Read any article praising income-orientated investment trusts and you’ll hear about their revenue reserves. These reserves, you’ll be told, are a hidden benefit of investment trusts – one reason the so-called dividend heroes have been able to grow their dividend payouts for 20 years or more. The reserves will be compared to a rainy day […]

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What caught my eye this week. The graph of this week’s GDP forecast from the Office for Budget Responsibility looks like something from a comic book: Great Recession? “Pah!” says Covid-19. “Hold my drink…” That’s not an economic projection – that’s the punchline to a three-panel cartoon. Of course the hope is that like a […]

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