Co-Op

Laughton

Hopefully of interest to many on here who hold Co-Op Group installment and repayment notes.

https://www.retailgazette.co.uk/blog/2019/04/co-op-records-profits-sales-uptick-since-nisa-acquisition/

Laughton

https://uk.reuters.com/article/us-health-coronavirus-cooperative-group/britains-co-op-warns-of-340-million-hit-from-coronavirus-crisis-idUKKCN2261XD

Couponcopia

Well, plenty of time between now and december when I would expect these to pay out: CO-OPERATIVE GROUP 11% SUB NTS 18/12/2025 GBP

Apologies for tastelessness, but Co-Op also have a line in providing funerals, so the current circumstances may have to that extent a silver lining.

Supermarkets and funerals are almost by definition beneficiaries of the crisis: Supermarkets by virtue of displacement from the almost completely independent hotel/restaurant distribution chain, and funeral homes because, er...

arjungaur

The benefits to Supermarkets is limited as hotel/restaurant disappearing are consumer discretionary/service economy and not competing with everyday grocery retailers providing consumer staples, tesco share price is the hint here

As for funerals, 60 million people die every year globally, half a million from the virus is not a meaningful addition, in UK the numbers are not significantly more, 500k vs 50k, if anything disposal of body needs to be done safely, and it's hard to have anything like a social setting of a regular funeral because of social distancing, tough economy also puts downward pressure on discretionary budgets, dignity share price is the hint here

colin

Re funerals , if you look at Dignity (dty) they have seen a massive drop in their share price citing lower cost funerals and cov 19 restrictions as mentioned above by arjungaur. Like everything they are struggling at present, but hopefully will come good. Ihave traded a few recently finding equities are better value than fixed income at present

arjungaur

If anything, fixed income is relatively the most fully valued asset, it's unfortunately very easy for equity shorts to try selling the story of equity full valuation

as for DTY, they have been having troubles for last several years, so probably virus is not the entire story, so it's important to distinguish between the narrative and the root cause, though as Shiller argues that studying popular stories that influence individual and collective economic behavior—what he calls "narrative economics"—may vastly improve our ability to predict, prepare for, and lessen the damage of financial crises and other major economic events -

https://books.google.co.uk/books/about/Narrative_Economics.html?id=YlDVDwAAQBAJ&source=kp_book_description&redir_esc=y

dandigirl

Hello Laughton - Are you there?

Happy New Year.

Assuming you are still a holder, have you received the capital repayment for your CO-OPERATIVE GROUP 0% GTD SUB 20/12/25 GBP0.12 yet please?

A J Bell inform of non-receipt of funds and are chasing up.

Just wondering. Thanks.

P.S. Although a couple of weeks late, I am not too concerned as the Coop Group is doing just great. Probably just admin.

Wozzitworthit

Hi

We received ours from Selftrade on 21 December 2020, if that helps

Cheers

Woz

hind

42TE and 42TF both paid on 21st Dec 2020 in Idealing

Laughton

Yes, still here dandigirl. I received mine too from iDealing on December 21st.

Sometimes (quite often) I do worry that I have too much (not just Co-op) with iDealing. But one thing you can generally say about them is that they do credit payments pretty quickly.

hind

Laughton, rightly or wrongly I take heart that Interactive Investor paid £36m for Share Centre, ie a customer base has a value

dandigirl

Thank you, Wozz, hind and Laughton. Appears that A J Bell are slow off the mark, again. Wonder why? Hmm.

Maybe we should take a look iDealing? Is it possible to trade retail bonds online with iDealing please? A J Bell do not.

Laughton

I trade all my retail bonds online with iDealing. If there's a retail bond that's not currently listed on there then just as and I've found they are more than happy to add. If I've ever had a problem buying something online then I've done it over the phone and they've never charged any extra.

I'm happy to do a test if you like - give me epics for a couple of retail bonds that you might be interested in and I'll see if I could buy them online at iDealing (I've got nothing better to do).

I really like them - if brokers had unlimited coverage with the FCA, I'd be quite happy to have all my holdings with them.

dandigirl

Hello Laughton - Please will you try such as
66WS/ProvFin/23,
RGL1/Regional/24 and
LIV2/LendInvest/23.
Thanks for doing this.

Laughton

Yes - all three listed on iDealing and managed to get online quotes for all of them.
Spreads seemed quite wide so, if it was me wanting to actually buy then I'd probably email or phone them to see if they could deal within the spread. They've always been happy to try in the past and haven't charged extra for doing so.

One other thing to bear in mind - they do charge for taking cash out of your account. It hasn't bothered me because I've never wanted to do that. If/once I start wanting to make regular withdrawals (say taking out dividends to live on) then I'd probably speak to them to see if they were prepared to waive the fee or move the account elsewhere where there are no such charges (eg HL).

hind

Laughton, dont think £2 unfair for withdrawal. But the 1k online limit needs changing. Normally send form in where can do what want. HL want 1% to £50 for telephone dealing

Laughton

Hind, "But the 1k online limit needs changing." do you mean they only let you take out cash when at least £1k? I'd never noticed that, but as I say, I've never taken out cash.

Laughton

Hind - you're probably right - £2 perhaps not unreasonable but (a) other platforms don't charge anything and (b) I didn't want dandigirl to sign up and then shout at me when/if it came as a shock.

As you say - others charge silly money for telephone dealing. It's one of the reasons I really like iDealing.

hind

Laughton when I do online withdrawal, have 1k withdrawal limit. If you dont have that please say and will ask why I do. Yes your right to point out the charges of £2 and think theres a £5 quarterly fee. One thing HL does have over them is HL gives 0.5% rebate on new offers, Idealing havent in the past.

Laughton

No, I'm not saying that. I've never wanted to withdraw money so the subject's never come up. Re-reading your earlier post, are you saying that £1k is a maximum or minimum limit? Either way, it doesn't sound fair. It's your money, after all.

hind

To make a withdrawal online via the site I have a 1k maximum daily limit showing. Under administer account tab and then withdrawal funds. No limit via sending the withdrawal form in

Laughton

Ah. I only have ISA and pension accounts with them and I think for those you can't make an online withdrawal. I would have to send in a form. I guess that's why I hadn't noticed the limit.

Maybe they're worried about security re the online withdrawal limit??

hind

Yes suspect you are right Laughton re security. When I send a form in they tend to do a security phone call to check it was me

dandigirl

Thank you Laughton. I wouldn't shout at you
We are all big girls and boys on here, I think, and it seems to me we are mostly of a certain vintage. We are each responsible for what we do.
Just to add that A J Bell have finally posted those COOP repayments - they are turning out nicely, thank you.
And to mention that they don't charge any extra for bond dealing by phone - £9.95 - but it did take over 20 minutes to buy some 66WS [at par] earlier in the week.
Thank you, again.