Gen.acc.8se.pf Discussion Threads

[skyship] 11/2/2010 12:01

A reasonable two-way trade going on between 111.5 - 115.5; ie in the yield range of 7.7% - 8.0%. After The Inflation Report & Mervyn King's comments interest rates surely won't be going up anytime soon, so this secure yield certainly seems attractive.

I'm 50% CASH, so may top-up again if I see a cheap offer...

[envirovision] 04/2/2010 12:13

Any one catch Avivas results today, fantastic stuff:

From RNS...

AVIVA REPORTS ENCOURAGING FOURTH QUARTER SALES

Improved fourth quarter sales · Life and pensions sales of £8 billion in the fourth quarter, up 21% on the third quarter of 2009

· Strong regional performance with life and pension sales up 17%
in the UK, 39% in Aviva Europe* and 45% in the US compared with the
third quarter of 2009

· Sales volumes managed to ensure capital efficiency and profitability

· Worldwide total sales for the year of £36 billion (2008: £40 billion)
Capital position strengthened · IGD solvency surplus estimated at £4.5 billion (2008: £2.0 billion)

Strong strategic progress
· Successful IPO of Delta Lloyd
· £0.5 billion being paid to policyholders for reattribution of UK inherited estate
· Completed sale of Australian life business........

Avivas credit ratings were last published and updated on 5th August 2009. See

Surley this will prompt further upgrades?

[skyship] 11/1/2010 12:10

Nice to see these recovering after that sell-off back at the end of November. At 115p the yield is 7.7%.

For high yield seekers, if not yet aware, take a look at RUSP. At 94p the yield is 12.75% - paid quarterly; and RUS seems to be more secure than that pref share yield suggests. Worth researching...

[envirovision] 02/12/2009 10:02

I agree with starships graph, i dont agree with the certain possibilitie of sky high interest rates again though. Therfore I remain a buyer rather than a seller and infact have bought a couple of lots yesterday.

[spittingbarrel] 01/12/2009 18:07

Cheers skyship, still doesn't really explain why aviva prefs in particular are getting smashed. cpbb, nwbd, llpc, bp.a etc all seem ok. I think stab/c got hit when stan had a wobble over the Dubai mess.

[skyship] 01/12/2009 17:48

I sold my 10k AV.A the other day @ 21.75XD - but unfortunately reinvested half by topping up my GACA.

The reason for my sale was the creeping certainty that the BOE has finished with QE and will, sooner than it would like, be forced to raise interest rates to sell the massive gilt issues to fund our (Labour's) debt.

We all know it is coming, but even MS in their scare-mongering client note (see link below) don't envisage the sort of interest rates which would justify this sell-off. Still, we could see a small further fall back to the 38.1% FIB retracement level 109 for a yield of 8.14%.

As far as I am aware there is no other reason for the sell-off – certainly nothing specific to Aviva!

[spittingbarrel] 01/12/2009 17:39

Nerja - it seems all the aviva prefs are being smashed but the ords are doing fine. Very strange.

[nerja] 01/12/2009 17:37

spittingbarrel, I have been asking the same thing,its not just these even the rock solid stac have been drifting down over the last week, something afoot.

[spittingbarrel] 01/12/2009 17:11

Anyone got any clues as to why these have gone down the pan?

[skyship] 16/11/2009 16:02

Just topped up with 5k @ 117.25p - hardly mind-blowing stuff, but still, an attractive 7.5% yield for a corner of my SIPP.

[envirovision] 13/11/2009 13:34

Managed to get anouther 10K at 118p today bargain price, cheaper than AV.A which also went x div, and yet gaca pays a higher yeild figure that one.

[earl strickland] 06/10/2009 14:43

Top man, tiltonboy!

[tiltonboy] 06/10/2009 14:41

ES,

Senior moment. edited.

[tiltonboy] 06/10/2009 14:21

David Shepherd on a "Nelson".

[earl strickland] 06/10/2009 14:17

For Dunderheed

[old boy returns] 06/10/2009 13:02

Dope007 - I have managed to add your Aviva 5.091% to my fixed income spreadsheet as requested. It was a swine to find the details and an online price source but I eventually got there. You can see it at:



Hope you like it !

[gary1966] 06/10/2009 09:20

Might want to take a look at Co-op 13% ticker CPBC. Yielding 8.84% on the offer. Customer deposits are 107% of loans and so rock solid balance sheet.

Edit 10.29am

With regards to the Co-op 13% there is also a pricing anomally which will probably get closed as it has done on Aviva/GA prefs in the past.

CPBA yields 7.12%
CPBB yields 7.49%

Yet poor old CPBC yields 8.84%. If this corrects to CPBB then CPBC will be 173.5p on the offer and if it corrects to CPBA then it will be 182.5p on the offer. Can be bought currently for 147p and so a good yield in a very safe bank with potential for between an 18-24% capital gain in a short space of time.

[envirovision] 30/9/2009 11:29

Video why cororate bonds are still attractive interview with Eric Holt, manager of the Royal London Sterling Extra Yield Bond fund

[jaws6] 29/9/2009 11:32

Old boy
Thanks. Good update.

[old boy returns] 29/9/2009 09:23

To update this thread my Fixed Income Information Spreadsheet has now moved to:



SG - please could you update this thread's header with the new link?

I am still updating and improving it and am finally getting better automatic price updates for the more exotic securities such as the Argon bonds, Euro prefs etc.

I am also working on adding links from particular stocks to worthy relevant discussion board posts / threads so if you know of any such posts / thread please suggest them via the contact form on the site.

[envirovision] 23/9/2009 15:40

I note one of the directors bought 11,000 rusp the other day, guess hes expecting them to rise. None the less i would only have a small percentage in them as like i said i only want to hold investment grade stuff like gaca.

[mac15] 18/9/2009 16:14

enviro I have invested in prefs to get guaranteed income but also for the growth due to the mispricing cause by the institutions dumping everything in sight last year. Gaca and Av.a gave chance of 10%+ income plus fairly low risk opportunity to getting 60%+ growth as well. Eventually the growth prospect will peter out but leave a sensible income. Question is it may be sensible to switch to something like RUSP or NWBD to repeat the same trick. Gary has already switched and may be right but I'm currently happy to sit with these. Certainly been a good week for prefs.

[envirovision] 18/9/2009 15:49

Gary all well and fine if you want to take a big risks, but im not in fixed investments for risk, i want, well erm how can i put this, a fixed income if you catch my posistion. I dont want to wake up tomorrow or next month or next year to find the EU or HMG has decided upon some sort of penalty for me. Go on pretending theres no risk its all in the offering circular as much as you like, but the fact is at the simple stroke of a pen in some eu or treasury office, your contract is worth zero, ask anyone in the Westbrom, Nrock or B&B.

With the money i have and for higher risk opportunities I invest in shares, simply because of better opportunities for growth.

ps luck to you, and luck is what you will most certainly need imo.