<p>Each quarter we produce a market review based on the key themes discussed at our Strategic Asset Allocation Committee. This quarter's key themes include:</p>

<p>This statement is a half-yearly financial report in accordance with the UK Listing Authority’s Disclosure and Transparency Rules. It covers the six month period ended 30 June 2014.</p> <p>Philip Howell, Chief Executive of Rathbones Group Plc, said:</p>

<p>The Education Business Awards, which was sponsored by Rathbones, took place at The Grange Hotel in London on 10 July. The awards recognised schools from all sectors for their excellence, innovation and outstanding achievements in the UK education sector. 20 awards were presented by Sharron Davies MBE.</p> <p>Rathbones awarded the ‘Personal Finance Education Award’ to St Mary’s School, East Sussex at The Education Business Awards, and also presented King’s College School, London with the ‘Outstanding Progress – Independent School Award.’</p>

<p><a href="http://www.rathbones.com/about-us/our-offices/kendal">The Kendal office</a> is sponsoring the <a href="http://www.abbothall.org.uk/exhibitions/barbara-hepworth">Barbara Hepworth: Within the Landscapes exhibition at Abbot Hall </a>from 5 July – 28th September 2014. </p>

<p>Each quarter we produce a market review based on the key themes discussed at our Strategic Asset Allocation Committee. This quarter's key themes include:</p> <p>1. Equities: Markets are likely to reward high-quality growth businesses</p> <p>2. Bonds: Evaporating liquidity and tight spreads may cause problems for investors</p> <p>3. Disruptive technologies: The digital economy is creating investment opportunities</p> <p>4. Currency wars: China is on the verge of devaluing the reminbi to support growth</p>

Jane Sydenham talks to Axel from Reuters about the investment outlook for the next six months and beyond.