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  #341  
Old 13.03.2021, 03:08
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Re: Another fundsmith question

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Am still trying to find ways to buy in to Smithson, but it's proving difficult!
I'm not with IBCE, but do you have permission to trade UK stuff?
Getting permission granted, once you've applied if you need it added, may take a day or two.

And congrats on starting early with building a nest egg

Check your account settings, it should include something like the following:

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  #342  
Old 13.03.2021, 13:31
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Re: Another fundsmith question

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So: after quite a bit of googling this afternoon, thought I'd ask your collective wisdom on any gotchas with IBCE? Does anyone here have an account with that entity? Have to admit that the politicial situation in Hungary does give me pause for thought, but maybe I'm being paranoid?
Probably a discussion for the separate thread on Interactive Brokers: Hungary is obviously part of EU and apologies if this offends any Hungarians but I would not be Fully comfortable keeping my life savings in a country which nationalised private pensions only a few years back.

SSON and FEET are shares so should be available at any broker with coverage of UK. Fundsmith is a mutual fund and only available through certain banks and brokerages on a case by case basis. You could always open an account at Fundsmith directly if you are convinced you want to invest a large amount with them as it requires a bit of admin (check their webpage or email them)
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  #343  
Old 15.03.2021, 08:37
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Re: Another fundsmith question

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I just opened an account with IB (Europe) they have Smithson. The also have a 25,000 max client deposit at the moment, I won't use them till it's fixed.
So you mean with the IBCE entity then?
For the 25k max, I saw in a Reddit thread that apparently that limit applies to the max per transfer, not the max overall, in case that makes a difference?
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  #344  
Old 15.03.2021, 08:40
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Re: Another fundsmith question

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I'm not with IBCE, but do you have permission to trade UK stuff?
Getting permission granted, once you've applied if you need it added, may take a day or two.

And congrats on starting early with building a nest egg

Check your account settings, it should include something like the following:

Thanks for the tips, but I didn't actually go all the way through to complete the process and create the account. When I got the page with all the small-print docs and realised that the account would be in Hungary, I abandoned the whole thing to come away and do some more reasearch....if it were IB Lux or Ireland I would give it a second thought, but as jim1 mentions in another post, the unknowns in Hungary make me very uncomfortable, even if the owner of IB is a big friend of the government in Hungary...for the moment at least!
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Old 15.03.2021, 08:53
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Re: Another fundsmith question

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So you mean with the IBCE entity then?
For the 25k max, I saw in a Reddit thread that apparently that limit applies to the max per transfer, not the max overall, in case that makes a difference?
It's max per customer at the moment. The login website is https://www.interactivebrokers.co.uk/en/home.php It's in Hungary according to documentation. KYC took ages & they wanted a huge amount of detail about source of wealth, even through way more than 50% comes from growth of Fundsmith!
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  #346  
Old 15.03.2021, 09:15
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Re: Another fundsmith question

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Probably a discussion for the separate thread on Interactive Brokers: Hungary is obviously part of EU and apologies if this offends any Hungarians but I would not be Fully comfortable keeping my life savings in a country which nationalised private pensions only a few years back.

SSON and FEET are shares so should be available at any broker with coverage of UK. Fundsmith is a mutual fund and only available through certain banks and brokerages on a case by case basis. You could always open an account at Fundsmith directly if you are convinced you want to invest a large amount with them as it requires a bit of admin (check their webpage or email them)
It's exactly that concern about not being "fully comfortable keeping my life savings" in Hungary (no offense intended either!) that made me cancel the whole account creation process and has left me wondering what to do....

For the Fundsmith options, I created an account directly with them already, but cannot access SSON that way as you say. It is bizarre that I see FEET available in Degiro but not SSON, however when I contacted the Degiro support they were pretty explicit that it was a deliberate decision. Snippet of their e-mail:
"Indeed, unfortunately it would appear that the product was removed following an internal decision. Common explanations might be an internal exposure limit reached or regulatory/tax reasons."

I guess it doesn't hurt trying to ask again, but failing that, it seems like if I really want to get into SSON, I'll need to find another broker... (and btw SMT is exactly the same thing with Degiro: was there before, isn't now and they said to me it's not coming back)
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  #347  
Old 15.03.2021, 09:18
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Re: Another fundsmith question

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Trading 212 has been recommend - no idea if its any good or not.
IBCE = Hungary
Trading212 seems to = Bulgaria

...which gives me as many worries as IB, if not more!
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  #348  
Old 15.03.2021, 13:12
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Re: Another fundsmith question

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IBCE = Hungary
Trading212 seems to = Bulgaria

...which gives me as many worries as IB, if not more!
Robinhood? Etoro?
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  #349  
Old 25.04.2021, 23:02
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Re: Another fundsmith question

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Fundsmith published Tullet Prebon info showing growth from 4/12/03 to 31/12/12.
I used the notional value of 1000 on 4/12/03 which became 3117.76 on 31/12/12
That would have purchased 2409.21 T class Accumulation units in Fundsmith on 31/12/12, those units can be valued on any day going forward or past based on prices
Todays price 5.4315 so value would be 13,085.62
Price of T Class Accum shares Fri 23 April 2021 was 5.8620. At GBPCHF 1.268 that implies a 12.74% annualised CHF return over the 17 year period since 4/12/2003.

An example to show how incredible this is: Anyone starting with 0 savings but able to save and invest 50% of their salary each year into FS (e.g. FIRE movement) would earn an average return from FS equivalent to 50% of their salary p.a. after 7 years and 100% of their salary after 10 years.

Investing 30% of salary per year would earn an average return from FS worth 70% of salary after 11 years

Long may it continue but of course past is no guarantee of the future
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