It has been
reported in the FT “BlackRock has won a mandate to manage £30bn of the £109bn Lloyds Banking Group portfolio put up for grabs after the bank this year said it would drop current manager Standard Life Aberdeen. The remaining £80bn of assets are still up for grabs, Lloyds said.”
This story is not all about Lloyds as what happens at Lloyds happens in so many other institutions. In this case, Lloyds Bank is delegating their investment management. Part of the mandate has been agreed with BlackRock, the biggest fund manager in the world. Here’s the question. If you have investments with Lloyds Bank, why do you need Lloyds Bank? They are taking a cut out of your money for someone else to manage your money. Ever thought of going direct instead? Have you really sat down and analysed what you are paying for?
Have a look at your own investments with other banks. Who actually manages your money? Are their too many layers of people all taking a cut from your money?
The best answer is to look into doing it yourself. You can achieve much more than giving your money to the likes of Lloyds Bank and others.
As for the photo. It’s all too easy when you invest to forget to ask simple questions. Like not seeing the wood for the trees! What are you paying these investment managers to do for you? Have you really drilled down on this question?
