Tuesday, October 22, 2013

Tories, Fidelity & your savings policy being used to fund them.


A little late but more on Tory "fund" manager Fidelity doing what it does best - funding Tories! - from Tom P at Labour and Capital.

Fidelity are (or were) the single biggest corporate funder of the Conservative Party. In the last 4 years they have given them £400,000.

I understand that they now have lots of competition for this title from various other Tory financial sponsors.  See chart above about the rise in funding by the financial sector.

Tom P "I was Googling around on Fidelity and the Tories last night and came across this story from 2007. What caught my eye was this comment -

“We do not comment on our political donations. We do not endorse political candidates and generally we take a non-partisan approach with politics.”

I still think the "non-partisan" claim is hilarious, frankly, but the bit that struck me was that line about not endorsing political candidates. As far as I am aware this is true. But Fidelity does have a Conservative MP it employs as a consultant who seems to be paid pretty much every month.

Sir John Stanley's register of interests is here. Here are the Fidelity contributions:

2. Remunerated employment, office, profession, etc.

Consultant on financial services to FIL Investment Management Ltd (formerly known as Fidelity Investment Management Ltd), Oakhill House, Hildenborough, Kent TN11 9DZ.

£1,800 received for attending meetings as necessary and advising on business opportunities and risks. Hours: 7 hrs. (Registered 23 May 2012)

£1,800 received for attending meetings as necessary and advising on business opportunities and risks. Hours: 8 hrs. (Registered 27 June 2012)

£1,800 received for attending meetings as necessary and advising on business opportunities and risks. Hours: 6 hrs. (Registered 20 July 2012)

£1,800 received for attending meetings as necessary and advising on business opportunities and risks. Hours: 5 hrs. (Registered 21 August 2012)

£1,800 received for attending meetings as necessary and advising on business opportunities and risks. Hours: 6 hrs. (Registered 2 October 2012)

£1,800 received for attending meetings as necessary and advising on business opportunities and risks. Hours: 5 hrs. (Registered 29 October 2012)

£1,800 received for attending meetings as necessary and advising on business opportunities and risks. Hours: 5 hrs. (Registered 21 November 2012)

£1,800 received for attending meetings as necessary and advising on business opportunities and risks. Hours: 7 hrs. (Registered 24 December 2012)

£1,800 received for attending meetings as necessary and advising on business opportunities and risks. Hours: 6 hrs. (Registered 29 January 2013)

£1,800 received for attending meetings as necessary and advising on business opportunities and risks. Hours: 7 hrs. (Registered 22 February 2013)

£1,800 received for attending meetings as necessary and advising on business opportunities and risks. Hours: 8 hrs. (Registered 25 March 2013)

£1,800 received for attending meetings as necessary and advising on business opportunities and risks. Hours: 6 hrs. (Registered 16 April 2013)

(Note Fidelity now appears as 'FIL' rather than 'Fidelity' both here or when making donations).

Check out more Tory/Fidelity connections by Tom here!

Hat tip chart If you do not want any of the profits from managing your pension or investment policy to be given to David Cameron or his mates then please check that they are not run in any way by Fidelity. If they are then let your fund administrators or trustees know your views.
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