ShareSoc Congratulates AJ Bell on Improving Enfranchisement of Investors.

ShareSoc Policy Committee member Cliff Weight shares his views on New Financial’s report launch.

Supermarket Income Reit to save investors £1.4m a year with fee change as it ties management fees to market capitalisation rather than Net Asset Value. This leads the way for investment trusts and is in stark contrast to the DGI9 historical approach where an inflated NAV seems to have been used to extract excessive fees.

Bloomberg's headline view of the effects of the budget in the economy are  higher debt, a bigger state, lower growth and higher inflation, with probably more tax rises in future years as there is limited investment beyond the next 2 years.

In October, UK investors withdrew a record £2.7 billion from equities, according to data from funds processor Calastone. This marked the highest monthly outflow ever recorded, primarily from UK-focused assets. Sell orders surged by 36% to £17 billion in the month leading up to the Budget, driven by concerns over a potential increase in capital gains tax.

Impact of the budget's inheritance tax (IHT) changes on pensions and estate planning.

For individuals, the inclusion of pension pots into Inheritance Tax from 2027 created a raft of questions and uncertainties, points out this Citywire article, as the Treasury Consultation has only just launched. Constantly changing pension rules makes it incredibly challenging to plan effectively. The change includes Defined Benefit (DB) as well as Defined Contribution (DC) pensions, but not every type! And until the consultation completes and the rules are finalised there can be no certainty!

Budget Inheritance Tax  changes may create an administrative nightmare.

Many people are having to rethink their retirement planning now that pensions have been included in the estate of a deceased person and are subject to IHT. It just became a whole lot harder to pass wealth between generations.

ISA allowances frozen until 2030 and BritISA is officially dead.

Gilt rates peaked higher than after the Liz Truss budget and the pound fell sharply after markets reacted badly to the budget.

AIM may not have lost its complete IHT exemption for certain stocks, as they now get half-IHT taxed at death, but that doesn't mean AIM is set for success argues this journalist for the Times.

(Times subscription required).

For those of you thinking about switching brokers, Monevator have just updated their useful comparison tables. 

The FCA puts SIPP operators on notice to ensure they're delivering for their clients and protecting client assets.

Buy the S&P 500 Index. Hold it. Forget it. That’s one approach. An, admittedly self-interested, active manager takes the other side. Aided by over 100 years of data, MAN Group takes a closer look at the arguments. Food for thought but recommended only for data junkies!

Bloomberg reports that one third of the UK's inflation "shopping basket" is in deflation.
This suggests that the Bank of England may have more reason to lower interest rates, which could boost UK shares and economic growth.

(Bloomberg UK subscription required).

Inflation rose to 2% in the eurozone, with higher economic growth and record low unemployment reducing the chances of an outsized cut in interest rates before the end of the year.

(Times subscription required).

A closely watched measure of US inflation has slipped to 2.1%, its lowest level since 2021 and within striking distance of the Federal Reserve’s target.

Bank of America strategists predict a potential "relief rally" for the S&P 500 in early November, based on the index's strong historical performance during presidential election years. They noted that the S&P 500 typically sees an average return of 1.06% and a median return of 1.36% in the first 10 days of November during these years.

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