For the seriously rich: a relationship with the bank
Article Abstract:
UK high street banks are beginning to join the private banks, such as Coutts and Co. in serving very wealthy private customers. According to a Datamonitor report, the wealthy are becoming wealthier and more numerous. At the end of 1994, 1.6 million people in the UK had liquid assets of over 250,000 pounds sterling, and shared total assets of almost 200 billion pounds sterling. This is attributed to the economic policies of Margaret Thatcher in the 1980s and an ageing population. Barclays has opened a private banking division, though Lloyds has had a division since 1989.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1996
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What's inside the tax-free wrapper?
Article Abstract:
A PEP investor must decide between a unit trust, which is open ended, and an investment trust, which is closed ended. With an investment trust, the value of the whole fund will change according to market developments, while with a unit trust, units are issued to buyers, rather than shares. The price of units is adjusted daily in line with the net asset value of the underlying portfolio. Most investors choose unit trusts, as these tend to be extensively promoted by unit trust managers.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1996
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Funds as good as gold
Article Abstract:
Western investors have traditionally not regarded gold seriously as an asset class, even though it is guaranteed to hold its value against inflation. However, it is worth considering gold funds, which are invested in gold mining stocks. The Mercury Asset Management Gold and General Fund has been the most strongly performing unit trust over the past three and five years, and is one of two gold funds in the top 30 unit trusts.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1996
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