Welcome to the Corrigans web site.

What an interesting year 2009 has turned out to be. Having hit a low point in October last year global stock markets made a valiant attempt at a revival only to hit rock bottom on 5th March. Since then most funds are up by 20% or more with emerging markets up by as much as 75%.

For what seems like years you have heard from us the mantra that "no-where else in the world is in better financial shape than the UK, so keep your investments here". Well that is no longer 100% true. China is in better financial shape, largely because they are sitting on most of the cash reserves for the world, but loyalty to the UK has been handsomely rewarded this year. As a Sterling investor the FTSE All Share index rose by 24.7% between 1st January and 30th November. If you had followed the FTSE Eurofirst 300 the rise was just 16.7% and the S&P 500 in America delivered a pitiful 8.7%. Towards the end of 2010 or early in 2011 international currencies are expected to return to their more customary trading relationships - political ineptitude permitting - and that will mark the moment to change from the current advice which is to stick largely to the UK.

As the end of the decade is upon us we can reflect upon how it has been for us all. Ten years ago it was common to find investors sticking pins into a newspaper to gamble on another dot.com stock or simply making arrangements to see whether the millenium bug will have given them January off. The FTSE 100 was on the cusp of 7,000 and the yield on Undated War Loan Gilts was 4.9%. Since then our government has made more progress with inflation and so the yield has eased back to 4.5%. What this means is that investments with no risk at all earned 4.5% per year before tax during the Noughties.

There is nothing to suggest any substantial change in this economic outlook for the coming Teenies and so a well diversified, multi-asset portfolio should be expected to deliver 7% per annum on average. This gives not only the risk-free return but also some compensation for the volatility or risk that you are taking.

Now if all this came to pass you would double your money by 2020 and it will have grown in its purchasing power but, as Chris Tarrant might have said, you don't want that! Human impatience and passion have an adverse effect upon investment decisions and some of you will want to double your money by next Christmas or even the end of the tax-year. Whatever you want the guidance is clear. Talk and listen to Corrigans. Understand the chances of failure and success as well as the real cost or benefit and think about it. Only proceed when you are comfortable and then keep talking and listening to Corrigans.      

The story about Personal Accounts (or the National Savings Pension Scheme to give it its full name) becomes clearer, if not more attractive, each month. There is an update on the latest news in 'Frank Talking' which can be found under the 'about us' tab above .  

On the insurance side there are two topics that you might have missed but need your attention. 

The first of these was the implementation of the Health & Safety (Offences) Act in January which has the affect that all employees - including directors and managers - who ignore Health & Safety rules may be sentenced to prison WHETHER OR NOT AN INCIDENT PROVES FATAL. Please talk to Corrigans about managing your Health & Safety risks and also protecting you and your business with a Directors and Officers Liability policy against the additional risks faced because they are not covered by the usual Employers & Public Liability policies.

Under the fabulous title of The Energy Performance of Buildings Directive our rulers are laying down parameters that must be followed in order to help the UK achieve its commitments under the Kyoto Protocol. Whilst manufacturers may think that their exclusion gets them off the hook the Directive applies to the office and canteen facilities, so no-one is safe! In essence an Energy Performance Certificate is required whenever a commercial building is sold, leased or built and the Certificate has to be renewed at 5 yearly intervals. Getting the Certificate may be considered irritating and a needless minor expense, but that is just the start. Improvements to the energy efficiency of the building may become very expensive indeed but will lead to a better sale or lease value and easier disposal. Ongoing Statutory inspections will be a recurring cost and you may prefer to use the same independent specialist to inspect other Non-Statutory items to give you a consistent report on the overall energy performance. Please talk to Corrigans for help in planning your approach to this Directive and in finding the most appropriate inspection authority for you.    


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