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Charles Stanley weighs in again after Woodford trust’s FTSE demotion

Having cut Neil Woodford’s flagship Equity Income fund from its list of preferred holdings just a week ago, Charles Stanley Direct has taken a more optimistic position on the star manager’s Patient Capital Trust.

Charles Stanley Direct says that now might be the right time to buy into the trust, despite its relegation from the FTSE 250 yesterday.

As at its relegation, shares were trading at 74p, down from £1 at launch in 2015, but still a 12 per cent discount on an estimated net asset share price of 83p.

Platform Focus: Charles Stanley Direct – well heeled but reassuringly inexpensiveAs opposed to the household names that feature in his equity income funds, Charles Stanley notes that Woodford’s venture capital approach in the trust, combined with a closed-ended structure offering better liquidity, means that bets in early-stage companies may pay off for investors.

Charles Stanley Direct pension and investment analyst Rob Morgan says: “There are some FTSE tracker funds that own the Trust that will be forced to sell when it is no longer a constituent of the index, though many such index funds tend to exclude investment trusts, and it is likely that all of this could add to depressed investor sentiment.

“However, the relegation could prove a good entry point for those that believe Mr Woodford’s assertion that the trust has stakes in several companies that could be worth billions of dollars each in the future.”



FCA robo review a wake-up call for the industry

An FCA review of automated investment advice has given a wake-up call to robo-advisers to meet the same standards as traditional advisers. Finance & Technology Research Centre director Ian McKenna says the regulator has worked hard with the industry to raise standards and he now hopes it can do the same with robo-advisers. He says: […]


Has the FCA forgotten about the advice gap?

Robos came under fire this week, with an FCA review finding serious failings in terms of suitability and disclosure. Adviser comments soon followed, praising the regulator for finally getting tough on automated advice. Here are a few extracts from the FCA: Some firms did not make clear whether their service was advised, non-advised, discretionary or […]


How much are advisers charging for pension transfers?

Defined benefit pension transfer charges are being put under the microscope again as the regulator turns over more potential conflicts of interest. With the British Steel Pension Scheme the latest to dominate headlines and the FCA ready to interrogate further as it extends its review to include all firms authorised to give pension transfer advice, […]

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SJP defends report claiming its charges are mid-range

St James’s Place has defended the findings of a report that shows how its charges stack up against those of its peers. Advisers questioned the methodology behind the Grant Thornton Adviser Charges Report, which is not publicly available but was published in part in SJP’s 2017 results. Money Marketing obtained a condensed version of the […]


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