Bonds

Bonds, Insider Trading and New Business Secretary

The risks inherent in open-ended property funds have received a lot of media coverage of late - see my blog post of the 5th July which simply said they should be avoided. With many such funds closing so that investors could not take their money out, the risks inherent in providing liquidity to investors when the underlying assets (namely buildings) are highly illiquid have become apparent. Paul Killik had an article published in Saturday's FTMoney (16/7/2016) that made some highly intelligent comments ...

Where Bonds are Concerned, Trust No-One

The news that the holders of Lloyds bonds (ECNs) have lost their legal battle in the Supreme Court reinforces the message that when it comes to investing in bonds, you should trust nobody - not the issuer of the bonds, your friendly stockbrokers and wealth managers who advise you, or the FCA to protect your interests. The bondholders won their case initially in the lower courts, that Lloyds should not be able to force redemption of these bonds at par. But after ...