Breach of fiduciary duty

Each year a fresh Lord Mayor of London is appointed. This year's officeholder has scratched around for a suitable topic. The result is the Mansions House Accord where the Lord Mayor has assembled 17 pension fund management concerns to persuade them to sign a push for an increased application of funds under their control to subscribe for British equities and where some of them are not even listed. My advice to those who have entrusted their pension pot to such a fund manager is to hold back from leaving a penny under such controls.

The fact is that a pension fund manager has a fiduciary duty to do his best for the beneficial owners of the fund under his management. It follows that if some fixed percentage is compulsively applied his capacity to think clearly is reduced. The fact that Rachel Reeves who is presiding over the government's involvement thinks this breach is desirable should warn all prospective pensioners to clear out as soon ss economically possible. This is not easy since the costs of disengaging are probably considerable.

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Separately, I mention that Starmer's idea to control immigration by denying asylum seekers entry to British citizenship by insisting on an adequate clarity of use of English is barmy. After all, who is to judge the performance of the asylum seeker in this regard and how can it be sensible when at least half the natives of Britain cannot speak English - and as for writing it, GIVE ME STRENGTH.