22nd July 2013
1) Shinzo Abe wins the elections for the upper house of the Japanese parliament as the BBC reports. It doesn’t mean he can do absolutely everything he wants but it does mean some of the third arrow involving structural economic reform can be delivered including joining the trans-Pacific Partnership.
2) So much for Mr Mark Carney bringing even more QE and even new varieties of it to bear on the UK economy. Instead he and the MPC were unanimous in voting against it. The Telegraph canvassed the main analysts’ view. Some say it is a temporary pause while the MPC considers its strategy including its new ‘forward guidance approach, but there may be more QE to come eventually.
3) Trade website Investment Week finds that multi-managers are reducing their gold holdings amid concerns about a long term bear market. Last week Federal Reserve Chairman Ben Bernanke, when asked about the falling gold price said it might be because investors were less about a financial disaster but he added: “Nobody understands gold prices and I don’t really pretend to understand them either” as Financial Post reported.
4) Euan Munro, a senior figure at Standard Life Investments has left the firm for Aviva. This may not appear to mean too much. However as trade paper Money Marketing reports some brokers are asking for more information about future management of the Standard Life Global Absolute Returns Strategies fund because Munro was, they say, important in devising its strategy. A lot of people will have money in this best seller. We’ll keep you posted on the analysts’ opinions.
5) Capita Registrars says UK dividend payouts hit £25.3bn in the second quarter, though the target of for the year as a whole may be cut as the Telegraph reports. Still it brings some much-needed good news for income investors.