TwoSporrans
18 Jan 2016
Re: correction Fabius, GIAlthough I haven't gone the whole hog and gone for an outright Indian play, I have had a holding in AAIF for a few years.Like GI, just added to it rather than HFEL; main reasons being:a. NAV has market performed but price fallen rapidly, unwinding erstwhile premium; now on a 8%+ discount.b. Chinese exposure very modest at ~8% weighting. The stand out weighting is in Singapore ~26% rather than India [1%]. Management approach is bottom up though rather than sector or geographical.c. Good dividend growth record.d. Dividend now 5.9%; 21Jan16 next [2.5p/sh] ex-divi-date. [other 3 qtrs at 2.0p each through 2015].I am mulling over a further slice of HFEL though, a limit of 260 placed on one.CheersTS
devonplay
15 Jan 2016
Re: New investments Hi Grey, I've actually got a foot holding of FPEO bought most of it after '09, I'm some 60% up. I agree about Europe, its bound to correct. I've been buying the stocks I mentioned in little monthly, bi monthly blocks.Same here with REC. overall I'm some 35% down, but I'm still interested in adding. It's interesting if for no other reason than most of the time it goes down when stocks go up! Not today! I like the idea of it as a little hedge, or did.I'm still holding AML, up 70% overall plus the div. Overall, I'm 30% in cash. I've been dripping money into my wife's ISA and planning to keep doing that. It's not very exciting, but I just buy her a nice simple UK focused fund. If anything happened to me, she wouldn't want to have to manage my risk on portfolio!Its been a dreadful year, I've been bundling along with a well diversified portfolio and still achieving 20%pa.This last year I achieved just 6% div re-invested. I'm looking at LLoyds and Aviva. OML, I know one of the Board, I'll let him know of your displeasure!! Agree, I like corrections! I reconcile my div's every month and buy what ever has gone down, in a sensible way, in my broad portfolio. Haven't really looked at JETI, I like CLIG.You know what I do with ETF's? I always buy them using II's £1.50 deal, no stamp duty, and use them for that last little bit of div that I don't have any plans for, often it's just a couple of 00's quid.Most of the time I like to remain fully invested. The cash is just a temptation! I've found over the years buy in stages/sell in stage works for me. Every time I have a lump sum, I end up making a bad decision haha.DL
Greyinvestor
15 Jan 2016
ADN Dipped into ADN today also.....
Greyinvestor
15 Jan 2016
New investments Good to hear from you Devon. I think that you're into some decent stocks, all are known to me.I've gone for FPEO and to a lesser extent APAX on private equity. But we should bear in mind that exits will now become more difficult.I like the idea of EAT but Europe is too expensive for me just now. JETI too.I've bought LLOY and am sitting on a 10% loss. Not as bad as a 20% loss on OML !My biggest new position is BMS, terrible spread though. I've added to CLIG. MYy REC have dived today.I won't buy ETFs just now, only because some are stuffed with value traps.I've long since sold AML, so I don't remember the timescale, sorry.I'm down 4% to 6% so far this year, my SIPP is only 40% cash now, I came back in much too early as usual.I'm not too bothered about a stock market downturn. More divis for less money is a cause for cheer. Some decent income at last, after a seven year wait........All the best.
devonplay
15 Jan 2016
Re: correction Hi Grey,I've got space left for JEMI before I hit the buffers of a full position.A little spot for more HFEL.If the sell off of Europe keeps coming I'll be adding to EAT, IDVY, maybe IEUR.PEY, is performing, but if feel the price is vulnerable, so if we big hiccup, it's on my add list. 7% yield gives me some comfort.AVIVA is one I'm keeping an eye on again. (Lloyds, I'd like some more AGR, but not at this price. More CLDN below 1100)And I cant really believe this, but M&G Recovery. I'm starting to feel there might be some value in it, or at least it might worth exploring.I'm not adding any new capital, so it'll have to be financed though my div income. Any idea when we get the Amlin cash? I've lost track of that a bit.DL
Greyinvestor
15 Jan 2016
Re: correction A couple of quick comments;I'm more pro AAIF at the moment; nothing against HFEL, but AAIF is on a whopping discount. I've been hoovering them up. Type AAIF into the Hargreaves Lansdown site to get quickest info (I use their site for research only).I'm mildly guided by this too[link] think that JEMI is a good buy, but I prefer AAIF (my first JEMI are down 27%!).I'm a long haul investor. I'm steadily filling my boots with AAIF, they are already full of HFEL.
Fabius1
14 Jan 2016
Re: correction TSWith regard to your post, Aberdeen (Gilbert & Young et al) have favoured India over China for a few years. Meanwhile, think we have a little bit more to go here.F1
devonplay
13 Jan 2016
Re: HFEL - Chinese Exposure Thanks for the share TS.I'm one with a long term horizon.Maybe one of those plodders Grey describes.I'm tempted to add at the moment, but I think JEMI might be my next add. @ it's 12 month low.After watching a documentary over the weekend, about Muscle Shoals in Alabama, I was reminded of how much more dangerous the world felt in the early 70's, late 60's.I'll watch the China; Don't Panic, Mr Mannering, video later.I recently added a little more Temple Bar IT.Cheers,DL
TwoSporrans
13 Jan 2016
Re: Second Leg down? All the best for 2016 DrugsThe Chinese must be loving $30/b crude.They will probably be able to pick up big chunks of State Oil/Gas companies at fire sale prices or 'secured' deals, where they are first in line customers for the oil/gas.In fact, they may even effectively bag the whole of the Venezuelan State Oiler, acting as a sort of IMF clone lender, as the State is essentially bankrupt and starved of credit.Whatever, the greater the fall in short term prices, the reciprocally greater their future resurgence as the lagged supply effects of ever more severe CAPEX cuts take effect.I'm assuming here that there won't be a medium-long term demand collapse in parallel.Much the same cyclical reasoning applies to other commodities.However, as you've mentioned gold and the $, will gold also turn up, buoyed by resurgent Asian demand in particular, when the $ worm turns South?I'm afraid I have little to offer in the way of original ideas or insights at present.Which is why, throughout 2015 I was 60% into Direct UK Commercial Property in ISAs etc and 70% in Pension.Paid off though; e.g.:[link] made a tad over 10% for the year.Think I'll begin selling into cash soon though; the best is over and the risks mount, even though rental growth will probably continue at least a few months if not through 2016, albeit tapering.I'm going to post up a HFEL take on the very asymmetrical China situation and opportunities there as HFEL has a 17% weighting in the PRC + ~10% in HK and Taiwan.My take is that the longer your investment horizon, the less brave you need to be to have a stake; still you need at least a modicum of courage.CheersTS
TheDrugsDontWork
30 Dec 2015
Re: Second Leg down? Hi TS,it's true as you said "Global growth concerns continue to dog the investor mindset."A few years ago Gold was seen as a bit of a safe haven as people fretted about the credit crunch and I think many global investors are buying the dollar in the same way...It's not that they like the dollar just that they think they will be able to get out of the dollar when they do see something they like. So when people pile out of the dollar (I have no clue when) diverse holdings such as HFEL will do well.Thinking back to the Telecom Media and Technology crash a result of that over investment was that too much fibre optic cable was put down. To put it in perspective we are only now starting to use much of that capacity up. This gave unusual companies like YOUTUBE a free lunch, you could not have started YOUTUBE before the bust and it would have cost a lot more now.Well I think it is safe to say we are near the bottom of the commodity super cycle ...at last, phew...So now Iron Ore has fallen 175 to 47 dollars a tonne oil is below 50 dollars ... I wonder what new business models will step in to feast on the glut.My guess is that, especially in the Africa where the mines were probably marginal investments, there will be business models we have not considered. The obvious answer is airplanes and rail infrastructure. If you have any out of the box thoughts would love to know, I would also hazard a guess that much of the financing will be done by the Chinese but that is another story
TwoSporrans
21 Dec 2015
Re: correction Thanks for the IAPD feed Greyinvestor.Tricky trying to compare performance with HFEL because IAPD data on its site is for Total returns while HFEL is just for the capital; i.e. HFEL is quoted without dividends reinvested.Made a cursory 10 year comparison and maybe their performance is similar; not wildly different for sure.Had a more precise stab at a 3 year comparison and HFEL seems to come out well ahead.IAPD Total return ~20% to yesterday; HFEL down about 14% but that's excluding its dividend payout. The compound benefit of the dividends reinvested must be significantly over 15% though I guess less than 20%. Say 17% and that IAPD -20% v HFEL +3%.OK, I haven't looked at charges but as I hold HFEL shares directly, there is no charge there while IAPD charges are ~0.6%pa.One reason HFEL has done better over 3 years is it has a much more diverse approach these days, both geographically and importantly, as its focus is more on dividend growth than simple high dividend payout.IAPD focuses entirely on the latter and has a very Australasian exposure: 66% is Australia+NZ; 17% Hong Kong, 10% Singapore, 6.6% Japan and that's it.Guess IAPD is lower risk to extent all its holdings are companies that are based outwith China and other nations with 'regulatory' issues. [HFEL is 17% China, 8% India, 4% Thailand.......20% Australasia, 13% S-Korea, 11% Taiwan, 10% HK, 6% Singapore.....]Then again, the bigger Chinese risk is the economic one and it may well be that an Australasian exposure, particularly in commodity based companies [Hence Chinese heavy industry and construction], is actually going to do very badly, while a direct Chinese exposure, to companies dedicated to the growth sectors there [consumer, tech. services etc] could be one of the few good games in town for 2016, 17....India is arguably the best global growth prospect the next year or three, with all the usual caveats.Dunno; think I'll stick with HFEL and also some more [dividend] growth orientated alternatives for now.Thanks TS
Greyinvestor
06 Dec 2015
correction Sorry, I should have said IDVY versus EAT.Funnily enough the best comparator to HFEL in the ETF world is IAPD. The results are very similar over the long term, but HFEL pays a bigger divi most of the time.
Greyinvestor
05 Dec 2015
Inv trusts v ETFs I spent many days reading books and studying comparatives of ETFs v Investment Trusts.In summary, everyone recommends ETFs.My experience is exactly the opposite. I recommend plotting SEDY v JEMI, IUKD v KIT, IAPD v EAT. Then you'll arrive at what took me a very long time to understand. Value tends to pay in the end.HFEL has been paying out too high a divi, in my opinion. But I still have a large holding, and intend to hold it forever. I also hold quite a few AAIF.I also recommend looking at this.[link] look forwards, not backwards. The past is a guide to the past, in my view.Now you know what I know.I use it to guide me, but not to make my decisions........All the best from a plodding investor.
jd1980
26 Nov 2015
Re: Rubbish charts on iii HFEL v SS... Yeah nice review 'BadNews' abt min cost etf and its long term effects.After looking at HFEL v SST for 2 weeks, i'm leaning to HFEL as i like the idea of investing in Asia Co's that focus on making a Divi - added to their discipline etc. I'm waiting another 2 weeks before i make my final decision Thanks for all the posts JD
badnews
25 Nov 2015
Re: Rubbish charts on iii HFEL v SS... One word - TRUSTNET. Trustnet charts give the true picture with total returns and will astound you on the potency of compounding dividends.Why not consider a low cost ETF with a similar yield? IAPD, EMDV, SEDY and the new wisdomtree one DEM.I'm fed up with fund managers and their high charges. HFEL has a circa 1.2% TER, whereas the average EM ETF has a TER of 0.5%.Let's say over 30 years emerging market returns average 8% excluding costs. For a 10k lump sum HFEL returns 76,464.52. A low cost ETF returns 94,215.34.That's nearly 18k you've spent on pin-striped suits for managers who, on the whole, fail to beat market (average) returns.
