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Thread: BeeBop does UK

  1. #41
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    As I have now transferred hemispheres (again), it is time for another short update. On May 11th, I said that I had sold one of my large global funds, I had sold most of it but not all. So recently, I sold the remains and put it into my Japan small cap fund (BGS.L). Luckily, I did the transfer following a bit of a two week boom on the fund and into a price/NAV discount on my BGS.L so the portfolio is decidedly healthy.

    TRI.L reported last week and yet again, it performs steadily. Cross checking its metrics against my targets there is no reason to sell. It is no longer a high growth stock as one of my key metrics is just shy of target but well within a healthy level. It, however, now makes up 14% of my growth portfolio and I don't want to have a single share taking up much more than 10%. As I have concentrated my holdings down, a decent weighting is acceptable. Another solution to this weighting is to merely add some more funds to the portfolio and another share which would dilute the holding a tad - a bit sneaky but it will do the job.

    So over the past two weeks my growth performers have been TRI.L, MNKS.L, JEO.L, and THRG.L.

    In the education/conservative portfolio, sweet nothing has happened. LLOY.L is like watching paint dry and VOD.L is so fickle that I am fed up. That will be sold once it gets back to its last cycle top (it seems to like going up and down according to which way the wind is blowing). Nice dividends though!!

    On the cash front, I have yet another stash lost in the ether - international banking is a dang humbug.
    Last edited by BeeBop; 16-06-2018 at 04:53 PM. Reason: Typo JEP.l should have been JEO.L

  2. #42
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    What a week but what a surprise for me as the folios barely noticed the swings, although as of last night, at a new all time high (just). Fortunately, the missing funds have shown themselves AND another tranche of funds will come available. Needless to say that my reading over the past few weeks has me lined up for some new purchases.

    The funds will be unfairly split over my two folios: 2/3 into education and 1/3 into growth. The education folio gets most as most of the money is a company refund for insanely expensive UK fees. I was intending to put 1/3 into the property IT, REIT.L, but I may put it into SLI.L as a slightly more liquid alternative both are good and have good yield. Another 1/3 will be into EAT.L a European small/mid assets trust, again paying a high yield. This will give me good weight in Europe (as the growth folio) has a European Growth IT in it (JEO.L). The final 1/3 is into the growth folio and should be BBT.L, which is a world-wide healthcare trust running at a small discount to NAV. We shall see (1) how well the funds initially arrive (2) if I can transfer them out to the target account without them hitting the ether again (3) if I get the buys placed well and (4) if the folios remain steady.

    VOD has started to go up! Albeit fractionally.

  3. #43
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    Quote Originally Posted by BeeBop View Post
    What a week but what a surprise for me as the folios barely noticed the swings, although as of last night, at a new all time high (just). Fortunately, the missing funds have shown themselves AND another tranche of funds will come available. Needless to say that my reading over the past few weeks has me lined up for some new purchases.

    The funds will be unfairly split over my two folios: 2/3 into education and 1/3 into growth. The education folio gets most as most of the money is a company refund for insanely expensive UK fees. I was intending to put 1/3 into the property IT, REIT.L, but I may put it into SLI.L as a slightly more liquid alternative both are good and have good yield. Another 1/3 will be into EAT.L a European small/mid assets trust, again paying a high yield. This will give me good weight in Europe (as the growth folio) has a European Growth IT in it (JEO.L). The final 1/3 is into the growth folio and should be BBT.L, which is a world-wide healthcare trust running at a small discount to NAV. We shall see (1) how well the funds initially arrive (2) if I can transfer them out to the target account without them hitting the ether again (3) if I get the buys placed well and (4) if the folios remain steady.

    VOD has started to go up! Albeit fractionally.

    Thanks for sharing your investment history, I appreciate at as I know few people investing over there now.

    The AIM market has more loser than winner over its history, I have had large and long term investments in Britain's two listed pawnbrokers, Albemarle & Bond and H&T. Done well as an investment if you understand the business.

  4. #44
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    Quote Originally Posted by Raz View Post
    Thanks for sharing your investment history, I appreciate at as I know few people investing over there now.

    The AIM market has more loser than winner over its history, I have had large and long term investments in Britain's two listed pawnbrokers, Albemarle & Bond and H&T. Done well as an investment if you understand the business.
    Thank-you Raz,

    I will take a look at your two investments out of interest. You are right about the AIM as my biggest looser was from there...but also my biggest winner. Now I am focusing on BlackRock’s Throgmorton Invesment Trust (for small caps) instead while running my winners...selling my small holdings (e.g. Speedy Hire). Overall, I have won nicely in the AIM but as my skin in the game becomes more important, I feel the folio should have diversification in small caps. Easier for me to focus on other invesments too without runnning after small cap individual holdings.

  5. #45
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    With the economic crisis in Turkey, the risks of a no-deal in Brexit, and the tension in Iran all on my radar as each issue can have a significant bearing on my day-to-day life. Turkey provides military security and food to my adopted home, Iran provides food and is threatening a sea-strait block, and the no-deal brexit affects my GBP savings and next house purchase. With these in mind, my investing is active.

    As the GBP has fallen significantly against the USD again, I am funnelling as much USD over there as possible. This means more investing in the short-term and me as a happy camper (literally).

    My last set of purchases were completed at a good exchange rate. I bought SLI.L, MRCH.L, and BBH.L. Both SLI and BBH have gained (well BBH is has grown 10% in 5 weeks) and all have gone ex. dividend. MRCH, even with dividend accounted is down about 2% so I am not really complaining. SLI is a Property REIT, MRCH is. boring old FTSE income trust that, at the time of purchase, had a 6% DY and no tobacco stocks. Unfortunately, the devils have just bought into Imperial Brands so I indend to sell out as soon as I have a reasonable exit point (tobacco is against my investing rules). BBH is a global healthcare trust that was trading at a discount when I bought and has gone very well.

    The overall portfolio is up with nothing showing any significant hits. I am selling some of my small cap specs (e.g. BOOT, SDY) as I will buy more of what I already have - the small caps can go into BlackRock’s Throgmorton which again, has been doing nicely.

    Methinks that this Investment Trust lark suits me quite well especially as I buy on the discounts and there are hundreds to choose from including plenty of on-line material to read and chunk through. I can also just walk away and leave it without too much stress.

    Now I must off, as I am finalising my 300km backpack hike in the UK...scored some BackCountry freezedried meals from Invercargill so I shall enjoy them from the side of my 1 person Hilleberg Akto tent whilst nursing my pained feet.

  6. #46
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    Cool slice of life..

  7. #47
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    BeeBop thinks it is time for another update....and this time folks....the update is dead flat! I daresay that is a good thing. My star fund Monks, is down at end of December levels. My European fund is now down at March levels, however, much of the remaining stock is flat (in list price) but dividends have paid out.

    At times like this, I am forever thankful that I beat up my greedy side. In recent months I have been sorely tempted to release my cash holdings and to stop saving. My cash is in a Jersey Island cash account earning a fantastic 0% in interest. However, this cash allows me to pay horrendously expensive UK boarding school fees, and deal with crises that may arise within an 18 month time horizon. For NZ residents my degree of cash holding would be ridiculous but for an expat in a volatile sector of the world, it is seemingly wise insurance. I have no need to realise any sharemarket stocks for at least 18 months as of today.

    While the stockmarket has been decidedly inactive for me (due to its own hyper-volatility), I have focused on my property folio. The numbers are bigger and, I would even deign to say, the risks/impact higher, and for me, really boring. But the opportunity is here and seemingly the council are happy with plans. I just hope that the expensive and slow journey to consent is worth it (at least I am capitalising my expenses so that my balance sheet stays the same).

    Now I must get back to the Jamal Khashoggi murder mystery: Did MBS order it? Has it been staged? Will the "truth" come out? Will the "Davos in the Desert Desertion" be the start of the investment decline in Saudi? Will there be leadership pressure from within? Will Saudi be able to hold anything over global oil prices in 2018 and create oil price chaos if it doesn't go their way? Intriguing and dangerous for the world's economy.

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  9. #49
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    Quote Originally Posted by Valuegrowth View Post
    SMT is s more concentrated version of my monks....Lloyd’s ever popular but it remains in the dole drums....I will need to wait years, meanwhile I clip the dividends.

  10. #50
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    BeeBop is merely treading water....and ever thankful for the sell down on funds with high exposure to US based tech and caution towards the US. Net result is a ‘yawn yawn’ period. The dividends are fruiting nicely, my three NZ holdings still have annual (decently modest) gains, but my pure UK holdings (of which I have only two) are flaccid, albeit, one delivers a 6% yield.

    My (by life direction as opposed to intelligent choice) hedging is keeping the investments in USD positive territory. The declining GBP reduces my MRCH.L fund value (6% yield though) but increases my ability to purchase GBP and thereby costs of education and investments in other UK listed trusts that are comfortable. I wish I could buy NZD as the moment though, as I have good investment opportunities there. However, my current plan involves GBP and I am doing my best to stay focused.

    Meanwhile, I am now ‘holed’ up in Christchurch, NZ, lamenting my focus and wishing I could change direction and buy a central city townhouse. Christchurch is amazing, the support services, the hospital, the townplanning, and the open spaces. Why, this week, could the weather not be better?

  11. #51
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    THis is merely a brief update as very little has changed. I have stuck to my focus and my shares/investment trusts have recovered from their Xmas eve rout.

    I did manage to sneak some NZ share purchases...shhhh...don’t tell the spouse....

    Mostly, I now am back into sending GBP to the UK market. I optimised my buying at 1.27 USD to the GBP and am thinking that I am going to buy a holding in Diageo as a very long-term quality company and add to one of my property REITs. I did have a “little bit” of good news with one REIT (MedicX) being merged into Primary HealthCare properties (PHP) which gave an instant +14% uplift. I shall also add to my healthcare REIT holdings as there is no stamp duty to pay on them making it easier to pound-cost-average into the holding.

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    Diageo - ah yes, every time I pass through duty free I try and pick up a bottle of one of their whiskies. The aim is to drink myself rich.

    It doesn't seem to be working very well as of yet, but I am enjoying trying. . .

  13. #53
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    Quote Originally Posted by GTM 3442 View Post
    Diageo - ah yes, every time I pass through duty free I try and pick up a bottle of one of their whiskies. The aim is to drink myself rich.

    It doesn't seem to be working very well as of yet, but I am enjoying trying. . .
    Put a dart board in front of your drinking chair with some shares to aim for....may well get rich that way....or by Diageo directly via an offshore broker....less CGT!

  14. #54
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    Quote Originally Posted by BeeBop View Post
    Put a dart board in front of your drinking chair with some shares to aim for....may well get rich that way....or by Diageo directly via an offshore broker....less CGT!
    My gains from Diageo are slightly outstripped by my losses in Anheuser-Busch InBev SA/NV (ABI.BR), so the NZ CGT position would be roughly neutral.

    But what's the world coming to when you can't make a buck on the world's biggest brewer!

  15. #55
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    Probably a good time for a little update. I must admit that I didn’t buy Diageo; definitely a quality share but I had a second fortunate surprise with yet another “buy-out” so decided to finally buy into some Asian shares via a listed investment trust (with no stamp-duty) and buy into some commodity metals as I thought I might take a bit more of a buy-low approach with the funds.

    I had been holding a telecommunications company (MANX.L) based in the Isle of Mann. It hadn’t really done anything on a capital gains basis for me but it had been spitting out a neat wee 6% yield for me and formed a base to pay a portion of the child’s school costs. It seems that others are beginning to see the value in the UK as a takeover came out and I got out for a +31.7%. The profits from that and my extra cash were funneled into Central Asian Metals and Henderson Far East Ltd. Both listed on the UK markets and stamp-duty free.

    As a side, my “small” NZ purchases on January 3rd are paying off nicely. SCL is about to hit $5 (and I got the dividend days after buying), and SKL has done quite nicely too. My SCT is merely sitting there doing not much and IFT is doing very nicely. If this were three years ago, I would be selling and reducing a flexible mortgage but again, as the LVR is low, I might as well stay invested for the long haul.

    The UK markets is about to open as I type and it looks like another good day. Overall a modest uplift since January but nothing spectacular. As the brexit debarkle is going to come to some kind of conclusion soon, I am preparing to invest back into USD. My current plan for that is to do what I don’t prefer and that is to purchase an ETF (Vanguard) which specializes in global infrastructure with a decent yield and overall a good annualized return over the past 10 years.

    We shall see how things go; good things take time, and it seems that time struggles to fail me on long holds (mostly).

    Happy international investing to those of you that do,
    BeeBop.

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    On April 1st, I typed that I had "modest uplift since January but nothing spectacular". That would mean that the past three weeks have been spectacular. Asia has flown, my global investment trust: MNKS.L (a more balanced sibling of Scottish Mortgage Trust)...and then, my main win has been my conviction stock; the Industrial share: Trifast TRI.L listed on the UK's AIM market, however, it now means that my portfolio is 17% loaded with this stock (shhh....don't tell any trained Financial Advisors). My metals purchase in February has merely delivered a 1.27% gain so far but a great dividend is due shortly.

    For my USD, I purchased into an exchange traded fund on the NASDAQ (IGF), an iShares ETF covering Global Infrastructure. I liked it due to its ability to hold out in more volatile recent markets (it didn't hold out well in 2008 but it listed in the peak of 2007). The
    yield is a tidy 3.5% with a good presence in Australia, North America, Asia and Europe. I found that some of the other options were more weighted to the USA with much lower presence in lower hemispheres. This one is now tucked away in a new folio for child's post secondary education, whatever that may be, and in whatever country that may be. I will probably add to it as well as pick up another ETF or two.

    Meanwhile my NZ stocks seem to have settled into their new price ranges...until the next reporting time, I don't expect anything much there. I will just have to sit and take a good dose of self-control and try not to fidget too much...I am so much better now than I was many years ago.

    Happy Easter break to all
    BeeBop.



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    just to say, I enjoy the updates on your investing journey BB.

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    Quote Originally Posted by nizzy View Post
    just to say, I enjoy the updates on your investing journey BB.
    \

    Thanks Nizzy, knowing that it is being read makes it worth posting. I appreciate you posting that.

    BeeBop

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    Hi BeeBop, also interesting reads. I also invest in investment trusts with a large holding in Scottish Mortgage, low cost active management which compliments my passive index vanguard funds. Investment trusts are not really advertised in NZ, a pity.

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    Voltage:

    Thank-you to you too.

    Ah, Scottish Mortgage...very much the big sister to my Monks (which is a tad more diversified than SMT but both Baillie Gifford globals). I did seriously consider SMT as an alternative to MNKS but at the time had a managed fund that was high in tech (I sold it last June when the race up had been exciting). I think SMT will continue to go from strength to strength due to their holdings in unlisted companies. I am so excited to hear that someone else is into SMT....my MNKS now makes up 22% of my UK growth folio so I daren't switch it into the more aggressive but superb SMT.

    Sadly, I saw that the NZX is listing more iShares (BlackRock) on the NZX...what a pity as it is just driving "standard performance". There could well be a business opportunity for someone to set up an IT in NZ all in NZD. That said, Bankers, F&C, Henderson's FE, City of London, and Templeton EM are all available. Banker's was a great one for me (I bought it 2010)...and sold after a 120% run up and decided to pay off one of my Auckland property mortgages with it in 2013...back in the day when I was securing gains.

    It is a pity that more investors don't know about these sorts of "shares". There is definitely a place for ETFs but it seems investors are getting very caught in the "low fees" angle, rather than looking at overall performance. Currently I hold only one ETF and that is on the NASDAQ - IGF. It is run by Blackrock (iShares)...and is a "bottom draw" medium/long hold (University fees for child)....

    Now on to a subdued Monday morning for me, nothing much happens on the UK exchange until the USA opens...no company updates etc....and Asia wasn't exciting this morning either.

    Have a good night,
    BeeBop.

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