Professional Documents
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2020 Spring - Wealth
2020 Spring - Wealth
www.axlefinance.co.uk
www.FamilyWillCompany.co.uk
Your Window on In the current climate, there is uncertainty in all of our lives
with both health and financial concerns. However, while
The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future
performance and past performance may not necessarily be repeated.
The value of investments can go down as well as up and you may not get back the full amount you invested.
The past is not a guide to future performance and past performance may not necessarily be repeated.
2
Spring 2020
Women
and pensions
Data from the 15th annual Women and
Retirement Report3 suggests an increasing
proportion of women are prepared for
retirement, although it also highlights a
continuing disparity in levels of pension
savings compared to men.
The value of investments can go down as well as up and you may not get back the full amount you invested.
The past is not a guide to future performance and past performance may not necessarily be repeated.
3
Your Window on Wealth | Spring 2020
WHAT IS A MEGATREND?
Global megatrends are sustained,
macroeconomic, transformative
developments, that may alter the
trajectory of the economy, business,
from the COVID–19 outbreak is likely to some support to the global economy.
dent hopes of an imminent meaningful Policymakers are also introducing other
recovery. measures designed to foster recovery; in WHAT MAKES A PHILANTHROPIST?
December, for example, Japan announced
2019 bows out on a low a $120bn stimulus package to shore up its It can be tricky to pin down precisely
Fourth quarter GDP data painted a bleak ailing economy. what qualifies as philanthropy. Basically,
picture of the global economy at the turn it’s an active desire to promote the
of the year. In the UK, for instance, the But COVID–19 will hamper recovery welfare of others, often expressed by
economy stagnated with no growth at The economic problems caused by the giving generously to charities or other
all, while the German economy barely outbreak look set to hinder efforts to deserving causes. If we count dropping
registered any growth, and the French boost growth. While producing reliable some of our loose change into a collection
and Italian economies both shrank. Japan estimates of the likely impact of the box now and then or giving £3 a month
performed even more woefully, with outbreak is extremely difficult, economists by direct debit, most of us could regard
the economy contracting sharply in the suggest China is facing a short-lived ourselves as philanthropists.
fourth quarter. but potentially sharp economic shock.
So, how important is the scale of giving?
Given China’s significance on the global
The US and China did perform more To qualify as a true philanthropist, your
economic stage this, as well as the scale of giving probably does need to be
strongly, posting identical growth rates continuing spread of the disease, will outstanding. At the high end of global
during the final three months of 2019 undoubtedly have implications for growth philanthropy come billionaires such
to those recorded during the preceding across the rest of the world. as Microsoft’s Bill and Melinda Gates,
quarter. However, even in these two
whose charitable foundation aims to
countries, the data confirmed a broader enhance healthcare and reduce severe
overall trend towards decelerating poverty worldwide. On the other hand,
growth rates. if philanthropy is measured in terms of
self-sacrifice, a small monthly donation by
someone of modest means could also be
The value of investments can go down as well as up and you may not get back the full amount deemed generous.
you invested. The past is not a guide to future performance and past performance may not
Between the two extremes of the
necessarily be repeated. spectrum, are acts of philanthropy on many
levels. To assist would-be philanthropists,
various UK counties have their own
community foundations. Individual
It is important to take professional advice is not a guide to future performance and benefactors and entities, inspired by the
before making any decision relating to past performance may not necessarily work of the great philanthropic families of
your personal finances. Information within be repeated. If you withdraw from an the past, such as Cadbury, Rowntree and
this newsletter is based on our current investment in the early years, you may
Rathbone, need to plan their benevolence
understanding of taxation and can be not get back the full amount you invested.
carefully and take advice about its effect
subject to change in future. It does not Changes in the rates of exchange may
provide individual tailored investment have an adverse effect on the value upon their wider financial affairs.
advice and is for guidance only. Some rules or price of an investment in sterling
may vary in different parts of the UK; terms if it is denominated in a foreign
please ask for details. We cannot assume currency. Taxation depends on individual IF YOU WOULD
legal liability for any errors or omissions circumstances as well as tax law and
it might contain. Levels and bases of, and HMRC practice which can change. LIKE ADVICE OR
reliefs from, taxation are those currently INFORMATION
applying or proposed and are subject The information contained within this
to change; their value depends on the newsletter is for information only purposes ON ANY OF THE
individual circumstances of the investor. and does not constitute financial advice. AREAS HIGHLIGHTED
The purpose of this newsletter is to provide IN THIS NEWSLETTER,
The value of investments can go down technical and general guidance and
should not be interpreted as a personal PLEASE GET IN TOUCH.
4 as well as up and you may not get back
the full amount you invested. The past recommendation or advice.
SPRING 2020 E&W