Fri, 8 July 2016
In this episode of Informed Choice Radio, Martin talks about about the recent spate of property fund suspensions – why won’t they let me sell my property fund?!
He also speaks to Nick Peters, a portfolio manager at Fidelity International, about interest rates, the global economic outlook and whether now is the right time to sell out of bonds.
There is also a roundup of the latest personal finance news and an update from the world of Informed Choice.
They won’t let me sell my property fund!
The big issue this week in the world of investment management has been the suspension of trading in several popular commercial property funds.
At the start of the week, Standard Life Investments suspended trading in their £2.9bn UK Real Estate Fund, citing ‘exceptional market circumstances’. This suspension will stay in place until it is practicable to lift it and will be reviewed at least every 28 days.
It was the first time a UK commercial property fund has been closed since the global financial crisis in 2008. The company said on Monday, “The suspension was requested to protect the interests of all investors in the fund and to avoid compromising investment returns from the range, mix and quality of assets within the portfolio,”
In this episode of Informed Choice Radio, Martin explains the reasons for the suspensions and why he believes it is no big deal for investors.
Martin also speaks to Nick Peters, a portfolio manager at Fidelity International, about interest rates, the global economic outlook and whether now is the right time to sell out of bonds.
Personal finance news update
-Sterling has fallen to a 31 year low against the US dollar, despite making modest gains relative to the embattled euro.
-House price growth fell to an average of 8.4% in the year to June, down from 9.2% in May.
-The cost of mortgages has fallen to record lows, with the markets betting on an interest rate cut next week.
-Identity thieves are hunting for potential victims on social media websites.
-It costs more to raise girls than boys, according to new research by Sainsbury’s Bank.