ShareSoc - UK Individual Shareholders Society


ShareSoc Weekly Newsletter
Hello ,

Welcome to the final Weekly Newsletter of 2024, please see below for this week's news from ShareSoc and a selection of interesting items from the rest of the financial media.  We'll be back with your first Newsletter of 2025 on Friday 10th January.  

Don't forget, you can comment on all newsletter articles and share your insights with other members via our Weekly Newsletter Forum.
 
ShareSoc News
 
Should ShareSoc become a Charity? We need your advice/help if you have relevant charity experience

Have you ever been involved in running or setting up a charity? We are reviewing ShareSoc’s status and we believe some of our members might have valuable insights. If you have relevant experience, we would love to pick your brains on the key decisions and process. Please contact info@sharesoc.org if you can help.

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SIGnet Launches New US Small Cap Group

SIGnet is excited to announce the launch of a new online group for those who are interested in investing in US small caps. Investors of all levels of experience are welcome to join.

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RGL Woodford Group Litigation Claim vs Hargreaves could reach £1 billion

The RGL Woodford Group Litigation against Hargreaves Lansdown so far comprises some 7,000 claimants with more being added every day. RGL has informed us that the average claimant had approximately £20,000 invested and that the average claim value (including the opportunity loss) is also in the region of £20,000.

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Financial News
 
Exclusive Neil Woodford interview: who he blames for his fund’s collapse

1st interview with Neil Woodford. He blames Link Financial Services (as the ACD, Link was in charge of some aspects) for suspending the fund without warning anyone (including himself), and then unnecessarily liquidating the WEIF fund asap. Both probably true, but Link is technically no more, so can't/won't rebut, and the FCA cases investigating him/Woodford Investment Management are coming slowly towards fruition (we hope). What he doesn't answer is why he went wildly off his stated Income mandate into high risk VC territory, investing in firms outside his scope that often ended up being worthless in the end.

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How St James’s Place is changing its opulent image

Trying to change perceptions of being high spend and high cost, St. James’s Place starts ditching the luxury all-expense paid jollies for its advisors. As they try to cut costs maybe they actually intend to change their ways. They still haven't removed the huge exit fee though.

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Is Vanguard still a cheap deal for investors after fee shake-up?

The passives low-cost favourite, Vanguard, shakes up its fee structure, implementing a minimum fee for those with a portfolio up to £32,000. Is it still the cheapest option? Maybe not for smaller investors or those starting out.
(Times subscription required).

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Let’s put financial literacy on the breakfast menu

The FT's Claer Barrett promotes the FT Financial Literacy and Inclusion Campaign's (FLIC) current Magic Breakfast campaign. Offering teens not only free breakfasts but free financial education, including investment simulations. A worthy cause.

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Shein's £50bn London float held up by anti-slavery commissioner and Uyghur campaign group

Shein’s £50bn stock market listing has been held up after the Government’s anti-slavery commissioner and an Uyghur campaign group challenged the plan.

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London Stock Exchange suffers biggest exodus since financial crisis

The FT does another gloomy number on the London Markets pointing out that 88 companies have left the main market this year and only 18 have joined it.
(Financial Times subscription required)

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More than half of UK company bosses consider relisting overseas

More than half of British public limited companies have had discussions at board level about moving their listing overseas in the past 12 months, according to a City survey which illustrates the growing pressure on the UK’s capital markets.
(Times subscription required).

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We can’t afford to allow our pension funds to shun UK assets any longer

An excellent article, covering the reality of the decline of the UK equity markets, what caused it (government tax policy usually) and why it might lead to the collapse of the Corporate tax base when some/all big companies have left the building... I.e. the government needs to take real action and quickly. Some of the suggestions include: abolishing 0.5% transaction tax, reinstating franked dividends for pension funds (a la Australia/Canada), loosening listing rules even more, modifying ISA’s to require a minimum % in UK equities, and mandating UK listed equity investments in pension portfolios, etc. etc. Something, anything would probably be good, so long as it's done quickly.
(Times Subscription required)

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Plan to allow private companies to trade shares on new exchange

The owners of private companies will be able to sell shares to institutions and other types of PROFESSIONAL investors through a new trading system that is part of a range of measures aimed at reviving the competitiveness of the London market. Private investors should beware, it's higher risk than for quoted stocks.
(Times subscription required).

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Britvic’s £3.3bn takeover by Carlsberg gets go-ahead, raising fears of job losses

The £3.3bn takeover of the UK soft drinks maker Britvic by the Danish brewer Carlsberg has received the go-ahead from Britain’s competition watchdog, raising fears of job losses.

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UK wage growth accelerates to 5.2%

A pick-up in wage growth has quashed the prospect of a cut in interest rates this week from the Bank of England.
(Financial Times subscription required).

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Tullow Oil shares sink as US rival Kosmos Energy abandons takeover

Tullow Oil shares plunged on Tuesday after Kosmos Energy abandoned the takeover pursuit of its London-listed rival. That's one less delisting, for the moment at least.

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Global ETF assets soar to $15tn as shift from mutual funds gathers pace

Assets in global exchange traded funds have soared to $15tn, powered by a stampede from mutual funds. The pendulum swings to passive investing. The question is, if too much of all investing goes passive, what happens to market functioning?
(Financial Times subscription required)

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ECB boss Christine Lagarde cuts interest rates for the fourth time this year as EU flounders

The European Central Bank (ECB) cut interest rates for the fourth time this year as the continent’s floundering economy faces political strife and possible US tariffs.

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Wall Street bets Trump will fuel further dollar gains

US investors are betting that the dollar will continue the storming rally that has seen it rise 6.2% since October.

(Financial Times subscription required)

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