Pim Shrt Gbp In Discussion Threads

[pvb] 21/5/2024 22:42

Still sawing away. :-)

[pvb] 13/3/2024 11:21

...There is also no stamp duty to pay on purchase.

On purchases now, that yield to maturity will be lower!

[cassini] 01/11/2023 00:40

Well I'll answer my own question! ;0) It turns out the entry and exit charges mentioned do not apply to the secondary market (i.e. retail investors).

There is an annual fee of about 0.35% and as of today it pays a 'distribution' divi yield of 4.29% which I understand means the 12 annual divis ('distributions').

It also has an 'estimated yield to maturity' currently of 5.72%.

[cassini] 31/5/2023 07:50

I've just read the prospectus and it mentions an (up to) 3% entry and exit charge.

Considering the nature of the fund I find this offputting as that would destroy most of the returns over several years, certainly until recently.

Have I misunderstood these charges which are in addition to the annual running fees?

[uzes] 05/5/2023 18:09

thanks - yes - i own that. JGSA and MIST are the accumulation shares which i like and own.

[sicall] 05/5/2023 11:31

If you want an accumulative fund use CSH2.

[uzes] 19/2/2023 09:13

I should add - obviously doesnt work with QUID given its monthly distributions.

[uzes] 19/2/2023 09:10

I dont believe there is a single link that spells this out; however the Vanguard link below from memory is helpful as it gives some basic insight into ERI - which is the fundamental mechanism for funds to retain reporting fund status and shareholders to be taxed on income that is not paid out. The logic is as follows: Accumulation units (of funds or ETFs with reporting status) obviously do not pay dividends or interest. However to retain the reporting fund status both Acc and Inc shares funds must disclose their excess reportable income (ERI) for the financial year end; crudely ERI is = to the income retained by the fund not paid out. This must be published from memory 6 months after financial year end and is taxable as interest or dividends. That is also the date the income is deemed to be received. The ERI is attributable to the shareholder that own the shares at the end of the funds/ETF financial year. So for example I own MIST - this is an Acc share class and financial year end is 31/3. I will sell before 31/3 and buy back after 30 days (to avoid the 30 bed and breakfast rule). The gain is a taxable gain (CGT applies) and you have not received any income (either a dividend or ERI). Other funds/classes this works for are JGSA/CSH and you can also do this with ERNS providing you dont hold when the dividend is paid (6 monthly) or at year end. Obviously with interest rates backing up - you can basically get a cash or cash plus type return and pay CGT. You can obviously switch between these funds to remain fully invested during the 30 day period. The bid/offer spreads are small. The interesting thing is the fund platforms like AJBell dont properly account for ERI...which surprised me...as I have raised it with them. Hope this is useful/helpful.

hxxps://www.vanguardinvestor.co.uk/content/documents/general/ga-uk-reporting-fund-guide.pdf

[hindsight] 18/2/2023 12:31

uzes would you happen to have a link for this ?

Arguably better for taxable accounts, as its Accumulation not Distribution - any gains taxed to capital if sold prior to year end to avoid Excess Reportable Income.

[holts] 27/11/2022 08:41

Never used this type of instrument, is there somewhere I can read up in detail about their function ? Looking at Pimco page it shows current yield and distribution yield , presumably the relative large difference has been the rapid increase in rates leaving a distorted picture on the distribution yield for the previous quarter .
Why is there such a disproportionate move down from Nov 21 ?

[chrysalis99] 29/10/2022 11:06

Odd that they don't RNS the monthly dividend amount/ex date/etc

[uzes] 31/8/2022 07:35

The other PIMCO alternative I hold along with QUID is MIST (its short maturity $ bonds hedged into GBP). Almost a US equivalent to QUID. Arguably better for taxable accounts, as its Accumulation not Distribution - any gains taxed to capital if sold prior to year end to avoid Excess Reportable Income.

[spectoacc] 30/8/2022 08:03

A while since I've held QUID, but looking at it again - any better alternatives? TER offsets the income but the monthly interest was nice.

[jonwig] 06/8/2014 06:39

As originally hoped, the price seems to be rising in anticipation of higher short-term interest rates in the near future.

[jonwig] 27/5/2014 11:09

Now that cash and shares ISAs are to become just "ISAs" (or NISAs) from 1 July we need a way of holding cash in our ISA for quick deployment as necessary.

Obviously some ISA providers will offer interest on cash, but I doubt the rate will be competitive.

This ETF is an alternative for the time being with a yield of c. 0.46% at present, and monthly interest.

TER is 0.35%.

[jonwig] 27/5/2014 11:04

The investment objective of the Fund is to seek to generate maximum current income, consistent with preservation of capital and daily liquidity. The Fund will invest primarily in an actively managed diversified portfolio of UK Sterling-denominated Fixed Income Securities of varying maturities including government bonds and securities issued or guaranteed by governments, their sub-divisions, agencies or instrumentalities, corporate debt securities and unleveraged mortgage or other asset-backed securities. The Fund may seek to obtain market exposure to the securities in which it primarily invests by entering into a series of purchase and sale contracts or by using other investment techniques (such as buy backs). The Fund may invest without limit in Mortgage or other asset-backed securities. The Fund's weighted average maturity is not expected to exceed 3 years.

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