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BlackRock Energy and Resources Income Trust Plc

BlackRock Energy and Resources Income Trust Plc
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Baillie Gifford funds swept up in China tech sell-off

Baillie Gifford funds swept up in China tech sell-off Scottish Mortgage, which holds around one fifth in Chinese stocks, fell 4% on Tuesday, while Baillie Gifford China Growth dived 6% Baillie Gifford’s big bets on China have come back to bite the Edinburgh manager as the government’s latest crackdown on the education sector has prompted investors to flee.  Over the weekend Beijing introduced sweeping rule changes to China’s $100bn private tutoring industry, barring businesses from turning a profit, listing on stock exchanges worldwide and accepting foreign investment.  The announcement wiped billions off the market value of New York-listed Chinese education companies New Oriental Education and TAL Education and stoked fears of further regulatory intervention.

FCA must offer more guidance on future Priips performance narratives

FCA must offer more guidance on future Priips performance narratives ‘Investment companies are still at a disadvantage in having to produce these toxic disclosures’ The Financial Conduct Authority (FCA) must offer more guidance on the planned Priips changes that will see performance scenarios swapped for text, so consumers can effectively compare products. Earlier this month the FCA proposed a raft of changes to Priips regulation that, among other things, would see “misleading” performance scenarios amended to instead show a written explanation of factors that could affect future performance of the product in the key information document (Kid). The watchdog said changes to the regime would “provide more clarity to consumers” in terms of what Priips products are, the risk they present, and information to help understand their likely future performance.

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