|
Post by rgs2001uk on May 8, 2019 20:26:19 GMT 7
|
|
AyG
Crazy Mango Extraordinaire
Posts: 5,871
Likes: 4,555
|
Post by AyG on May 8, 2019 20:50:27 GMT 7
|
|
|
Post by rgs2001uk on May 8, 2019 20:59:09 GMT 7
^^, I am invested in SM, it accounts for about 10% of my stockbroker account.
|
|
AyG
Crazy Mango Extraordinaire
Posts: 5,871
Likes: 4,555
|
Post by AyG on May 8, 2019 21:02:58 GMT 7
^^ So what's the problem?
|
|
|
Post by rgs2001uk on May 8, 2019 21:19:45 GMT 7
For me no problem, if SM does nothing for the next 5 years I will still be happy with its performance over the years and the returns I have had.
I am trying to downsize my holdings, I can also appreaciate, dont put all your eggs in one basket, but they look same same to me, eg, America and tech heavy.
|
|
|
Post by rgs2001uk on May 8, 2019 23:15:24 GMT 7
Mr AyG, back of a fag packet calculations, as mentioned before, SM accounts for about 10% of my stockbroker portfolio, after a quick check, the following account for 40% of my stockbroker portfolio, SM, Monks, Witan and Croda, stockbroker account only.
Portfolio overall, can be broken down into, stockbroker account 50%, Alliance Trust 30%, Thailand holdings 20%.
Alliance continues to lead a charmed life, everytime I want to offload it, I run into UK BS about opening an account elsewhere, I believe CM has had the same problems.
I appreciate, the above isnt for everyone, and it sure isnt a recommendation for anyone reading this forum who is new to investing.
|
|
|
Post by Fletchsmile on May 9, 2019 11:38:02 GMT 7
^^, I am invested in SM, it accounts for about 10% of my stockbroker account. I hold SM, in my Singapore IT portfolio.
Funnily enough in this context of the previous posts, partly because I can't buy LT Global or Fundsmith via Singapore
It does have a high US weighting at around 51% - so between LT and Fundsmith, for US.
But it's a bit different as it currently has 2 main other regions: Eurozone/European about 21% and China 23%.
Quality fund management group - Baillie Gifford - strong historic performance.
Higher on the risk scores, but am not too worried if it's already part of a well diversified portfolio. Trades at a premium - bit annoying. Big enough though that you can usually get reasonable volumes and spreads / liquidity when you want them
|
|
|
Post by Fletchsmile on May 9, 2019 11:46:26 GMT 7
Mr AyG, back of a fag packet calculations, as mentioned before, SM accounts for about 10% of my stockbroker portfolio, after a quick check, the following account for 40% of my stockbroker portfolio, SM, Monks, Witan and Croda, stockbroker account only. Portfolio overall, can be broken down into, stockbroker account 50%, Alliance Trust 30%, Thailand holdings 20%. Alliance continues to lead a charmed life, everytime I want to offload it, I run into UK BS about opening an account elsewhere, I believe CM has had the same problems. I appreciate, the above isnt for everyone, and it sure isnt a recommendation for anyone reading this forum who is new to investing.
What's the issue with Alliance?
It's an OK 2nd quartile / bit above average performer, but wouldn't necessarily want 30% of my portfolio in it.
Unless it's in some sort of wrapper like a SIPP or even ISA where you are thinking of the tax, why couldn't you just sell it, move the money to an offshore broker that gives access to investment trusts, then buy what you want with it there.
eg StanChart Singapore has a crude platform, unsuitable for (day) trading. But as a buy and hold it's functional, and I can buy whatever investment trusts on LSE I want thru them. Interactive Brokers etc would also allow you to easily buy ITs (Ludacris uses I think), and I'm sure AyG's non-UK platforms do too.
or couldn't you just sell and give proceeds to your stockbroker?
|
|
AyG
Crazy Mango Extraordinaire
Posts: 5,871
Likes: 4,555
|
Post by AyG on May 9, 2019 12:34:40 GMT 7
why couldn't you just sell it, move the money to an offshore broker that gives access to investment trusts It isn't quite as straightforward as that. When I decided to move my investment trusts from Luxembourg to Singapore (Saxo), I discovered there were four of them which could not be transferred. Saxo didn't support all of the LSE ways of trading, and these four were traded in an unsupported way. (Sorry I can't be more specific than that.) So, it's necessary to check with the broker whether they have the necessary access for your choice of trusts. In the end, being forced to keep my Internaxx account turned out for the best. Saxo increased their costs three times over a few months. Internaxx dropped theirs, so I transferred everything back to Luxembourg and closed my Saxo account. Bit miffed that I had wasted the Internaxx transfer out charges, though.
|
|
|
Post by Fletchsmile on May 9, 2019 12:53:22 GMT 7
OK, so if someone wants to do inspecie transfers (transfer the investments) instead of selling the funds that may be an issue on what will / not be accepted into the new provider. In that case if you really want to retain the investment, and the new provider doesn't do it, then you may have to keep the existing legacy account as in your case. That's par for the course But you can still just sell them as I suggested. Then move the cash, and pick something else. In rgs' case he seems not to want 30% in Alliance Trust. So sell for cash. Move cash seems a simple solution. The disadvantage with ITs of course is they have a bid-offer spread, possible liquidity issues, discounts/premiuns that move around, brokerage fees on buy/sell etc etc. Unit trusts/OEICs with single pricing are simpler and cheaper to move in and out of via cash. Another solution is to trade out of the investments over time. Leave it with the old / legacy provider until no longer wanted. Then sell for cash, move the cash and buy the new wanted investment with the new provider. I say over time as it can even be done in parts rather than full.
BTW For anyone wanting to do inspecie transfers into a new provider / transfer the investments, it's worth checking exit charges. Often charges for investment trasnfers are more than for cash. May be the same or higher, but very rarely does it cost more to transfer out cash compared to an investment.
Anyway still don't understand what rgs issue is with Alliance? What stops him selling if not wanted and then moving the cash?
|
|
|
Post by Fletchsmile on May 9, 2019 13:28:24 GMT 7
Morningstar's data can still be quite good.
Where they've fallen down for me is that over the years, they haven't really moved with the times in terms of functionality and ease of use of their website.
It's more cumberson to navigate/ process, and less intuitive. eg couldn't see how to easily compare LT Global to SMT, starting with SMT
While they gave say 5 stars, there's little commentary on their views of why, fund management house, fund manager etc
It's still OK for data, just for me hasn't really kept up with the times. Lipper is another one
Maybe also just what you get used to. I used to use MorningStar a lot but have just drifted away from it.
The Thai version of Morningstar is partcicularly cumbersome to navigate around. Although that said, they're best of a bad bunch for domestic Thai funds - if they could sort out the EN / TH versions properly. Don't mind reading Thai if I have to, but Thai is cumbersome and not quick to read.
|
|
AyG
Crazy Mango Extraordinaire
Posts: 5,871
Likes: 4,555
|
Post by AyG on May 9, 2019 13:51:20 GMT 7
Morningstar does describe its methodologies for its ratings at www.morningstar.com/research/signature?cid=CON_DOT0003The star ratings are pretty much mechanical, so there's no commentary to be had. The analyst ratings, however, are always backed by a detailed commentary. I agree about the comparison issue. I use Trustnet for that. I find their "comparison charting" and from there their "comparison report" very handy at times. www2.trustnet.com/Tools/Charting.aspx(Do, however, sometimes have to use the Trustnet Offshore version of the same tools simply because of fund coverage.) The Thai version of Morningstar is, indeed, pretty dire. Their fund charges are usually wrong. (They use the maximum permitted charge - not the actual charge.) A quirky alternative that I also use is www.wealthmagik.com/Index.aspx (Thai language only). Data, however, are frequently lacking, e.g. up to date dividend data.
|
|
|
Post by rgs2001uk on May 9, 2019 22:24:42 GMT 7
Mr AyG, back of a fag packet calculations, as mentioned before, SM accounts for about 10% of my stockbroker portfolio, after a quick check, the following account for 40% of my stockbroker portfolio, SM, Monks, Witan and Croda, stockbroker account only. Portfolio overall, can be broken down into, stockbroker account 50%, Alliance Trust 30%, Thailand holdings 20%. Alliance continues to lead a charmed life, everytime I want to offload it, I run into UK BS about opening an account elsewhere, I believe CM has had the same problems. I appreciate, the above isnt for everyone, and it sure isnt a recommendation for anyone reading this forum who is new to investing.
What's the issue with Alliance?
It's an OK 2nd quartile / bit above average performer, but wouldn't necessarily want 30% of my portfolio in it.
Unless it's in some sort of wrapper like a SIPP or even ISA where you are thinking of the tax, why couldn't you just sell it, move the money to an offshore broker that gives access to investment trusts, then buy what you want with it there.
eg StanChart Singapore has a crude platform, unsuitable for (day) trading. But as a buy and hold it's functional, and I can buy whatever investment trusts on LSE I want thru them. Interactive Brokers etc would also allow you to easily buy ITs (Ludacris uses I think), and I'm sure AyG's non-UK platforms do too.
or couldn't you just sell and give proceeds to your stockbroker?
The issue isn’t with Alliance performance, it’s the volume of shares held, I concur, I don’t want 30% of my portfolio in one company. It wasn’t something that was planned, it’s just the way it’s worked out, and the situation needs to be resolved. The easy solution would be to offload and transfer a %age of the shares held and reinvest with stockbroker, what to buy? The easy solution would be to split into SM, Croda,Witan and Monks.
|
|
|
Post by Fletchsmile on May 10, 2019 10:16:21 GMT 7
The issue isn’t with Alliance performance, it’s the volume of shares held, I concur, I don’t want 30% of my portfolio in one company. It wasn’t something that was planned, it’s just the way it’s worked out, and the situation needs to be resolved. The easy solution would be to offload and transfer a %age of the shares held and reinvest with stockbroker, what to buy? The easy solution would be to split into SM, Croda,Witan and Monks. Check exit fees (if any) on whoever you are holding them with.
Rather than transfer a % of the shares, it may be cheaper to sell a % of the shares, then move the cash to your stockbroker.
Of those you mention: I'd rather hold Monks and SMT than Alliance.
I'd also rather hold Lindsell Train Global and Fundsmith than Alliance.
All 4 of those are in the same global sector as Alliance.
One simple solution: take say 20% of the 30% in Alliance and give 5% each of those 4. Much better spread, risk, historical performance, quality of fund managers etc etc.
Don't think Witan adds much if you have those 4, and Croda isn't something I'd want to add to if already held - and to be honest wouldn't want anyway as a single company.
|
|
|
Post by Fletchsmile on May 15, 2019 15:13:30 GMT 7
Looks like that storm in the tea cup is over for now... ============================================= Guernsey lifts suspension of Woodford’s Industrial Heat sharesGuernsey's International Stock Exchange (Tise) has lifted the suspension of dealings in fund manager Neil Woodford's shares in cold fusion specialist Industrial Heat. The shares, along with Woodford's stakes in Benevolent AI and Ombu, were suspended on 11 April. The lifting of the suspension to the shares in Industrial Heat this evening follows the lifting of the Benevolent AI and Ombu suspensions three weeks ago. citywire.co.uk/wealth-manager/news/guernsey-lifts-suspension-of-woodford-s-industrial-heat-shares/a1229488
|
|