Investors could be forced to give property funds six months’ notice to make withdrawals, under plans to avoid managers bringing the shutters down whenever markets turn volatile.
Investors saw a wave of fund suspensions when the Covid-19 crisis kicked off in March, having already experienced the same following the Brexit vote and the financial crash in 2008, trapping £12.5billion of cash.
For many businesses, a company rebrand during a pandemic outbreak may not factor high on a list of priorities.
But for Mark Incledon, chief executive of the newly branded Bowmore Wealth Group, the change is the culmination of his long-term plans for what was previously The Citimark Partnership.
“It’s always been my ambition to provide quality asset management with chartered financial planning. After 30 years in business, this significantly increases our offering while securing the future of our business,” Mr Incledon says.
Since our last quarterly market overview, global stock markets have staged an impressive rally following unprecedented support from central banks and governments to stem the threat from the coronavirus. This support is certainly one of the catalysts for the rally and more recently, a case of FOMO (fear of missing out) and TINA (there is no alternative) for investors has fuelled the rally further.
The Chancellor’s Summer Statement was squarely focused on getting the UK economy back to work. Rishi Sunak detailed his £30bn stimulus package of grants and tax cuts primarily aimed at the leisure and construction sectors.
As you might expect, questions came thick and fast as to how the unprecedented level of government spending would be paid for, but the Chancellor was determined to shelve the gloomy thoughts for another day.
Owen Moore, Investment Manager at Bowmore Asset Management Ltd
A very small minority of investors are in the enviable position where their investable assets form part of a much wider estate. Whilst these individuals or families may need to call upon their investments from time to time often the main objective for these pots of money are to serve generations to come and guarantee a certain level of lifestyle.
Conventional wisdom suggests that value investing (buying companies at prices lower than their intrinsic value with a view to realise that value in the future) outperforms growth investing (buying companies looking to grow their revenue and market share, and therefore grow their overall value). That is, it had been conventional wisdom up until recently.
Bowmore Asset Management Ltd is authorised and regulated by the Financial Conduct Authority (626431)
Bowmore Financial Planning Ltd is authorised and regulated by the Financial Conduct Authority (115180)