Inherited portfolio-too much duplication?

dutchism1958

What are your objectives for your portfolio Thrugelmir. Mine are income first because we have 7 years before I can draw my pensions at 66 but also some growth/defensive ITs/strategic bonds for security. I worked for GSK for many years and enjoy some excellent divs and given the price drop am tempted to buy some more, their future looks encouraging.

StellaN

dutchism1958 wrote: »

Thanks StellaN,that is the ballpark figure I am considering too.

Absolutely no problem, you are such a nice person. Good luck with anyway you decide to go.

Audaxer

dutchism1958 wrote: »

Yes, the Artemis is 2 forms of the monthly distribution fund

Your original post included a fund referred to as 'Artemis Monthly Dist Strat.Bond'. I assume this must be the Artemis Strategic Bond I Monthly fund which is all Fixed Interest so quite different from the Artemis Monthly Distribution Fund which is a global multi asset fund.

Thrugelmir

dutchism1958 wrote: »

Thanks for sharing that info Thrugelmir. I am seeing quite a number of people with a strong leaning for ITs and that has been my path more recently whilst also trying to avoid the higher premiums and keep costs down.With my late father's additions I was getting to 30 odd holdings so this thread has helped me refocus and prioritise.
Thanks.

IT's are as far as I am concerned just a personal preference. Been investing for many years. This is the final destination that I've arrived at that works for me. I'll freely admit that I've burnt my fingers on enough occasions over the years. It's the the experience that one learns from. Though disciplining oneself to then follow the rules is the difficult part.

With many investors having a focus on chasing yield in this low interest rate era. The result has been that discounts on some IT's have turned into sizeable premiums in a relatively short period of time.

Thrugelmir

dutchism1958 wrote: »

What are your objectives for your portfolio Thrugelmir. Mine are income first because we have 7 years before I can draw my pensions at 66 but also some growth/defensive ITs/strategic bonds for security. I worked for GSK for many years and enjoy some excellent divs and given the price drop am tempted to buy some more, their future looks encouraging.

As I'm still working and have no need to touch the money (this is my SIPP portfolio). Primary objective currently is cash generation with which to build he capital value of the portfolio. With cash I can diversify the portfolio without having to trade and incur undue cost. Although markets may rise and fall. What really matters is the underlying performance of the companies themselves. The bulk of investment return is generated through reinvesting income (Einsteins 8th law of compounding).

Having an insight into a particular company or market sector is really useful when it comes to investing. When considering market drops in prices as a time to buy. Remember that analysts following a stock like GSK are looking ahead two or possibly more years . What's in the drugs pipeline. What drug patents are expiring. Allowing competitors to manufacture generic versions at cheaper prices. They've already announced a flat dividend next year to cover the cost of a strategic reorganisation. Last year GSK didn't generate enough free cash to cover it's dividend. Keeping up to date with events such as these are nigh impossible. Hence my preference now for IT's. Along with small cap companies that fall under the radar of the large broking houses.

dutchism1958

Yes Audaxer,sorry I was thinking of the inc only in my head,MY BRAIN WAS ADDLED BY THEN!
The Artemis monthly dist strategic bond i inc GB00B2PLJS27
The Artemis monthly dist fund class inst Inc global multi asset GB00B6TK3R06.
thanks.

dutchism1958

Thank you for that explanation Thrugelmir. Like some others here I wish I'd come to investing many years ago rather than relatively recently.
My wife & I are financially secure now and as such are looking to make our investments work for us through the reinvesting of income generated from our investments.
Thanks G.

kidmugsy

Bonds: I'm too ignorant to say, except that long-dated fixed interest and index-linked gilts would both be shunned by me.

I'd like some precious metals even though they generate no income - gold sovereigns if I knew how to store them safely, otherwise ETCs or the like.

With investment trusts I'm biased: we started our investing with those and so I have a soft spot for them. With the markets high and discounts being rather low by historical standards I'd be tempted to sell ITs and buy a global equity tracker fund/ETF. If markets plunged and IT discounts widened dramatically I would swap in the other direction.

dutchism1958

Thanks Kidmugsy!.

dutchism1958

Just an update from me..the solicitor has confirmed the transfer of my late father's ISA's could have only been transferred to a "surviving partner",not to myself.the tax rules will apply,so you were right.

I have since received 4 more ITs from my late father's account with HL which I either add to my existing portfolio or integrate into an existing holding.
They are Finsbury Growth & Income Trust(FGT) £9K, F&C global smaller companies (FCS) £12K ,Worldwide Healthcare(WWH) £14K. Princess Private Equity PEY £15K
My feeling is FGT is surplus to requirerments given that I already hold City of London for UK equity.
I have no smaller co's so FCS could go alongside Witan,Bankers & Murray International?.
I have no global Pharma/Biotech so WWH could be an addition?.
I have no knowledge of PEY so not sure whether that fits in or sell it to fund my global ITs.
That takes me back up to 15 holdings when I was aiming for a maximum of 12.
I know there is some pharma/biotech in Murray,Bankers & Witan so this appears to be duplication.
As before, your opinions on whether these could be keep/sell bearing in mind i want to keep holdings down and income generation is my main priority.
thanks.