M&G’s flagship bond fund faces £100m daily outflows March 30, 2020 M&G’s flagship bond has become the latest casualty of the coronavirus-induced market sell-off, as investors pull £100m a day from the fund. Investors have pulled £2.5bn from M&G Optimal Income since mid-February, according to the Financial Times, as the coronavirus outbreak pushed investors towards the safety of cash. M&G, which is run by Richard Woolnough, [...]
Coronavirus dividend cuts produce £4.4bn hit to investor portfolios March 27, 2020 With more UK firms announcing coronavirus-fuelled dividend cuts this week, the total loss of investor income so far this year is now £4.4bn. The pace of dividend cuts is accelerating as coronavirus wreaks havoc on world economies. In March 116 companies have suspended their dividends totalling £4.2bn, according to investment fund AJ Bell. That compares [...]
Investors flee UK funds for cash with bond funds the worst hit March 26, 2020 Record amounts have flowed out of UK funds this month with bond funds hit the hardest as investors flocked towards cash. As the coronavirus crisis deepens and fears of a recession mount, UK funds have shed £4.4bn in the month to date, according to figures from global funds network Calastone. This week there was a [...]
Goodwill hunting: accountants in the spotlight March 26, 2020 | City Talk Goodwill in accounting – an intangible asset that is recorded when a buyer acquires a business – has risen up the political agenda on both sides of the Atlantic. In the UK we have seen pressure applied to the London-headquartered International Accounting Standards Board (IASB) in the wake of high-profile failures such as Carillion, the [...]
Cash-poor UK firms lobby for looser rules on stock offerings March 25, 2020 Advisers to cash-strapped British firms are lobbying regulators to loosen rules governing new stock offerings, in the hope it could make it easier for struggling companies to raise funds. An industry body representing investment banks is asking the Financial Conduct Authority (FCA) to increase the maximum allowed discount for equity sales on the London Stock [...]
How coronavirus is turning the spotlight on sustainable investing March 25, 2020 | City Talk It is difficult to start any article without referring to the threat presented by the coronavirus sweeping across countries. The human impacts are clearly devastating for anyone affected, even if the overall impact is at present relatively small in the context of major pandemics through history. The economic and financial impacts are also proving significant. [...]
Softbank hits back at Moody’s following double downgrade March 25, 2020 Softbank has demanded that Moody’s remove all of its bond ratings after the ratings agency downgraded the conglomerate’s debt by two notches and said it was reviewing the tech investment giant for a further downgrade. Softbank immediately hit back, accusing Moody’s of having based its decision on “its biased and mistaken views” and “excessively pessimistic [...]
London Stock Exchange to allow dividend delay over coronavirus disruption March 25, 2020 The London Stock Exchange is to allow companies listed on its market to delay the payment of dividends by up to 30 days as markets grapple with the impact of coronavirus. “As a result of market conditions and issuers implementing their contingency plans, the Exchange has received enquiries from issuers and their advisers regarding deferral [...]
IFISAs: Invest in British entrepreneurs and maximise your tax-free ISA March 25, 2020 | Sponsored Innovative Finance ISAs offer an exciting alternative investment channel, helping you diversify your portfolio and maximising your £20,000 tax-free ISA allowance — all while supporting high performing British entrepreneurs. Finding the right businesses for your portfolio without skimping on the details you need to make an informed investment decision has always been a challenge. Crowd2Fund [...]
CMC’s shares jump as it raises forecast again after trading volume surge March 20, 2020 Trading platform CMC Markets surged in early trading as it boosted its annual earnings target for the fourth time in less than six months. CMC expects net operating income ahead of market consensus at £219m, and profit before tac of £72.9m. Shares jumped 16.11 per cent to 156.75 on the FTSE small-cap index. CMC said: [...]