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Share Name Share Symbol Market Type Share ISIN Share Description
CQS New City High Yield Fund LSE:NCYF London Ordinary Share JE00B1LZS514 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.10p -0.17% 57.60p 57.40p 57.80p 58.00p 57.40p 57.40p 747,082 16:35:23
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 20.0 17.6 4.5 12.7 236.48

CQS New City High Yield Fund Share Discussion Threads

Showing 301 to 325 of 325 messages
Chat Pages: 13  12  11  10  9  8  7  6  5  4  3  2  Older
DateSubjectAuthorDiscuss
22/3/2019
20:14
Trouble is, if you buy equities for a decent and rising yield (whether UK or wider) you're assuming economic conditions will support that scenario. You're disregarding the possibility that the world will suffer a significant recession which will erode dividend-paying ability and capital values. In such a recession, interest rates will fall, inflation will fall. These conditions favour bonds. The weak point of my argument above is that a severe recession can lead to bond defaults as well, so corporate bonds are vulnerable. But to counter this, if a company defaults on its debt, what has happened to its equity? Holding NCYF you need to trust that the managers have a good eye for safety margins. There's a case for holding this as part of a portfolio, and I think it's a lot better than a high yielding open-ended corporate bond fund where redemptions of units can cause havoc.
jonwig
22/3/2019
19:34
Good point shalder. When this current madness finally ends it will be time to re-evaluate, but not until. With stocks such as Aviva offering an almost identical dividend yield and arguably a far higher upside in normal times (whatever they are) I can see sense in making a switch - but we are not quite there yet.
lord gnome
22/3/2019
17:30
Good summary of the position CC2014. Personally I have just switched out of this into UK income ITs which at today's levels can easily provide near to 5% yield and rising, plus they mostly have high revenue reserves to underpin dividends. That plus potential capital gains when the current madness easaes off make them a better bet than NCYF where difficult to see much price upside, especially as they are currently trading at a significant premium to nav.
shalder
22/3/2019
15:39
Thanks again.As usual the quality of options on these less busy boards is excellent.Think I will leave them be for now.
tim 3
22/3/2019
09:35
Thanks Jonwig. As ever you are on the ball with the details. Something I need to work harder on.
cc2014
22/3/2019
09:00
CC2014 - last annual dividends (4.45p) cost £18.2m whilst last half-year revenue was £9.75m, suggesting an annual £19.5m. Gearing helps, of course.
jonwig
22/3/2019
08:51
It's not really paying 7.7% is it as the underlying investments don't produce that return so we have capital erosion. Having said that I'm happy enough that even with capital erosion there is a decent enough return here. My view is as follows: 1. If no-deal Brexit then holding any UK asset whether equity or bond isn't going to look too clever 2. If soft Brexit or A50 revoke then we will see capital inflows to both equities and bonds. But some bondholders will switch into equities so I'm not sure what the net flow into something like NCYF will be. Over time interest rates will rise and we may well see NAV fall for a period whilst NCYF replaces expiring bonds with low yields with new ones with higher yields. I think if you aren't bothered about a secure income flow, it's probably time to switch into equities right now as the equity market in the UK is at a 30 year low compared to it's peer group. If a secure income flow is important to you then NCYF is as good as place as any right now.
cc2014
22/3/2019
08:32
Thanks guys, no it doesn't have to be this or cty I don't see interest rates going up any time soon.I have about 10% of my portfolio in here and think it might be a little high particularly looking at its some of the falls recently so may just reduce a bit cheers.
tim 3
22/3/2019
08:14
I'm here for income, so as long as it keeps churning out the regular quarterly dividends I will be happy. Interest rates are likely to stay low for a long time to come and a yield of 7.7% for anyone buying today is a good deal.
lord gnome
22/3/2019
06:26
tim - must it be this or CTY? I reckon there's room for both. If you think interest rates will stay low "for ever" and a global recession is likely, a bond fund such as this should at least deliver the dividend, if not the capital growth. I reckon it's better than an open-ended bond fund as it won't be squeezed by unit redemptions.
jonwig
21/3/2019
23:38
Any views on the longer term outlook here has it changed much? Not done great on these and notice the NAV has dropped (although its bounced a bit recently) Down slightly and considering switching into one of the bug investment trusts like cty. Any views? thanks in advance.
tim 3
25/1/2019
09:44
Top 10 Holdings (%)1 Punch Taverns 7.75% 30/12/2025 3.84 CYBG 8% Variable Perpetual 3.32 Shawbrook Group 7.875% Variable Perpetual 3.12 Perform Group Financing 8.5% 15/11/2020 3.05 Galaxy Finco Ltd 7.875% 15/11/2021 3.00 Rea Finance 8.75% 31/08/2020 2.73 Wittur Intl 8.5% 15/02/2023 2.37 Onesavings Bank Plc 9.125% Variable Perpertual 2.34 Barclays Bank 7% Variable Perpetual 2.33 Euronav Luxembourg SA 7.5% 31/05/2022 2.29 Top 10 Holdings Represent 28.39
neilyb675
25/1/2019
09:42
most recent fact sheet https://ncim.co.uk/wp/wp-content/uploads/2019/01/01-HYF-Fund-January-2019-Factsheet.pdf
neilyb675
24/1/2019
14:34
XD accounts for 1p drop.
jong
24/1/2019
14:33
Anyone know the reason for the big drop today?
andyj
28/12/2018
10:40
Not hedging their non stirling holdings has paid off as the UKPound fell.
kiwi2007
14/11/2018
18:42
Another research report: Https://quoteddata.com/research/cqs-city-high-yield-escalators-sky-2/?utm_medium=email&utm_campaign=NCFY%20-%20131118%20-%20QD&utm_content=NCFY%20-%20131118%20-%20QD+CID_99da1a22d4e6335ba6a62f8b8eef2dd5&utm_source=Campaign%20Monitor%20emails&utm_term=view%20report
jonwig
10/9/2018
18:19
Certainly agree with the above to the point where I wouldn't buy a bond fund at a premium to nav, and NCYF is currently priced at a premium of over 6%.
shalder
10/9/2018
16:22
htTps://ftalphaville.ft.com/2018/09/10/1536589635000/Most-bonds-don-t-trade/ Citi, for their part, suggest that “investors wishing to prepare for a sustained sell-off in corporate credit act sooner rather than later”. Options include reducing core bond holdings, or using derivatives to reduce exposure to swings in credit markets. However, Basu does conclude with a warning: “sustained outflows remain a big risk, and no amount of hedging can compensate for that.”
kiwi2007
19/7/2018
09:59
1.45 pence per share (2017 - 1.45 pence) payable on 31 August 2018 to shareholders on the register on 27 July 2018, having an ex-dividend date of 26 July 2018.
neilyb675
23/5/2018
19:12
lot of selling recently. Worries?
petewy
01/5/2018
14:24
Just bought in here been following for a while.
tim 3
24/4/2018
09:39
Ex-div 0.99p 26/4/18
neilyb675
18/4/2018
15:29
thanks speeds wllm
wllmherk
18/4/2018
13:05
Dividend Declaration - HTTPS://www.investegate.co.uk/cqs-new-city-highyld--ncyf-/rns/dividend-declaration/201804181049563225L/ CQS New City High Yield Fund Limited (ticker symbol NCYF) today announces its third interim dividend of 0.99 pence per share (2017 - 0.98 pence) payable on 31 May 2018 to shareholders on the register on 27 April 2018, having an ex-dividend date of 26 April 2018.
speedsgh
Chat Pages: 13  12  11  10  9  8  7  6  5  4  3  2  Older
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