Good morning and welcome to your Morning Briefing for Wednesday 9 September, 2020. To get this in your inbox every morning click here.
A steep rise in the number of coronavirus cases has prompted the government to clamp down on social gatherings of more than six people.
From Monday 14 September, larger groups will be banned from meeting socially indoors or outdoors.
Currently police only have powers to stop gatherings which exceed 30 people.
The new rules will not apply to workplaces, schools or other gatherings such as Covid-secure weddings, funerals and organised team sports.
Meanwhile, the company working on developing a coronavirus vaccine, AstraZeneca, has paused the trial after a participant had an adverse reaction.
The company says pausing trials is common during vaccine development.
Fund research
AJ Bell Investcentre has launched a service to help financial advisers complete investment research and due diligence on funds and ETFs.
Fundamentals will provide analysis of both active and passive and the service currently covers 77 funds.
The funds have been selected by AJ Bell’s investment team using the same research process used for the AJ Bell Funds and Managed Portfolio Service that are already used by many advisers.
Stat Attack
Searches by overseas workers for UK jobs have soared to their highest level since December 2018, according to analysis by job site Indeed.
Source: Indeed
Omnis extends relationship with Fidelity
Fidelity International has been appointed manager of the £227m Omnis European Equity Leaders fund with a mandate due to begin on 1 October 2020.
The appointment expands Omnis’ relationship with Fidelity, which currently manages the Omnis Global Emerging Markets Equity Leaders fund and the Omnis Strategic Bond fund.
Quote of the Day
By providing clarity over rules that will govern the UK economy after we take back control of our money and laws, we can increase investment and create new jobs across the United Kingdom, while maintaining our world-leading standards for consumers, workers, food and the environment.
– Business secretary Alok Sharma on a new bill to “protect jobs and trade” across the whole of the UK after the transition period ends, which will be introduced to parliament today
In Other News
Advice network and investment manager Tavistock has appointed Allenby Capital as its nominated adviser and broker with immediate effect, according to a notice published this morning.
As part of the appointment process, the company has identified two additional disclosures that had “been omitted in error”.
These relate to chief executive Brian Raven and non-executive director Roderic Rennison.
The announcement reads: “In April 2007, Brian Raven was a director of Safe-Post Plc when the company underwent a creditors voluntary liquidation which resulted in a deficiency to creditors of £13,779.
“In May 2010, Roderic Rennison was a non-executive director of Home of Choice Group Limited and Home of Choice Limited when both companies went through a ‘pre-pack’ administration process. This resulted in the business and assets of both companies being sold to First Complete Limited with an estimated deficiency to creditors of £5,625,643.”
From elsewhere
How philanthropy benefits the super-rich (The Guardian)
Top UK government lawyer quits over Brexit withdrawal agreement changes (Financial Times)
Nat Rothschild backs rumoured tax on private equity after industry hits out (The Telegraph)
Did You See?
Helm Godfrey chairman and head of editorial strategy at Platforum Danby Bloch talks about the prospect of tax increases after the pandemic and how capital gains tax represents low-hanging fruit.
