THE INVESTOR
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summer 2014
ANALYSIS
04 News
The latest economic news, including
Britain’s pension revolution, the
strength of global stocks and a
possible interest rate rise for the UK
06 Going down in the world
With prices remaining flat, we
examine whether Europe is heading
for a period of deflation
09 Cloud control
How software technology is changing
the way consumers access data and
improving the outlook of businesses
12 The flexible tools
Ian Cowie on the new ISA and
pension rules and why investors should
take advantage of the opportunities
16 Medical marvels
A number of recent positive indicators
suggest that Big Pharma is back
INTERVIEWS
14 Back from the brink
The BBC’s Andrew Marr talks about
his 30-year career in journalism
and his fight back to fitness after
a debilitating stroke in 2013
18 Family fortune
‘It’s been a very steep learning curve’
– Charles Marsden-Smedley on
heading the world’s oldest textile
factory and designing for royalty
IN YOUR INTEREST
20 Credit to the family
If your goal is to leave a lasting legacy
for your wealth then the time to start
planning is now
THE INVESTOR CENTRE
22 Viewpoint
Neil Woodford of Woodford
Investment Management talks
about his new business
24 Unit trust Portfolios
Latest Growth & Income Portfolio data
26 Fund manager commentaries
Fund managers share their thoughts
38 Final word
Ajay Krishnan and Roger Edgley from
Wasatch Advisors
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All facts and statistics in this issue of
The Investor
are correct at the time of goin
g
to press. Cover image: Getty Images
The information contained within this edition of
The Investor
does not constitute investment advice. It is not intended to state, indicate or
imply that current or past results are indicative of future results or expectations. Full advice should be taken to evaluate risks, consequences
and suitability of any prospective fund or investment.The value of an investment with St. James’s Place will be directly linked to the
performance of the funds selected and may fall as well as rise.You may get back less than the amount invested.Where favourable tax
treatments are shown, please note that these are subject to changes in legislation and dependent on individual circumstances.Where the
opinions of third parties are offered, these may not necessarily reflect those of St. James’s Place.
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