The budget of March 1998 came as something of a shock to the financial industry. The introduction of...
The budget of March 1998 came as something of a shock to the financial industry. The introduction of Isas and their implications for Peps, life assurance and Tessas were unsettling enough, but at the same time, sweeping changes to capital gains tax (CGT) regulations had product providers, financial advisers and investors debating the implications for weeks. The relative advantages of one approach to portfolio management over another formed the basis of many of the more involved discussions. The debate turned out to be somewhat inconclusive; the relative benefits of funds of funds over por...
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