It’s fair to say that Asset Allocator paid varying degrees of attention to Jeremy Hunt’s Budget yesterday, but our interest was especially piqued by the introduction of the UK Isa after several months of rumours.
The basic premise – to encourage flows into a battered UK stock market – seems innocuous enough, though implementing it in practice looks to pose some real headaches for Treasury bods and the wider investment sector.
Given our fund selecting specialism, we wanted to find out to what extent DFMs are rallying to the government’s call to believe in Britain.
Well, to a certain extent they already do.
Despite the MSCI World only allocating 4 per cent to the UK and the MSCI All Countries World (which of course includes emerging markets) allocating 3 per cent, our allocators are already expressing a strong home bias, Ukisa or no Ukisa (yes, that acronym looks and sounds rubbish – drop us a line if you have better…
