The Sunday Times exposes the £50bn Prufund, a collection of investments run by M&G, which slashed predicted payouts by up to 40% while share prices boomed.
They also ask what is the point of using an asset manager? Passive investments, apparently, are cheaper and can deliver better returns.
James Coney opines “It’s our money, fund bosses, so tell us where it is invested”. It’s probably fair to say James isn’t the FCA’s hugest fan.
The Sunday Telegraph tells us that the IMF expects British GDP to drop by 10% this year, so suggests 5 funds to get us through the coming recession.
They also re-explain the rules to people on furlough and how they can claim their 80% pay – clearly still an issue this far into lockdown.
There’s also important information about claiming self-employed grants, and the scheme’s potential extension.
The Mail on Sunday reports that investors are backing a great British brand at what could well be a bargain price; Marks & Spencer is about to implement a strategy designed to change its image and direction, embracing the data-driven model of retailing.
In the wake of the Wirecard disaster, the paper reflects on 12 great scandals that rocked the business world.
In terms of opportunities, they note that online shopping has surged to new levels during coronavirus lockdown, so if you want big profits, try looking in a giant warehouse.
Just a thought, considering the current pandemic; seems a reasonable hypothesis to me…
“The Earth is God’s pinball machine and each quake, tidal wave, flash flood and volcanic eruption is the result of a TILT that occurs when God, cheating, tries to win free games.”
Weird week, behaviour wise – please stay safe and let’s all just hope that people realise how important it is to keep our distance.