Looking to 1986, the April issue of Money Management looks at investing in futures, portfolio management services, permanent health insurance, and surviving redundancy.
The cover story was “Trading places: Investing in futures”. The feature talks about how investors should not dismiss futures as “some slightly shady business of little relative importance which just happens to have attracted media attention by virtue of its traders’ brightly coloured jackets and loud way of dealing”, as the Chicago futures markets alone had a daily volume 2,000 per cent greater than the London Stock Exchange.
British conservatism was cited as a major reason behind the relative lack of success in creating interest in futures, both on the part of fund managers and corporate treasurers. The feature went on to predict that international links between futures exchanges would grow and that round-the-clock global dealing was not far off.
Elsewhere, the comment piece by MM’s former editor Peter Gartland discusses the political dimension of financial services. He pointed to City scandals, mega-pay packets and disclosure of life assurance commissions as three of the subjects then exercising the minds of politicians and financial leaders. Mr Gartland said that it was clear that, however the lawmakers would dress it up, the Securities and Investment Board would be a British version of America’s Securities and Exchange Commission.
Annuity rates for a 65-year-old male in April 1986 was £1,557.50 from Equitable Life with a purchase price of £10,000. And a copy of Money Management would have set you back £2.50.
In other news…
The number one single on the music charts at the beginning of April 1986 was “Rock Me Amadeus” by Falco, and “Police Academy 3: Back In Training” was at the top of the box office.
The Chernobyl disaster occurred in April 1986 when the power plant, which was under the direct jurisdiction of the central authorities of the Soviet Union at the time, exploded and released large quantities of radioactive particles over much of the western USSR and Europe. The incident has been called the worst nuclear power plant accident in history in terms of cost and casualties.
Concerns were raised when world oil prices dipped below US$10 per barrel, and the US launched operation El Dorado Canyon against Libya.
