Having correctly predicted a banking crisis on the scale of Lehman Brothers, Jon Moulton's (Chairman, Better Capital Fund) foresight on the industry's long road to recovery is fully justified in being heard. This is what he said in February 2008.
“The industry should prepare for bad news. There will be large scale failures, that's guaranteed.... It is vital that the industry and its representative bodies are ready."
And this is what Mr Moulton told over 450 fund industry specialists when asked this month whether he believed the industry had regained its credibility. “Yes, it has regained some of its credibility. The alternatives industry is mostly on the way uphill not downhill at the moment, driven by very low interest rates, higher inflation, people seeking better returns. And alternatives do contain at least the hope, and many of us believe the reality, of generating better returns than standard products. You have to work to get those returns - they're harder to get at than just buying the market." www.bettercapital.gg
Joined with 21 Partners
Adds £130m assets under influence
Nexus IFA among first to sign up
What made financial headlines over the weekend?
Pensions neglect to be criminal offence