Deputy collectives editor at interactive investor. Opinions my own
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Articles by Sam Benstead
Italien 90 - Vier Wochen verändern die Welt
Fernsehen NDR Talk Show heute: Oliver Mommsen, Sonya Kraus und Oliver Kalkofe zu Gast Wer ist heute in der „NDR Talk Show“ zu Gast? Am Freitag, 13. Februar 2026, begrüßen Bettina Tietjen und Steven Gätjen eine vielseitige Runde in Hamburg – von „Tatort“-Stars über eine Paralympics-Goldmedaillengewinnerin bis hin zu einer KI-Expertin.
Sustainable Investing Ideas - interactive investor
Invest to reflect your personal values, for a monthly flat fee. Our impartial insight can help you make the right choice for you. Please remember, investment value can go up or down and you could get back less than you invest. The value of international investments may be affected by currency fluctuations which might reduce their value in sterling. Investing for good is not just straightforward with ii, it is ACE.
Bond Watch: key gilt matures next week - what to do next
Welcome to interactive investor’s ‘Bond Watch’ series, covering the latest market and economic news – as well as analysis – that is relevant to bond investors. Our goal is to make the notoriously complicated world of bond investing simpler, by analysing the week’s most important news and distilling it into a short, useful and accessible article for DIY investors.
Why fund managers have turned even more bullish
With stocks near all-time highs, and inflation gradually returning to target, it is no wonder fund managers are feeling bullish. Bank of America’s latest survey of professional investors found that they were at their most optimistic on the outlook for markets since January 2022, with the April poll showing the largest jump in optimism about global economic growth in nearly four years.
Where ISA early birds have invested their cash
The first week of the new ISA allowance always sees a flurry of investment activity, as investors take advantage of the new £20,000 allowance. In fact, half of interactive investor’s customers contributing to their ISA in the first two days of the new tax year had already used their full £20,000 annual allowance.
Discount Delver: the 10 cheapest trusts on 12 April 2024
Investment trusts, due to their closed-ended structure, offer investors the chance of picking up a potential bargain. Such an opportunity arises when a trust’s share price is lower than the underlying investments held by the trust (the net asset value, or NAV). However, a trust trading on a discount to NAV is not necessarily a buying opportunity. There’s likely a good reason why the trust is cheap, such as subdued short- or long-term performance, or poor investor sentiment towards how it invests.
Bond Watch: rising US inflation means fewer rate cuts
Welcome to interactive investor’s ‘Bond Watch’ series, covering the latest market and economic news – as well as analysis – that is relevant to bond investors. Our goal is to make the notoriously complicated world of bond investing simpler, by analysing the week’s most important news and distilling it into a short, useful and accessible article for DIY investors.
Articles by Sam Benstead
Sam is our deputy collectives editor, writing news and analysis on funds and ETFs, and interviewing fund managers on camera and for our On the Money podcast. He joined ii from The Telegraph and has also worked at Citywire, a specialist financial publication. Sam is our deputy collectives editor, writing news and analysis on funds and ETFs, and interviewing fund managers on camera and for our On the Money podcast.
Gold’s hitting new highs - why it’s rising and how to invest in it
The price of gold has risen to more than $2,330 (£1,833), a 13% increase so far this year. Accounting for currency changes, sterling investors in gold are up around 15%, as a slightly weaker pound has increased the amount that gold, which is priced in US dollars, is worth for UK investors. Invest with ii: Share Dealing with ii | Open a Stocks & Shares ISA | Our Investment Accounts But the reasons for the ongoing rise are not straightforward. The gold price generally moves on interest rate changes.
India’s election begins next week - how will it impact markets?
Nearly one billion people will begin the world’s largest democratic process next week, as India goes to the polls. With results announced in early June and voting starting on 19 April, investors will be closely watching how this may impact the country’s stock market, which has been a star performer recently.
Benstead on Bonds: these lower-risk funds are best income opportunity
In the world of fixed income, bonds with longer timelines until maturity generally yield more. This is to compensate investors for the added inflation risk and default risk due to a longer lending period. Invest with ii: How Bonds & Gilts work | Tax Rules for Bonds & Gilts | Open a SIPP Longer bonds also have higher “duration”, which is the sensitivity to interest rates, meaning that investors owning a portfolio of longer-dated bonds can see big swings in their value due to interest rate changes.
Stock secrets of high-yielding UK income funds
Dividends paid by companies are a great way to take money out of a portfolio without selling shares, with the UK market offering one of the most attractive yields in the world. One way of looking for inspiration is to follow what the highest-yielding UK Equity Income funds are investing in. Here, professional fund managers and their team of analysts select what they believe are the best opportunities as part of a portfolio for dividend hunters.
Bond Watch: the gilt attracting more cash than any other investment
Welcome to interactive investor’s ‘Bond Watch’ series, covering the latest market and economic news – as well as analysis – that is relevant to bond investors. Our goal is to make the notoriously complicated world of bond investing simpler, by analysing the week’s most important news and distilling it into a short, useful and accessible article for DIY investors.
Ask ii: what is an activist investor and how will Scottish Mortgage be impacted?
A reader asks: “I’ve seen that an American investor, Elliott Management, has taken a 5% position in Scottish Mortgage.
Top 10 most-purchased ETFs in March 2024
An exchange-traded fund (ETF) investing in semiconductor stocks was the biggest mover last month, rising from 10th to fifth place. VanEck Semiconductor ETF owns companies globally that are involved in the computer-chip supply chain, from manufacturing to designing. Chips are the brains behind computers and are used to power artificial intelligence (AI) algorithms. This has led to a huge increase in demand, and plenty of profit for companies involved.
Four last-minute and early-bird investment trust bargains for your ISA
With just days to go before the 6 April ISA deadline, after which the £20,000 allowance restarts, there is still time to add some new ideas to your portfolio. Alternatively, if you are reading this article after the deadline has passed, you have a whole new allowance to take advantage of.
Bond Watch: the low-risk, high-yield bond funds
Welcome to interactive investor’s ‘Bond Watch’ series, covering the latest market and economic news – as well as analysis – that is relevant to bond investors. Our goal is to make the notoriously complicated world of bond investing simpler, by analysing the week’s most important news and distilling it into a short, useful and accessible article for DIY investors.
Discount Delver: the 10 cheapest trusts on 28 March 2024
Investment trusts, due to their closed-ended structure, offer investors the chance of picking up a potential bargain. Such an opportunity arises when a trust’s share price is lower than the underlying investments held by the trust (the net asset value, or NAV). However, a trust trading on a discount to NAV is not necessarily a buying opportunity. There’s likely a good reason why the trust is cheap, such as subdued short- or long-term performance, or poor investor sentiment towards how it invests.
Five ways fund investors can get Warren Buffett in their ISA
Legendary investor Warren Buffett is known for bold bets on “wonderful” companies – those firms that have a moat around their businesses, such as a strong brand, coupled with steady growth, and all at a reasonable valuation. Investors could look for companies that fit his strict criteria (here five professional stock pickers selected UK firms that Buffett might buy), or they can even own a collective investment that picks shares based on the traits Buffett looks for.
Bond Watch: Bank inches closer to rate cuts with three expected in 2024
Welcome to interactive investor’s ‘Bond Watch’ series, covering the latest market and economic news – as well as analysis – that is relevant to bond investors. Our goal is to make the notoriously complicated world of bond investing simpler, by analysing the week’s most important news and distilling it into a short, useful and accessible article for DIY investors.
Fund manager optimism suggests market rally has further to run
Sentiment among professional investors continues to improve, as inflation keeps falling and recession risk dissipates. Bank of America’s March global fund manager survey of investors with more than $500 billion (£393 billion) found that optimism was at the most bullish level since January 2022.
Pros name five UK shares Warren Buffett might put in his ISA
Warren Buffett has proven over a 70-year career that he is a master stock picker. He started out buying cheap “value” shares but pivoted to focusing on established “quality” companies, such as Coca-Cola and American Express. He looks to buy what he calls “wonderful” businesses that are underpriced. No investment represents this better than buying Apple Inc (NASDAQ:AAPL) in 2016 when its shares were under pressure, trading at just 11 times earnings.
Terry Smith on why Fundsmith Equity has underperformed for three years
Fundsmith Equity, managed by Terry Smith, has underperformed its benchmark for three calendar years in a row. In 2023, his global equity fund returned 12.4%, which was below the 16.8% return for the MSCI World index, a measure of performance for developed world equities. Invest with ii: Open an ISA | ISA Investment Ideas | ISA Offers & Cashback In 2022, Fundsmith Equity fell 13.8% and the market fell 7.8%. In 2021, Smith returned only slightly less than his benchmark, at 22.1% versus 22.9%.
Bond Watch: the most-popular gilts and their yields right now
Welcome to interactive investor’s ‘Bond Watch’ series, covering the latest market and economic news – as well as analysis – that is relevant to bond investors. Our goal is to make the notoriously complicated world of bond investing simpler, by analysing the week’s most important news and distilling it into a short, useful and accessible article for DIY investors.
Benstead on Bonds: why gilt auction access is a win for small investors
A key barrier to fixed income investing for DIY investors has been broken down. Last month interactive investor customers were invited to take part in the auction of a UK government bond, known as a gilt. Crucially, DIY investors were given commission-free access to the new issue at the same yield as large investors for the very first time. They will be invited to participate in future auctions as well.
Technology underweight hurts F&C
Global investment trust F&C underperformed its benchmark in 2023, with its caution around Big Tech valuations proving a drag on performance. Shares in the trust rose 8.1% last year. The net asset value of the strategy rose 11.3% compared with a 15.1% return for the FTSE All-World Total Return index. Share price underperformance verses the index was exacerbated by the discount widening from 3% to 5.9%.
Nvidia and Scottish Mortgage made me an ISA millionaire, but now I back these funds too
The journey to ISA millionaire status for John (not his real name) began early. Now in his 70s, he has strong childhood memories of his father being a “gambler” and into horse racing. He introduced investing to him when he was at school.
Bond Watch: two takeaways from how bond markets barely moved after Budget 2024
Welcome to interactive investor’s ‘Bond Watch’ series, covering the latest market and economic news – as well as analysis – that is relevant to bond investors. Our goal is to make the notoriously complicated world of bond investing simpler, by analysing the week’s most important news and distilling it into a short, useful and accessible article for DIY investors.
Shares winning from this ‘unstoppable’ mega-trend
Sam Benstead sits down with Polar Capital Smart Energy manager Thiemo Lang to discuss the opportunities arising from the transition to a clean energy economy. He speaks about the driving forces behind the transition to clean energy, including politics, and the compelling economic case for renewable energy, and also shares his view on clean power adoption in India and China. Polar Capital Smart Energy is a member of ii’s ACE 40 list of recommended sustainable funds.
Investing in under-the-radar clean energy winners
Sam Benstead sits down with Polar Capital Smart Energy manager Thiemo Lang to discuss the opportunities arising from the transition to a clean energy economy. Lang explains how he breaks up the market, including clean power generators and energy conversion/storage firms. He goes into depth on opportunities from electrification and artificial intelligence, and why solar power is his standout clean power source.
Smithson backtracks on continuation vote snub
Smithson, the small and mid-sized companies investment trust from Terry Smith’s investment manager Fundsmith, will now hold a continuation vote at its next annual general meeting, scheduled for 25 April 2024. The board has delivered a screeching U-turn after initially saying that a continuation vote would not be necessary, with chair Diana Dyer Bartlett arguing that the high discount predominantly reflected broader market condition and the trust’s discount was lower than the average of its peers.
‘I made £80K on an AIM share’ - how an ISA millionaire’s portfolio evolved
Nearly a year ago, we heard how a 58-year old (now 59) painter built a £1 million ISA pot. Over 30 years, the investor, who wishes to remain anonymous, stuck to his guns and continued to invest even during market downturns. In fact, he saw market drops as the opportune time to add more money to his ISA. He backed global investment trusts, such as Scottish Mortgage and Alliance Trust, and also bought individual shares.
Top 10 most-purchased ETFs in February 2024
A strong February for stock markets prompted investors to follow the gains and buy exchange-traded funds (ETFs) that owned technology shares. The biggest riser was iShares S&P 500 Information Technology Sector Ucits ETF, up three places to seventh. The tracker from BlackRock owns, for just 0.15%, the technology stocks in the S&P 500 index of America’s largest shares. This means 64 positions, including 21% in Apple, 18.2% in Microsoft and 16.8% in Nvidia.
Bond Watch: why February ended on a high for bonds
Welcome to interactive investor’s ‘Bond Watch’ series, covering the latest market and economic news – as well as analysis – that is relevant to bond investors. Our goal is to make the notoriously complicated world of bond investing simpler, by analysing the week’s most important news and distilling it into a short, useful and accessible article for DIY investors. Invest with ii: How Bonds & Gilts work | Tax Rules for Bonds & Gilts | Open a SIPP Here’s what you need to know this week.
ISA tips: 10 things to know before investing in bonds and bond funds
The world of bonds, also known as fixed income, is more complicated than buying shares. The essential elements of bonds are straightforward – investors lend their money to a government or company for a fixed period of time and are paid interest. Then, when the life of the bond ends, investors receive their money back – providing the government or company doesn’t fall into financial difficulty.
Smithson board rejects continuation vote despite discount pledge
The board of Smithson Investment Trust has decided not to hold a continuation vote, after it was forced to “consider” one due to the wide discount on the trust last year. According to the trust’s prospectus, if the average discount to net asset value (NAV) over a financial year is more than 10%, then the board must consider whether to propose a continuation vote at the annual general meeting.
Lord Jacob Rothschild dies aged 87
City financier Lord Jacob Rothschild has died aged 87. He was a key to the development of RIT Capital Partners investment trust. Jacob Rothschild was appointed chair of Rothschild Investment Trust in 1971, which then had £5 million in assets. In the 1980s, he left the family bank, N.M. Rothschild & Sons, to focus on the investment trust, which was renamed RIT.
Bond Watch: you can now participate in gilt auctions
Welcome to interactive investor’s ‘Bond Watch’ series, covering the latest market and economic news – as well as analysis – that is relevant to bond investors. Our goal is to make the notoriously complicated world of bond investing simpler, by analysing the week’s most important news and distilling it into a short, useful and accessible article for DIY investors. Invest with ii: How Bonds & Gilts work | Tax Rules for Bonds & Gilts | Open a SIPP Here’s what you need to know this week.
Discount Delver: the 10 cheapest trusts on 23 February 2024
Investment trusts, due to their closed-ended structure, offer investors the chance of picking up a potential bargain. Such an opportunity arises when a trust’s share price is lower than the underlying investments held by the trust (the net asset value, or NAV). However, a trust trading on a discount to NAV is not necessarily a buying opportunity. There’s likely a good reason why the trust is cheap, such as subdued short- or long-term performance, or poor investor sentiment towards how it invests.
Where pro fund buyers are investing their ISAs this year
With not long to go before the 5 April deadline to invest the annual £20,000 ISA allowance before it resets, many DIY investors will be looking for ideas for where to invest. A useful source of inspiration is to ask professional investors – who spend their lives researching markets and the best fund managers – where they are investing their ISA allowance this year.
City of London cuts fees and targets another annual dividend increase
City of London investment trust delivered strong returns over the past six months, with its net asset value (NAV) rising 6.5%, higher than the FTSE All-Share Index (5.2%) and the UK Equity Income trust sector average (5%). CTY shares rose 3.1% as the premium to NAV fell from 3.1% to 2% in the six months to 31 December 2023. Underweight positions in pharmaceuticals and AstraZeneca were the biggest sector and stock contributors.
Discount Delver: the 10 cheapest trusts on 16 February 2024
Investment trusts, due to their closed-ended structure, offer investors the chance of picking up a potential bargain. Such an opportunity arises when a trust’s share price is lower than the underlying investments held by the trust (the net asset value, or NAV). However, a trust trading on a discount to NAV is not necessarily a buying opportunity. There’s likely a good reason why the trust is cheap, such as subdued short- or long-term performance, or poor investor sentiment towards how it invests.
Bond Watch: investors dial up bets on UK rate cuts
Welcome to interactive investor’s ‘Bond Watch’ series, covering the latest market and economic news – as well as analysis – that is relevant to bond investors. Our goal is to make the notoriously complicated world of bond investing simpler, by analysing the week’s most important news and distilling it into a short, useful and accessible article for DIY investors. Invest with ii: Investing in Bonds | Free Regular Investing | Open a SIPP Here’s what you need to know this week.
ISA tips: around the world in eight funds and trusts in 2024
By investing in open-ended and listed funds, British investors can easily take stakes in businesses from all over the world, from India and America, to China and beyond. That’s incredibly important for diversification and returns. Just look at the difference between how American and UK shares have performed over the past 10 years: on a total return basis, the S&P 500 is up 314% and the FTSE All-Share index is up 68%.
Core and satellite funds for a £100K ISA portfolio
A useful way of thinking about portfolio construction is to consider two different pots within a portfolio: core and satellite. The “core” portion should make up the bulk of a portfolio and include funds that can deliver steady growth in a range of market conditions. The funds should be well diversified to avoid difficult periods of underperformance and should not aim to shoot the lights out over shorter periods either.
Benstead on Bonds: these pros have seen it all. Here’s what they’re buying today
After a series of false dawns, the fight against inflation seems be won. Central banks have pivoted, changing their tune from “higher for longer” to opening the door to interest rate cuts this year. The Bank of England in February, after its rate decision, acknowledged that leaving interest rates at 5.25% would lead to inflation falling below its 2% consumer price index (CPI) target by the end of 2025, a price level which it says is “significantly” below its previous projections.
Day in the life of a CEO: Impax Asset Management’s Ian Simm
interactive investor's Sam Benstead gets exclusive access to Impax Asset Management's London office in Leicester Square to find out what a day in the life of a fund group CEO is really like. Ian Simm, who founded Impax more than 20 years ago, tells Sam about his typical day, and shows him around the office.
What will happen to inflation, interest rates, and bonds in 2024
Rathbone Ethical Bond manager Bryn Jones sits down with ii’s Sam Benstead to discuss fixed income investing in today’s market. He gives details of his portfolio, including why he likes the banking and insurance sectors, and goes into depth about the ESG overlay the fund implements. This includes why he can’t invest in gilts, but can invest in green gilts. Jones also gives his view on what will happen to inflation and economic growth this year, and how they will affect bond prices.
How stocks, bonds, and cash perform when interest rates fall
Investing in stock and bond markets during interest rate-cutting periods has historically delivered inflation-beating returns. Analysis from fund group Schroders shows that in the 12 months after the US Federal Reserve starts cutting interest rates, the average return from US stocks has been 11 percentage points ahead of inflation. US shares outperformed government bonds by six percentage points and corporate bonds by five percentage points on average.
A 5% income yield makes bonds an insurance policy
Rathbone Ethical Bond manager Bryn Jones sits down with ii’s Sam Benstead to discuss fixed income investing in today’s market. He speaks about the portfolio’s 5% income yield and how higher interest rates have improved the outlook for bonds. Jones also goes into depth about why the bond market rally at the end of 2023 has not impacted the positive outlook for the asset class. Rathbone Ethical Bond I Acc is a member of ii’s ACE 40 list of recommended sustainable funds.
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