“UK becomes the fraud capital of the world”

Jun 25, 2024 | Investments

Remember that rather silly song?: ‘Everybody’s good at doing something, and I’m good at cooking crumble’. No? Well, we are, it seems, good at something but not something we want to be good at. Online fraud in the UK has increased faster than in other major economies with companies are losing £ms a year, either directly or by having to compensate scammed customers. And the problem is that the crooks are always one step ahead of the cyber security guys. I’d guess many of them are cyber security guys who’ve moved to the dark and more profitable side and that tracing them is pretty much impossible. Having said that, I was talking to someone who’s recently worked in a Regent Street store, where gangs routinely walk in, blatantly clear rails of designer gear and run out giving the finger to the CCTV.  In the words of another song, Somethings Gotta Change.

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“FCA to take action against Neil Woodford and WIM”

“FCA to take action against Neil Woodford and WIM”

It’s ten years now since Neil Woodford launched his own fund management company. He was seen as a miracle-working fund-management guru in our business for many years, running highly successful equity income funds with Invesco, formerly Invesco Perpetual.

“LSEG report: Most active funds are underperforming their benchmarks”

“LSEG report: Most active funds are underperforming their benchmarks”

So-called ‘tracker’ or ‘passive’ funds have become very much more sophisticated in recent years, largely facilitated by technology. The originals, you may remember the Virgin UK Index Tracker, launched nearly 30 years ago, mimicked the FTSE index and, as they don’t need anyone to manage them, were and are very much cheaper than ‘active’ funds.