My recommendation is to get out of all closed with-profits funds unless you need the life cover and cannot get it elsewhere, to stay with companies which have 60 per cent or more invested in equities and commercial property and to take advice on those with less than 60 per cent invested in those sectors.Investment expertise is of vital importance. For example, Prudential has shown excellent invest- ment returns over the past two years, with its with-profits fund being up by 16.5 and 13.4 per cent in 2003 and 2004. Only Wesleyan beat it in those years although Prudential performed better than Wesleyan in 2002 and 2001. Wesleyan has a total of 85 per cent invested in equities and property. Another company I like is Liverpool Victoria, with a total of 77 per cent in those two sectors and a first-class investment record. Scottish Widows has a poor investment record and only 55 per cent in equities and property. Standard Life has a slightly better investment record but only 50 per cent invested in the two sectors. However, it was forced by the FSA to sell equities at the wrong time. My recommendations are Prudential, Liverpool Victoria and Wesleyan.
IN Partnership forecasts mass amalgamation of smaller networks and says it is seeking a merger itself by the end of this year. The network, which has 500 registered individuals and over 200 firms as appointed representatives, says smaller networks cannot remain profit- able if they do not improve economies of scale. Chief executive Kevin McDonagh […]
The subject of trustee investments has crossed the mind of many an adviser over the years. Especially for those seeking to do business with other professional advisers, working in this market seems like a classic case for effective collaboration. And it is, but it is not easy.
Lower levels of volatility in equity markets hit returns for fund of hedge fund managers in the first half of the year.
The court will take into account all the assets of a married couple when deal- ing with their divorce. We can consider each of them in turn and then return to them collectively.
By Mark Martin, Head of UK Equities, Neptune Investment Management The start of 2016 has been one of the most tumultuous periods in recent years for UK markets, with the FTSE 100 Index briefly entering bear market territory in the middle of January. Fuelled by a collapse in the oil price and escalating concerns over […]
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Lawyers who represent investors against Berkeley Burke over allegations of mis-sold Sipps estimate more than 1,000 claims could be in the pipeline. The High Court has approved a group litigation order relating to claims against Berkeley Burke Sipp Administration, and those affected have until 23 July 2018 to register to join the group action. It […]
Do not be spooked by recent falls. The bull market has further to run. Stockmarkets have been thriving in the not-too-hot, not-too-cold “Goldilocks” backdrop of the last few years. Growth has been strong enough to boost profits, and inflation low enough to keep central bank policy loose. Recent stockmarket weakness is centred on signs that […]
The FCA continues to engage with the asset management industry on new European regulations as questions remain over how firms should report costs and charges. After over a month since Mifid II and Priips came into force, concerns have been raised on how fund fees, in particular transaction costs, should be calculated under the two […]