The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Hfel report that turnover of shares was over 100%, this was down on the previous 120% turnover. So buying and selling seems to be more of a norm, well for the past couple of years. You might have noticed a change at some point.
I suppose it depends on what happens with China and if this follows any improvement their.
As for dividend levels, a certain Mr Buffet would argue not to pay any at all and reinvest all income into the business.
Another 50k so might get interesting
Rio Ex divi Paid
Interim 12/08/2021 23/09/2021 376.00¢
Special 12/08/2021 23/09/2021 185.00¢
Special 04/03/2021 15/04/2021 93.00¢
Final 04/03/2021 15/04/2021 309.00¢
BHP
Final 02/09/2021 21/09/2021 200.00¢
Interim 04/03/2021 23/03/2021 101.00¢
thanks LSE for getting rid of all the spacing's making it difficult to read
Ade2a
From the monthly factsheets, % of fund and fund top 10 positions
RIO BHP
31 May 3.8% 2 3.7% 3
30 June 3.9% 2 3.8% 3
31 Jul 4.9% 1 4.2% 2
31 Aug 3.5% 4 4.4% 1
30 Sep 3.1% 6 3.2% 5
31 Oct 0% 0%
Looking at rough SP for each, both have dropped over 20% in the time period. It looks like they were building up then selling off before getting rid of the lot. I suspect some were sold at a loss. They might have rules to limit losses and the falls in SP triggered the sales.
The floor is open for other interpretations
86k of shares bought back yesterday. A bit more meaningful than the last almost none existant share buyback.
Was this a one off or a move towards something more meaningful.
Paul. Im not sure why you want the dividend in the Bed account. I would assume dividends paid would be better in the tax shelter?
Personally I wouldn't like to be out of the market for 4 days hoping it would end up in my favour. Can you not sell and rebuy at the same time to minimise any differential. Trading costs should be minimal but you cant get around the stamp either way.
You could consider selling pre ex dividend and rebuying in the tax shelter post ex dividend hoping that the drop due to ex divi covers the difference but that cant be guaranteed.
There are worse problems to have. I assume you are keeping the tax sheltered dividends inside the shelter so could use some of them to repurchase some of the same shares outside the shelter. Again I dont know your personal circumstances but you might have some leeway with the £2k dividend allowances. The only other consideration is moving non dividend shares out of the tax shelter for dividend paying and using the CGT allowance to eventually get them back inside. Than might minimise tax on dividends but you would have to check if you can gain anything from this.
It might be worth asking on the Lemon fool website rather than every share
Hi ade2a.
Yes I can see that they have been sold. Unfortunately I don't know when they were bought so its a little difficult to determine what is actually happening from my point of view.
Yes the overall return has been poor, partly why I joined, hopefull that there would be a turnaround and things would improve. You could always ask the question to Henderson.
I'm not sure the ship has been steadied just yet or if its almost there. Managment seem to think investors are happy with the high yield assuming the SP is steady. This leads me to think that the SP won't be going too far in the near future.
I'm minded to ride this out a bit more to see some improvements but you can sell up and move into aaif or soi.
Out of interest did they sell RIO and bhp for more than they paid?
There seems to be a theme at the moment with REITs swapping into one type of holdings rather than a mix of holdings. So some are selling offices whilst another buys just offices. Both cant be right.
Unless moving the chairs about is seen to be doing something.
Paul. Mr Market threw a hissy fit on the "bad news"
Like you said an over reaction. Anyone listening will already know to expect mutations at least every 3 months. Now this is being touted as good news as it spreads faster and likely to become the dominate strain and by all accounts is mild. Bye Delta!
Generally its best to ignore the noise and just carry on and use these dips to add something when you can. Remember the mantra "Its time in the market not timing the market. Still some people are lucky and can make it work.
The shares are showing in the account but no notification or update. I did get all the extra I requested so just need to sort my other holding at some point but have a divi to fall back on whilst I wait.
Im not sure about underpaid and unappreciated. Maybe you have worked there so speak from experience although most people say they are underpaid and unappreciated even the one on yachts. I suppose I could ask the question next time I'm communicating with them.
The monthly fact sheet 31/1021 shows 3.5%. The RNS 3.61%
This implies more added assuming a stable base line, which is almost not correct
Factsheet NAV (cum income) 293.6p NAV (ex income) 291.5p
Hendersons website puts Estimated NAV 296.35p As of 01/12/2021
Looks like they are following this thread lol.
Rns says they have bought VinaCapital Vietnam. Thought they had some already so maybe they have added more.
Is VinaCapital Vietnam the same as VOF?
If it is then according to HL its on 20% discount with 2% yield. Worryingly it has over 7% charges. I half expected a move into dividend paying financials. Will have to look back at previous holding to compare changes.
Fag packet look, £43M for RIO and BHP so 9% of holdings 31st July holdings.
As I dont follow those too shares did either announce a reduction in dividends.
A quick skeg of usual financial information providers shows lots of mixed messages. HL shows them still holding both, trusnets top 10 is blank for names but has percentages. The horses mouth, Henderson, is dated 31st July
Just shows how poor the info can be
ade2a, I think it was you that highlighted a drop in iron ore prices. Add to that the delisting of BHP then you can reasonable assume that their respective SP's might fall. The FTSE trackers all selling BHP etc.
You are right to question how do they replace that income. I suppose it depends on how they replace the shares and what price they managed to sell for. Ive not been keeping track BHP over the last 3m has taken a dip and is recovering. RIO is similar with less of a bounce.
They were expecting other share income to rise approx 15% which should offset some. Is this evidence of washing you were on about?
I think this means there might be more need for the reserve. now why didn't you do that spreadsheet. We might all find it useful. I might look out for the next monthly info sheet due now ish but haven't got anything to compare it with.
I wasnt expecting to get into detail with a fund as I was hoping the managers would be on the ball. I must admit I was expecting a little bit better performance than we have been getting.
Thanks adv11.
I have received my dividend now so far so good. The separate corporate action holding for UKW has disappeared as of this morning but my share count remains the same as pre action.
Hopefully that means the cogs are turning and the account will be updated shortly. Either that or the bean counter is saying in a new yacht somewhere in the south of France!
Having watched the webcast one thing stands out. Annual spending is circ £20M but for the next couple of years its going to be £60M+
Could this extra spending, some to go more green be part of the reason
Spring time is often a good tome to top up. Dont know why it falls each spring. I was tempted to add a few more recently but I keep nagging myself to wait till early next year.
Will check to see how the divi is tomorrow