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LETTERS INVESTMENTS KNOWHOW ANALYSIS

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| YEARS OF HAPPY RETURNS Former MoneyObserver editor Andrew Pitts considers whether the easy money era is over | GOLDEN RULES OF INVESTING Certain tried and tested tactics can greatly increase your chances of investment success | WHY CASH FLOW IS CRUCIAL It’s vital that investors understand the importance of cash for a company’s prospects | DON’T STOP LEARNING In this age of relentless change, investors will be rewarded for embracing emergent ideas | GAIN AN EDGE WITH TRUSTS Our eight tips to help investors take full advantage of the benefits of investment trusts | TIDE OF CHANGE NEVER STOPS A wave of financial trends has exerted a powerful effect on investors’ portfolio choices | ACTIVE FUND TIPS Following these six pointers can help ensure your active holdings pull their weight | OBSTACLE COURSE Barriers to market entry can keep rival firms at bay but may attract unwanted attention | KEEP CALM AND CARRY ON Most big market declines teach us that waiting out a market storm is usually best | TRACKER FUND TIPS Passive funds require less due diligence than active funds – but don’t skimp on the research | MULTI MANAGER MASTERY Skilled multi-managers can deploy subtlety and specialist knowledge to unearth value | KEEP YOUR WITS ABOUT YOU We identify some commonplace investment scams and explain how to spot them | GOOD FIRMS AT GREAT PRICES Share Sleuth Richard Beddard sets out his clever system for spotting quality and value | SHREWD TAX TACTICS We round up the best ways to keep your tax liability to an absolute minimum

EDITOR’S COMMENT 7 Middle-aged spreads stand the test of time

EASY MONEY 9 Think tank proposes tax hike on capital gains 10 Investment news: Fund managers fear looming recession 11 A month in the markets 12 Retirement news: Bank of Mum and Dad close to breaking point 13 Companies news: Aim share dividend payments on rise 14 Savings news: Savers suffering as rates are cut back 16 Personal finance news: ‘Discredited’ RPI inflation measure reprieved 17 New investor news: How exchange rates affect your investments

YOUR MONEY 18 Your letters and comments on topical financial matters

GROW MONEY 58 Share Sleuth The Sleuth reflects on 10 years of the portfolio and explains its positioning for the future 60 Share Watch We review the prospects for

Share Sleuth stalwarts Games Workshop and Dart 62 Finger on the pulse

Funds focused on businesses with strong sustainability credentials are gaining momentum

63 Regular income portfolio

How our investment trustfocused portfolio has fared in recent months 65 Global value portfolio New MoneyObserverETF portfolio will pursue value in global markets

ANALYSE MONEY 66 Fund analysis

The outlook for UK property funds is built on less than solid foundations 67 2019 Rated Funds

Full listing, including top performers 69 Fund sector top performers 73 Open-ended fund returns Gains over five timeframes 84 Investment trust analysis Ahead of the Brexit deadline, some fund managers are adopting a bold approach 85 Investment trust returns Gains over five timeframes 89 FTSE Sector Watch Media companies need to plug themselves into a changing industry landscape 91 Share data Total returns for main market and top 200 Aim shares 95 ETF analysis Be wary of dividend-focused ETFs that don’t take account of stock quality 96 Exchange traded products Performance for leading ETPs

FUNNY MONEY 98 Virtual reality augurs a retreat into an unreal fantasy world

ALL ABOUT US AND HOW TO GET IN TOUCH

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WAYS TO BE A BETTER INVESTOR

OCTOBER | £ . | www.moneyobserver.com

M O N E Y

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SPECIAL PAGE ANNIVERSARY ISSUE YEARS OF HAPPY RETURNS

% PROFITSA DECADE OF SUCCESS FOR OUR SHARE SLEUTH PORTFOLIO

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GAIN AN EDGE WITH INVESTMENT TRUSTS

PAGES OF FUND | TRUST | SHARE | ETF DATA

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Editor Faith Glasgow Associate editor Andrew Pitts Deputy editor Kyle Caldwell Staff writer Tom Bailey Web manager Nina Kelly

Specialist contributors Richard Beddard, Fiona Hamilton, Jennifer Hill, Richard Hunter, Ceri Jones, Sylvia Morris, Iain Murray, David Prosser, Cherry Reynard, Hannah Smith Art editor Chris Aldridge Production editor Gary McFarlane Freelance sub-editor David Grove Advertising manager Trevor Leek Head of personal finance Moira O’Neill Moneywise Publishing Limited © 2019 Printer Walstead UK, Cornwall Published on the last Thursday of each month

GET IN TOUCH Editorial Money Observer interactive investor, 8 Devonshire Square, London EC2M 4PL Tel: 020 7680 3600 Email moneyobserver.ed@ moneyobserver.com Web: moneyobserver.com Advertising trevor.leek@ moneyobserver.com Tel: 020 7680 3625 Retail distribution Seymour Distribution 2 East Poultry Avenue, London, EC1A 9PT Tel: 020 7429 4000 www.seymour.co.uk

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DISCLAIMER Money Observer publishes information and ideas which are of interest to investors. It does not provide advice in relation to investments or any other financial matters. Comments published in Money Observer must not be relied upon by readers when they make their investment decisions. Investors who require advice should consult a properly qualified independent adviser. No company within the group of companies of which Money Observer forms a part, and no employee of any such company, accepts any liability for any loss suffered by any reader or user of our websites. The price of shares and investments and the income derived from them can go down as well as up, and investors may not get back the amount they invested. Changes in rates of currency exchange may have an adverse effect on the value, price or income of investments. Statements as to past performance of any investment are not a guide to future performance. The levels and bases of taxation can change, and if you are in doubt you should seek advice from a properly qualified independent adviser. In some cases it may be difficult for you to sell or realise your investment or to obtain reliable information about its value or the extent of the risks to which you are exposed.

MONEYOBSERVER.COM ◆ OCTOBER

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