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  #221  
Old 11.09.2016, 17:24
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Re: Investment fund

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Being uninvested for the 10 best days during a 30 year investment career will likely cost you more than being invested throughout. I invested 100 a month in a UK pension from 1986. I paid in a total of 7,200, huge fees were deducted from the plan at the time. Today it's worth 73,994.28. With investments timescale is far more important than timing.
That's a return of approximately 8% p.a., compounding. Solid, but not spectacular. Does this have something to do with your "10 best days" comment?
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  #222  
Old 11.09.2016, 17:45
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Re: Investment fund

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That's a return of approximately 8% p.a., compounding. Solid, but not spectacular. Does this have something to do with your "10 best days" comment?
Unfortunately Pension funds from those days had huge charges, 5.5% annually for life for first 2 years contributions & 2.5% annual for the rest of the contributions. About half the fund was 'lost' when I transferred out about 12 years ago. The charges exceed any tax savings by a huge proportion. 3/4 of the fund is of course still subject to income tax.
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  #223  
Old 10.10.2016, 21:23
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Re: Investment fund

Hi - regarding Fundsmith Luxembourg, I have just gone through the set up process, sent everything off, have now received a poor quality note in the post with my name and a 4 digit number on it. The letter I have received doesn't even look genuine. It is from International financial data services. However it is not clear how I now buy units in the fund?
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  #224  
Old 11.10.2016, 12:16
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Re: Investment fund

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Hi - regarding Fundsmith Luxembourg, I have just gone through the set up process, sent everything off, have now received a poor quality note in the post with my name and a 4 digit number on it. The letter I have received doesn't even look genuine. It is from International financial data services. However it is not clear how I now buy units in the fund?
That is your account no, they could manage will only 3 digits in Luxembourg.

IFDS is the registrar & deals with all paperwork.

You send them some money with written instructions of what you want to buy. The instructions can be sent by fax, with the letter following by post.
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  #225  
Old 11.10.2016, 13:05
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Re: Investment fund

Great thanks, very old-style isn't it? I am so used to the comfort of doing everything online these days and being able to view account activity at the touch of a button.
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  #226  
Old 11.10.2016, 15:36
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Re: Investment fund

They do lack in the online department, a lot.
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  #227  
Old 11.10.2016, 15:53
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Re: Investment fund

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Great thanks, very old-style isn't it? I am so used to the comfort of doing everything online these days and being able to view account activity at the touch of a button.
Investment in the UK can be tracked online, Luxembourg only deals with a handful of generally larger investors, they are not looking for a large no of accounts.
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  #228  
Old 11.10.2016, 15:57
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Re: Investment fund

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Investment in the UK can be tracked online, Luxembourg only deals with a handful of generally larger investors, they are not looking for a large no of accounts.
the website is pitifully slow. but you can also get quotes from the usual web portals.

i'm considering whether to redeem part of my investment.

the performance has been pretty good so far - in USD terms maybe up 6.5% over 5 months, but i'm wondering if there are better returns to be had elsewhere.
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  #229  
Old 11.10.2016, 16:24
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Re: Investment fund

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the website is pitifully slow. but you can also get quotes from the usual web portals.

i'm considering whether to redeem part of my investment.

the performance has been pretty good so far - in USD terms maybe up 6.5% over 5 months, but i'm wondering if there are better returns to be had elsewhere.
If you buy through a broker such as HL, you get the price from yesterday. I really don't get the fascination with prices changing minute by minute or even day by day. Most investors would do better if they only saw the price occasionally.

I plan to hold & even increase my position over time.
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  #230  
Old 11.10.2016, 16:31
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Re: Investment fund

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If you buy through a broker such as HL, you get the price from yesterday. I really don't get the fascination with prices changing minute by minute or even day by day. Most investors would do better if they only saw the price occasionally.

I plan to hold & even increase my position over time.
It's not about price fluctuations, but rather prospects of returns.

If you had all your money in BP shares would you say, hey, I don't care about day to day price, I'll hold and increase my position over time?

Or would you say, hmm, I'm not sure BP is going to be the best place to have my money over the next few years, maybe I should move it to somewhere with a better return?

Against this basket of 3 shares (nominal basket to be ~100k), you'd get 18% over the same period instead of 6.5%

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Last edited by Phil_MCR; 11.10.2016 at 17:45.
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  #231  
Old 11.10.2016, 16:37
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Re: Investment fund

FS was at 281 on the 12SEP and is now at 305. In Terry we trust
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  #232  
Old 11.10.2016, 16:45
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Re: Investment fund

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FS was at 281 on the 12SEP and is now at 305. In Terry we trust
281 * 1.3273 = $373
305 * 1.2256 = $373

So exactly zero growth over that period in USD terms.

MCR_Fund growth over the same period: 3.98%
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  #233  
Old 11.10.2016, 17:38
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Re: Investment fund

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281 * 1.3273 = $373
305 * 1.2256 = $373

So exactly zero growth over that period in USD terms.

MCR_Fund growth over the same period: 3.98%
Don't care. I've invested in GBP
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  #234  
Old 11.10.2016, 17:45
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Re: Investment fund

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Don't care. I've invested in GBP
Maybe you'd like to invest in Zimbabwe Dollars then, you can get even higher imaginary returns!
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  #235  
Old 11.10.2016, 18:03
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Re: Investment fund

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Maybe you'd like to invest in Zimbabwe Dollars then, you can get even higher imaginary returns!
I live in the UK, earn GBP, spend GBP, save in GBP, pension in GBP, and have no intention of going to the US anytime soon unless I'm absolutely forced too.

Why do I, or the average Joe Bloggs, care about US Dollars?
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  #236  
Old 11.10.2016, 18:07
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Re: Investment fund

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I live in the UK, earn GBP, spend GBP, save in GBP, pension in GBP, and have no intention of going to the US anytime soon unless I'm absolutely forced too.

Why do I care about US Dollars?
The USD is the worlds reserve currency, there was some silly talk about the Euro taking over, that largely has been forgotten

If your intending to add further money to FS, it's actually bad news that the fund is doing so well, it may feel good but that good feeling is always comes at a cost.
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  #237  
Old 11.10.2016, 18:22
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Re: Investment fund

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The USD is the worlds reserve currency, there was some silly talk about the Euro taking over, that largely has been forgotten

If your intending to add further money to FS, it's actually bad news that the fund is doing so well, it may feel good but that good feeling is always comes at a cost.
I bought at 250 on 01JUN so I'm happy enough with where it is. I add a small sum every month and let it be.
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  #238  
Old 11.10.2016, 18:46
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Re: Investment fund

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I bought at 250 on 01JUN so I'm happy enough with where it is. I add a small sum every month and let it be.
You should be aware that a bid price below 250 will very likely occur at some point in the future, Warren Buffet has seen the price of Berkshire Hathaway value half on 3 occasions, it will happen again, however in the grand scheme of things it's nothing to worry about.

If you carry on that strategy for 25 years, you will do very well & wish you had invested slightly more early on! Compound gains over a long time is a wonderful thing I remember being spooked by the 1987 crash as I was a new investor. In every subsequent 'crash', I lost more on paper than my total net worth before the previous crash. I never sold it all paid off handsomely in the end.

I wish Terry Smith had launched his fund when he was unemployed after publishing his book 'accounting for growth', he was unemployable for 18 months in London. Of course once 2 FTSE winners collapsed, people took a different view.
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  #239  
Old 03.02.2017, 21:06
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Re: Investment fund

Fundsmith seems to have detached from a couple of benchmarks since Oct last year:

http://www.morningstar.co.uk/uk/fund...000QDO0&tab=13

As 'bond proxies' become less popular, I wonder if opportunities for buying fundsmith more cheaply could arise?
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  #240  
Old 03.02.2017, 21:37
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Re: Investment fund

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Fundsmith seems to have detached from a couple of benchmarks since Oct last year:

http://www.morningstar.co.uk/uk/fund...000QDO0&tab=13

As 'bond proxies' become less popular, I wonder if opportunities for buying fundsmith more cheaply could arise?
Look at 3 or 5 years & it spectacularly out performed the index, it will never track it as it's investments are 84% different to MCSI index's.

If you believe you can market time as 90% of the market believes it can, but fails to do then yes. Investment commentary has said the same about FS for 4 years, it's risen roughly 100% since then, so listening to market commentary wouldn't have payed off to date. Even a watch that is not working tells the time correctly twice a day.
Edit, I think there could be a currency error in the morning star graph, looking at the figures on Fundsmith website something is wrong. However if you look over 13 months Fundsmith is bang in the middle of the 2 index's. This is due to Fundsmith resilience when markets fell at the beginning of 2016, so possibly on reflection this is to be expected.
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Last edited by fatmanfilms; 03.02.2017 at 22:05. Reason: Adding FS Figures
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