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RSS Feeds`Ridiculously complex´: Top financier blasts UK´s biggest fund
(The Guardian Money News)

 
 

26 may 2018 08:16:13

 
`Ridiculously complex´: Top financier blasts UK´s biggest fund
(The Guardian Money News)
 




A Standard Life fund that holds nearly £20bn of Britons´ cash should not have been sold to the public, says Alan MillerIt´s the biggest single stock market fund in Britain, holding nearly £20bn of small investors´ cash. Yet while the FTSE 100 has soared, hitting a record high this week, the fund, managed by Standard Life, has made nothing for investors for five years. Now Alan Miller, husband of anti-Brexit campaigner Gina Miller and a senior figure in the fund management industry, is calling it `potentially one of the greatest mis-selling scandals in the UK`.The fund is called Standard Life Global Absolute Return Strategies (Gars). It was launched in 2006 with a golden promise - a hedge fund for the masses that would make 5% a year more than savers would get from bank accounts and, crucially, without the usual volatility of the stock market. Continue reading...
 
12 viewsCategory: Business > Economy
 
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