 The long-awaited FCA thematic review of retirement income advice has finally been published, and Dear CEO letters sent. What are the key findings and what should adviser firms be putting in place to improve their proposition?
Read the full article on FT Adviser  Mainstream platforms have been slow to adopt fractional trading. This has hampered the adoption of ETFs within MPS. With many more index funds available, it's become less of an issue, according to Henry Cobbe, Head of Research at Elston Consulting.
Read the full article in ETF Stream  Whether using bond funds or investing directly, bond investing requires thinking about the outlook for interest rates, inflation expectation, credit spreads and currency direction (if applicable) and how those variables impact bond valuations.
Read the article in FT Adviser  We were delighted that Elston Portfolio Management won 7 out of 12 (and shortlisted in a further 3) in the Best DFM awards in the Citywire Adviser Choice Awards 2024. Thank you to all the Advisers who voted.
Read the full article and pictures here  For investors wanting a differentiated approach to implementing a global equity exposure, what are the options?
Read the full article in FT Adviser Find out more about the Elston Smart-Beta UK Dividend Index (ticker: ELSUKI)
For latest UK Equity Income index factsheet click here UK Equity Income: monthly index commentary for February 2024 by Rob Davies, UK Equity Income Index Specialist at Elston Consulting Optimism returned to capital markets in February, mainly fueled by good results from US tech stocks. The UK reporting season also peaked last month but here the news was mixed and left the domestic market trailing its American counterpart. The appetite for tech and growth stocks returned and left UK stocks trailing partly because of their bias to value. Consequently smaller companies, where expectations of growth drive sentiment, had a better month than the middle and larger sized companies. Expectations of changes to interest rates were volatile and early hopes of cuts were trimmed back as the month progressed. Perceptions that inflation is stickier in the UK than the US led participants to believe that rate cuts in the UK will be later than in the US and contributed towards a slight strengthening of sterling against the dollar. That too had a modest negative impact on larger UK stocks with their tilt towards overseas earnings. When translated back into the home currency those profits buy slightly fewer pounds. An additional blow to the UK market, where several large mining companies are listed, was concern about the prospects for China. It is now the largest market for many important commodities and weakness in demand there was reflected in lower prices for some. This was undoubtedly a factor in the negative return of the Material sector in the UK stock market. This was the second worst after Real Estate where the impact of Covid on changing work patterns is still being digested. Other sectors with negative returns were Utilities, Consumer Services and Communication Services. However, on a positive note, and suggestive of some optimism in the domestic economy, was a strong return from the Industrial Sector closely followed by Information Technology. Energy and Financials also made encouraging progress over the month. ETF Stream interviews up-and-coming fund selectors about breaking into the industry, how experiences have shaped their investment approach and their biggest influences in investing and beyond.
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