Investors in Somerset Capital Management told they could make ‘super normal returns’
Government minister Jacob Rees-Mogg’s investment firm has been criticised for exploiting the coronavirus crisis after telling clients it provided a chance to make “super normal returns”.
Somerset Capital Management (SCM), which manages investments in emerging markets, told clients that the dive in stock market valuations around the world since the pandemic took hold had made “excellent entry points for investors”.
Market dislocations of this magnitude happen rarely, perhaps once or twice in a generation, and have historically provided excellent entry points for investors
No fan of Rees-Mogg, and of course super-profits must be properly taxed, but this is a bit silly. SCM wants to invest in bombed out share prices. This is actually a good thing as higher share prices will make it easier for those businesses to attract fresh capital and survive. https://t.co/TyUmoam9P3