|Autumn Statement 2016: a reminder of the key financial planning announcements||
The recent Autumn Statement was ostensibly quiet on the financial planning front. However, there were some important
|Property fund suspensions - Update||
As markets have come to terms with the shock result of the EU referendum, the bricks-and-mortar property funds on the clarity buy list have been rebuilding their liquidity. The current position of each is as follows.
|Fixed and Individual Protection 2016: HMRC’s online application now available||
If you need to apply for Fixed Protection 2016 or Individual Protection 2016, HMRC’s new online application system is now available here: https://www.gov.uk/guidance/pension-schemes-protect-your-lifetime-allowance. You will need to register for an HMRC online services account, if you do not already have one.
|clarity EIS Alert August 2016||
The EIS is a similar type of scheme to a VCT, aimed at encouraging investment in smaller companies. Companies must fulfil certain criteria to be eligible for EIS investment but the promoter or fund manager will normally confirm eligibility at the time of the fundraising. The qualifying company must have gross assets of no more than £15m (with a cap of £16m post investment) prior to the fundraising.
|Property Fund Suspensions - Update||
Further to our recent email alert Aberdeen Property Trust has announced that the fund will be suspended until noon on Monday 11th July. From this point it is intended that redemptions will be permitted, but with a dilution discount of 17%. This is of course in addition to the ‘fair value adjustment’ of around 5% which independent valuers have recommended. The intention behind this discount is to treat fairly both continuing investors and those who wish to disinvest.
|Property fund suspensions||
Clients may have noticed that a number of funds invested in ‘bricks-and-mortar’ assets have announced they are suspending withdrawals and new investments on a temporary basis, which will be reviewed every 28 days. This stems from a considerable amount of nervousness in the market surrounding valuation of commercial property following the Brexit vote, resulting in investors pulling cash out of the funds.
|Brexit Referendum – Result||
Needless to say, investors will now be considering the effect that the recent Brexit vote will have on their portfolios.
|Budget 16 March 2016 – Potential Pension Changes||
The chancellor is set to announce the outcome of a review into the existing pension tax relief regime in the Budget on 16 March 2016.
There has been a great deal of speculation regarding changes that may be made to the existing pension framework as a result of this review. We have considered a number of potential outcomes below and outlined how these may affect your pension planning. It is important to note that any potential changes outlined below are based on speculation and may not come to pass.
|21st Century Fox in bid approach for Sky||US media giant 21st Century Fox has made a takeover approach for Sky, the UK-based satellite broadcaster.||09/12/2016 20:37:51|
|Unpaid benefits at record level||A total of £1.7bn in benefits was not paid to those entitled to the money in 2015-16 owing to fraud and error.||09/12/2016 13:28:03|
|Monte dei Paschi shares plunge on ECB reports||Shares in Italy's Monte dei Paschi di Siena bank fall sharply following reports that it will not get more time to raise cash.||09/12/2016 15:02:27|
|Food industry warns of higher prices without EU workers||The UK faces higher food prices without continued access to EU workers, 30 trade associations have warned.||09/12/2016 12:17:22|
|New high-speed Intercity train unveiled||A new high-speed Intercity train developed at a County Durham factory rolls off the production line.||09/12/2016 16:05:39|
|UK trade deficit narrows in October||The UK trade deficit in goods and services narrowed to £2bn in October as exports rose, official figures show.||09/12/2016 10:57:58|
|Sumitomo to buy banana company Fyffes||Irish fruit distributor Fyffes says it has agreed to be bought by Japan's Sumitomo Corporation.||09/12/2016 08:54:58|
|FTSE 100 bolstered by Sky share surge||The FTSE 100 sees its fifth consecutive day of gains, with Sky shares staging a late surge.||09/12/2016 17:08:58|
|Fox returns to Sky with post-Brexit vote approach||£18.5bn valuation comes five years after phone hacking scandal scuppered first bid||09/12/2016 18:10:23|
|Italy: Grillo’s party moves focus to centre ground||Grillo’s movement has mastered politics of rejection but needs a positive platform||09/12/2016 16:53:28|
|ECB rejects Italy’s plea for Monte dei Paschi delay||Rome now left with little option but a government bailout of ailing bank||09/12/2016 17:27:27|
|Goldman’s Cohn in frame for Trump economic role||Bank’s president has been seen as the likely successor to Lloyd Blankfein||09/12/2016 18:46:59|
|Obama orders probe of Russia election hacking claims||Intelligence review of alleged foreign interference to consider some kind of response||09/12/2016 19:03:44|
|Johnson refuses to apologise over remarks||PM calls foreign secretary to Downing Street over comments on Riyadh’s ‘proxy wars’||09/12/2016 17:46:43|
|American psyche: Michael Lewis on the triumph of irrational thinking||The writer talks about how ‘the marketplace for politicians did something as weird as the marketplace for securities’||09/12/2016 10:01:25|
|Knowledge is driving force for hedge fund maestro||Sir Michael Hintze is enjoying one of his best years at CQS as rivals suffer||09/12/2016 13:18:12|
|What Is Value Investing?||While Buffett's investing style has evolved over the years, value investing undoubtedly best encapsulates the core tenants behind the famed investor's success.||09/12/2016 15:54:00|
|Why NCI Building Systems Inc.'s Shares Popped 12% Today||Earnings weren't as strong as expected, and that has sent NCI Building Systems' shares lower to end the week.||09/12/2016 15:43:00|
|Better Buy: bluebird bio, Inc. vs. Kite Pharma||Will bluebird bio or Kite Pharma be the bigger winner in the CAR-T race?||09/12/2016 15:41:00|
|RigNet Inc's Stock Caught Fire on Friday||A rising tide lifted the offshore communications services company's stock at the end of the week.||09/12/2016 15:40:00|
|1 Reason NVIDIA Investors Need to Worry||NVIDIA is dominating the discrete GPU market, but a potential threat lurks around the corner.||09/12/2016 15:32:00|
|Why Emergent Biosolutions Inc. Stockpiled a Higher Price Today||The biodefense specialist finally has a signed contract with the CDC.||09/12/2016 15:24:00|
|Cohen's Point72 Bets Big Ahead of Ophthotech Corp. Trial Results||Ahead of pivotal phase 3 study results for Fovista, hedge-fund icon Steven Cohen's Point72 has reported a 5% ownership stake in Ophthotech.||09/12/2016 15:22:00|
|Graduating in 2017? Here's What You Need to Know||If you're one of the millions of student loan borrowers, here's a quick guide to what you should expect after college.||09/12/2016 15:06:00|