Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation  
Reply
 
Thread Tools Display Modes
  #201  
Old 16.11.2020, 09:47
Phil_MCR's Avatar
Forum Legend
 
Join Date: Oct 2009
Location: Basel
Posts: 14,622
Groaned at 281 Times in 187 Posts
Thanked 18,464 Times in 7,747 Posts
Phil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond repute
Re: Another fundsmith question

Quote:
View Post
- Terry Smith is 67, if he dies?
They have a contingency plan with Berkshire Hathaway that in case TS dies, Charlie Munger will step in.
Reply With Quote
The following 5 users would like to thank Phil_MCR for this useful post:
  #202  
Old 16.11.2020, 12:06
Talk to you later's Avatar
Forum Veteran
 
Join Date: Aug 2020
Location: ZH
Posts: 1,563
Groaned at 71 Times in 37 Posts
Thanked 2,923 Times in 1,058 Posts
Talk to you later has a reputation beyond reputeTalk to you later has a reputation beyond reputeTalk to you later has a reputation beyond reputeTalk to you later has a reputation beyond reputeTalk to you later has a reputation beyond reputeTalk to you later has a reputation beyond repute
Re: Another fundsmith question

Quote:
Invest in the Luxembourg fund in Euros, probably worth having a Euro account at your Bank in CH so you can do your own currency exchanges & get a better rate.
How do I do that? If I go to https://www.fundsmith.co.uk/ "Invest now", I don't see any such option.


On the EU domain website, there is no "Invest now" option.

I contacted them and this was their reply-

Quote:
You are able to invest with us using a foreign bank account however funds will need to be converted to GBP prior to being sent to us.

If you would like the contact details for the SICAV Fundsmith Equity Fund Feeder, these are as follows:

Website: www.fundsmith.eu
Telephone: + 352 464 010 600
Email: ir@fundsmith.co.uk
Post:
State Street Bank Luxembourg S.A.
IFDSL Registration Team
49 Avenue J.F. Kennedy
L-1855 Luxembourg
Reply With Quote
  #203  
Old 16.11.2020, 12:58
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 21,378
Groaned at 461 Times in 352 Posts
Thanked 23,091 Times in 11,824 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: Another fundsmith question

Quote:
View Post
How do I do that? If I go to https://www.fundsmith.co.uk/ "Invest now", I don't see any such option.


On the EU domain website, there is no "Invest now" option.

I contacted them and this was their reply-
GBP for Uk, for Luxembourg download application form, it has euro banking details
Reply With Quote
This user would like to thank fatmanfilms for this useful post:
  #204  
Old 16.11.2020, 15:01
Talk to you later's Avatar
Forum Veteran
 
Join Date: Aug 2020
Location: ZH
Posts: 1,563
Groaned at 71 Times in 37 Posts
Thanked 2,923 Times in 1,058 Posts
Talk to you later has a reputation beyond reputeTalk to you later has a reputation beyond reputeTalk to you later has a reputation beyond reputeTalk to you later has a reputation beyond reputeTalk to you later has a reputation beyond reputeTalk to you later has a reputation beyond repute
Re: Another fundsmith question

Just read the whole bloody thread in one go, my simple goat herder head is hurting


Quote:
View Post
GBP for Uk, for Luxembourg download application form, it has euro banking details

So the SICAV account opening form. Why don't they have an online version! F*** 20 pages pdf So for the Luxembourg/Euro account holders there won't be any online "My account" login option like the UK version?


Reply With Quote
  #205  
Old 16.11.2020, 15:10
Talk to you later's Avatar
Forum Veteran
 
Join Date: Aug 2020
Location: ZH
Posts: 1,563
Groaned at 71 Times in 37 Posts
Thanked 2,923 Times in 1,058 Posts
Talk to you later has a reputation beyond reputeTalk to you later has a reputation beyond reputeTalk to you later has a reputation beyond reputeTalk to you later has a reputation beyond reputeTalk to you later has a reputation beyond reputeTalk to you later has a reputation beyond repute
Re: Another fundsmith question

Quote:
View Post
I try not to, it's a studio apartment I bought in 1999 in Chamonix, had to buy something bigger to celebrate 4 years of marriage
How many times have you been married in total?

Quote:
View Post
My direct UK investment started at 43K in May 13 so over 150k today.
So 150k of your fresh cash injected in or does it also include dividends that you put back in?
Reply With Quote
  #206  
Old 16.11.2020, 15:20
Forum Legend
 
Join Date: Jul 2020
Location: Frick, Aargau
Posts: 2,876
Groaned at 63 Times in 51 Posts
Thanked 4,070 Times in 1,901 Posts
HickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond repute
Re: Another fundsmith question

Quote:
View Post
Just read the whole bloody thread in one go, my simple goat herder head is hurting





So the SICAV account opening form. Why don't they have an online version! F*** 20 pages pdf So for the Luxembourg/Euro account holders there won't be any online "My account" login option like the UK version?


Out of interest - why would you put it in Luxembourg (charging 1.11% per year) rather than directly with UK in (1.05% per year). Am I missing something - even if you are paid in Euros, surely its probably better to just pay c. 0.2% to convert into pounds if you are investing for the long term.

When I invested recently I just converted into pounds with revolut. You could set a revolut (or transferwise) account up in no time if you don't already have one.

Last edited by HickvonFrick; 16.11.2020 at 15:41.
Reply With Quote
  #207  
Old 16.11.2020, 15:43
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 21,378
Groaned at 461 Times in 352 Posts
Thanked 23,091 Times in 11,824 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: Another fundsmith question

Quote:
View Post
How many times have you been married in total?



So 150k of your fresh cash injected in or does it also include dividends that you put back in?
Quote:
View Post
Just read the whole bloody thread in one go, my simple goat herder head is hurting



So the SICAV account opening form. Why don't they have an online version! F*** 20 pages pdf So for the Luxembourg/Euro account holders there won't be any online "My account" login option like the UK version?


Just married once

43k has become 150k with no additional investment just 7 years & 6 months of compound returns.

They don't have an online version as there are very few 'small customers' in Luxembourg, it's mainly professional investors that do not wish to hold UK assets. I think I was about the 50th client, they mentions they had 500 clients a couple of years ago when the feeder find was 3.5 billion euros.
Attached Images
 
Reply With Quote
This user would like to thank fatmanfilms for this useful post:
  #208  
Old 16.11.2020, 15:48
Talk to you later's Avatar
Forum Veteran
 
Join Date: Aug 2020
Location: ZH
Posts: 1,563
Groaned at 71 Times in 37 Posts
Thanked 2,923 Times in 1,058 Posts
Talk to you later has a reputation beyond reputeTalk to you later has a reputation beyond reputeTalk to you later has a reputation beyond reputeTalk to you later has a reputation beyond reputeTalk to you later has a reputation beyond reputeTalk to you later has a reputation beyond repute
Re: Another fundsmith question

HickvonFrick,

Well I have not decided anything. Just researching currently based on what FMF suggested. My expertise are playing with goat udders and not finance Actually I am expert at being lazy but that is another topic.

My money is in CHF and even though I am a British citizen, I have no ISA or UK bank account any more. I don't earn anything in Euros and people pay me in CHF, when I sell them goat's milk.

So you just went to the UK site and used your Revolut account details? Where does your FS dividends go, to the Revolut account or are you using UK bank account? ISA or No ISA? or Swiss bank account?


Reply With Quote
  #209  
Old 16.11.2020, 15:50
Forum Legend
 
Join Date: Jul 2020
Location: Frick, Aargau
Posts: 2,876
Groaned at 63 Times in 51 Posts
Thanked 4,070 Times in 1,901 Posts
HickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond repute
Re: Another fundsmith question

Quote:
View Post
HickvonFrick,

Well I have not decided anything. Just researching currently based on what FMF suggested. My expertise are playing with goat udders and not finance Actually I am expert at being lazy but that is another topic.

My money is in CHF and even though I am a British citizen, I have no ISA or UK bank account any more. I don't earn anything in Euros and people pay me in CHF, when I sell them goat's milk.

So you just went to the UK site and used your Revolut account details? Where does your FS dividends go, to the Revolut account or are you using UK bank account? ISA or No ISA? or Swiss bank account?

My account is T Acc, so the dividends are reinvested. I do have a Sterling Bank account - HSBC Expat based in Jersey in any case.

I can't remember whether I moved my money from revolut directly or not - seems possible according to previous comments.

See https://www.englishforum.ch/finance-...ndsmith-7.html

I would ring FS them up and see if that's likely to be an issue for them. 6 Basis points isn't tons - but better than nothing. If you earn in CHF I don't see the point in having a Euro account rather than given that is slightly cheaper and has a better online offering.

Another option would be to open a Degiro CHF account and just invest in Smithson instead (Smithson is offered in Degiro but not Fundsmith as Smithson is an investment trust not a fund). This might be simpler and I think Smithson is likely to outperform Fundsmith going forward.

Last edited by HickvonFrick; 16.11.2020 at 16:09.
Reply With Quote
The following 3 users would like to thank HickvonFrick for this useful post:
  #210  
Old 16.11.2020, 16:03
Talk to you later's Avatar
Forum Veteran
 
Join Date: Aug 2020
Location: ZH
Posts: 1,563
Groaned at 71 Times in 37 Posts
Thanked 2,923 Times in 1,058 Posts
Talk to you later has a reputation beyond reputeTalk to you later has a reputation beyond reputeTalk to you later has a reputation beyond reputeTalk to you later has a reputation beyond reputeTalk to you later has a reputation beyond reputeTalk to you later has a reputation beyond repute
Re: Another fundsmith question

Quote:
View Post
My account is T Acc, so the dividends are reinvested.

I can't remember whether I moved my money from revolut directly or not - seems possible according to previous comments.

See https://www.englishforum.ch/finance-...ndsmith-7.html
I will most likely do T Acc too. Put some money in and forget about it for next 10+ years.

Last edited by Talk to you later; 16.11.2020 at 16:16.
Reply With Quote
  #211  
Old 16.11.2020, 16:17
Talk to you later's Avatar
Forum Veteran
 
Join Date: Aug 2020
Location: ZH
Posts: 1,563
Groaned at 71 Times in 37 Posts
Thanked 2,923 Times in 1,058 Posts
Talk to you later has a reputation beyond reputeTalk to you later has a reputation beyond reputeTalk to you later has a reputation beyond reputeTalk to you later has a reputation beyond reputeTalk to you later has a reputation beyond reputeTalk to you later has a reputation beyond repute
Re: Another fundsmith question



That is impressive then If you don't have online access for your Euro/Luxembourg investment, does that mean you are getting snail mail statements?

I am with UBS and FS lists UBS as their partner, what does that mean?
Reply With Quote
  #212  
Old 16.11.2020, 16:22
Forum Legend
 
Join Date: Jul 2020
Location: Frick, Aargau
Posts: 2,876
Groaned at 63 Times in 51 Posts
Thanked 4,070 Times in 1,901 Posts
HickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond repute
Re: Another fundsmith question

Quote:
View Post


That is impressive then If you don't have online access for your Euro/Luxembourg investment, does that mean you are getting snail mail statements?

I am with UBS and FS lists UBS as their partner, what does that mean?
It means you can invest using UBS as a platform (I class sicav) - but don't as UBS will charge you through the nose for doing so.
Reply With Quote
The following 3 users would like to thank HickvonFrick for this useful post:
  #213  
Old 16.11.2020, 16:46
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 21,378
Groaned at 461 Times in 352 Posts
Thanked 23,091 Times in 11,824 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: Another fundsmith question

Quote:
View Post


That is impressive then If you don't have online access for your Euro/Luxembourg investment, does that mean you are getting snail mail statements?

I am with UBS and FS lists UBS as their partner, what does that mean?
Lux sends monthly statements by post, however recently there was a glitch so they are sent by email password protected each month
Reply With Quote
This user would like to thank fatmanfilms for this useful post:
  #214  
Old 16.11.2020, 17:10
Forum Legend
 
Join Date: Jul 2020
Location: Frick, Aargau
Posts: 2,876
Groaned at 63 Times in 51 Posts
Thanked 4,070 Times in 1,901 Posts
HickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond repute
Re: Another fundsmith question

Quote:
View Post
Lux sends monthly statements by post, however recently there was a glitch so they are sent by email password protected each month
FMF - I think I'm going to put the next 50K or so investment money into Terry. I have a feeling he will outperform Baillie Gifford for next few years.

Would you go for Smithson or Fundsmith atm? I've got similar amounts in the two atm (slightly more in Smithson). Having just advised TTYL that Smithson might be the better option I thought I'd seek a second opinion.

In addition to that, I'm also helping my wife with her SIPP so there's a reasonable amount at stake atm.

Last edited by HickvonFrick; 16.11.2020 at 17:28.
Reply With Quote
  #215  
Old 16.11.2020, 17:37
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 21,378
Groaned at 461 Times in 352 Posts
Thanked 23,091 Times in 11,824 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: Another fundsmith question

Quote:
View Post
FMF - I think I'm going to put the next 50K or so investment money into Terry. I have a feeling he will outperform Baillie Gifford for next few years.

Would you go for Smithson or Fundsmith atm? I've got similar amounts in the two atm (slightly more in Smithson). Having just advised TTYL that Smithson might be the better option I thought I'd seek a second opinion.

In addition to that, I'm also helping my wife with her SIPP so there's a reasonable amount at stake atm.
If you look at this graph from Smithson 65/35 Fundsmith will give you a higher return for the same risk. Thats the weighting I am moving towards over the next 12 months. As you say Smithson should grow faster, which it has over it's first 2 years. However there was a volatility spike for a couple of days as sellers out numbered buyers, 1 forum member bought at 900p & was upset as it fell slightly further.....!

The most risk averse should go with 70% Fundsmith 30% Smithson.
Attached Thumbnails
another-fundsmith-question-screenshot-2020-11-16-17.32.37.png  
Reply With Quote
The following 2 users would like to thank fatmanfilms for this useful post:
  #216  
Old 16.11.2020, 17:52
Forum Legend
 
Join Date: Jul 2020
Location: Frick, Aargau
Posts: 2,876
Groaned at 63 Times in 51 Posts
Thanked 4,070 Times in 1,901 Posts
HickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond repute
Re: Another fundsmith question

Quote:
View Post
If you look at this graph from Smithson 65/35 Fundsmith will give you a higher return for the same risk. Thats the weighting I am moving towards over the next 12 months. As you say Smithson should grow faster, which it has over it's first 2 years. However there was a volatility spike for a couple of days as sellers out numbered buyers, 1 forum member bought at 900p & was upset as it fell slightly further.....!

The most risk averse should go with 70% Fundsmith 30% Smithson.
Thanks - very informative. Weird how FS is less risky than its index whereas Smithson is more risky.
Reply With Quote
  #217  
Old 16.11.2020, 18:02
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 21,378
Groaned at 461 Times in 352 Posts
Thanked 23,091 Times in 11,824 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: Another fundsmith question

Quote:
View Post
Thanks - very informative. Weird how FS is less risky than its index whereas Smithson is more risky.
I am guessing being an investment trust has something to do with the volatility of the share price can exceed the volatility of the assets. This happened on 18 March when the discount hit about 17%. That can't happen with FS.
Reply With Quote
The following 2 users would like to thank fatmanfilms for this useful post:
  #218  
Old 17.11.2020, 09:25
Talk to you later's Avatar
Forum Veteran
 
Join Date: Aug 2020
Location: ZH
Posts: 1,563
Groaned at 71 Times in 37 Posts
Thanked 2,923 Times in 1,058 Posts
Talk to you later has a reputation beyond reputeTalk to you later has a reputation beyond reputeTalk to you later has a reputation beyond reputeTalk to you later has a reputation beyond reputeTalk to you later has a reputation beyond reputeTalk to you later has a reputation beyond repute
Re: Another fundsmith question

Part-1

FMF, if you decided to pull all your money out from Lux today, how would you do that? I don't see any form in the EU documents sections for withdrawal-
https://www.fundsmith.co.uk/global/eu/documents
That Lux bank had 3* rating on Google. Is that something to worry about?

Part- 2

All my savings are 100% in CHF currently. I am British but no direct connection with UK any more, apart from a small house that might come to me in the future.

85% probability that I will live in CH forever (CHF country)
14% probability that I will live in Portugal or Spain (Euro country)
1% probability that I will move back to UK (/Brexit country)

In my situation would you really open the Lux FS account or the normal online UK FS account?
Reply With Quote
  #219  
Old 17.11.2020, 09:34
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 21,378
Groaned at 461 Times in 352 Posts
Thanked 23,091 Times in 11,824 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: Another fundsmith question

Quote:
View Post
Part-1

FMF, if you decided to pull all your money out from Lux today, how would you do that? I don't see any form in the EU documents sections for withdrawal-
https://www.fundsmith.co.uk/global/eu/documents
That Lux bank had 3* rating on Google. Is that something to worry about?

Part- 2

All my savings are 100% in CHF currently. I am British but no direct connection with UK any more, apart from a small house that might come to me in the future.

85% probability that I will live in CH forever (CHF country)
14% probability that I will live in Portugal or Spain (Euro country)
1% probability that I will move back to UK (/Brexit country)

In my situation would you really open the Lux FS account or the normal online UK FS account?
State Street in Luxembourg require FAXED instructions to trade. (I use pamfax online). You could write them a letter but obviously it would take a few days to arrive. Clearly something in the law refers to fax.

There is really very little in it, cost of the UK fund is cheaper, most of my direct investment is via Luxembourg as I had CHF / Euro accounts with post finance.
Reply With Quote
This user would like to thank fatmanfilms for this useful post:
  #220  
Old 19.11.2020, 10:27
Talk to you later's Avatar
Forum Veteran
 
Join Date: Aug 2020
Location: ZH
Posts: 1,563
Groaned at 71 Times in 37 Posts
Thanked 2,923 Times in 1,058 Posts
Talk to you later has a reputation beyond reputeTalk to you later has a reputation beyond reputeTalk to you later has a reputation beyond reputeTalk to you later has a reputation beyond reputeTalk to you later has a reputation beyond reputeTalk to you later has a reputation beyond repute
Re: Another fundsmith question

Quote:
View Post
S
There is really very little in it, cost of the UK fund is cheaper, most of my direct investment is via Luxembourg as I had CHF / Euro accounts with post finance.
I started filling the form for Lux but then saw that my UK passport had expired So will have to wait approximately another month to join FS.
Reply With Quote
This user would like to thank Talk to you later for this useful post:
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Question regarding Fundsmith Dr Mick Finance/banking/taxation 207 02.10.2021 12:43
Another wiring question... krn Housing in general 16 10.09.2017 14:40
Another DIY question PaddyG Daily life 28 04.09.2016 12:17
Another English question crm Other/general 4 17.09.2009 10:08
Another Salary question lumpy Employment 9 29.08.2008 11:08


All times are GMT +2. The time now is 23:53.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0