Robert Parker

#UK savers struggling to make money should consider Islamic banks

Islamic banks are becoming increasingly popular with non-Muslim savers due to their attractive rates and their ethical principles. In the UK, Islamic banks come under the same governance as high street branches and other private banks, offering the same statutory protections under the Financial Services Compensation Scheme (FSCS). This scheme means savers get their money back if a bank or building society goes bust, although there is a cap of £85,000 per lender. According to Robert Parker, founder of Holborn Assets, with Islamic finance profit schemes, after-tax return needs to be compared between schemes to judge potential before making decisions on return rates alone. Islamic banks offer competitive rates, although savers will have to be prepared to tie up their money for at least a year to access the best deals.

Sedco Capital plans investor forum

Sedco Capital is launching its first annual investor forum for asset allocation. The title of the event is "Alternative Approaches to Asset Allocation — Strategic, Tactical and Dynamic." Its purpose is to underline the dynamic process of establishing an appropriate asset allocation mix, in addition to explaining how this process plays a key role in determining a portfolio's overall risk and return.
Two experts will highlight and introduce the various asset allocation investment options, based on the three alternative approaches to asset allocation, whether it is strategic, tactical or dynamic: Michel Meert, a senior investment consultant at Towers Watson and Robert Parker, a senior adviser to Credit Suisse.

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