The lead story in the November 1986 edition of Money Management was Sir Kenneth Berrill, former chief of the Securities and Investment Board (Sib) supporting the new proposals to set up an industry-wide compensation scheme. This was set up in 1987 as the Sib compensation scheme, and was later replaced by the Financial Services Compensation Scheme (FSCS)
The month’s cover feature was about timeshare property. Property is still a hot topic of investor conversation 27 years on, check back to Money Management in December for a feature on commercial property.
In the news briefing section of the magazine, a journalist wrote, “There is seemingly no end to the number of unit trust launches.” It must have been a sign of the times to come.
A copy of Money Management back in November 1986 would have set you back a whopping £2.75 (our price has gone up more than 160 per cent in 27 years). The statistics took up 65 pages, today it is on average 91 pages – in a much smaller font and page size. Today, there are new sections such as investment trusts and pension funds, but long gone are 1986’s building society rates.
Annuity rates for a 65-year-old male in 1987 was £1503.60 from Standard Life. Today, an enhanced annuity is £712.00 for a 65-year-old person. Both purchase prices of £10,000.
In other news…
On the day senior staff writer Charlotte Richards was born (12 November, for anyone asking), the classic power ballad ‘Take My Breath Away’ by Berlin was the number one single.
On 13 November, US President Ronald Reagan confessed he had sold weapons to Iran.
On 29 November, North by Northwest actor Cary Grant died aged 82.
