The Association of Investment Companies (AIC) held its annual Investment Company Showcase on Friday 11 October. Now in its third year, the free event, aimed at private investors, attracted 895 attendees. 

At the AGM, on 18th September, all resolutions were passed. These votes have now been verified and confirmed. 

The UK equity market keeps shrinking as Woodside Energy said that it would delist its shares from the London Stock Exchange on 20 November and retain its primary listing in Australia, where it is headquartered. 

(Times subscription required). 

Platforms report a big increase in ISA subscriptions, ahead of the coming budget. 

Will she, won't she? More speculation about potential CGT changes in the upcoming budget. 

Even Dan Neidle says reform stamp duty on shares... by abolishing it!! 

Reports warns that UK small cap stocks face an 'existential' threat. 

(Financial Times subscription required).  

The tide is turning for Investment Trusts; Fidelity relists RIT Capital, removing it from its blacklist as a result of new reporting rules that drop the ongoing costs on the KID document to zero. Immediately the shares see a bounce. Will this be repeated for other Investment Trusts as they redo their cost reporting? 

ShareSoc applauds a crackdown by the FCA on misleading financial promotions from "finfluencers". 

FCA CEO Nikhil Rathi says "FCA “clearly has more to do” to show that the regulator is helping to facilitate growth". 
 
Does he understand that the FCA's primary role is to protect users of financial services, not to support the financial services industry? In more promising comments, he also claims that the FCA is speeding up enforcement actions and has undertaken record numbers of prosecutions. ShareSoc applauds these moves. 

Jeff Prestridge highlights what makes a good fund manager (in his view) and several red flags, e.g. when "a manager suddenly attempts to reinvent themselves. In Woodford's case, he [Neil Woodford] thought his skill at generating returns from buying unloved UK stocks would translate across to identifying unlisted start-up businesses that would go onto greatness. It didn't. Investing in unquoteds is a different investment ball game." 

Goldman Sachs economists predict that the Bank of England will implement sharper interest rate cuts than the market anticipates, which currently suggests a drop to 3.5%. They predict a quarter-point cut at each of the 9 Monetary Policy Committee meetings from Nov 2024 to Nov 2025. 

Too sweet to resist? Tate & Lyle could become the next UK company to fall to an overseas takeover offer, after reports that the US private equity firm Advent International is preparing a bid for the group. 

Fitch Ratings announced that the European Central Bank (ECB) will accelerate its interest rate cuts, reducing rates faster than previously anticipated, but not exceeding a total of 200 basis points by the end of 2025. 

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