10 Years of Brexit, 22% ISA Tax, & Emerging Markets Boom | The Heart of Wealth

Welcome to this week's episode of The Heart of Wealth! Host John Schafer sits down with CityWire journalists Ruan Jooste and Olivia Bybel, alongside James Penny from TAM Asset Management, to take a pulse check on the wealth industry. In this episode, the panel covers three major market stories: 10 Years Since Brexit: A decade after the Brexit vote, the team looks at how UK equity funds have fared compared to European strategies. Data shows that in the 10 years since the vote, Europe has outperformed the UK on an index level, and top-performing European funds have beaten top UK funds. Emerging Markets & AI: The team discusses the recent rally in emerging markets, noting that flows have been heavily supported by the AI boom and are highly concentrated around the semiconductor supply chain. James Penny weighs in on the concentration risk, highlighting the critical need for active management to rotate out of the current heat and find new diversification opportunities. The New ISA Tax: Finally, the panel discusses the Treasury's confirmation that it will apply a flat rate tax charge of 22% on cash interests within stocks and shares ISAs. #investing #brexit #isa