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Back in the day: February 1980

Back in the day: February 1980

This week we throw back to February 1980 issue of Money Management, which featured an article about castles in Spain on the cover, as well as management group performance and tips for writing a will.

The main cover story looked at what Britons would need to know before buying a house in Spain. Exchange controls had recently been lifted in June 1979, making the prospect of a move to warmer climes more accessible than ever. The reporter estimated that a two-bedroom villa near the sea, fully furnished would cost around £25,000 and would experience capital appreciation over time of about 15 to 20 per cent pa. This was prior to the full formation of the EU and before the Spanish economy took a downturn, so those looking to buy something similar today should expect to pay much more and would not likely experience such high returns.

The issue also featured an article that pinpointed the management groups that produced the most consistent performance over the whole range of their funds in 1979. Sun Alliance was one of the top performers overall, with 83.3 per cent of funds returning above the median. Vanbrugh, Merchant Investors, and Manlike also performed well above the median.

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The cheekily titled article “Where there’s a will, there’s a way” looked at what individuals need to keep in mind when writing their will. Factors that needed to be considered included estate duty exemptions, capital transfer tax regulations (the precursor to IHT), taxation advantages, and, of course, recommended seeking professional financial advice to double check that all affairs are in order should the worst happen.

In other news…

Justin Trudeau was elected to be prime minister of Canada this week, and February 1980 was the last election that saw his father, Pierre Trudeau, elected as leader. Pierre held the post until 1984, when he retired and was replaced by fellow Liberal John Turner.

The winter olympics opened in Lake Placid, New York, during which the US ice hockey team defeated the Soviet Union in the semi-finals, dubbed “the miracle on ice”.

The top single on the charts was “Coward of the county” by Kenny Rodgers, and “Kramer vs. Kramer” was the top box office film and received five Academy Awards that year.

More Back in the Day:

October 1985

September 2000

November 1996