City Of London Investment Share Discussion Threads

[slaphead240] 27/11/2013 20:54

It's great to see a new entry on this thread and I agree 100%. Perhaps a bit later than I had hoped I have started to put some funds in this IT for my retirement in a little over 10 Years. I have got my kids doing the same thing and they will have a 30 year head start on me. I went with my son to the recent AGM and I was impressed with Job Curtis and the board.

[damanko] 27/11/2013 20:14

An unusually quiet thread for such a quality Investment Trust, indicative I suppose of many private investor's radar when it comes to longer term stuff. But I know some of us are still around.

In 1994 (stay with me here .......) a friend had £900 spare, and asked for advice in what to do with it. I suggested that City of London IT might be worth a punt (as an even longer term holder). Her £880 is today worth £4,750 or so. She has done nothing except leave it alone and reinvest dividends.

Funny old world, as many say. On her original investment, Dame Ruby receives a little short of 20% income. In current terms, she receives several per cent more than leaving any money in a bank.

I'm (almost) minded to start a new thread on CTY, as this one is so underused and definitely under read. We'll see. Jolly good luck to holders, old - younger and just sensible investors............

D

[topvest] 28/5/2012 14:43

It deserves to be on a slight premium given its 45 year consecutive dividend increase record...now that's some record!

[beardmore] 28/5/2012 13:13

A profound insight, arja.

[arja] 28/5/2012 12:09

why does this trust trdae at a slight premium to NAV - unusual ? Could mean a big dip in share price if markets tank .

[northernlass] 11/5/2012 14:44

Moningstar Tips City of London Investment Trust (CTY.L)

Investment Trust Picks for Income-Seekers

Morningstar's Szymon Idzikowski explains why income-seekers should consider investment trusts and highlights a few of his favourites

Extract:

COOK: So for an investor who is looking to ramp up the income portion of their portfolio, are there any investment trusts that jump to mind that could be suitable for them?

IDZIKOWSKI: We actually even rated a couple of income funds. So, one of them is, for example, City of London Investment Trust (CTY). It has been rated Gold. There is a number of things we like about this fund. Its fund manager is Job Curtis, very experienced fund manager, over two decades of experience. He has been actually at the helm of this fund also for 20 years. That's a tenure that is rare to see actually, and what it means is that this tenure and the longevity of the tenure adds a lot of stability to the way he runs the funds.

So when you look on the process there have not been that many changes in the process. He was following the same consistent process over the time...and it paid back. I mean, the fund has generated progressive dividends for over 45 years.

COOK: That's some record.

IDZIKOWSKI: This is actually a record that has yet to be matched by any other funds.

COOK: So that's a great tip for investors.

Here is the link to the video and transcript:



P.S.

Here's a couple of links about SCLP, one of the hottest stocks at the moment:

[gregmorg] 19/1/2012 09:47

Topvest. Have you plotted RPI or even CPI over the last five years and compared that with the so called increase in dividend on this one? Management needs to sharpen up.

[asmodeus] 12/1/2012 13:09

And its recommended by Redmayne Bentley in today's Newsletter.

[topvest] 12/1/2012 12:43

I am holding and buying more on weakness - why? because it's been going since 1891, and has a 45 year record of increasing it's dividend. It's a quality play for growth and income over the medium term. How many other companies do you have that much confidence in...not many!? Anyway not a get rich quick company, but certainly not a get poor quick company!!

[gregmorg] 12/1/2012 12:35

I have held this stock in reasonable quantity since 2004 and must admit they are tedious and the growth in div is miserable. And that was why I bought it! Just hadn't realised how poor they are until recently.I suppose compared with various UK trackers they measure up but that is a lousy comparative. Why on earth am I holding this?

[chairman2] 16/5/2011 11:39

cash out for the summer doldrums

[beardmore] 16/5/2011 08:56

Well I've had 29% appreciation since buying (late 2008) and the dividend is a comforting 4.2%. It doesn't quite match up to Temple Bar and doesn't offer the possibilities of PIGITS Warrants (PLIS), but it seems a dependable old horse. Where would you re-invest?

[chairman2] 15/5/2011 18:23

weighing up lightening here

[ashtongray] 14/4/2011 17:27

Quite a number of the UK Income ITs are currently having to use revenue reserves to make up the dividend payments, not just CTY but also the likes of TMPL, MRCH, CHY. Many of these trusts had large BP. holdings so the hole in their income stream is substantial and (partially) continuing. I note that CHY has just bitten the bullet and reduced the dividend.

[kiwi2007] 14/4/2011 12:03

I think they are committed to paying 13p this year - partially out of reserves as you said.

[jodi17qad] 14/4/2011 11:50

I notice that according to ADVFN, the earnings per share are lower now that the dividends per share, which presumably means that part at least of the dividend will be paid from reserves, or the dividend will be reduced.

[chairman2] 29/3/2011 20:42

bit too exciting

that gearing effect

[chairman2] 10/2/2011 11:58

rolling over
or holding steady

or dead in the water like the board??

[chairman2] 07/10/2010 13:58

The manager seems to be getting all of the attention

does the fund own any shares in the manager?

[washbrook] 21/8/2009 12:43

JULY 31.7.09-UP DATE:-

[shauney2] 19/7/2009 22:05

From the Mail on Sunday

[washbrook] 13/7/2009 10:04

Investment Trusts View
JUNE30.2009
------------------
The UK equity market fell by 3.2% in June as
measured by the FTSE All-Share Index. The large
number and monetary amount of equity raisings
from companies adversely affected the market.
Overall, economic and corporate data continued
to indicate that the worst of the decline was
likely behind us, although confidence still remains
fragile.
The rights issue of $15bn from miner Rio Tinto
was the largest amount of new equity ever issued
on the London Stock Exchange. We sold some of
our Rio holding ahead of the rights entitlement,
given the company's strong performance since
the start of the year and its decision to omit its
interim dividend and reduce other dividends
going forward. City of London is significantly
underexposed to the volatile mining sector
compared with the market average; we are
sceptical that the rally in commodity prices can
continue given the overall weakness in global
demand. In addition, most of these mining
companies do not currently pay dividends
--------------------
TOP 10=45.8%
British American Tobacco=6.2%
BP=6.0%
Royal Dutch Shell=5.2%
GlaxoSmithKline=5.1%
Vodafone =4.9%
Diageo=4.9%
HSBC =4.4%
Scottish & Southern Energy =3.2%
Tesco = 3.2%
National Grid =2.9%

[washbrook] 13/7/2009 09:49

Dividend on the Ordinary Shares

A fourth interim dividend of 3.08p per Ordinary Share of 25p, in respect of the year ending 30 June 2009, will be paid on Friday 28 August 2009 to holders registered at the close of business on 24 July 2009. The Company's shares will go ex-dividend on 22 July 2009.


The total dividend for the year to 30 June 2009 will be 12.32p per share, an increase of 6.2% over the previous year.
---------------------
The share at £2= 6.16% yield
---------------------------

[washbrook] 19/3/2009 08:39

A third interim dividend of 3.08p per ordinary share of 25p, in respect of the year ending 30 June 2009, will therefore be paid on 29 May 2009 to holders registered at the close of business on 24 April 2009. The Company's shares will go ex-dividend on 22 April 2009.

[washbrook] 12/3/2009 09:31

END OF FEB FACT SHEET.CTY buys Smithsnews yld 6.7% divi covered 2.2 times.
Prosafe on the Oslo exchange.