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Money Box

How to stop investing in Russia

Money Box

BBC

Business

4.2825 Ratings

🗓️ 2 April 2022

⏱️ 26 minutes

🧾️ Download transcript

Summary

As Russian military forces continue bombarding Ukrainian cities and civilians, are your investments supporting the Kremlin's regime? International companies have been pulling out of Russian investment, and pension funds and investment firms say they are reducing holdings in Russian companies. But what can ordinary investors do? Are you aware that a tracker fund or an investment bond might help support Russian firms? We hear from Lucy Coutts, Investment Director at JM Finn Wealth Management.

For 1.7 million people across the UK, funeral plans offer peace of mind that when the inevitable happens their loved ones will be spared having to pay for a funeral. But there is big change on the way for the industry and those customers. By this summer all firms in the sector must be authorised by the Financial Conduct Authority, to raise standards in the industry. But an indirect consequence of this is that tens of thousands of customers could lose out. Money Box reporter Dan Whitworth has been investigating. We also hear from Matt Brewis, Director of Insurance at the Financial Conduct Authority, and from James Daley of Fairer Finance.

Many listeners have been getting in touch to ask about rises in the standing charge in their energy bills. We hear from Helen Barnard, Associate Director at the Joseph Rowntree Foundation.

And Money Box has won back more than £8,000 for a listener who received a huge - and incorrect - fuel bill from Ecotricity. The company founder, Dale Vince, explains what went wrong and what he thinks is going wrong with the wider energy sector - and how to fix it.

Presenter: Paul Lewis Producer: Paul Waters Reporter: Dan Whitworth Researcher: Ben Henderson Editor: Emma Rippon

(Photo credit: Anghi / Getty Images)

Transcript

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0:00.0

You are about to listen to a BBC podcast and I'd like to tell you a bit about what goes into making one.

0:06.5

I'm Sadata Sese, an assistant commissioner of podcasts for BBC Sounds.

0:11.2

I pull a lot of levers to support a diverse range of podcasts on all sorts of subjects,

0:16.0

relationships, identity, comedy, even one that mixes poetry, music and inner city life.

0:22.4

So one day I'll be helping host develop their ideas, the next fact-checking, a feature,

0:28.3

and the next looking at how a podcast connects with its audience, and maybe that's you.

0:33.6

So if you like this podcast, check out some others on BBC Sounds.

0:39.5

BBC Sounds, music, radio podcasts.

0:43.5

Hello, welcome to this Moneybox podcast.

0:46.8

Tens of thousands of people who paid into a funeral plan could lose much of the money they put in.

0:52.8

Why is the electricity standing charge nearly doubling

0:55.8

in April? And the man in a two-bed semi who was sent a fuel bill for £8,7,7. But first, as Russian

1:08.3

military forces continue to lay waste to Ukrainian cities and kill civilians,

1:13.6

international companies have been pulling out of Russian investments.

1:17.1

BP and Shell were among the first, now major pension funds and investment firms

1:21.5

say they're cutting their holdings in Russian companies.

1:24.8

But if you're an individual investor, what can you do? Do you even know

1:28.9

if some of your money is supporting Russian firms? With me is Lucy Cootts. She's investment

1:33.8

director at J.M. Finn, wealth management in Yorkshire, managing about £12 billion. Lucy Coots,

1:41.5

it's a hard time for investors anyway with share prices falling sharply.

1:45.0

But, I mean, for example, Stefan tweeted me today, it's very difficult to untangle what I put my money in.

1:50.8

Even worse in a managed pension fund, I'd love to strip out Russian and unethical investments.

...

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