Guitarsolo
26 Jan 2018
Re: Divi Announcement I think we can expect to see 3 x 0.99p followed by the usual 1.45p final dividend (so 4.42p for the year). For me, as a long term holder, the crucial figure is the full year EPS - which we tend to learn around early October. Last year it was 4.66p and needs to be better still if we are to get a slightly better tick-up in the dividend next year (0.01p per quarter for three quarters is about as little as they could make!). It would be nice to return to dividend increases at least matching inflation (say 2.5%). Guitarsolo
Windlesham Don
19 Jan 2018
Re: Divi Announcement Ooops, yes, wishful thinking!
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BeaglePup
19 Jan 2018
Re: Divi Announcement I think you meant 0.99p? If only...
Windlesham Don
19 Jan 2018
Divi Announcement This site really is a pile of...The newsfeed for this IT seems to have stopped a couple of days ago, so if anyone is interested NCYF yesterday announced their next divi of 99p, payable on 28/02 to those on the register on 26/01 (xdiv 25/01)...
budu
13 Jan 2018
Re: HSBC VS HARGREAVES LANSDOWN noted with thanks
Ben Alligin
12 Jan 2018
Re: HSBC VS HARGREAVES LANSDOWN The AIC have done a comparison for investing in Investment Trusts, and I assume that the charges will be much the same if you are investing directly in equities. The comparison is at: [link] charges for funds (unit trusts, OEICs) can be much higher as they are often percentage based. I use HL and iWeb.
budu
12 Jan 2018
Re: HSBC VS HARGREAVES LANSDOWN A bit off-topic but I am thinking of switching from a traditional broker to Hargreaves. They seem to have a good reputation but maybe there are better deals elsewhere. Can anyone please point me to a comparator site for investment platforms?
IOMINVESTCOM
11 Jan 2018
Are investors buying bonds at just the wrong time? [link]
Lazy M
11 Jan 2018
Re: HSBC VS HARGREAVES LANSDOWN FreddieYes. Hargreaves are a very efficient lot. Purchased more European Assets and Genesis Emerging Markets on Wednesday. Although Hargreaves did say that not all Investment Trusts have complied with the new requirements. They are also really efficient at handling 'odd' situations such as takeover share changes etc.
freddie99
10 Jan 2018
HSBC VS HARGREAVES LANSDOWN Impossible to buy these through HSBC Invest Direct at the moment because of their failure to make the necessary KID documentation available to potential investors on their platform. Hargreaves Lansdown has already got the necessary information up and running!
Badders21
29 Nov 2017
Re: What's in a number? 4.66pps Thanks for your post, Guitarsolo. I agree, it's nearly 8% of my SIPP, a great SIPP stock IMO.
Badders21
29 Nov 2017
Re: What's in a number? 4.66pps Hi Ben. I'm not sure I totally agree with your point about reinvestment although there may be an element of it. Managers of funds like these never (or nearly never) hold bonds to redemption - they sell them about a year prior. The reason is that prices are held up one year out by insurance companies and the like who have to buy short-dated bonds for technical reasons. When it comes to reinvesting the market is like for like. Older issues (not many left except undated) with higher coupons will be priced to yield the same as lower coupon issues (I accept on a redemption yield basis) but with interest rates starting to rise let's hope that more attractive coupons will come available. I do agree with you, though, that we are unlikely to see eps grow in the short term but I am not overly concerned.Regards,Badders
Guitarsolo
29 Nov 2017
Re: What's in a number? 4.66pps BA, Actually, over the last 7 years the EPS (adjusted undiluted) has ranged from 4.50p to 5.42p and last year was 4.66p. So there is some room for it to modestly increase. From memory (and please don't take this as gospel or feel free to correct me) they plan to pay out approx 85% of the net earnings, which should leave them the rest to reinvest in more fixed-income goodies to provide a small but steady uplift to the EPS each year. (If that 15% earned 6% income then there should be an uptick of 0.04p each year). Your point about not being able to replace expiring investments with new ones of the same coupon is well made and true at the moment. Hopefully, enough of the fund's investments have a long enough timeline to see us back to more normal times. Here's the November fact sheet which includes the largest holdings. [link] believe NCYF does a bit of re-jigging from time to time (i.e. sell a fixed income bond that has reached a good price to replace it with another and hopefully provide an overall positive lift). I guess that's what we pay them for. Guitarsolo
Ben Alligin
29 Nov 2017
Re: What's in a number? 4.66pps Actually, I would be surprised to see any significant increase in EPS. This trust largely invests in fixed income bonds, and the income from these is more likely to go down rather than up. Apart from any possible defaults, when the investments mature the manager has to replace them with other fixed income investments which in these times are likely to have a lower coupon than the original investment.
Guitarsolo
29 Nov 2017
Re: What's in a number? 4.66pps Morning Badders, Thanks for your post. I don't think I ever particularly feared that the dividend would be cut, but the EPS declined for 4 years in a row (from memory!) and stood at 4.50p against a dividend of 4.39p. Not much room there before it is not covered - hence modest relief that the EPS improved to 4.66p in the year just gone. You're correct that investment trusts can hoard their money to protect their dividend records if times get tough. Although there has not been a dividend cut, at least whilst I've been following or invested, there have been minimal increases below the rate of inflation which is sort of a cut to some!But hey, I've got a fair number of these and it is my largest dividend payer. I'm invested because of the yield and because that dividend is covered from fixed income earnings which (as you say) should be pretty much a banker unless the **** really hits the fan and anyone defaults. I'm pleased with CQS' record, it's why I put about 7% of my funds with them. It would be nice to see EPS and dividends rise more quickly but I accept it is a tough market. Guitarsolo - suitably satisfied by this boring IT
