Investment funds pools the capital of many individual investors to invest in one or more types of underlying financial securities. In the UK, investment funds are either open-ended investments companies (‘OEICs’) or Unit Trusts. Investment funds typically hold shares (which…
Every year, UK- based investors benefit from a capital gains tax (‘CGT’) allowance. This allowance means that up to a certain value (£12,300 in the 2020/21 tax year), UK individuals do not pay any capital gains tax on any profit…
If “the world is on fire”, as Greta Thunberg recently suggested, then our banking and financial system is helping to fan the flames. This is why 101 leading influencers from across finance, civil society and academia have signed a letter…
It is expensive to be poor. Millions of us are being ripped off by a system designed to trap people into an unmanageable spiral of debt. Banks, rent-to-own, payday and doorstep loan companies are all getting rich off the back…
In recent years, benign global liquidity conditions and a low interest rate environment in advanced economies have contributed to increased interest among investors in emerging market sovereign debt markets. Local currency bond markets in emerging markets swelled in size following…
Are recent payment innovations accelerating the move to a cashless society? Our study presents causal evidence from the staggered introduction of contactless debit cards by a retail bank. We find that access to the contactless payment technology causes a sizable increase…
Equitable access to financial services: A policy prerogative Fair and equitable access to financial services is a prerequisite for economic security and prosperity. It can improve individuals’ employment outcomes, wealth accumulation, and propensity to start a business. Yet, women all…