Jacob Rees Mogg

If Jacob Rees Mogg is ( as he states) so confident of Britains success following Brexit, why does he not sever all his ties with the investment fund?
Somerset Capital Management runs several funds which invest in emerging markets.

Jalima1108 Quote [Capital Management runs several funds which invest in emerging markets.] End Quote.

So, Jalima1108, your point is?

I don't follow your 'logic', grandad. It is one fund you have a problem with, not the entire company. If JRM has investments in the "Irish" fund what you're saying might make sense, but does he? Do you know? Does anyone know? Does anyone even have the right to know?

Actually, I'm not sure it's even an investment fund you have a problem with; I think you simply have a problem with JRM. No-one can argue with that.

The problem is that he has been a successful investor since he was a kid and some people can't bear that because he's also a Tory.

Baggs, the problem for JRM is that he has holdings in an asset management company that is recommending to its current investors that they transfer their investments to a European Union member state from Britain as those assets will be more stable in that environment rather than in the UK following Brexit.

The above is totally contrary to the statements JRM has made in regard to Britain having a "golden future" following Brexit and therefore it would follow the place to invest in.

However, the above will not be the case according to the asset management company that JRM has a large holding in.

Perhaps this is a case of "do as I say, not as do". Some people may find that two-faced, but that is a situation common in the Tory party these days.

Anyway, I am working today so may not be able to respond further Baggs until much later in the day.

It’s not a problem for JRM at all, because he doesn’t own the entire company therefore cannot dictate what is advised.
Any company works entirely for what is best for itself and shareholders.
Yes baggs I think you have hit the nail on the head, he is a successful investor, a Tory ( and of course, an advocate of leaving the EU.)
That’s all this thread is really about.

JRM two faced ?

Mr Corbyn did you lay a wreath to honour terrorists?

‘ I was there but I don’t know if I was involved ‘

We all look for the best returns on any amount of money we have. As far as I am aware that is not a criminal offence.

He has declared his interests to the relevant authorities.

The problem is that he has been a successful investor since he was a kid and some people can't bear that because he's also a Tory

You can't really be a successful investor if you have nothing to invest though.

Being a person of "such strong principles", why then does JRM not just dispose of his links with Somerset Asset Management if they contradict so with his basic beliefs.

If anyone wishes to see Jeremy Corbyn in 10 Downing Street, then just carry on with support for Jacob Rees Mogg. Both mainstream media and social media would have a field day with all the above come any general election.

Now, better get on with the work.

And your point is? oldbatty?

Are you simply telling us that some people are born into families with more income/legacies/cash than others?
I think we may already know that.

Grandad the media already has a field day with Corbyn, JRM is just a backbencher.

You crack me up Lemon, poised by your keyboard ready to pounce.

Have a nice day now.

Aren’t we all on our keyboards oldbatty when typing on a GN thread?
I think ‘crack me up’ actually means I annoy you, but hey ho,I can live with that.
I still don’t see the point of your comment about having something to invest.
Thank you btw I will be having a nice day, clothes shopping later with DD.

It sounds as though one fund (maybe two) out of a total of "all over the world" has been moved to Ireland for reasons beyond my ken.

I believe that that is correct Baggs and seems perfectly clear to me, although I'm not sure that Grandad has fully understood:
Being a person of "such strong principles", why then does JRM not just dispose of his links with Somerset Asset Management if they contradict so with his basic beliefs.
Somerset Asset Management was dissolved in 2016.

Somerset Capital Management has not moved to Ireland - one or two funds that they manage have been moved to Ireland. As I understand it (and I could be wrong, too), these are the funds that invest in European countries and it will therefore be easier and more logical to run this fund from Ireland post-Brexit.
Being in charge of £millions of investments on behalf of individuals, pension funds, etc, it would be irresponsible to take risks with other people's money, especially that of pension funds.

So, Jalima1108, your point is?
They invest in emerging markets, as I said previously. There are 'emerging markets' in Europe.

He receives £180,000 a year for his part time job at Somerset Capital Management (30 hours a month) as well as having shares in the company. He also writes for The Telegraph and works for LBC. Plus other income as a landlord and much more -in addition to his salary as MP.
www.theyworkforyou.com/mp/24926/jacob_rees-mogg/north_east_somerset#register

What was it Grandad asked me?
Oh yes.

So - mostlyharmless your point is?

I assume that all is above board as it is all listed in the register and there must be many MPs who 'moonlight'.

I was talking about MPs having other jobs with a friend today. I really think it's time that MPs should not be allowed to have other jobs. Surely being an MP is a full time job? Having other lucrative jobs and 'consultancies must mean that some time is diverted from their most important and responsible task. It smacks somewhat of the 'rule by the rich' which prevailed for hundreds of years.

If MPs can't manage on their salaries alone perhaps it might give them more of an insight into the lives of 'ordinary' people who have no choice but to manage on what they earn.

Why does what a person earn trouble some. Should Bill Gates be critcised for the money he made and is now doing so much good. One can be wealthy and caring

Jalima1108, Somerset Capital Managment has advised it's clients that European Union country investments would make a more stable asset foundation than the United Kingdom following Brexit.

It has been claimed so often in this thread that Jacob Rees Mogg is a person of high principle, but the above is a huge contradiction of the expressly stated beliefs by JRM in regard to Brexit. In that, Jacob Rees Mogg had stated countless times he is a firm believer in the success the United Kingdom will have following Brexit. Therefore the question is a simple one for those that believe in JRM as the person of those high principles, that being, why does he not sever his links with Somerset Asset Managment by releasing his holding in the company.

Surely to it cannot be the loss of income he would suffer, for that must be of little consideration for a man of such basis and an outright believer in the "golden future" that will roll out before Britain following Brexit. Therefore, the above is confusing to many of us as to why JRM remains connected to the investment fund company.

Could it be that the revenue incurred to him from the company is a more powerful draw than his principles...... surely not.

However, in the above, little further explanation seems to come to mind. So perhaps other forum members could come forward with explanations of why Jacob Rees Mogg has retained his holdings in a body which holds such directly opposing views to his own high belief, and in that, so many on this forum and in the Conservative Party have such faith in.

Some may not have second jobs and still may not contribute much to the H of C and be a fairly useless constituency MP. Others seem to manage all of that and have outside interests.

I don't think JRM is two-faced at all, his interests are, and always have been, what will be the most profitable investment for him. He is obviously going to have continuing investmentin the EU where it pays dividends, at the same time advocating Brexit because there will be money to be made during the recession that follows. Do people really not understand that the people who suffer during a recession are not those with money who are able to offset their interests and invest in other things, and who actually profit from recessions . It's the ordinary working person who finds their job disappears and they can't afford their home any longer. Not the likes of JRM.

He is obviously going to have continuing investment in the EU where it pays dividends
That is an investment fund run by investment manager(s) working for SCM - do you know for a fact that JRM himself has invested in it? I very much doubt it myself.

I'm confused by some of the posts on here as it is obvious some posters don't understand - it's not his money invested, it is that of people who have invested eg big pension funds etc.

You're very evenhanded, trisher

I'm not so sure that it's hypocrisy that's bothering many people but the fact that he, and a lot of other wealthy people, are insisting that we must follow a course which would, by just about all forecasts, lead to a depression the like of which we've never experienced, while they know that they are insulated against its effects and will actually take the opportunity to profit from it.