Category: Uncategorized (Page 75 of 295)

No guarantees that any of them will finish up on the day.

Why in the long term it’s best to be long of the market.

LUK2 FTSE x 2 Long

SUK2 FTSE x 2 Short

No dividends, so of no interest for the Snowball, both high risk.

Thursday 10 April

Amedeo Air Four Plus Ltd ex-dividend date
Athelney Trust PLC ex-dividend date
BlackRock American Income Trust PLC ex-dividend date
BlackRock Latin American Investment Trust PLC ex-dividend date
CT Private Equity Trust PLC ex-dividend date
F&C Investment Trust PLC ex-dividend date
International Personal Finance PLC ex-dividend date
Invesco Asia Dragon Trust PLC ex-dividend date
JPMorgan Asia Growth & Income PLC ex-dividend date
Manchester & London Investment Trust PLC ex-dividend date
Petershill Partners PLC ex-dividend date
Schroder Asian Total Return Investment Co PLC ex-dividend date
Schroder European Real Estate Investment Trust PLC ex-dividend date

Lindsell Train’s take 

I’ll finish with one last leftfield note. It involves what I think is a companion piece to the UBS report, namely a fab little paper by Lindsell Train portfolio manager James Bullock – whose work contributes to the Lindsell Train (LTI) investment trust – called A Very Long Hill.

Bullock makes what I believe is a crucial point that complements the conclusions reached in the UBS report: that time in the market is essential, as is adhering to long-term compounding returns. Bullock observes: ‘Most savers don’t (or can’t) stay fully invested, resulting in “time out of the market” and behavioural traps for those who “time the market”.’ The “gap” might not sound like much, but it costs the compounder greatly.’ 

As Brad Barber & Terrance Odean noted in an influential Journal of Finance paper on this topic: ‘Individual investors who hold common stocks directly pay a tremendous performance penalty for active trading… Our central message is that trading can be hazardous to your wealth.’

Or, to put it simply, that massive compounding engine for equity returns suggested by the UBS report only really works if left uninterrupted.

David Stevenson

If you bought the yield around the covid low, there was no hurry as the price started to rise and the price rose the yield fell, you could have re-invested the dividends in to the higher yielders of your portfolio.

Once you had achieved the holy grail of investing, that you doubled your investment and withdrawn you capital, you would have a Trust that pays you income at a portfolio cost of zero, zilch, nothing. Add to that income from the re-invested dividends.

Whilst history doesn’t always repeat it often rhymes.

Part of the cash raised today will be re-invested into MRCH.

The emotional benefits of dividend re-investment.
In fact, with this investment strategy you can actually welcome falling share prices.

Maybe you should, that is, if you don’t have a dividend re-investment plan.

I’ve sold the Snowball shares in RECI for a profit £772.25, with the aim to buyback at a higher yield.

I’ve sold the Snowball shares in SERE for a loss of £317.97 and a total profit of £542.68, as there may be more interesting opportunities in the market one day, but one day is not today.

Not Meerkats but Markets.

If you think the dividends are ‘secure’, although no dividend is completely secure and you are content with the dividends for the long time, buy the yield. You will only buy at the bottom of the market by luck, so don’t spend a lot of time trying.

With markets falling out of bed the above shares have been removed from the Watch List on a risk/reward basis.

Most popular trusts

There were only two new additions to the list of bestselling trusts in March – City of London and JP Morgan European Growth & Income.

“One of those new entries, City of London, is no stranger to the top 10,” said Kyle Caldwell, funds and investment education editor at Interactive Investor. “It is managed by veteran fund manager Job Curtis, and this ‘Steady Eddie’ investment trust is a reliable dividend payer, having increased payouts each year since 1966.”

The City of London trust primarily holds FTSE 100 companies.

“In contrast, the other new entry, JP Morgan European Growth & Income, has never appeared in the top 10 since we started compiling the rankings in 2018,” Caldwell said.

The JP Morgan trust invests in Europe and, as Caldwell points out, the region has had a good year so far in 2025. Many European companies look cheap, compared to their US counterparts. Some investors have been switching from one market to the other in light of recent volatility in the US.

Bestselling trusts in March

1. Scottish Mortgage
2. Greencoat UK Wind
3. JP Morgan Global Growth & Income
4. Alliance Witan
5. City of London
6. F&C Investment Trust
7. Allianz Technology
8. JP Morgan European Growth & Income
9. 3i Group
10. The Renewables Infrastructure Group

^{Source: Interactive Investor.}