ShareSoc - UK Individual Shareholders Society


ShareSoc Weekly Newsletter
Hello ,

Please see below for this week's news from ShareSoc and a selection of interesting items from the rest of the financial media.
 
ShareSoc News
 
A ShareSoc member writes about their unsatisfactory experience of Hargreaves Lansdown processing a SIPP drawdown request

If you experience similar delays, which cause you difficulties, ShareSoc recommends that you lodge a formal complaint with HL, as described here. Should you not receive a satisfactory response you can then escalate the matter to the Financial Ombudsman Service, who will support you.

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Financial News
 
It’s nearly the end for the former Woodford Patient

Those lofty ambitions of yore are about to be no more. (Yes, I really did make that up on the spot). The final Woodford Zombie fund looks like it's now heading for the exit.

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Southey Capital offers unhappy Home Reit investors a £32m exit

Cut price exit route for HOME REIT investors trapped by 2 years of suspension. An option, but is it actually a good one? The offer comes from a distressed situations investor who might make a multiple of X return.

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Investment trusts special 2024

FT publishes its Investment Trusts Special. Worth a read whatever your approach to investing. It’s had some great reviews on social media.
(Financial Times subscription required).

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Signs of insider dealing detected in a third of UK takeover bids

A very worrying report that insider dealing could be taking place before as many as one in three takeover bids in the UK, regulators have indicated, but the trend is downwards. So what exactly are the regulators doing about it and who has been caught breaking the rules?
(Times subscription required).

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FCA warns against ‘race to the bottom’ in pro-growth role

The Financial Conduct Authority has warned MPs that a push for the regulator to encourage growth must not encourage a ‘race to the bottom’ and that parliament must be prepared to stand by the revised remit when ‘more things go wrong’.

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UK PMI: private sector economy grew only marginally in November

Revisions to a closely watched survey suggest that the UK private sector economy expanded marginally last month but experts warned that activity is ‘close to stalling’.
(Times subscription required).

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Analysts 'unimpressed' as Learning Technologies agrees £802m takeover

Another delisting. AIM-listed Learning Technologies has finally agreed to an £802m takeover by US private equity firm General Atlantic after a long-running pursuit.

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Activist urges Rio Tinto to axe primary London listing

And yet more pressure on Management to reconsider London Listings. Palliser Capital, an activist investor, has intensified calls for Rio Tinto to abandon its primary listing in London, claiming that the company’s dual share structure has been ‘an unmitigated failure’ for shareholders. Potentially some truth in the claims when you look at Rio's odd structure.
(Times subscription required).

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‘Board meetings were taken over by regulatory and diversity issues’

Lord Spencer of Alresford, founder of ICAP robustly criticises successive governments in a diatribe in the Times... “If you really want to help the London Stock Market and you don’t abolish stamp duty you are basically bullshitting. So you’ve created an environment where the London market will be less liquid than other comparable markets.”

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Cash hoarders take total UK savings to £2 trillion – why aren’t we investing?

The UK has become a nation of cash hoarders. Why, asks MoneyWeek, when they could be earning real returns by investing more of it.

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London Stock Exchange boss: We must make people proud to own shares

Profile Of Dame Julia Hoggett, chief executive of the London Stock Exchange and "her mission to save the LSE". With the LSE putting a lot of recent marketing focus on private investors (the lifeblood of any stock exchange) ShareSoc will be redoubling its efforts to drive LSE actions that solve existing investor issues and improve our experience.

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Whistleblower's rights under watered down FCA's name and shame plans

FCA caves to City lobbying and waters down proposals on enforcement transparency. A second round of consultations on the revised proposals is launched. ShareSoc will respond.

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Mike Ashley has the right critique of Boohoo. But he doesn’t belong on its board

A bit of governance opinionating from the Guardian who say Mike Ashley has the right critique of Boohoo. But he doesn’t belong on its board.

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Bank of England warns that hedge funds bring ‘vulnerabilities’ to gilt market

Hedge funds are using leverage to build larger positions in government debt, creating potential new risks in the financial system, the Bank of England has warned.
(Financial Times subscription required).

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Vanguard to accelerate wealth management drive in restructuring

Vanguard is carving out its $900bn wealth and advice business into a separate unit to speed investment.
(Financial Times subscription required).

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Canal+ to list in London after Vivendi break-up

Finally, a major London IPO. French media company, Canal+. It ran a red light in Paris to cross the Channel and get here, but it’s now going ahead.

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UK beats US at creating ‘multi-bagger’ stocks

You might be surprised to know that your chances of selecting a multibagger stock are greater in the UK than in the US, according to a Schroders fund manager!

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FTSE group Ashtead to shift primary listing to New York in blow to UK

Ashtead Group, the £27bn construction rental company, plans to shift its primary listing to New York in the latest blow to the London stock market.

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Investors pour $140bn into US stock funds after Trump election victory

Investors have pumped nearly $140bn into US equity funds since last month’s presidential election as traders bet on tax cuts and reforms after Donald Trump’s win.

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Bitcoin has hit $100,000 – but beware the madness of crowds

Those who feel they have missed the bandwagon on Bitcoin’s rise should beware the madness of crowds. Or as Gwyneth Paltrow might have put it "unconscious FOMO".

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Trump administration forces crypto acceptance question into mainstream debate for finance industry

Cryptocurrencies forced into the conversation, following supportive Trump nominations but the financial services industry and commentators remain divided.

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US unemployment rise paves way for Fed rate cut

Unemployment in the US rose unexpectedly to 4.2% last month, which paves the way for the Federal Reserve to cut interest rates before Christmas.

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‘Merger Monday’ spree signals revival of deals since Trump victory

US companies forged more than $35bn in deals yesterday, marking the clearest surge in dealmaking confidence since Donald Trump’s election victory.
(Financial Times subscription required).

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China probe wipes $123bn off US tech giant as Xi braces for Trump tariffs

China has launched a competition investigation into Nvidia as global trade tensions mount ahead of Donald Trump’s return to the White House; nearly $123bn was wiped off the value of the chipmaker after the news.
(Telegraph subscription required).

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China's Cutting Loose, Unveiling A Dramatic New Policy Change

A short but to the point blog on major economic policy changes in China as the government adds fiscal stimulus to it's monetary loosening moves in an attempt to get the economy growing again through consumer spending. With Trump tariffs on the horizon domestic demand may be an absolute necessity for China in future years.

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Winter recession fears for Germany

Germany was dealt a fresh blow yesterday as industrial production shrank in October, fuelling fears of a winter recession in Europe's biggest economy.

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