Inheritance tax receipts hit record high ahead of expected Budget reforms October 22, 2024 The government raked in £4.3bn from inheritance tax in the six months to September, a nine per cent rise on the same period last year, as Rachel Reeves lines up reforms to the unpopular tax in her Budget next week. According to figures released by HMRC on Tuesday, the Exchequer received £736m from inheritance tax [...]
Scrap FTSE 250 share tax to save small UK companies, says City October 17, 2024 Urgent measures like cutting stamp duty on FTSE 250 shares are needed to save smaller British companies, a group of City heavyweights have argued. In seven of the past 10 years, more listed small companies have left the UK stock market than joined it, and this trend will continue unless serious action is taken, a [...]
Fundsmith Equity plummets down most bought list as passives dominate October 15, 2024 Fundsmith Equity, the largest investment fund in the UK, fell 12 places down Interactive Investor’s most bought list in the third quarter of 2024, as passives cemented their majority on the list. The £23.8bn fund, run by star fund manager Terry Smith, fell from eighth on the list to 20th, the biggest movement of any [...]
Abrdn: UK small companies are cheapest and best-performing stocks in the world October 14, 2024 The UK smaller companies market is both the cheapest and best performing in the world, new research from Abrdn has revealed. The analysis of Britain’s smallest listed businesses comes as speculation over the Budget have left many AIM stocks sliding, thanks to rumours of a proposed repeal of inheritance tax relief on the junior market [...]
Abrdn trust to strike £350m deal with Travelodge owner September 26, 2024 Abrdn Property Income fund is in “advanced discussions” to sell almost all of its portfolio to fund managed by Travelodge owner, Goldentree Asset Management. The £227m investment trust saw a bid from Custodian Property Income REIT voted down earlier this year, leaving the trust to begin winding down. Only 60.8 per cent of Abrdn shareholders [...]
Fidelity and Abrdn among backers of new investment platform trade body September 22, 2024 Fidelity and Abrdn are among the big names to have joined a new trade body for online financial sites as the industry faces regulatory scrutiny and a government shake-up.
Post-Brexit regulation caused ‘three lost years’ of infrastructure investing September 19, 2024 The outdated post-Brexit regulation around investment trust cost disclosure set the UK back by three years on infrastructure, asset manager Abrdn has revealed. Cost disclosure rules, which required investment trusts to ‘double dip’ their fee reporting, have finally been lifted by the government and the Financial Conduct Authority today, leaving the trust industry overjoyed. “What’s [...]
Investment trusts celebrate move to reform cost disclosure rules September 19, 2024 The UK has finally exempted investment trusts from complying with cost disclosure requirements that industry experts say could unlock billions in investment. In a statement today, the government and Financial Conduct Authority said regulators would temporarily withdraw the requirements, which campaigners have argued force trusts to ‘double count’ their fees. While this is also the [...]
Jason Windsor appointed as Abrdn’s permanent boss September 10, 2024 Asset manager Abrdn has appointed finance chief Jason Windsor to be its new permanent chief executive, after Stephen Bird abruptly stepped down in May.
Thames Water creditors in funding drive to dodge special administration September 6, 2024 A group of Thames Water’s creditors are devising backup plans for a renewed injection of cash in a bid to prevent the firm from being effectively renationalised. The UK’s biggest water company is struggling under an £18.7bn debt crisis, and is in talks with lenders to provide it with fresh funding. The floundering utility firm [...]