Legal & General Share Discussion Threads

[pvb] 01/7/2024 15:49

Bareknee 1 Jul '24 - 14:52 - 6027 of 6029

Ah, I see the thread has turned into a discussion on politics while CWA is away.
Great.

We'll all be given 100 lines when he gets back!

[pvb] 01/7/2024 15:43

888ICB 1 Jul '24 - 13:52 - 6023 of 6028

Could you perhaps provide some specific examples of “Wrecking our society Destroying everything that was worthwhile” that you are holding the conservatives responsible for.

Where to start?!

Remember when GPs and the NHS kinda worked? Remember when, under Tony Blair, the NHS waiting list was at its lowest for years and satisfaction with it was high?

Brexit. Remember when we were in a close trading relationship with our nearest trading neighbours. Now we have trade barriers with them - and we are a trading nation, as we are frequently told.

Osborne's Austerity agenda. What happened to too many things to mention in public services?

Whatever happened to optimism?

One could go on...

[bareknee] 01/7/2024 14:52

Ah, I see the thread has turned into a discussion on politics while CWA is away.
Great.

[jubberjim] 01/7/2024 14:24

Have left a bid on lgen and if given will sell phnx against it

Think either of the orders highly unlikely to be filled but will know in a week or so.

Last and only word on Farago He is a posturing buffoon. And I voted for Brexit


Good luck all sit tight still another week of indecision

[rose_by_another_name] 01/7/2024 14:00

Covid was out of the government's control, but their response was
not. They abandoned existing pandemic planning for an impromptu
set of measures informed by faulty computer models, many of them
based on the assumption that vaccination would prevent spread,
which it did not. Do you remember that masks were first said not
to be useful, then were mandated by law (and later found not to be
effective after all)? Wash your hands while singing happy birthday,
twice? For an air-borne virus? Vaccines mandated for the young, who
were not at risk, and the vaccinated, still able to carry and spread
the virus, given special passports to allow them to travel and
congregate in crowded venues? And the economy, education, and health
of the nation strangled by lockdowns, that did nothing to abate the
pandemic, as comparison with Sweden proved.

Abandoning traditional and legal rights due to "special circumstances"
was a disaster. We must never allow it again, and those who promoted
it and demonized all who spoke against it must be remembered and denied
the reins of power.

[888icb] 01/7/2024 13:52

Could you perhaps provide some specific examples of “Wrecking our society Destroying everything that was worthwhile” that you are holding the conservatives responsible for.

[pvb] 01/7/2024 13:43

...Let the Conservatives carry on the work they have been doing

Wrecking our society? Destroying everything that was worthwhile?

No thanks!

[joe say] 01/7/2024 13:42

The work they have been doing????

That's the issue - they have been an absolute disaster - but no doubt you'll be able to tell us all about how Rishi is getting on against his 5 key pledges

Meanwhile I shall be voting reform

[888icb] 01/7/2024 13:14

A vote for Reform is a vote for Labour or in some parts of the country a vote for the Liberal Democrat’s who are even more socialist than Labour. Starmer is liked by no one including most of the Labour Party. The real Labour Party is Angela Rayner, who you should remember was very close to Jeremy Corbyn. Starmer hasn’t announced any policies of substance because he doesn’t have the power to do so. Labour policy is set by their congress and that is why Angela Rayner was made Deputy Prime Minister because the Labour Party inflicted her on Starmer. One word from Rayner and Dianne Abbot was allowed to stand which was not what Starmer wanted.
Covid and the war in Ukraine were problems that arose completely out of the Government’s control. Covid caused our debt problems and the reason our taxes rose was to deal with that debt and that would have been the same under a Labour Government. The Conservatives would now start to reduce tax but Labour will increase it. Our increase in inflation was caused by interest rate rises which are set by the Bank of England and are out of the Government’s control but will now start to fall. Secondly the war in Ukraine which caused energy prices to go sky high, that was the cause of the rises in prices. Energy costs have been brought down as per the further decrease in you Electricity bill from today. Last week inflation fell to the 2% target and the economy showed greater than expected growth.
Let the Conservatives carry on the work they have been doing by voting for them because a vote for anyone else is a vote for Labour and a socialist Britain with lots of dreadful policies they have yet to tell you about imho.

[alphorn] 01/7/2024 12:53

Spot on regarding stability - very long lead times in setting up new plants or businesses - planning, construction, taxation, workforce without forgetting all the usual stuff like market size and ease of product movement. Today we have anything but stability.

edit: just as relevant to LGen.

[mcunliffe1] 01/7/2024 12:36

Not often we agree thebutler.

For clarity, I intend to vote Reform. I would (did) vote for the Tories except they've been such a shower (being polite here).

I do know of a few who will vote Labour - but they'd vote that way if the candidate was a donkey in Labour colours.

I'm with tornado in respect of stability. Business needs to know what will happen over 5-10, even 15 years and can plan for it. Providing the goalposts aren't moved part way through the cycle.

[thebutler] 01/7/2024 12:05

Agreed. I have no idea where the polls are getting their figures from. I don't know anyone who intends voting labour, and all the tory defectors appear to be favouring reform. Add on predominately asian areas voting for the workers party and I can't see a labour landslide.

[tornado12] 01/7/2024 12:04

I hope we do get a shock and not the Labour MEGA-win the polls are suggesting. The problem with UK politics is lack of stability in policy, and one reason UK remains stagnant in growth for years. If we can keep common sense alive we still have a chance

[dope007] 01/7/2024 11:32

I expect the turnout for this GE will be the highest in a very, very long time, and the left are going to get a shock

[cassini] 01/7/2024 11:19

'Globalist' is the term I'd associate with the FT.

i.e. WEF, Davos, one world government, CBDC's, LSE alumni, Bilderberg etc.

David Rockefeller acolytes (when he was alive).

[alphorn] 01/7/2024 11:04

MC - see my post on SHA.

[mcunliffe1] 01/7/2024 11:00

Let's see if Labour can repair the damage inflicted upon the UK Pension industry by Gordon Brown.

Unfortunately, Reeves will likely see pensions as ripe for picking. As did Brown.

[dope007] 01/7/2024 10:06

Financial Times has been a lefty rag for years now, so them coming out for Labour is nothing new

[tornado12] 01/7/2024 10:05

hxxps://urldefense.com/v3/__hxxps://edition.pagesuite.com/popovers/dynamic_article_popover.aspx?artguid=edfc6e2b-5f49-4d71-a935-bef090bd5d4d__;!!AWBpCeCd!YAhZbiBodb2h14lbPlrpXPzexBgkgE5D2AlpANUh6c8D2gn5tQ9lzWC2y0KvzK4FXaVU4EfBJPgaAbbUJKscnup3Ratftg$


Pension fund opens door to private equity
L&G to invest workplace schemes in illiquid assets
Patrick Hosking - Financial Editor
Millions of employees saving in workplace pension schemes are set to have their money put into illiquid, unlisted assets for the first time with the announcement by Legal & General of a new fund capable of handling billions of pounds.

L&G, which operates workplace pension schemes for employers including Tesco and NatWest, said that its new fund would feed savers’ cash into private equity, private debt and infrastructure — asset classes largely denied to pension savers.

It said the fund would “unlock private market access” for 5.2 million members of modern defined-contribution schemes and would help to meet its Mansion House Compact pledge to put up to 5 per cent of assets in private equity.

The fund will have a substantial bias towards the UK, with an aim of placing 30 per cent to 35 per cent of employees’ savings in British assets, a much higher level of UK exposure than the weighting of as low as 4 per cent in conventional listed share portfolios.

L&G said that the ambition of the fund, to be called the L&G Private Markets Access Fund, was to attract £500 million of savers’ money by the end of this year, £1 billion to £2 billion by the end of 2025 and then to “grow exponentially from then on”. Pension schemes run by London Stock Exchange Group and EDF, the French energy company, have already expressed an interest, while dozens more are potential customers, including L&G’s own staff pension scheme.

L&G is one of the biggest so-called master trusts, used by employers autoenrolling staff into pension saving. It also operates single company schemes.

Other employers using L&G for staff pensions include Marks & Spencer, Kingfisher and Greggs.

Rita Butler-Jones, head of definedcontribution pensions at L&G, said: “We’ve seen a very strong appetite across employers we’ve spoken with.”

She added that the move was “a significant milestone for UK pensions” and “a game-changer for DC pensions”.
Until now, high fees and the illiquidity of unlisted shares and other private assets have deterred many definedcontribution pension schemes from shifting members’ money into such hard-to-value assets. Investment consultants say savers could be missing out because these assets generally have produced higher returns in the long run than listed securities and so in theory could deliver larger pension incomes.

Nest, the government-backed pension scheme for auto-enrolled employees, has put the pensions of most of its 13 million members into some private assets by embedding the asset class into its default investment mix. The L&G approach is understood to be the first to use a separate fund capable of being dramatically increased.

The Treasury has said that a 5 per cent allocation to private equity could boost the nation’s pension incomes by up to 12 percentage points, a claim met with scepticism by many experts

[fegger] 01/7/2024 09:30

FT article unlocked here hxxps://archive.is/LNEK1

[netcurtains] 01/7/2024 09:19

Big boost to EU and UK stockmarkets today as the financial times comes out in support for Labour