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Post by rgs2001uk on Apr 6, 2018 23:36:01 GMT 7
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Post by Soutpeel on Apr 7, 2018 10:58:16 GMT 7
If your feeling brave have a go at some cryptos, buyers market at the moment, certainly for the likes of Ripple...
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Post by rgs2001uk on Apr 9, 2018 21:07:51 GMT 7
^^^, , I know I am stupid, but even I aint that effin stupid. Unless it carries the Fletch or Naam seal or approval, I dont touch it.
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AyG
Crazy Mango Extraordinaire
Posts: 5,871
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Post by AyG on Apr 9, 2018 22:19:40 GMT 7
Trading at a discount of 20% to NAV? Must be a bargain. Couldn't find any information about the IT on the manager's website www.harbourvest.com/ That's probably a good thing, keeping it all on the down low so only savvy investors find out about it. 7 of the top 10 investments are in the Cayman Islands, that famed centre of financial probity. Another great plus. How could you resist?
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AyG
Crazy Mango Extraordinaire
Posts: 5,871
Likes: 4,555
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Post by AyG on Apr 9, 2018 22:22:03 GMT 7
BTW, do you understand the fee structure? According to HL
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Post by Fletchsmile on Apr 10, 2018 2:57:06 GMT 7
Hadn't heard of it until you posted this. Not much on HL's website or Trustnet. The NAV returns on Trustnet look odd compared to HL and HPVE own website. Trustnet Shows a 22% 5 year return for NAV but 100.7% for share price. Share price return for Trustnet looks broadly in line with HL and HPVE, but that NAV return looks wrong, compared to the other two sources, particularly as it trades at a large discount. www.trustnet.com/factsheets/t/n9l1/harbourvest-global-private-equity. So looks like something that needs digging around to find info. The main attraction I guess, would probably be it's diversification aspect. By investment stage, 60% in buyouts, 32% in venture and growth equity, and 8% in Mezzanine www.hvpe.com/~/media/Files/H/Hvgpe/reports-and-presentations/estimated-monthly-nav/2018/28-february-2018-monthly-update.pdfI've held VCT's in the past and a big advantage of them for investors based in UK are the tax breaks. Used to get higher rate tax relief and possible rollover of capital gains. None of the ones I held really lived up to expectations. The problem is for every winner they pick, because of the early stages these can get outweighed by others that don't do so great. So not sure whether I'd go for something in that space without the tax break. Neil Woodford in his Patient Capital Trust has also shown how difficult it can be in this space, and how easy it is to pick the wrong bets. So despite the potential for some really large winners in HPVe's 7500 investments, I'm not convinced whether they would be any better than just a simple equity fund in listed markets in terms of returns alone, once the others drag down the successes. Ball park doubling your money over the last 5 years is decent. But many other plain funds have too Large focus on US markets (over half) and USD currency exposure (76%). The USD currency exposure isn't really something I'd want for the moment. Probably something that should be looked into further if interested. What were your brokers reasons for recommending? I could see space to have a punt. But it would be just that really without knowing and understanding more. That and the diversification aspect. Not something to allocate large chunks of money to. But a 5k punt knowing you have the rest of your portfolio sorted already may be interesting to see how it fares.
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Post by rgs2001uk on Apr 10, 2018 21:26:48 GMT 7
^^^ Fletch, wasnt recommeneded, was mentioned in dispatches as something that might interest me. As you already know, I hold, Monks, Witan, Scot Mort and Alliance, also hold Bankers. I was thinking about buying F&C, www.hl.co.uk/shares/shares-search-results/f/foreign-and-colonial-investment-tst-ord-25pand adding to Bankers, www.hl.co.uk/shares/shares-search-results/b/bankers-investment-trust-ord-25p-shareStockbroker mentioned I would basically be buying more of the same, he also mentioned diverersity, which I can accept. I told him I had previously held, www.hl.co.uk/shares/shares-search-results/3/3i-group-ordinary-73-1922pCheck out the premium, hence why Harbour was mentioned. Too cut a long story short, I told him I wasnt interestd in Emerg Markets, or FE/Asia, I wanted only trusts in America, Europe or UK He mentioned the following which might interest me. www.hl.co.uk/funds/fund-discounts,-prices--and--factsheets/search-results/a/artemis-us-smaller-companies-class-i-accumulation www.hl.co.uk/shares/shares-search-results/f/fidelity-european-values-plc-ordinary-2.5pwww.hl.co.uk/shares/shares-search-results/e/european-assets-trust-nv-eur-0.46-regdwww.hl.co.uk/funds/fund-discounts,-prices--and--factsheets/search-results/m/marlborough-special-situations-class-p-accumulation www.hl.co.uk/funds/fund-discounts,-prices--and--factsheets/search-results/s/standard-life-inv-global-smaller-companies-s-accumulation The above will be held for at least the next 5 years, performance will be monitored, the funds invested will acount for about 6% of my portfolio, so hardly top heavy. The Harbour would basically be a "free bet" using the dividends from elsewhere.
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Post by rgs2001uk on May 2, 2018 22:52:00 GMT 7
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Post by Fletchsmile on May 3, 2018 13:15:35 GMT 7
I see you went for the smaller companies focus there rgs. I notice 2 of the are on HL's Wealth 150 list which is usually a factor I also consider for unit trusts. Not to say I won't take a fund not on the list, but it's usually a positive attribute
I like Marlborough as a fund management house. Smaller niche player and smaller companies seems to be an area in particular they do very well. I hold and have been very happy with Marlborough UK Micro Cap, which is run by the same manager Giles Hargreaves. UK Microcap is slightly cheaper at 0.74% p.a. vs 0.79% p.a. so appears on their Wealth 150+ list, which are their quality fund picks combined with lower charges.
Standard Life investments as a fund management house also seem to fare quite well on smaller companies.
Artemis is the one of the 3 not on the HL Wealth 150, and although looks reasonable out of the 3 it also happens to be the one I'd have least conviction in although it's still reasonable. It's performance is a bit behind the others. Given the solid run in US and US smaller companies in recent years, I think other regions may offer better opportunities. Worth bearing in mind that Standard Life as a global fund will have a large weighting to US anyway, and I'd prefer the flexibility of Standard Life.
That said on the flip side, when it comes to innovation and hence smaller companies potential the US is definitely right up there in terms of innovation. Also Artemis US smaller seems to create alpha and has outperformed things like ISP6 (US Smaller company ETF), so has the potential to outperform indices. On another point I tend to prefer active funds to index trackers when it comes to smaller companies. Generally it's an area active fund managers can add value in my view.
Not sure why you're avoiding Asia and EM. Maybe because you already have a decent weighting in Thailand thru the likes of Aberdeen and UOB which I know you hold. But for me, Asia and EM have had tougher recent years than developed markets like in particular US, so at this point in time offer in my view more potential. The diversification aspect is useful too. In the 2000's when US equities had a lost decade, EMs and Asia could bring some nice relief. So not surprising in the next decade US has done some catching up, and they have been weaker. I feel it's getting time to change back again to an extent tho
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Post by rgs2001uk on May 3, 2018 22:02:49 GMT 7
Well observed Khun Fletch . Diversification, as you and others are already aware, I am top heavy in ITs. Putting my "big toe" in the water and venturing outside my comfort zone, never too old to learn new tricks. Asia and EM, you are correct, too be honest I dont consider my investments here as part of my overall portfolio, I invest here because its better than leaving the money in the bank. As you are already aware, I have done well over the years out of Thailand, I remember getting into the SET when it was about 200+ www.westga.edu/~bquest/2003/asian.htm
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Post by rgs2001uk on May 3, 2018 22:40:51 GMT 7
Fletch, FYI,I know you like this stuff.
This is what I hold with the stockbroker, its about 40% of my portfolio, for those reading, these arent recommendations, and certainly aint for the fainthearted.
Cash, already been mentioned and reinvested.
UK Equity Funds, BlackRock Smaller Cos Trust
Global Equity Funds
Bankers Investment Trust
Brunner Investment Trust
Fundsmith Equity I Inc
Monks Investment Trust
Scottish Mortgage
Templeton Emerging Markets
Witan
Witan Pacific Investment Trust
Financials Prudential
Health Care Worldwide Healthcare Trust
Technology Polar Capital Technology Trust
Oil & Gas BP, Royal Dutch Shell B
Basic Materials Croda International, Rio Tinto.
As you already know, and has been mentioned before, I hold about the same amount of worth with Alliance Trust (40%)
20% is held in NS&I, but that will change this year, and NS&I will be reinvested in the above.
As mentioned the above isnt for everyone, and it sure as heck aint for the novice, please dear reader DO NOT take these as recommendations.
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