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  #41  
Old 08.06.2020, 19:26
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Re: How do people prepare for their pensions?

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In Switzerland if you run out of money in old age, the state pays to keep you fed, housed and looked after, courtesy of tax-payers.
More like this:
  • Fed means: just enough money to get by if eating mostly pasta
  • Housed means: rental covered up to a maximum rental limit at which it is very hard to find even a bachelor studio, and no help to find such accommodation, and penalised for every franc that exceeds that permissible monthly limit
  • Looked after means: mostly, nothing. Perhaps Spitex home nursing to come by, if there is a medical reason.

Also paid is the basic medical insurance premium, and that's a real blessing. And a small monthly allowance to cover everything beyond medical and rent.
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  #42  
Old 09.06.2020, 00:59
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Re: How do people prepare for their pensions?

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How did you manage to invest into fundsmith via interactive brokers?
I didn't say I invested (bought fund shares), I paid (transferred) the money. I thought it worth mentioning the money came from IB as that was within the country, hopefully removing one or the other potential pitfall.

Last edited by Urs Max; 09.06.2020 at 02:10.
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  #43  
Old 09.06.2020, 12:30
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Re: How do people prepare for their pensions?

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How is that possible with a fund almost 2Bn now?

I guess I need to do some more reading on how investment trusts work. Apparently I underestimated the liquidity aspect.
SSON and FEET are both investment trusts, in the US they'd be called closed-end stock funds (CEF), see for instance cefconnect.com for other CEFs (but beware!). For a CEF the number of shares outstanding is constant at most times, sharecount doesn't change on a daily basis like it does for an ordinary fund or ETF. Like an ordinary company (think Microsoft) the change of the value a share represents depends on the company(CEF)'s performance, but the price is subject to supply and demand and can deviate from NAV by a lot.

FEET for instance trades 13% below NAV, meaning you pay only 87 cents for every dollar's worth you buy. SSON however trades at 1.2% premium, the price is 1.2% above NAV.

Thank you for mentioning SMT, looks quite interesting.
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  #44  
Old 09.06.2020, 13:14
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Re: How do people prepare for their pensions?

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SSON and FEET are both investment trusts, in the US they'd be called closed-end stock funds (CEF), see for instance cefconnect.com for other CEFs (but beware!). For a CEF the number of shares outstanding is constant at most times, sharecount doesn't change on a daily basis like it does for an ordinary fund or ETF. Like an ordinary company (think Microsoft) the change of the value a share represents depends on the company(CEF)'s performance, but the price is subject to supply and demand and can deviate from NAV by a lot.

FEET for instance trades 13% below NAV, meaning you pay only 87 cents for every dollar's worth you buy. SSON however trades at 1.2% premium, the price is 1.2% above NAV.

Thank you for mentioning SMT, looks quite interesting.
Interesting you mentioned Microsoft, Microsoft fell very heavily, not because COVID would hugely reduce profits, but due to it's huge liquidity you could sell $1 billion of stock without issue, many fund managers had to sell what was liquid to fund redemptions, not what they wanted to sell.

FEET had a 17% discount a couple of weeks ago, change of sentiments happen very quickly.
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  #45  
Old 09.06.2020, 15:58
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Re: How do people prepare for their pensions?

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I didn't say I invested (bought fund shares), I paid (transferred) the money. I thought it worth mentioning the money came from IB as that was within the country, hopefully removing one or the other potential pitfall.
Do you see the position in IB?
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  #46  
Old 09.06.2020, 16:25
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Re: How do people prepare for their pensions?

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SSON and FEET are both investment trusts, in the US they'd be called closed-end stock funds (CEF), see for instance cefconnect.com for other CEFs (but beware!). For a CEF the number of shares outstanding is constant at most times, sharecount doesn't change on a daily basis like it does for an ordinary fund or ETF. Like an ordinary company (think Microsoft) the change of the value a share represents depends on the company(CEF)'s performance, but the price is subject to supply and demand and can deviate from NAV by a lot.

FEET for instance trades 13% below NAV, meaning you pay only 87 cents for every dollar's worth you buy. SSON however trades at 1.2% premium, the price is 1.2% above NAV.

Thank you for mentioning SMT, looks quite interesting.
I can't believe you didn't have Scottish Mortgage on your radar.
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  #47  
Old 09.06.2020, 16:26
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Re: How do people prepare for their pensions?

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Do you see the position in IB?
No, it's completely separate.

EPMike, I focus on US and Swiss markets.
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  #48  
Old 09.11.2020, 15:37
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Re: How do people prepare for their pensions?

Does any Swiss employer offer defined benefit pension?

I've only seen defined benefit for the insurance part (death and disability), and defined contribution for the actual pension.

Last edited by 3Wishes; 11.11.2020 at 18:17. Reason: removed quoted spam post
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  #49  
Old 09.11.2020, 16:25
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Re: How do people prepare for their pensions?

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Does any Swiss employer offer defined benefit pension?

I've only seen defined benefit for the insurance part (death and disability), and defined contribution for the actual pension.
I got 5 months of it in 2009 when I first moved here and then the model changed to defined contribution. I would guess that some public sector roles and maybe some heavily unionised roles do still have it, but I can‘t see those being the types of job that most EFers are in.
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