the opportunity to grow is clearly there. “In the US, people are more innovative and quick to try things,” he says. “There is more scepticism of alts in Europe but that is changing. The global market is not dominated by the US firms now.” So what are the benefits of computer-

based investing over humans? Firstly, a computer is not susceptible to cognitive biases. Lawler says that they can create programmes based on, for example, the rule set of Warren Buffet, and run them without the element of human madness, which often strikes when things turn. “With a human, you are in an emotional, heated state,” he says. “In the heat of the moment you can make different decisions or fall in love with positions. Computers don’t.” At the same time, being computerised gives scaleability and reduces cost. On the downside, however, Lawler admits people can expect too much from quant funds. “Be sceptical of every back test you see,” he says. “In risk premia there are people showing two or three sharp ratios – that’s not going to happen in the real world.” Trade crowding is another issue. It is important for quants to understand how people crowd into things and programme their models accordingly. There is also the risk that the boffins can become afflicted by hubris, and get carried away with their predictive powers. Lawler points to the famous case of Long Term Capital Management (LTCM), which, staffed with some of the best minds in the finance world, went ahead and massively leveraged up its positions – and then got things horrifically wrong. “If people think they know what will happen – that was the LTCM risk – that is a danger,” he says. “You could argue that LTCM was theoretically correct, but they didn’t cater for path risk in their prediction of converging bond spreads. Argued from an academic view they were right, eventually – but if you can’t survive the journey to where you’re going, that is a huge risk.” Lawler has been on that journey for some time, and seen the ups and downs. The future looks bright. The future looks quant. H


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ALTERNATIVE INVESTMENT ARGO CAPITAL MANAGEMENT

Consider the Alternatives As investment director at Argo Capital Management, Marcelo Saez focuses on emerging markets. He tells JESSICA FURSETH why an inquisitive nature is an invaluable asset to those in the sector

PHOTOGRAPHS by Ciaran McCrickard

MARCELO SAEZ USES the word “ideas” a lot when he’s talking about investing. “You have to have a certain degree of curiosity when you invest in emerging markets. A healthy dose of curiosity goes a long way to keep you abreast of developments in emerging markets. It’s not something you read about every day in the newspaper, but you know, if you dig enough around the place you can find good information.” Saez is the investment director at Argo Capital Management, the alternative investment manager that focuses on emerging markets. We’re sitting in Argo’s offices in Mayfair, which is a modern space once you get past the marbled lobby. Early spring, a few days after the snow melted, and Saez is in a blue suit and open-collared light blue shirt. He’s calm and focused as he talks shop, equally comfortable discussing details as he is the big picture. Established in 2000, Argo Capital Management operates an absolute return policy. Saez is part of a half-dozen strong investment team and the way he describes it, there’s a fair amount of discretion: “We pick and choose our investments predominantly from our own research. We look at companies that are coming to the market issuing bonds, and there’s been an increasing wave of those. Last year was the biggest on record on the corporate credit side and this year is meant to surpass that,” says Saez. “As more resources are being devoted to emerging markets, you get a lot more exposure from companies that you may not have heard of before.” Right now, Saez’s key investment interests are high-volatile emerging markets and some of the frontier countries. “I think it’s interesting. You’re seeing a lot of issuance from these places, but in some of these countries you’re not getting a lot of information. There seems to be a big demand for emerging market issuance, and particularly for these names that no

one’s heard of before. You have to run your analysis of these countries fairly thoroughly before you get comfortable.” Knowledge is power Emerging market investment has traditionally been more driven by political instability than mature markets, however recent events in both Europe and the United States have, to an extent, turned things around. “Paradoxically, some of the emerging markets have gone the other way round,” says Saez, noting how Argentina had been the “basket case” of emerging markets for the last 20 years until the country started reforms in 2015. But still, there’s a trade-off between how much analysis you’d like to do and how much analysis you can do given the time limit – particularly for new issuances. “Given that we are seasoned investors with 20-plus years’ experience for most of the team members, you get to know pretty quickly which areas you need to focus on for a particular country.” Take Nigeria, for example: “They used to run a current account surplus, but they’ve started to run a current account deficit since the oil price dropped and that tells us a lot… The fact that they’re running a fairly conservative fiscal deficit, and that their level of debts is very low by international standards, would make us confident that this particular economy has the ability to service its debts. There’s still a lot of challenges, but we got pretty comfortable that these were attractive investments.” Keeping the promises of an absolute return fund that’s also deep into volatile territory requires a fair amount of diversification. The fund has 50-60 lowcorrelation positions across the corporate and sovereign sides. “Of our portfolio, 10-20% is what we deem a liquid distress bucket, or ‘fallen angel’ investments – corporates where bond prices are dropping

from 100 down to 80 down or even lower. We get quite excited by those low correlation opportunities.” Saez’s favourite part of the job is putting together the portfolio – piecing together the different ideas. “For example, in February there was a big dislocation in the marketplace because of the VIX Index – it exploded. At the time we were kind of scratching our heads. We had positions in place, but how could we make any value out of it?” The solution was to hedge the portfolio and go long on volatility. We saw some funds that invested in inverse volatility go from 100 to four in the space of a day, losing 90% of their value. “It cushioned our returns nicely. That kind of looking for ideas demystifies the market to an extent. Having the conviction to put those ideas in place is very satisfying.” Strong foundations Saez was born in Chile, and the family emigrated to Australia when he was 11 and he grew up there. “I picked up the language quite quickly and I did all my high schooling and university in Australia. It set the foundations, which was a good opportunity as the educational system there is good.” Saez speaks in a hard-topeg international accent, although the Aussie comes out every time he says the word “Australia”: Saez got his degree from Macquarie University. “I did economics ▶

There’s a trade-off between how much analysis you’d like to do and how much you can do given the time limit – particularly for new issuances 33

HEDGE


ALTERNATIVE INVESTMENT ARGO CAPITAL MANAGEMENT

FUNDAMENTALS

▶ and actuarial studies in Australia and soon found myself working for AMP, a big asset manager there. I was still on the actuarial path when the dot-com bubble happened. You could see the raw power of the markets and how people were sucked into this trading environment. I decided then that I wanted to go into the investment markets.” Saez joined a local asset manager called Equity Link, which led him down the fixedincome investment path. The company was taken over by Aberdeen Asset Management, which provided Saez’s introduction to the Latin American markets and eventually saw him move to London in 2003. He subsequently joined a hedge fund called Convivo Capital, which was started by an ex-head of emerging data at Aberdeen. “It was an exciting time to get into emerging markets. Local emerging markets were in the process of being developed, so it was a lot of hard currency stuff, and only a handful of corporates. It was less benchmark-driven

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People have been coming into the sector and not really discriminating. I think 2018 will see a lot more divergence between countries and corporates and you had the ability to use long and short positions and really take sides with a particular creditor if you liked it.” Saez joined Argo in 2011 following a year’s sabbatical, having previously left the Swiss hedge fund Tell Investments. That fund was in the process of being wound down, and Saez figured it was a good time to pause – he was also in the process of getting married. “It’s good to take a break. Sometimes you get too enclosed

in a particular market and you fail to take a broader view,” says Saez. “Sometimes the best ideas come when you’re not expecting them.” Saez and his family live in Wimbledon with their two young children. “They’ve got very thick English accents!” He laughs. The family travels often to visit family in Australia and Latin America. Saez’s favourite thing about London is the multiculturalism and the dynamic. “There’s very few cities in the world where you have so much available.” Saez’s international background must provide a unique perspective, I suggest, and he nods – everyone should travel if they have the opportunity. “To be able to experience another culture opens up a whole new level of understanding, particularly for up-andcoming analysts or researchers. Go to Latin America or visit Asia for three months, and you get a whole new world of experience, and will become a better analyst for it.” London is a good place to be to maintain a global view of investments, says Saez. He thinks he’ll stay here: “There’s a lot of exciting things going on in London. The biggest one is of course Brexit, which continues to have a huge impact.” Saez is diplomatic in his answer about how Brexit is impacting business, but: “If you slam the door on an opportunity or a market somewhere, it can then be hard to open in new markets, particularly if you’re a smaller economy relative to the rest of the world. Unfortunately, we’re finding out that some of the UK’s allies may say one thing but do something that’s entirely different when it comes to trade deals.” For all its strengths, the financial system can also be pretty fragile – Saez learned that when he watched Lehman Brothers collapse. “Confidence permeates everything else. For all your reputation, if the market loses confidence in you, it can go south very quickly.” Emerging markets have been on a good run but it’s been largely beta-driven, says Saez, who thinks that it’s time to separate the wheat from the chaff. “People have been coming into the sector and not really been discriminating. As 2018 develops I think you’re going to see a lot more divergence between countries and corporates. Being long-short as we are, we’re in a better position to disseminate what’s a bad credit from a good one.” H


HEDGE

A GLOBAL PLAYER PETER CRUDDAS is

founder of online trading company CMC Markets. Here he talks us through his past, how the industry has evolved, and what’s coming up next

How did you get into this industry, and how did CMC Markets come about? I left school at 15 and secured a job operating a telex machine for Western Union. Over the next few years I found myself working for a bank in their telex department and soon after that I was promoted to the trading room, where I handled trading deals on telex machines. After working at a number of different banks, in 1989 I decided that I would like to move into consulting, advising companies on how to hedge forward risk, and created CMC Markets, aged 35. However, I found the work I was doing was too slow, so I turned the company into a brokerage. Not long after that the internet arrived, fundamentally changing the way businesses operated. From the second I read about it, I was completely swept away by the internet’s capacity for innovation. In 1994, I started my crusade to create a trading platform where individuals could buy and sell financial products online. That was really the beginning of the CMC Markets journey. In 1996, we launched Europe’s first online trading platform, and changed from a

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small boutique business into the truly global player we are today, with clients in 70 countries around the world. What makes CMC Markets different to other trading firms? At the centre of CMC Markets’ culture is the belief that we are here to help our clients. This is underpinned by several of the features on our platform, all of which are designed to help clients trade more effectively. We offer features like guaranteed

stop-loss orders, price ladder technology, automated order execution, pattern recognition tools, educational material, and easy-to-navigate client message boards. We don’t compromise on investing in new technology, either. Our commitment to this has played an important role in driving innovation, so it’s hugely important to us that we keep investing in technology that allows us to continue to innovate. I also believe that my own experience and involvement in CMC Markets sets us apart. I’ve been working in this industry for a long time and built CMC Markets from scratch. I’ve seen what works and what doesn’t, and I’m still very involved in the day-to-day running of the company. Client retention is also very important to us, so we are always trying to enhance all areas of our service to give our clients a world-class trading experience. One of the keys to our success is to always have the best trading platform available in the market. How has the industry evolved since you founded CMC Markets? First of all, the financial markets are more


PROMOTION CMC MARKETS

▼ THE RISKS: Spread bets and Contracts for Difference (“CFDs”) are leveraged products and carry a high level of risk to your capital as prices may move rapidly against you. It is possible to lose more than your investment and you may be required to make further payments. Digital 100s and Countdowns carry a level of risk to your capital as you could lose all of your investment. Invest only what you can afford to lose. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice.

accessible than ever before. I can trade on the go, on the golf course or while I’m getting my morning coffee, all from my mobile phone. Technology has brought transparency and accessibility to the masses and driven down trading costs. The financial markets have never been more accessible to the retail investor. How is CMC Markets responding to increased scrutiny on leveraged products, particularly with regards to ESMA’s new requirements on CFDs? We welcome regulation that improves the industry and protects inexperienced clients. It is important these clients fully understand the risks involved in trading on leverage. For our more experienced clients, that meet the professional client criteria, we are launching our CMC Pro account. This is to ensure that they have time to opt up to professional status ahead of the new regulatory changes for retail clients. By opting up to professional status, our experienced clients will be able to trade on existing leverage limits and carry on as they have been previously.

What can we expect from CMC Markets in the next 12 months? There is a lot planned over the coming year, including the start of an exciting stockbroking partnership that we’ve been working on with ANZ bank in Australia. Following a transition period, CMC Markets will service more than 500,000 ANZ retail stockbroking clients under the ANZ Share Investing brand. This will diversify our international business, and I’m particularly looking forward to welcoming ANZ staff who will be moving to CMC Markets as part of the client migration process. The transaction will result in CMC Markets becoming the second-largest stockbroker in Australia, and is a major

Technology has brought transparency and accessibility to the masses: the financial markets have never been more accessible to the retail investor

MARKET LEADER

CMC Markets offers thousands of instruments including forex, indices, commodities and shares, plus powerful charting and innovative trading tools. See more on cmcmarkets.com

diversification for the business. We’re a company born from innovation and our entrepreneurial roots are still present in our culture today. Everything we do reflects that spirit, and ultimately it’s that creative drive which makes CMC Markets’ future so exciting. H For more information, see cmcmarkets.com

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FUNDAMENTALS

Life Begins at 50 In celebration of HEDGE’s 50th issue, we’ve compiled the top 50 items every fund manager needs in their life. Well, it’s good to have goals…

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HEDGE HOT 50 THE LIST

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HEESEN Heesen’s revolutionary new 83m superyacht is Maximus by name, and maximus by nature. Project Maximus will be the Dutch shipbuilder’s biggest superyacht to date. It’s designed to put the owner experience at the fore, where the unprecedented master suite has a private exterior deck which stretches the full length of the boat. The piece de resistance is the swimming pool – not only is it huge, but go one deck above it and there’s a hot tub; one below there’s another. Waterfalls cascade between the three decks linking the pools together. Go large or go home, right?

ROLEX The GMT-Master II ‘Pepsi’ takes its name from the vibrant red and blue bezel that’s garnered cult status among collectors. The use of the brand’s Jubilee bracelet, and a 70-hour power reserve, make it even more of a must-have. £6,800; rolex.com

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£POA; heesenyachts.com

MB&F MB&F turned to its main collaborator, L’Epee 1839 (Switzerland’s leading clockmaker), to create what is essentially the most beautiful weather station ever made – including a clock, barometer, thermometer and hygrometer. £46,000; mbandf.com

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PIAGET Piaget is the king of slim – and its Altiplano Ultimate 910P was the thinnest automatic watch in the world when it was launched in February. Although Bulgari may have since taken that record, the 910P’s style is timeless. £24,000 (pink gold); £25,000 (white gold); piaget.com

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FUNDAMENTALS

5

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SWAROVSKI OPTIK Swarovski Optik makes the best scopes in the world. The Z8i Riflescope is a sophisticated optical system, with 8x zoom for rapid target acquisition housed in a slim 30mm tube. Choose between four models for your perfect hunt. From £1,930; swarovskioptik.com

PURDEY When it comes to bespoke gun making, Purdey is the finest in the world. From style, to fit, to engaving, everything can be personalised. Of course, there’s no accounting for taste. One customer even asked for Margaret Thatcher’s head to be engraved on theirs. Shoot to kill? £POA; purdey.com

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DUCATI

6

The Panigale V4 is the first mass-produced Ducati motorcycle to be equipped with a fourcylinder engine. The result is a sub 3.2-second 0-60mph time and a top speed in excess of 190mph. Brutal and brilliant in equal measure. From £19,250; ducati.com

7

COACH As its name suggests, Coach’s Metropolitan portfolio bag is a good bet for use around the city – a detachable cross-body strap means you can sling it over your shoulder, and there’s a secure inside sleeve for a laptop, while the oxblood pebble leather will give your wardrobe a refined style update, too. £475; uk.coach.com

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LEICA Leicas are no longer the preserve of pros. The new CL system is easy to handle and super compact – especially when combined with the Elmarit-TL18mm f/2.8 ASPH lens, the smallest wide-angle pancake lens on the market. £3,150; uk.leica-camera.com

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HEDGE HOT 50 THE LIST

10 GLOSTER

PHOTOGRAPHS by Firstname Surname

Gloster’s Grid Square coffee table with Nero ceramic top is a vision in monochrome, providing understated elegance to any outdoor space. Add a touch of glamour with Lasvit’s roughly sculpted but still undeniably super-sleek Crystal Rock glasses. Table, £3,439; glasses, £430; chaplins.co.uk

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FUNDAMENTALS

TUMI Backpacks are back, and have been for a while. And the briefcase? Well, it never really went away. Find updated versions of both in Tumi’s Harrison collection, which manages that coveted style double: a contemporary aesthetic with classic design at its core. Back leather Horton brief, £595, and Webster backpack, £695; uk.tumi.com

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TURNBULL & ASSER It’s taken Jermyn Street favourite Turnbull & Asser more than 100 years to release a linen collection, but it’s definitely been worth the wait. Lightweight, relaxed, long-sleeved shirts are made in luxurious linen in summery shades including turquoise, orange and green. They’re ideal for warmer climes – or indeed London, if summer actually decides to show its face this year. £195; turnbullandasser.com

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HEDGE HOT 50 THE LIST

16 13

CROCKETT & JONES Thanks to a renaissance in 1950s style, the Penny loafer is the shoe of the season. The Crawford by Crockett & Jones is a perfect example – made from the finest calf leather and bark-tanned single leather soles. Pure class. £545, crockettandjones.com

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PRINCESS Princess’s S78 is not only one of the best-looking yachts to come from the British manufacturer, it’s also the best-sounding, with the most hightech music system fitted on board any superyacht as standard. That, combined with a flexible layout and social spaces, screams ‘party boat’ to us. £POA; princessyachts.com

GLOBE-TROTTER

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British luggage maker Globe-Trotter has created a special edition collection that pays tribute to the Royal Air Force’s Centenary Year. The cases feature aluminium shells that echo aeroplane fuselages. Perfect for the jet set. Prices from £1,140; globe-trotter.com

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BANG & OLUFSEN HARRY WINSTON The new Project Z12 may be just a date-only timepiece on paper, but it’s so much more in reality. It unusually features two retrograde functions – jumping hour and minute hand – and a unique, almost steampunk dial.

B&O’s BeoSound Shape is a wallmounted, modular speaker system based on hexagonal tiles that can be placed creatively on the wall in every imaginable size and pattern. With ten colour options to mix and match, the striking wireless system allows you to create your very own wall of sound. From £2,605; bang-olufsen.com

£18,000; harrywinston.com

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FUNDAMENTALS

18

HACKETT This retro holdall from Hackett is from the aptly named Curzon collection; a nod to Mayfair’s ‘hedge fund alley’. Made from textured Italian leather in three colourways, this nautical version is ideal for the ‘have yachts’. £540; hackett.com

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COACH Not only is the fit of Coach’s Plaque cut-to-size belt adjustable, but it’s reversible too, with burnished smooth leather on one side, and pebble leather on the other. Basically, it’s two belts in one. Winner. £175; uk.coach.com

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The Mountbatten holdall is a bag with some serious travel credentials – it counts both David Attenborough and Michael Palin among its owners. So, if you’ve got an adventurous streak, this one’s for you. £405; whiteshouse-cox.co.uk

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BREITLING Breitling’s new-look Navitimer Automatic is full of mass appeal. For a start, this is the first time we’ve seen a Navitimer in 38mm – a huge reduction on the hefty 46mm case – as well as having the most accessible price tag ever in the collection. Add to the mix retro detailings like the beaded and ratcheted bezel and replacing the usual B01 chronograph movement for the automatic B20 automatic movement (made in conjunction with Tudor), and you have an old-school sports watch perfect for the modern-day wearer. £3,350; breitling.com

PHOTOGRAPHS by Firstname Surname

WHITEHOUSE COX

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HEDGE HOT 50 THE LIST

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HEDGE

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FUNDAMENTALS

HARLEY-DAVIDSON If you’re a fan of Harleys, then the Iron 1200 is guaranteed to get your motor running. In this case, a 1,202cc V-Twin motor, delivering 36% more torque than its predecessor. This means increased power to blast away at green lights, and more mid-range muscle for winding through traffic. The original urban brawler, the Iron is our kind of heavy metal.

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EB MEYROWITZ

From £9,395; harley-davidson.com

This new Amalfi collection by EB Meyrowitz is the brand’s first stand-alone range for a decade. Handcrafted by ateliers across the UK, the limited-edition collection comprises five models with just 12 pieces per style. £850; ebmeyrowitz.co.uk

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SMYTHSON It’s not just you that needs to travel in style – make sure your watches arrive in one piece, too, with Smythson’s Panama watch roll, made from grey calf leather with a soft nubuck interior to keep everything sparkling.

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£325; smythson.com

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GEORG JENSEN

TATEOSSIAN

TOM DAVIES

Fine crystal is decorated with a flat thread made from pure silver in these Georg Jensen Koppel glasses, resulting in a look that’s practical but unmistakably special, too. Make sure you fill them with something deserving.

The clasp on Tateossian’s Tryptich Gear bracelet features three rotating gears made of rhodium, rose gold and black rhodium plating, sitting on a braided leather strap. Make it your own by mix and matching the clasp and leather colours.

Not only are these 66803 frames from Tom Davies strictly limited edition, each pair is oneof-a-kind: they’re made from African yak horn, notable for its wild, varied patination, so you’ll be way ahead of the rest of the style pack.

£750; georgjensen.com

£250; tateossian.com

From £995; tdtomdavies.com

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HEDGE HOT 50 THE LIST

OCEAN INDEPENDENCE The work of famed Italian designer Achille Salvagni, superyacht Endeavour 2’s interior is a masterpiece in Japaneseinspired minimalism – all smooth surfaces and zen lighting. But despite being soft on the inside, it’s hardy on the outside: it was built as an exploratory vessel with long range in mind, so you can take it far and wide. €29.5m; oceanindependence.com

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BENTLEY According to Bentley, its Bentayga Hybrid is the world’s first luxury hybrid SUV. It’s the first step by Bentley to produce an all-electric car. Power comes from a 3.0-litre V6 petrol engine mated to an electric motor. You can drive for 31 miles on electric only, while full household charge takes 7.5 hours. Inside, there’s luxury and refinemen in spades, and all with added conscience. £TBC; bentleymotors.com

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GULFSTREAM Most private jets can either go fast or go far, but not at the same time. However, every aspect of the Gulfstream G500’s design and performance is dedicated to tackling both: it can fly 5,200 nautical miles at Mach 0.85 – the only jet in its class to get anywhere near those figures. £POA; gulfstream.com

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MESSIKA JOAILLERIE

HARRY WINSTON

It’s not just the swirling design that makes this ring hypnotic, it’s the way the 6.06 carats of diamonds and 5.25 carats of sapphires glitter as they catch the light, creating an endless sparkle on the wearer’s finger.

Messika’s Move Romane ring balances classic and contemporary: the 18ct white gold creation combines a pavé wedding ring with traditional band. The three main stones represent the love of yesterday, today and tomorrow.

These dazzlers come with some impressive history – they’re inspired by the original Winston Cluster, an iconic motif from the 1940s that’s been reimagined 75 years on – in 3.20 carats of sapphires and 2.88 carats of diamonds.

£POA; graffdiamonds.com

£2,740, messika.com

£POA; harrywinston.com

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PHOTOGRAPH (Boss) by Adam Fussel

GRAFF


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BOSS If you were to sum-up BOSS’s ‘Summer at Ease’ collection, you could say it’s a ‘relaxed way of dressing up’. So, while the brand’s razor-sharp tailoring is still evident, silhouettes have been loosened, fabrics such a lightweight cotton prevail, and the colour palette is muted. This suit from the collection portrays the look perfectly – softly constructed with a subtly worn-in appearance, in an elegant shade of pale blue. £595; hugoboss.com

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EDWARD GREEN Elegant, durable and comfortable, the antique calf leather Ravenstone is the ultimate boot, and it’s built to last. Stylish and hardy, it comes in dark oak, a rich and handsome brown (suitable for equally rich and handsome men). £1,090; edwardgreen.com

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EMPORIO ARMANI The chunky soles on these muted green Derbys may seem big and brash, but it’s a look that’s all the rage. In addition, the covetable kicks are ultralight, so you can stroll your way to style success in comfort. £420; armani.com

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Boss’s Pineapple shoes have a secret. No, it’s not that they’re the best-looking sneakers we’ve seen for a while (that much is evident) – it’s that they are 100% vegan, with organic cotton laces, too. Guilt-free fashion at its finest. £269; hugoboss.com

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CHELSEA TRUCK COMPANY Four wheels? I don’t think so; six it is. Five seats? Pah. More like nine. And the price? £250k. Huh. Say hello to the Flying Huntsman 6x6 Civilian Carrier, a coach-built concept vehicle from Chelsea Truck Co that’s based (loosely) on the Land Rover Defender 110 To make room for the additional brace of tyres, it’s 880mm longer than a standard Defender. And those extra wheels aren’t (just) there for show – this is genuine six-wheel drive with a custom-built differential. £249,995; chelseatruckcompany.com

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THE GLENLIVET Where many Scottish distilleries are stuck in the past, forward-thinking The Glenlivet has just launched The Code. No cask information or tasting notes: instead, scan its code with the Shazam app and enjoy a tasting like no other.

ETTINGER

£100; theglenlivet.com

These two bridle-hide leather zipped portfolios are inspired by London-based architectural design and development studio, Echlin. The firm provided insight into the essential items a modern professional carries, and fine leather expert Ettinger took care of the rest.

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£375 (large), £245 (medium); ettinger.co.uk

LOUIS XIII

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For cognac lovers, it doesn’t get much better than Louis XIII, made up from 1,200 eaux-devie. And it doesn’t get much bigger than this – the first ever Le Mathusalem bottle. This limited edition six-litre decanter is made by Baccarat. £60,000; harrods.com

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Vacheron Constantin has a healthy habit of producing elegant sports watches that are perfect for everyday wear. This Overseas Ultra-thin Perpetual Calendar is slim-line masterpiece – especially in its latest pink gold guise. £66,500; vacheron-constantin.com

CLARET Since Eleanor of Aquitaine married King Henry II in Bordeaux in 1152 (you remember?), the British have had an affinity with claret. Whether you’re after investment bordeaux or an everyday blend, Justerini & Brooks has it covered. For more information, see justerinis.com

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PHOTOGRAPH (Glenlivet) by Paul Zak; (claret) David Harrison

VACHERON CONSTANTIN


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McLAREN In honour of Ayrton Senna – and his three F1 world championships won with the team – McLaren’s new Senna is the quickest closed-cockpit car that the marque has ever built. Its four-litre twin-turbocharged V8 produces 800PS, and you get a power-to-weight ratio of 668PS per tonne – that’s around 130 more than a Bugatti Veyron. Gulp. From £750,000; mclaren.com

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PIVOT

RIPSAW

BMW

Ebikes are a rapidly evolving sector. The Pivot Shuttle is the first eMTB to weigh under the 20kg mark. The result is that it flies up the hills, and feels as close as possible to a regular mountain bike on the way back down.

After something a little… different, you say? The Ripsaw EV2 is one of the most capable offroad vehicles ever developed, and as close to a personal tank as you can get without having a rocket-based assault gun. Mighty and mad.

It’s rare that a luxury saloon gets the adrenaline pumping, but BMW’s M760Li xDrive is no ordinary saloon. It has a 6.6 litre V12 developing 610hp, which translates to 0-60mph in just 3.7 seconds – that’s supercar territory.

£8,999; dirtmountainbike.com

£355,000; ripsawtank.com

£135,480; bmw.co.uk

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TIMELESS ELEGANCE www.henrypoole.com • T: 020 7734 5985 • E: office@henrypoole.com


HEDGE HOT 50 THE LIST

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YAMAHA Yamaha’s AvantGrand looks like an acoustic piano, sounds like an acoustic piano, but comes with all the convenience of a digital one, meaning you can play it through speakers, headphones, and never need to get it tuned. More than 5,000 Yamaha components combine to deliver an authentic acoustic experience. £POA; uk.yamaha.com

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AIRBUS HELICOPTERS The Airbus H160 is an innovative allrounder designed for performance, economic competitiveness, safety and comfort. Thanks to new blade tech, it’s quieter than the competition, too. There’s room for up to 12 passengers, so it’s ideal for transporting a small team – or a large family – in ultimate style. £POA; airbus.com

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HEDGE HOT 50 THE LIST

50 GRAFF

£POA; graffdiamonds.com

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Graff’s eye-catching timepieces rarely disappoint when it comes to visual wrist candy, but its new motoring-inspired watch takes pole position in our eyes. The GyroGraff Drive 48mm’s intricately painted dial depicts the wearer in the driving seat of a vintage car, hurtling apace along a racing circuit. It’s also a watchmaking first: a hand-carved three-dimensional golden moonphase working in harmony with two further complications. Petrolhead with a penchant for haute horlogerie? This is the watch for you.


Truly inspiring riverside homes Fairfax House Now Launched 1, 2 and 3 bedroom apartments offering a lifestyle enriched by a 24-hour concierge and residents’ club comprising pool, spa and gym facilities, cinema room, virtual golf, snooker room and wine cellar; alongside excellent waterside bars and restaurants. Prices from £800,000* Call now for further information or to arrange your private appointment Tel: 020 3797 4926 or email: enquiries@fulhamreach.co.uk Fulham Reach Marketing Suite and Show Apartment, Distillery Wharf, Parr’s Way, London W6 9GD

www.fulhamreach.com Proud to be a member of the Berkeley Group of companies

Computer Generated Images are indicative only. *Prices and details correct at time of print.


FUNDAMENTALS

It’s All Fine and Gandy Model David Gandy knows his fashion, but his involvement extends way beyond billboards and catwalks: he’s using his passion for design in a new collaboration with Aspinal of London, finds MAX WILLIAMS

THINK ‘MODEL’ AND your mind might turn to Kate Moss, Naomi Campbell, Hornby. Think ‘male model’ and you’ll promptly visualise David Gandy. (As visuals go, you could do worse.) The man from Billericay has been at the top of his game for more than a decade, even walking the catwalk for Great Britain at the closing ceremony of the London Olympics. Now he has turned designer, joining forces with Aspinal of London to launch The Aerodrome Collection by David Gandy – a selection of luggage and accessories that’s perfect for a stylish weekend away. We sat down with Gandy to talk flying, fashion, and future plans.

Firstly, nice photoshoot! Why Spitfires? We’re coming up to 100 years of the RAF. The Spitfire is a piece of design engineering that the British do really well. We have the best engineers in the world: think RollsRoyce, the Channel Tunnel. The Spitfire was the best fighter plane of its time. Without the Battle of Britain, would we be in the same position we are today? Probably not. Those guys, the few, are the most heroic guys ever. It’s one of the most beautiful things I’ve seen in the sky. If you see a Spitfire flying above you, you don’t forget it. Did you get to fly in one? Not on the day, but we will be going up in one. My first time in a Spitfire! That will be a once in a lifetime experience.

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It’s Top Trumps, isn’t it? You’d just go, “Ok, you win.” I challenge anyone to say anything bad about the Spitfire. It is one of the greatest achievements and we should be very proud. Was that always a boyhood thing? The love of Spitfires, the love of cars? The love for anything fast and noisy? Probably, yes. Is there anything better than hearing a Spitfire with its Rolls-Royce engines? Imagine during the second world war, being a soldier and seeing two Spitfires fly over to fight the Germans. That’s a hair on the back of your neck kind of experience. That heroism is incredible. So how did this collaboration come about? Did Aspinal book you? It was a very mutual thing. I was a customer of Aspinal, like I am with all my brands. I’m always a customer first of all. I love the brand. Ian Burton [Aspinal founder and CEO] lives in West Sussex, near Goodwood, where the Spitfires often fly by his house. We got talking and he said, “Wouldn’t it be

The Spitfire is a piece of design engineering that the British do really well. We have the best engineers in the world: think Rolls-Royce, the Channel Tunnel

brilliant if we did something like that?” It’s more than a decade since you made your name with Light Blue… I’m still working with Dolce & Gabbana today. I’ll have been doing Light Blue for 11 years this year: still the number-one selling Dolce & Gabbana fragrance. So, of course that put me on the map, and it was instant. That’s what gave me the platform to be able to achieve what I have since then. When people say, “You’re in fashion,” I always say, “I’m kind of in design. Creative direction.” I think something’s lacking. There are some great products out there, but I’m not seeing such creative advertising like we did in the 1980s and 1990s. I think the digital age is very disposable. The Spitfire photoshoot is a cog in the wheel – as well as working with brilliant influencers, great press. It’s part of the larger strategy. That’s the way I’ve been taught. Brands like Dolce & Gabbana don’t just create one part. There wasn’t just Light Blue – there was the commercial, the PR, the press. It was a strategy, even though it was also something that took off overnight. Do brands still do strategies? Or has social media changed the game? The clever people have a strategy, and that’s why the difference is still there. A lot of people think, “Let’s get someone with great reach and give it to them,” and that’s where it does work – but it’s part of the strategy. Now we’re used to seeing so many images on social media that nothing really surprises you anymore. It’s the same. It takes something to be super-clever, super-creative to stand out from the crowd. Technology means everyone can be a creator and come out with these incredible videos. So it does take something a bit special to get people’s attention. People’s attention span is about 15 seconds now: anything over 15 seconds and you’re off onto the next thing.

PHOTOGRAPHY by Andy Barnham

Have you ever been tempted to take up amateur flying? Get the wings? No! Driving, I’m fairly capable: I’ve got my race licence and I’m racing again next year. Flying is a big commitment, and my schedule is all over the shop, so it would be quite difficult. Maybe one day. I keep saying, “One day.” In retirement, I’m going to restore my own classic car and learn how to race properly and fly.

I thought when I was doing this, “What is the ultimate boy’s toy? What is the ultimate thing you could own?” and somebody was saying, “A classic car,” and I thought, “Spitfire.” If you said, “I own a Ferrari California 250 GT worth £15m” and I then go, “I own a Spitfire…”


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You’ve got to choose great ambassadors for your brand and great collaborators. Hopefully, that’s what myself and Aspinal have done here Do you include yourself in that? Yes, don’t get me wrong, if a commercial hasn’t got me within ten seconds I’m off to the next thing. However, when I see something good, I watch it again and again. You want to have people coming back. People don’t want to see something completely different. I see brands now using a different person for every campaign. You think, “If you look at case studies of what’s done really well – Calvin Klein and Christy Turlington, myself and Dolce Gabbana – can you not see a correlation of success?” Choose great ambassadors for your brand and great collaborators. Hopefully, that’s what myself and Aspinal have done here. It’s not just this range. We’re talking about the collaborative piece of the creative. It’s got to align with myself and the Aspinal brand.

Does your standing bring added pressure to launching personal collections? I suppose it does if you’re in the public eye.

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You starred in the London Olympics closing ceremony. How was that? I was with all these supermodels, but I just remember trying not to shit myself. We were in these trucks and they fell down. We had to walk on – I’ve never been in front of that many people in my life. It’s all a bit of a blur: I was just trying not to fall over. We all went for rehearsals in Dagenham. The glamorous side of fashion! I was the only guy and I think there was a carp about who was walking out first, who was walking out second. I was just happy to be part of it. I was just, “You know what? It doesn’t matter if I’m first or second or last. I will go anywhere, because I want to be part of it.” It was lovely to be accepted like that: as one of the top models. So, a very proud moment. Did you mind being the only man? It would’ve been nice to have someone else there. Don’t get me wrong, I’m never going to complain about being around the most beautiful women in the world. I’ve had worse days. However, it would’ve been nice to have another male representing. But even if they did it now, I’m not sure there’d be anyone else. No-one’s taken that step. Why do so few male models break through to become household names? The fashion industry has changed. A lot of industries have changed because of digital ▶

▶ FROM CATWALK TO COCKPIT: David Gandy stands in front of a Spitfire with the Aspinal of London, The Aerodrome Collection by David Gandy 36-Hour Bag.

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What decade informs your style? I’d probably go back to the style icons of the 1950s and 1960s: Steve McQueen, Paul Newman, James Dean. There’s a mystery, because there’s not the accessibility of images that we have from everyone now. Those guys were style icons, but they weren’t stylish people. They raced cars, they rode bikes, and they wore the best stuff that was appropriate to riding a bike, driving a car. Belstaff or Barbour – all those things that now we think of as stylish fashion items. That’s my kind of era, but then there’s also tailoring. I realised the other day that I was complicating things by trying to be a little bit more dressed down. I was doing it subconsciously and I thought, “Actually, what am I doing here? What am I happy in? I’m happy in my suits, shirts and ties.”

I’ve always tried to make everything tangible to the man on the street. With this collection I’m not saying, “You must go and spend £900 on a bag.” What I’m saying is, “If you like the toiletry bag, this is where you can start.” Same with the tailoring range in M&S. I’m not trying to scare people, I’m trying to simplify things for men. Men shop in a very different way to women. It’s not that you have to be in fashion; just take an interest in what you’re wearing. It’s never been about trying to get people in trend: it’s just the simplicity of getting men interested in style. So, yes, there’s pressure. But I choose stuff I’m comfortable with; I don’t follow trends. I spoke to Tom Ford a couple of times – he says sometimes he’ll have the same suit, the same shirt, the same tie, and he’ll wear that every day. It’s one style. I thought, “What a great philosophy that is.” That’s the way men shop.


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one in a cupboard somewhere. Anyway, something to perhaps show the grandkids one day. Maybe they won’t read books by then. Somebody told me they were going for stupid amounts online.

▶ and social media. Brands might not have chosen me back in 2006 if I didn’t have a big enough reach. That is how people sometimes choose talent now. Not, do they fit the campaign? Not, are they good for our brand? It’s – what’s their reach? That reach can be fake. It could be bought followers. Brands have quickly had to adapt. They’ve suddenly realised this strategy hasn’t led to sales, it hasn’t led to a good reach of people. It’s led to nothing and they’re now wanting to bring in these digital experts, and there aren’t many around. When someone’s successful – Jim Chapman is a great example. He took the bull by the horns, but a number of people tried to follow in his footsteps and haven’t quite grasped the idea of how he’s done it.

If you were starting now, would you follow the social media route? No, I don’t think I would. I use social media, but I’ve never purposely used it for that process, I use it for the brands I work with. If you want to really have that massive following you have to put every part of your life on there. What you’re cooking for dinner and eating for breakfast. I would never be able to do that. Do you own a copy of David Gandy by Dolce & Gabbana? The David Gandy book? I do. I think I one up on the bookshelf and I’ve got another

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How did you cope with waking up and seeing your face on billboards worldwide? It’s very alien at first. You’re obviously very proud and excited to have been part of that. I still am. It’s just about keeping grounded. You have the people, and it seems to be the younger generation, who are not famous yet and they think that they have to act like a famous person. They expect to be given stuff by people, and it’s very, very strange. My family and friends would never let me get big-headed or above my station. Hopefully, I’m still that today. People come up to me and go, “You’re very normal.” I’m not sure what that means, by the way – whether normal is good… Definitely. You aren’t walking around in fur with someone holding your suitcase… Only on a Sunday. But why should I? I’m not someone who thinks I’m better than anybody else. No-one is better than anyone else and no-one should think that. How long will you keep modelling? Obviously, I’m in this campaign as a model and a collaborator. The modelling is easy compared to what’s gone on behind the camera. In terms of straight modelling, I don’t really do it any more. I’m not on the runway. I’m not shooting with different brands. They are all my projects, they are collaborating. I have equity or licensing deals. It’s business now, and I already much prefer being behind the camera. Will I ever come out of the fashion industry? Probably not. Hopefully, it’s where I’ll be for a long time. You’ve directed a couple of short films… Directing was me not wanting to be on the screen, but very much having that creative role behind the scenes. I’ve always had that vision; I’ve always had ideas. It’s getting a team together to create that vision. Could I do a whole film? No, I’m not ready for that. I haven’t got a clue what I’m doing yet. However, I would maybe do a TV commercial, then maybe a music video, then you step up from that.

Never tempted by acting? I’m not an actor. I was never an actor. But I got offered a few things here and there. Including Fifty Shades of Grey? No, that was always just a bit of a rumour. Once I got a script and I spoke to the author, and she said, “Please have look at it.” But it wasn’t for me. Jamie Dornan is an absolutely incredible actor, and Jamie wanted it. He aspired to be an actor so he had that passion; I had the passion to be successful in the fashion industry. I much prefer directing people, though. Where do you see yourself in a decade? I don’t know! Would we have known social media was going to be our future ten years ago? Of course not. What will come in the next ten? I have no idea, but hopefully I’ll have a good time doing it. H The Aspinal of London, The Aerodrome Collection by David Gandy is out now; aspinaloflondon.com

AERODROME COLLECTION 24-HOUR BAG – £695 “One of my favourite pieces. I call this the overnight bag. One of my pet hates is shoes within one compartment, so we did the shoes in different compartments: you put a shoe one side and a shoe the other side to keep them completely separate from your clothing. It’s a nice size for a gym bag or a day bag.”

BACKPACK IN SMOOTH TAN – £795 “Backpacks are in fashion and I haven’t seen a backpack that personally I would like to wear. We looked at the design of almost a parachute, while the tan leather ribbing is inspired by the seat of a Spitfire. The separate compartments mean when you’re travelling you don’t have to open up the whole thing.”

TRAVEL CARRIER – £595 “Travelling I have to carry my laptop bag, my weekend bag and a suit-carrier. So I said, ‘Can we design something that if I was going away for the night I can fit everything in?’ We created this piece: it’s quite a substantial bit of kit, but you can put it in the overhead compartment.”


EVENT SPACES REIMAGINED themarylebonerooms.com 47 Welbeck St, Marylebone, London W1G 8DN /TheMaryleboneRooms @themarylebonerooms


TR E ASUR E ASSET S

Yvonne Domenge is inspired by the natural world and a love for space and light IN FINE FORM . 072 WHISKY . 066 | SCULPTURE . 072 | CONTEMPORARY ART . 081 | JEWELLERY . 085 | WATCHES . 086


TREASURE ASSETS

Eastern Promise Japanese whisky is among the world’s finest, and the story behind its rise to prominence is captivating. Author of the ultimate whisky connoisseurs’ book, ‘The Art In Whisky’, JON PURCELL tells all

PHOTOGRAPHS PHOTOGRAPHS by Firstname by Jon Surname Purcell

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THE STORY GOES that whisky was introduced to Japan by Commodore Matthew Perry in 1854, on his ‘diplomatic’ mission to reverse Japan’s 220-year old policy of national isolation. American President Millard Fillmore had tasked Perry and his team to secure trading routes and establish coal supplies for its ships, and with force if necessary. Four steam warships and two battleships arrived in Tokyo Bay on 8 July 1853. Japan recognised Perry’s superior firepower and negotiations opened. Eight months later a treaty agreed the opening of an American consulate and access to the ports of Shimoda and Hakodate for their ships. To help sweeten the deal the Americans had brought along a suite of gifts for the Emperor, including a steam train with a section of track, a collection of agricultural implements, various small arms, and a 110-gallon barrel of Scottish whisky. Other agreements followed, and Japan slowly opened for business, with goods including wine and spirits starting to trickle into the country. The two centuries of Shogun subjugation had ended, but Japan was at a distinct disadvantage and needed to catch up with the perceived progress of the Industrial Revolution. The Japanese soon dispatched ambassadors and scientists to Europe and the Americas with instructions to find and return with the very best systems of governance, education, science and technology. That’s why, to this day, you can see English influences on Japan’s navy, French influences on its bureaucracy, and American influences on its central bank. Among other things, whisky captured the Japanese imagination. There were limited and expensive imports throughout the intervening decades, domestic ▶

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▲ SAME, BUT DIFFERENT: Hokkaido, Japan’s northernmost island, doesn’t just share its looks with Scotland – it has the same chilly, moist climate perfect for making whisky.

Whisky captured the Japanese imagination. There were limited imports, so domestic producers made up the shortfall with dubious, locally made concoctions 67

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▶ producers making up the shortfall with locally produced concoctions of dubious ingredients and enigmatic names. Queen George Scottish Whisky was one such tipple which definitely did not come from

In 1918, the Settsu Sake Brewery Company sent young chemistry student Masataka Taketsuru to Scotland to learn the secrets of making whisky 68

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Caledonia, nor had been anywhere near a pot or column still. An apocryphal story from the period talks of a ‘Scotch whisky’ labelled ‘made with Scottish grapes’ and another coming from ‘Leith, London.’ The reality was, there were many offerings made with neutral alcohol, mixed with sugar, spices and other flavourings, but none of them were real whisky. An early attempt by the Settsu Sake Brewery Company in late 1918 saw them send an enthusiastic, young chemistry student to Scotland to learn the secrets first-hand. It was an inspired decision. Masataka Taketsuru’s thirst for knowledge knew no bounds. On his arrival, he enrolled on an applied chemistry course at Glasgow

University. Then in search of practical tuition, he headed north to Elgin to seek out JA Nettleton, the author of an exhaustive guide to the whisky industry. Nettleton’s book, The Manufacture of Spirit: As conducted in the Distilleries of the United Kingdom, had already become Taketsuru’s bible, and he was painstakingly translating its 450 pages into Japanese. Nettleton’s suggested fee was £15 a month, plus a few pounds more for accommodation, but this was way, way beyond Taketsuru’s fragile budget. Today, that £15 fee for revealing the age-old secrets of Scotland’s distilling tradition seems a bit of a bargain. Undaunted, and armed with a map of


WHISKY JAPAN

In autumn 1920, Taketsuru travelled back home. With his amassed fund of knowledge, he was now Japan’s pre-eminent authority on whisky Speyside’s distilleries Taketsuru set out to visit each one in search of an apprenticeship. He struck lucky, at Lonmorn, only the second he called at. The general manager, JR Grant agreed to take him on. For a week or so he was imbued with the technicalities of the distillery, recording every minute detail in his journal before returning to Glasgow to take up his studies. At the end of his first term in December 1918, he met a young medical student Ella Cowan. Invited to visit her family, he was soon living as their lodger. Jessie

Roberta, her elder sister, known as Rita, had little idea how much her life was going to change forever. Over the next year she and Taketsuru formed a strong bond through a shared love of music and literature and on 8 January 1920 they got married in Glasgow. However, Rita’s mother was outraged when she heard of the union and called for it to be annulled. Taketsuru’s parents disapproved too, but the headstrong, young couple were adamant and started their married life in Campbeltown, where Taketsuru had secured a six-month apprenticeship at the Hazelburn distillery. In the autumn of 1920 they boarded a steamship bound for America, travelling overland to San Francisco and then onward to Japan. With his amassed fund of knowledge Taketsuru was now Japan’s preeminent authority on whisky. But there were difficulties ahead. The Settsu Sake Brewery Co was suffering. Incessant inflation and destructive speculation on the newly-formed stock market had temporarily destabilised the

economy. Settsu was reluctant to act on Taketsuru’s new-found knowledge. Frustrated, Taketsuru left the firm but in 1923, while working as a high school chemistry teacher, he was head-hunted by Shinjiro Torii, a pharmaceutical wholesaler, beer brewer and wine importer who’d recently founded the Kotobukiya group, which was later to be renamed Suntory. Torii employed Taketsuru to set up Yamazaki, Japan’s first true whisky distillery, near Kyoto, in 1924. The Yamazaki distillery’s first whisky, Shirofuda ‘White Label’ went on sale in 1929. With the distillery up and running, Taketsuru was moved sideways and put in charge of a beer brewing operation the company were establishing in Yokohama. Disenchanted and feeling the need to get back to his true calling, he resigned at the end of his ten-year contract and set about finding investors for his own project. His wife Rita had been teaching English and piano, and it was through some of her wealthy clients that Taketsuru was able to ▶

▲ WHISKY POWER: Nikka up in lights. The distillery is one of Japan’s biggest and most popular, its main competitor being Suntory [the brand’s Hibiki whisky is pictured, left].

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THE ART OF WHISKY Spiorad Publishing has released the ultimate whisky connoisseurs’ book, The Art In Whisky, which celebrates and illuminates one of the world’s most iconic spirits, as seen through the eyes of internationally acclaimed and awardwinning photographer Jon Purcell. From the grain to the bottle, you are taken on an odyssey from whisky’s Celtic spiritual home, across seas and continents to investigate production and meet those involved in its crafting. The strictly limited, lavish, handnumbered volumes feature stunning spreads, each an individual work of art. From £450. For more information, see spioradpublishing.co.uk

▲ STILL IN THE GAME: With just two stills, the Chichibu distillery in Sendai isn’t a direct competitor to Nikka and Suntory at present, but its whisky has achieved cult status.

▶ gain the financial support that he needed to start his own company. Taketsuru passionately believed that to produce whisky on a par with the Scots, he needed to remain faithful to their whole approach. The environment where the distillery was to be established was vital. After much research he had found a site in Yoichi, a small fishing village, on Japan’s northernmost island of Hokkaido. Surrounded by mountains on three sides, with the sea on the forth, its cold, moist climate was as close as he was going to get

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Ironically, the war proved a blessing for the distillery. Through the years prior to the conflict, the Imperial Japanese Navy had taken to importing Scottish whisky ‒ it was their equivalent to the British Navy’s rum. When war broke out, imports from enemy countries were banned. To ensure they wouldn’t go without, the Yoichi distillery was designated a naval installation. Classified as a vital war industry, Yoichi was able to circumnavigate rationing and continue to source large volumes of barley and coal. At the end of hostilities it continued to be a military supplier, only now to the US occupying forces. As Japan began its spectacularly successful post-war reconstruction, whisky became a very fashionable drink. It was aspirational, western and modern. Japan’s newly affluent drank imported Scotch and the increasingly high-quality malts from its two homegrown distillers. Suntory had survived, too – and so began one of the most legendary rivalries in Japanese corporate history. H

PHOTOGRAPHS by Jon Purcell

Masataka Taketsuru passionately believed that to produce whisky that was on a par with the Scots, he needed to remain faithful to their whole approach

to Scotland’s in Japan. Another plus was, since the Sapporo Beer Brewery had been established in 1876, barley was now being successfully cultivated on the island. In 1934 with backing in place Taketsuru and Rita moved to Yoichi to oversee construction of his new distillery. The company was called Dainipponkaju, which loosely translates as dai – great, Nippon – Japan, kaju – fruit juice. The Great Japanese Fruit Juice Company. Taketsuru was well aware that the best whisky takes an age to age. His plan in the meantime, to keep the wolf from the door and his investors happy, was to produce cider, and apple wine. His first whisky was released in 1940 and sold under the muchshortened name of Nikka. The following years were to prove difficult for Rita. When war broke out in 1941, she became a target of suspicion and dislike, both from her neighbours and Japan’s security departments. Her marriage and subsequent nationalisation allowed her to remain in Japan, but she was constantly watched.


Gavin Gardiner Limited ----------------------------------------------------------------------------------------------------------------

Auctioneers of Fine Modern and Vintage Sporting Guns, Ries and Accessories

Sporting Guns at the Gleneagles Hotel Auction: 27th August 2018 Entries Now Invited

Malcolm Appleby The "Phoenix Gun", completed 2012 Estimate upon request

For over 50 years Record Prices for Sporting Guns have been achieved at the Gleneagles sale. Held two weeks in to the Grouse shooting season, the unique location and atmosphere of The Gleneagles Hotel has seen this sale achieve a status like no other. To discuss consignments, or to make an appointment for a free valuation of your guns, call us now:

Tel 01798 875300 www. gavingardiner.com

Forthcoming Free Valuation Days: Paris, France Birmingham Harrogate, N. Yorkshire Sotheby's London Pulborough, Sussex Tiverton, Devon Sotheby's Edinburgh Glasgow Scone Palace Gamefair

23rd May 7th June 13th June 15th June 18th June 22nd June 27th June 28th June 29th June


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ART SCULPTURE

In Fine Form From abstract shapes to ethereal wildlife, contemporary sculpture comes in all shapes and sizes. MELISSA SCALLAN picks out five of her favourites

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◀ ENDLESS BLUE (WALL): by Merete Rasmussen, 2016, ceramic; works range from $9,000-$15,000; courtesy of J Lohmannn Gallery.

Merete Rasmussen The twisting, looping, curved forms by Britain-based Danish sculptor Merete Rasmussen have become bigger and bolder over the years – to the point that she now works in bronze when making sculptures beyond a certain size. The mid-size ceramic pieces, however, remain hand-made and kiln-fired. Elaborately designed in thin clay, they are fragile and heavy and liable to cracks and distortions prior to the first firing. But having worked with clay for many years, Rasmussen has devised a way for these flowing, curvaceous, spiralling pieces to maintain their shape throughout the process. Her decision to add eye-popping matt glazes in reds, blues, oranges and yellows is both to emphasise the shape of the pieces but also to add a sense of strength through their vibrancy. Endless Blue is one continuous piece of coiled ceramic with a focus on the inner shape. It’s a wall-hung sculpture that plays on light and shadow, where different elements and planes are highlighted depending on the direction of the light source. Rasmussen’s work is in a number of collections including the Victoria & Albert Museum where a fabulous, large, red, freestanding sculpture is on display in Room 141, Contemporary Ceramics. For more information: jlohmanngallery.com

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or plaster. For the smaller pieces she then works with a digital designer to replicate the model or, if the sculpture is large-scale – for example, a tree, a huge mandala, or even a swirling staircase – she engages a team of engineers to realise her design. Domenge’s works are in collections worldwide. In 2015, during the Mexico UK Year of the Arts, a bright red, 2m in diameter, marine-inspired sculpture called Coral Coquino was installed on Bank Street in Canary Wharf. For more information: domenge.com A monumental sculpture by Domenge will be exhibited at the Museum of Contemporary Art of Tamaulipas, Mexico, in July 2018.

▲CAMINOS: by Yvonne Domenge (2016); stainless steel; 100cm by 70cm; courtesy of the artist.

PHOTOGRAPH (Domenge) by Gerardo Landa; (Burberry) Nick Clark

Yvonne Domenge The works of Mexican sculptor Yvonne Domenge are inspired by the natural world and a love for space and light. Her sculptures tend to have smooth surfaces and a purity of line but she varies the elements: forms are both figurative and abstract; mediums include bronze, stainless steel and wood; colours might reflect the natural hue of the material or are vividly painted; shapes may be geometric or irregular; and sizes vary from smaller, intimate sculptures, such as Caminos, to monumental installations several metres in height or diameter. After sketching out her design, Domenge carves a maquette – a scale model – in wood


ART SCULPTURE

Caro Burberry Driving through a Worcestershire park late one night, English sculptor Caro Burberry caught a flash of a deer in her headlights. As it silently leapt behind some trees, she was struck by its “angelic, miraculous, quite ethereal” nature. Burberry works in cast iron and bronze. She creates cast iron sculptures in Indiana, where she works with a team of engineers and fabricators, and makes bronze sculptures in the UK, where bronze casting foundries are more accessible. Expressing her appreciation for the material, she exclaimed “I absolutely love hot, poured metal!” Describing herself as “an explorer rather than a copier”, Burberry’s intention is not to create a lifelike sculpture but to strip away all unnecessary diversions – literally chipping away at an object to simplify it – whilst retaining its recognisable shape. To this rationalised form Burberry then isolates and enhances one aspect that gives the object its essence. The body of Miraculous Stag – the deer from the park – is simplified in line while his antlers are transformed: rather than hard bone and a weapon, the overgrown antlers now appear as wings in flight, and he has become something altogether more magical and mystical.

▶ MIRACULOUS STAG: by Caro Burberry (2014); bronze; edition of nine; 34cm h x 26cm x 16.5cm; £5,950; courtesy the artist and GreenStage Gallery.

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ART SCULPTURE

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Pablo Atchugarry Uruguayan sculptor Pablo Atchugarry is known for the smooth, undulating folds of his graceful, sinuous, abstract sculptures. During a career spanning some 40 years, he has produced both small, accessible pieces and vast, monumental works for public display. Creating the smaller forms, such as Untitled (2015) is an intimate, contemplative process where he “listens to the gentle and delicate voice” of the marble. Working on large-scale pieces, however, is a much more intense physical process – unsurprising when they include works such as Cosmic Embrace: a mammoth 8.5 metrehigh, twisting artwork carved from a block of marble weighing a whopping 56 tonnes. Atchugarry’s method is that of a traditional sculptor: he draws directly onto a block then carves away at the material to reveal curves, folds, apertures and vertical lines that appear to stretch and reach upwards: “They are like plants, they seek the light”. A master craftsman, he then refines and burnishes the material, to achieve a smoothness that subtly references the flesh of the body and the flowing, fine drapery of classical sculpture. Atchugarry divides his time between Italy and Uruguay where, set among a 30-hectare sculpture park surrounded by lakes and lawns, he’s created a foundation to promote the arts. For more info: fundacionpabloatchugarry.org and pontonegallery.com. An exhibition of Atchugarry’s work will be held in the Opera Gallery, Paris, 1-22 June 2018 and in the Boon Gallery, Knokke, 19 July-20 August 2018.

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▲ UNTITLED: by Pablo Atchugarry (2015); 50cm x 30.5cm x 21cm; courtesy of Pontone Gallery

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ART SCULPTURE

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Sandra Davolio The focus of the Danish Design School in the 1980s, where Italian Sandra Davolio trained, was to create objects according to the principles of functionality, simplicity and clean lines. While adhering to these directives at the time – and politely producing useful, practical, plain objects – Davolio is no longer constrained. Her interests in naval archaeology finds, objects from ancient Mediterranean cultures, and prehistoric fossils are fully realised in her decorative sculptures. Undulating Lines has the diaphanous, delicate, wave-like features of a sea flower preserved in the moving tide. Davolio’s sculptures typically begin at the wheel and, with a nod to Danish Design,

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are classically shaped, for example, as bowls or vases. However, she regards these simple, unadorned objects as “naked and in need of protection” so adds porcelain chunks to their surfaces, then works the clay until it’s transformed into fine layers and refined bands. A fragile and temperamental material, porcelain presents risk at every stage of the creative process and works are often discarded midway through: “I never know how many pieces will survive the big hammer I have in my workshop!” Davolio’s work is in a number of collections including New York’s Museum of Arts and Design and the Cooper Hewitt, Smithsonian Design Museum. H For more information: jlohmanngallery.com

▲ UNDULATING LINES: by Sandra Davolio (2016); porcelain; 30cm h x 25cm diam; works range from $5,500-$12,000; courtesy of J Lohmannn Gallery


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Romane Collection with Gigi Hadid

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ART INVESTMENT

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Change of Art The founder of Artuner

EUGENIO RE REBAUDENGO on

the seven contemporary artists worth investing in right now

EUGENIO RE REBAUDENGO is the

son of the prestigious Italian art collector Patrizia Sandretto Re Rebaudengo. He is on the board of the Fondazione Sandretto Re Rebaudengo, which was set up to support and promote contemporary art and artists. In 2013, he founded Artuner, an innovative art platform that sells both online and at exhibitions worldwide. Here are seven of his favourite artists to invest in right now…

IMAGES by David Czupryn; Rebecca Salter (Dario Lasagni/FXP Photography); Patrizio Di Massimo (Cassina Projects). All images courtesy of the artist and Artuner.

1. David Czupryn David Czupryn’s surrealist paintings are poetic assemblages at the intersection between reality and dream, nature and artifice. Czupryn likes to incorporate subtle cross-references to and quotations of other artists he’s inspired by; look closely and you’ll spot a Naum Gabo head or a Hans Bellmer sculpture. Using his incredible painting technique, Czupryn creates trompe-l’oeil effects such as faux-marble or wood on a deceptively flat canvas. He has already won two prestigious art prizes in his native Germany and his outlandish stilllives have been exhibited alongside the likes of Pablo Picasso, Georges Braque, Tony Cragg and Georg Herold to name but a few. Czupryn has his first major institutional solo show in Germany this year. 2. Rebecca Salter Rebecca Salter RA is a terrific artist living and working in London who was elected as the Keeper of the Schools of the Royal Academy in 2017. Her art is greatly influenced by Japanese traditions and techniques such as calligraphy, as she lived

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there for many years. Her beautiful abstract paintings have an ethereal quality, which is both calming and intellectually challenging. Salter has been an artist in residence at Lofoten in Norway and the Josef and Anni Albers Foundation, Connecticut, and has been the recipient of numerous prizes, including twice the prestigious PollockKrasner Foundation Award.

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3. Patrizio Di Massimo Patrizio Di Massimo’s figurative paintings draw the viewer into a narrative whirlwind. He defines the human body as a site of spectacle – hedonistic and mysterious, seductive and grotesque. The artist has a real flair for theatricality: perhaps it is because he started off his artistic career with works of performance and installation. ▶

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▶ Indeed, although he graduated from the prestigious Accademia di Brera (Milan) and Slade School (London), he is actually a self-taught painter. Di Massimo is based in London and is quickly gaining recognition through high-profile international exhibitions, such as those at the David Roberts Arts Foundation in London and at Hangar Bicocca in Milan curated by HansUlrich Obrist and Christian Boltanski.

and dynamic aesthetic experience. For millennials who were born into a new era of technology and sci-fi, this is where you should look to find an artist who’s pushing the boundaries between art, science, technology and fantasy. Cheng’s work has been exhibited internationally, including at MoMA PS1, Whitney Museum of American Art, Louisiana Museum Copenhagen, Fondazione Sandretto Re Rebaudengo.

4. Ian Cheng American artist Ian Cheng’s work lies at the intersection between art and science. Using a combination of cognitive pattern recognition and computer simulation, Cheng explores the mutations of the human mind through sophisticated computer algorithms. His so-called “live simulations” immerse the viewer in an evolving

5. Josh Kline American artist Josh Kline is a fantastic creator and thinker; his practice is infallibly poignant and thought-provoking. One of my favourite works is an assemblage called ‘Nine to Five’, created using 3D printing. The piece takes the form of a cleaning cart piled with a janitor’s disembodied head, feet and hands, alongside an array of cleaning products – the tools of his trade. Dissolving the distinction between the human and his labour, Kline comments on technological innovation and how it impacts on human life. For collectors who are passionate about

▼ FRESH PERSPECTIVES: [clockwise from top left] ‘Emissary Trilogy’ by Ian Cheng; Josh Kline’s ‘Nine to Five’; work from Paul Kneale, who specialises in new media art; ‘Letdown’ by Sanya Kantarovsky

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technology, AI and social issues, Josh Kline is one to keep an eye out for. 6. Sanya Kantarovsky New York-based painter Sanya Kantarovsky has been hailed as one of the art world’s rising stars. He was born in Moscow in the 1980s, during the decline of the Soviet Union, but soon moved to the United States. The contrast between life in the USSR and the US, presented through an interplay of memories and feelings, creates a jarring sensation of displacement. His dreamy figurative canvasses are touching while at the same time haunted by a kind of dark humour. They succeed in capturing your adult brain and your childhood heart all at once. With exhibitions at Fondation Vincent Van Gogh Arles and Art Basel Unlimited already under his belt, Kantarovsky is set to have an impressive career. 7. Paul Kneale I’ve known Paul Kneale for many years now, and I love his tongue-in-cheek approach to contemporary life and art. Kneale is operating in the field of ‘new media art’, a cutting-edge new area to collect in. He is interested in how the physical world is constantly translated into a digital language and his work explores the ways in which the digital facets of our existence can be manifested and reimagined in physical objects. Kneale has pioneered a new technique of ‘scanner painting’ where he uses domestic scanners to capture an impression of the atmosphere in his studio. Some of his scanner paintings have been on display at the Boca Raton Museum of Art in Florida and Kaviar Factory in Norway as well as being part of the Leonardo DiCaprio Charity Auction for his Foundation. H For more information, see artuner.com

IMAGES by (Ian Cheng) courtesy of Maurizio Elia Collezione Fondazione; (Paul Kneale) Dario Lasagni

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Sanya Kantarovsky has been hailed as one of the art world’s rising stars. His dreamy figurative canvasses are touching while also haunted by dark humour


LEADING THE NOBLE PURSUIT O F F I N E W I N E S S I N C E 174 9 Justerini & Brooks. Portfolio, expertise and personal service. Justerinis.com/discover


JEWELLERY STEPHEN EINHORN

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A Shining Example London jeweller Stephen Einhorn is a pioneer – from being an early adopter of e-commerce to crafting some of the world’s most creative bespoke commissions. We asked him what it takes to make it…

STEPHEN EINHORN ESTABLISHED

his eponymous jewellery company in 1995. Since then he has become renowned for his bespoke designs – including creations for many Hollywood films such as Allied with Brad Pitt and Marion Cotillard, Miss Peregrine’s Home for Peculiar Children with Eva Green, and Alice Through the Looking Glass with Anne Hathaway. WHAT MAKES YOU GOOD AT YOUR JOB?

I would say it’s my eye for detail and my technical skill. When you hold a Stephen Einhorn piece in your hand you immediately feel the luxuriousness of weight and quality of the jewellery. You instantly know it’s been made by us. That’s our signature, the quality and craftsmanship. I strive for excellence. WHERE WILL YOU BE IN TEN YEARS’ TIME?

We see ourselves expanding further globally. We already have a very strong presence online; our first commercial website went live in 1997. We have very loyal customers who have become collectors from all around the world, from the United States to Abu Dhabi to Australia. We would also like to open further stores in New York and Japan. WHAT DISTINGUISHES YOUR BRAND AND PRODUCTS FROM YOUR COMPETITORS?

PHOTOGRAPHS by JP Masclett

We provide a bespoke jewellery service that is not available from most other companies. We can basically make absolutely anything that you would like to commission in any material. Who else can turn an image of your classic car into a pair of platinum and diamond cufflinks; copy the first bouquet of flowers that you gave to your partner in precious metals; or create a totally unique engagement ring? Our knowledgeable and impeccable customer service also sets us apart, plus we make everything right here in our London workshops. That’s a rarity.

HOW DO YOU STAY RELEVANT?

We pay attention to what is around us and to what is being said. We listen to what our customers say. We are aware of trends, especially colours. Styles go in and out of fashion quickly so we take everything on board and make timeless pieces that give a slight nod to fashion but mainly longevity. That’s very relevant now in these new days of ecological awareness. WHAT’S YOUR PERSONAL FAVOURITE PRODUCT FROM YOUR BRAND?

The Geo collection, which uses specialist engineering techniques: I love it, I love using really tough materials mixed with precious metals, the mix of colours is wonderful. The Geo eternity ring is also very special, combining the same techniques with diamonds suspended in the middle. It is an object of real beauty and originality; I’m very proud of that.

WHAT BRAND OR DESIGNER WOULD YOU MOST LIKE TO COLLABORATE WITH?

That’s easy: Elon Musk. He is a very interesting man who is lucky enough to have enough money behind him to create new technology. I’d absolutely love to make a Thames Wood gear stick or dashboard for the Tesla, that would be pretty amazing – the old and the new together. WHAT’S THE NEXT PROJECT THAT YOU ARE WORKING ON?

I’m working on expanding our Thames Wood collection. I want to design some more men’s jewellery for it, as well as some women’s. It’s very popular and such an incredible material to work with. It’s more than 2,000 years old and was sourced from the only wooden Roman docks built in London in 63AD. It’s really quite special, and we own it exclusively. H See more at stepheneinhorn.co.uk

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Flight of the Navitimers To think that you need to fly a plane to wear a pilot’s watch is missing the point – aviation-inspired timepieces are among the most iconic around. ADRIAN HAILWOOD shares some of the best new models

▲ TIME FLIES: Breitling’s Navitimer 8 BO1 straddles the line between heritage and modern. ▶ [left] Bell & Ross’s BR0392 Nightlum; [right] Hamilton Khaki X-Wind Auto Chrono Ltd Edition.

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AMONG WATCH COLLECTORS, ‘tool’

watches are often grouped into three categories: diver, driver and flier. The first is self-explanatory while the second usually means a chronograph. The flier category can be more awkward, is it another chronograph, or is it a GMT? And then there is the problem of identification with the wearer: we all swim – even if we don’t dive; we all drive – even if we don’t race; but flying, while aspirational, is not part of our everyday lives. That said, cockpit wrist instruments have given us some of the most iconic watches of the last century, and this year’s Baselworld watch fair had the latest novelties, re-issues and reinterpretations. Breitling Navitimer 8 B01 If, in advertising terms, any brand can be said to ‘own’ the pilot’s watch it would be Breitling. Yes, many other brands make them, but Breitling has always put them front and centre of its offering. With Georges Kern coming on board, the brand is beginning to diversify, but its pilot’s collection is still leading the way. The Navitimer 8 collection features five models; a three-hander, a day-date, a world-time and two chronographs, one using the ETA7750 and the other the in-house B01. All straddle that line between retro and modern, having distinctive heritage features such as the fluted bezels but a clarity of dial design that looks bang up-to-date. No faux-aged lume here, just crisp legibility although a little more depth or texture to the dials wouldn’t go amiss. Bell & Ross BR03-92 Nightlum It’s 12 years since Bell & Ross challenged the world with its ‘ripped from the instrument panel’ square case aesthetic. So this year’s back-to-basics models might

It may not have the complex subdials and bezels of a pilot chronograph but, in a darkened cockpit, the Bell & Ross BR03-92 Nightlum wins every time

be seen as heritage pieces. Following a trend for oversized models to shrink a little, the BR03-92 Nightlum comes in at 42mm compared to the original BR01’s 46mm but makes up for it in terms of visibility. Everything other than the hands and hour markers is matte black, while the Superluminova C3 on the hands and markers ensures night-time pyrotechnics. It may not have the complex subdials and bezels of a pilot chronograph but, in a darkened cockpit, the Bell & Ross wins every time. Alpina Startimer Pilot Quartz Chronograph Alpina is one of those brands that has been around longer than you might think. Founded in 1883, it has been supplying military pilot watches since 1921. The latest edition of its Startimer range is a day-date chronograph with ‘grab-and-go’ convenience and the accuracy of quartz. Styling is simple, legible and modern with a nod to the past in the flared ‘flieger-style’ crown. Alpina offers the watch in steel with a sunburst blue dial and an all-black case with a black dial but the stand-out is the cream dial on a blue fabric strap; a perfect summer chronograph at an affordable price. Zenith Cronometro Tipo CP2 Thoroughly embracing the past is the Zenith Cronometro Tipo CP2. Originally reissued as a limited edition in 2016

and based on the sought-after military chronograph supplied to the Italian Airforce in the 1960s, this year’s models come in patinated bronze or ‘aged steel’ and are all about recreating a vintage appearance. The dials have a grained finish and show a colour gradient to mimic the effect of long sun exposure, the lume is creamy and the straps are oiled nubuck. Although not a clone of the original, the movement is automatic and the dial writing lacks the ‘A. Cairelli-Roma’, this is as close as you will get without dropping serious cash. Hamilton Khaki X-Wind Auto Chrono Limited Edition If complexity is what you want in a pilot watch then Hamilton has the perfect piece for you. Not content with a chronometerrated chronograph with tachymeter bezel, Hamilton has added a ‘drift angle calculator’ to its 45mm beast, allowing pilots to compensate for those pesky cross-winds that the watch takes its name from. It is an intricate process involving information received from the control tower, the consultation of a graph on an included card and two rotating bezels. If all of that brings you out in hives, then you could just enjoy the fact that this is the first ETA 7750 ever to be supplied with a silicon hairspring so while stray winds may push you off you course, stray magnetic fields will not affect your timekeeping. H

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▼ PHILIPPONNAT: Philipponnat’s Royale Réserve Brut offers up the signature Philipponnat traits of power and vibrancy – the perfect introduction to the house style. Both Brut and Non Dosé cuvées are a blend of 65% pinot noir and 35% chardonnay with up to a third of the blend coming from two separate ‘perpetual reserves’, the subject of much recent innovation at Philipponnat. £36.33 per bottle; justerinis.com

Summer is around the corner. Here are four favourites from Justerini & Brooks for enjoying in the sunshine 88

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Wine of the Times

▶ CHÂTEAU RIO TOR: Château Rio Tor’s 2016 rosé is a blend of 40% grenache, 50% cinsault and 10% syrah. The grapes have been carefully de-stemmed, cooled and then pressed very gently with a pneumatic press. Pale salmon pink colour, with delicious aromas of ripe mixed berries, pear and lychee, this is a superb Côtes de Provence – and great value to boot. £10.50 per bottle; justerinis.com


WINE SUMMER ▼ JUSTERINI & BROOKS: The Justerini & Brooks Dry Riesling is made exclusively by August Kesseler, one of Germany’s greatest producers of trocken (dry) white wines and pinot noir. It comes from a very steep southwestfacing, slate vineyard called Lorcher Schlossberg in the Western Rheingau. Falling well within the ‘dry’ classification for Germany, this is all about crisp, refreshing intense apple flavours and fine slate minerality. It’s pure summer in a glass. £11.80 per bottle; justerinis.com

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◀ CHÂTEAU DE MEURSAULT: Since 2012, Stephane Follin-Arbelet has been on a singleminded mission to make Château de Meursault one of the great Domaines of Burgundy. This Beaune 1er Cru from 2014 has a crisp almost chalky quality to it with vibrant notes of wild forest and hedgerow berry. It’s fermented with 30% whole bunches and aged in 35% new oak. £31.60 per bottle; justerinis.com H

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Pioneer of the modern kitchen open to life – for 125 years Poggenpohl has 21 points of sale throughout the UK & Ireland ¡ uk@poggenpohl.com For your nearest Poggenpohl Studio please go to www.poggenpohl.com/en/find-a-studio 125years.poggenpohl.com


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The new Mustang looks as mean and aggressive as ever. It is a powerful, assertive, great-looking machine MUSTANG RALLY . 100 TRAVEL . 092 | MOTORS . 100 | FOOD & DRINK . 105 | PURSUITS . 107


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A Whole Blue World Contemporary architecture meets crystal waters and azure skies at luxury resort Amilla Fushi in the Maldives, and the result is a distinctive destination with more than a little wow factor, finds TIM SLEE

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TRAVEL MALDIVES

“COME ON SHELLY, you can do it!”

“Get your arse into gear, Herb – you’ve got this one in the bag” Heart racing, sweat dripping, the tension was palpable. Not since the legendary Seabiscuit beat Triple-Crown winner War Admiral in the historic 1938 match race had there been such a close contest. Surely my bet was going to come off? But it wasn’t to be. My girlfriend lay back on her sunlounger, took a long sip of her Mai Tai, and basked in the glory of another hermit crab race victory. This is as tense as life gets at Amilla Fushi in the Maldives. – the island resort is purpose built to erase your every worry. A 30-minute seaplane hop from Malé International (Velana International Airport), Amilla Fushi is one of the Maldives’ most exclusive resorts – the likes of David Beckham and Gordon Ramsay have both stayed here. (Not together, presumably.) There are just 59 houses – a mixture of stilts over water, tree-top or beachside. Some of the beach residences go up to eight bedrooms – perfect for large families or VVIPs after proper seclusion. If you’re looking to totally switch off, the wellness treehouses take escape to a whole new level – literally. These private suites are positioned 12 metres up among the treetops, each with their own dedicated treatment rooms. They also boast cantilevered infinity pools looking out over the tree canopy; an indoor living room area with sofa and desk; a large bathroom and outdoor showers. The suites are just along from the resort’s ‘spa village’. Situated under a canopy of banyan trees, Javvu Spa has ten private treatment pods, a fitness centre, personal training studio and an outdoor ‘jungle gym’. Yoga, pilates, meditation and pranayama are led on the spa jetty over the lagoon.

It doesn’t matter how many photos you see or magazines you pore over, nothing does justice to that Maldives blue – piercing, bright, #nofilter blue

And what a lagoon. It doesn’t matter how many photos you pore over, nothing quite does justice to that Maldives blue – piercing, bright, #nofilter blue. The food is off the chart, too. Amilla’s main foodie hub is aptly named Baazaar – it’s diverse, buzzy, informal. Here there’s a pizza place, a fish and chip joint, and the new Barolo Grill. It feels strange to go for Italian cuisine in the middle of the Indian Ocean, but fresh handmade pasta tastes just as good in paradise as it does in Piedmont. There’s also a wine shop, and a gourmet deli – amusingly named the Emperor General Store – that offers sandwiches and fresh fruit if you want something a little lighter. For a more sophisticated affair, opt for some overwater dining at the signature Feeling Koi – think sushi, nigiri and sashimi in Japanese-inspired minimalist surroundings. It’s just you, the food and *that* ocean view. Where much of the Maldives seems reserved for honeymooners, Amilla makes a point of being open to all. We didn’t see many kids, but then perhaps that’s a sign of how good the kids’ club is. Amilla’s HUB (Home of the Underwater Biosphere) is the island’s water centre,

◀ THE WIDE BLUE YONDER: Amilla Fushi’s Lagoon Villas. ▲ [clockwise from bottom] explore on the resort’s dhoni; the pool at the Amilla Estate residence; take time out in a tree-top infinity pool

offering everything from adrenaline-fuelled water sports to boat charters (choose between a traditionally hand-crafted 20m Maldivian dhoni or the 13m luxury cruiser Vismara). It’s also where the resort’s comprehensive Marine Biology programme is run from. Aside from the water-based fun, there are two palm-fringed, floodlit tennis courts, which benefit from pro coaching served up by current and former ATP players. But, to be honest, the only sporting competition we can muster is the impromptu beach races between the island’s resident hermit crabs. ‘Amilla Fushi’ translates as ‘my island home’. I could definitely get used to this. H Elegant Resorts (01244 897 294; elegantresorts.co.uk) offers seven nights at Amilla Fushi from £3,625 per person – saving £3,920 per couple. The price is based on two adults sharing an Ocean Reef House on a half-board basis, return economy Emirates flights from Gatwick, private transfers to and from the airport, and UK lounge passes. Price is based on a departure date of 1 June 2018.

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Tactical Retreats These destinations are more than just places to get away from it all – they will re-charge your mind, body and soul, says SAFI THIND

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from maintaining a youthful appearance to greater energy and fat shedding all the way to improved wellbeing and mood. Getting there involves, in a nutshell, reducing your calorie intake. So reduced, it is. The strictest of diets offers no more than 600 calories a day, comprised of repetitions of crackers, spreads and bouillon (maybe an egg or some fish on a cheat day). The emphasis is on silent and considered eating. Your soup spoon is half a teaspoon in size.

And chew each morsel at least 30 times. It’s all quite anathema to my usual diet. Then there is the daily dose of Epsom salts which result in conveyer-belt trips to the toilet. Optional colonic irrigation, vitamin drips, supernatural osteopathy sessions, lymphatic drainage massages, hay bags, meditation and saunas will see your insides scrubbed clean. Unlike its cousin down the road, Viva Mayr, which attracts a more Soviet clientele

PHOTOGRAPHS (lead) by Simone Attisani ; (Spa Marie) Clement Bonvalot

The Original FX Mayr, Maria WorthDellach, Austria On the banks of Lake Worthersee, surrounded by the Alps, is the original wellness clinic. Situated in the ‘St Tropez of Austria’, this spa takes its ‘cure’ from one FX Mayr, an Austrian physician who laid down a principle of intestine management at the start of the 20th century. The Original has been promoting its therapy here since the 1970s and the place promises much –


TRAVEL WELLNESS RETREATS

Schloss Elmau, Bavaria, Germany Schloss Elmau is simply, quintessentially Alpine. The cuckoo-clock wooden houses tinkle in the fresh mountain air and the snowy peaks are pure Heidi. In this wholesomely beautiful landscape sits Elmau castle, built 100 years ago, by one Dr Johannes Müller, which has treatments ranging from Chinese medical massages to cupping and moxibustion as well as acupressure and Ayurvedic practices. Unusually for a wellness resort, it also has a library and beamed concert hall which has enticed some of the most famous musicians and literary figures from Ian McEwan to Yehudi Menuhin and Benjamin Britten. The place even hosted the G7 Summit when Obama, Merkel, and Cameron came to appreciate its understated luxury. For more info, see schloss-elmau.de The Grand Resort Bad Ragaz, St Gallen, Switzerland Bad Ragaz bases its philosophy on the health-giving properties of the local thermal water which has been pumped in from the nearby Tamina gorge since 1840. It is a very state-of-the-art affair staffed by more than 70 doctors and therapists skilled in dermatology, internal medicine, vein treatments and sports-injury rehab. Aside from the water they offer pretty much every cure you might want. From dental work to lasers for the skin right through to treatments for the eyes, and lots of dietary advice. No wonder athletes like Roger Federer and the Swiss Olympic team come here to recover. For more info, see resortragaz.ch

and comes with a deluxe boutique in the foyer, the Original is homely and familial which helps you get through the experience. The first few days are painful. Hunger pangs are constant and sleep rough. But then miraculously a feeling of wellness takes over. You feel alive, more energetic. And when you return home you will – all things being well – emerge from your dark cocoon a shiny, sparkling butterfly. For more info, see original-mayr.com

appears to drop off into the view with its floor-to-ceiling glass windows. For more info, see sixsenses.com Hotel Le Cep and Spa Marie de Bourgogne, Beaune, France Beaune may be most famous for its incredible wines, but the five-star Hotel Le Cep is much more than a gateway to Burgundy. This beautiful medieval property is also home to the award-winning Spa Marie de Bourgogne. The 350sq m spa – with its high wooden beams and a mural fresco representing the local vineyards – is comprised of 12 different sensorial experiences. Facilities include aquabiking, a hammam, a sensorial shower and a relaxation corner with heated beds. There are a range of high-tech treatments on offer, ranging from chromotherapy (for your physical and mental wellbeing) to cryotherapy (for treating all types of cellulite). The spa also makes use of locally produced Vinésime products – cosmetics made from extracts of chardonnay and pinot noir grapes grown in the Burgundy region. Just make sure you don’t drink any of it. For more info, see hotel-cep-beaune.com ► ◀ FULLY DECKED OUT: At The Original FX Mayr your calorie intake is minimised, but views are maximised. ▼ Dramatic high ceilings and stained glass at Hotel Le Cep’s Spa Marie de Bourgogne.

Six Senses Douro Valley hotel and spa, Douro Valley, Portugal Six Senses in the Douro Valley, could, in theory be a retox place. The wellness comes with wine and local presunto cured ham and cheese, tasted in a renovated manor house which used to belong to a noble Portuguese family. The resort ranges across 22 acres and you are encouraged to go walking in the woodland, try aerial yoga or spend the day meditating in pods hung from ancient trees. Spa treatments use a variety of bespoke concoctions, like olive oil butter, citrus and raw sugar. Go ahead and indulge yourself. Or just chill out in the heated pool that

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Modern Elegance

Setting · Authenticity · Choice · Service To book please contact reservations on 01225 823333 or email info@royalcrescent.co.uk The Royal Crescent Hotel & Spa, 16 Royal Crescent, Bath BA1 2LS 01225 823333 info@royalcrescent.co.uk royalcrescent.co.uk I #RCHBath


TRAVEL WELLNESS RETREATS

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Ananda in the Himalayas is absolute bliss. Set high up on a spiralling ride through the mountains over 100 acres, it is built into the back of a maharaja’s palace Ananda in the Himalayas destination spa resort, Garwhal, India Ananda is bliss. Set high up on a spiralling ride through the Himalayas over 100 acres, this resort is built onto the back of a maharaja’s palace, two guns pointing out in salute to your entry. But show cannons aside, the place is really dedicated to helping you find inner peace. The retreat follows the Ayurvedic tradition, the 2,000-year-old healing practice which, at its heart, is about balance of mind, body, soul and senses. You’ll be welcomed by a smiling Ayurvedic doctor who does a run-down of your bio-elemental type (dosha) – one of three from vata (air), pitta (fire) or kapha (earth). Based on this they assign you a diet. The emphasis is on moderation – more vegetables, less meat, alkaline foods. On top of this is layered a health programme of breathing, meditation and exercise – not obligatory but as it suits your body. The yoga teachers have a deep knowledge of their practice and the yoga sessions are of the highest order. Indeed,

walk around the lush grounds and take yoga in the vibrating pavilion and hear your energy resounding through the air. The place also specialises in massages – copious massages of all different kinds. You’ll find yourself slipping and sliding on the tables as you’re kneaded, dripped, rubbed and scrubbed with Ayurvedic oils, salt, yogurt and turmeric mixes and other combinations of special natural ingredients needed to heal your body. The cocoon massage is a particularly special experience, with the feeling that delicate hands are lifting you out to an ethereal plane. The treatment is very much more intuitive than hard-ruled western medical mores. But, by the end of it, you can’t help but feel returned to your inner harmony. Fore more info, see anandaspa.com Royal Crescent Hotel & Spa, Bath, UK For a wellness retreat a little closer to home, head to the famous Royal Crescent Hotel & Spa in Bath. Behind the five-star hotel’s impressive Georgian façade there is an oasis – an acre of walled gardens and the most luxurious spa escape in the city. The recently renovated Spa & Bath House, set in

▲ PAUSE FOR REFLECTION: Ananda in the Himalayas is dedicated to helping guests find inner peace. ▼ Renovated in 2016, the Royal Crescent Hotel’s spa is an oasis of calm and tranquillity

a beautifully converted coach house, is the perfect location to rejuvenate and relax. There’s a 12-metre heated relaxation pool, vitality pool, Himalayan salt-infused sauna and a blossom steam inhalation room. Working closely with award-winning skincare brand Elemental Herbology, the Spa & Bath House offers specifically designed treatments such as the Royal Crescent Signature Treatment; incorporating three key areas of the body with a bespoke holistic approach. Rooted in Chinese medicinal practices, the treatments consider not only skin type but also lifestyle, environment and the season to achieve optimal results based on individual ‘elements’. After your treatment, slip into a fluffy robe and relax in the Taittinger Spa Garden surrounded by aromas of flowers and herbs. You’d never believe you were only a couple of hours away from Mayfair. Double rooms start from £330 on a B&B basis; For more info, see royalcrescent.co.uk ►

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Almar Jesolo Resort and Almablu Spa, Veneto, Italy The Almar Jesolo resort, situated on Venice’s sparkling Jesolo beach, is home to a multi award-winning wellness centre, the Almablu Spa. This sophisticated spa is renowned for its signature skincare line, formulated with natural seaweed and plant extracts, inspired by traditional Chinese medicine to promote a deep psychophysical and energetic rebalancing. Indeed, many of the therapies centre around moxibustion – an ancient practice of traditional Chinese medicine based on the application of heat on energy meridians. They’re used in the spa’s two flagship health

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Como Shambhala Estate, Ubud, Bali Como Shambhala has a back-to-nature approach in a tropical setting among temples, natural spring pools, waterfalls and jungle. The food is healthy macrobiotic fare but delicious. There are Ayurvedic oil massages, Japanese acupuncture, yoga and qigong, balanced with anti-ageing therapies and stress relief designed to set right your psychical disturbances. If you can’t make it to Bali try the Como Shambhala Urban Escape at the Metropolitan in London which offers many

▲ MORE POOL YOU: It’s not a stand-out spa experience if there isn’t a stand-out pool, and these are some of the best [clockwise from above] Como Shambhala Estate; Almablu Spa; Villa Stephanie.

of the same body and mind treatments to give you relief from modern day stresses. For more info, see comohotels.com Villa Stephanie at Brenners Spa & Hotel, Baden-Baden, Germany Villa Stephanie has its emphasis on modern curative therapy. A former royal residence, the spa was only set up in 2016 but has already progressed in leaps and bounds. The place harnesses new and old techniques from low calorie personalised menus to a host of body analysis and training like the InBody 720 Analyser which uses electric currents to measure fat, muscle and water composition in the body and will recommend where you need to gain or lose. The people at Villa Stephanie also place big emphasis on digital detox from rooms decked out in calming tones to de-stressing treatments. There’s also a button to block out the wifi signal – you know you want it. For more info, see oetkercollection.com H

PHOTOGRAPH (Almar) by Janos Grapow

Almablu Spa is renowned for its signature skincare line, made with natural seaweed and plant extracts, inspired by traditional Chinese medicine

programmes – regeneration and detoxifying. The Veneto region is home to many renowned courses, including the Jesolo Golf Club, which is just 5km from the resort. With this in mind, there are targeted massages and therapies for lovers of the game, including the Golf Swing Relax which relieves swing-induced tensions. The 2,000sq m spa also includes different types of saunas, steam baths, experience showers and relaxation areas, a seafront whirlpool tub and direct access to the resort’s the 70m-long outdoor pool. For more info, see almarjesolo.com


INVESTMENT VALUE GOOD. ENTERTAINMENT VALUE PRICELESS.

In the boating world, there is no more desirable classic than a vintage Riva. Ariston, Tritone, Aquarama, these are names to stir the nautical soul. The last ever Aquarama, built in 1998, went under the hammer in 2011 for $975,000, three times its original price. One American enthusiast has been buying classic Rivas since he was 19. “I have never lost money on a Riva,” he says. Add to that the fact that driving a Riva is one of life’s greatest pleasures, and owning one makes perfect sense.

RIVA CLASSIC SPECIALIST

WWW.VENTURAEUROPE.COM VENTURA UK 47a South Audley Street London W1K 2QA T: +44 (0)20 7495 2330 E: mail@venturaeurope.com


REWARDS

Mustang Rally On the roads of the Cote d’Azur, the 2018 Ford Mustang adds a touch of European finesse to its American muscle, and the results aren’t just impressive, they’re great fun too, says DUNCAN MADDEN THERE ARE SOME sounds that induce in me a certain unsolicited feeling of bliss. The slurpy glug of a fine wine being poured. The ethereal echo and whoosh of a wave breaking overhead. The crackle of a new fire springing to life. But none is quite as raw, as bone-tickling as the thunder that erupts when I push the big pulsing red start button on the 2018 Ford Mustang. Of course, the US marque has kicked off almost every journey since the Mustang’s 1964 birth with that infamous rumble, but this year it’s really upped the undertones through a new quad exhaust. When I first put finger to button in an innocuous car park on the outskirts of Nice, I initially think a train must be trundling past underneath while a dragon breathes fire overhead. Maybe I shouldn’t have chosen the convertible to kick things off, but the blue skies above me and smile spreading across my face say otherwise. I’ve taken the short, impossibly scenic flight to the Cote d’Azur to put the new Mustang through its paces on remote roads that snake their way through ancient villages, over precipitous mountain passes and down long, fast straights. It’s an acid test for a car rooted in straight-line, muscle car speed with a reputation as something you just ‘hold onto’ in the corners. But Ford says things are different nowadays and it’s ready to triumph on

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PHOTOGRAPHS by Firstname Surname

When I first put my finger on the Mustang’s start button, I initially think a train must be trundling past underneath while a dragon breathes fire overhead

European roads. First impressions and you couldn’t accuse them of taking too many risks with the styling – it’s a Mustang all right. Look close and there are some tidy cosmetic tweaks, from the lower profile bonnet and grille, integrated air vents and the odd swollen panel, but it looks as mean and aggressive as ever. More so, even. It’s a powerful, assertive, great-looking machine. The look is borne out by the new power unit. The fastback 5.0-litre V8 ten-speed auto spews forth 460hp that propels it from a standing start to 60mph in a sneeze over four seconds and onwards all the way up to 155mph. Fast enough then, although the convertible does add half a second to that time but it’s a pretty small price to pay when you’re cruising under the wide, sunny skies of the French Riviera. The slightly more restrained fourcylinder 2.3-litre EcoBoost runs around one and a half seconds slower, but with a huge weight hewn from the engine block its lesser power is more than made up for in nimbleness and the ready access to real pace at lower revs. It also near doubles the fuel efficiency of the V8. Both models come in manual six speed or auto ten speed options and, loathe as I am to say it, it’s the ten-speed auto (complete with flappy-paddle gear box) that had me grinning widest. With its instant power delivery, unbelievably smooth up-changes and ability to squeeze the most from the V8 even when the rev counter drops below 4,000rpm, it meant that I could keep my hands firmly gripped on the wheel – much to my co-pilot’s visible relief. There are plenty of upgrades hidden away in that new chassis, too. Refined shock absorbers improve stability, and a stiffer rear suspension and thicker anti-roll bars reduce roll and sharpen handling significantly. It’s a big improvement on the previous model and translates into fast, tight-cornering, ▶


MOTORS MUSTANG

▼ FORD AND MASTER: The 2018 Ford Mustang makes pretty easy work of the French Riviera’s winding mountain roads, and it does so with a dose of signature style.

PHOTOGRAPHS by Firstname Surname

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MOTORS MUSTANG

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▶ responsive

handling and a deftness of touch that caught me by surprise. As such it takes a while to convince myself we won’t fly out of every corner a flaming ball of fire careering over the cliff edge, but once I grow in confidence a little I can try to unbalance it. And I really try. From the traffic-laden motorways heading inland up into the empty, narrow and snow-flecked rural routes, the ’stang sucks up and spits out the miles with maximum fluidity and minimum fuss. It’s particularly impressive on rough, loose-surface roads, keeping its composure for longer than I was willing to keep my foot down. Don’t get me wrong – it’s no M3 and you’d be a fool to expect as deft a touch, but it’s way more than I was hoping for. Only once did its straight-line roots betray it, when a particularly tight town roundabout had me three point turning under the withering gaze of bored onlookers unimpressed by the bonkers muscle car convoy rumbling past. And all the while that background rumble from the quad exhausts let everyone know the power is there if I need it. Or rather, want it – this is a mountain rally after all. Things are similarly stirring inside the cabin (although inside in a convertible is a contradiction in terms, I suppose). Doors, heated (and cooled!) seats, and the dash are encased in a smooth white stitched leather. The ubiquitous Mustang plastics are in attendance here and there, but do little to detract form the overall comfort. Dials and knobs have a hefty metallic sturdiness to them – like they were designed for easy flicking by a hardy American lumberjack on his way home from a spot of deforesting the Midwest (and his Raptor had broken down). Then there’s the tech. The steering wheel looks like a fighter jet cockpit with more

The steering wheel looks like a fighter jet cockpit with more buttons than I could ever hope to master while scorching my name in the tarmac in drag race mode 102 HEDGE

buttons than I could ever hope to master while scorching my name in the tarmac in drag race mode. Which, coincidentally, is my favourite setting on the awesomely overindulgent and versatile digital dash display and accompanying 12-inch LCD. Endless layout settings, colour options and drive modes are all customisable, fun to play with and sing to the praises of Ford – it knows its Mustang heritage and audience and with stuff like this plays to its strengths perfectly. I could spend almost as much time tweaking its displays as I could breaking French motoring laws. Almost. More important than all these upgrades that have undoubtedly improved the Mustang, from the tech to the engine to the handling, is the fact that crucially Ford

hasn’t forgotten what the galloping equine badge represents. It’s not a Porsche Boxster or a BMW M3 – and Ford doesn’t want it to be because neither do the Mustang’s fans. It’s loud, uncouth, brash and proud of it. And as the light was fading and the murderous bark of that V8 bounced endlessly off cliff faces around us, I was enjoying that brashness when once again my co-pilot’s language turned bluer than the azure seas in the distance. I turned once again to apologise for my aggressive driving with a ‘blame it on the Mustang’ shrug. “It’s not that,” he replied. “I’ve just seen where we’re staying tonight – and it’s called Tourrettes, which seems about right after the day I’ve had.” Well played, Ford. Well played. H For more information, see ford.co.uk


GOODWOOD REVIVAL

a e r y s l ” a c i g a m 0 2 g n ati r b e l e “C

7 • 8 • 9 SEPTEMBER


FOOD & DRINK REVIEWS

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Scoring a Perfect Ten The Four Seasons at Ten Trinity Square provides a stately setting, and the food at its Michelinstarred restaurant La Dame de Pic more than lives up to its grand surroundings, finds MARK HEDLEY

“AM I ALLOWED to put my tongue in my pot?” I can’t tell if my wife is joking or not. She has just demolished a ramekin full of La Dame de Pic’s signature cheese brûlée. For anyone who can’t decide between the eternal end-of-meal dilemma – savoury or sweet – this is the perfect fusion. It’s a tangy Brie de Meaux creation complemented with Tahitian vanilla and a shaving of truffle. It is, quite simply, a little bowl of heaven. It’s the creation of Anne-Sophie Pic, only the fourth female chef to win three Michelin stars. Her restaurant – Maison Pic – in southeast France is a mecca for fine French dining. It’s no surprise, then, that her first foirée onto the London scene picked up a Michelin star in its debut year. On its first anniversary, HEDGE decided to see if in 2018, it might just win another. The experience begins before you even enter the restaurant. The new Four Seasons

at Ten Trinity Square in which it’s located is an impressive mothership. Walk through a highly-polished white marble atrium into the Rotunda bar for a pre-dinner drink. The huge room is greco-roman meets art deco. There are red booths, an ebony bar and a grand piano takes centre stage. It’s a bit like the Titanic, but without the sinking feeling. The restaurant itself has tall ceilings and warm leather seats as soft as a Bentley. Staff wear aprons made from the same hide; the whole place still has a new-car smell one year on. That is, until we’re served fresh bread with coffee and cardamom butter. The wafts of warm dough and bitter-rich butter are certainly enough to get you salivating. We went for lunch so eschewed the frippery of a tasting menu for some heartwarming à la carte options. A pigeon and foie gras pie was like the best pork pie you could ever imagine. (Although, admittedly

one without any pork in it.) It was accompanied by a sublime pineapple jelly made with Ron Zacapa rum. I did manage some pork for my main, though – silky tenderloin marinated in dark ale and served with smokey chervil root. My dinner companion’s risotto was sticky with 12-month matured gruyère – an intense dish served at the altar of the cheese gods. The white millefeuille [pictured] was a minimalist masterpiece, with the lightest of puff pastry. But little could beat that cheese brûlée. When you don’t have room for cheese and dessert, why not combine them? It’s genius. Although, be warned: you may want to order two of them. Will La Dame get a second star this year? With flavours like these, it deserves ten. H Four Seasons Hotel at Ten Trinity Square, 10 Trinity Square, EC3N 4AJ 020 3297 3799; ladamedepiclondon.co.uk

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27 rue Maufoux, 21200- FRANCE Beaune - FRANCE 27 rue Maufoux, 21200 Beaune www.hotel-cep-beaune.com www.hotel-cep-beaune.com 27 rue Maufoux, 21200 Beaune - FRANCE resa@hotel-cep-beaune.com resa@hotel-cep-beaune.com www.hotel-cep-beaune.com +3322(0)3 80 22 35 48 +33 (0)3 80 35 48

resa@hotel-cep-beaune.com +33 (0)3 80 22 35 48


PURSUITS STYLE

PURSUITS PHOTOGRAPHS PHOTOGRAPH byby Firstname Sarah Farnsworth Surname

◀ GET THE LOOK: All items by Schöffel Jacket: Belgrave sports jacket in Sandringham tweed, £449.95 SHIRT: Burnham tattersall shirt, £69.95 TIE: Waltham silk tie in red, £39.95 JERSEY: Lambswool V-neck in forest, £79.95 TROUSERS: Canterbury cords, £99.95 For more info, see schoffel.co.uk

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911 2.7 RS £555,000 As one of only eleven manufactured in Aubergine, this 911 2.7 RS comes with a fully documented history. This 2.7 RS is production number 1,419 and spent most of its life in Germany before being imported into the UK. The car has received a full nut and bolt mechanical and cosmetic restoration and comes complete with photographic documentation, labour timesheets and receipts. Porsche recommends

and

Porsche Classic Partner Leeds The Boulevard City West Business Park Leeds LS12 6BG 0113 389 0600 info@porscheleeds.co.uk www.porscheleeds.co.uk

Official fuel economy figures for the XXXXXXX in mpg (l/100km): urban X.X - X.X (X.X – X.X), extra urban X.X – X.X (X.X – X.X), combined X.X – X.X (X.X – X.X). CO2 emissions: XXX – XXX g/km. The mpg and CO2 figures quoted are sourced from official EU-regulated tests, are provided for comparability purposes and may not reflect your actual driving experience.


FIELD SPORTS FAMILY-FRIENDLY BREAKS

REWARDS

▶ RANCH OUT: Brush Creek is a luxury 30,000-acre dude ranch epitomising the adventure of the American Wild West

Aiming for Perfection Fan of field sports, but have a family in tow? SELENA BARR offers five options that can cater for the needs of a family wanting to combine wilderness hunting with the benefits of a luxury resort Gleneagles, Scotland, UK THE LOWDOWN: Scotland’s ‘glorious playground’, this classic destination offers an array of country pursuits, plus an awardwinning spa and the only restaurant in Scotland to hold two Michelin stars.

Gleneagles offers falconry, fishing, partridge shooting and deer stalking as well as an award-winning spa, two Michelin star restaurant and activities for children

There’s pheasant, grouse and partridge shooting, deer stalking, falconry, gun dog training and ferret school, along with clay pigeon shooting and fishing. Hotel chefs will prepare and cook any fish you catch for you that evening. CHILDREN: There’s a wide range of activities, including the brand new Little Glen, a crèche for two to nine year olds with a countryside theme that’s supervised by qualified, highly trained staff (first two hours free and thereafter the service is charged at £10 per hour per child). The Den is a complimentary, unsupervised hang-out and recreation space for six to 15 year olds, which offers a good mix of traditional and high-tech games. Babysitting is also available by arrangement. Cots are HUNTING:

provided for children under five years and high chairs are also available in the restaurant on request. BEST MONTHS TO VISIT:

Mid-August to late January for game shooting; year-round for everything else. ROOM-ONLY RATE: Family rooms at Gleneagles start from £325 per night for two adults and two children. For info, see gleneagles.com

Le Telfair, Mauritius THE LOWDOWN: Luxury resort hotel on the shores of the Indian Ocean with an on-site spa, golf course, nature reserve and 12 restaurants, offering activities from yoga on the beach to quad-bike safaris. HUNTING: Le Telfair has a close working ▶

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▶ HOME ON THE RANGE: Not only is Gleneagles a great place to shoot, it’s got a world-class hotel that’s perfect for a family break; ▼ a stay at Brush Creek Ranch offers adventures suitable for all ages.

▶ partnership with Mauritius’s longeststanding outfitter, Le Chasseur Mauricien, and can offer winged game, including pheasant, francolin and guinea fowl, as well as stalking rusa deer and wild boar and Japanese hare hunting. CHILDREN: The Timomo Kids’ Club is run by highly trained staff and caters for children aged 0 to 11, and is free to residents.

BEST MONTHS TO VISIT:

Mid-June to late August. ROOM-ONLY RATE: From £249 per night for two adults and two children (under 12). For info, see heritageresorts.mu

Hemmingway’s, Watamu, Africa THE LOWDOWN: Tropical paradise on the Kenyan coast, with white beaches, turquoise waters and exceptional deep-sea fishing. HUNTING: Sea fly-fishing and light-line fishing are available, as well as full and half day deep-sea fishing excursions for an impressive array of species including three types of marlin, sailfish, broadbill swordfish and short bill spearfish. You can even ask one of the resort chefs to prepare your catch for you to eat that evening. CHILDREN: A childcare service is available for children of all ages.

BEST MONTHS TO VISIT: From December to February for warm, calm seas; it’s advisable to avoid the monsoon months of April, May, October and November. ROOM-ONLY RATE: Rooms start from £405 per night for two adults and two children (aged from five to 12 years).

For info, see hemingways-collection.com/watamu

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For info, see brushcreekranch.com

Marinedda Hotel Thalasso & Spa, Isola Rossa, Sardinia THE LOWDOWN: Spectacular sea views, unspoilt island wilderness, a seawater spa, five restaurants and luxury accommodation including family rooms and suites, plus a wide range of sporting, relaxing and cultural activities for all ages. HUNTING: Sports fishing charters, including spectacular deep-sea fishing for an array of species such as curlews, sea bream and tuna, available around Sardinia and neighbouring Corsica. CHILDREN: Free mini and junior clubs catering for children aged three to 11 are available six days a week. Activities include football, archery and tennis. Babysitting services are also available on reservation for an additional charge. The hotel also offers free pushchair hire. BEST MONTHS TO VISIT:

April to October for peak fishing. ROOM-ONLY RATE: From £396 per night for two adults and two children. For info, see hotelmarinedda.com H

PHOTOGRAPHS; (Gleneagles) Charles Sainsbury-Plaice; (ranch) by Dan Ham

Brush Creek Ranch, Wyoming, USA THE LOWDOWN: A luxury 30,000-acre dude ranch epitomising the grandeur and adventure of the American West. Brush Creek boasts a highly regarded spa as well as an impressive array of adventurous activities for all the family. HUNTING: Big game hunting (elk, deer, moose and mountain lion – subject to permit application), wing shooting (pheasant, bird or waterfowl) and fly-fishing for native trout. ‘Cast and blast’ packages are also available. CHILDREN: Lil Wranglers camp offers adventurous activities tailored for four to eight year olds, including riding, archery, arts and crafts, hiking, biking, climbing, scavenger hunts, zip wires and yoga. BEST MONTHS TO VISIT: The ranch is open from mid May to late October. ROOM-ONLY RATE: From £1,660 per night

for two adults and two children aged four to eight years (0 to three years free).


YOU CAN FIND OUR PRODUCTS AT EXCLUSIVE SPECIALIST RETAILERS AND ONLINE AT WWW.SWAROVSKIOPTIK.COM BY APPOINTMENT TO HER MAJESTY QUEEN ELIZABETH II SWAROVSKI OPTIK SUPPLIER OF BINOCULARS

Z8i 2-16x50 P

RIGHT AT HOME ANYWHERE The Z8i 2-16x50 P from SWAROVSKI OPTIK is a true all-rounder that is perfect for both driven and long-range hunting. It sets new standards in optical performance, design, and ergonomics. An excellent rifle scope with a large field of view for maximum overview and an 8x zoom for those crucial details. Also ideal for use at twilight and in poor light conditions. When seconds are crucial – SWAROVSKI OPTIK.

SEE THE UNSEEN WWW.SWAROVSKIOPTIK.COM


The Finest Winchester 1886 known: Phenomenal, FRESH and Well Documented, Winchester Model 1886 Takedown Grade I Factory Exhibition Engraved, Carved and Gold Inlaid John Ulrich Signed Masterpiece in 50 Express, from the Mac McCroskie Collection.

REAL ART REAL HISTORY REAL IRON

®

#1 FIREARMS AUCTION HOUSE IN THE WORLD SINCE 2003! WWW.ROCKISLANDAUCTION.COM

001-309-797-1500

TO BE FEATURED IN OUR SEPTEMBER 7-9, 2018 PREMIERE FIREARMS AUCTION


FIREARMS ROCK ISLAND AUCTION

REWARDS

Sure-Fire Investments You mightn’t want guns on the streets but you should certainly try and get a couple in your portfolio – recent auctions have broken record upon record. It’s time to bite the bullet and reach for your cash ROCK ISLAND AUCTION Company recently celebrated the most successful firearm auction in its 15-year history, grossing a remarkable $17.7m and setting seven new world records at its April event – including the new record for a single firearm sold at auction. That went to the world’s only known cased civilian Colt Walker, the famed collaboration between Captain Samuel Hamilton Walker and American inventor Samuel Colt: sold for $1.84m after a lengthy bidding war in which happily no literal shots were fired. Another highlight was the $747,500 sale of the fresh-to-market Winchester 1876. While less iconic than the Winchester 1873, ‘The Gun That Won The West’, the ’76 was nonetheless a successful model in its own right. Theodore Roosevelt owned an engraved ’76, as did the legendary Apache warrior Geronimo. A Winchester 1873 did go under the hammer on the third day of auction. The earliest recorded ’73 with factory engraving, the rifle sold for $195,500; while a Singer M1911A1 clocked up $172,500. Designed by John Browning, and often described as ‘The Most Iconic Handgun of All Time’, the M1911 served as the standard-issue sidearm for the US Army from 1911 to 1986. The sale suggests a rising market for not only Singer pistols but US military arms as a whole. Investors take note. Guns weren’t the only story. A Will & Finck push dagger and its silver sheath surpassed expectations to sell for $37,375. A classic weapon of the American frontier, specifically associated with the California Gold Rush, the push dagger was worn by many civilians in the 1800s, eager for a discrete form of protection in a dangerous age. Best not to get any ideas, though. Fortunately for those who missed out on the recent action, Rock Island Auction Company will host its next Premiere Firearms Auction on 7-9 September.

The flagship item of the event will be an ultra-rare Winchester 1876 ‘One of One Thousand’ deluxe rifle – one of only 54 ever produced, of which approximately a dozen are known to collectors today. Perennial collector’s favourite Colt will be present with superior pieces from all eras of the manufacturer’s lauded history, including a historic D Company Walker, a deluxe ColtBurgess saddle ring carbine, and a spectacular Auto-Ordnance Model 1923 Thompson prototype rifle. The highlights from Colt

▲ AIMING HIGH: [clockwise from top] The Colt Walker took the world record for a single firearm sold at auction; a WW2 battle-used Singer pistol; Thomas Tranter engraved double-action revolver.

alone are enough to quicken the pulse on the walk to the auction house. The above is just a selection of what will be on offer at the largest firearms auction of 2018. This is an event not to be missed. H The auction will run 7-9 September 2018. For more information, see rockislandauction.com

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LIMITED EDITION LIVING AT THE TOWNHOUSES 500 CHISWICK HIGH ROAD 500 Chiswick High Road is the ideal location for enjoying Chiswick’s charm, within a few minutes’ walk of the lively High Road and the restaurants, cafés and boutiques that make this area so sought after. With just five of these luxurious four bedroom townhouses available, each with their own unique personality, this truly is limited edition living. • • • • •

Stunning four bedroom townhouse extending over four storeys Situated directly on Chiswick High Road A short walk to two Zone 3 stations Featuring a private garden as well as a secluded courtyard Set within a gated development with landscaped grounds

PRICES FROM £2,600,000 FOR MORE DETAILS OR TO ARRANGE A VIEWING, PLEASE CALL 0203 733 0840

Show home photography of 500 Chiswick High Road. Images are indicative only. Details are correct at time of going to print.

Sales & Marketing Suite Open Daily 500 Chiswick High Road, Chiswick, London W4 5RG

500CHISWICKHIGHROAD.CO.UK


PROPERTY RIVERSIDE

PROPERTY

PROPERTY ▲ BITE OF THE BIG APPLE: This five-bedroom duplex in the River & Warren development is situated on the 18th floor offering panoramic views over the Hudson. $7.8m; quintessentiallyestates.com

– EDWARD WOOD

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PHOTOGRAPH by Andrew Crowley

PHOTOGRAPHS PHOTOGRAPH by Firstname by Tim Surname Waltman

“TRUE MERIT, LIKE A RIVER, THE DEEPER IT IS, THE LESS NOISE IT MAKES”


PROPERTY RIVERSIDE

PROPERTY

Take Me to the River An impressive array of iconic new developments mean that there’s never been more choice when it comes to riverside living. Here are some of the best, both beside the Thames and further afield

▲ TAKE THE PLUNGE: The Royal Arsenal Riverside development offers incredible views of the Thames, and will also have easy access to Crossrail when it arrives this year.

WHETHER YOU’RE LOOKING for iconic architecture, picturesque surroundings, or a tranquil out-of-town base, here’s the very best of riverside living…

Royal Arsenal Riverside, SE18 There are more than 5,000 homes in this smart new development, and while they range in size from apartments to penthouses they all have one thing in common: an amazing Thames-side location and modern, open-plan living spaces. You’ll never want to leave your lovely new home, but for the times when you do, transport links couldn’t be better – a Crossrail station opens later this year, London City airport is seven minutes away, and there’s the Thames Clipper, too. Prices start from £465,000. For more info, see royalarsenalriverside.co.uk

116 HEDGE

Thames Reach, W6 A spectacular, double-height reception space with panoramic views of the river forms the heart of this three-bedroom penthouse in Thames Reach, a Richard Rogers-designed development that’s inspired by the pre-existing warehouses and industrial buildings nearby. The feel inside is stylish and modern, with black porcelain wood-effect flooring and light walls. In addition to the sizeable living area within, there are three separate outdoor terraces, adding a further 1,550sq ft of space to this already substantial home. £2.8m. For more info, see knightfrank.co.uk Bath Riverside BA2 To a different river altogether, the Avon, and Crest Nicholson’s new iconic development, Bath Riverside, a collection of properties

ranging from studios to four-bedroom homes. The site is right on the banks on the river, providing easy access to a tow path and a convenient ten-minute walk into the city centre, while Victoria Park and Botanical Gardens are directly opposite, accessed via the restored, Grade II-listed Victoria Bridge. This striking development has all mod cons, with high-spec interiors and the latest fittings and fixtures. However, designers kept its situation in one of the UK’s most historic cities firmly in mind, and the locally quarried Bath stone that has been used throughout the build lends its distinctive sandy hue to the overall aesthetic. Current availability includes a range of beautiful one and two-bedroom apartments and rooftop penthouses in Sovereign Point, a building that is attracting both owneroccupiers and those who may be looking ▶


Views from rooftop terraces

Nine grandly proportioned townhouses with stunning Georgian facades, Octagon’s latest London launch incorporates the highest specification and finishes as befitting the developer’s name. Offering views towards the River Thames and Barnes Wetland Centre from private roof terraces and balconies, these unique new homes range between 4,375 – 6,150 sq ft. With 4/5 bedrooms, an impressive kitchen/breakfast room and 4 formal reception rooms across 5 storeys, the lower ground floor is dedicated to leisure - including a gym, cinema/TV den and a covered courtyard garden. Each property features a private west backing walled garden with rear pedestrian access to the Thames towpath. Located within the Bishop’s Park Conservation Area, Bishops Row is just a short walk from Fulham’s vibrant centre, tube stations, bus services, and an excellent choice of local schooling.

SHOWHOUSE OPEN THURSDAY TO MONDAY 10AM – 4PM 020 3417 4610

GUIDE PRICES From £4.995m BISHOPS ROW STEVENAGE ROAD, FULHAM, LONDON SW6 6PB

020 8481 7500 | OCTAGON.CO.UK

020 7731 7100


PROPERTY RIVERSIDE

PROPERTY

gyms, cinema rooms and a wine room to Plot 1, the furnished Showhouse, where the grand master suite features a walk-through wardrobe, en-suite bathroom and large balcony spanning the entire top level. Innovative outdoor space includes the covered lower courtyard gardens, landscaped space to the front and rear, and private balconies and terraces. The pièce de résistance in outdoor living comes in the form of the rooftop terraces from plots 8 and 9, which give residents unbeatable views towards the river. Guide prices from £4.995m. To visit the showhouse, call 020 3417 4610; Strutt & Parker; struttandparker.com

▲ BROADEN YOUR HORIZONS: Warehousestyle living at Thames Reach ▼ [left to right] Bath Riverside on the banks of the Avon; innovative design at Bishops Row in Fulham

Bishops Row A terrace of nine new elegant townhouses, Bishops Row is situated alongside the Fulham banks of the River Thames. Developed by Octagon, these spacious townhouses – ranging from 4,375-6,150sq ft

118 HEDGE

– come with four or five bedrooms, and four reception rooms. Each house has access to the river footpath running between Putney and Hammersmith bridges. On the ground floor, the large kitchen/ breakfast/family rooms open onto private west-backing walled gardens, while the drawing and dining rooms on the first floor enjoy modern limestone fireplaces, complemented by herringbone timber flooring and plush inset carpets. Additional accommodation includes

PHOTOGRAPH by (Thames Reach) Jerome Scott-Blount

▶ for a second home. Whatever your motivation, this is a riverside development that’s certainly worthy of your attention. Prices range from £340,000 to £1.25m. For more information, see crestnicholson.com

River & Warren, NYC The roll-call of landmarks near this fivebedroom duplex in the River & Warren development reads like a New York City guidebook: the Hudson River, Statue of Liberty, Rockefeller Park… It’s fair to say when it comes to NYC living, this property offers a sizeable bite of the Big Apple. The CetraRuddy-designed development is one of the most desirable residential addresses in Battery Park and Lower Manhattan, and connects the two vibrant neighbourhoods of Tribeca and Battery Park City, while of course overlooking the iconic Hudson River. Situated on the 18th floor of the development, this duplex property offers panoramic water and sunset views. There’s a private outdoor terrace outside, which is where you’ll find a barbecue, generous seating area and designer landscaping. The home’s spectacular main entertaining level is a stand-out feature – spanning more than 3,346sq ft across two levels, it has an office and en-suite bathroom that’s private from the upper bedroom level. Among the five bedrooms is a master bedroom suite which has floor-to-ceiling windows, a windowed walk-in closet and a marble five-piece bathroom. Stylish interiors extend to the rest of the home, which has oak flooring throughout the main living areas and chevron marble floors in the bathroom. You’ll find even more marble in the chef ’s kitchen, in the form of a blue de savoie island. $7.8m. For more information, see quintessentiallyestates.com H


SPORTS CLASSICS LONDON

The Sleeping Beauty Awakes Sports Classics London are delighted to announce our involvement with the restoration project of this beautiful 1963 Aston Martin DB5 Coupe which we discovered in need of a new custodian. After 50 years of slumber and only 5 years on the road from new, the car still retains all its original metalwork and is one of the most original examples in existence. Currently undergoing a sensitive restoration by a world-class team of craftsmen, we look forward to getting this beauty back on the road where it belongs. If you are looking to buy a unique or special car similar to these featured here or on our website, please contact us to discuss your requirements.

SELECTED CARS IN STOCK

1962 Aston Martin DB4 Series IV Matching numbers, original, rare LHD

1970 Mercedes Benz 280SL Pagoda Beautifully presented , auto, RHD,

1971 Ferrari 365 GTB/4 Daytona Highly documented, original equipment, RHD

1959 Aston Martin DB Mk III DHC Ultra rare, original, LHD

SP ORTSCLASSICSLONDON.COM PLEASE CONTACT JONATHAN KAISER 6 KENDRICK PLACE, REECE MEWS, LONDON SW7 3HF UNITED KINGDOM TELEPHONE: +44(0)20 7205 2777 | MOBILE: +44(0)7710020030 | EMAIL: SALES@SPORTSCLASSICSLONDON.COM


All StAtionS

ImmedIate ImmedIate assIstance assIstance RequIRed! RequIRed!

Help get A MoSSie bAck into tHe Air

We We need need your your help help to to get get one one of of these these magnificent magnificent aircraft aircraft back back into into the the skies skies over over britain. britain. this this is is aa british british designed designed WWii WWii aircraft, aircraft, yet yet we we do do not not have have one one airworthy airworthy aircraft aircraft to to call call our our own. own. Contact Contact for for fundraising fundraising events events or or donations. donations.

office@thewoodenwonder.org.uk office@thewoodenwonder.org.uk www.thewoodenwonder.org.uk www.thewoodenwonder.org.uk the Mosquito pathfinder trust. registered charity number, 1173706. the Mosquito pathfinder trust. registered charity number, 1173706.


HEDGE LEGEND DANNY YONG

REWARDS

HEDGE Ledge # 1 7

D A N N Y

YO N G

There was an element of luck involved in securing his first job, but Danny Yong’s success is mainly down to dedication, says SAFI THIND THE FOUNDER AND driving force behind

Young’s first job almost didn’t happen after his application was put in the reject pile, but a trader he’d interned for recognised him and saved the application 122 HEDGE

school friend Keith Tan to set up his own firm, Dymon Asia Capital. It was a difficult start. The first notes of the financial crisis had sounded and Dymon was in the process of raising funds but losing money at the same time as the markets started to slide. It was nip and tuck whether they’d get off the ground. In August, the partners got a $100m seed investment from Paul Tudor Jones just before the financial world collapsed. Yong says he was “very, very fortunate” to get the money at that time – even one month later and the funding would have been cancelled and in all likelihood Dymon Asia would not be in existence today. A torrid first five months, when Dymon Asia lost $15m of its investors’ money, was quickly turned around. Since then Dymon’s only annual loss was in 2015. And so Yong has expanded the company into one of Asia’s biggest home-grown hedge fund firms with about $5bn today. Its flagship Dymon Asia Macro Fund follows a global macro strategy with a focus on Asian currencies, fixed income and equity indices. But he has also placed impressive bets on wider macro events like Brexit, where he took home a win when many others failed. The success has helped Yong to draw in significant investors – Temasek, the Singapore sovereign wealth fund known as one of the most important institutional investors in the world, put $500m in Dymon Asia’s strategies in 2014 and also took a minority stake in the company. Yong says his philosophy is one of 100% commitment with no in-between – as he showed sleeping on the badminton courts all those years ago. It is a passion for investing that drives him, not the desire for the money. But it could all have been so different had the trader not spotted his application in the rejection pile. H

THE NUMBERS GAME ■■

$670m: Danny Yong’s net worth

■■

$200m: His earnings in 2016

■■

2011/2014: placed in top ten performing large hedge funds in the world

■■

$500m: Temasek’s investment in Dymon

■■

4%: Gain on day of Brexit vote

PHOTOGRAPH by Munshi PHOTOGRAPHS Ahmed/Bloomberg by Firstname via Getty Surname Images

Dymon Asia Capital, Danny Yong is the youngest of three children who grew up under the care of a single mother, a nurse, after his father died when he was ten. The difficult circumstances forged a competitive spirit in him and desire to work so hard that “people wouldn’t look down” on him. He played for the national badminton team while at school, waking at 5am every day to run and often sleeping at the courts to save the two-hour commute time to study for his exams and train at the same time. Yong’s first job was as an Asian currency derivatives trader at JP Morgan. It almost didn’t happen after his application was put in the reject pile. Luckily, a trader who he had previously interned for recognised Yong’s photo and saved the application. It was a small stroke of luck but one which Yong believes kick-started his fate in business. After a three-year stint at JP Morgan, he joined Goldman Sachs in 2000 going on to head trading for South Asia derivatives. Citadel followed, where he set up and ran the company’s Asia macro trading business from 2005 to 2007. He left to start a hedge fund in Hong Kong – Abax Global Capital, part-owned by Morgan Stanley. But a year later he took a gamble, returning to Singapore with


Hedge 50 - The Treasure Assets Issue  

Hedge Magazine - Issue 50 - The Treasure Assets Issue

Hedge 50 - The Treasure Assets Issue  

Hedge Magazine - Issue 50 - The Treasure Assets Issue