Fund of hedge funds manager 3A has taken the unusual step of disclosing all the holdings in its closed-ended Altin portfolio and this is helping to narrow its discount to net asset value.
Leading investment firms are reporting a strong end to the Isa season, with Neil Woodford’s Invesco Perpetual high-income fund leading the way.
Paying for performance is under increased scrutiny as fund management houses look to justify fund charges in light of steep losses felt by investors. While top-performing funds may be able to command or maintain a higher charge, the pressure on fees will be felt on those which have underperformed. With equity markets still struggling to advance significantly, this trend is likely to accelerate.
The Bank of England has held the base rate at 0.5 per cent and has also reaffirmed its commitment to £75bn of quantitative easing.
At the end of July, the Pensions Regulator issued its quarterly update on auto-enrolment (AE) compliance by employers in the UK. The full report can be seen under the quarterly bulletins section here.
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