There may not be a Budget in its usual time slot this year but we’re not missing out on fiscal information as the Chancellor delivered his first Spring Statement to Parliament yesterday.
I’m sure you will have heard ongoing news coverage regarding the status of a number of UK Property funds, investment funds that hold ‘bricks and mortar’ commercial properties (industrial, retail and offices) in the UK. This media coverage has majored on the suspension of trading of funds at household names such Standard Life, M&G, Aviva and Aberdeen Asset Management, to name but a few.
Keep Calm and Carry On
So we’re out. As I write this first thing, the doom mongers and naysayers seem to be right, with the FTSE 100 down 500 points and the pound at a low not seen since 1985. September 11th 2001. September 15th 2008. Do we now add 24th June 2016 to the list of black days for the stock market? Should we be worried? To answer this we need to go back to the fundamentals of our financial planning and investment philosophies.