Investing in Libya, Iraq etc through ISA?

jamespearson

Hi, I am investing my mother's ISA. I woudl really like to buy soem stock in Libyan companies, Iraqi companies etc. Her ISA provider, Hargreaves Lansdown, are not able to do this. A) is this sort of investing permitted by HMRC?, Does any one know an ISA provider that would let me invest wherever I wanted?

Onawingandaprayer

Any reason why? Did she mistreat you as a child?

Voyager2002

jamespearson wrote: »

Hi, I am investing my mother's ISA. I woudl really like to buy soem stock in Libyan companies, Iraqi companies etc. Her ISA provider, Hargreaves Lansdown, are not able to do this. A) is this sort of investing permitted by HMRC?, Does any one know an ISA provider that would let me invest wherever I wanted?

I hear that Syria offers great opportunities as well.

Reaper

jamespearson wrote: »

A) is this sort of investing permitted by HMRC?

They say you can invest your ISA on any "recognised stock market in the world", but good luck trying to find out what their definition of "recognised" as they don't seem to publicly define it.

Does any one know an ISA provider that would let me invest wherever I wanted?

Well I think you can cross off the smaller providers, but you may have more luck with the bigger ones. For example Jarvis will allow you to buy on a variety of overseas exchanges (sorry I don't have a list for you) whereas their cut price offering called XO is limited to the UK.

However do you really want to buy individual stocks on obscure exchanges? How about investing in a Frontier fund instead and leaving them to make decisions about what and how to invest?

sabretoothtigger

Voyager2002 wrote: »

I hear that Syria offers great opportunities as well.

GPX has Syrian assets. GKP is the Kurds in Iraq, so is HOIL and GENL
HOIL has a company in Libya and Nigeria recently

GPX also shares wells in the Gulf of Mexico so is not a complete wildcard. I would hold off for a conclusion to the chaos. Iraq is just as bad possibly, Kurds are more peaceful but not if at war with their own government.

You might have more luck doing a small amount with a SIPP but I would not use a fund to try and capture the entire market. It might be smart to buy companies which supply these markets potentially and trade on LSE. WEIR makes pumps for oil and gas and so on

jamespearson

Thanks, guys. I'm convinced that they offer better opps than in anywhere else that I know of... It seems to me that the growth prospects of EU, US and China are weak and it is best to invest in recovery where possible... Libya and the Iraqi telcos offer that...


Woudl prefer to buy directly than through a fund. If anyone knows of an ISA that might let me do this then pls let me know.

sabretoothtigger

The main point is you dont have to dive right in. IRAQ has 1950's technology on their oil wells.

You can just buy british companies which sell to Iraq or others. If you ever heard that saying, more profit in selling the shovels to gold miners then the gold rush itself because you are talking extreme and absolute risk with a little gold claim and mining is expensive, etc

China is weak long term from bad population growth, aka japan but before japan screwed up it boomed.
Short term China is 1970's japan setting, its still growing, massively so if their currency strengthens vs the dollar. Why, because china is over a billion people and if their currency rose it means these poor people are now much richer and able to buy. Hence growth possible

jamespearson

Just dubious on China, their steel usage per person is pretty much the same as when it peaked in US, Japan, Euro after war. One hears terrible stories of there being office space of 5 sq feet for each Chinese. That's just a personal view. Anyway, Iraq and Libya are essentially oil plays so exposed to China, US, Euro, QE, War with Iran. A growing China woudl be great news for both countries. Would buy the telco companies, which have double digit growth. Likewise in Libya would buy the banks, telcos, oil service companies etc. I have a little exposure to the London exchanges for myself, Falkland and Chariot are the main two. I'd rather put money into countries that have crashed and are on recovery rather than those that are still going through that process. Likewise i'll buy Greek stocks 6 months after default...

xylophone

Is your mother happy with all this? Can she afford a total disaster?

Voyager2002

xylophone wrote: »

Is your mother happy with all this? Can she afford a total disaster?

Indeed. Have you considered Marks and Spencer?

le_loup

jamespearson wrote: »

Hi, I am investing my mother's ISA. I woudl really like to buy soem stock in Libyan companies, Iraqi companies etc.

What about trying this idea out with your own money. When it proves immensely successful, you can share the proceeds with her, She will be grateful, [EMAIL="i@m"]I'm[/EMAIL] sure.