Trust reduces equity and sterling exposure
Our new Theresa May-led Conservative government seems to be engaged in a classic example of kitchen sink revisionism, steadily ditching a whole series of commitments made by its predecessor.
The FCA's latest review is on so-called Retirement Outcomes, which is designed to see how the retirement income market is developing on the back of pension freedoms.
Now the immediate fallout from the Brexit vote is behind us, the investment industry is beginning to think about the longer-term impact of the UK's decision to leave the EU.
So much for the old adage that investors should 'sell in May and go away'. Markets seem to be in an almost euphoric mood, having survived a near brush with death over Brexit.
The casual observer will have noted a pick-up in the already elevated level of 'noise' in the City pages. Cyclical or value companies, including builders for example, are sensitive to levels of economic activity in the economy which, post-Brexit, is harder...