Pravda.ru

News » Business

British fund manager urges to hold physical cash

22.06.2015 | Source:

Pravda.Ru

 
British fund manager urges to hold physical cash. Cash
AP Photo

The British chief executive, who disposes of billions of pounds, has warned of surging mortgage debt and advised investors to keep physical cash.

Ian Spreadbury, who is in charge of a British bond fund is concerned that a "systemic event" could rock markets, possibly similar in magnitude to the financial crisis of 2008, which began in Britain with a run on Northern Rock.

"Systemic risk is in the system and as an investor you have to be aware of that," he claimed.

The best strategy to deal with this, he said, was for investors to spread their money widely into different assets, including gold and silver, as well as cash in savings accounts. But he went further, suggesting it was wise to hold some "physical cash", an unusual suggestion from a mainstream fund manager.

Spreadbury also urged that the Financial Services Compensation Scheme is effectively unfunded and a saver is covered up only to £85,000 per bank.

Ian Spreadbury invests more than £4bn of investors' money across a handful of bond funds for Fidelity, including the flagship Moneybuilder Income fund.

Also read: JP Morgan prepares for global war? Unprecedented silver accumulation

Pravda.Ru

Read more on the subject here

 

 







Popular photos


Most popular

Russia develops new prospective aircraft carrier
Russia develops new prospective aircraft carrier
The multi-purpose aircraft carrier will have a total displacement of about 95,000 tons. Its length, width and draft will make up 330×42×11 meters. The width of the flight deck will be 85 meters. The...
Russian Air Force starts receiving PAK FA fifth-generation fighter jets
Russian Air Force starts receiving PAK FA fifth-generation fighter jets
Russian Air Force commander, Lieutenant-General Andrey Yudin said that the Russian airspace forces would receive six fifth-generation T-50 fighters
Рейтинг@Mail.ru Rambler_s_Top100_Service