Issue 51 / May 2019
FE Trustnet
A
BONE
TO
PICK
magazine
Your
nts
complai
answered
GUILTY AS CHARGED?
Can the industry be trusted
to bring down fees?
LOSING IT
Every way to fall foul of
investing
ON DEAF EARS
The advice that investors
continually ignore
Fund, Pension, Trust / Sector Profile / Stockpicker / What I Bought Last
ISSUE 51
CREDITS
FE TRUSTNET MAGAZINE IS
PUBLISHED BY THE TEAM
BEHIND FE TRUSTNET IN
SOHO, LONDON
WEBSITE: www.trustnet.com
EMAIL: editorial@financialex-
press.net
Editor’s letter
I
t is rare we publish
a story on FE
Trustnet that
doesn’t attract the ire
of at least one user in
the comments section,
but what is rarer still
is their comment
receives a satisfactory
response. To counter
this, we asked our
readers to send us
a list of complaints,
which we put to a
panel of industry
representatives. See this
month’s cover story for
their responses.
One theme dominated
this list – charges.
With fees remaining
high, Daniel Lanyon
investigates whether
the industry should
be trusted to offer
value for money. It is
Anthony Luzio
Editor
T: 0207 534 7652
28
Javier Otero
Art direction & design
W: www.feedingcrows.co.uk
Editorial
Gary Jackson
Editor (FE Trustnet)
T: 0207 534 7680
Rob Langston
News editor
T: 0207 534 7696
Sales
Richard Fletcher
Head of publishing sales
T: 0207 534 7662
Richard Casemore
Account manager
T: 0207 534 7669
Constance Candler
Account manager
T: 0207 534 7668
Photos supplied by iStock
Cover illustration: Javier Otero
Morgan’s Timothy
Woodhouse names
three stocks that should
benefit from the next
phase of Asia’s growth
and MitonOptimal’s
James Sullivan reveals
which fund he is using
to play one of the most
misunderstood and
attractive sectors.
Finally, we hear the
views of someone with plenty to complain
about, as John Blowers
discusses the many ways
that he and people he
knows have lost money
through investing.
Enjoy reading,
Fund, pension, trust Financial times nor understanding” what is
currently one of the most
attractive sectors – financials
Anthony Luzio
Editor
Contents
CONTACTS:
Amanda Williams
Head of FE Trustnet
T: 0207 534 7650
not just retail investors
who have something to
complain about, though,
with Hannah Smith
asking the experts which
lessons continually fall
on deaf ears.
In our regular columns,
Adam Lewis asks if IA
Volatility Managed’s
“outcome-driven”
approach gives it
too much leeway, JP
A bone to pick
A panel of industry
representatives respond to our
readers’ complaints about the
world of asset management
P. 4-13
Monks – global
growth from different
perspectives
The co-managers of Monks
Investment Trust tell James
Budden about the four
categories of stocks they use
to build their portfolio
P. 14-19
On deaf ears
A selection of financial experts
tell Hannah Smith which
investment lessons always seem
to fall on deaf ears – no matter
how often they repeat them
P. 20-23
A year of two halves?
The Bankers Investment Trust’s
Alex Crooke explains how
the team is preparing for a
different investment landscape
in the second half of 2019
P. 24-27
Guilty as charged?
Fees have remained high for
too long, so why should the
industry be trusted to bring
them down? Daniel Lanyon
investigates
P. 28-35
Fidelity Special Situations, JPM
Emerging Markets Income and
AVI Japan Opportunity Trust
find themselves under the
spotlight this month
P. 36-41
Stage managed
Adam Lewis asks if IA Volatility
Managed’s “outcome-driven”
approach leaves it a little too
much leeway when it comes
to meeting its objectives
P. 42-47
JPMorgan Global Growth &
Income’s Timothy Woodhouse
names three stocks that
should benefit from the next
phase of Asia’s development
– the growth of financial
services
P. 58-59
What I bought last
MitonOptimal’s James Sullivan
says one of the biggest risks
for investors is “neither owning
50
Data hub
Industry complaints in
numbers
P. 48-49
Losing it
AltRetire’s John Blowers looks
back at his own experiences
of losing money through
investing so you can avoid
making the same mistakes
P. 50-57
P. 60-61
20