Twentyfour Sel Share Price (SMIF)

Extra big dividend this month totalling 0.75p per share. Great news for income seekers.

Full details in RNS no point copying here

". . . (Got in for 82.odd so pleased with a 6% future divi at that rate) . . ."

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For clarity, it should really turn out to be more of an 8%++ annual divi for this year based on my initial buy-in price today, but I ignored the special rate applied each October for safety.

On a US monthly divi Income trust, you could clearly see each month with sharp saw-teeth progression of the SP in its XD periods.

I couldn't discern any such regular action with SMIF that would assist economical buying in the XD periods - perhaps because 0.5p just doesn't really register in the hurley-burly of XD periods?

- Anyone figured out a system of taking advantage in such short XD periods when attempting to top-up?

It's also possible to keep repeating the test until you pass. I think it's nonsense because all investments are difficult to understand, even after reading the 200 page financial report a retail Investor is unlikely to work out what isn't being said. Some of the investments that have gone bad for me have been due to things that were hard to predict. One in particular, SONG, was basically due to the investment manager with holding important information and inflating the NAV.

SMIF basically deal in debt instruments and seem to be doing a good job. I could spend weeks researching further and still not being able to predict whether this IT would go wrong.

Hello all - Well after many a year’s investing experience my initial buy on here this morning marks a new event in my methodology.

I’m overly heavy in cash at the moment and with virtually nil interest being earnet on cash in my SIPP acc, I’ve at last solved something that’s plagued me from day one at the commencement of my investing journey from way back in the day - how the hell do I get those periods when I’m in cash, into some sort of a bank savings account when I’m heavily in cash without triggering a hefty tax bill?

SMIF and its brethren are the answer!

This will be a) the first tranche of several more in SMIF -

and b) the first Investment Income trust (or CEF, Closed End Funds as they call them in the US) of others I have my eye on - all with much higher yields. (Got in for 82.odd so pleased with a 6% future divi at that rate. Only a a penny premium paid on NAV, not too bad as checked back on those posting of paying 74p - against the NAV at those dates, and it wasn’t possible to pay less than than NAV price - even back at 74p.

It’s the same in the US - these investment vehicles are little known by the average investor. I’ve picked up a lot of info researching these CEF’s over the past month or two.

And although I’m new to Income Trusts I’m picking up things fast and have the life-long investing (trend-following) tools to monitor/control them . . . or I believe I have :)

My SIPP is with HL and had the shock of my life on trying to buy SMIF yesterday (it was late in the day so abandoned buying) as they wouldn’t let me proceed until I had taken ‘a test’.

WTF?!?

Up popped an exam paper, which they required me to take because as they said, only “sophisticated investors”, professional investors etc., should get involved in these ‘complex’ investments and they wanted me to tick which type of investors should NOT get involved with these CEF’s.

The other questions were straightforward but the type of investor sounded a bit nanny-state.

So I stuck the knife into ordinary investors clicking it’s not for them - and thought yep, me? Why I’m a sophisticated investor - see how I smoke a cigarette from a long black cigarette holder whilst lounging in front of my screen like a latter day Noel Coward, do you want me to wear my black suit and a bow tie, and drawl my name’s Bond, James Bond next?

However it was a text screen test only and the computer couldn’t see me - but I passed and was despondent that no certificate for sophistication was forthcoming. What? All those questions and no certificate? Tsk! Duuuh!

A good Company and well run. A monthly dividend with a fairly stable share price. One of my favourite stocks