Client Newsletter, October 2026

Welcome to our latest client newsletter,

Following weeks of speculation, we have the details of this Labour Government’s third budget and the first for the Burnham regime. Our job is to navigate through the noise and the drama to provide you with a succinct summary of the changes announced by Chancellor Healey yesterday. In addition, we have also included articles on a wide range of topics that we hope will be of interest to you. These range from details about our latest cyber security developments, a question-and-answer session about recent global markets, to understanding more about the hidden costs of bereavement.

I encourage you to reach out to your usual CAM team if you have any immediate questions or concerns about the budget, whether you want to discuss the announcement that planned changes to cash ISAs will be dropped or consider the additional income tax to be imposed on savings and rental income. We know that the news media need dramatic headlines to grab attention, but we are always here to give you the facts and explain how this impacts your personal circumstances. We will be offering you a chance to understand the implications of the budget in greater detail in another newsletter over the coming weeks. We will be covering topics such as the new Capital Gain Tax Founder’s Relief and the reduction in the lifetime allowance for Business Relief – look out for our follow up newsletter with written and video content in November.

I want to extend my thanks to all of you who took the time to complete our recent client feedback survey. We were delighted that so many of you shared your views and that the feedback was overwhelmingly positive. Of course, there are lessons to learn and improvements to make, we are focusing on implementing changes. I am also happy to confirm that several charities have already benefited from the contributions that we made to thank you for completing the survey and one lucky winner has received a Fortnum & Mason hamper. If you missed the survey or want to provide feedback at any time, please contact tracy.coghill@city-asset.co.uk

Finally, whatever the market turbulence caused by the budget or by the coming US mid-term elections, I want to reassure you that your portfolios are well positioned to withstand these events. We are actively managing your investments, holding fast to our long-term growth principles and to our investment process, and avoiding knee jerk reactions to political shocks. After a period of strong performance in 2025/26, I am optimistic for the future. If you would like to discuss your portfolio in greater detail, do contact your CAM team.

Thank you for your continued support.