Logic Financial Consultants

General Market News - Brexit With Halloween just gone it is perhaps fitting that we should continue to feel some sort of unease this week. However, many individuals were hoping that, after 31st October, matters would somewhat settle down and our new non-EU citizenship lives would begin. Unfortunately for those people, Boris Johnson´s plan to leave the EU “do or die” has not come to fruition at this point, with the EU granting Britain a further 3 months flexi-extension for Brexit. This has led us to a general election, which the government sees as the only way to end the continuous circle of disagreement. Announced yesterday in the Commons, the vote is due to take place on December 12th. There are a number of different outcomes that could arise from this vote, with many experts split in their opinions. Perhaps the three most likely outcomes could be summarised as follows; Boris and the Tories get a majority. This would be the ideal scenario for the government and would essentially all

General News Once again, there has been no shortage of talking points over the last 3 months where politics and markets are concerned. The UK has a new Prime Minister, with Boris Johnson (or “BoJo”) taking Theresa May´s place at the head of the Conservative party. Boris went head-to-head with other frontrunner Jeremy Hunt, although in truth, this never seemed to be a fair fight, and Mr Johnson inevitably took the vast majority of votes – causing no great surprise. What this change in Prime Minister means for the UK is anyone´s guess. Almost immediately after Boris was confirmed as the new PM, there was speculation that he might suspend parliament in the weeks leading up to the October BREXIT deadline. This would have meant Parliament being unable to “block” a hard Brexit and leaving without some sort of deal. This, however, was swiftly seen to by Parliament who blocked the potential suspension in advance. Boris remains fairly bullish when speaking about Brexit and the need

Malta remains as one of the world´s leading jurisdiction for pension business and the jurisdiction, its policy makers and industry, are determined to maintain that position by offering well regulated, compliant and prudent pension products. There have, however, been a number of legislative changes to Maltese pensions since the start of 2019, ranging from tighter investment due diligence to full disclosure of commission. For advisers and clients, one of the most important measures introduced is the requirement for advisers to have greater regulation than ever before. Investment advisers, in addition to having to be licensed/authorised to provide investment advice in the country where the adviser firm is established, must also be duly authorised and regulated to provide the investment advice being given to the member, in the member´s respective jurisdiction. For European based investment advisers and members, the rules require that the adviser will need to be duly regulated to gi

General News Over the last 3 months, we have seen the strong performance of equities continue from the start of the calendar year. The first quarter of 2019 was a great period for investors, with all major indices posting significant gains. The US market, rebounding off December lows, experienced their best start to a year since 1987. Market volatility came down sharply as robust US jobs data, the possibility of a trade truce between the world´s two largest economies and the Fed´s signal of a slower path of rate rises, contributed to the bounce back in global stocks. The reason behind the December lows and the subsequent recovery in Q1 of 2019, not just in the US, but also in many global markets worldwide, was down to valuations. Based on expected earnings over the coming year, in the last quarter of 2018, stock valuations dropped down to the lowest level we have seen since 2013. As such, stocks become for want of a better word, “cheap”. There was also a tailwind from int

General News Well, where do we begin? It has certainly been an interesting quarter, with endless developments on Brexit (“the gift that keeps on giving”), the ongoing tariff disagreements between the US and China, and the increasing problems Italy and their economy are experiencing.  Brexit, without doubt, is the most known and spoken about topic, as we simply cannot get away from the news – even if we wanted to. This is also the most relevant subject to the majority of us living here in Spain, as, depending on the outcome, it could have a direct impact on us, especially if there is a no-deal scenario. This, as we know, is not a certainty and there are many people who still believe that the UK will not leave the EU if there is a strong campaign for a second referendum. Over the past 3 months we have seen Theresa May suffer a humiliating defeat in the House of Commons, which led Mr Corbyn to table a vote of no confidence. The PM survived the vote of no confidence the followin

The Modelo 720 is an informative declaration made to the Spanish authorities advising them of any asset an individual holds outside of Spain, with a value of 50.000€ or more. This declaration has to be made before the 31st March and is in relation to the value of the assets as of the 31st December the previous calendar year. Any asset held within Spain does not need to be declared as it will already be known to authorities. Modelo 720 has 3 reporting categories, split into bank accounts, investments and immovable property and the limit of 50.000€ applies to each. If the asset in question is in a different currency, the exchange rate will determine whether or not there is a need to declare. For example, if an individual has 30,000 pounds in a UK bank account, this would not need to be declared as with the current exchange rate, this would be equivalent to approximately 33,000€ and therefore short of the 50.000€ requirement. Many individuals have bank accounts or investments that are