IFAonline gives its breakdown of five things your clients may have read in the nationals. This week: Absolute return funds come under the microscope, there's mixed news on the High Street, and one paper tips wine as a possible money-spinner for consumers this year...
Half of absolute return funds fail to turn a profit The Telegraph is damning in its analysis of the absolute return fund sector. Over half of the 65 funds lost money in 2011, with only eight making returns above inflation, it said. BlackRock's popular £1.3bn UK Absolute Alpha fund was one of the worst performers, losing 7% of its value in the past 12 months. Lloyds to face US lawsuit over HBOS rescue Any clients banking with Lloyds (in fact any taxpayer) may be interested in news the banking giant faces a potentially costly class action lawsuit in New York. Former chairman Sir Victor...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
