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Starts from the basic principles of property investment and shows that the initial yield conceals estimates of a risk premium, expected income growth and expected depreciation. Suggests that an explicit valuation procedure which can be used at any level ranging from a single property to the aggregate market may be constructed. Concludes that the surveying profession is under threat from those able to meet the growing demand for such explicit analyses.

Considers the role of property in a multi‐asset portfolio and highlights the need for property to be subject to the same analytical framework as other assets in the portfolio. Discusses the principles of portfolio construction, consisting of development of economic scenarios; forecasts of return on asset classes; asset allocation and portfolio construction; and stock selection. Sets out a strategic framework for the construction of a property portfolio, which involves an explicit consideration of risk and return relative to an appropriate benchmark. States that both the structure and stock of the fund need to be considered. Suggests that most of the published work on the subject is seriously flawed by inadequate data.

Analyses data from the USA and UK to determine whether diversification within a region by property type is better than diversification between regions within a property type. Compares both strategies to full diversification by both property type and region. Calculates and compares property type and regional correlation matrices. Produces efficient frontiers and calculates principal components to determine if there are dominant property type or regional dimensions to real estate returns. Suggests that for the USA a purely retail portfolio diversified over all regions would have been almost as effective as a fully diversified portfolio. In the UK, there is less diversity across regions within retail property. Overall, there is no simple conclusion applicable to all regions and all property types in either country.

Addresses the issue of valuation variation. The fundamental research question is to establish the range of valuations which a group of qualified valuers operating in the same market and using the same basic assumptions would produce in their estimation of price. It significantly extends the approach adopted by Hager and Lord and draws conclusions about different market sectors, locations and size of firms. The results of the survey show a wide variation in value across both rack rented and reversionary interests. In terms of the former over 80 per cent of all valuations produced a variation from the mean of less than 20 per cent with a corresponding figure of over 90 per cent for the reversionary investments. These levels of accuracy fall short of the contention that valuers can value to within 5‐10 per cent of market value.

Responds to “A note on ‘The initial yield revealed: explicit valuations and the future of property investment’” published in an earlier issue of the Journal of Property Valuation & Investment. Addresses issues raised and develops and extends the organizations of the original paper, in particular: definitions of certain concepts; the determination of value; the need for explicit valuations; price formation in the property market; and the influence of valuation on price. Reiterates the purposes of the original worked example of valuations; produces a corrected version; and in an appendix presents extended solutions and a fuller discussion of the central issues.

Based on a multivariate analysis of long‐term total returns and inflation data over the period 1963‐1993, shows that commercial property total returns reflect both expected and unexpected components of inflation in the long term. There is no evidence that property returns systematically provide, on an annual basis, hedging characteristics against either of these components.

The Food Systems Leadership Institute (FSLI) is a 2-year leadership development program consisting of 3 intensive in-person immersion retreats, and a robust and customizable distance-based program. Participants come primarily from land-grant and public universities and learn about personal, organizational and system leadership with a focus on food systems as an organizing theme. For this study, program graduates from FSLI Cohorts 4-6 (n=60) were asked to complete an online retrospective pre- and post-test of skill competency and skill use for 20 competencies addressed in the program, with 47 (78%) completing the survey. Data indicate participants’ ratings of skill competency increased significantly across all 20 targeted areas.Participants further noted that they used these skills more after completing the program as compared to prior to the Fellowship training. Data suggest the FSLI model of leadership development can have a significant impact on participants’ perceived skill level in and use of important skills in both personal and organizational leadership in academic and food system settings.

Launched in 2005, the Food Systems Leadership Institute (FSLI) is a 2-year leadership development program primarily focused on academic leaders. As of spring 2020, FSLI has enrolled 15 Cohorts, training a total of 347 Fellows. In 2020, a review of the graduated cohorts was undertaken to understand both the range of institutions served by FSLI and the career trajectory of the 319 graduated Fellows who participated in Cohorts 1-14. A total of 78 different organizations have enrolled FSLI participants, including 79% of the 1862 Land Grant Universities, 68% of the 1890 Land Grant Universities, and 12% of the 1994 Institutions, in addition to fewer participants from non-Land Grant public universities, government institutions, industry, and institutions located outside of the U.S. FSLI has served participants from 84% of the US and Territories. The review showed that 46% of Fellows in Cohorts 1-14 advanced into higher positions of academic administration and they filled 169 new hierarchical positions, including college-level, university-level and system-level administration positions in higher education. Similar trajectories were found in industry-organizations, although in smaller numbers. In all, 470 administrative and leadership positions have been filled in these organizations by the 319 members of the cohorts reviewed. While career progression is a limited measure of leadership success, this brief review supports the hypothesis that participation in the FSLI program contributes to the careers of the enrolled participants.

There is a strong interest in the quality of children's diets as this can impact on current and future health. The aim of this paper is to review current and past literature on UK children's diets to evaluate the adequacy of nutrient intakes in comparison with recommendations, and to identify population groups that may be at particular risk of nutritional deficiencies.

A literature review was carried out to locate and summarise up‐to‐date published studies and reports which addressed dietary intakes of UK children, trends overtime and current dietary issues.

Although UK children's diets appear to have improved in recent years, intakes of several key nutrients remain below dietary recommendations. Iron, calcium, magnesium, potassium and zinc are especially low in some groups, whilst intakes of saturated fat and sugar exceed current targets. Thus, further improvements are needed. In the meantime, parents may consider giving children a daily multi‐vitamin to ensure that micronutrient recommendations are achieved. The lack of child‐specific targets for fibre, long‐chain omega‐3 polyunsaturated fatty acids (LCn3PUFA), vitamin D and fruit and vegetables portions makes it difficult to properly evaluate children's diets for these important dietary components.

Future studies should use consistent age ranges and methods of dietary assessment to enable better comparisons. Research is needed to underpin child‐specific dietary guidelines for LCn3PUFA, fibre and vitamin D.

This paper gives a concise, up‐to‐date overview of the current diet quality of UK children.

EVER since the inception of the hcavier‐than‐air flying machine, the need to refuel in flight has been apparent. The cartoon reproduced in fig. 1 was first published in Punch in 1909, at a time when the payload of the aeroplane was very small, due to the large tare weight of the airframe and engine. Present day aircraft have a much higher payload capability, in relation to tare weight, but it is still necessary to carry the energy for propulsion within the aircraft, with the result that long range can only be achieved at the expense of payload. The propulsion energy in orthodox aircraft has always been carried in the form of hydrocarbon fucls,bccause of their ready availability, high calorific value per pound weight and high calorific value per cubic foot. Work has been in progress for some years to develop solid fuel conversion, in the interests of saving weight and space, but such fuels are likely to be extremely expensive and potentially dangerous to handle. However, the problem remains that a consumable fuel source must be carried in the aircraft, with consequent reduction of payload or range. The use of nuclear engines for aircraft has been contemplated, but it seems probable that the weight of shielding and coolant, associated with this type of engine, will limit its use to very large aircraft.