5 of the worst investments you can make right now
There’s also the latest personal finance news and a quick update on what we’re doing here at Informed Choice.
Do you agree with me that these are 5 of the worst investments you can make right now? I would love to hear what you think too.
Personal finance news
-New research has revealed the scale of the UK’s lost pensions mountain, which stands at an estimated £19.4bn. The research, carried out on behalf of the Association of British Insurers by the Pensions Policy Institute found 800,000 lost pensions among the firms they represent, around half of the private defined contribution pensions market.
-Pay rose by an average of 3.1% in the three months to August, according to the latest official figures. This represents the fastest pace of pay growth for nearly a decade.
-Fund manager Terry Smith has raised a record £822.5 million with the launch of his new Smithson investment trust. The raise beats a previous record set by Neil Woodford with the launch of his Patient Capital trust in 2015.
-Investment provider Fidelity is launching a new cryptocurrency trading and storage platform. Fidelity Digital Asset Services has been created to provide cryptocurrency custody and trading services for enterprise clients.
-The workings of a new ‘Confirmation of Payee’ service which can reduce the risk of payments being sent to the wrong account have been revealed by Pay.UK, the UK’s leading retail payment authority. Currently, the account name is not checked when sending an electronic payment – and fraudsters have become increasingly sophisticated in using this to trick people into sending money to the wrong account.