Paul Mumford is manager of Cavendish Opportunities, a fund that launched in the late 1980s. Historically, he has tended to focus the fund on the smaller- and mid-cap end of the market. Recently, however, he has begun to pivot back to larger companies, spying potential value opportunities there. He says: “Some larger companies look so crashed-out that you can easily envisage returns if investors take a view on market changes.”
June was not a good month for fund manager Neil Woodford. At the start of the month, the decision was taken to suspend trading for his flagship open-ended fund, Woodford Equity Income, which was unable to cover its redemptions due to a large number of illiquid holdings.
As the curtains closed on the first half of the year, markets across the world were in a jubilant mood.
Almost a month after his Woodford Equity Income fund was suspended, Neil Woodford has released a video that attempts to answer major questions about the future of the fund.
Asked when the fund will resume trading, Woodford gave no clear indication, noting that there was “no prescribed limit” for how long it can remain suspended.
Married pensioners could see their pension fall by two-thirds in the event of their spouses’ death, according to new analysis from Royal London.
Changes made to the state pension in 2016 have meant that the right to claim money on the grounds of a deceased spouse’s pension has largely been abolished.
In the wake of the Neil Woodford debacle, the Investment Association has proposed a new fund structure to provide investors access to illiquid assets.
The past four months have seen our long-term growth portfolio stage a healthy recovery. At the close of January this year the portfolio fell in value by 3.8%, largely because of a sharp dip in global markets between October and December. But markets have rebounded since, and the portfolio returned a respectable 4.2% between February and the end of May.
That return lagged those from the US and other major global indices. Data from FE Analytics shows that the US market produced a return on sterling of 5.6% in those four months.
Asia-Pacific has not historically been a favourite place for income seekers to visit.
The reason why is because companies in the region are often in their growth phase, meaning reinvesting profits is often prioritised over paying dividends. However, even for mature companies, shareholder renumeration was often low on the list of company priorities.
The S&P 500, the main market index across the pond, hit a new record high on Thursday (21 June), closing at just over 2,954.
While the US market previously closed at a record high in early May, throughout the rest of the month investor sentiment slumped on fears over the escalation of the trade war with China and US president Donald Trump threatening to place tariffs on Mexico, among other things.
Pension scheme membership in the UK has risen to new record highs of 45.6 million, according to the Office for National Statistics (ONS).
This has been largely driven by a pick up in private sector defined contribution pension schemes, the result of the expansion of auto-enrolment since 2012.