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Micro Focus Takes On HPE Software

The big deal last week (announced on 7/9/2016) was undoubtedly the acquisition by Micro Focus International (MCRO) of the software business of Hewlett Packard Enterprise (HPE). This is a deal valued at US$8.8 billion which will result in HPE shareholders owning 50.1% of the company and hence it is a reverse takeover. But the on-going business will be managed by Kevin Loosemore as Executive Chairman of Micro Focus and it will of course be registered and listed in the UK. It ...

Restoring Responsible Share Ownership

Report on House of Commons event – Restoring responsible ownership: ending the ownerless Corporation and controlling executive pay on Monday 5th September 2016 Submitted by Cliff Weight Over 100...

Restoring Responsible Ownership

"Restoring Responsible Ownership" is the title of a paper published today by Chris Philp, M.P., on the topic of "Ending the Ownerless Corporation and Controlling Executive Pay". Many people, including ShareSoc, have pointed out the problems in the current governance of public companies. Professor John Kay covered many of the issues in his admirable review of how the stock market operates in his Kay Review a few years ago. One of the symptoms has been rapidly rising director pay as institutions ...

Wealth Manager’s Charges Still High

There were a couple of interesting articles in the FT over the weekend (27/8/2016) on the costs to investors of having someone else manage your portfolio. Data from Grant Thornton suggests that investors who buy investment advice and financial products from mass market investment groups are still paying 2.56% per annum on average. This is only down from 2.86% in 2012 when the Retail Distribution Review (RDR) which unbundled product commissions was expected to reduce them substantially. Indeed product costs may have ...

Youinvest Charges Postscript

I previously commented, both on this blog and in the ShareSoc Informer Newsletter, on the revised charges that Youinvest announced on the 9th August. The impact on SIPP investors with largish portfolios of direct investments (shares or investment trusts) seemed to be minimal. But the increase in custody charges on funds caused more than one ShareSoc member to complain. The introduction of a custody charge on holding shares, investment trusts, ETFs, gilts and bonds in SIPPs, ISAs and Direct Dealing accounts may ...