Thank you Santar, much appreciated! |
Natspur: In no way professional advice but my experience is no US tax and that the management fee is charged to the fund, not the investors. |
Hello,Two questions that are probably silly but trying to understand the product:-for a UK-based investor: the shares trade on LSE in USD, does a US dividend tax get deducted when the dividend is received? (My guess is no as this remains a UK share so should only be liable to tax in the UK but just checking)-Getting a bit confused with these fund shares. Do you get charged the management fee mentioned in their report if you own the share or is this fee only for the investors who have invested money in the fund? (Again my guess is no) |
It's fixed guys - FAIR came back to me and they have worked it out with HL - apparently it was down to a third party vendor issue. Have just purchased without problem. |
Ah yes that is exactly the same reason they are saying for FAIR - very interesting. |
Its a power game isn't it they (HL) don't really care what we buy or what we don't as long as they can make some extra margin through using their scale with an assertive management style. My worry is that they will take the same line on decisions around distributions and corporate actions to us as shareholders where they are acting as nominees. I think it was RMII were people with other providers got 35% of their tender request but HL gave us the minimum 18%. Now there may be other factors but it just felt that a fast one had been pulled and would continue to be pulled.
Orwell said "If you want a picture of the future, imagine a boot stamping on a human face – for ever." a bit melodramatic, but is that what being with HL is going to be like |
Just to say (for any who don’t know) that Hargreaves are banning buys in a number of Investment Trusts including large Trusts like FTSE100 constituent, PERSHING SQUARE. The AIC and the Trusts themselves have tackled Hargreaves on this but they won’t budge. It’s scandalous. Hargreaves recommended Woodford’s rubbish Unit Trust right up to the day it was suspended. And Hargreaves allow buys in rubbish shares but not some high quality Investment Trusts. Talk about double standards. |
In case it could help, the Company and manager have generally been very quick to respond to queries sent to either contact@fairoaksincome.com or IR@fairoakscapital.com |
Yeah it's nothing to do with them being complex instruments - I already have a holding and regularly buy things deemed under that category. It's because they don't have this:
"assessment of value in their European MiFID Template, which is a key MIFID requirement"
I've written to Fair Oaks Capital to try and get them to provide one but they are just ignoring me. HL have also apparently reached out to them. Was going to invest my API proceeds into them so a bit annoying. |
Extract from HL explanation:
Complex investments
Some investments are considered complex and are not suitable for all investors.
You can only buy complex investments if you have completed the relevant questionnaire. This is so we can be sure that you understand the risks involved.
You can always sell complex investments without completing the relevant questionnaire.
We will periodically ask you to take questionnaires again. This is so we can check that you still understand the risks involved. |
Bert I last bought FAIR through HL in July, so it is definitely possible. The shares are rated high risk which is why you need to contact them on the phone. I am also fairly sure you will have had to complete the experienced/sophisticated investor declaration. Have you? |
Also available through Interactive Brokers |
Great thanks! Nope can’t buy via phone on HL sadly - can only sell since the end of November. |
FWIW it's readily available through iDealing, Youinvest/AJ Bell and iii |
Out of interest what platforms are you guys buying this on? HL is claiming that it doesn't have an "assessment of value" which is a MiFid requirement, so they are unable to allow purchases. |
Very low volume Correction tomorrow imo |
Big drop today. |
Yes indeed, a juicy dividend to look forward to :-) |
Added a few when the pound was at 1.34 to the dollar Nice juicy dividend Friday |
Blue, Given how some of my other investments have performed over the last couple of years I am not sure if there is more capital risk here, plus a fab dividend. |
Ex div today |
Downside?
Arguably more risk to capital than with your average share. And unlikely to have capital growth. But the latter point is more than compensated by the earnings. |
Blue. 14.28% is fantastic. But working on the adage that ' One doesn't get something for nothing'.
What's the downside here? |
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