Equities

Firm lost £154.7m in the year to 31 July

Default would wipe out $15trn in household wealth

Disorderly default unlikely

US equity holdings have "doubled in size"

Numbers may have “thrown expectations for tapering into disarray”

Investors "spooked" by multiple crises

Potential hit for property sector

Seven million pension savers in pooled funds eligible for voting choice

Mainstream indices are a poor reference point for investors in China

China Education, an investment holding company for private higher education services, is affected by the increased regulatory risk premium the market is panicking about, but in our opinion, it is not directly impacted by the latest regulations.