Red Across the Board

Glen_Clark

PenguinJim wrote: »

I refuse to find this interesting

Its clear from the title what this thread is about. So why do you click on it if you don't find it interesting?

PenguinJim

Err... that was my point. I'm not buying today and I'm not selling today. The only possible reason I could have for looking at the numbers today is because I find it interesting.

Edit: see? I'm back in this thread again! And I've checked the numbers three or four times since my last post! Gah!

N1AK

gadgetmind wrote: »

And what do you do what the market passes a previous peak?

Buy less, or buy nothing, I suppose. If you're trying to buy during market dips then you wouldn't want to be investing much when the market is reaching new highs.

It's not a method I'll be following, I'll be sticking to investing a fixed amount each month, because I'm not persuaded that keeping money out of the market when at, or remotely near peak, will lead to better returns.

N1AK

Ryan_Futuristics wrote: »

If a £10 million fund gains 15% per annum for four years, is rewarded at the start of its fifth year with £50 million in sales, and then declines 15% over the next 12 months, its official five-year total returns will be 8.2% annualised. That number will be printed in the prospectus and on Morningstar.co.uk. In aggregate, though, that fund will have lost more pounds for its shareholders than it made. The return on the average pound in the fund, aka Morningstar Investor Return, will be negative

That's a really dumb way of measuring fund performance; unless you think the amount of money invested in a fund each year should influence your decision to buy into that fund or not? One can only assume that morningstar wanted to find some new shiny, and simple to calculate, measure that they could pitch to investors to imply they provide some valuable insight.

Ryan_Futuristics

N1AK wrote: »

That's a really dumb way of measuring fund performance; unless you think the amount of money invested in a fund each year should influence your decision to buy into that fund or not? One can only assume that morningstar wanted to find some new shiny, and simple to calculate, measure that they could pitch to investors to imply they provide some valuable insight.

I must admit it does seem a little irrelevant - it would suggest it's a measure of the market timing abilities of the fund's customers more than anything

But then again, there could be some rationale I suppose if it shows that a fund can maintain consistent investor returns in spite of large capital inflows and outflows

It can be a test of a fund to see how it performs when it gets very large, and I suppose a big discrepancy between fund performance and fund return could signal that the fund's currently too large for its investment strategy? (First State are very good at shutting a fund off from investment once its own size risks the efficiency of its investments)

Kendall80

Ryan_Futuristics wrote: »

Good news from the FOMC meeting - expect a rebound across the board (essentially because nothing's changed)

So might be time to increase positions or rebalance any hard hit funds

I topped up woodford, FS Asia pac, US tracker, Euro tracker and Japan about 20 mins after I read the fed statement last night. My largest allocations. I also snuck a little extra into the Neptune Russia fund - glutton for punishment.

Ryan_Futuristics

Kendall80 wrote: »

I topped up woodford, FS Asia pac, US tracker, Euro tracker and Japan about 20 mins after I read the fed statement last night. My largest allocations. I also snuck a little extra into the Neptune Russia fund - glutton for punishment.

Woodford, Neptune Euro Ops, Lazard and JPMorgan New Europe here

I suspect my biggest regret in a few years time might be *not* putting a lot more into Russia now

Still, you don't want to be reckless - either way it'll be a learning opportunity

Ryan_Futuristics

Another reason I love Hargreaves Lansdown

Put my fund dealing orders in this morning, all submitted and dealt by early afternoon (not to mention all fee-free)

I remember when that used to take up to 5 days ... ETFs and investment trusts were the only way to catch the upside on weeks like this

Rollinghome

Ryan_Futuristics wrote: »

I remember when that used to take up to 5 days ... ETFs and investment trusts were the only way to catch the upside on weeks like this

Cripes, who the heck were you using then?

I seem to remember seeing that HL have now extended the cut-off time for fund deals placed on the internet to 9.00am from the previous 8.00am though will accept later orders by phone. (That doesn't mean the deal will be completed that day of course.) For Fidelity the internet cut-off time is 11.00am where the valuation point is at noon. Capita Financial will take orders right up to the valuation point as would, in my experience in the pre-platform days, the various fund managers.

Kendall80

Ryan_Futuristics wrote: »

Another reason I love Hargreaves Lansdown

Put my fund dealing orders in this morning, all submitted and dealt by early afternoon (not to mention all fee-free)

I remember when that used to take up to 5 days ... ETFs and investment trusts were the only way to catch the upside on weeks like this

Still takes about 4/5 days to go through on Charles Stanley although apparently the value is locked in at the next pricing point.


Couldn't resist a punt on Tullow Oil shares today.