Profitability of Index-based Size and Style Rotation Strategies in the UK Equity Markets

The objective of this paper is to examine whether short-term directional variation in the size and style spreads of indices in the UK equity market is predictable and exploitable by means of active style rotation strategies. Using a set of market related, macroeconomic and fundamental variables chosen by the Principal Component Analysis (PCA) method, we employ a recursive dynamic modelling approach (logit model) to predict the direction of the style index return spreads. Our style rotation strategies are based on small-capitalisation, large-capitalisation, value and growth segments of the market, using the appropriate style benchmark indices as proxies for styles, namely: FTSE 350 Value, FTSE 350 Growth, FTSE Small Cap and FTSE 100. The period analysed is January 1987 to May 2005. The results indicate that the optimal long only and long/short style rotation strategies are profitable for UK investors and that both the size of transaction costs and the strength of the forecasting signal play an important role in determining the profitability of the rotation strategy. Finally, we believe that there are two comparatively simple and cheap ways in which the suggested rotation strategies can be applied by a real-world investor: through ETFs and stock index futures.PCA, Logit model, value/growth and small/large style rotation

Regulation for health inequalities and non-communicable diseases: In want of (effective) behavioural insights

The death and disease burden of non‐communicable diseases falls disproportionately on members of lower socioeconomic groups. This paper explores NCD prevention measures introduced through EU consumer law in order to assess the impact these have had on health inequalities. It demonstrates that these interventions often have limited impact, and therefore maintain inequalities. Indeed, when interventions do work, they tend to be more effective with advantaged citizens than disadvantaged citizens, and therefore increase inequalities. From a behavioural research perspective, this paper demonstrates why these interventions – which focus on regulating the consumer information environment – have failed to reduce health inequalities, and analyses the debate on the extent to which behavioural research should act as a core consideration in public health related consumer policy. The paper concludes that, while regulating consumer information is a useful tool for NCD prevention, if information‐based interventions are to reduce health inequalities the EU will need to incorporate greater insights from the way consumers actually behave. Moreover, there are limitations to policies which regulate information, and therefore the EU should make more use of other tools in its regulatory toolbox

STABILITY STUDY: REGULATORY REQUIREMENT

Stability is an essential factor of quality, safety and efficacy of a drug product. The objective of stability study is to determine the shelf life, the time period of storage at a specified condition within which the drug product still meets its established specifications. Stability study is of three types that is physical, chemical and microbial stability. Various factors like oxygen, water, temperature, pH, moisture, light and concentration affect the stability. Present work aims to represent the stability testing (ST) requirements of International Conference on Harmonization (ICH), different regulatory agencies like, World Health Organization (WHO), Association of South East Asian Nations (ASEAN) and European Agency for Evaluation of Medicinal and Health Products (EMEA) and difference of those agencies with respect to ICH guideline. Most of the stability requirements for WHO, ASEAN, and EMEA are similar to the ICH guideline, except for the parameters like selection of batches and storage conditions

Healthier Food Choices From Consumer Information to Consumer Empowerment in EU Law

This article evaluates the European Union’s efforts to regulate consumer food information with the aim of enhancing nutrition as part of its broader consumer protection agenda. With nearly a million deaths annually attributed to unhealthy diets, the EU’s New Consumer Agenda, its Farm to Fork Strategy as well as Europe’s Beating Cancer Plan all highlight the objective of empowering consumers to make informed, healthy food choices. This underscores the EU’s longstanding emphasis on regulating information to protect consumers, an approach which is even stronger with nutrition more specifically. This article shows that EU food information law is based on two beliefs. First, consumers are given food information that is sufficient, accurate, non-misleading, clear and easy to understand and they are, therefore, well-informed. Second, well-informed consumers are empowered. This article argues that both of these beliefs are misguided. The current food information rules do not truly inform consumers well; and do not, on their own, empower them to make healthy dietary decisions. Consequently, this article expresses scepticism about the ability of the current rules to promote improved nutrition. In light of the critiques of the current rules, this article offers suggestions for an improved food information paradigm. In addition to rules which would more effectively inform consumers, such a paradigm would acknowledge the limitations of information to empower healthier food choices and therefore give greater weight to more substantive interventions. This would align food law with broader trends in consumer protection law and thereby genuinely promote healthier nutrition

A Child Rights-Based Approach to Food Marketing A Guide for Policy Makers

A Child Rights-Based Approach to Food Marketing: A Guide for Policy Makers offers a legal analysis that links the WHO Recommendations with a human rights framework, particularly the Convention on the Rights of the Child. In this analysis, the CRC provides the foundation for a child rights-based approach to ending childhood obesity and the prevention of non-communicable diseases

STABILITY STUDY: REGULATORY REQUIRENMENT

Stability is an essential factor of quality, safety and efficacy of a drug product. The objective of stability study is to determine the shelf life, the time period of storage at a specified condition within which the drug product still meets its established specifications. Stability study is of three types that is physical, chemical and microbial stability. Various factors like oxygen, water, temperature, pH, moisture, light and concentration affect the stability. Present work aims to represent the stability testing (ST) requirements of International Conference on Harmonization (ICH), different regulatory agencies like, World Health Organization (WHO), Association of South East Asian Nations (ASEAN) and European Agency for Evaluation of Medicinal and Health Products (EMEA) and difference of those agencies with respect to ICH guideline. Most of the stability requirements for WHO, ASEAN, and EMEA are similar to the ICH guideline, except for the parameters like selection of batches and storage conditions

The Association of Surgeons in Training Conference: #ASiT2015 Glasgow

AbstractThe Association of Surgeons in Training (ASiT) is a professional body and registered charity working to promote excellence in surgical training for the benefit of junior doctors and patients alike. ASiT is in-dependent of the National Health Service (NHS), Surgical Royal Colleges, and specialty associations and represents trainees in all ten surgical specialties.ASiT was delighted to welcome a number of distinguished guests and speakers to Glasgow for #ASiT2015. The theme of ‘The Future of Surgery’ delved into challenges surgical training faces, exciting developments into using technology to help patients, a glance at the past with the development of the Glasgow Coma Score and whether mortality truly is the future of measured outcomes. More than £3500 of prizes was awarded by the incoming President, Miss. Rhiannon Harries to the highest scoring papers presented selected from over 1000 abstracts submitted

Mucinous appendiceal adenocarcinomas: a diagnostic challenge

Mucinous appendiceal neoplasms are rare and diagnosis is often difficult as patients present with non-specific symptoms often suggestive of appendicitis only and most diagnoses are made following post-surgery histology examination. Here we present a case of a mucinous appendiceal adenocarcinoma with areas of both Low-grade Appendiceal Mucinous Neoplasm and High-grade Appendiceal Mucinous Neoplasm, in a ruptured appendix at a district general hospital. Without early detection and treatment these pathologies can lead to pseudomyxoma peritonei, a syndrome of progressive mucinous ascites. This case highlights the limitations of radiological studies, benefits of diagnostic laparoscopy and provides a rationale for removing the mesoappendix with the appendix during routine appendectomies