The issue of how firms treat vulnerable clients is not a new area of focus for the FCA but the regulatory scrutiny shows no sign of abating, with concerns forming a common thread throughout its 2018/19 Business Plan. Many firms are still struggling to ensure that vulnerable clients are identified and supported throughout the customer […]
The Bank of England’s Monetary Policy Committee has voted to keep interest rates on hold at 0.5 per cent, but with an increased number of members calling for a rate rise. Chief economist Andy Haldane has joined those calling for a rise. The BoE revealed that six members voted to keep rates on hold, with […]
The former managing director of a Hertfordshire wealth management firm has been charged with fraud by the City of London Police. Freddy David, previously managing director of HBFS Financial Services, was charged with obtaining money transfers by deception and fraud by abuse of position. David was released on bail to the City of London Magistrates […]
Pension transfers hit a record of £10.6bn in the first quarter of this year, according to Office for National Statistics data. The figures show the value of pension transfers in 2017 was revised up £2.5bn to £36.8bn. AJ Bell senior analyst Tom Selby says: “The Q1 2018 figure also likely includes a large number of […]
By Robin Geffen, fund manager and CEO
This year threatens to be a challenging one for UK dividend hunters. Last year saw an all-time record amount paid out in UK dividends — some £97.4bn, according to research from Capita Dividend Monitor. Yet as Capita also pointed out, out the biggest single factor driving the growth in the fourth quarter of last year was easy to identify: the rising US dollar.
In our view, this trend is much more than simply a one-quarter phenomenon. It is actually the most profound issue to get right as a UK equity income investor in 2015. We believe that the US dollar will continue to strengthen significantly from its current level. This is due more to the US economy’s demonstrable de-coupling from the rest of the world than to a view on the UK. The US has a strong chance of tightening monetary conditions this year without jeopardising growth or de-stabilising its housing market. The same can unfortunately not be said about the UK.
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