Research from Hardman & Co, Hardman & Co

Hardman & Co

Research from Hardman & Co

Investment research on quoted companies and funds

Hardman & Co is a multi-disciplinary financial consultancy and investment research firm, employing highly experienced analysts and professionals with a broad range of capital markets expertise. Our clients are public and private businesses as well as fund managers, ranging from start-ups to £1 billion+ market capitalisations. Hardman & Co offers corporate research & consultancy, serving the needs of both public and private companies. We produce gold-standard research with a global reach for trading and investment companies, as well as providing market commentary and analysis. In addition, we carry out a number of bespoke investment-related assignments, including due diligence on bond listings, assessments of private company valuations and other corporate advisory services. We engage with the market through traditional and digital media, offering illuminating video content on corporate management strategy, results communication, interviews and in-house sector discussion.

Thematic (Sector/Industry)

<ul>
<li>Feature article: Steady as she goes, but could be better: A review of investment company liquidity since 2016 Liquidity is the lifeblood of equity markets.</li>
<li>The measurement of liquid asset availability to a market or company is a way of gauging a market’s health.</li>
<li>This article builds on our previous work, which analysed the liquidity data for non-financial trading companies, by applying the same analytical techniques to the investment companies (IC) space.</li>
</ul>


Feature article: Steady as she goes, but could be better: A review of investment company liquidity since 2016 Liquidity is the lifeblood of equity markets.
The measurement of liquid asset availability to a market or company is a way of gauging a market’s health.
This article builds on our previous work, which analysed the liquidity data for non-financial trading companies, by applying the same analytical techniques to the investment companies (IC) space.


Equity Bottom-Up

<ul><li>Feature article: Unemployment – the spectre returns?</li><li>By Keith Hiscock, Chief Executive of Hardman & Co The rate of unemployment in the UK seemed to disappear from the headlines for many years.</li><li>However, it looks to have crept up the news agenda again in recent months.</li></ul>

Feature article: Unemployment – the spectre returns?By Keith Hiscock, Chief Executive of Hardman & Co The rate of unemployment in the UK seemed to disappear from the headlines for many years.However, it looks to have crept up the news agenda again in recent months.

Chesnara PLC - Hardman & Co Monthly: May 2026

Japan TMT Analyst

Pelham Smithers

Market Intel on Asian Tech with a Japan focus

Pelham Smithers Associates

Founded in 2009, Pelham Smithers Associates (PSA) provides market intelligence on Asian technology, focusing in particular on Japan. The industries covered by our team of specialists are: consumer electronics, telecomms, pharmaceuticals, internet, electronic parts and materials, automotive technology, retail and capital goods. 

Research is provided by the following:
Pelham Smithers: Macro, consumer electronics, telecoms & pharma
Joel Scheiman: Electronics materials / components
Julie Boote: Autos
Will Nestuk: Capital goods, machinery & transportation equipment parts
Thao Nguyen: eCommerce, internet content, marketing & advertising

The vote to leave the European Union will have both shorter and longer term impacts on the UK economy. There will be a shorter term impact on demand and, separately, on potential supply. The longer term one will depend largely on the policy response. Any decline in demand can in principle be offset by a lower exchange rate or by fiscal or monetary stimulus. A reduction in potential supply can only be offset, after a delay, by increased investment. This is therefore the key challenge and policy success will be determined by the extent to which investment is stimulated and adequate long- term growth thereby assured. In addition, there is also likely to be a reduction in living standards through a deterioration in the terms of trade as a result of weaker sterling, but this was in any event likely as the exchange rate appeared overvalued before the vote.

The vote to leave the European Union will have both shorter and longer term impacts on the UK economy. There will be a shorter term impact on demand and, separately, on potential supply. The longer term one will depend largely on the policy response. Any decline in demand can in principle be offset by a lower exchange rate or by fiscal or monetary stimulus. A reduction in potential supply can only be offset, after a delay, by increased investment. This is therefore the key challenge and policy success will be determined by the extent to which investment is stimulated and adequate long- term growth thereby assured. In addition, there is also likely to be a reduction in living standards through a deterioration in the terms of trade as a result of weaker sterling, but this was in any event likely as the exchange rate appeared overvalued before the vote.  

Chairman, sgtradex

Tan Chin-Hwee

Chairman

Cameron has to take the fall as he took a huge strategic risk for partisan reasons, misreading the mood. The question is: do you as a business owner hire and invest?Uncertainty is often lumped together as risk but there is a different: risk can be measured but uncertainty cannot. Daniel Ellsberg devised the famous experiment where there are 2 jars. The first jar, you are told, contains 50 red balls and 50 black balls. The 2nd jars contain 100 red and black balls but the number of each is…

Cameron has to take the fall as he took a huge strategic risk for partisan reasons, misreading the mood. The question is: do you as a business owner hire and invest?Uncertainty is often lumped together as risk but there is a different: risk can be measured but uncertainty cannot. Daniel Ellsberg devised the famous experiment where there are 2 jars. The first jar, you are told, contains 50 red balls and 50 black balls. The 2nd jars contain 100 red and black balls but the number of each is…

Markets from Here-Uncertainty Is NOT Risk

<ul><li>Feature article: Tech sector outlook | Small cap finding support at COVID-19 levels The past year has been a challenging period for UK technology stocks.</li><li>The sector has diverged from buoyant UK blue chips due to the perceived threats of AI-induced disruption.</li><li>This underperformance has been regardless of generally positive trading news, and larger cap software & services companies have performed significantly worse than their smaller brethren.</li></ul>

Feature article: Tech sector outlook | Small cap finding support at COVID-19 levels The past year has been a challenging period for UK technology stocks.The sector has diverged from buoyant UK blue chips due to the perceived threats of AI-induced disruption.This underperformance has been regardless of generally positive trading news, and larger cap software & services companies have performed significantly worse than their smaller brethren.

Chesnara PLC - Hardman & Co Monthly: March 2026

United Kingdom

Arbuthnot Banking Group PLC is a United Kingdom-based holding company primarily involved in banking and financial services. It offers private and commercial banking, wealth management, and various asset finance solutions, including specialist asset finance for high-value cars and vehicle finance. The company is headquartered in London, United Kingdom, and was founded in 1833.

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Arbuthnot Banking Group (ARBB LN)

The Hardman & Co Monthly: April 2024

Feature article: Steady as she goes, but could be better: A review of investment company liquidity since 2016 Liquidity is the lifeblood of...

Hardman & Co

Chesnara PLC - Hardman & Co Monthly: May 2026

Feature article: Unemployment – the spectre returns? By Keith Hiscock, Chief Executive of Hardman & Co The rate of unemployment in the UK...

Hardman & Co

The UK Economy - After Brexit

The vote to leave the European Union will have both shorter and longer term impacts on the UK economy. There will be a shorter term impact on...

Pelham Smithers Associates

Markets from Here-Uncertainty Is NOT Risk

Cameron has to take the fall as he took a huge strategic risk for partisan reasons, misreading the mood. The question is: do you as a business...

Tan Chin-Hwee

Chesnara PLC - Hardman & Co Monthly: March 2026

Feature article: Tech sector outlook | Small cap finding support at COVID-19 levels The past year has been a challenging period for UK...

Hardman & Co

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