Legal & General Share Discussion Threads

[thamestrader] 27/11/2023 13:45

If you want it in your SIPP by January, you need to start the process now, it can take a while!

[cassini] 27/11/2023 13:33

zac0_4

The returns on that 50/50 fund surprisingly appear quite good, but I'm only thinking short term as I'll be moving my L&G pot to my SIPP in January.

In fact the rolling 12 month return on that fund is +14%, exactly the same as their 'ex-uk' global equity fund.

That doesn't mean I was wrong to park my cash in their money market fund for the last 20 months as their Global 50:50 fund dipped in 2022 so it's just been recovering a bit.

I'm just trying to capitalise on any Santa Rally.

[123trev] 27/11/2023 13:13

A pure waiting game now but the inevitable I’m afraid is coming no doubt they will bleed as much as they can but only a fool would be investing in anything but cash now with risks running so high.

[netcurtains] 27/11/2023 11:10

An Indian Tracker fund could be good (it seems to work for me)...

[zac0_4] 27/11/2023 10:54

Cassini - good luck with funds. I'm a bit surprised you went for the 50/50 fixed weight Uk/RoW. That's a real confident view of UK equities when the UK represents only 4% of the global economy. I'd have thought you might have gone with a simple global equity option.

[mcunliffe1] 27/11/2023 09:28

Nice of you to update us CASSINI. I hope it works out well for you.
I can recommend the Interactive Investor SIPP. £12.99 a month, pays a decent rate on cash holdings, £5.99 deal costs (in the main) and a platform that I have not yet had an issue with.

They usually offer incentives to move to them - such as six months zero platform fee. They offer cash incentives to proposers so if you have any family/friends already with ii let them know and they can reap that reward.

[cassini] 27/11/2023 00:46

Well I have reallocated my L&G pension fund away from the 'Cash fund 3' I presently have, to wit:

L&G PMC Global FW 50:50 Idx GBP Currency Hedged 3

L&G PMC Fixed Interest 3

L&G PMC Aegon High Yield Bond 3

The PMC Global FW 50:50 fund is a mix of UK and global big-cap equities and hasn't done too badly this year. BATS, AZN, GLEN, RIO, ULVR, BP, DGE, GSK etc are some of its constituents.

The PMC Aegon high yield bond fund hasn't done badly recently either. The mix of credit ratings on its bonds is a bit janky compared to the credit ratings for the Fixed Interest fund though. Not one to hold too long or too much of...

The PMC Fixed Interest fund is mainly sovereign debt like gilts and has done badly, no doubt to do with interest rates going up sharply but hopefully future rate cuts will change its fortunes going forward and I'm buying in at a low...

Thanks for the replies.

This will do for now until I can transfer my L&G pension to my SIPP.

[cwa1] 26/11/2023 21:41

OK, it's shallower than the average paddling pool AND it IS a Motley Fool piece-but it IS vaguely on topic as it's actually about LGEN!



The stock yields a whopping 8.6%. In the FTSE 100, only four other companies offer a higher payout. Its also made strong efforts to improve shareholder returns. Next year marks the end of its cumulative dividend plan. By then, it expects to have paid out up to £5.5bn.

On top of that, with a price-to-earnings (P/E) ratio of just six, it looks cheap. This is around half the Footsie average.

[mcunliffe1] 26/11/2023 18:27

Why SAGA?

I appreciate there is a growing number of pensioners and, I believe, an increasing wealth amongst many of those pensioners.

But everytime I've looked at Saga for some service/product I've found a better alternative elsewhere.

[dudishes] 26/11/2023 16:23

If savvy, pick your own. Stuffed shirt and a tie, not for me.

These brokers are full of bull. Pick ya own!

Saga on the watchlist, bottomed? Worth a punt for ye oldies?

Me too!

[mondex] 26/11/2023 16:00

Cardinal, If you are looking at income paying ETFs what about SDIP (GLOBAL X ETF ICAV SUPERDIVIDEND UCITS ETF USD (GBP) DIS).

Relatively new ETF linked to the Solactive Global SuperDividend® v2 Index.."The Index tracks the performance of 100 equally-weighted companies that rank among the highest dividend yielding equity securities in the world, including emerging market countries, as defined by Solactive AG, the provider of the Index "

Charges 0.45% & is currently paying 11.75%. Dividends are monthly. Capital appreciation is not so good, but it is less than 3 years old

[1knocker] 26/11/2023 15:09

The consensus seems to be that the rationale for holding L Gen is that its not the place to invest your pension and other savings, which is good because the less that is wasted on the L Gen pensioners and other punters, the more there is for us!

[cardinal3] 25/11/2023 23:46

Thanks zac0_4

[zac0_4] 25/11/2023 22:06

Cardinal3 - here's some global tracker funds to take a look at:
L&G International Index Trust Acc
Vanguard ftse global all cap acc,
or ETFs,
LGGG
IUQL
RSGF

[pj84] 25/11/2023 21:48

“fenners66 24 Nov '23 - 11:02 - 4137 of 4176

I get the regime its designed to over time with inflation and more importantly actual wage rises to collect more tax.

But the bleating about it being a terrible stealth tax is disingenuous for me.

....”


Real terms actual wage rises would always result in increased tax even if tax allowances were increased by inflation and would if appropriate move people to higher tax bands because their real terms wages had increased.

The freezing of tax allowances is a stealth tax, as it is designed to collect more tax from wage increases that are only equal to inflation or even less than inflation. So, it is increasing the tax burden on people whose real incomes stay the same or even fall and it does it without appearing to be an increase in tax rates.

You may be of the view that it is an increase in tax that is needed and justified but a more transparent way to do that would be to reduce the tax allowances in one year and then continue to increase them in following years by inflation. Then everyone would be very clear that it was an increase in tax. Obviously for political reasons it is better if most people don’t fully understand their tax is increasing, hence it is called a stealth tax and they pay more each year until the freeze is lifted.

[cardinal3] 25/11/2023 21:36

Really interesting and useful thread with informative contributions all round, thank you. I'm well into collecting my defined benefit pension so here for investment purposes only and have Lgen and AV as part of my income seeking shares. Around 60% of my investments are individual shares, nearly all div payers, the rest a broad spread of investment trusts. I'm not sure about NG with the regulatory body bearing down and the risks of a new govt. I think I'm more likely to put dividends into IT's though picking them isn't easy with stock overlaps. I did wonder about ETFs and trackers, not just div payers, but they are outside my knowledge. In fact I wonder whether a shift out of shares or ITs there might be worth a thought. A pointer to a decent range UK managed ETFs/trackers might be the way to go and would be a great help if anyone could give me ideas. Thnks.

[bountyhunter] 25/11/2023 15:26

Regarding trackers any tracker tracking the S&P should have performed particularly well since the start of the pandemic..

[mcunliffe1] 25/11/2023 15:24

I spoke with a fin. adv. nine months prior to moving my pension. We discussed many things and touched upon some aspects the f.a. confirmed he'd never thought of. He suggested at the end that I didn't need his services which I considered to be honest.

I recall that about 40 years ago I was asked by a stockbroker (for whom I was developing a client valuation computer system) to get a software contract prepared. I was about six months into my self-employed software developer business and hadn't so far needed one. I was pointed towards a solicitor based in the same building as the broker.

I went, explained my needs and the solicitor disclosed he'd never been asked before to create such a contract. I'd worked for a large computer company for the prior six years so had some ideas. Solicitor asked me to put some down on paper. I word processed it for him and gave him the digital copy.

When the paper contract docs. were given to me later, some commas had been removed, some standard clauses added and an invoice was attached for a several hundred pounds. Quite an amount in those days. He was most thankful as he explained he'd keep a copy on his file for future use. I wised up to 'experts' at about that time.

[eurofox] 25/11/2023 14:56

I had a financial advisor once - I quickly became aware she was so good at being wrong that I retained her as a source for contrarian inspiration

[netcurtains] 25/11/2023 14:52

MC there is an advantage to having a financial adviser. It’s quite stressful being responsible for ALL of your funds. I like to spread the load with a financial adviser - it’s double advantage is I can gauge how well I’m doing compared to him (or her)

[mcunliffe1] 25/11/2023 12:35

I've been reading the budget proposals and appreciate that the Government 'will consult to allow workers a Pension Pot For Life'.

If this were indeed to happen it would allow workers at a company to choose their own pension provider and STILL get the employer's contribution paid to that provider. Currently, you only get the employer's contrib. if you elect to use the pension provider selected by the company.

Strikes me that this current setup offers the possibility that an employer may select a provider in the best interests of the company rather that in the best interests of the employees. That benefit could take many forms, some less palatable than others.

With the 'one-pot-for-life' approach the pension provision market becomes more competitive. That has to be good for the customers (the employees) and hopefully, good for the better placed/better run pension providers.

It will result in less fee income stemming from the lower need to move/consolidate pensions. CASSINI in an earlier post today was concerned about having to pay for a Fin. Adv. to move a pension.

[fatherjack3] 25/11/2023 10:36

One of the virtues of being invested in LGEN and Aviva is the knowledge that they are properly capitalised and well regulated. Unfortunately, the exact opposite is the case for a slew of American regional banks who are kept afloat by accessing a Federal Reserve slush fund. Seems like another financial crisis in the making to me.

[mcunliffe1] 25/11/2023 09:38

Morning CASSINI: I moved £198+k from Std. Life to a Int. Inv. SIPP in March 2023 without the need for a advisor. I simply had to sign waivers. Pity S.L. were not required to sign waivers to ensure they provided a timely and efficient service both during my 40 years investing with them and their transfer of monies to i.i.


S.L. had about 350 funds that I could have chosen when I was with them. I selected their S.L. UK Smaller Companies fund. I believe this was linked (in some respect) to the Abrdn U.K. Smaller Companies Fund. It was a good performer in past years but had started to wane by March this year. I gound I was monitoring my holdings at S.L. without the up-to-date knowledge that is needed. So I moved.

Phoenix Group of course own Std. Life fully now. I have a significant holdnig (£30k) in PHNX and I'm quite happy with that. There's a big difference between the company and their own investment funds in my opinion. I suspect this is driven by the pension company's desire to profit at the expense, if necessary, of the pensioners of the funds they operate.

Not good if you have a L&G pension but quite acceptable thankyou if you hold LGEN stock.


This morning I read a very informative article in the Daily Mail by Andrew Alexander. His report may be found here in the Mail Online:



My understanding of his rationale leads me to believe that L&G have made a sound investment in taking on the Boots' pension fund. OK, they take on the risk but that's what they pay their actuaries for - risk assessment. And, as the advisors to the Boots' pension fund fore many years who is better placed to assess that risk?

L&G will of course lose the ongoing fees for such advice.

[zac0_4] 25/11/2023 04:55

I think you only need to obtain financial advice if your scheme is a defined benefit scheme. Similar rules don’t apply to a defined contribution scheme.

My workplace pension is with L&G. It’s currently invested in the PMC multi asset fund 3. I’m considering moving a proportion of it into L&G pmc world (ex uk) equity index fund 3.

Over 5 years the multi asset fund has delivered a total return of 14% whist the equity fund has delivered 54%. For context an investment here in LGEN has delivered 36%, with dividends reinvested. One reason why I continue to move more and more of my (non pension) portfolio into global equity tracker funds. Less risk, less worry, better returns!

[cassini] 25/11/2023 00:45

Thanks to those who replied to my query about L&G pension funds.

The two funds mentioned in one posters' reply (Global Index 100 and Global Technology - or something like that) are not part of the 140 funds I can choose from ;0)

Just eyeballing L&G's pension funds' performances, most are ummm, pants.

This is echoed in an on line article on a website named Yodelar.com, admittedly from 2020, where only 12% of their funds got 4 or 5 stars and 67% got 1 or 2 stars.

I already have a SIPP with ii and will indeed move my pension fund there. My problem at the moment is that my L&G fund is >£30k and so I'll get nailed to pay for a financial advisor if I try and move it, or so I read.

In the meantime I will keep trawling through their funds performance data to find one which isn't awful, as the Santa Rally season is on us (I hope) and a lot of annual returns are made in this period in a normal year...