The choices for wise investing

摘要

Twelve months on from the failure of the Icelandic banks, the need for the highest-quality management of local authority funds has never been greater.Commentators may be divided on the shape of the recession, but they appear united on three points.First, we are entering a period of reductions in public expenditure. Second, we look set to have ultra-low interest rates for some time to come. And third, the risk of banks or other financial institutions failing have not gone away.