Tony,
I compare this to ISHARES PLC CORE S&P 500 (USD) UCITS ETF (DIST) (IDUS) as I do with all my decisions on funds/trusts.
Over 1,3 and 5 years cgi is ahead, over 10 years if behind buy a huge amount. Did the strategy change or the managers? do you know? |
Simon Thompson indicated insiders hold 52.5% and the board are unable to repurchase shares to narrow the discount to NAV. Apparently would contravene it's Canadian investment corporation tax status. Cracking long term performer though. NAV per share reported to have increased 260 fold since 1969. |
agree tony, good value, but discount will never close, family controlled isnt it. |
Fund still more than 32% discounted! |
Cracking results from Shopify today up more than 11% (their largest holding here of 6.6%) |
Thanks AL101. 15% seems to make sense compared to what I have received to my account. |
25%, but the UK has a treaty that reduces that to 15% for UK based investors.
Guessing there's some form filling to be done for those that hold the Toronto listed shares. |
is cgi dividend liable to withholding tax? If so what is the tax rate in an ISA account? Thanks in advance for any answers. |
Yep, got mine paid on the 17th in sterling. |
Mine has arrived today :-) |
Dividend has appeared as 'pending' in my ii account, settlement date today.
It might have been there a couple of days for all I know - it's not immediately obvious, have to go cash, switch currency to USD, and there it is.
(I'm new to ii, so still finding my way). |
Had to ask Hargreaves where was the dividend. Reply was to be in accounts tomorrow. |
Ah, if iWeb only posted today and I'm not on my own, I'll give them another 24 hours or so before pinging them a message.
Thanks! |
.(duplicate post, sorry) |
I'm with ii, too. No sign of a divi yet. |
I've received it at iWeb, posted to account today. |
I have a dividend due 15/3 here, but haven't seen it hit my account. That's unusual, I normally get them same day with interactive investor.
Anyone else got/not got divi? |
It will matter if the exchange rate goes against you when you wish to sell. Bought more today.
Ha Ha...someone just voted my logic down! |
Trading in US$ or canadian is no problem with Interactive Brokers, and cheap. So does not matter to me. |
Well, I topped up today (UK) and the spread was around 0.8%, so is fluctuating. |
I think you would be buying in Canadian dollars then, so part of your destiny is also down to the currency rates. Just some recent peaks and lows below:
Feb 2021 = currently around £1 to 1.76$ canadian
Feb 2016 = was around 2.01$ canadian
Aug 2019 = was around 1.61% canadian
In my experience when dealing with US dollars, the broker did not give particularly good rates when converting back to £ if you need to do this. However things may have changed recently and you would need to check with your broker. |
So buying in Toronto is the best option as 4% spread is ridiculous and buying within it is rarely possible. But that could be true for many other shares, so why bother with the UK at all? |
He did but what he says appears to contradict your experience...
"The insiders hold 52.5 per cent of the shares, too, the lower than average 47 per cent free float being another reason for a wider discount as there could be a perception that the shares are less liquid. However, they are readily tradeable on a 0.6 per cent bid-offer spread in Toronto where 50 per cent of the 20.86m shares in issue are held. In London, the bid-offer spread is 4 per cent, but it’s possible to trade well within that. Buying the Toronto-listed shares is my preference." |
He didn't mention that its so difficult to buy a decent number of shares in it, and the spread is so wide. |
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