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A Rose Amongst Mainstream AltFi-Investing Thorns
We revert to a familiar theme: mainstream investment into the alternative finance sector. Our friends at AltFi reports on a rose amongst thorns.Listed fintech VC fund Augmentum Fintech is joining two key FTSE Russell indices on 19 June as it is now counted among the 620 largest-listed companies on the London Stock Exchange.Augmentum will be added to the constituents of the FTSE SmallCap Index, which counts the 351st to the 619th largest-listed LSE companies, and by extension it'll be added to the FTSE AllShare Index."Since our IPO just over two years ago we have built a balanced portfolio of diversified and Our friendssdifferentiated fintech companies," said CEO Tim Levene."Our ambition remains to grow the fund to enable us to continue investing across our portfolio companies, and to seek out other exceptional fintech opportunities in both the UK and the wider European market".In recent months Augmentum's share price has quickly recovered to its pre-coronavirus levels, giving the fund a market capitalisation of around £121m.
Historical Performance And IFISA Process Guide
- Money&Co. lenders have achieved an average return of moreREAD MORE
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Regulatory Rules Need To Change With The Times
These are turbulent times. We note with interest – and approval – the comments from some distinguished operatives in the equity markets. There's a clamour in some quarter for a complete change of attitude on behalf of the regulatory authorities, who have already suspended a controversial rule more fitted to times of low volatility in equity and bond markets.The suspended rule requires wealth managers, under Mifid II legislation, to report a 10 per cent drop in portfolios within 24 hours. It has been shelved until October because of market volatility on the back of the Covid-19 pandemic.The Financial Conduct Authority took the decision suspended the rule at the beginning of April. Leading players in equities, such as Paul Killik, founder of wealth management company Killik & Co., wants the suspension to be indefinite.Killik argues that the rule should be cast aside because it can cause panic among investors during times of high volatility.Below, we reproduce an excerpt from Killik's interview in his company's quarterly magazine:
"To date, nobody has been able to explain to me the sense or logic behind this rule, which merely serves to create more fear in the minds of already anxious retail investors."One of our most important duties as financial advisers is to try to help clients overcome their natural urge to panic in rapidly falling markets. Yet, as one client is reputed to have said "'if you want me to stop panicking then stop sending me these letters'."Whilst it is encouraging that the FCA has granted firms a temporary suspension in 2020, this self-evidently crazy requirement serREAD MORE