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Fang

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Fang
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  • Dangerous environment due to dearth of new issues. Will be exploited by issuers and their banking pals as to offer high credit risk, but low coupon and weak covenants, so best not to fall for it. With 10 year US T note at 3% , rates will have to inc…
    in Belong Ltd. Comment by Fang April 26
  • Have been informed by current platform HL ( who are nowhere near as good in every which way as the old Barclays when it comes to corp. bonds) that I cannot transfer a large slug of my big cash holding over to another (hopefully better) platform for …
    in Bond Platform Comment by Fang March 26
  • If you want prompt telephone service re bonds ouyside ORB, DSC, do not use HL. I changed to them and find them slow and unhelpful in this area, so withdrawing most of my large cash position to AJBell. Will continue with HL re shares, funds and ETFs …
    in Bond Platform Comment by Fang March 10
  • Thank you all for helpful comments. Will check out suggested providers. Barclays were so good back in the day with bond executions and prompt, courteous service.. pity the way that has gone. Perhaps more worrying in grand scheme of things is the lac…
    in Bond Platform Comment by Fang March 8
  • Thanks for that advice, will check them out. As to splitting one's SIPP with two providers: how does that affect the monthly drawdown and taxation thereof?
    in Bond Platform Comment by Fang March 8
  • Typo errors, sorry. Should read ".. sell us funds instead".
    in Bond Platform Comment by Fang March 8
  • Not that I know of, Hind. Considering 10 year gilt yield at 1.7% at present compared US T note approaching 3% the mind boggles, considering GB risks that lie ahead. Just goes to prove how manipulative BoE has been ( or still is) but reality will hit…
  • You can short 10 year gilt future through 3GIS.
  • Tales woe as to the time it takes to move out of Smart Investor" all over the papers today (F.T. & Times). Perhaps Barclays may eventually come back to their senses and resurrect what was the best platform out there. I for one would then wish to…
  • Not invest at all and sit on cash would be the best strategy in those circumstances. However, the increasing illiquidity of sterling bonds is a worry and could only be alleviated with much new issuance. Perhaps corporate treasurers will come to real…
  • Have recently moved to HL after "Smart Investor" debacle, They are not anywhere nearly as good with price and execution as the Barclays of old were, but then the sterling market has also become illiquid, as commented elsewhere.
  • Buy 5.25% yields at your peril. Even institutionally targetted sub-investment grade gets away with 3.5% whilst ECB hangs onto to QE, meaning that everything else is artificially valued. With Brexit, Corbyn and a number of huge global risks potentia…
  • Moved my SIPP over to HL, after the disaster at Barclays Smart investor. More expensive, so it seems, but always available on phone. Their website not as user friendly than the Barclays of old, but plenty of research on companies and funds. Do not t…
  • Have now moved to a different platform , took only a bit over a month, but had turned all my holdings into cash beforehand. A few bits to be cleared up, so today when phoning, notice they keep you on hold for a very long time, bit like trying to get…
  • Cannot fathom why an issuer wants to buy back debt at current levels. Surely, with 10 yr gilts at 1.3%, inflation more than double and Brexit perhaps soon ending up with WTO, why would you not rather be a seller, especially in view of BoE eventually…
  • BWB- what a surprise. Barclay´s S.I: ( what an irony) has got everything wrong with the relaunch. That is why I and thousands others are leaving this poorly maintained ship, as repairs are not on the horizon and letters remain unanswered..
  • PD, as to LTA: managed to get " ex post" from HMRC allowance for 1.25MM, whereas now £1MM is the limit. Not much of an issue either way, as I have not used up much, and at 75 it is no longer relevant, in my case not hugely far away. Then there …
  • PD, am in the process of selling my remaining holdings ( only a few ETFS and shares left) so that the whole SIPP is in cash, ready to be transferred in a week or two, cash transfer takes supposedly up to 4 weeks. Would take 2-3 times as long if it …
  • Have received these past two weeks over thirty identical texts from Barclays on my mobile advising me of change to S.I. My letter complaining of the dumbed-down platform remained unanswered though, cannot be bothered to get back to one large SIPP in…
  • The high coupon for what is a short maturity indicates that they cannot get bank funding, despite willing to pay up. So not for me, too much risk as to loss of capital or compulsory refinancing in a couple of years. This is at present a dangerous ma…
  • HL, despite some misgivings as to high cost, seems to be the obvious choice. For one, they answer the phone promptly and seem to know their business, which is more than can be said about some of the other contenders. Have good web stats and charts, …
  • Will now quit Barclays since neither Thaw nor anybody else there bothered to get back to me after receiving written complaint three weeks ago, and a more recent phone request was not responded to either. My sizeable SIPP they have had for a decade w…
  • Not much comfort, as many of us probably hold quite large cash positions at present, due to overpriced bonds and shares.
  • Feel for you John, at least they have not lost my holdings. As to where to go: not easy. I have a large SIPP, so HL , with seemingly good customer service and web tools, are an expensive proposition, and have been badly reviewed recently. Some of th…
  • Thanks for your comment, Mr Depp. Have decided to leave Barclays, cannot stand newly fangled umbrella website, primitive charting, complicated sign-in, involving endless numbers. Still contemplating where to go- notice many poor reviews as to charge…
  • Not sure as to ring fencing. Beyond 85K, especially if you run a large cash position, may not be to easy or quick to disentangle from a failed provider, as Northern Rock fiasco has shown.
  • Thanks, Shaunm. AJ Bell are, of course, doing the admin for Barclays, so familiar to me. However, as my SIPP is quite large, I am concerned as to credit risk. AJ Bell is privately held; Andy Bell owns 28%, other large holders are Invesco and Woodfo…
  • Risk/reward of junk bonds simply terrible. If you want 5% yield, why not buy quality shares that give you similar yielding dividends, such as BATS, or AZN, or UU- price may fluctuate but not by much. With Lendinvest or some other ORB bonds, repaymen…
  • Large minimum, illiquid due to small size and unrated. Would probably be BB if rated. However, yields more than most ORB bonds of similar or worse credit quality.
  • Sub-investment grade risk/reward is indeed absurd. Blame it on Central Bank QE, resulting in desperate grab for yield. Corporate treasurers and their fellow directors are laughing all the way to the bank, whilst for investors it will end up in tears.