News & Updates

March 16, 2019

What are we to do about Neil Woodford’s shockingly bad performance? One answer, and possibly the only important one: don't put yourself in this position again. Opt out of active management altogether and go passive.  

Many investment ‘stars’ over the years have disappoi...

January 18, 2019

The Work and Pensions Select Committee has called for written submissions to its enquiry into the merit of a ban on 'contingent charges' in the case of transfers from DB pension schemes to personal pensions. Our distinctive approach to fees generally has been driven by...

January 18, 2019

Our response to the DWP consultation on CDC focuses on a level-playing field for risk disclosure. We ask for fair and not misleading communication of the risks, preventing any use of 'money illusion' to hide the risks that DB pension plan sponsors and financial adviser...

December 17, 2018

Private equity is one of the investment opportunities Fowler Drew clients choose to pass up when they retain us. New research points to why this is sensible. 

New research; but not a new idea. The theory that private equity merely exposes investors to systematic ri...

November 30, 2018

Personal chemistry is what's holding the advice industry together, reading between the lines of a recent FT survey of readers about their relationship (or not) with financial advisers and wealth managers. This is remarkable in today's technology-dependent world and in...

November 20, 2018

This is my rather crude attempt at a Brexit route map, for the purpose of a bit of game theory. Brexit is no game but to a detached observer it presents a fascinating problem.  To anyone with a particular objective, or skin in the game, game theory is an important part...

September 2, 2018

This unfamiliar but telling exhibit measures the extent to which the QE-induced REAL equity risk premium has shrunk but is still much more generous than 'normal' (explanation below). This measure of the equity risk premium, measured against Index Linked Gilts, is the r...

August 16, 2018

The Government's Pension Dashboard project is suspected of sloping off towards the long grass. The earliest date had already been pushed out to 2019. We aim to beat that with an interactive dashboard for prospects (as a test drive) and clients by Christmas 2018. 

W...

August 6, 2018

There appears to be a striking difference between UK share prices and the public statements that company CEOs are making. Public statements are much closer to the worst-case economic predictions associated with the Treasury and Remain supporters seeking to influence th...

August 1, 2018

'Engagement' is no solution to the savings criris? Really? Are savings then totally unlike any other consumption good that sells itself on expected satisfaction or gratification? Aren't savings just satisfaction with a bit of time shift?

Well, it was...

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