I cant see ISAT in the top 20 holdings, so like you say it will only have a small effect on MYI. Glad I sold ISAT a while back, but at quite a loss even then. Couldnt work out why the dividend was so high for such a capital intensive company with high R&D spend. It would be brave to buy now ...
It looks like about 3% (35p) of the reduction is due to a erosion of the premium and development of a small discount to NAV. Otherwise just markets coming off the boil (and perhaps some currency effects)? Topped-up today, with a near 4% yield.
"The funds that specifically seek to invest in companies paying those dividends are called UK equity income funds. They are popular choices for investors who want to draw income, but are also often used by growth investors who can reinvest the ..."
I haven't felt so uncertain about the market for a long time. My final scores for 2016 weren't as good as yours; plus 12% with all dividends spent, plus 19% and 22% in our SIPPs, with no dividends spent or money drawn.
In a matter of 24 hours, I have raised our SIPP cash levels to 39% and 55%. It's really drastic, but my main concern is the S&P, which I believe to be hugely overvalued. If the S&P tanks, the whole world will come down.
I've sold stuff that I like, but then I only buy stuff that I like.
I'm not feeling positive, although I recognise that the market could yet kick on another 10%.
I will, however, watch for director dealing and for opportunities. I just turned a quick 10% on Capita.
All the best and good luck in 2017. Did you notice that my 2016 risky tip (Avesco) nearly tripled ! I haven't yet got any positive shares for 2017.....
Have a good life.......the market could be more fun this year, what with more volatility on the way, I hope. I'll take a look at your ideas, thanks.....
Likewise with HSBA & LLOY, I've had a good run with both.
Although ALAI & BRLA are well up, they've driven my perfromance this year. I'm planning to make the smallest of top-ups on any bad day. The Pro's seem to like EM Latin - that should be a warning sign! Hahaha
I'm considering CMS. If I do it will be waliking around type money. I've traded it a couple of time, but...
SREI and EAT are also places I'm considering putting income flow. For no better reason that I dont want to add anything new..and they are the most attractive across my portfilio.
I like AGR, not the price, but the exposure. I already hold the stock.
IVO is something I'm watching, but I suspect a better opportunity will come along.
I have a feeling this might run for a little longer, but who knows.
Oh, and HICL if the prem. heads towards 10% It's 16% today I believe. I'm not rushing. I hate buying with a premium!!!
I haven't added an new money for some time now, maybe a 18 moths, I've ended up 26% (income re-invested) for 2016, and I cant see me injecting new cash, just re-investing divs. The good news is...that means I can keep working partime as I'm not desperate for money I usually just work to fund my investment addiction.
I sold most of my holding in MYI today. I don't want any US exposure, the S&P is way overvalued in my opinion. It's been a great run with MYI, but in my opinion they are now too highly valued and I'm adding tto cash positions in the expectation of a correction........
This performance isnt specific to MYI, its all about the earnings of the companies it is invested in, being in dollars. As the pound has dropped against the dollar the currency exchange has had a positive effect. This fund has been pants in recent years. Not nice pants like a frilly thong, more an old pair of yellow y fronts x
I'm looking to invest here, but in the hope that the board WILL stick to a sensible long-term strategy that has returned just shy of 140% over the last ten years, against a Global Equity Income sector average of c87% (ten figures from TrustNet). Sure, this style has underperformed for the last three years, but I wouldn't want to invest with a manager who ditches a good long-term strategy due to investors complaining about a relatively short period of underperformance. It's exactly these factors that are leading me to invest now. Three years is not long enough to judge a fund manager. Five isn't really. Ten is better!
Quick research into holdings and the state of Latin American equities over the past three years explain the fundamental reason behind the under performance. If Latin America recovers MYI will too. Still nice yield as long as they hold/increase dividends.
Not sure, but what I do know is that MYI has stuck firmly to a losing strategy for the past 2-3 years. The Board are useless and have done nothing to address Mr Stout's obvious failure. They deserve to be fired for dereliction of duty.
Your comment in June was more of an observation relating to the general decline in MYI - rather than addressing my question - which was, what happened on Friday, that caused a high single day drop in the shareprice. Murray was the biggest faller in my portfolio.
It is about time the Directors of MYI looked after their shareholders interests, rather than Aberdeens. Paying £7m per annum for this continuing shambles is a dereliction of duty. Conflicts of interest abound.
Share price appreciation has indeed been miserable, plus 5% over 5 years. Dividends are substantial, which is part of the problem. But the biggest causes of problems are a) large exposure to emerging markets and b) sterling appreciation.
I'm hoping that sterling doesn't get much stronger. I think that emerging market debt is now quite good value. Emerging market equities may have further to fall.
Keep buying! Performance has been lamentable these past 2-3 years, and all the Board do is to rehearse Stout's excuses. What do we pay the Board to do? You may have noticed that Aberdeen Asset Management, the managers, have seen a big outflow of money in the same time frame.
I've made a modest first purchase of these today, at £9.12.
To my mind this is a bet on emerging market high yielders. The manager has chased them because he is paying out 5% in divis (and earning slightly less).
If you want to see how emerging market high yielders are doing, plot MYI against JEMI and SEDY. You'll get the picture. Capital performance of emerging market stocks has been poor, because of money repatriating to the UK and the USA, which also leads to currency depreciation.
The manager has done poorly because of the macro call. He's made that call because of the lack of high yielders in the UK and the USA.
I would argue that the best comparative share is HFEL. And guess what; he's matched it. He's neither a hero, nor a villain.
So if you are prepared to take emerging market risk, buy. If you're not, sell.
I have written to the Chairman saying that, in my opinion, it is time to find another investment manager. I say this reluctantly because Mr Stout has done well in the past. But his recent underperformance has now been going on too long.
American emerging equities are supposed to represent 25% of MINT investments. I suspect that that figure is considerably higher as a % of income. With the fall in value of these currencies I am surprised that one of the Trust sector brokers has not carried out research into the effect of this fall on MINT's dividend.
I'd say that Stout has definitely "lost the plot". For far too many years he's been complaining about global debt while more astute managers have been making quick gains. Certainly be cautious, but that shouldn't have stopped him doing some trading. What has he been doing? He's paid to make money for us, not sit on his hands and await a possible global meltdown and then say, "see, I warned you" - umpteen years ago.
"Pride..fall..emperor...clothes. Usual thing when managers believe their own publicity" - about right, atg.
OK - but I am interested in longer periods of time. MYI still has good performance over 10-12 years, but has fallen off markedly in the past 2-3 years. I would not touch Alliance with a bargepole - my best IT is Mercantile who have done particularly well recently.
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