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The Sunday Times leads with a story about howP2P bosses promised to cut risk. Now they’re about to cut returns; the paper reports that funds to cover defaults are nearly tapped out and savers’ cash could be next on the line.
It appears that Hargreaves Lansdown share tips were worse than guessing; more than half the funds recommended by the firm in its best-buy list this time last year have achieved lower than average returns.
They also predict two more years of misery for investors trapped in Dubai bonds; investors who put their nest eggs into failed high-risk bonds may have to wait another two years before they receive a penny of their money back.
Intriguingly, the final valuation of the assets held in Neil Woodford’s Equity Income fund will occur on Friday, it has been confirmed.
This starts the winding-up process that will reveal how much money investors will get back (mmm, really?) and how much they will have lost.
The Sunday Telegraph tells the tale of a client who says ‘We have two mortgages and someone else pays the interest’. The paper suggests that if you’re struggling to sell your home, you may consider renting it out instead.
There’s always some smug in the Sunday Money pages, and I could barely bring myself to open “I bought 10 shares on election day – and this one jumped 14%”. To tell the truth, I never got to the end but your clients may have…
The Mail on Sunday issues a warning as TSB hails a boom time for banks: by all accounts, senior management tells staff of a more ‘sympathetic’ era for the financial sector in a leaked memo.
They tell how Britons donated £10bn to good causes last year, and suggest how your clients can benefit from being charitable.
A minor mantra for Monday…” I’m sorry, if you were right, I’d agree with you.” (Robin Williams)