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British Smaller Companies VCT Offer

It’s that time of year when share subscription offers for Venture Capital Trusts (VCTs) tend to be launched. One of the first is that for the British Smaller Companies VCT (BSV). This one that has shown a relatively good performance for a generalist VCT – share price total return of 225 over ten years according to the AIC compared with a sector performance of 136. It also has a high dividend yield and a narrow discount to NAV. However I have ...

Buy Backs Bad – and done at wrong time!

The following article reports on a JP Morgan prediction for this year of over $800 billion in stock buybacks. According to this article in CFO.com, S&P 500 firms repurchased $166.3 billion worth of...

FRC and FCA Investigations: Managing expectations, and Blancco news

Peter Parry and I now have regular meetings with the FRC and FCA to discuss topics of interest. We met Jen Sisson of the FRC on 23 Sep and...

Majestic Wine, Brexit, Proxy Voting and Inheritance Tax Simplification

Majestic Wine (WINE) issued their interim results yesterday (22/11/2018). I no longer hold the shares but I am a customer of theirs. The financial results were disappointing with adjusted...

Missing Dividends

I talked about having too much cash in my ISA and SIPP accounts in my last blog post. But in fact it’s not as much as it should be because dividends on my ISA holdings in JPMorgan Japan Smaller Companies Trust (JPS) did not arrive as expected. They should have been paid on the 7th November, and were on my direct holding on the register but not on my ISA ones. The ISA ones are held in two different ISA accounts ...