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  #61  
Old 08.07.2015, 15:29
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Re: Investment fund

To be precise, I invest in funds, not equities.

My (foreign) bank allows me to buy/sell/exchange a good number of various funds without fees, the only costs being fund management costs. Its beneficial in a scenario where I alter my portfolio frequently. It obviously wouldnít make sense if I had to pay for each executed trade. Did I beat the market? No. Mostly because my choice of funds was relatively conservative (<50% equity) and not always optimal (yeah, these South American markets didnít quite recover as I would have liked). I did however avoid quite a few drops and was able to catch a couple of peaks over the years (Turkey before the crash in 2013, and now China). As I remember, I started playing around 2006. These were never large amounts, so itís mostly about personal satisfaction, not financial gains.
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  #62  
Old 08.07.2015, 15:40
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Re: Investment fund

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Terry Smith has been around for a long time, he has over £50,000,000 in the fund & will add significantly to this. Cant think of anyone else who has so much invested in their own fund other than Warren Buffet.
I know quite a few, but they are mostly hedge fund managers, not Long-only.

As an aside about length of track record, we find that by the time someone has built up an impressive track record (and the significant asset base that goes along with that) their best years in terms of performance are typically behind them.
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  #63  
Old 08.07.2015, 16:42
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Re: Investment fund

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To be precise, I invest in funds, not equities.

My (foreign) bank allows me to buy/sell/exchange a good number of various funds without fees, the only costs being fund management costs. Its beneficial in a scenario where I alter my portfolio frequently. It obviously wouldnít make sense if I had to pay for each executed trade. Did I beat the market? No. Mostly because my choice of funds was relatively conservative (<50% equity) and not always optimal (yeah, these South American markets didnít quite recover as I would have liked). I did however avoid quite a few drops and was able to catch a couple of peaks over the years (Turkey before the crash in 2013, and now China). As I remember, I started playing around 2006. These were never large amounts, so itís mostly about personal satisfaction, not financial gains.
Your paying for every trade & spread on every transaction the fund manager makes on top of his fees, hidden fees on most active funds exceed 1% sometimes more, churning costs money.

Hopefully you have more than doubled your money since 2006?
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  #64  
Old 08.07.2015, 17:08
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Re: Investment fund

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. . .
Hopefully you have more than doubled your money since 2006?
Certainly not if he had invested in an SMI Index fund. Where would he have doubled his money using a realistic investment strategy ?
SMI (dividends and fees excluded) . . .
investment-fund-smi-2006-2015.png
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  #65  
Old 08.07.2015, 17:13
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Re: Investment fund

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dividends and fees excluded
Why exclude these? Dividends at 4% would give 42% return, they're critical to equity investing performance.
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  #66  
Old 08.07.2015, 17:19
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Re: Investment fund

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Why exclude these? Dividends at 4% would give 42% return, they're critical to equity investing performance.
I didn't explicitly exclude these. The chart I found, while quickly looking, didn't include them, so I added the disclaimer. Maybe you can find a better one.
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  #67  
Old 08.07.2015, 17:32
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Re: Investment fund

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I didn't explicitly exclude these. The chart I found, while quickly looking, didn't include them, so I added the disclaimer. Maybe you can find a better one.
Here's the SMI Total Return (including dividends) since 2006, which is up around +53%:
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  #68  
Old 08.07.2015, 17:41
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Re: Investment fund

SMI is pretty low risk with moderate performance - FTSE 250 returned 95% over that period, without dividends.

Assuming dividends at 4% reinvested that would give a ROI of > 150%.
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  #69  
Old 08.07.2015, 17:50
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Re: Investment fund

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SMI is pretty low risk with moderate performance - FTSE 250 returned 95% over that period, without dividends.

Assuming dividends at 4% reinvested that would give a ROI of > 150%.
in GBP ?
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  #70  
Old 08.07.2015, 17:52
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Re: Investment fund

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SMI is pretty low risk with moderate performance - FTSE 250 returned 95% over that period, without dividends.

Assuming dividends at 4% reinvested that would give a ROI of > 150%.
Unfortunately not that great anymore when you account for GBP/CHF exchange rate difference over that period.
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  #71  
Old 08.07.2015, 17:57
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Re: Investment fund

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I didn't explicitly exclude these. The chart I found, while quickly looking, didn't include them, so I added the disclaimer. Maybe you can find a better one.
It's like the charts of the Great Depression, it looked like it took many years to recover your losses, however dividends were running as high as 13%.
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  #72  
Old 08.07.2015, 18:00
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Re: Investment fund

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SMI is pretty low risk with moderate performance - FTSE 250 returned 95% over that period, without dividends.

Assuming dividends at 4% reinvested that would give a ROI of > 150%.
Actually the SMI is a very high risk index as 3 stocks represent roughly 63% of the investment. It's also going to sink almost in proportion to CHF currency gains as very little of the profits originate from CH.
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Last edited by fatmanfilms; 08.07.2015 at 18:17. Reason: adding details of the 20 companies forming the SMI
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  #73  
Old 08.07.2015, 18:48
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Re: Investment fund

OK, it depends how you measure risk.

Looking at diversification it's not great on the pharma side, but Nestle is pretty well diversified in itself.

The most common risk measure is volatility, which is about 20% the same as the DAX or EURO STOXX - despite the recent CHF volatility.
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  #74  
Old 08.07.2015, 19:23
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Re: Investment fund

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OK, it depends how you measure risk.

Looking at diversification it's not great on the pharma side, but Nestle is pretty well diversified in itself.

The most common risk measure is volatility, which is about 20% the same as the DAX or EURO STOXX - despite the recent CHF volatility.
To base a portfolio of 20 stocks, with 3 stocks representing 63% is likely to end in tears, the FTSE became largely a Banking & Pharma index in the late 90's, it's roughly unchanged in 15 years again without huge volatility.
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  #75  
Old 17.07.2015, 14:07
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Re: Investment fund

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I have heard that VZ give good advice, https://www.vermoegenszentrum.ch/individuals.html
Does anyone have first-hand experience of VZ? They seem to be one of the very few independent advisers around?
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  #76  
Old 15.08.2015, 22:11
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Re: Investment fund

https://fundlab.credit-suisse.com/ch...8?currency=CHF


The UK property market seems to be performing well at present.
Any thoughts on the above ETF via Credit Suisse?
I assume there is no 35% withholding tax as its not Swiss based and treated like shares, although it is distributing.
The GBP also seems to be strengthening against CHF at present.

Last edited by MarkH; 15.08.2015 at 22:23.
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  #77  
Old 16.08.2015, 11:48
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Re: Investment fund

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https://fundlab.credit-suisse.com/ch...8?currency=CHF


The UK property market seems to be performing well at present.
Any thoughts on the above ETF via Credit Suisse?
I assume there is no 35% withholding tax as its not Swiss based and treated like shares, although it is distributing.
The GBP also seems to be strengthening against CHF at present.
Almost certainly will have 35% withholding tax of your a Swiss resident.

Fund is down in all currencies since 2008. Location Location Location is what it's about, they tried to beat the market & lost, not very impressive TBH.
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  #78  
Old 16.08.2015, 15:12
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Re: Investment fund

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Almost certainly will have 35% withholding tax of your a Swiss resident.

Fund is down in all currencies since 2008. Location Location Location is what it's about, they tried to beat the market & lost, not very impressive TBH.
https://fundlab.credit-suisse.com/ch...8?currency=CHF

Is it not the point to buy when the investment product is low?
Buy low sell high?
It's been performing well since 2012.26% last year.
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  #79  
Old 16.08.2015, 15:26
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Re: Investment fund

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https://fundlab.credit-suisse.com/ch...8?currency=CHF

Is it not the point to buy when the investment product is low?
Buy low sell high?
It's been performing well since 2012.26% last year.
So you should have bought last year then!
The changes in taxation for BTL investors in the budget had not been fully understood as yet, many highly geared investors will be bankrupt. Higher rate taxation relief is based on rental income amount not on rental income profits. In many cases where people have remortgaged they will be making a net loss & then not getting tax relief above 20%. If they sell they will have a CGT bill to pay plus the mortgage, all as Interest rates will start to rise.
Historically average house prices have been 4.5 times income, at the peak it was 7.5 times, today it's 6.9 times. House prices always overshoot in both directions so a fall of 40-50% in real terms can be expected over the coming years.
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Old 10.10.2015, 14:32
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Re: Investment fund

Any comments on this fund?

It's via Postfinance.If you have a Postfinance plus account you pay 0,5 %
buy in fee up to a max of 500 chf per transaction.

https://www.postfinance.ch/en/priv/p...7&currency=EUR

Pictet - Europe Index (Security number 1,255,409)
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