AyG
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Post by AyG on Dec 24, 2017 9:05:32 GMT 7
I was attracted to Baillie Gifford Japanese when I was putting my investments together but decided on something with a broader country spread instead. That being said I remain attracted to that fund although I gather Sarak Whitely has now announced her retirement so I wonder if it won't go the same way as Stewart Investors Asia Pacific Leaders. (1) Sarah Whitley is co-manager with Matthew Brett. He became co-manager in 2008, so plenty of experience. I see no reason to worry about the transition.
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Post by rgs2001uk on Dec 25, 2017 22:18:48 GMT 7
The stockbroker portfolio consists of the 8 already mentioned ITs, there are then 14 other stocks/shares held, thats 22 different stocks to keep an eye on, plus Alliance Trust, so in total 23. I no longer have the appetite for it. I notice AyG, you have what, 29? Best of luck in managing that little lot. I strictly limit myself to 30 or fewer holdings. My late father was a terrible investor. He'd see an article in a newspaper and buy what was recommended. He never, ever, sold. When I dealt with his estate I had something like 100 small investments to sort out. And this was from the days before wrappers, so I had to deal with each investment company individual, many of which had been bought or changed names several times. Whilst I'm not planning on dying ever (and so far, so good), I'd hate my executor to go through the same grief I did. There was one investment I never did manage to track down. 30 holdings is far too many for most investors. However, for me it's a hobby, and I enjoy the exercise. However, life is made a bit simpler for me since (a) I first allocate by asset class, and have a clear top level asset allocation plan, (2) within each major class I have a simply rule which equates to "two thirds large cap, one third small cap", (3) I never invest in individual stocks, and leave it to the fund manager to do the detailed research and decision making. I also take a long term view. My best performing investment this year was Independent Investment Trust. I bought it back in the mid 2000s. It then crashed spectacularly. However, I rated the manager, Max Ward, very highly, and held on. This year it's returned just over 70% and was the best performing IT. I think if one does one's initial research thoroughly and only invest in the best fund managers, then one really only need to reevaluate if the manager quits, or has serious personal issues. This again, makes monitoring a lot of holdings that much simpler. JMG I think I've held even longer than IIT, though memory may be playing tricks on me. I think I bought it when it was managed by Flemings, who I worked for at the time. The business was subsequently acquired by JP Morgan Asset Management. If right, that would mean I've held it since perhaps 2002 or 3. Thank you for confirming what I have long suspected. Monitoring them certainly keeps the old grey matter ticking over. Years ago I used to enjoy putting computers together, custom building them. As my eyesight got worse and the ever increasing need to keep up to date with the latest specs, I sussed out it was cheaper to go to my local Somchai shop and have him build it to my specs, for the sum of 300 baht. I have mentioned before about ITs being the lazy mans way to invest, I am now convinced more than ever, its the way to go, pay others to make the choices, I can either choose to invest in them or not. For the record, that selling of JP emerg Markets, wasnt a spur of the moment decision, I have held them for years, and as nice as last years gains were, overall, they dissapointed.
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Post by rgs2001uk on Dec 25, 2017 22:21:54 GMT 7
Just a couple of points: I'm holding a couple of those funds rg. so I've seen the same gains. But I haven't seen the full benefit of them because I'm only reporting three months not twelve. I'm also reporting an average across all funds and it is a number that is after all expenses which is why there's such a difference between us all. As I recall Fletch, earlier, had said he expected this year to make 5% across the board which makes 7.3% positively stellar. These are only my thoughts, be aware, this year has been an exception, I dont expect to make the same sort of gains next year, or the year after, I may well not see these sort of gains for another 10 years.
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Post by rgs2001uk on Dec 25, 2017 22:44:57 GMT 7
PS, AyG, not mentioned, I have to simplify my portfolio to something my mrs can understand.
As mentioned before I spoke to Alliance Trust the other week, I wanted to transfer my shares to the wifes name, cannot do, they dont cater to overseas investors, and would want a National Insurance number for her.
I am more than happy with Alliance over the years, they did have a bad spell a few years back, but seem to have got their act together now.
The mrs has been to the UK and has met my stockbroker, he understands our needs, the main point being she is confident enough in the services he offers. In the New Year will have to head back to the CBD, UOB, and Aberden, lets see what they have to offer.
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chiangmai
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Post by chiangmai on Dec 26, 2017 6:58:58 GMT 7
PS, AyG, not mentioned, I have to simplify my portfolio to something my mrs can understand. As mentioned before I spoke to Alliance Trust the other week, I wanted to transfer my shares to the wifes name, cannot do, they dont cater to overseas investors, and would want a National Insurance number for her. I am more than happy with Alliance over the years, they did have a bad spell a few years back, but seem to have got their act together now. The mrs has been to the UK and has met my stockbroker, he understands our needs, the main point being she is confident enough in the services he offers. In the New Year will have to head back to the CBD, UOB, and Aberden, lets see what they have to offer. I'm no further ahead on that issue either rgs, let me know when you do start to look at local offerings and hopefully, I'll have done something in the new year and we can exchange notes.
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AyG
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Post by AyG on Dec 26, 2017 7:44:51 GMT 7
As mentioned before I spoke to Alliance Trust the other week, I wanted to transfer my shares to the wifes name, cannot do, they dont cater to overseas investors, and would want a National Insurance number for her. By the sounds of it you're using Alliance Trust's in house scheme to hold the shares. It's the scheme that's the problem, not the shares themselves. These days there's only one UK broker that I know of that will allow non-residents to open an account. Anyway, you might consider opening an offshore brokerage account for her (for example, with Internaxx in Luxembourg) and instructing the transfer of shares to that account. The only hitch you might have is that they may not agree to transfer to an account which is not in your name. You could also open a POEMS brokerage account for her with Phillips in Bangkok. However, I'm not sure how straightforward the transfer would be. This, however, would have the advantage that she could deal with them in Thai. However, I'm not sure about the tax situation.
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Post by Fletchsmile on Dec 27, 2017 16:02:52 GMT 7
Just a couple of points: I'm holding a couple of those funds rg. so I've seen the same gains. But I haven't seen the full benefit of them because I'm only reporting three months not twelve. I'm also reporting an average across all funds and it is a number that is after all expenses which is why there's such a difference between us all. As I recall Fletch, earlier, had said he expected this year to make 5% across the board which makes 7.3% positively stellar. Mmm not quite sure what the 5% referred to ![:)](//storage.proboards.com/forum/images/smiley/smiley.png) Overall my portfolios should be in double digit % s this year. Haven’t really had the time the last couple of weeks to analyze things in detail, and will probably do that anyway once the year has ended ![:)](//storage.proboards.com/forum/images/smiley/smiley.png)
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chiangmai
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Post by chiangmai on Dec 27, 2017 18:54:44 GMT 7
Just a couple of points: I'm holding a couple of those funds rg. so I've seen the same gains. But I haven't seen the full benefit of them because I'm only reporting three months not twelve. I'm also reporting an average across all funds and it is a number that is after all expenses which is why there's such a difference between us all. As I recall Fletch, earlier, had said he expected this year to make 5% across the board which makes 7.3% positively stellar. Mmm not quite sure what the 5% referred to ![:)](//storage.proboards.com/forum/images/smiley/smiley.png) Overall my portfolios should be in double digit % s this year. Haven’t really had the time the last couple of weeks to analyze things in detail, and will probably do that anyway once the year has ended ![:)](//storage.proboards.com/forum/images/smiley/smiley.png) Your 5% statement stuck with me, perhaps I have it out of context, let me do some digging - I'm headed South tomorrow so maybe not before I return, but I will clarify.
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Post by Fletchsmile on Dec 27, 2017 19:06:43 GMT 7
Mmm not quite sure what the 5% referred to ![:)](//storage.proboards.com/forum/images/smiley/smiley.png) Overall my portfolios should be in double digit % s this year. Haven’t really had the time the last couple of weeks to analyze things in detail, and will probably do that anyway once the year has ended ![:)](//storage.proboards.com/forum/images/smiley/smiley.png) Your 5% statement stuck with me, perhaps I have it out of context, let me do some digging - I'm headed South tomorrow so maybe not before I return, but I will clarify. Might have been expected returns on bond funds, compared to higher returns in the past. Seem to remember you saying something like your old bond funds had previously returned about 8% and I might have said 5% after charges may be more realistic going forward for a while ![:)](//storage.proboards.com/forum/images/smiley/smiley.png)
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chiangmai
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Post by chiangmai on Dec 28, 2017 3:58:24 GMT 7
That may well be what I recall you saying, apologies if it was repeated out of context.
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Post by rgs2001uk on Dec 28, 2017 21:35:12 GMT 7
As mentioned before I spoke to Alliance Trust the other week, I wanted to transfer my shares to the wifes name, cannot do, they dont cater to overseas investors, and would want a National Insurance number for her. By the sounds of it you're using Alliance Trust's in house scheme to hold the shares. It's the scheme that's the problem, not the shares themselves. These days there's only one UK broker that I know of that will allow non-residents to open an account. Anyway, you might consider opening an offshore brokerage account for her (for example, with Internaxx in Luxembourg) and instructing the transfer of shares to that account. The only hitch you might have is that they may not agree to transfer to an account which is not in your name. You could also open a POEMS brokerage account for her with Phillips in Bangkok. However, I'm not sure how straightforward the transfer would be. This, however, would have the advantage that she could deal with them in Thai. However, I'm not sure about the tax situation. 1, correct. 2, never heard of them but a quick google search reveals they are just down the road from Aberdeen and UOB, thanks for the tip, will make sure to make an appointment with them. 3, as for the tx, I will liquidate my Alliance Trust holdings in the UK, tx to Thailand then tx to Phillips, if thats the path I choose to go down. I mentioned before about the dozy cow in the local UOB branch who told me I couldnt open an account, I took it above her head and spoke to UOB, they assured me it wouldnt be a ploblem.
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AyG
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Post by AyG on Dec 28, 2017 21:43:01 GMT 7
3, as for the tx, I will liquidate my Alliance Trust holdings in the UK, tx to Thailand then tx to Phillips, if thats the path I choose to go down. That really shouldn't be necessary. You're going to lose out on the bid/offer spread. Do look at the possibility of simply transferring your holding to a new account. It might cost you GBP 25-50 in transfer fees, but still better than selling/rebuying.
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Post by rgs2001uk on Dec 28, 2017 21:58:12 GMT 7
^^^ spoke to Alliance already, they will only liquidate and tx my holdings to a UK bank account, they will not tx my holding overseas. Thanks for you help and advice.
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AyG
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Post by AyG on Dec 29, 2017 8:58:08 GMT 7
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AyG
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Post by AyG on Jan 1, 2018 14:45:34 GMT 7
I'll do my full reckoning on January 1st. And so I have. I hope this doesn't seem like boasting, but it's been a stonkingly good year for me (after a disappointing 2016). Over the year I'm up 22.5%, accounting in GBP. As mentioned previously, IIT did amazingly well at +77%. Also very good was JESC at +45%. The only holding that actually made a loss was Lyxor US TIPS (DR) ETF D USD GBP (-6.6%*). That said, Lyxor FTSE ActrUKGltInflLnkd(DR)ETF DGBP, RICA, and iShares J.P. Morgan $ EM Bond UCITS ETF USD (Dist) all returned less than 5% which is disappointing. The Thai baht is virtually exactly where it was at the same time last year (43.5675 v. 43.5575) so the returns in THB are virtually identical. * I bought part way through the year, so the loss is actually greater than the YTD loss.
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