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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Investec Pref | INVR | London | Preference Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 562.50 | 07:47:32 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 562.50 | 562.50 | 562.50 | 562.50 | 562.50 |
| Industry Sector |
|---|
| GENERAL FINANCIAL |
| Top Posts |
|---|
Posted at 04/4/2024 08:29 by bondofbond There is no proper ringfencing of preference share capital between the UK plc and its South African parent - in fact, Investec Group still counts INVR (issued by Investec Plc) amongst its regulatory (and accounting) share capital under South African rules. So my assumption is that INVR carries SA country risk, with little protection granted by the fact that the issuer is a UK Plc. As a thought experiment - if Investec Group gets in trouble, why wouldn't they tap into all capital resources avallable to them?You can find INVR shown as consolidated within Investec Group SA on page 127 hxxps://www.investec |
Posted at 03/4/2024 10:41 by cerrito Papy02I also have concerns ref SA and have had since I first purchased INVR 10 years ago and yes it has constrained my holding. FWIW I note that on the the last TU INVP says that of the £31n core loans £14b are in SA and £17b ex SA and £19b of deposits in SA and £21b ex SA. My reading is that servicing of the INVR dividends is not dependant on capital flows from SA. |
Posted at 28/3/2024 13:10 by cassini There's Investec plc and Investec Limited, the first is the UK side of things, the second is the SA side. They havv business in Asia too.I believe they are legally distinct but nevertheless operationally intertwined. I presume you are worried about SA becoming a failed state? I'm afraid I don't know enough about the subject to say whether some 'event' in SA could derail INVR. INVR is the only linker pref I know of, try the FIX board for info maybe? |
Posted at 28/3/2024 11:59 by papy02 I have an excessively large (for me) position in these.The reason is I hold an equal amount of INVR to a basket of 2 conventional Prefs (NWBD, GACA), to mitigate capital gains/losses due to interest rate (perception) changes. (As INVR price moves inversely to conventional Prefs). It has worked perfectly from that perspective since I invested mid last year. And delivered a great yield from the combined holdings, while running close to zero “duration risk”. My problem is I would like to scale up this approach. I can diversify the conventional Prefs no problem, but I don’t know any “linker” other than INVR. I am particularly uncomfortable about the (admittedly tenuous) South Africa link with Investec. I’d prefer to own nothing with even a tenuous exposure to SA. Has anyone here dug deep into the SA link, and is willing to share their conclusions? Or any other candidates for a “linker” other than INVR? Where yield is a function of BoE base rate or similar. Many thanks |
Posted at 15/11/2023 08:35 by joey52 Dividend announced this morning 29.08904pLast day to trade cum-dividend Tuesday 28 November 2023 Shares commence trading ex-dividend Wednesday 29 November 2023 Record date Friday 1 December 2023 Payment Date Tuesday 12 December 2023 |
Posted at 14/11/2023 07:30 by rimau1 Good, then it should take you 2mins to compute the actual dividend payout and let me know... tia |
Posted at 14/11/2023 07:00 by aishah The dividend accrual dates are 31st March and 30th Sept. So the base rate weighted avg needs to be applied from 1st April to 30th Sept for the next divi payment imo.Running yield really good though as you indicate. |
Posted at 29/9/2023 11:11 by aishah When is the ex-divi date? |
Posted at 03/7/2023 14:43 by papy02 Many thanks for your good advice rota, which I have passed on.The key risk with the main investment in a gilt ladder is runaway inflation/ interest rates. While INVR brings credit risk and interest-rate price-risk, it does mitigate that runaway inflation risk. So maybe a 5% allocation to INVR helps balance overall risk. (I’m tempted to say 10% as 5% won’t really move the needle, but am not yet comfortable that I understand the price-risk in particular). This is the first time we are coming out of a massive QE experiment. I tend to the sticky inflation view, but no-one really knows, especially given future pandemic possibility, so I try to stay agnostic when considering risks. |
Posted at 06/6/2023 15:20 by return_of_the_apeman !FOLLOWFEEDINVESTEC PLC (INVR) NON-RED NON-CUM NON-PTG PREF Something to consider, if you feel interest rates will continue to rise and/or stay higher for longer, you might want to consider the INVR pref Section 3.2 of the prospectus outlines the payments based on UK base rates Which equates to 10*(1+base rate), so currently 10*(1+4.5) = 55p per year To get the actual interest you have to pro-rata the different base rates in the accrual period, so as the base rate rises you get slightly less, and as it falls you will get more than the rate on the day of the divi Some indicative figures below Base rate Payout 2% = (20+10)/530 = 5.7% 3% = (30+10)/530 = 7.5% 4% = (40+10)/530 = 9.4% 4.5% = (45+10)/530 = 10.4% 5% = (50+10)/530 = 11.3% 5.5% = (55+10)/530 = 12.3% 6% = (60+10)/530 = 13.2% Link to prospectus Feel free to mention any other floaters on this thread :-) Goes ex-dividend around the first week in June and December with payments around 2 weeks after |
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