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Steve Webb defends Nest focus on caution

Pensions minister Steve Webb has defended Nest’s cautious investment strategy.

The Nest default fund will target long-term investment returns of the CPI plus 3 per cent.

Webb said: “The received wisdom is if you are young and you are investing for 40 odd years, you can be quite risky because although the value could fluctuate it has time to rise over time.

“But Nest asked young people if they minded their pot size fluctuating and as soon as they saw a statement one year that showed their cash had gone down they said: ’who stole my money’. Nest came up with the idea that you are quite cautious in the early years to get cash growth. Some said it was too cautious but it was focused on young people.”


Martin Davis: “We want a clean share class….it is not complicated’

Cofunds has rejected suggestions that Fidelity FundsNetwork upstaged its unbundled pricing model by revealing the fund manager fees it receives, saying the move is “completely irrelevant”. Last week, Cofunds revealed the details of its unbundled charging structure which is made up of a £40 annual charge in addition to a sliding scale of annual management […]

Pick the winners

Negative headlines have been stealing the limelight on both sides of the Atlantic which has led to extreme market volatility and short-term noise is becoming increasingly difficult to ignore. Ironically, we should be widening out our time horizons and thinking more and more long term. Conventional wisdom used to hold that a long-term investment should […]

European equity head Paras Anand quits F&C to join Fidelity

Paras Anand, F&C Investments’ head of Continental European and Pan European equities teams, has quit and will join Fidelity Worldwide Investment in the new year as head of Pan-European equities. Richard Lewis, formerly co-head of New Star institutional managers will be joining Fidelity at the start of November as head of global equities. Both Anand […]

Auto mechanics

Auto-enrolment’s legislative and regulatory stage is ending and it is vital that no more significant changes are made

Inheritance tax when it is relevant

Neil Jones is Technical Support Manager with Canada Life’s ican Technical Services Team. Canada Life offers a range of wealth management solutions, including retirement income planning, estate planning and investment solutions from a choice of jurisdictions, including the UK, Isle of Man and Republic of Ireland. A trust can offer significant advantages when an individual is […]


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