The Sunday Times notes that Neil Woodford’s empire lies in tatters, and now his protégé Mark Barnett (who runs the Invesco Income and High Income funds) faces a similar headache.
They also offer advice to savers who have been bitten by Woodfordgate as to what to do when they get any cash back – which they say won’t happen before mid-January at the earliest.
It also reports that interest rate cuts could be on the horizon for people who save with Goldman Sachs’s consumer brand Marcus.
Its account currently pays an impressive 1.45% interest, dropping to 1.35% after a year. However, an email sent last week to customers announced that the terms were changing, and would now allow rates to be cut with just two weeks’ notice.
The Sunday Telegraph asks its readers if they thought the top rate of tax was 45%? Because hundreds of thousands pay 62% – and it’s sapping the economy.
The paper also looks at the lessons to be learned by private investors in the wake of cyber security specialist Sophos being taken private by a US buyout firm; while the Americans may always buy our tech in the end, it’s no guarantee of profits.
Elsewhere, they also list 362 perfectly acceptable ways to avoid tax.
The Mail on Sunday goes quite big on Woodford, but also investigates the case of a reader who worked for a small partnership which went out of business years ago. The reader was in its pension scheme and also contributed to a linked Additional Voluntary Contribution plan.
Early this year, the reader contacted Aviva but was told the trust deed was lost. This is not the reader’s problem, but Aviva declines to let them access their own money.
There’s also a piece about the dark side of investment growth and how the ‘magic of compounding’ wears off unless fees are kept under tight control.
