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Post by rgs2001uk on Jan 26, 2021 21:04:05 GMT 7
I quote, from my stockbroker, Neither ... nor JP Morgan Emerging Markets are names that currently feature on our recommended lists.I'm rather inclined to agree with your stockbroker (assuming this is referring the investment trust). This has been one of my long, long time holdings. Its performance has been very solid over the years, so I've not paid it much attention. Your stockbroker's comment made me have a closer look. It's very different from what it was 10, or even 5 years ago, despite having had the same manager. Now it's much more concentrated (52 holdings) and much more tech-heavy. The top three holdings are: - Taiwan Semiconductor Manufacturing 9.9% - Tencent Holdings7.7% - Alibaba Group Holding 6.4% Back in 2015 they were: - Housing Development Finance 4.9% - Taiwan Semiconductor Manufacturing 3.8% - AIA 3.4% I doubt very much that I'd buy it today, but given what a great performer it's been, I won't sell it just yet, either. Correct, IT. Ref manager, is that a bad thing? Personally I would rather have a pro active manager to take the fund forward rather than a baby sitter.
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Post by rgs2001uk on Jan 26, 2021 21:06:47 GMT 7
It would be good if you were to ask him what he recommends in place of JPM EM, it's hard for me to imagine there's much else around that beats it. I didnt ask cm, I sent an email telling him I was offloading a couple of ITs and intended investing in JP and BG, his reply was ....... I took no notice and told him to go ahead as instructed, this was about 3 months ago.
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AyG
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Post by AyG on Jan 27, 2021 5:55:28 GMT 7
Ref manager, is that a bad thing? Personally I would rather have a pro active manager to take the fund forward rather than a baby sitter. I prefer managers who've got a lot of experience, through one or two economic cycles, so they show they can work successfully in all conditions*. However, I don't like managers whose style drifts (Woodford and Bolton spring to mind). I suspect in this case, though, the board of the IT instructed him to reduce the number of holdings to give the trust a bit more oomph. The stock picking, however, appears to be fairly consistent across time. * Which is why I'm not overly impressed by Baillie Gifford's fund performances over the last year. Looking at their American fund, if you strip out last year's extraordinary performance, performance is good, but not amazing. In two of the previous four years it underperformed its benchmark by -1.5 and -5.5 percent.
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chiangmai
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Post by chiangmai on Jan 27, 2021 6:34:15 GMT 7
Ref manager, is that a bad thing? Personally I would rather have a pro active manager to take the fund forward rather than a baby sitter. I prefer managers who've got a lot of experience, through one or two economic cycles, so they show they can work successfully in all conditions*. However, I don't like managers whose style drifts (Woodford and Bolton spring to mind). I suspect in this case, though, the board of the IT instructed him to reduce the number of holdings to give the trust a bit more oomph. The stock picking, however, appears to be fairly consistent across time. * Which is why I'm not overly impressed by Baillie Gifford's fund performances over the last year. Looking at their American fund, if you strip out last year's extraordinary performance, performance is good, but not amazing. In two of the previous four years it underperformed its benchmark by -1.5 and -5.5 percent. I have to agree about some aspects of BG funds also. I was interested at the mention of BG European Growth which has done wonderful things in the past year but prior years were nothing to rave about, especially compared to Fidelity European, the European fund I chose. I like BG as an investment house and their record across various funds is quite impressive but some aspects of their funds performance don't make a lot of sense. My favorite BG fund is BG International which I've held for about fifteen years but nobody ever mentions it, it performs beautifully as far as I'm concerned but it's clearly not flavour of the day.
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Post by rgs2001uk on Jan 27, 2021 20:05:02 GMT 7
I prefer managers who've got a lot of experience, through one or two economic cycles, so they show they can work successfully in all conditions*. However, I don't like managers whose style drifts (Woodford and Bolton spring to mind). I suspect in this case, though, the board of the IT instructed him to reduce the number of holdings to give the trust a bit more oomph. The stock picking, however, appears to be fairly consistent across time. * Which is why I'm not overly impressed by Baillie Gifford's fund performances over the last year. Looking at their American fund, if you strip out last year's extraordinary performance, performance is good, but not amazing. In two of the previous four years it underperformed its benchmark by -1.5 and -5.5 percent. I have to agree about some aspects of BG funds also. I was interested at the mention of BG European Growth which has done wonderful things in the past year but prior years were nothing to rave about, especially compared to Fidelity European, the European fund I chose. I like BG as an investment house and their record across various funds is quite impressive but some aspects of their funds performance don't make a lot of sense. My favorite BG fund is BG International which I've held for about fifteen years but nobody ever mentions it, it performs beautifully as far as I'm concerned but it's clearly not flavour of the day. Is this the one cm? www.hl.co.uk/shares/shares-search-results/f/fidelity-european-trust-plc-ordinary-2.5pIf so, I already hold it. Its performance almost mirrors Bankers, which I also hold. As for BGI, can offer no comment other than to say I dont hold it, and am well covered by other global ITs, Will need to investigate it further., thanks for the mention.
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Post by rgs2001uk on Jan 27, 2021 20:43:06 GMT 7
^^^^, cm is this the BGI you refer to? www.hl.co.uk/funds/fund-discounts,-prices--and--factsheets/search-results/b/baillie-gifford-international-b-accumulation/charts If so, after a quick look around, I hold the following, SM, Monks and Edinburgh. Probably explains why I have not bothered with BGI.
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chiangmai
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Post by chiangmai on Jan 27, 2021 21:11:19 GMT 7
Yes that's the one. If you don't hold it and are not recommending it then we're both on the same page, I got the idea from something said earlier that perhaps you do....I must have misunderstood.
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chiangmai
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Post by chiangmai on Jan 28, 2021 7:41:55 GMT 7
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Post by rgs2001uk on Jan 28, 2021 20:29:57 GMT 7
It will all end in tears, it always does.
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AyG
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Post by AyG on Jan 28, 2021 20:49:54 GMT 7
Hmmm, it looks like short sellers are trying to screw up the markets, with moderate success I'd say, I wish they'd get proper jobs...."let's stick it to the man" says one of them...brain dead turd! I think you may need to read the article again. Short sellers are a normal part of the market. They're not trying to "screw up" anything. They have proper jobs as hedge fund managers. The ones trying to "stick it to the man" are the other side - individuals who read Reddit and reckon they can make a lot of money by buying the stock, and at the same time making life difficult for hedge fund managers who have shorted the stock.
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Post by rgs2001uk on Jan 28, 2021 20:52:52 GMT 7
Hmmm, it looks like short sellers are trying to screw up the markets, with moderate success I'd say, I wish they'd get proper jobs...."let's stick it to the man" says one of them...brain dead turd! I think you may need to read the article again. Short sellers are a normal part of the market. They're not trying to "screw up" anything. They have proper jobs as hedge fund managers.The ones trying to "stick it to the man" are the other side - individuals who read Reddit and reckon they can make a lot of money by buying the stock, and at the same time making life difficult for hedge fund managers who have shorted the stock. , as soon as I see hedge funds mentioned, I turn and walk the other way, not for me thank you.
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chiangmai
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Post by chiangmai on Jan 29, 2021 7:21:18 GMT 7
I think you may need to read the article again. Short sellers are a normal part of the market. They're not trying to "screw up" anything. They have proper jobs as hedge fund managers.The ones trying to "stick it to the man" are the other side - individuals who read Reddit and reckon they can make a lot of money by buying the stock, and at the same time making life difficult for hedge fund managers who have shorted the stock. , as soon as I see hedge funds mentioned, I turn and walk the other way, not for me thank you. I'm in a hedge fund but not everyone can join, it's privet.
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AyG
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Post by AyG on Feb 1, 2021 16:59:18 GMT 7
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Post by rgs2001uk on Feb 1, 2021 20:16:13 GMT 7
Thanks AyG, a prime example of a puff piece, probably knocked out by some digital nomand type whilst supping a low fat latte at a a vegan fesival in Bali. Ponsonby Boothroyd-Smythe from the lower sixth could have knocked out something with more meat on it, whilst having a crafty smoke behinde the bicycyle sheds at Eton. Its not so much the article itself that bothers me, its more the probabilty some gullible people might take it as gospel. FFS, Brunner annual divi 2.3%, SM annual divi, 0.3%, these two funds should even be mentioned together in the same sentance.
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chiangmai
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Post by chiangmai on Feb 2, 2021 6:38:26 GMT 7
Ponsonby Boothroyd-Smythe is currently serving ten to fifteen in Wandsworth for the manufacture and supply of crack. He will resume writing articles for the media after he's released and he joins the family brokerage firm in The City.
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