"But, if I transfer to iweb, or another, only when my account is with ii, won't there be a charge ?"
Why haven't you looked at ii's charges? It's pretty easy. "No, we don’t charge any fees for transfers in or out. This includes ‘in specie’ (full) transfers, where you keep the same investments as your old account."
A few years ago the FCA had a go at brokers saying that transfer fees were anti-competitve and so they've become extremley rare. |
But, if I transfer to iweb, or another, only when my account is with ii, won't there be a charge ? |
Change boats when they are tied up at the jetty, not in mid stream. |
The Jarvis/X-O FAQ says the expected move will be in the, “summer.”; This GA money is due 12/06. “Summer” could be August.
Personally I wouldn’t risk it. I’ve had enough trouble getting normal dividends transferred across after in specie transfers to a new broker let alone payments for special situations that require the broker to do some thinking. Just switch away later on from ii if you have to. |
wmb194-
exactly. And iweb has been suggested to me. So, in theory, if we just let our accounts morph to ii, there should be less likelihood of a screw-up ? |
How much time do you have? Switching now increases the risk of screw-ups e.g., imperilling your voting fee.
Something similar to x-o would be iWeb. |
Anybody holding GACA or GACB with Jarvis ? Are you going to ii, or considering moving your PF elsewhere ? |
Same here.. |
Thanks CASSINI. That's bit worrying they've disappeared but reassuring to hear I'm not the only one! |
Viz ii/AV Prefs:
Portfolio>Manage>Corporate Actions:
I have AV.A listed there showing 'closed' but I also tendered GACA and it is missing, like yours, no mention of it |
Afternoon All
Wonder if anyone can help?
I have AV.A, AV.B, GACA and GACB with ii.co.uk. I tendered them all.
Anyone else got GACB and tendered them?
If so, when you go to the corporate actions page is the(now closed) action for GACA showing?
All the others, AV.A, AV.B and GACB are showing and you can click on each of them and see they were all tendered successfully. However the "closed" corporate action for the GACA line has vanished!
I'm as certain as I can be that it was completed and double checked but it's a bit disconcerting to see all the other closed corporate actions there-but the GACA one is missing!!
Anyone else's GACA closed corporate action line missing at ii?
Thanks |
Wmb194,
Thanks |
The GA memorandum states on page 5,
"The 8.875% Accrued Dividend Amount is an amount equal to ... accruals of the dividends payable ... calculated from the last Dividend Payment Date preceding the Cancellation Settlement Date ... up to and including the Cancellation Settlement Date..."
The last dividend payment date was technically 01/01/25 but actually made on 02/01/25. Someone check but I make that either 161, 162 or 163 days depending on whether you count it as including or excluding 01 or 02/01/25. 8.875p / 365 = 0.02431507p per day. 162 * 0.02431507p = 3.939041p. 163 days = 3.9633562p.
Or, from Aviva's/GA's pov, was the payment date 31/12/24 so 164 days = 3.9876712p.
I think 4p is okay. |
Anybody understand the accrued divi of 4p, the normal ex div for this would have been the 5th June at 4.4p, the cancelation date is the 12th ? |
I have held bonds directly in the past and done well out of it. However I have come the view that it is quite a risky thing to do, you only need 1 to cause problems and the whole strategy comes unstuck. There are decent bond funds like New City and BIPS which pay decent yields and have much less risk. |
mrf, it is a fixed term loan, and I don't think there is any right in the company to redeem early though I haven't checked the terms since my purchase years ago on the roll over fro the previous loan. If that is right, they would have to cross our palms with silver to get us to agree. With only 2.5 years to go, I doubt it would be worth them dong that.
The more likely scenario is that as the redemption date approaches they will want to secure future long (or at least fixed) term finance and may offer existing holders attractive terms for a roll over.
'Attractive' of course means a highish rate relative to interest rates prevailing at the time. |
1knocker (1273) - thanks - I realise that - just wasn't sure of where we were in the cycle. |
I think he means an early redemption as may be expensive debt |
I don't see that the merger will make much difference to it one way or the other. |
Also depends on merger if it goes through |
You buy them 'clean', so the price does not move on going ex div.
The accrued interest you would pay for buying now comes back to you would receive the full half year dividend.
I bought a few more this morning, at 98. Happy to be receiving 9% during the next 2.5 years of the Trump presidency with my money plus 2% back in November 2027, with the chance of a favourable roll over offer to refinance the loan. |
Probably still not a bad 2 and a half year play. |
Yes they are towards end . |
1knocker - am I right in thinking that the Enquest loan notes are due to pay out this month?
On edit - forget that - the accrued interest is showing @175 days. |
I hope to goodness not a Ponzi! It is a question of judgment whether the investments CQS NCHY holds are vulnerable, and whether the dividend is sustainable, but a Ponzi, enticing Peter in to rob him to pay Paul would be something else entirely!
I see ELLA and Standard Chartered's prefs are up again today. Just as well I bought those on the Aviva announcement rather than waiting until the cash is paid on settlement.
On settlement there could be quite a spike in pref prices, as my guess is that a lot of the PIs who hold these and the Aviva prefs are long term 'set and forget' holders who like the sector and will be looking to remain in it, especially in times of market volatility.
It will probably be wise to avoid buying as soon as the money arrives on settlement. Either buy ahead of hat if you have cash on account, or wait a while after settlement until that flurry of actin has passd through the system. |
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