David Butcher

To yield or not to yield? “Yields look attractive again, but what are they telling us this week? The good news is this is not just a UK question.” Read more in the latest #weeklymarketviews from Premier Miton’s Managed Portfolio Service investment team. For investment professionals only. Capital at risk. #investing #marketcommentary #MPS #weekahead

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What a letter The Financial Times from Mark Tennant (I think!) on investment trusts' role in contributing to the UK's wealth! "Investment trusts have three main advantages over their open-ended competitors: first, they can gear; second, they are not subject to portfolio wrecking when markets turn and investors flee; but most importantly they are closed-end funds and are therefore natural vehicles for investors wishing to include illiquid assets in their portfolio. They are an important component in the daunting task facing the new government: increasing GDP. "They are an important component in the daunting task facing the new government: increasing GDP." He suggests: "This is a moment when the sector should get together with pension funds, wealth managers and investment banks to launch massive rights issues underwritten by the pension funds to increase the capacity of private equity and variable capital company trusts by a factor of say £5bn or £6bn." Alexander Denny Gay Collins Stephanie Coxon Nick Britton, CFA, MCSI Nick Gardner Juliet Webber Vanessa Booth Cathy Pitt Simon Elliott Simon Crinage Dan Howe Christian Pittard Stephanie Carbonneil Alex Blake Sachin Saggar Ewan Lovett-Turner Christopher Brown Sapna Shah Tom Harris Tom Poynton Gillian Martin

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This month marks a year since DG Publishing acquired Pensions Expert - and what a year it's been.   🏛 We've had the Mansion House reforms, with wide-reaching effects touching UK investment, consolidation, governance and decumulation. 🛠 The Pensions Regulator is restructuring and pushing for "fewer, larger schemes". 💷 The endgame options for defined benefit schemes have proliferated, aided by healthy funding positions. 💻 The pensions dashboard is gradually becoming a reality. 🗳 And now we've got the small matter of a general election raising a big question mark over the timing of all of these changes.   At Pensions Expert, we want to make sure you get the news, information and analysis you need to navigate this ever-changing landscape. Over the next few months, look out for more insight and analysis looking at the changing face of the DB endgame, the development of pension dashboards, the future shape of the DC landscape, continued pooling of LGPS assets, and much more.   We'll be publishing more multimedia content through videos, interviewing some of the biggest names in pensions, and bringing together industry professionals at our superb events.   In July, just before election day, local government pension professionals will join my colleagues in Hertfordshire for the LAPF Strategic Investment Forum - sign up now (free for LGPS representatives) to join what promises to be an exciting few days. https://lnkd.in/ebKDNsQh   In September, we'll be travelling to Scotland for the DB Strategic Investment Forum on the bonny banks of Loch Lomond. Register for that event here: https://lnkd.in/eN2HZr7E   And I'm looking forward to seeing you and Strictly Come Dancing judge Anton Du Beke at the LAPF Investments Awards on 3 October in London. Enter now for your chance to win big - and remember to keep dancing... 💃 🕺  https://lnkd.in/eWJtpTWK   For more information about upcoming events from DG Publishing, Pensions Expert and our sister title LAPF Investments, visit the DG Publishing website. For sponsorship options for this and other events, please contact my colleagues Jonathan Trinder and Angus Chapman.   As editor, I also want to hear from you, our readers, about how we can best serve your interests. What kind of content is most useful to your job? Is there something missing from the current range of content available that you'd like to see added? What are we doing well, and what could we do better? Drop me a line on LinkedIn or via email, nreeve@dgpublishing.com. 

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So what of smaller companies? Why bother considering small and mid-cap equities with many uncertainties and the prospect of ‘safe’ mid-single digit returns from bonds and gilts? Stuart Widdowson, Odyssean Investment Trust Odyssean Capital LLP explains why #uk #smallcap #specialsituations

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This week, Morningstar published its in-depth annual review of the UK Managed Portfolios landscape. This showed that there has been a steep decline in the number of UK managed portfolios labelled as active, as providers grapple with cost pressures. Read more in Ignites Europe. https://lnkd.in/e9VW_Pn8 #activefunds #passivefunds #ManagedPortfolios

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"Economic and political environments change rapidly, so the client experience needs to be regularly checked." - Ben Wallingford of Incofin Investment Management during #FIW24. Watch this session recording and the rest of the #FinclusionWeek agenda here: https://lnkd.in/e7wexZgE

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Last week our briefing identified bond market risk as a huge threat to the UK economy and to the survival of the Starmer government. Last July our briefing on the UK election "Big but brittle" warned that Starmer's majority disguises an inherently weak position. This morning yields on 30-year UK gilts have risen to a 27 year high There will be more to come as the economic outlook for Ireland's third largest export destination worsens later this year https://lnkd.in/eQ-iJwvu

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Ending the week with a few Fidelity news highlights 🤗 We announced plans to integrate private assets into FutureWise, our default investment strategy for UK workplace pension schemes, via Fidelity’s LTAF, in a significant milestone for Daniel Smith (he/his), James Monk and the team, appearing here in Pensions Age - https://lnkd.in/dmy2HM5W In other news, we were pleased to announce we intend to adopt three "Sustainable Focus" labels as part of the FCA's new sustainability disclosure and labelling regime (SDR), as covered by Darius McQuaid in Money Marketing - https://lnkd.in/du42hrZn With the first quarter of the current century almost complete, Tom Stevenson looks at the lessons investors can take from the past 25 years in The Telegraph - https://lnkd.in/dVr-getJ With inflation rising beyond the BoE’s target, Ed Monk looked at the implications for savers and investors in This is Money - https://lnkd.in/dn3cKYhG Views on Europe’s growth prospects from Salman Ahmed were featured in a report from Reuters - https://lnkd.in/dv6uhDsW Craig Terrington Holly Deegan Katie Jordan Matthew Birtles

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Join the Premier Miton webinar with CIO and lead manager of the Premier Miton Diversified Fund range, Neil Birrell, who will share his views on markets, including why he is now viewing #UKequities in a more negative light, the funds' strategic asset allocation and where the investment team are finding opportunities for growth. For Investment Professionals only. Capital at Risk. #investmentwebinar #diversifiedfunds #multiasset

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https://lnkd.in/ezJAkfG3 Whatever providers do to put private markets into defaults, in many cases it will be down to advisers and consultants to sell the concept of a more expensive default to employers, and for trustees to actually approve implementation. Check out their attitudes to private markets in DC in this research report we carried out in conjunction with Legal & General

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🆕 Find out more about the 𝗖𝗔𝗖𝗘𝗜𝗦 𝗚𝗿𝗼𝘂𝗽’𝘀 𝗻𝗲𝘄 𝗖𝗦𝗥 𝗱𝗶𝘃𝗶𝘀𝗶𝗼𝗻 including the strategy and commitments 👉 https://ow.ly/Z2ce30sClp5 #AssetServing #AssetManagement #ESG #CSR

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