The new CGT tax rate came into force in October. How will this be calculated on the CGT return where have some gains at 20% and others at 23%? |
The individual CGT allowance for FY 2023-24 is only £6K. This goes down to £3K from this financial year. |
Been a while. |
New 52 week high |
And their respective NAVs may tell an even different story ... |
Quite different a few hours later, in fairness:
CGT - down 0.7%
PNL - down 0.8%
RICA - up 2.2% |
The infra stuff that got clobbered by rising rates also down as we have the prospect of rates being lowered.. |
CGT - down 2.3%
PNL - down 1.3%
RICA - down 1.3%
Nikkei fell 12%, FTSE currently down 175, if this isn't the market for these ITs to shine, what is? I've a very large allocation to CGT, but there'll come a point soon where correct calls/wrong allocations mean it's better to go it alone. |
Ruffer is down despite their calls coming good (for now). If they don't react to a situation like this soon then they really are pointless holds |
Finally, I think to myself, CGT's positioning will come good in a market like this.
Down it goes.
Strikes me the wealth preservers, who claim to have been wrong for 18 months but actually more like 5 years, call things right but often get the positioning wrong.
"Inflation is coming" - spot on.
"We've loaded up with Linkers in preparation" - oops.
Or:
"The Yen is massively undervalued" - spot on.
"We're buying Japanese stocks to benefit" - oops. |
Always interesting to see what trusts its been nibbling at, taking into account its cautious nature, detailed knowledge of the sector and not being averse to a public utterance if it feels a board is slacking.
[...]
Sorry, won't allow the link, but the full Y/E port list is on the reports and docs page. |
I'm adding most months in my defensive SIPP. |
A bit to digest in there. Makes me wonder about owning a couple of Linkers rather than CGT at some point. |
Can't go bust taking a profit, well done.
That was my initial reason for buying, but I like that I know I'll be able to close anytime, not far off NAV, and feel like their TIPs rational may finally work out. |
Been selling mine down now the discount has closed |
Possibly their views on sticky US inflation finally coming to pass - just needs an early rate cut or two to confirm. Loaded with TIPs but it's been a long slog the past 3 years.
Now my 2nd largest holding after API perked up & gained top spot. |
I'm starting to add this every month in my SIPP. I think its fairly well positioned for relative safety given the inverted yield curve. |
Buying back in size, albeit I wish they'd do so lower to add more NAV, but also good to see the cum-NAV top £48. |
From daily buy backs of c.2,000 shares, it was 39k & 27k in the two days reported post-court approval.
Is it going to become relevant that the max is c.3.1m? It's not all that many months at that rate. |
"The 101p gain to £46.36 puts the shares back close to the 2% discount at which they stood at the end of October when an administrative error delayed the reclassification of its share premium account into distributable reserves."
So perhaps a little more to go still. |
OK I didn't read this:
"The Order of the Court approving the cancellation (the "Order") will only become
effective once it has been registered with the Registrar of Companies in
Northern Ireland. The Order is in the process of being submitted for filing with
the Registrar of Companies and is expected to be registered shortly.
The Board will make a further announcement to the market in due course to
confirm the date on which the current operational restrictions on share buybacks
under the DCP will be lifted."
So I assume the buy backs still aren't able to be done in the size to get it back within a % or two of NAV.
In which case, there's surely easy money to be had here - but less so when considering stamp/spread. |
I'd expected the discount to NAV to close to zero once full buy-backs were permitted again - what am I missing? Doesn't look to have come in at all. |
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