With the Bank of England warning of a sharp fall in sterling, would leaving the EU be a buying opportunity? June 17, 2016 Jason Hollands, managing director of Tilney Bestinvest, says Yes. A Leave vote will likely lead to a knee-jerk reaction in the markets, led by a sharp slide in sterling. However, far from hitting the panic button, I would see an indiscriminate slide in UK equities on the back of a Leave vote as a potential buying [...]
One fifth of pension professionals aren’t confident about scheme valuations June 16, 2016 One in 20 pension professionals said their confidence levels in the asset and liability valuations of the schemes they work is less than 50 per cent, according to a global survey by investment manager State Street. And 77 per cent of survey respondents said the challenge of navigating the adoption of new investment strategies was "high" or [...]
Why Avant’s Al Goldstein is excited about partnering with big banks June 16, 2016 Despite being just four years’ old, Avant Credit is one of the largest marketplace lenders in the alternative finance industry. The US firm has been operating in the UK since 2013, and has issued over half a million loans to consumers, totalling more than $3bn in originations. Avant isn’t a P2P lender – it uses [...]
Before the bell: What you need to know before the US market open June 15, 2016 Fed day is here chair Janet Yellen is unlikely to do anything that would surprise the markets. We'll have the decision at 7pm London time and then wait to hear from the lady herself at 7:30pm. Here's what you need to know before the market open at 14:30 London time. US futures are pointing up [...]
Savers should plump for cash over shares, study says June 15, 2016 Savvy savers should opt for a best buy cash savings account over a FTSE 100 tracker, according to new research which challenges conventional wisdom. The study by financial journalist and BBC Money Box presenter, Paul Lewis, found that this type of savings account beat the tracker in 57 per cent of 192 five-year periods starting each month from 1 January [...]
Former Standard Life director in line for top governance position at Woodford’s fund June 14, 2016 Neil Woodford, the star City investor, is set to name ex-Standard Life director Marcia Campbell as the next chair of its oversight board. Campbell – who held various roles at Standard Life over the course of two decades, including running its operations in the Asia-Pacific region – will replace Mary Reilly, who has beenin the job since the position was created in 2014. [...]
It’s time to bring retirement into the twenty-first century June 14, 2016 Few words can stop a conversation as quickly as “retirement”. Many of us can hardly bear to think about it, never mind talk about it. Others – just under half, according to our latest Investor Pulse survey – do save for old age, but with no confidence we’ll get the income we want at the [...]
Scottish Widows reveals £630m bulk annuity buy-in deal with the ICI Pension Fund June 14, 2016 Scottish Widows announced today that it has secured a £630m buy-in with the ICI Pension Fund. The buy-in, which is essentially an insurance policy deal for pension benefits and will cover over 4,000 of the fund’s pensioner members, is Scottish Widows' largest external bulk annuity transaction to date. "We are delighted to have been chosen by the trustee of the [...]
Total deficit on pension schemes eligible to board the pensions lifeboat grew by more than £20bn in a month June 14, 2016 It could be a tight squeeze to board the pensions lifeboat, as figures released today revealed that the total deficit value of the schemes eligible to join increased by more than £20bn in a month. The latest PPF 7800 Index figures, which keep track of the funding position of the defined benefit (DB) pension schemes eligible for [...]
Before the bell: What you need to know before the US market open June 14, 2016 Brexit fears are dragging down markets and Germany's 10-year bond yield has turned negative. Here's what you need to know before the market open at 14:30 London time. US futures are pointing down again today, suggesting the bad start to the week is going to continue. The S&P is off by 0.22 per cent. The Nasdaq is 0.26 [...]