EDITOR’S LETTER
14
Issue 34 / November 2017
Why th
industry e
missed a has
with draw trick
down
THE ADVICE AGE COMETH
The Pensions Advice Allowance explained
TAKING BACK CONTROL
Managing your retirement income
ON THE RIGHT TRACK?
Can you rely on passives in your pension?
ISSUE 34
CREDITS
TRUSTNET MAGAZINE (FORMERLY
INVESTAZINE) IS PUBLISHED BY
THE TEAM BEHIND FE TRUSTNET IN
SOHO, LONDON.
WEBSITE: WWW.TRUSTNETDIRECT.COM
EMAIL: [email protected]
CONTACTS:
T
HIS ISSUE OF TRUSTNET MAGAZINE
focuses on the impact of pension freedoms,
which were introduced two-and-a-half years
ago now. According to Pádraig Floyd, writing
in this month’s cover story, it has been something of a
missed opportunity for the industry – not only have
pension providers failed to offer new products to plug the
gap left by plummeting annuity sales, but there has also been a worrying
trend of savers pulling their money out at retirement without having the
faintest idea of what to do with it. This latter problem was one that the
Pensions Advice Allowance was supposed to address, but as Maggie
Williams finds out, stringent rules surrounding its withdrawal have
prevented take-up.
John Blowers also highlights some of the major considerations for
investors who want to take full responsibility for their retirement
income when they enter drawdown, while in this month’s final story on
pensions, I look at whether passives are a suitable product for this type
of investing.
In our regular columns, Adam Lewis finds out whether all the easy
gains in Japan have already been made, Evenlode Income’s Hugh Yarrow
names three stocks that streamline their customers’ businesses and
Aviva Investors’ Thomas Wells reveals why he is using Baillie Gifford
Japan to complement an existing holding in GLG Japan Core Alpha.
IN THIS ISSUE
8
22
14
26
Enjoy reading,
Anthony Luzio
Editor
T: 0207 534 7652
Art direction & design
Javier Otero
W: www.feedingcrows.co.uk
Anthony Luzio
Editor
Trustnet Magazine
Editorial
Gary Jackson
Editor (FE Trustnet)
T: 0207 534 7680
Rob Langston
News editor
T: 0207 534 7696
Lauren Mason
Senior reporter
T: 0207 534 7625
Jonathan Jones
Reporter
T: 0207 534 7640
Sales
Richard Fletcher
Head of publishing sales
T: 0207 534 7662
Richard Casemore
Account manager
T: 0207 534 7669
Photos supplied by Thinkstock
and Photoshot
Cover illustration: Javier Otero
In association with:
DRAWING A BLANK Pádraig Floyd says the industry and end consumer alike are still struggling to make sense
of pension freedoms P. 2-5 / WOULD YOU LIKE THAT IN A SMALL, MEDIUM OR LARGE, SIR? Henderson’s
Neil Hermon offers three reasons why it can be more lucrative to invest in smaller firms than their larger
counterparts P. 6-7 / THE ADVICE AGE COMETH Maggie Williams says stringent rules around the Pensions
Advice Allowance appear to be hampering its take-up P. 8-10 / DEPENDABLE DIVIDENDS The co-managers of
SAINTS believe they have identified the characteristics of businesses best placed to offer a consistent payout
to shareholders P. 12-13 / THE RIGHT TRACK Is it a good idea to invest your pension pot in passives? Anthony
Luzio finds out P. 14-16 / FUND, PENSION, TRUST Trojan Global Equity, BlackRock Smaller Companies IT
and Edinburgh Investment Trust find themselves under the spotlight this month P. 18-20 / ON THE RISE The
Japanese market is rallying after years in the doldrums – but, asks Adam Lewis, have investors missed out on
the easy gains? P. 22-25 / TAKING BACK CONTROL John Blowers highlights some of the major considerations
for investors who want to take full responsibility for their retirement income P. 26-28 / MEANING BUSINESS
Evenlode Income’s Hugh Yarrow names three stocks that help streamline their customers’ businesses, helping
them cope with a changing world P. 30 / WHAT I BOUGHT LAST Aviva Investors’ Thomas Wells is using the
Baillie Gifford Japan fund to complement an existing holding in GLG Japan Core Alpha P. 31