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The Sunday Times reports that the hedge fund tycoon known as the Rottweiler is splitting one of his funds to stave off a Neil Woodford-style liquidity problem. Toscafund, run by Martin Hughes, has written to investors saying the Mid Cap fund’s harder-to-sell assets would be hived off into a separate portfolio.
Healthcare companies are at the forefront of the fight against the coronavirus pandemic, and if your clients are looking to invest, the paper suggests the trick is to pick the firms best placed to help the world out of the crisis.
Regarding the £25bn exodus from US funds, it appears that investors are abandoning the US amid fears about its handling of the coronavirus crisis, and tentatively moving billions of pounds back into China. Which, call me ubercynical, is where I thought the whole mess started in the first place…
They urge readers not to ‘wash their hands’ of stocks when they could be ‘cleaning up’ – prices have plunged, so they should ‘pack their shopping bags’ with shares in those steady companies that make some of life’s essentials.
The Sunday Telegraph reveals the £16,000 reason some people don’t qualify for Universal Credit – even if their income is destroyed by coronavirus.
They suggest that diversification has failed and advise how to invest when all prices fall, the thinking being that when stocks move by exactly the same amount at the same time, diversifying investments achieves nothing.
Homeowners are told they ‘should cash in’ as banks reduce mortgage rates; currently, remortgage deals are available with rates lower than 1%.
Investors are advised to ditch funds to preserve income as dividends plummet 30%; swapping from funds to investment trusts could save money, boost returns and secure income.
The Mail on Sunday reports a cash crisis at half of small firms: a devastating bank memo lays bare how millions will run out of money in just eight weeks if lockdown continues.
They have a piece about Terry Smith, the fund boss millions put their faith in – how is the man they call the British Warren Buffett handling the great crash? They reckon controls haven’t inhibited him in running his well-honed Fundsmith investment empire spanning London, Connecticut and Mauritius, where he has lived for the past six years.
They offer a coronavirus cashback hack, highlighting a new scheme which could help your clients knock thousands off their mortgage and pay it off early. Takes all sorts…
Before we go – “You’re only given a little spark of madness. You mustn’t lose it.” (Robin Williams)
Stay well, healthy, happy, safe and at home, if possible.