Trevor Greetham

Great piece here from 'JB' Beckett, looking at how the lanscape has evolved for portfolio products within advisers' CIPs: https://lnkd.in/euUrRtTN Very timely from my selfish perspective, as exploring this in a forthcoming series of presentations (see graphic). The *really* interesting thing is the CGT cat 😼 that's recently been thrown among these pigeons through reduced CGT-free allowances (a cat that might become even more bloodthirsty in forthcoming budgets...) Unitisation, in some form or other, puts control back in the hands of the adviser and the client, whereas the 'classic' ununitised MPS model, in many cases, will likely end up triggering unexpected tax bills for clients holding it outside of a tax wrapper. This is one of the reasons why, when I set up Downing Fox, I went the fully unitised route. I just think it's cleaner and simpler. Anyway, this one's set to run and run. If you want to get up to speed on it, you could do a lot worse then reading JB's excellent potted history.

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After hitting new highs multiple times in the first half of 2024, what might the rest of the year and beyond have in store for global equity markets? Chris Wallis, CEO, CIO, and Senior Portfolio Manager at Vaughan Nelson Investment Management shares his global macro outlook, what areas are offering the most value, and risks investors should consider. Natixis Investment Managers. 🔗 Read the full article on Investment IQ: https://incm.pub/3XsBUk7 #investing #assetmanagement #wealthmanagement #finance

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Global commodity prices are in an upswing, and we think they have passed the trough for the cycle. Demand appears to be lifting and the supply-side is ‘super-squeezed’. So, what’s next? HSBC’s Paul Bloxham and Jamie Culling explore. To find out, read our free to view report here 👉 https://grp.hsbc/6048evV0O #HSBCResearch #Research #Commodities #ThoughtLeadership

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Excellent analysis that speaks to the need for regulators to shift their focus away from price and number of networks and instead look towards the value delivered to customers and economies from having robust and well invested networks capable of carrying and nurturing new services and products.

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10 new products launched in the UK last week from Meteor Asset Management, and Walker Crips. https://lnkd.in/emSc64Tg #StructuredProducts #Investment #Research #Analysis #StressTest #Valuations #Consultancy #B2B

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Have you seen it? Our Five-Year Performance Review 2024 is now available. The document provides a comprehensive overview of the performance of UK retail structured products that matured in 2023 and the preceding four years. Take a look https://bit.ly/3yqOLL6 #StructuredProducts #Investment #FinancialAdvisers #IFA

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The secular backdrop for the next five years invites advisers to reverse the typical 60/40 per cent equity and bond asset allocations in portfolios, according to PIMCO fixed income experts. https://lnkd.in/erbU6C74

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Waves of transformation are hitting the shore – bringing both opportunities and risks for investors in the second half of the year. Learn more in the BlackRock Investment Institute’s 2024 Midyear Global Outlook 👉 https://1blk.co/3YyQ7yr #marketingmaterial Capital at risk

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ECP Asset Management poaches Ecofin director in UK push. ECP Asset Management has appointed Ryan Rajkumar from Ecofin as principal of distribution. Check out Beth Brearley latest article👇 https://incm.pub/4etF0Me #investment #wealthmanagement #assetmanagement #finance

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MPS is an incredibly powerful tool. Platform tech allows a dispersed team with complementary skill sets to collaborate in managing the assets of underlying clients efficiently and effectively. It fosters specialisation and it delivers the benefit of scale to the end investor. But there are creaking sounds as the market continues its spectacular growth. These need to be heard and attended to, as highlighted by NextWealth. There are some exciting initiatives in this direction from a variety of players, which should benefit the whole value chain. Where does this take the MPS market once we're over the hump? Look out for continued growth, mass customisation and continued scale benefits, with MPS displacing traditional custody arrangements across the whole wealth management industry. Bring it on! FNZ Group, Criterion, Financial Simplicity, Mabel Insights,

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Have a quick listen to Dave and Nigam from BestEx providing a clear and concise case for why you may want to consider utilising order aggregation in your execution. https://lnkd.in/dP7_H-9z

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Equity and Fixed Income indices may initially seem to perform similar functions, but it is crucial to recognise their fundamental differences. In her latest piece, Samantha Lamb, Head of Fixed Income, explains that the choice of benchmark is not just a technical detail, but a foundational aspect of portfolio management that directly impacts investment outcomes. Therefore, the GIB Asset Management Sustainable World Corporate Bond team created a custom benchmark that is transparent, diversified, and aligned with investors' best interests. Read more about how this custom benchmark aims to set a high standard for performance and accountability in the Fixed Income space here: https://lnkd.in/e6uQj7hT We would like to thank Bloomberg for their helpful contributions to the piece. #FixedIncome #BenchmarkSelection #AssetManagement #CapitalAtRisk

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Yesterday's budget was an attempt to break the UK's fiscal dilemma to increase investment and break a cycle of low growth and high debt. We evaluate "Reeves' Keys" to break the fiscal dilemma in this report by our economics team Caspian Conran, Nick Forrest, and Maddy Binns. #UKEconomy #BudgetReaction #BudgetAnalysis

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A timely piece of work grounded in the reality of the challenges needed to make the shift to a low carbon economy in the UK, and on the dependencies different stakeholders have. Led by my colleagues', Nick Molho and Sophie English, this Roadmap is the culmination of over a year's worth of work and collaboration with investment, client, and policy teams across the business. The aim of the Roadmap is to put forward an investor and solutions-focused perspective on some of the key public policy priorities to boost low-carbon investment in the UK for the next five years. Read more in 'Boosting low-carbon investment in the UK: A Policy Roadmap' 📖 https://bit.ly/3LmTjFv #LowCarbon #UKEconomy #Policy

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I spoke to a junior PM this morning about the reaction function, risk and correlation. What might be important on paper is not in realty. Take UK Macro and The BOE. We have seen real weakness in GBP (eurgbp rallied 100 points) which makes sense because of the threat of higher taxes under Labour. UK Macro has been akin to a limp biscuit nobody wants. Soggy, stale and full of rogue elements to it. My conservations on UK Macro, Labour and The BOE 1. I got a Labour win right-royally-wrong on my GBP bear view. Time will tell but I do feel GBP could go a lot lower (not against USD as I'm a USD bear because of The TSY curve) So with that in mind take what i write with caveats. 2. ONS quality still questionable post the statistician watchdog citing concerns. They may have sorted a lot out but I just feel this is wide spread. I'm all ears on a counter to this. 2. The UK Macro virus reaction function on GBP has a very bad correlation. Rubbish. Why is that? Nobody cares. (By that i mean traders) 3. If you want to short GBP better to buy EURGBP dips 4. The mass HNW exodus continues as stealth tax increases. A few clients of mine are in Dubai. A natural haven for many. Have a cracking Monday!

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Schroders Americas CEO Phil Middleton to become head of UK as James Rainbow exits. Schroders Americas CEO Phil Middleton will return to London in 2025 to head the firm’s UK business after an extended stint in the US. Check out Cristian Angeloni's latest article 👇 https://incm.pub/3UDADX1 #investing #assetmanagement #wealthmanagement #finance

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