Share this page:
Stay connected:
Welcome to the Citywire Money Forums, where members share investment ideas and discuss everything to do with their money.

You'll need to log in or set up an account to start new discussions or reply to existing ones. See you inside!

Notification

Icon
Error

Transactions
Micawber
Posted: 13 February 2018 14:50:47(UTC)

Joined: 27/01/2013(UTC)
Posts: 1,775

Thanks: 777 times
Was thanked: 2602 time(s) in 998 post(s)
Jeff Liddiard;57062 wrote:


Micawber, BGO I'm hanging onto for the very long term. Re DGOC, two good uplifts last couple of days, just wondering if you have a price exit point or is it another long term one for you? Thanks


I take a medium-term view of DGOC (that is, one to three years) and I don't have a price exit point. There are two factors for me in holding it: the prospects for oil prices, and the very low cost of DGOC's production. If either change, or if there is some AIM snafu for shareholders in the company, then I'll sell. In the much longer term I don't see that DGOC has an infinite future - it's buying partly spent oilwells cheap, they will become exhausted, and oil faces longer term disruption from cheaper, cleaner energy, while DGOC is just an oil company with no downstream activities.
2 users thanked Micawber for this post.
Jeff Liddiard on 13/02/2018(UTC), James Skelton on 13/02/2018(UTC)
Sara G
Posted: 13 February 2018 15:04:07(UTC)

Joined: 07/05/2015(UTC)
Posts: 539

Thanks: 898 times
Was thanked: 941 time(s) in 358 post(s)
Andrew Smith 259;57080 wrote:
Keith Hilton;57063 wrote:
Opened a position in RGL and topped-up STOB. Both in my ISA and yielding well over 7%. These look more attractive to me than bonds at present, and with that level of yield I'm hoping that they won't get hit too hard, unless interest rates rise significantly, which I think unlikely. I also think there's the possibility of some significant upside to STOB in the next decade, from expansion at Southend airport.

I'm also now close to eliminating the non-dividend paying stocks from my ISA, as I'll soon need to start drawing down more heavily from my ISA and SIPP and wish to minimise any income tax due.


I’m currently holding two commercial property REITs. Like you I’ve got RGL but I’m also holding AEW UK REIT plc (AEWU).

AEWU currently yields about 8%.


Interesting article on the CW IT Insider site:

http://citywire.co.uk/in...nsider-latest-news-list

Although property isn't just about shopping centres they may well act as a drag on the sector if the UK economic news does not improve - and even warehouses might be impacted if spending slows significantly, I would assume. Is anyone else reducing property, or is it still broadly undervalued? I recall Big Boy suggesting that British Land is effectively 30% undervalued.
Keith Hilton
Posted: 13 February 2018 15:17:12(UTC)

Joined: 20/08/2010(UTC)
Posts: 433

Thanks: 297 times
Was thanked: 387 time(s) in 230 post(s)
Mickey;57073 wrote:
Keith Hilton;57069 wrote:
Small top-up of FGT to utilise some dividend income, now that it's pulled back about 6.5%.

Have FGT which has been quite disappointing for awhile, thought it might drop to a discount but seems able to hold that premium.


FGT has done well for me over the years, but like you I have previously held off from topping-up, hoping for a correction. It's unlikely to go to much of a discount, if any, as FGT use a discount control mechanism.

Also, not too sure what you find disappointing about the returns. 11%, 87% & 270% over 1, 5 & 10 years, are some of the best in the UK Equity Income sector, unless you go hunting into small cap income. Although I do appreciate that there may be some better performing funds out there.
3 users thanked Keith Hilton for this post.
Mickey on 13/02/2018(UTC), john_r on 13/02/2018(UTC), Alan M on 15/02/2018(UTC)
Keith Hilton
Posted: 13 February 2018 15:28:23(UTC)

Joined: 20/08/2010(UTC)
Posts: 433

Thanks: 297 times
Was thanked: 387 time(s) in 230 post(s)
Sara G;57083 wrote:
Andrew Smith 259;57080 wrote:
Keith Hilton;57063 wrote:
Opened a position in RGL and topped-up STOB. Both in my ISA and yielding well over 7%. These look more attractive to me than bonds at present, and with that level of yield I'm hoping that they won't get hit too hard, unless interest rates rise significantly, which I think unlikely. I also think there's the possibility of some significant upside to STOB in the next decade, from expansion at Southend airport.

I'm also now close to eliminating the non-dividend paying stocks from my ISA, as I'll soon need to start drawing down more heavily from my ISA and SIPP and wish to minimise any income tax due.


I’m currently holding two commercial property REITs. Like you I’ve got RGL but I’m also holding AEW UK REIT plc (AEWU).

AEWU currently yields about 8%.


Interesting article on the CW IT Insider site:

http://citywire.co.uk/in...nsider-latest-news-list

Although property isn't just about shopping centres they may well act as a drag on the sector if the UK economic news does not improve - and even warehouses might be impacted if spending slows significantly, I would assume. Is anyone else reducing property, or is it still broadly undervalued? I recall Big Boy suggesting that British Land is effectively 30% undervalued.


I did consider British Land and Land Securities, but wanted something outside of the capital, as I felt that London property prices were probably a bit rich. RGL is focussed more on office and industrial properties outside of the capital. However, its high fees and high gearing mean that I won't be investing a large amount in it.
2 users thanked Keith Hilton for this post.
Mr Helpful on 13/02/2018(UTC), Sara G on 13/02/2018(UTC)
Mr Helpful
Posted: 13 February 2018 15:35:35(UTC)

Joined: 04/11/2016(UTC)
Posts: 466

Thanks: 516 times
Was thanked: 577 time(s) in 279 post(s)
Keith Hilton;57063 wrote:
Opened a position in RGL and topped-up STOB. Both in my ISA and yielding well over 7%. These look more attractive to me than bonds at present, and with that level of yield I'm hoping that they won't get hit too hard, unless interest rates rise significantly, which I think unlikely.


Hold RGL plus NRR in portfolio 'defensives' (if only).
Bit worried though now !!!
This morning I read Mr Woodford holds among his property positions both RGL and NRR.
Bigboy will be along soon to highlight that both trade significantly above navs, sources differ but might be in region of 30%+.
As regards debt, NRR has 34% net debt, RGL 82% (ouch!).
Of the two, NRR looks the better on historic valuation grounds, but what do I know?
RGL the relatively new kid on the block?

On a more constructive note,
added today to :-
BRNA : US (ish) Stocks

Dow slightly off.
King Lodos
Posted: 13 February 2018 15:39:32(UTC)

Joined: 05/01/2016(UTC)
Posts: 2,296

Thanks: 451 times
Was thanked: 3357 time(s) in 1330 post(s)
Sara G;57083 wrote:
Andrew Smith 259;57080 wrote:
Keith Hilton;57063 wrote:
Opened a position in RGL and topped-up STOB. Both in my ISA and yielding well over 7%. These look more attractive to me than bonds at present, and with that level of yield I'm hoping that they won't get hit too hard, unless interest rates rise significantly, which I think unlikely. I also think there's the possibility of some significant upside to STOB in the next decade, from expansion at Southend airport.

I'm also now close to eliminating the non-dividend paying stocks from my ISA, as I'll soon need to start drawing down more heavily from my ISA and SIPP and wish to minimise any income tax due.


I’m currently holding two commercial property REITs. Like you I’ve got RGL but I’m also holding AEW UK REIT plc (AEWU).

AEWU currently yields about 8%.


Interesting article on the CW IT Insider site:

http://citywire.co.uk/in...nsider-latest-news-list

Although property isn't just about shopping centres they may well act as a drag on the sector if the UK economic news does not improve - and even warehouses might be impacted if spending slows significantly, I would assume. Is anyone else reducing property, or is it still broadly undervalued? I recall Big Boy suggesting that British Land is effectively 30% undervalued.


I've certainly been more interested in European, and looking a bit at US REITs (hit quite hard with treasury yields rising – but obviously tax implications).

My completely naive thesis is that even if consumer spending slows, home delivery for consumer staples is probably nowhere near its peak .. I'd imagine at least twice as many Brits ordering toilet rolls and shower gel online within 10 years, even if we're in a recession .. Alexa's also facilitating that – making it easier to get in the habit of repeat online shopping.

JD.com are planning to invest £1bn in European distribution in coming years, running up to a major challenge to Amazon .. I'm almost entirely warehouse distribution – and I think it's an interesting point about shopping centres .. I've got one down the road I've not visited in a few years – might be interesting to see how busy it feels.


4 users thanked King Lodos for this post.
c brown on 13/02/2018(UTC), Sara G on 13/02/2018(UTC), Keith Hilton on 13/02/2018(UTC), gillyann on 13/02/2018(UTC)
Big boy
Posted: 13 February 2018 17:25:21(UTC)

Joined: 20/01/2015(UTC)
Posts: 274

Thanks: 20 times
Was thanked: 333 time(s) in 154 post(s)
Mr Helpful;57088 wrote:
Keith Hilton;57063 wrote:
Opened a position in RGL and topped-up STOB. Both in my ISA and yielding well over 7%. These look more attractive to me than bonds at present, and with that level of yield I'm hoping that they won't get hit too hard, unless interest rates rise significantly, which I think unlikely.


Hold RGL plus NRR in portfolio 'defensives' (if only).
Bit worried though now !!!
This morning I read Mr Woodford holds among his property positions both RGL and NRR.
Bigboy will be along soon to highlight that both trade significantly above navs, sources differ but might be in region of 30%+.
As regards debt, NRR has 34% net debt, RGL 82% (ouch!).
Of the two, NRR looks the better on historic valuation grounds, but what do I know?
RGL the relatively new kid on the block?

On a more constructive note,
added today to :-
BRNA : US (ish) Stocks

Dow slightly off.



I will not be going near RGL/NRR. A lot of these Funds designed to raise as much capital as possible but Land/BLND factoring in decline in Commercial Property of 20%. I remember how some of these geared Property Funds and SPLITs got into difficulty in a falling markets... A yield of 7% would scare me..........in some cases when LTVs breached the revenue a/c is switched to pay the Bank debt.
5 users thanked Big boy for this post.
Sara G on 13/02/2018(UTC), Tim D on 13/02/2018(UTC), IanL on 14/02/2018(UTC), Mr Helpful on 14/02/2018(UTC), Guest on 14/02/2018(UTC)
Tug Boat
Posted: 13 February 2018 17:32:32(UTC)

Joined: 16/12/2014(UTC)
Posts: 144

Thanks: 1 times
Was thanked: 193 time(s) in 82 post(s)
Bought a painting by local Totnes artist Paula Kendall, she had a nice dog too.
3 users thanked Tug Boat for this post.
dyfed on 13/02/2018(UTC), Jim S on 13/02/2018(UTC), Jim Thompson on 14/02/2018(UTC)
xcity
Posted: 13 February 2018 18:12:35(UTC)

Joined: 12/04/2015(UTC)
Posts: 408

Thanks: 76 times
Was thanked: 371 time(s) in 194 post(s)
Andrew Smith 259;57080 wrote:
I’m also holding AEW UK REIT plc (AEWU).

AEWU currently yields about 8%.


It would be, wouldn't it?

Standing at a small premium to asset value, with the assets comprising high yield regional commercial properties, all bought relatively recently and with relatively short outstanding lease duration.

Add in the gearing and there is precious little downside protection.
Conversely, they will do well if things go well, but I'd be much happier if there were a substantial discount to NAV.

Different situation to REITs with long leases and assets very likely to appreciate. I don't know these people, so have no idea whether they are really good at spotting pricing oportunities.
2 users thanked xcity for this post.
Mr Helpful on 14/02/2018(UTC), dlp6666 on 14/02/2018(UTC)
lynne shaffer
Posted: 13 February 2018 18:14:53(UTC)

Joined: 15/03/2011(UTC)
Posts: 148

Thanks: 146 times
Was thanked: 80 time(s) in 37 post(s)
Bought some Shell today for divi. and added to Lloyds
2 users thanked lynne shaffer for this post.
Tony Peterson on 13/02/2018(UTC), dyfed on 14/02/2018(UTC)
John Miskelly
Posted: 13 February 2018 18:17:02(UTC)

Joined: 31/01/2018(UTC)
Posts: 8

Thanks: 3 times
Was thanked: 4 time(s) in 3 post(s)
lynne shaffer;57100 wrote:
Bought some Shell today for divi. and added to Lloyds


It reassures me that I'm not the only one buying Shell right now! Divi was around 5.6% at the price I paid though
Micawber
Posted: 13 February 2018 18:56:20(UTC)

Joined: 27/01/2013(UTC)
Posts: 1,775

Thanks: 777 times
Was thanked: 2602 time(s) in 998 post(s)
John Miskelly;57102 wrote:
lynne shaffer;57100 wrote:
Bought some Shell today for divi. and added to Lloyds


It reassures me that I'm not the only one buying Shell right now! Divi was around 5.6% at the price I paid though

Holding my Shell.

As to property, I rationalised during 2017, and now apart from Green REIT as a Brexit play mine's all in TRY - good manager, EU exposure, flexible approach. I'm not attracted to REITS wholly in UK in the present climate. The past year or so in the US commercial property market is salutary. Warehousing might be excepted, but TRY's performance lately was slightly superior to my former holding in SGRO.
4 users thanked Micawber for this post.
Big boy on 13/02/2018(UTC), Sara G on 13/02/2018(UTC), Guest on 14/02/2018(UTC), Mr Helpful on 14/02/2018(UTC)
Hank Elvis Dobbs (texan)
Posted: 13 February 2018 19:46:41(UTC)

Joined: 19/08/2017(UTC)
Posts: 126

Thanks: 45 times
Was thanked: 132 time(s) in 63 post(s)
john_r;57055 wrote:
I'm a sucker for BooHoo just had to top up again today. Seems as though each time I check its forecast, it has moved up some more.
Followed on with top-ups in REL (reports Thursday), BCA and a new holding JPM's MATE (IPO).
Tomorrow I will top up HSP (reports Wednesday) where I see the inescapable Mr Christopher Harwood Mills has recently taken a 3% stake on behalf of NAS.
But now tonight it is time to take Cueballs advice - look after my heart.
A cleansing tonic 'spirit of rye' will keep me calm until tomorrow.



Strictly speaking its OIG but suppose your half right as Nas controls 50% of the voting rights of oryx....see they got the Mills 'pop' since....I would never 'copycat' ..of course..ha ha

Do recall a few posters on here were holders of Hargreaves a while back?
Hank Elvis Dobbs (texan)
Posted: 13 February 2018 21:04:50(UTC)

Joined: 19/08/2017(UTC)
Posts: 126

Thanks: 45 times
Was thanked: 132 time(s) in 63 post(s)
...Oh... how remiss of me,we only mention our winners on here don't we? ...lol..

I know most will know this already ....but for those who don't if you want news of significant share holdings bought and sold as they are reported by fund managers see the london stock exchange site RNS news service.

"Around 8 quid"....Whats that ?...them shares 'yer onna bout'......"..Oh!
dyfed
Posted: 14 February 2018 11:19:45(UTC)

Joined: 01/09/2016(UTC)
Posts: 311

Thanks: 436 times
Was thanked: 389 time(s) in 182 post(s)
Bought GFRD
2 users thanked dyfed for this post.
Mr Helpful on 14/02/2018(UTC), what me, worry? on 15/02/2018(UTC)
Mr Helpful
Posted: 14 February 2018 12:03:30(UTC)

Joined: 04/11/2016(UTC)
Posts: 466

Thanks: 516 times
Was thanked: 577 time(s) in 279 post(s)
dyfed;57135 wrote:
Bought GFRD

Looks good.
Certainly going contrary.

Following the recent discussion here, and re-evaluation
today dumped RGL
This is not the result of great insight; just that 'defensives' were due for a trimming, and RGL seemed the natural choice being a relatively low-conviction position.
RGL share price will now of course surge.
3 users thanked Mr Helpful for this post.
dyfed on 14/02/2018(UTC), Tim D on 14/02/2018(UTC), dlp6666 on 14/02/2018(UTC)
AJW
Posted: 14 February 2018 12:39:14(UTC)

Joined: 15/06/2017(UTC)
Posts: 51

Thanks: 55 times
Was thanked: 28 time(s) in 21 post(s)
Newton Real Return. What a load of bollocks, time to sell...
1 user thanked AJW for this post.
Tyrion Lannister on 14/02/2018(UTC)
Fell Walker
Posted: 14 February 2018 14:07:17(UTC)

Joined: 15/12/2017(UTC)
Posts: 17

Thanks: 30 times
Was thanked: 20 time(s) in 10 post(s)
As per others, I'm disillusioned with Troy Trojan so sold it totally. Jupiter Abs Ret is also very close to going, it seems it is basically 'short' as it only goes up on market down days, the last couple of weeks still haven't put a dent in to the gradual decline of the past 6 months+. I wonder if Clunie will start to go more long now some sort of correction has occured, I don't hold my breathe though. Luckily I didn't have much in these funds. It seems like a lot of people have realised the waste of time that so called capital preservation funds are proving to be in this climate, and, even more so that past performance has no bearing on how things operate in the future.

I'm glad I sold out of Short duration bonds a few weeks back and heavily reduced my GAM Start Credit. On the whole they have been a good place to be and they have held up reasonably well, I don't really feel as in control with bond funds as I do with equities.

With regards having too much cash in ISA's and SIPP (as per '30% portfolio allocation, Fundsmith or..?' thread), I have sold and re-bought from my trading account into my SIPP, I've only done it with OICS for Stamp Duty and spread cost reasons, and up to my CGT limit. I think that with the changes to pensions and the freedom with withdrawals now, whether I take from my SIPP or Trading account when over 55 as a similar thing as long as the tax for withdrawals is taken in to account, Personal Allowance and CGT. This releases funds from my trading account some of which are now in NSI getting 2.2%, this is far better than Capital Pres funds, for me at least, this was a point made well by KL.

King Lodos;57114 wrote:
A lot of defensive funds have made nothing over the past year, with 30-50% stock exposure .. If you'd just had 30-50% stocks and cash you'd have done a fair bit better


It was a good time to clear out some old funds (as above) and increase my holding in funds I want to stick with long term. I have increased my holding of Lindsel Train Global, Fundsmith, FRCL, Witan and the only TAR fund I have some faith in, Henderson UK Abs Ret.
4 users thanked Fell Walker for this post.
Sara G on 14/02/2018(UTC), dlp6666 on 14/02/2018(UTC), King Lodos on 14/02/2018(UTC), john brace on 15/02/2018(UTC)
Tyrion Lannister
Posted: 14 February 2018 19:39:55(UTC)

Joined: 03/03/2017(UTC)
Posts: 254

Thanks: 152 times
Was thanked: 170 time(s) in 107 post(s)
AJW;57141 wrote:
Newton Real Return. What a load of bollocks, time to sell...


I hold this and will never throw away money on a total return fund again.

The only reliable real return fund is cash!
2 users thanked Tyrion Lannister for this post.
Fell Walker on 14/02/2018(UTC), dlp6666 on 15/02/2018(UTC)
Fell Walker
Posted: 14 February 2018 21:08:34(UTC)

Joined: 15/12/2017(UTC)
Posts: 17

Thanks: 30 times
Was thanked: 20 time(s) in 10 post(s)
It'd be interesting to see if there are large outflows from some of the capital preservation funds are over the preceding months. Maybe there needs to be a bit of a cull!
1 user thanked Fell Walker for this post.
Tyrion Lannister on 14/02/2018(UTC)
162 Pages«Previous page159160161162Next page
+ Reply to discussion

Markets

Other markets