财务分析个人财务与投资分析 精品.docx

财务分析个人财务与投资分析 精品.docx

《财务分析个人财务与投资分析 精品.docx》由会员分享，可在线阅读，更多相关《财务分析个人财务与投资分析 精品.docx（9页珍藏版）》请在冰豆网上搜索。

财务分析个人财务与投资分析精品

SuggestionsonAndrew’sinvestment

1.Introduction

Tohavefortablelife,itisimportantforonetoearnmore,butnolessistherightmanagementofmoney,asacclaimedbyCarlos（20XX）.Andrewisfacingtheproblemofmanaginghismoneyeffectively,sothisreportiswrittentogivehimsomesuggestions.Beforewriting,theworkofreferringtotheintroductionofhissituationandthecheckingoftheinternetforinformationofproperfinancialproductsandserviceshasbeendonecarefully.

Aswaswrittentoillustratethefactthathowtoscheduleyourfinanceandhowtoinvestefficiently,thisreportisnotonlyfitAndrewverywellbutwillalsobehelpfulforsomeonewhoisunfamiliarwithfinancialservicesandproductsbutwanttomanagetheirwealthmoreefficiency.

ThereportfirstlyanalyzedthefinancialstructureofAndrew;inaddition,ItworkedoutthefuturefinancialneedsofAndrew;then,Itcheckedtofindproperfinancialproductsorservicesmainlybyinternet;andfinally,IteupwithaconclusionwhichincludesaseriesoffinancialproductsandservicesthatfitsAndrewwell,alsoIthelpedhimonhowtodealwithiteffectively.

2.Analysisoffinancialservices

2.1

CurrentfinancialstructureofAndrew

Table1.Andrew’sfinancialstructure

Formtable1wecanclearlyknowwhatAndrewhasandhowmucharetheytoinvestment.Thecalculationofhisassetsandnetineindetailisasfollowing:

Ashehasbuyapersonalpensionforfiveyears,andhedoescurrentlypay6%ofhisgrosssalaryintoit,sointotalhehasput$14400intothepersonalpensionschedule.

AccordingtotheTaxreliefonpersonalpensions,heendsuptohave$18000inhispensionpot.

Hisassetsincludesomeordinarysharesofthreepanies,moneyinbankaccountsandaflat.

Thenumberofordinarysharesisasfollowing:

AberdeenAssetManagement

30,000

Prudential

6,000

RoyalBankofScotland

60,000

Moneyinhiscurrentaccountis£1,800andinhiseasy-accesssavingsaccountis£5,000.Theflatisa2-bedroomflatnearthecentreofEdinburgh.

Hisdebtisthemortgageofhisflattopayinfiveyears.

Hemaypaytaxincludeinetaxandtaxonsavesandinvestments.

AccordingtotherulefromthewebsiteofUK（20XX）,tocalculatehistaxonine,weshouldfirstlycalculateoutthetaxableinewhichisgrossineofsalariesandinvestment;thenlessdebtandpensioncontributions,andlastlytofindtherightbasicratetodothefinalcalculation.Theprocessofcalculationisillustratedasfollowing,Andrewandcalculatesitoutbyhimselfwithfurtherinformationonhisfinancialcondition.HecanalsosearchforonlinehelpbyvisitingthewebsiteofHMRCOnlineServices.

TaxableIne£48,000

LessPersonalAllowance?

?

?

LessPensionContributions£3,600

Inetaxchargeableon?

?

?

BasicRateatthefittestlevel?

?

?

Taxpayable=?

?

?

Taxrateonearningsbydifferentwayorondifferentfinancialproductsareusuallydifferentfromeachother.Anyinterestearned（onsavingsaccounts,certaintypesofOEICetc.）isusuallytaxedat20%,whileinvestmentineintheformofdividendsfrompanyshares,forexample,isonlytaxedat10%（Arthur,20XX）.Whenhesellhisassets,suchashisflatorhisordinaryshareshehastopayforaCapitalGainTaxatthetaxrateof18%.

Hisineincludeshisafter-taxsalary,dividendsandinterestsfromhisbankingaccount.Butmoreattentionshouldbepayonabouthisnetineortosaythecashflowhecanmoistertoinvest.Hehas$500permonthleftoverfromhissalarythathecansaveorinvestelsewhere,soitaddupto$6000everyyearhecancollecttosaveorinvestelsewhere,thisishisnetineviahissalary.Hecanalsoreceivesomedividendsbyhisordinarysharethoughstocksheownandintereststhoughhiscurrentaccountandeasy-accesssavingsaccount.Interestsofhiscurrentaccountandhiseasy-accesssavingsaccountarevariousfromdifferentbanksandtimetotime,butAndrewandeasilyfindthemfromthewebsiteofthegovernmentofUK.

2.2futurefinancialambitionsofAndrew

Hewishestousethefundshehasavailabletotraveltheworldforatleasttwoyearswhenheretires,sotheinvestmenttermssupposedtobetotally10-12yearsandofcoursehesupposethemuchrewardthebetter.

Hehastopayformortgageforhisflatinthenextfiveyears,soheshouldbeclarifyinthefirst5yearswhileinthelast5to7years.Inthelast5to7yearshecaninvestintosomefinancialproductswhichismoreriskybesidesremainssomemoneyforhisliving.Afterbackingfromhistravelaroundtheworld,Andrewhastoplanforhisrestlife,ashehastohaveaflattolivein,butdonotneedoneafterhisdeath,IsuggesthimusingReverseAnnuityofRealEstateandlifeinsurance.

Sothisreportsuggestshimtodividehisinvestmenttermintothree.Thefirstoneishisfirstfiveyears,thesecondoneishisother5to7years,andthethirdoneisfromhisbackoftraveltohisdeath.

2.3RangeofproductsavailabletoAndrew

Thefinancialsectorincludesbanks,insurancepanies,financehouses,investmenttrusts,fundmanagers,thestockexchangeandsoon.Theyprovidemanyfinancingtoolsincludeinvestorshares,bonds,andwarrantsandsoon.AshehasnoobviousinclinesthatallthesefinancialproductsandtheirportfolioscanbeavailabletoAndrew.

InformationindetailsoffinancialproductswhichmayfitAndrewisasfollowing,

Pensions:

Pensionsaredesignedtoprovideregularineforpeoplewhentheyretired.Blackburn（20XX）haddiscussedaglobalpensionplanwhichincludesavariouskindsofpensionswhichsuggestedthatTherearereallymanydifferenttypesofpensions,andtheyaretraditionallybeenmanagedbypensionfundsandinsurance.Now,letuspracticetofindhowthetaxreliefonpersonalpensionsworks:

ifAndrewput80poundintohispersonalpensionschedule,hecanendsupwiththerighttoclaimthathecanget100poundinhispensionpot.Thatistosaytheinvestorofthepensioncanclaimtaxbackfromthegovernmentatthebasicrateof20%.

Tocheckwhetheryoucangetastatepension,youcanfindmoreinformationindetailsbythewebsiteofUKgovernment.Youcanalsofindinformationonpersonalpensioninvestmentthere.Youcanbuypensionsthoughtwoways:

gettingonethroughyourjob,orsettingupyourown.Also,youcanchooseboth.

ReverseAnnuityofRealEstate:

Itisafinancialproductmainlydesignedforretirepersons.Itworksinthefollowingway:

whenapersonretires,hecangetapaymentfromthebankforacertainyear,oruntilhisdeath.Theninthefinaloftheterm,orwhentheinvestordies,thebankwillgettherealestate.

Lifeinsuranceisthemostimportantwaytodealwithuncertainsituations,especiallyforoldpeoplewhoarereallyeasytobeill.AlsoitfitsAndrewwellwhenhehavingthetravelallovertheworld.Hecangetinformationeasilyfromtheinsurancepaniesoronlineservicesofinsuranceinstitutions.

Suitabletax-freeproductsinclude:

fixedratesfundandpremiumbandsofbanksandISAsandNationalSavings&otherInvestments.Theyarealwaysservebythebank,orhavecloserelationshipwiththegovernment.Theyarealwaysfinancialproductswithlowriskandlowreward.

Astheveryfastdevelopmentoffinancialproducts,nowdaysjustlikeBaddepudi（20XX）esupwith,otherimportantfinancialproductssuchasITs,UTsandOEICsareplayingamoreandmoreimportantroleintheportfolio.

IThereisshortforinvestmentTrustwhichisapubliclimitedpanytosellitsassetsbysharesinthesecondarymarket,itmostlyusedintheUK.ITsareclose-endedfund.InfactITisnotinfacta“trust”butaseparatelegalpersonorapanyinthesenseoflaw.Itoperatesandtradeslikeanyotherquotedpany.Peopleholditbyshareswhicharetradedinthesecondarymarketandthesharepriceisdeterminedbysupplyanddemandmonthly.IthaslowriskbuthighrewardwhenparedwithUTsandOEICs.

UTistheabbreviationofUnitTrustwhichisequaltoUnitInvestmentTrust.Infact,UTisaTrustwhichbrokendownaportfoliowhichincludeslotsofmoneyintounit,thisiswherethedifferencesliesbetweenUTandmutualfund,accordingtoSharpe（1996）.Itissoldbyunitanditiseasyandcheaptotrade.Foritsaverageriskisequaltotheportfolioitesfromwhichislow,itsrewardisalsolow.

Themanagementpanyplaysaveryimportantroleforaunittrusttobesuccessful.Themanagementpanygetssharesformpaniesandtheyputthemtogethertoformacapitalpool,thentheycreateUTsbydividedthecapitalpoolintounit.ThemanagementpanyburdenstheresponsibilitytoadvertisingandsellingtheUTs,andtheymakemoneybysellingUTs.TherearelotstypesofUTs,amongwhichthemostmonarecashequivalents,property,mortgagesandsecurities.ExpensesforinvestingUTsincludeoperatingexpensesandsaleschargesandentranceorexitfees.TheoperatingexpensesofUTsarelowbecausetheyarenotbuyingorsellingbyshares.ButdifferentfrommanyotherfinancialproductsnamelyITsorOEICs,UTsalwayshasasalechargesandentranceorexitfees.ItisalsocalledparticipateTrustsforboththeinvestorandtheownerofthecapitalofunittrustssharestherewardsandrisks.

OEICisequaltoitsfullname--Open-EndedInvestmentpany.ItoperatesandtradesbyshareslikeIT,butitisanopenpany.Itisalsotradeslikeastock.ThesharesofOEICofacertainpanyarelistedandtradedbytheLondonStockExchange,andhowthepriceoftheOpen-EndedInvestmentpanyissamewhenparedwithastock—itspriceformedbybideofsellersandbuyers,anditspricechangesfromdaytodaymainlydecidedbythesupplyanddem