Experts say the UK investor is unlikely to be significantly affected by last week’s second attempted terrorist attack on London, despite an ongoing consumer slowdown.F&C UK growth and income manager Ted Scott says even prior to the first bombings of July 7, the downturn in the strength of the UK consumer market was evident and that the second bombing attempt is likely to accelerate the damage done to consumer-related stocks, such as leisure and pub companies, but fund managers are already avoiding these. Scott adds that a likely 0.25 per cent cut in interest rates designed to ease the situation was widely anticip-ated before the bombings. He points out that the market is on a four-year high at 5,273 at the time of going to press, supported by continued strength in the oil price. New Star global financials fund manager Guy de Blonay says: “The global markets are more concerned with economic fundamentals than specific terrorist events. The fact that there were no casualties on July 21 has reinforced the market perception that the global terror threat is still present but that it has weakened since September 2001 when markets took longer to rally. The market is no longer in shock – it is prepared for events like this.
Providers are risking significant loss on lifetime mortgage products if their actuarial research is inaccurate, warns financial research company Defaqto. The firm’s equity-release report warns lenders offering guarantees against negative equity that they need to be certain their actuarial calculations and house price projections are robust. Head of banking David Black warns lenders not to […]
Richard Jacobs Pensions & Trustee Services is devising a training course to assist lawyers in completing the new-look pension questionnaire for divorcing couples. From October, divorcing couples will face new disclosure paperwork surrounding their finances. The courts will be able to order respondents to provide a four-page summary of their pension benefits. This includes a […]
The state retirement age should rise to 67 but the public would not accept such a policy, says the Institute for Public Policy Research. The influential thinktank says this is the only way that the pensions system can rem-ain sustainable, given rising life expectancy, and believes the policy should be brought in between 2020 and […]
Prudential is ready to launch its lifetime mortgage product this autumn, focusing on a flexible loan facility allowing customers to draw down more cash the older they get. Addressing concerns raised by the FSA in May, Pru’s Property Value Release Plan restricts customers to drawing down equity in manageable chunks, Money Marketing understands. It is […]
Holly Cassell, Assistant Manager of the Neptune UK Opportunities Fund The decision of the Federal Reserve not to raise US interest rates at its September meeting was met with surprise by many, and has been blamed by some as the chief catalyst for the global market volatility that followed. How does this affect the timing […]
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