News & updates
News & Updates
FT: pension transfer ‘stampede’
The FT's parting gift to readers in 2016 is a strong hint in two articles in today's paper to take advantage of high cash transfer values from UK DB schemes - following the example of its own Martin Wolff and even former pension minister Baroness Altman - while stocks...
Why is the FCA demonising active managers?
Active management at the security level is a waste of money and detracts from the decisions that aren't. That's the damning message in the FCA's interim report on asset managers that the media seized on. But who really should be demonised in that case? End-consumers...
An existential view of equities
Two recent letters in the FT demonstrate how irreconcilable are the two views of the equity return process, as between a random walk with some drift that happens in the past to have been upwards and mean reversion with a meaningful trend that is the product of an...
Can you afford not to transfer gold-plated pensions?
In Adviser Insight in Citywire's New Model Adviser (26th October) Stuart Fowler tells advisers 'if you advise clients who have deferred defined benefit (DB) pension entitlements, it is arguably negligent not to review the decision to retain the DB pension'. This...
Fowler Drew differs from typical investment firms who seek ‘alpha’ for alpha’s sake, instead harvesting low-cost ‘beta’, building towards target outcomes that clients get to define. Their assumptions about how markets behave seem sensible and plausible to this non-expert client. The focus on outcomes helps us to understand what we are doing and why. It’s self-contained, neat and tidy and very suitable for busy lives.