Your IndustryNov 20 2015

Back in the Day: October 2000

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Back in the Day: October 2000

Today we take a trip down the memory lane to Money Management’s October 2000 issue. The cover story looked into fund supermarkets and if they are the future of investments. It focused on the claim from fund supermarkets that they will revolutionise the use of the internet. They were clearly right.

At the time of the feature, there were close to 20 functional fund supermarkets in the UK, but finding the right channel remained a challenge for IFAs. The feature suggests that of the supermarkets targeting the mainstream retail fund business, only Fidelity FundsNetwork and Skandia’s collaboration with IFA network DBS, Multifundshop, had a live channel for IFAs.

Sticking with MM tradition, the magazine also carried three surveys. The first of which was looking through funds to find where to invest for maximum growth. The survey pointed out the effect of investing in a range of products such as investment trusts, unit trusts, life funds and the FTSE 100 and FTSE All Share over various time periods.

The second survey focused on investment-linked annuities and details their maximum anticipated bonus rate, minimum investment and IFA commission. It suggested that while these may be more risky as they are linked to equities rather than gilts, there are potential rewards for those who are willing to take this risk.

The third survey is an MM classic, on the financial strength of with-profit offices and the state of the market. Spread over 17 pages, analysed the trends and performances of these companies. The survey acknowledges there were numerous threats facing the market, but that it had weathered many storms before. But popularity for with-profits has remarkably diminished since 2000.

Other events in October 2000:

1 October – Against All Odds by Mariah Carey and Westlife was at the top of official singles chart

11 October – The 100th Space Shuttle mission (STS-92) is flown

22 October – 51st Formula One WDC: Michael Schumacher wins by 19 points

26 October – NY Yankees defeat NY Mets 4-1 to win their 3rd straight World Series championship

More Back in the Day:

October 1985

September 2000

November 1996