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UK housebuilders remain a value trap – despite post-Brexit falls

By Mark Martin & Holly Cassell, Neptune UK Equities

As investors continue to digest the UK electorate’s vote to leave the EU, Neptune’s Mark Martin and Holly Cassell explain why they believe housebuilders remain dangerously overvalued

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Important information 

Investment risks 

Neptune funds may have a high historic volatility rating and past performance is not a guide for future performance. The value of an investment and any income from it can fall as well as rise as a result of market and currency fluctuations and your clients may not get back the original amount invested. A majority of the investments made by the funds may be in securities of small and medium-sized companies. Such securities may involve a higher degree of risk than would be the case for securities of larger companies. Neptune funds are not tied to replicating a benchmark and holdings can therefore vary from those in the index quoted. For this reason the comparison index should be used for reference only. References to specific securities are for illustration purposes only and should not be taken as a solicitation to buy or sell these securities. Please remember that forecasts are not a reliable indicator of future performance. The content of this document is formed from Neptune’s views as at the date of issue. We do not undertake to advise you as to any change of our views. Neptune does not give investment advice and only provides information on Neptune products. Please refer to the prospectus for further details.


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FCA argues its case to ban ex-Barclays Wealth boss

The FCA has set out its case to ban a former Barclays executive for withholding a report that claimed its wealth management division was “actively hostile to compliance”. The FCA today published its decision notice recommending ex-Barclays Wealth and Investment Management chief operating officer Andrew Tinney be banned and publicly censured for covering up the […]


Sipp firm London & Colonial bought for £5.4m

Sipp firm London & Colonial has been acquired by financial services business STM Group for £5.4m. The STM board says the acquisition will establish the company in the UK Sipp market and lead to £750,000 cost savings annually. The acquisition is expected to complete in December and £3.3m of the deal is being funded by […]


John Cowan: Why we need to make saving compulsory

In the face of unprecedented change, the pensions and savings industry has fared well. Auto-enrolment is performing the job it was supposed to do with only 10 per cent of eligible workers opting out of a scheme so far. The pension freedoms have opened up options for those looking to maximise their retirement income and […]


UK GDP revised up to 0.7% in Q2

UK GDP has risen to 0.7 per cent in the second quarter of the year, which includes the immediate aftermath of the Brexit referendum, up from preliminary figures that suggested it had gone up 0.6 per cent. A major contributor to growth was the service sector, which accounts for nearly four fifths of UK GDP. It rose by […]

Identifying best-in-class UK stocks — Mark Martin, Neptune UK Opportunities Fund

FE Alpha Manager Mark Martin assumed management of the multi-cap UK Opportunities Fund at the beginning of February. As manager of the highly regarded UK Mid Cap Fund, Martin has begun restructuring the new portfolio to focus on our very best UK stock ideas from across the FTSE All-Share Index. In this video, update Martin addresses:

– Themes informing the UK Opportunities Fund
– The multi-cap structure of the fund
– UK equity valuations


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