View more on these topics

Sporting chance

I am a great fan of Fidelity and have supported it for over 20 years. I enjoyed its recent Investment Forum but I have given up pestering it to consider using its wonderful research capability to launch a range of ethical and socially responsible funds.

The distasteful part of investment seminars is the enjoyment of making profit by investing in ethically-compromised industries such as tobacco and gambling. The return the fund makes is at the expense of a lung cancer victim or a gambling suicide.

Therefore, it is with mixed feelings that I read about how much money Fidelity, New Star and the rest have lost as Sportingbet, PartyGaming and 888 shares halve in value. Investors, several stages removed from the direct holding, will see their value penalised. Hopefully, fund managers will realise that in the long term there are better ways to invest and enjoy a return and extract their funds from these holdings.

For a while, until the economic cycle brings tobacco and the like back into favour, we can enjoy the better returns enjoyed by those managers who look further ahead and with a greater sense of responsibility.

David Flowers

Director,

Flowers McEwan, Leeds

Recommended

ScotEq reveals double tax-free cash loophole

Aegon Scottish Equitable says it has uncovered a loophole that enables people with deferred pensions to take two lots of tax-free cash. The loophole applies to policyholders who opted to take tax-free cash and defer taking the pension before July 27, 2004 but did not tell the scheme administrator or the trustee that they intended […]

HSBC pays 45k for TCF chief

HSBC is recruiting a treating customers fairly manager on a salary of up to 45,000 plus benefits. The job is based in the firm’s Canary Wharf office in London’s Docklands with the aim of embedding the FSA’s TCF initiative across the bank’s business. The manager will be involved in strategy, sales, advice, product design and […]

Halo hello for pta

Amanda Newman says the new deal for pension term assurance has seen the product make a major impact in the protection market but some brokers have misgivings

Thumbnail

Neptune video: UK economy: a sustainable recovery?

After years of a slowly brewing economic recovery, the UK has seen a strong rise in growth in recent months. Mark Martin, manager of the Neptune UK Mid Cap Fund, discusses the strength of this recovery and whether it is sustainable.

In the video, Martin addresses the following:

• Structural features supporting the UK economy
• UK mid-caps and the potential for M&A activity
• Valuations and opportunities in house builders

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com