AJ Bell Money & Markets

On this week’s money and markets podcast Danni Hewson and AJ Bell’s head of retirement policy Tom Selby mull over the latest UK inflation numbers and discuss jobs data which shows more over 50s are heading back into the work place flagging a big issue about pensions. The FTSE 100 continues to flirt with the record books – nudging close to but not quite hitting a new high as UK retailers like Tesco, Currys and WH Smith deliver on the upside. But it’s not all been good news with profits at big US investment banks Goldman Sachs and Morgan Stanley among those taking a big hit with deals down and millions being set aside as recession beckons. Dan Coatsworth has been chatting to Mark Slater from the Slater Growth Fund about the rebound in UK stocks and how 2022 was one of his hardest ever years as a growth investor. And with the reopening of China partly behind the New Year rally, Danni’s been chatting to Ewan Markson Brown, manager of the Crux China Fund, about where he sees the opportunities for investors.

One this week’s Money and Markets podcast Dan Coatsworth and Danni Hewson dig into Christmas Trading numbers with updates from Sainsbury, JD Sports, Barratt Homes and Direct Line on menu they discuss what those results can tell you about the outlook for 2023. British firms worry about rising energy costs as the government announces that support is changing. Amazon looks to cut costs by closing three UK warehouses plus the latest on reports Goldman Sachs is about to axe thousands of jobs. Plus Terry Smith’s latest missive which shows he’s still got a bone to pick with Unilever and we hear from Richard Shepard-Cross from Custodian Property Income REIT about where he sees value in the market.

Prime Minister Rishi Sunak wants all pupils in the UK to study maths up to the age of 18. Laura Suter explores how making personal finance studies more prominent on the curriculum as part of this maths push would yield significant benefits to individuals later in life. Dan Coatsworth explains why Apple and Tesla shares have dragged down the US market so far in 2023 and he also debates what might be in store from the plethora of trading updates due from the retail sector. Discover why Fundsmith Equity Fund had its first year of negative returns since launch and why manager Terry Smith is not abiding by the fund’s ‘do nothing’ principle. Tom Selby discusses the rules around recycling money back into a pension, while Laura explains why anyone looking for top-paying cash savings deals should act quickly before rates fall. Dan also talks to Ed Smith, co-chief investment officer at Rathbone Investment Management, about solving the problem of slowing productivity.

On this year’s last episode of the money and markets podcast Dan Coatsworth, Danni Hewson, Laura Suter and Laith Khalaf share their thoughts about the year’s pivotal moments from Russia’s invasion of Ukraine to “Trussonomics” and why mega caps like Amazon and Apple have lost you money this year.  They also discuss the latest inflation figures on both sides of the Atlantic, assess how markets have reacted plus how a winter of strike action in the UK is affecting companies like Moonpig and discuss the latest trading updates from Frasers Group, Zara owner Inditex and the world’s biggest holiday company TUI. With 2023 hurtling towards us we hear from a host of fund managers about their picks for the new year, plus Laith digs into AJ Bell’s latest manager vs machine data and finds that the year’s volatility has actually put the machine in front.  And Laura talks interest rate rises and the scammers out to get you this Christmas.

If your train journey has been disrupted by strikes, don’t miss this week’s podcast where Laura Suter will be talking about what rights you have regarding refunds and compensation. Dan Coatsworth looks at the best and worst performing stock markets around the world in 2022. He also discusses what some of the pub companies have been saying about trading amid the World Cup. Tom Selby considers what might happen to the state pension and when people will be able to get it in the future. And the BBC’s Dougal Shaw talks to Danni Hewson about what makes a good company boss.

This week Danni and Laura have got a bumper interviews episode, with lots of great fund managers on to talk about the year that's (almost) passed and the year ahead. Amid signs that inflation could be near its peak, Dan Coatsworth has been asking Lazard fund manager Steve Wreford, about whether investors need to worry about it next year and why high inflation could stay on the agenda for longer than you might think. In markets this week we look at why protests in China have caused markets to wobble, the latest strike action and the impact on companies, and Elon Musk's latest spat. We look at whether the excitement around England reaching the next stage will translate to business for pubs. And we've got a bit of pensions news, as the regulator has made a big announcement about British Steel Pensioners. Dan also chats to Alex Wright from Fidelity Special Values investment trust about his outlook for 2023 and why NatWest sits pride of place in his investment portfolio. And he caught up with Kirsty Desson from abrdn’s Global Smaller Companies Fund about how she’s coped with a difficult year for small caps. Finally, Laura has also been crunching some numbers on the ridiculous situations where you end up paying 99% tax -- or even more -- when you get a payrise.

In a special bonus edition of the AJ Bell Money & Markets podcast, Dan Coatsworth talks to Nick Train about how his Finsbury Growth & Income Trust has fared in 2022. Nick discusses performance, companies with pricing power, his thoughts on Alan Jope planning to step down as Unilever chief executive, and why Relx remains a big holding for his portfolio.  The fund manager also talks about opportunities with Burberry, how much growth you might expect from his portfolio holdings, and whether he’s made new positions following this year’s market sell-off or simply topped up existing holdings.

It’s our 200th episode of the Money and Markets podcast. To celebrate we have three special guests talking about things that really matter to savers and investors. Laura Suter chats to NS&I chief executive Ian Ackerley about premium bonds and savings rates. Dan Coatsworth talks to Polar Capital Technology Trust manager Ben Rogoff about the change in fortunes for tech stocks. Dan asks Ben whether it is time for the Faangs to be relegated and a new group of tech stocks to lead the pack. They also talk about opportunities in the sector following widespread share price declines. Artemis fund manager Rebecca Young explains why investors with a 60/40 equity/bond portfolio shouldn’t panic about the bond component failing to provide support this year. Laith Khalaf looks at the latest activities among equities, currencies and government bonds, while Dan explains why the potential sale of Manchester United football club matters to investors, and why Disney has brought back its old chief executive.

Laith Khalaf and Tom Selby debate the forthcoming changes to taxes and allowances following the Chancellor’s Autumn Statement. They explain what the changes mean, and which ones are the most significant. Dan Coatsworth and Laura Suter discuss the relevance of Black Friday, whether retailers will enjoy a  bumper sales period, and what to think about if you’re trying to cut back on your spending but want to take advantage of discounts in the shops. Dan explains why stock markets have perked up in recent weeks, and he also talks to Fay Ren from the Cerno Pacific Fund about why companies with rich intellectual property can be attractive investments.

Laura and Danni have two interviews this week. The first is with bond fund manager veteran John Pattullo, from Janus Henderson Investors, who will be talking us through how he has navigated the recent market turmoil. And in the second interview Dan Coatsworth catches up with billionaire investor Bill Ackman from Pershing Square Holdings to talk about whether he’s worried about a recession and why he sold out of Netflix and Domino’s Pizza so quickly.  Also this week we’ll be looking at the nation’s financial resilience in the current cost of living crisis, as new data reveals 1 in 4 people have less than £100 in savings, as well as talking about that tricky task that everyone puts off: writing a will. And in the market update we’ll cover layoffs at Meta and Twitter, Primark’s decision not to raise prices and the cracks showing in the UK housing market.