What do negative bond yields mean for investors? October 28, 2019 | City Talk As the synchronised slowdown in the global economy continues, central banks have yet again stepped in to attempt to extend what has already been the longest economic and stock market expansion in history. With interest rates across the world already low and in some cases negative, the stark reality is that the future impact of [...]
Keep retail investors in separate funds, says FCA head October 28, 2019 Retail investors could have their money separated from institutional funds to better protect individuals following the collapse of Neil Woodford’s investment empire, the head of the financial regulator has said. Financial Conduct Authority (FCA) chief executive Andrew Bailey said in an interview with The Times that he did not think the mixing of institutional and [...]
Assets under management fall for top firms but ESG bucks downward trend October 28, 2019 Assets under management (AUM) at the world’s largest managers declined overall in 2018 as subdued equity markets weighed on the industry, but those managed in Environmental, Social and Governance (ESG) mandates grew substantially. AUM at the 500 biggest firms fell three per cent during the year but those managed in ESG mandates rose 23.3 per [...]
Neil Woodford and partner received £20m dividends amid crisis October 28, 2019 Former star stockpicker Neil Woodford and his business partner Craig Newman reportedly raked in dividends close to £20m in the last financial year as the crisis that would lead to the closure of their investment firm escalated. The figure, which covers the year to March 2019, is based on analysis by the Financial Times. Read [...]
The six biggest bull runs since 1962 (and their corrections) October 28, 2019 | City Talk The current bull market in US stocks started in March 2009 at the height of the global financial crisis and is the longest in recent history, beating the rally between July 1962 and May 1970 by over four years. At the time of writing, the bull market is still going. US stocks are up more [...]
Which stock markets are “cheap” entering the final quarter of 2019? October 25, 2019 | City Talk There are plenty of reasons why investors could justifiably feel pessimistic about the future, but stock market valuations are not one of them. In 2019 the global economy has gone into a marked slowdown. US-China relations have remained tense. Drones have attacked oil infrastructure in the Middle East. Global corporate earnings growth has collapsed towards [...]
‘Part of the criticism we face is justified’, says FCA head October 24, 2019 The head of the Financial Conduct Authority (FCA) will say that some criticism of the watchdog is justified in a speech given in the City this evening, and that consumers need to be better warned about the risks related to investment. Speaking at the Lord Mayor’s City Banquet at Mansion House, Andrew Bailey is expected [...]
AJ Bell reports growth in customers and assets under administration October 24, 2019 AJ Bell has reported strong growth in customer numbers and assets under administration (AUA) for its first full year of trading since listing. In a trading update issued this morning, the investment platform said customer numbers had increased 17 per cent during the year to 30 September, hitting 232,066, while total AUA rose 13 per [...]
DEBATE: In the wake of the Woodford scandal, is there enough oversight of fund managers? October 24, 2019 In the wake of the Woodford scandal, is there enough oversight of fund managers? Yes – Darius McDermott is managing director of FundCalibre There were a number of issues I took strong exception to in this week’s BBC Panorama programme on the Woodford saga, but the conclusion that there is very little regulatory oversight of fund [...]
Watchdog goes green with new stewardship code October 24, 2019 Fund managers have been called upon to think green by a new code that calls for investment firms to focus on “sustainable benefits for the economy, the environment and society”. Climate change has appeared as a key governance concern in the Financial Reporting Council (FRC) framework for the first time, as the watchdog tries to [...]