As you can see SP only moved 7 points over the last 12 months so some sort of safety there. Don't buy it for any SP increase. I bought it for the dividend to re-invest in more shares and to protect my investment if that's possible.
I can't remember who the clever chap was but I think he said he made his fortune by buying too late and selling too early. Anyway, I hope he is in this one with us.
Like you I invest a monthly sum here in an ISA and am very happy with progress all of which is tax free. (two fingers up in the general direction of Mr Osbourne)
I'm surprised at that as I invest in it through F&C.
What are your thoughts on a correction?
I have been investing in these kind of trusts for about 20 years now and my strategy has been to invest monthly and to invest large chunks when the ftse has been 4500 or below and to take chunks out when the ftse goes above 6000. This is a simplification on the numbers of the ftse but you get the gist.
I am still of a mind to let it ride for now, but the exit is beckoning. My monthly investment will carry on.
How did you make money? I never looked for the top or bottom. Some clever chap said that and it wasn't me.
I agree looks good will have a more indepth look on a personal basis, cant begin to recommend to clients though as it is classed as an Unregulated Collective Investment Scheme as it is not registered or regulated by the FSA, so it carries no FSA protection, No Financial Services Scheme Compensation, or any Financial Ombudsman Protection and Professional Indemnity insurers dont like to insure us against a claim,
So part of what annoys me is that i can find great investment opportunities but cant recommend them.
shame that its true in a lot of cases, re MERE i did look at that a while ago and I believe it a large holding in Premier asset managements unit trust of investment trusts, it also has similar characteristics to Axa Property trust in that its within its covenant and has a lot of exposure to europe.....
To be fair we are looking at our exposure to fcpt and we are slightly concerned that we are at a premium to the asset value.. so money could be made by realigning that premium to companies like mere etc, or dare I say it to a unit trust which trades at NAV....
But the argument for dividend yield and discount is what will drive these trusts forward..
another trust I looked at and still waiting to see full year accounts is the Tama european Industrial fund which has/had a divi yield of circa 10%
While on the subject of Below net asset value property stocks MERE is my top pick. They trade 67% below NAV, have 62% LTV on commercial properties, low vacancy and trading update due any day that could change sentiment as 90% of properties are in france, germany and netherlands that are all doing well thanks for china growth. Did i mention 8% dividend while we wait for the inevitable. its also isable and in 2-3 years we should be looking more like £2-£3 and in my extensive research did not find a more attractive company in the property sector to invest in.
As an IFA, I was overwhelmed with this share when the price had fallen to circa 60p with a NAV of 85p could not believe it low gearing high dividends and strong management, depressed due to investor sentiment and with strong sentiment that the property market will take off into 2011... My clients are loving this stock..
Would like to see the board take a bit of risk and gear the portfolio to hoover up some of the distressed assets out there..
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