Co-Op

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  • Woah!!! I just got an online quote to buy 42TF - 4.7p. That knocks the IRR down to ridiculously low levels. But they would only offer a price for 1,500 so the yield gets hammered by the dealing costs. That's the problem with this one - you need to keep an eye on the market and try to buy when someone else has offloaded a load.
  • I had considered SD and dealing costs for 42TF, and accrued and dealing costs for 42TE - thanks for checking though

    Yes - over the years I've had to keep fishing for a good price but I can't recall such a big difference as recently.

    I'll continue to re-bait the hook every now and again

    Thanks to all

    Woz


  • "The Co-operative group is to repay £15.5m in furlough payments to the government, but will hold on to more than £66m in business rates relief despite announcing a surge in profits during the pandemic."

    "The mutual, which owns hundreds of grocery stores as well as funeral parlours, legal and insurance services, said pretax profits jumped from £24m to £127m in the year to 2 January."

    Personally I'm happy - I need them to have plenty in the bank to be able to pay me all that money in December on the 42TEs and 42TFs ;-)
  • Have just bought a few more 42TF at 4.5p which with Stamp Duty (and no trading fee) gives a YTM of 4.6% - I think !!

    If I'm correct that's not bad for a reasonable quality investment for next 4 and a bit years

  • I'd like one of those accounts where you pay no dealing fee.
    That's what kills the yield when only able to buy "a few".
    I looked earlier in the week but could only get quotes for 15,000 (shares, not pounds). Even with only £9.90 dealing charge that brings the IRR down to below 3.9%.
  • Er.. well that was using up my ii "allowance" for this monthso no dealing charge , and, unusually, was able to purchase on line

    I tried to buy more an hour and a half later but was informed would have to buy by telephone, so I didn't go any further

  • I bought 100,000 - I usually try and buy £5k worth of fixed interest type stuff for the very reasons you have pointed out - this time I couldonly bring myself to get just over 4k worth as my investments with the Co-op are relatively large
  • Slightly off-topic, but I've had some retail customer dealings with Co-Op bank over the last few weeks, I'm blown away how good they were, that's not something I say often, some of the old mutual values live on.
  • Also off topic, but what we need are some new issues to stop us all having to scratch around looking at the same bonds and on some of the smaller issues competing for stock at decent prices.

    I think we have had 2 new issues this year. Greensleeves and Mencap and Mencap wasn't new, more rolled but as a new issue. I'm not sure how many we've lost but PAG1, PF21 and 1SBA. The sizes of the departing issues vastly outweigh the new issues.

    I have only bought Belong this year and sold out of more than I've bought.

    Had it not been for Invesco giving away RAVP and the John Baron sell tip on NCYF and HDIV I woud be really struggling. Someone dumped some stock on AXI too which helped.

    I would really like to start rotating out of my bond funds back to retail bonds but I find nothing to excite me.
  • So quiet here hat I'm resorting to posting a link to story re today's profit warning announcement from the Co-Op.

    https://www.theguardian.com/business/2021/sep/16/co-op-price-rises-shortages-profits

    Still very comfortable with my much oversized holding of 42TF and 42TE.
  • Have been occasionally been checking again on availability of 42TF and have just picked up (20 mins or so ago) 100,000 of them on line with ii

    (Sounds impressive but thats about £4.5K)

  • During my current investigation into brokers that offer online dealing with PIBS,PSBS,Bonds etc, I noticed today that Hargreaves Lansdown appear not to recognise 42TF at all, let alone whether you can buy and sale or whether you can deal online or via telehone


    Does anyone have any further info on this please ?

    Obviously I will ask them directly tomorrow

    Even ii appear to offer an "occasional" on line service for these (I recently made two online purchases with them)

    Woz
  • Thanks - yes , if you search from the home page or even Google it and oen the HL link it shows up

    If you try from the dealing page once logged in, it doesn't recognise it

    Of all the faults with ii, I have managed to buy two more tranches of these over the past 3 months - all previous purchases were made on line with EQi. However, in both cases, it was a question of looking frequently until there were some on offer.

    I'm hoping to get onto Mastermind in the coming months with my specialist subject being On line trading in Fixed Interest investments
  • Last week, placed a limit order to buy 100,000 @ 4.5. Was offered @ 4.6. I declined.
  • We're all chasing a very very limited supply.

    A few weeks ago the talk was of inflation rising to 4%, then last week it was maybe 5%. Today I hear one economist speculating 6% to 7% before things settle down. I guess if we do get to those sort of levels then maybe 42TF will become more widely available and at a better price.
  • Slightly off topic but sort of relevant - does anyone know if government pensions, which are now CPI linked (previously RPI) - have a cap ??

    I am receiving a small final salary pension which is linked to RPI, but it is capped at 5% being private sector

    If the government pensions are don't have a cap then its going to cost quite a lot if inflation continues to rise

    What do I mean by "Government Pensions" - well I think I mean Civil Servants, Police, Armed Forces, Teachers, ex BBC,ex GPO etc ...

    The majority of my secondary school friends fall into those categories
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