Sunday, February 24, 2008

Time to Say Goodbye to Tory Fund Managers Fidelity?



Or is it belated good riddance to bad rubbish? Tom P of Capital & Labour (and his Mrs) has finally had enough of active Conservative Party supporters,Fidelity Investment. Fidelity has donated £435, 500 (£115,000 in 2007 alone) to the Tories in recent years without disclosing the information to their investors.

Tom and his family have had a long term saving plan with Fidelity for many years. Once they found out that the company was giving the Tories huge amounts of money they were very concerned. They tried to contact Fidelity about their over why Fidelity were giving this money to the Tories but felt they were “fobbed off”. So they are leaving Fidelity.

Personally, I think anyone who does not support the Conservative Party should think about doing something similar. This includes pension fund trustees. I’ll hopefully be posting further on this in the near future.

Pic & video of top artists Sarah Brightman and Andrea Bocelli (not Tom & Mrs!)

6 comments:

Anonymous said...

Well done Tom! Another blow to capitalism! I'm sure that Fidelity are quaking in their boots at your action...top effort! I bet you are sleeping well at night now. Have you put the money in a tin under your bed?

Tom Powdrill said...

Ouch! What a witty and cutting putdown!

1. We moved from Fidelity because we don't support the Tories and don't wnat to give money to a business that does,
2. We're not trying to 'smash capitalism', jut want to move to a different provider
3. so that means we'll put the money with another fund manager, not under the bed
4. I don't expect Fidelity to quake in their boots, but they do visit my blog quite a bit to read what I write actually.

what's with the whole making anonymous insults bit? happy to discuss over on my blog if you are willing to be a bit more open

John Gray said...

Hi Tom
I was just about to post a reply on the same lines of planks and plonkers, but you beaten me to it!

The Tory boys are obviously upset with your findings! Keep up the good work!

Anonymous said...

That's good because now I know that they support the Tories I'm actively looking to move my substantial savings in with them.

Tom Powdrill said...

"That's good because now I know that they support the Tories I'm actively looking to move my substantial savings in with them."

As is your right of course.

Overall I suspect Fidelity will see significantly more outflows than inflows over this. And it would only take one decent size pension fund to move elsewhere for Fidelity to lose more in lost fund management fees than it actually gives to the Tories.

John Gray said...

Hi Anon
I thought we had established that you are a black cab driver? All the cabbies I know say that things are so tight that they have no savings? Or is this another “I had this bloke in the back of my cab and he says....” type of story?

Just a thought...