Former Newton Investment Management fund manager Paul Stephany has been fined £32,000 by the Financial Conduct Authority (FCA) for attempting to cap the price of shares in an initial public offering.
The fund is relatively new – roughly 18 months old – but our investment approach is a bit more established,” says Ken Wotton, co-manager of LF Gresham House UK Multi Cap Income. Over the past decade and more, Wotton has gained a reputation as a skilful stockpicker in the UK equities market. As well as managing the UK Multi Cap Income fund, he has run the LF Gresham House UK Micro Cap fund since 2009. Both funds have been renamed since Gresham House’s acquisition of the funds from Livingbridge in November 2018.
The open-ended active management industry frets about the rise of passive funds and ETFs, but there seems to be no lack of interest from the public in investment trusts.
After a disappointing 2018, US shares bounced back strongly in January, with the S&P 500 index Dow Jones index posting their best January performances since 1987 and 1989 respectively.
The S&P 500 closed the month up by 7.9%, whereas the Dow Jones advanced by 7%.
The number of savers being hit with an emerging tax bill on pension lump sum withdrawals has continued to grow, with new figures released by HM Revenue & Customs (HMRC) showing that pension savers have been overtaxed by £400 million since the pension freedoms were introduced in April 2015.
The Equity Release Council has called for the housing wealth of savers to be included in pension dashboards.
It argues pension dashboards should give savers access to “a complete overview of their accumulated assets to make the best decision when planning how to fund their retirement”.
This year a lot of big names were absent from the World Economic Forum, hosted in the Swiss ski resort of Davos. With the US government in shutdown, president Donald Trump declined to attend, while other key world leaders from Theresa May to India’s Narendra Modi stayed at home.
However, from those who did attend, are there any lessons investors can draw?
Investment funds could soon receive specially designated sustainability and responsible investing (SRI) stamps, allowing investors to better identify funds deemed to environmentally and socially responsible.
The Investment Association (IA) today launched an industry-wide consultation on the idea, seeking the views of fund management firms on the proposals. The consultation ends on 1 March.
This month marks the 35th year of the FTSE 100’s existence. The index, created in January of 1984, has since become synonymous with cautious investing the UK, with FTSE 100 listed companies expected to provide steady dividends and steady returns over the time. The index itself is often referred to as ‘the blue chip index.’