The Adviser Fund Index panellists would have fared better investing their equity exposure in British shares over the past six months rather than spreading allocation overseas.Just one-third of the 108 Aggressive AFI constituents have posted positive returns in the six-month period to August 9, according to Financial Express. The majority of equity funds in positive territory over the period invest in the UK stockmarkets. The two top-performing British equity funds in the Aggressive index were Neil Woodford’s Invesco Perpetual income and Invesco Perpetual high-income funds, posting returns of 7 per cent and 6.8 per cent respectively. Of the 36 funds that increased in value over the last six months, 28 invest principally in shares, including 20 UK equity funds. The remaining eight portfolios are either specialist sector-based mandates or European equity funds. Outside of Britain and Europe, the best-performing fund over the period was Gartmore China opportunities, down by 1 per cent. The worst-performing regions were Japan and North America. Of the 16 funds that are down by more than 10 per cent over the period, eight are in the IMA Japan sector and five are in the IMA North America sector. Bottom of the pile of Aggressive AFI constituents was Legg Mason Japan equity, losing 41.7 per cent of its value. Falling 16.8 per cent, Gartmore US opportunities fared worst of the Aggressive index funds in the IMA North America sector. The top Aggressive AFI performers in the IMA’s North America and Japan sectors were Franklin Mutual shares (down 3.8 per cent) and Schroder Tokyo (down 9.4 per cent) respectively. Geographical diversification in equities has not paid off so far this year, exposure to commercial property has contributed strongly. All three property funds in the Aggressive index are among the top five performers, with Swip property trust posting the highest return. The portfolio rose by 9.4 per cent over the half-year period to August 9. The Investment Property Databank UK Monthly index returned 9.7 per cent in the six months to June 30, 2006. This compares with a 6.1 per cent increase from the FTSE All-Share index.
Further to the article in the August 3 edition of Money Marketing, headlined, Standard complains over loophole that it revealed, scheme pensions could in the future form a very valuable option for self-invested trust-based money-purchase arrangements. Historically, scheme pensions have been paid from defined-benefit schemes, where the scheme trustees take on the onus of payment […]
Prosperity doth bewitch men, seeming clear, as seas do laugh, show white, when rocks are near.”
The Association of Finance Brokers has launched a payment protection insurance checklist to give members guidance on PPI sales procedures.The checklist has been produced in response to the Office of Fair Trading’s damning report on PPI which found that providers are making massive profits on the back of low claim ratios.The FSA has also urged […]
The IFA Defence Union has formally applied to the High Court for a judicial review against the Financial Ombudsman Service for allegedly breaking European human rights law. The application was made in person last week by ATE Risk legal risk analyst Andrew Wesson, who will organise the underwriting of the union’s case if it reaches […]
New research has proven the positive impact that protection, health and wellbeing (PH&W) benefits have upon a business.
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As someone training to be a cricket umpire, fair play matters to Fortitude Financial Planning director Chris Bowmer. Doing the right thing for clients is something he has adhered to from the start of his career, even in a 1980s sales environment with nothing to gain by delving beyond a client’s surface requirements. While he acknowledges […]
Fund managers who have helped pay compensation over the collapse of life settlement bond provider Keydata will receive a £12m refund, the Financial Services Compensation Scheme has announced. Keydata’s management has been embroiled in a multi-million-pound legal battle with the FCA since it collapsed in 2009. The total bill for compensation stands at more than […]
With no employer to fall back on, the self-employed are on their own when it comes to retirement saving. Irregular income patterns can make it harder to save regularly into a pension and commit to locking money away until age 55. Those who are building a business may see that as their biggest asset and […]