The Queen owns no property outside Britain.- She owns at least 30 furs. They are worth a reported £1 million. There is a refrigerated fur store at Buckingham Palace.
- Her estimated worth is more than £100 million.
- Her investments are held by a company called Bank Of England Nominees. It allows heads of states to buy shares anonymously.
- Under the ancient law of Bona Vacantia, The Queen is entitled to the property of those who die without heirs within the Duchy’s realm, the Country Palatine. The Queen still gets this money but apparently gives it to charity.
- She earns at least £1 million a month minimum.
- The Sovereign Grant, the amount of money the Queen gets from the government, was £31 million in 2012/13.
- The Royal Collection consists of 7,000 paintings, 40,000 watercolours and drawing and 150,000 Old Masters prints.
- The royal cars at Sandringham are worth an estimated £7.1 million
- She doesn’t need a passport and is the only person in the United Kingdom who is not required to have a driving licence in order to drive. She also does not require number plates on any of her cars. The official website of the British monarchy says, “As a British passport is issued in the name of Her Majesty, it is unnecessary for The Queen to possess one.”
- William and Harry just call her ‘granny’
- No alarm clock: she wakes to the sound of her personal bagpiper every morning.
- Buckingham Palace has 775 rooms.
- She met Prince Phillip when she was just 13.
Tag Archives: Money
Cameras At The Ready – Last Call For Short Film Competition Entries
Less than two weeks remain to enter the UK’s fastest growing short film competition and have work judged by industry experts – including actress Jaime Winstone and producer Lisa Bryer.
Now in its fifth year, the reed.co.uk Short Film Competition invites all filmmakers to create a three minute film for a chance to win a top prize of £10,000, an exclusive mentoring opportunity and bespoke skills training.
Entrants are tasked to write, shoot and edit a funny, artistic or thought-provoking short film around the theme of ‘family business’. The calibre of entries is expected to be high thanks to the expert panel of judges and partners, which includes BAFTA, Channel 4, British Council, Creative England and Total Film.
This year’s competition features more opportunities to win than ever before with four prizes being awarded:
· Grand Prix – decided by the panel of expert judges, one filmmaker will win £10,000 plus funding, training and expert mentoring
· Judges’ Commendation – also decided by the judging panel, £1,000 prize plus skills training
· People’s Choice Award – chosen by the public via an online vote, £1,000 prize plus skills training
· Best Young Filmmaker – entrants who are 25 or under on the 22nd of January 2014 will be eligible to win £1,000, skills training and a six-week paid internship
The deadline for entries into the competition is 22nd January 2014. Visit www.reed.co.uk/film for more information.
BBC To Commercialise World Service
The BBC have unveiled plans to commercialise the 80-year-old World Service, causing anger in some parts. Coverage of politics will be downplayed. The BBC is to take over funding of the World Service from the Foreign and Commonwealth Office. It will transfer to licence-fee funding in April. One of the reforms may be advertising on the site, which staff believe that the changes are in part to attract advertisers, outside of the UK the BBC relies on commercials on it’s channels and websites. BBC Global News Ltd lost £800,000 last year, and £21million was lost in the UK operation according to accounts, most of the loss was offset by advertising and sponsorship money made overseas.
A spokesperson for the BBC told The Independent: “The BBC’s reputation for providing impartial and independent news will always take precedence over wider commercial goals. Our experience with World News, bbc.com and some limited World Service commercial activity shows that these forms of funding are generally accepted by audiences outside the UK, and that editorial standards and public service priorities can be maintained.”
However Shadow culture minister Helen Goodman said: “The proposed drift away from the core purpose of the World Service is precisely what people feared when this Government said that the Foreign Office would no longer finance it. It’s really important that the World Service stays on mission as a reliable, truthful broadcaster of important news to people in places where this is not otherwise available.”
What do you think? Is commercialisation a good or bad thing? Is this just a sign of the times?
Investment Trusts by John Baron | Book Review
When I first saw the title of this book, ‘Investment Trusts’. I thought that it would be quite a dry read. I was very wrong. This is a well written and easy to read guide to investment trusts. A must read for investors and financial advisers.
John Baron presents an extremely compelling case for investing in investment trusts instead of the more common and traditional unit trusts/ mutual funds.
As a very basic overview.
Unit trusts are open ended (except funds from new investors) and trade at their net asset value
Investment trusts trade like shares on an exchange. They are closed ended (don’t accept new investor funds) and can trade at a discount or premium to their actual net asset values.
The book does a much better job of explaining the differences and goes into a lot more detail. Baron examines the factors which explain why unit trusts/OEICs under perform investment trusts. He clearly presents the opportunities which many investors may be missing out on.
The book is well researched (Baron has worked in the industry for many years). It is clear easy to understand, jargon free and well structured. It is difficult to argue with any of the authors conclusions. The book also has extra tips for successful investing and information on how to construct and monitor a trust portfolio. This is a must read for any investor who currently only invests in mutual funds. I’m not surprised it has a flawless record of 5 star reviews on Amazon.
5/5
Financial Times Guide to Investment Trusts: Unlocking the City’s Best Kept Secret is available here.
Royal Mail to float – what interested investors should do
The biggest privatisation for two decades
· Royal Mail to float
· What interested investors should do
· IPO Q & A
Today the Government have announced plans to float the Royal Mail in what could be the largest privatisation for two decades. The state-owned postal service could be valued up to as much as £3 billion in an initial public offering (IPO) taking place this year.
Richard Hunter, Head of Equities, Hargreaves Lansdown;-
““The success of the Direct Line Group & esure share offers has reignited private investor interest in IPOs. The offer of shares to the public is reminiscent of the float of British Gas in the 1980’s which was accompanied by the “Tell Sid” Campaign. Shares will be marketed to the public and any investors aged over 18 will be able to apply for shares.
What interested investors should do
Richard Hunter
“We don’t have the details of the IPO yet. Investors can register their interest with a stockbroker now and when a prospectus and application pack becomes available they will contact you with all the information needed to invest.”
Tell Sid? – Investing in an Initial Public Offerings (IPOs) Q & A
From the first “Tell Sid” privatisation of British Gas in the 1980s, flotations and Initial Public Offerings (IPOs) have always been of interest to the investor. Richard Hunter, Head of Equities, explains how they work.
What is an IPO?
An Initial Public Offering (IPO) is where the owner(s) of a company sell all of part of their stake to the public in order to raise money. This cash can then be used to grow the company or simply be returned to the owners. An IPO is also commonly called a flotation.
An IPO may only be made available to institutional investors or to a mixture of private (retail) and institutional investors. An IPO happens in three stages.
1. The Intention to Float – The company announces to the stock market, public stating they wish to float the company
2. Preparation of Prospectus – The company will then prepare and release a prospectus. This aims to be the definitive document relating to the launch and will describe the offer in detail. Applications to buy shares in an IPO should always be made on the basis of the information contained in the prospectus
3. Sale of shares – The company and their advisers invite applications for the shares. The IPO will be open for a fixed time known as the Offer Period
When will the share price be known?
In some cases fixed price offers are made and the investor will know the share price in advance. Alternatively the share price will not be known until the date the company floats. In some cases the company will provide an indicative range for the flotation price of the shares e.g. £2.00 to £2.20. The precise price won’t be fixed until near the listing date and may depend on demand for the shares. Once the share has floated on the open market, the price will the rise and fall as all other shares do.
Why would investor want to get buy shares at IPO?
An IPO allows investment in a company when it first enters a stock market.
When will shares go on sale?
The timetable for an IPO generally spans four weeks. An Intention to Float announcement is made and then around two weeks later the prospectus is issued and the offer period starts. It is during this period investors can apply for shares.
Where can investors get a prospectus for an IPO?
Interested investors should contact a stock broker who will be able to register your interest in receiving a prospectus. In some cases a stock broker will provide research and updates as information becomes available. For example, Hargreaves Lansdown has been involved in the majority of IPOs over the last 30 years.
How do investors buy IPO shares?
Investors can buy IPO shares through a stockbroker. A share dealing account should be opened and money deposited to buy the shares. This can be done online or over the telephone using a debit card, or alternatively a paper application accompanied by a cheque can be used.
How many shares can investors buy from an IPO?
There is normally a minimum number – If the offer is oversubscribed investors may not be able to buy all the shares they want to buy. If this is the case the balance of money can be used to buy other shares or can be refunded.
Can investors buy IPO shares through an ISA, SIPP or Junior ISA?
In some cases money in an ISA, SIPP or Junior ISA can be used to buy IPO shares. This depends upon which market the company is listing upon and the type of IPO.
What dealing costs are paid?
Buying IPO shares is often free for investors.
Hargreaves Lansdown’s charges are as follows:
IPO share purchase
Share account charge Nil (Other charges to hold shares may apply e.g. in ISA and SIPP (ISA – 0.5% capped at £45 a year, SIPP – 0.5% capped at £200 a year).
Selling IPO shares will be subject to a dealing charge from £5.95 and no more than £11.95 (online).
Buying IPO shares after the offer period, when the shares are available in the market, will be subject to a dealing fee of no more than £11.95 (online) plus stamp duty of 0.5%.
Is there a minimum holding period? How quick can an investor sell?
There is no minimum period, but generally it takes 3 working days from the date of the float to issue the shares and selling cannot practically happen before then.
How will investors be able to sell IPO shares?
This is easy. Simply choose when and how many to sell, and execute the deal online or alternatively instruct a sale over the telephone. Dealing online is almost always cheaper than dealing over the telephone.
Will there be a dividend from IPO shares and if so, how will they be paid and when?
This depends upon the company. The prospectus will normally detail any proposed dividend policy.
How will investors find out if there are any special discounts or shareholder perks?
If there are any, they will be detailed in the prospectus
What are the risks?
The value of shares will fall as well as rise, so investors may get back less than they invested. Dividends are not guaranteed and, if paid, are variable. During the period between the Intention to Float being announced and the start of the offer period, the intention may be withdrawn. This rarely happens.
A company which is the subject of an IPO may not have a long track record and could be difficult to value or calculate a fair price. In many IPOs investors do not know the share price before committing to buy and therefore may end up buying at a higher price than they wished.
Investors should read the prospectus and any supplementary documentation as this will include the main risks of investing.
The Collapse of Private Pensions
According to data published by the Office for National Statistics today, membership of private pensions (as opposed to the National Insurance funded state pension) has hit a new low; just 35% of men and 32% of women aged between 16 and 64 were active members of a private pension in 2011/12.
Membership of Defined Benefit pensions has declined from 46% of employees in 1997 to just 28% in 2012, almost exclusively now in the public sector.
Participation rates of employees varies dramatically between public and private sectors, with 85% of men and 81% of women in the public sector, compared to 36% and 26% respectively in the private sector.
Hargreaves Lansdown comment, Tom McPhail, Head of Pensions Research ‘These figures illustrate dramatically how important it is that auto-enrolment succeeds over the next 5 years. It is vital that nothing is done to jeopardise this project and that everything possible is done to encourage people to stay enrolled in their workplace pensions. Recent calls for reform of pension taxation or for small businesses to be exempt from auto-enrolment should be postponed or ignored until the foundations of a savings culture have been properly laid.’
Separately, the ONS has reported average contribution rates as 19.2% of payroll for Defined Benefits schemes and just 9.4% for Defined Contribution arrangements.
Tom McPhail: ‘The inevitable consequence of this level of pension funding is that millions of people will have to work on into their 70s because they won’t be able to afford to retire earlier. All defined contribution members should be shown what their contributions are likely to buy for them in the way of a retirement income, this pension projection should be updated regularly and members should be encouraged to engage with their retirement planning. 9.4% as an average is simply not enough. Investors should aim to be contributing at least 12% of their income towards their retirement. For a more personal estimate, they should use an online pension calculator.’
Many pension calculators are available on the internet, this is one example http://www.hl.co.uk/pensions/interactive-calculators/pension-calculator
What do you think? Do you have a pension?
Are Vouchers Now Cool?
Saving money is important in today’s climate. While the recession grumbles on with only slight growth people are having to look around to find ways to have the same standard of living. It seems we are working harder for less and less. Understandably, our attitude to money is changing. When we work so hard for so little, or have no job at all, we all become more frugal with our cash, and who can blame us for being fussy about spending our hard earned money?
Back in the day vouchers used to be incredibly uncool. Cutting clippings out of newspapers to save 30 pence was not worth the embarrassment at that time. But times change and now vouchers are cool. The embarrassments is no longer there because thrift is in.
This is in part due to the recession. Interest rates are low, jobs are hard to come by or keep, wages are not rising but the cost of living is. Our finances are stretched like never before. This is why not only have vouchers become popular, but voucher websites have also become part of our culture. We can save money on clothes and make up, food and drink, but we can also save money on going out. You don’t have to be rich to live rich; you just have to be savvy.
There are a lot of options for finding vouchers. There are still many in traditional media like magazines and newspapers. However, Coupon websites such as voucherbox.co.uk are where it is at. They help people save money and still live despite the squeeze. It seems folly now to buy anything without one or even go out. I don’t know anyone who goes to Pizza Express without checking the internet for buy one get one free vouchers. We never need to buy full price ever again.
What is your opinion? Do you use vouchers or coupons? Comment below.
Chinese Shanghai Composite index falls 5.3% on Monday
Recent actions by the Chinese regulators to curb lending has further unnerved investors already unsettled by recent comments from Ben Bernanke. The interest rates Chinese banks charge each other surged last week to record highs before falling back. And following a recent statement by the People’s Bank of China, the Shanghai Composite Index fell 5.3% Monday night.
Adrian Lowcock, Senior Investment Manager, at Hargreaves Lansdown;-
“China’s new leadership is addressing some of the risks that have been building up in the banking system, inevitably this could result in some short term pain, possibly impacting on growth but it should benefit China in the longer run. Chinese stock markets do look cheap at present, based on 20 years of information. In addition it is important to remember that China is a state-controlled economy and therefore it is very difficult to make a clear judgement on the accuracy of the information being provided. There are some concerns China’s shadow banking system will spiral out of control, however it seems unlikely the People’s Bank of China will let the system fail.“
“In line with their 5 year plan China is undergoing a change from an export driven manufacturer to a consumer focused economy. This transition is not going to be smooth and there will be some bumps along the way. China continues to grow, at around 6 to 7% per annum, but like all emerging markets this does not lead to a smooth rise in the equity market.
In 2007 investing in China was very popular and as a result valuations rose to very high levels. The market has underperformed both developed and emerging markets since. There are clearly issues in China’s financial system and authorities are now taking action to deal with these. For long term investors that want to have exposure to China this setback could be providing an opportunity to invest. Company earnings are rising and valuations are looking much more attractive. Most investors can get sufficient exposure through a well-diversified emerging markets fund such as First State Asia Pacific Leaders which has 23.9% in the region or Aberdeen Asia Pacific which has 18.47% in the area. For investors wishing to take a more adventurous approach and are able to tolerate a higher level of risk then Jupiter China, managed by Philip Ehrmann, provides exposure.”