Global Investment Trusts

Thrugelmir

dividendhero wrote: »

For example Caledonian holds siginificant unlisted investments (which may well explain large discount) but none of the others do.

Caledonia Investments is controlled by the Cayzer family. Who still hold nearly 50% of the issued share capital. As the fund is effectively self managed. Then there's a keen interest in the performance.

Difficult to see how the discount will narrow. As share buy back would result in the family controlling even more of the shares.

With BAT under investigation by the SFO worth monitoring at the moment.

dividendhero

Thrugelmir wrote: »

Caledonia Investments is controlled by the Cayzer family. Who still hold nearly 50% of the issued share capital. As the fund is effectively self managed. Then there's a keen interest in the performance.

Difficult to see how the discount will narrow. As share buy back would result in the family controlling even more of the shares.

With BAT under investigation by the SFO worth monitoring at the moment.

As well as "skin in the game", these old money IT's normally take a long term view.

Regarding BAT, I wouldn't lose too much sleep on that. CLDN's holding is about half what most trackers exposure is and govt will be looking to shake money out of BAT rather than bankrupt them

ArchBair

I am looking at investing in a global IT and am considering Brunner - as anybody had any experience in holding this IT? The other IT's I'm considering is F&C or Bankers.

I would appreciate any views on these IT's?

bigadaj

I bought Brunner at the start of the year and it's performed well for the last few months though that's not real recommendation.

Reasoning was good discount, reasonable yield, I liked the geographic spread and good historic performance. I am a fan of diversification so have bought several ITs in the last year, whilst checking there's not too much duplication in holdings, I'm not a fan of high conviction single fund investments which means I won't shoot the lights out but similarly shouldn't lose my shirt.

ArchBair

bigadaj wrote: »

I bought Brunner at the start of the year and it's performed well for the last few months though that's not real recommendation.

Reasoning was good discount, reasonable yield, I liked the geographic spread and good historic performance. I am a fan of diversification so have bought several ITs in the last year, whilst checking there's not too much duplication in holdings, I'm not a fan of high conviction single fund investments which means I won't shoot the lights out but similarly shouldn't lose my shirt.

Thanks for your input bigadaj.When you say you bought several other IT's are these also global IT's?

Alice_Holt

ArchBair wrote: »

The other IT's I'm considering is F&C or Bankers.

I'm a fan of Global IT's and hold several in my portfolio.

In c.18 years of holding Bankers, the original £2,200 investment now stands at c.£11,500.
Haven't calculated it precisely but that most represent somewhere around 9% growth annually.
Helped by the increasing dividend payments.

Here is a review:
http://www.moneyobserver.com/fund-fact-sheet/The-Bnkrs-IT/ITBNKR

ArchBair

Alice_Holt wrote: »

I'm a fan of Global IT's and hold several in my portfolio.

In c.18 years of holding Bankers, the original £2,200 investment now stands at c.£11,500.
Haven't calculated it precisely but that most represent somewhere around 9% growth annually.
Helped by the increasing dividend payments.

Thanks Alice. As I mentioned I already hold a few global UT's but would also like to mix this with a couple of global IT's. At the moment the shortlist is Bankers, Witan, Brunner & F&C.

Apart from Bankers do you hold any of these?

MonroeM

ArchBair wrote: »

I am looking at investing in a global IT and am considering Brunner - as anybody had any experience in holding this IT? The other IT's I'm considering is F&C or Bankers.

I would appreciate any views on these IT's?

With respect but if you already hold 3 global UT funds and now want to hold the same amount of global IT's is this not a bit excessive?

I know some people hold 3/4 different global IT's but then they most probably don't hold 3 UT funds as well?

I would be interested to hear other people's views on this.

bigadaj

ArchBair wrote: »

Thanks for your input bigadaj.When you say you bought several other IT's are these also global IT's?

A couple of global, couple of uk and some regional, started with European assets just on a year ago, that's returned well over 20% in less than a year, and excludes the rapid sterling depreciation immediately following the Brexit vote.

I'm happier with a range of funds, not too small such that trading costs become an issue, but see no issue with having a couple of dozen or more.

ArchBair

bigadaj wrote: »

A couple of global, couple of uk and some regional, started with European assets just on a year ago, that's returned well over 20% in less than a year, and excludes the rapid sterling depreciation immediately following the Brexit vote.

I'm happier with a range of funds, not too small such that trading costs become an issue, but see no issue with having a couple of dozen or more.

I will tend to stick with global at the moment with some European IT's .

TR European Growth and Henderson European Focus Trust have done well for me up to now!

I personally think at the moment the right global funds that cover UK, US, Europe, Asia etc are the way forward but who knows?