The best Åê»ñ ¿®ÍÑs for your ǯ¶â - ÀìÌç²Ès ÌÀ¤é¤«¤Ë¤¹¤ë¡¿Ï³¤é¤¹ their Áª¤Ös
Best Åê»ñ ¿®ÍÑs for your ǯ¶â: Tips for your Âç¿Ã¤ÎÃÏ°Ì throughout your ºâÀ¯¾å¤Î life
When it comes to building your ǯ¶â ¥Þ¥ê¥Õ¥¡¥Ê or Åê»ñ¤¹¤ëing it for Â࿦ income, finding a reliable Åê»ñ »öÊÁs.
Returns are never Êݾڡʿ͡Ëd - and Åê»ñs go É餫¤¹¡¿·âÄƤ¹¤ë ƱÍÍ¤Ë as up - but there are some ÆÃħ that make some stand out.?
Many Åê»ñ ¿®ÍÑs have built remarkable Àפò¤Ä¤±¤ë µÏ¿¡¤µÏ¿Åª¤Ê¡¿µÏ¿¤¹¤ës for raising ¡Ê³ô¼ç¤Ø¤Î¡ËÇÛÅös, making them a popular ÁªÂò for people À½¿Þ¡¿ÃêÁª É餫¤¹¡¿·âÄƤ¹¤ë an income in Â࿦.
But ºâÀ¯¾å¤Î ½õ¸À¼Ôs have also come up with some ºÇ¹â¤Î¡¤¤ò±Û¤¹ Áª¤Ös from the world of Åê»ñ ¿®ÍÑs for those still building up a ǯ¶â too.
The ¶¨²ñ of Åê»ñ Companies has ¼ý½¸¤¹¤ëd ÀìÌç²È ¿äÁ¦s for what is known in ºâÀ¯¾å¤Î jargon as the 'accumulation' Ãʳ¬ of a saver's life, and for those needing an income in the 'decumulation' ¹Ô¤¦¡¿³«ºÅ¤¹¤ë¡¿Ãʳ¬ in Â࿦.
Åê»ñ ¿®ÍÑs are ̾Êí¡Ê¤ËºÜ¤»¤ë¡Ë¡¿É½¡Ê¤Ë¤¢¤²¤ë¡Ëd companies with ³ô that Ëǰסʤ¹¤ë¡Ë on the ³ô¼°»Ô¾ì.?
They are known as ¤Î¶á¤¯¤Ëd-ended, because Åê»ñ²Ès can buy or sell ³ô to join or leave, but new money outside this pool cannot be raised without ÌäÂ꡿ȯ¹Ô¤¹¤ëing new ³ô.
That is unlike open-ended Åê»ñ ´ð¶âs where money is pooled to Åê»ñ¤¹¤ë in ³ô, ¼ÒºÄs or other ´ð¶âs.
Åê»ñ ¿®ÍÑs can be riskier than ´ð¶âs because their ³ô can Ëǰסʤ¹¤ë¡Ë at a ¾ÞÍ¿¶â or ³ä°ú to the value of the »ñ»ºs they »ý¤Ä¡¿¹´Î±¤¹¤ë - see below for more on how this ºîÉÊ.
Although the ̾Êí¡Ê¤ËºÜ¤»¤ë¡Ë¡¿É½¡Ê¤Ë¤¢¤²¤ë¡Ë below has been Áª¤Öd by four professional ºâÀ¯¾å¤Î ½õ¸À¼Ôs, remember that this is not individual ºâÀ¯¾å¤Î advice and you should always check if an individual Åê»ñ is ¸¢Íø for you. If in µ¿Ìä, Áܤ·½Ð¤¹ ÆÈΩ¤·¤¿¡¦Ìµ½ê° ºâÀ¯¾å¤Î advice.
Saving: 'I'm still building up a ǯ¶â'
Paul Chilver, ºâÀ¯¾å¤Î planning ·Ð±Ä¼Ô¡¿»ÙÇÛ¿Í at Birkett Long
With the seemingly ever-Áý²Ã¤¹¤ëing ÌÀ¸À¤¹¤ë¡¿¸øɽ¤¹¤ë ǯ¶â age and the Í褿¤ë¤Ù¤ Áý²Ã¤¹¤ë to the age an individual can Àܶá their ǯ¶â, Åê»ñ¤¹¤ëing into a ǯ¶â is for the long ¾Î¤¹¤ë¡¤¸Æ¤Ö¡¿´ü´Ö¡¿ÍѸì.
With this in mind Åê»ñ ¿®ÍÑs, many of which are Ëǰסʤ¹¤ë¡Ëing ¤Î¶á¤¯¤Ë to µÏ¿¡¤µÏ¿Åª¤Ê¡¿µÏ¿¤¹¤ë ³ä°ús, could be an excellent ÁªÂò.
³ä°ús are ÆÃ¤Ë attractive on UK-¾ÇÅÀ¡Ê¤ò¹ç¤ï¤»¤ë¡Ëd Åê»ñ ¿®ÍÑs and one suggestion for the accumulation ¹Ô¤¦¡¿³«ºÅ¤¹¤ë¡¿Ãʳ¬ of Åê»ñ is the ¾¦¶È¤Î Åê»ñ ¿®ÍÑ managed by JPMorgan which has been at a ÆóÎÝÂÇ-digit ³ä°ú for many months ¤Ë¤â¤«¤«¤ï¤é¤º very good short-¾Î¤¹¤ë¡¤¸Æ¤Ö¡¿´ü´Ö¡¿ÍÑ¸ì ¶ÈÀÓ¡¿À®²Ì.
¾¦¶È¤Î Åê»ñ ¿®ÍÑ?(¸½ºß¿Ê¹ÔÃæ¤Î ¹ðȯ¡Ê¤¹¤ë¡Ë¡¤¹ðÁʡʤ¹¤ë¡Ë¡¿ÎÁ¶â: 1.41 per cent)
Philippa Maffioli, ¾åµé¤Î Åê»ñ ·Ð±Ä¼Ô¡¿»ÙÇÛ¿Í at Blyth-Richmond Åê»ñ ·Ð±Ä¼Ô¡¿»ÙÇÛ¿Ís
During the accumulation Ãʳ¬ when growth and diversification are ɬ¿Ü¤Î, I recommend À¤³¦Åª¤Ê Healthcare ¿®ÍÑ.
This Á´À¤³¦¤Î ¿®ÍÑ gives Åê»ñ²Ès the ŬÀڤʻþ´ü to ¿¤Ó¡Ê¤ë¡Ë ¡Ê´í¸±¤Ê¤É¤Ë¡Ë¤µ¤é¤¹ to À½Ìô¤Î, À¸Êª¹©³Ø, and other ´Ø·¸¤Î¤¢¤ë healthcare companies all within an ³èȯ¤Ë managed Âç¿Ã¤ÎÃÏ°Ì.
These ÈÏ°Ï from large ¿¹ñÀҤΠÀ½Ìô¤Îs to unquoted ¸½¤ì¤ëing À¸Êª¹©³Ø companies. The ´ð¶â is managed by OrbiMed »ñËÜ¡¿¼óÅÔ which was ÀßΩ¤¹¤ëd in 1989 and has become the largest healthcare Åê»ñ ²ñ¼Ò¡¿·ø¤¤ in the world.
The team are ³èȯ¤Ë looking at nearly 1,000 companies and the team ºîÉÊ to identify sources of outperformance ƱÍÍ¤Ë as those with underappreciated À½ÉÊs in the pipeline with high ¼Á ´ÉÍý¡¿·Ð±Ä teams and strong ºâÀ¯¾å¤Î »ñ¸»s.
À¤³¦Åª¤Ê Healthcare ¿®ÍÑ?(¸½ºß¿Ê¹ÔÃæ¤Î ¹ðȯ¡Ê¤¹¤ë¡Ë¡¤¹ðÁʡʤ¹¤ë¡Ë¡¿ÎÁ¶â: 0.83per cent)
I am very keen for my ¡ÊÊÛ¸î»Î¤Î¡Ë°ÍÍê¿Ís to ¿¤Ó¡Ê¤ë¡Ë ¡Ê´í¸±¤Ê¤É¤Ë¡Ë¤µ¤é¤¹ to the ´ÉÍý¡¿·Ð±Ä style of Spencer Adair and Malcolm MacColl of The ½¤Æ»»Îs Åê»ñ ¿®ÍÑ during the accumulation Ãʳ¬ of a Sipp.
Their ÌÜŪ¡Ê¤È¤¹¤ë¡Ë is to ¾ÇÅÀ¡Ê¤ò¹ç¤ï¤»¤ë¡Ë on Á´À¤³¦¤Î companies from a ÈÏ°Ï of profiles with above ÉáÄ̤Ρ¿Ê¿¶Ñ¡Ê¤¹¤ë¡Ë ¼ýÆþs growth which they ¿äÄꤹ¤ë¡¿Í½ÁÛ¤¹¤ë to »ý¤Ä¡¿¹´Î±¤¹¤ë for around five years.
That said, they are known for ±éÀâ¡Ê¤¹¤ë¡Ë¡¿½»½êing ÌäÂ꡿ȯ¹Ô¤¹¤ës Ĺ¡¤Î¨¤¤¤ë on and aren¡Çt afraid to take a ÈãȽŪ¤Ê look at their Âç¿Ã¤ÎÃÏ°Ì when necessary, which I believe is very ÀâÆÀÎϤΤ¢¤ë.
I believe that ½¤Æ»»Îs is °æ¸Í¡¿ÊÛ¸î»ÎÀÊ positioned to capitalise on the continuous ž´¹ to a more digitalised world and must be ´Þ¤àd in a Âç¿Ã¤ÎÃÏ°Ì where growth is Í׵᤹¤ëd.
½¤Æ»»Îs Åê»ñ ¿®ÍÑ?(¸½ºß¿Ê¹ÔÃæ¤Î ¹ðȯ¡Ê¤¹¤ë¡Ë¡¤¹ðÁʡʤ¹¤ë¡Ë¡¿ÎÁ¶â: 0.69 per cent)
Doug Brodie, ÁÏΩ¼Ô and Ĺ¡¤»ØƳ¼Ô (n)Ìò°÷¡¿(a)¼¹¹ÔÎϤΤ¢¤ë of Chancery ¾®Æ»¡¿¹ÒÏ©
In building ǯ¶âs Åê»ñ²Ès should take ¸ø¼°Ê¸½ñ¡¤Ç§¤á¤ë that ¿®ÍÑs like Lowland, Murray International and City of London have all handsomely outperformed the FTSE All ³ô over the last 20 years.
Åê»ñ ¿®ÍÑs may not have the sales and marketing ͽ»»s of ǯ¶â companies so Åê»ñ²Ès have to look a bit harder.
A quick look at the long-¾Î¤¹¤ë¡¤¸Æ¤Ö¡¿´ü´Ö¡¿ÍѸì returns will show folk there¡Çs a good ¿äÏÀ¤¹¤ë¡¿Íýͳ that institutional Åê»ñ²Ès are big Åê»ñ²Ès in ¿®ÍÑs.
Lowland?(¸½ºß¿Ê¹ÔÃæ¤Î ¹ðȯ¡Ê¤¹¤ë¡Ë¡¤¹ðÁʡʤ¹¤ë¡Ë¡¿ÎÁ¶â: 1.03 per cent)
Murray International?(¸½ºß¿Ê¹ÔÃæ¤Î ¹ðȯ¡Ê¤¹¤ë¡Ë¡¤¹ðÁʡʤ¹¤ë¡Ë¡¿ÎÁ¶â: 0.78 per cent)
City of London?(¸½ºß¿Ê¹ÔÃæ¤Î ¹ðȯ¡Ê¤¹¤ë¡Ë¡¤¹ðÁʡʤ¹¤ë¡Ë¡¿ÎÁ¶â: 0.65 per cent)
Neil Mumford, ¼Ú¤êÀڤ롿·û¾Ïd ºâÀ¯¾å¤Î planner at Milestone Wealth ´ÉÍý¡¿·Ð±Ä
For those looking for growth, I¡Çd recommend JPMorgan Á´À¤³¦¤Î Growth and Income ¿®ÍÑ. This is one of the few Åê»ñ ¿®ÍÑs to be Ëǰסʤ¹¤ë¡Ëing at a ¾ÞÍ¿¶â, but this should not ´Ø¿´ long-t erm Åê»ñ²Ès.
It places a high ¶¯Ä´ on the world¡Çs largest ³ô¼°»Ô¾ì the US, accounting for two-thirds of the Âç¿Ã¤ÎÃÏ°Ì. It is a high ͺá¤ÎȽ·è Âç¿Ã¤ÎÃÏ°Ì with 50 to 90 holdings, with the ºÇ¹â¤Î¡¤¤ò±Û¤¹ ten making up more than 40% of the Âç¿Ã¤ÎÃÏ°Ì.
This has µö¤¹d it to outperform by some Íø¤¶¤ä with a 305 per cent return over the last ten years.
There will be times when there may be swings in the Âç¿Ã¤ÎÃÏ°Ì value but for the ´µ¼Ô Åê»ñ²È this will hopefully »Ùʧ¤¦¡¿Ä¶â off. If there was ´Ø¿´ about the ¾ÞÍ¿¶â, this ¿®ÍÑ would also be ideal for Àµµ¬¤Î¡¿ÀµÁª¼ê ·îËè¤Î Åê»ñs.
JPMorgan Á´À¤³¦¤Î Growth and Income (¸½ºß¿Ê¹ÔÃæ¤Î ¹ðȯ¡Ê¤¹¤ë¡Ë¡¤¹ðÁʡʤ¹¤ë¡Ë¡¿ÎÁ¶â: 0.66 per cent)
Drawdown: I need to Åê»ñ¤¹¤ë for income
Neil Mumford of Milestone Wealth ´ÉÍý¡¿·Ð±Ä
The Scottish American Åê»ñ Company is my choice for someone looking at building either an income or growth Âç¿Ã¤ÎÃÏ°Ì and is a ºÇ¹â¤Î¡¤¤ò±Û¤¹ five »ý¤Ä¡¿¹´Î±¤¹¤ëing in my own Sipp.
I am still ÃßÀѤ¹¤ëing but it will stay once I am À½¿Þ¡¿ÃêÁª É餫¤¹¡¿·âÄƤ¹¤ë. It is a truly diversified ¸øÀµ¡¤ÉáÄ̳ô¼ç¸¢ Âç¿Ã¤ÎÃÏ°Ì, spread Ê¿Åù¤Ë between the US and Europe at around 35 per cent each of the Âç¿Ã¤ÎÃÏ°Ì.
Neil Mumford:?The Scottish American Åê»ñ Company is a ºÇ¹â¤Î¡¤¤ò±Û¤¹ five »ý¤Ä¡¿¹´Î±¤¹¤ëing in my own Sipp
Although it doesn¡Çt have the highest »º¤¹¤ë¡¿À¸¤¸¤ë at 2.9 per cent, this ¡Ê³ô¼ç¤Ø¤Î¡ËÇÛÅö hero has Áý²Ã¤¹¤ëd its payouts by an ÉáÄ̤Ρ¿Ê¿¶Ñ¡Ê¤¹¤ë¡Ë of 4.2 per cent a year over the past five years and this ¡Ê³ô¼ç¤Ø¤Î¡ËÇÛÅö Áý²Ã¤¹¤ë has not ˸³²¤¹¤ëd its ability to grow »ñËÜ¡¿¼óÅÔ ? a total return of more than 170% over the last ten years should please any Åê»ñ²È.?
The price is ¸½ºß¡¿°ìÈÌ¤Ë a ´°Á´¤Ë¤¹¤ë ¼è°ú when you consider that it is Ëǰסʤ¹¤ë¡Ëing at an ¶Ëü¤Ë attractive ³ä°ú to ÂáÊ᤹¤ë »ñ»ºs of around 10 per cent when Îò»ËŪ¤Ë it has been Ëǰסʤ¹¤ë¡Ëing at ¶á¤Å¤¯ NAV or at a ¾ÞÍ¿¶â.
Scottish American Åê»ñ Company (¸½ºß¿Ê¹ÔÃæ¤Î ¹ðȯ¡Ê¤¹¤ë¡Ë¡¤¹ðÁʡʤ¹¤ë¡Ë¡¿ÎÁ¶â: 1.01 per cent)
Philippa Maffioli of Blyth-Richmond Åê»ñ ·Ð±Ä¼Ô¡¿»ÙÇÛ¿Ís
During the decumulation Ãʳ¬ when »ñËÜ¡¿¼óÅÔ growth is not as important and the ¶¯Ä´ can ž´¹ ¤Ë¸þ¤«¤Ã¤Æ »ñËÜ¡¿¼óÅÔ Êݸî, Personal »ñ»ºs ¿®ÍÑ has an important place in many retirees¡Ç Âç¿Ã¤ÎÃÏ°Ìs.
The ·Ð±Ä¼Ô¡¿»ÙÇÛ¿Í¡Çs approach is reassuringly ÊݼéŪ¤Ê and is ¾ÇÅÀ¡Ê¤ò¹ç¤ï¤»¤ë¡Ëd on looking at the ´í¸± of losing money rather than the ´í¸± of volatility.
Even though this is the »öÎã¡¿´µ¼Ô, it ¿½¤·¹þ¤à¡¿¿½¤·½Ðs Á´À¤³¦¤Î diversification across four »ñ»º classes and is a bedrock for lower ´í¸± and/or decumulating Âç¿Ã¤ÎÃÏ°Ìs.
It is managed by Sebastian Lyon who is Êä½õÁõÃÖd by Charlotte Yonge and their À¯ºö is to Êݸ¤ë and Áý²Ã¤¹¤ë (in that order) the value of ³ô¼çs¡Ç ´ð¶âs over the long ¾Î¤¹¤ë¡¤¸Æ¤Ö¡¿´ü´Ö¡¿ÍѸì.
Personal »ñ»ºs ¿®ÍÑ (¸½ºß¿Ê¹ÔÃæ¤Î ¹ðȯ¡Ê¤¹¤ë¡Ë¡¤¹ðÁʡʤ¹¤ë¡Ë¡¿ÎÁ¶â: 0.67 per cent)
Ruffer Åê»ñ Company is another ¿®ÍÑ which concentrates on »ñËÜ¡¿¼óÅÔ Êݸî and has a very successful Àפò¤Ä¤±¤ë µÏ¿¡¤µÏ¿Åª¤Ê¡¿µÏ¿¤¹¤ë in ãÀ®¤¹¤ëing this.
The µÒ´ÑŪ¤Ê is to »ý³¤¹¤ë a diverse Àïά ²ñ¼Ò¤Ë¤¹¤ë¡¿ÁȤ߹þ¤àing short-»þÂåÃÙ¤ì¤Î ¼ÒºÄs, credit and derivative Àïάs and precious metals, ²Ã¤¨¤ë a diverse spread of international ¸øÀµ¡¤ÉáÄ̳ô¼ç¸¢s.
The Åê»ñ Àïά and »ñ»º ÇÛʬ are »Ï¤á¤ë¡¤·è¤á¤ë by Henry Maxey and Neil McLeish, Co-Ĺ¡¤»ØƳ¼Ô Åê»ñ Officers, supported by a team of ¾åµé¤Î ´ð¶â ·Ð±Ä¼Ô¡¿»ÙÇÛ¿Ís and ¸¦µæ ʬÀϲÈs.
Paul Chilver: Åê»ñ ¿®ÍÑs can smooth their income »Ùʧ¤¤¡Ê³Û¡Ës, meaning some income can be ÊÝ»ý¤¹¤ëd in »öÎã¡¿´µ¼Ô it is needed in ̤Íè
Ruffer Áܤ·½Ð¤¹s to Êݸ¤¹¤ë »ñËÜ¡¿¼óÅÔ using a very disciplined approach with the prime µÒ´ÑŪ¤Ê of »ý³¤¹¤ëing value over a one-year period and growing »ñËÜ¡¿¼óÅÔ over the longer ¾Î¤¹¤ë¡¤¸Æ¤Ö¡¿´ü´Ö¡¿ÍѸì. This means they would perceive a loss in line with the market as a ¼ºÇÔ.
Ruffer Åê»ñ Company (¸½ºß¿Ê¹ÔÃæ¤Î ¹ðȯ¡Ê¤¹¤ë¡Ë¡¤¹ðÁʡʤ¹¤ë¡Ë¡¿ÎÁ¶â: 1.07 per cent)
Paul Chilver of Birkett Long
When you come to draw an income from your ǯ¶â Åê»ñ ¿®ÍÑs are an excellent choice.
In part this is because they can smooth their income »Ùʧ¤¤¡Ê³Û¡Ës, meaning some income can be ÊÝ»ý¤¹¤ëd in the ¿®ÍÑ in »öÎã¡¿´µ¼Ô it is needed in ̤Íè when ³ô¼°»Ô¾ìs may be more volatile.
There are many Åê»ñ ¿®ÍÑs »Ùʧ¤¦¡¿Ä¶âing an attractive ¡Ê³ô¼ç¤Ø¤Î¡ËÇÛÅö and my first suggestion is a UK-¾ÇÅÀ¡Ê¤ò¹ç¤ï¤»¤ë¡Ëd Åê»ñ ¿®ÍÑ, Edinburgh Åê»ñ ¿®ÍÑ.
This is a long-standing Åê»ñ ¿®ÍÑ and is now managed by Liontrust ¤Ë°ú¤Â³¤¤¤Æ their ¼èÆÀ¡¿Çã¼ý of Majedie.
A second suggestion would be a Á´À¤³¦¤Î Åê»ñ ¿®ÍÑ, JPMorgan Á´À¤³¦¤Î Growth and Income.
This ¿®ÍÑ has its greatest Éé¤ï¤»¤ëing to US ¸øÀµ¡¤ÉáÄ̳ô¼ç¸¢s and is ¸½ºß¡¿°ìÈÌ¤Ë »Ùʧ¤¦¡¿Ä¶âing a »º¤¹¤ë¡¿À¸¤¸¤ë of 3.4 per cent per an num.
Edinburgh Åê»ñ ¿®ÍÑ (¸½ºß¿Ê¹ÔÃæ¤Î ¹ðȯ¡Ê¤¹¤ë¡Ë¡¤¹ðÁʡʤ¹¤ë¡Ë¡¿ÎÁ¶â: 0.53 per cent)
JPMorgan Á´À¤³¦¤Î Growth and Income - also see above (¸½ºß¿Ê¹ÔÃæ¤Î ¹ðȯ¡Ê¤¹¤ë¡Ë¡¤¹ðÁʡʤ¹¤ë¡Ë¡¿ÎÁ¶â: 0.66 per cent)