Some may question your sanity if following recommendations from anonymous forums, journos and broker reports (whether the house one or not). Found the article online - I've not done the competitor analysis to determine if Treatt should sit where it does or closer to the sector leaders. PH job is to promote the company so will build the case that Treatt are above average and get the 'market' to re-rate them as a growth stock they were once upon a time. Operationally with the new premises move now completed, they are set up for it. Can the new CEO exploit this? If the Treatt team can and we see good results, then I think this will move upwards. Whether it is right for you depends on your own view of risk and reward across your portfolio in your investing timeline. I can't see it as the top performing share in the Index in 12 months, nor see it as the worse performing one.
Posting as something of a rate tart as from time to time some brokers offer incentives to switch…admittedly, the lead upto the end of the tax year seems to be peak season so perhaps a pity Redmayne didn’t advise sooner about their increases as with portfolios of c.£1m, incentives would be, imo, meaningful.
I’m only in UK listed shares (usually FTSE350) rather than overseas or funds so I’ve only ever considered that in my calculations of cost effectiveness.
Most recently, I have taken advantage of Interactive Investor incentive for my main ISA as they charge a flat fee and trading fees £3.99 vs my previous broker (Barclays Smart Investor) which was a %age and £6 per trade. I would add that the switching incentive from SI last year still made the switch cost effective (from HL).II also offer family / bundle deals as standard which could improve the economics for you and your wife.
My main GIA is going back to HL as their latest incentive stacked up for my circumstances as I don’t think I will deal very often in it (£11.95 per trade is relatively high in my view) but there is no platform / portfolio fee whereas SI charges that %age.
I also use a T212 account as wishing to experiment with trading more often on some shares (though am not sure if I am actually suited to that style as I seem to buy more often than sell) as it is platform and commission free so smaller trades are not having to cover any fees - just the stamp.
Haven’t really had a concerted looked at the research features on each platform (am not a chartist and it’s a foreign language to me). II certainly send out a lot of emails with links to a lot of articles.
Anecdotally based in comments on various boards, think SI typically takes longer to put dividends in your account vs II (and other brokers). Across the platforms I have used, I have found dealing and their ease of use much of a muchness between them but I wonder if T212 does sometimes not get the best price in the market (have seen one limit order not transacted when according to the day range it should have completed).
Depending on cash levels in your account, do consider interest rates paid - not checked recent rates but HL were highlighted as being poor in that respect. Don’t know if they have changed since then.
I also agree with the comment from Discus1 about broker counterparty risk.
The last point I make for now is that having accounts across a few platforms, I have to run my own spreadsheet to analyse share performance and acquisition costs when it comes to S109 holdings / CGT. However, probably appeals to my inner nerd and I have the time to do so.
T212 doesn't charge a platform fee either but it's not a flexible ISA. The interest on the cash may fall outside FSCS protection - details on their website rather than trying to summarise here but I'm happy with that risk in my own personal circumstances. The lack of fee helps averaging in / out of positions as I can trade in smaller amounts when I know I don't need the trade to cover those costs.
I’ve been a bit of a rate tart and tried various platforms when incentive offers have been on for switchers. I’ve opened an ISA with Trading 212 (already had a GIA opened in January) which is commission and platform fee free. Not seen a downside to it so far with the shares I wish to invest / trade. T212 currently have a cashback offer on too. Happy for anyone with more experience of T212 to flag downsides of which they are aware!
Be interesting to know Ben Stocks’ plan for the future. More than happy for him to carry on working but, at age 60, how much longer does he see himself as CEO?
Updated analysis on this link. Doesn’t add anything new, imo, to those of us already invested.
https://www.ii.co.uk/analysis-commentary/shares-future-company-makes-my-top-10-ii531283?utm_source=newsletter&utm_medium=email&utm_campaign=Weekend%20Newsletter%2020240406&utm_content=newsletter&utm_source=sfmc&utm_medium=email&utm_campaign=Weekend+Newsletter+AMP&utm_term=%25%25%3dRedirectTo(%40article1URL)%3d%25%25%3f%25%25%3dv(%40UTM)%3d%25%25&utm_id=164345&sfmc_id=28804455
SP has been higher recently though it could well be positioning ahead of the H1 update as you mention. I imagine positive noises on sales / end of customer destocking will see a SP boost though any adverse comment on costs would trump that and see a drop. But who knows how the ‘market’ will react?!
I hold these shares in a GIA with T212 and received the dividend today in GBP converted at the RNS rate. Taxed at 15% having completed the W-8BEN form on opening the account earlier in the year. Can’t remember any particular options chosen at the time but see my currency options are set as my primary currency (GBP).
Just come across this piece from the end of Feb.
https://www.ii.co.uk/analysis-commentary/shares-future-mid-ranking-stock-inflection-point-ii530850
This may help.
https://www.gov.uk/tax-sell-shares/same-company
Not seen anything so can only guess - could be as simple as an appreciation of better times ahead now (markets recovery and growth, settling in new UK premises) and no negative news on new CEO front (any bets on Ryan becoming permanent CEO?) Or left field idea that a third party may be(come) interested in the company given the greater optimism generally?
Latest TU shows BAU - ahead of expectations and a bolt on acquisition. Steady as she goes.
Yes, yesterday was the day!
The SP drop below £5 has caused me to think about adding some more too – would have been a straightforward decision if I was simply buying back in having sold earlier in the year at £7! Unfortunately, I’ve still not got a crystal ball.
The current PE following the SP drop sits better so in my view it’s now how those operational efficiencies from the new premises come through set against the negative of the higher interest costs (see the IR sensitivity analysis in the 2022 AR – p147). May be wishful thinking on my part but I’d like to think with their experience, they will be able to maintain overall margins on higher raw material costs albeit possibly helped by a move to more premium, higher margin products in general.
We should get an insight on all that with the end of year trading update in about a month – hopefully will be a catalyst for a meaningful SP upwards movement so will need to make my mind up on adding before then.
Not seen anything specific to explain the drop in the SP - jitters about price of oranges with adverse weather? Perhaps some downside from China slowdown affecting future growth (albeit not a large part of the business as yet)?
Looking that way based on current direction of the SP!
I’d be looking at switching a GIA so no need to worry on the ISA point, thank you. Small print looks ok to me. The 1% incentive will still leave me in profit even with their platform fee given there is not a long tie in so looks like it will be a worthwhile switch for me. The downside appears to be if I wish to trade whilst the switch happens but as I don’t trade often at the moment, I should be ok (famous last words). Will need to keep an eye out to see if share accounts become like the battle between banks for current accounts!
Hope this link works…
https://www.barclays.co.uk/content/dam/documents/smart-investor/smart-investor-transfer-in-cashback-tc.pdf