adrianc
Member of DD Central
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Post by adrianc on Nov 4, 2022 13:24:59 GMT
No results for "PIBS", either - using the search bar on the main ii site, or the individual research sections for stocks, funds, investment trusts, ETFs...
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Post by Deleted on Nov 4, 2022 13:31:41 GMT
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Post by mostlywrong on Nov 4, 2022 15:50:02 GMT
I have also read about LLPC and LLPD which, apparently, are Lloyd's preference shares.
I do not hold...
My understanding is that preference shares sometimes have interesting repayment clauses that can catch out the unwary.
Can I make a couple of observations that have caught me.
1. Sometimes, brokers get their knickers in a twist over "complex instruments". You will have to complete a form to promise that you have been dealing in these instruments for years...
2. However, some brokers just will not permit you to deal in such instruments. Halifax and AJ Bell spring to mind.
3. Just because an investment has "income" in the name, does not mean that the distributions will be taxed as income.
This is not a problem in a tax efficient account such as an ISA or SIPP. It might be a problem in a trading account where you are balancing interest and dividend payments against your tax return. For example, Twenty Four Income has an investment trust, SMIF, that produces a monthly income from bonds - but it is taxed as a dividend stream. And, as far as I can tell, that decision is completely arbitrary.
MW
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pikestaff
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Post by pikestaff on Nov 4, 2022 16:49:44 GMT
Good question: rummaging around in a time damaged brain....
Did not Aviva get into trouble a few years ago when it tried to redeem (buy back) its irredeemable preference shares?
They did not offer a good price either. I think the "offer" was at par...
The market for preference shares bombed on the chance that, if AV. got away with it, so could other companies.
If my memory is faulty then my username is accurate...
MW
Don't remember, but they didn't buy mine!
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Post by mostlywrong on Nov 4, 2022 20:51:21 GMT
Good question: rummaging around in a time damaged brain....
Did not Aviva get into trouble a few years ago when it tried to redeem (buy back) its irredeemable preference shares?
They did not offer a good price either. I think the "offer" was at par...
The market for preference shares bombed on the chance that, if AV. got away with it, so could other companies.
If my memory is faulty then my username is accurate...
MW
Don't remember, but they didn't buy mine! A quick sweep of Google shows that the deed was done in March 2018 (doesn't time fly?) and that the FCA published its report in Oct 2020:
MW
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adrianc
Member of DD Central
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Post by adrianc on Nov 5, 2022 8:06:31 GMT
That's HL, though, and I'm looking on II - who claim "We offer the widest choice – more than 40,000 UK & global investment options, including bonds and gilts."www.ii.co.uk/bondsQuite why anybody would pay a premium for 2.5% Nationwide, let alone the 160p+ selection... 97p for 6.875% Aviva sounds more tempting - or shouldn't it?
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Post by Deleted on Nov 5, 2022 9:05:24 GMT
tempting? Well not today.
Interest rates will go a bit higher yet in my opinion, possibly not because our economy needs it but because the US economy will need it and what they flush out of the system will hit us (mumbles about Brexit and developing world status etc)
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JamesFrance
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Port Grimaud 1974
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Post by JamesFrance on Nov 6, 2022 12:39:05 GMT
Well worth a read in the Telegraph if you can access it.
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Post by mostlywrong on Nov 6, 2022 15:40:13 GMT
tempting? Well not today.
Interest rates will go a bit higher yet in my opinion, possibly not because our economy needs it but because the US economy will need it and what they flush out of the system will hit us (mumbles about Brexit and developing world status etc)
The quip that "whenever America sneezes, the rest of the world catches a cold" was around long before Brexit and is a truism that will likely see me out.
I agree that rates will go higher in the States as there still seems to be a huge amount of dosh floating around.
Actually, I might argue that there isn't yet enough pain in the American economy to make the politicians change their minds.
MW
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Post by Deleted on Jan 27, 2023 14:57:20 GMT
Just for info
pickep up a few of my defined PIBs today, I still expect a further interest rate increase which will knock the price down a little more, but Ukraine fueled inflation should start to drop out soon
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