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MPN
Posted: 03 September 2020 11:23:17(UTC)
#25

Joined: 12/03/2018(UTC)
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DIY Investing;127882 wrote:
MPN;127881 wrote:
DIY Investing;127600 wrote:
I’ll be interested to see how BlackRock MyMap 3 and 4 behave in comparison to PNL and CGT over the next few years. BlackRock might have filled that gap for a one stop shop, cheap, passive All Weather fund. So far so good I’d say.


I hold Trojan X in my ISA and PNL in my SIPP. Trojan X held up better than PNL in the downturn in March (as you would expect from the IT) but PNL still did well compared to others in the same risk category. CGT dropped quite a bit more but came back quite quickly. VLS20/40 dropped even more during this period.

In my opinion you cannot compare Trojan X/PNL with Blackrock MyMap3/4 or indeed VLS 20/40. The main point of holding Trojan X/PNL is that the fund manager's main priority is to minimise any losses during any downturn or crash and preserve your wealth. Obviously, because of this strategy the total returns will not be the best but most investors are happy with this philosophy.


I would say though that those MyMap funds aim to do a similar thing. They are different to the vanguard stocks and bonds only funds. They have a 5% allocation to gold, hold the same percentage in inflation linked bonds, and maintain an equity allocation. The nominal bonds are split between short dated, mid dated and long dated gilts and treasuries, and there isn’t any corporate credit or junk bonds. They also hold a small amount of cash.

With the lower volatility MyMap funds, it’s almost like BlackRock tried to create an automated Sebastian Lyon.


I understand what you say and what Blackrock are trying to achieve with the MyMap funds. It's just that in my opinion its too early to tell if an automated Sebastian Lyon would re-assure me. Trojan/PNL have a long standing established history in wealth preservation.
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SoBo65 on 03/09/2020(UTC)
FrankKH66
Posted: 03 September 2020 12:43:03(UTC)
#43

Joined: 03/03/2020(UTC)
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bédé;127878 wrote:
Sobo: I think I made a mistake, for some stupid reason I was confusing you with the original poster. And I had missed your earlier contributions. Sorry.


Original poster here:)
That's a good point. I was thinking invest around £5-7k initially then add to it as and when. This would be part of a wider portfolio which would include a similar amount in CGT and a Vanguard tracker as the "defensive" (is that the correct term?) portion.
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bédé on 03/09/2020(UTC)
bédé
Posted: 03 September 2020 13:57:07(UTC)
#44

Joined: 26/09/2018(UTC)
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FrankKH66;127938 wrote:
Original poster here:)
That's a good point. I was thinking invest around £5-7k initially then add to it as and when. This would be part of a wider portfolio which would include a similar amount in CGT and a Vanguard tracker as the "defensive" (is that the correct term?) portion.


Sorry for my confusion. So with that amount to invest the value of each share fades into non-importance.

Regarding Vanguard tracker, I am a bit adventurous, so fine by me, but many regulatr posters would not regard 100% equity in any form as defensive. I think VWRL (VWRP = acc.) would be a good one to include. You would get one-stop equity diversification, and freedom from manager risk.

You might look at VEVE - lower charge, and takes emerging out of the equation. You might think of covering this separately.
Or, VUSA - a good world proxy: USA is 60% of world, influences and is influenced by world. Cheapest in terms of charges and buy-sell spread.
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2 users thanked bédé for this post.
FrankKH66 on 03/09/2020(UTC), Fig Lee on 29/10/2020(UTC)
Michael Harty
Posted: 03 September 2020 14:09:36(UTC)
#47

Joined: 26/03/2018(UTC)
Posts: 1
I would buy Personal Assets over CGT everyday. CGT is a 'posh' Investment Trust discount player as everyone in the market knows...
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SoBo65
Posted: 03 September 2020 15:43:36(UTC)
#45

Joined: 04/04/2020(UTC)
Posts: 107
bédé;127951 wrote:
FrankKH66;127938 wrote:
Original poster here:)
That's a good point. I was thinking invest around £5-7k initially then add to it as and when. This would be part of a wider portfolio which would include a similar amount in CGT and a Vanguard tracker as the "defensive" (is that the correct term?) portion.


Sorry for my confusion. So with that amount to invest the value of each share fades into non-importance.

Regarding Vanguard tracker, I am a bit adventurous, so fine by me, but many regulatr posters would not regard 100% equity in any form as defensive. I think VWRL (VWRP = acc.) would be a good one to include. You would get one-stop equity diversification, and freedom from manager risk.

You might look at VEVE - lower charge, and takes emerging out of the equation. You might think of covering this separately.
Or, VUSA - a good world proxy: USA is 60% of world, influences and is influenced by world. Cheapest in terms of charges and buy-sell spread.


I quite like the idea of a core holding in some of the IT's mentioned here plus a holding in one of the ETF's mentioned above to regulate the equity holding and adjusted on occasion. I previously got burnt on FTSE 100 /250 ETF's in a falling market, but a global ETF makes far more sense to me.
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Law Man
Posted: 06 September 2020 09:06:52(UTC)
#48

Joined: 29/04/2014(UTC)
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The reason for holding ‘wealth preservation funds’ such as CGT & PNL:

If you are approaching the end of your investment period, and have a total fund sufficient for your needs, or approaching that;

Then it is more important to avoid a loss of 20% than speculate for an additional gain of 20%.

As such CGT & PNL are useful as part of your allocation. Gradually reduce mainstream equities and increaseWealth Preservation.
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11 users thanked Law Man for this post.
FrankKH66 on 06/09/2020(UTC), Guest on 06/09/2020(UTC), William R B on 06/09/2020(UTC), Aged techie on 06/09/2020(UTC), Laurence O'Brien on 06/09/2020(UTC), Fell Walker on 06/09/2020(UTC), dlp6666 on 07/09/2020(UTC), Sheerman on 29/10/2020(UTC), Guest on 30/10/2020(UTC), Jesse M on 18/02/2021(UTC), Greylocks on 01/03/2021(UTC)
Aminatidi
Posted: 29 October 2020 19:16:15(UTC)
#49

Joined: 29/01/2018(UTC)
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Latest Personal Assets Trust quarterly.

October Quarterly
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4 users thanked Aminatidi for this post.
Tim D on 29/10/2020(UTC), Mel Shapiro on 29/10/2020(UTC), William R B on 29/10/2020(UTC), mdss68 on 30/10/2020(UTC)
Rory Barr
Posted: 29 October 2020 19:49:18(UTC)
#50

Joined: 18/11/2018(UTC)
Posts: 737
Great comment in it about running your winners.
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Aminatidi
Posted: 30 October 2020 17:06:01(UTC)
#51

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Rory Barr;135218 wrote:
Great comment in it about running your winners.


Yes given the week we've just seen this bit was actually quite "calming".

These are often intangible qualities that only
emerge over time. From the perspective of
portfolio management, the lesson is clearly
numerical; run your winners. Resist taking
profits except to reduce portfolio risk and don’t
tinker with holdings. Have the willingness and
strength of stomach to encounter short-term
volatility and, in Microsoft’s case, prolonged
periods of dull performance.
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King Lodos
Posted: 30 October 2020 20:02:00(UTC)
#52

Joined: 05/01/2016(UTC)
Posts: 11,046
CGT, Ruffer Total Return and Trojan vs the World Index .. Used Troy Trojan because PNL's only been advised by Troy since 2009 – so I don't know who was running PNL before that .. But CGT's up over PNL too

https://i.imgur.com/01vfjcH.png

These get called 'cash equivalents' a lot, but you see here, over the longest period I can get all three funds in, they're all beating 100% stocks. (no doubt helped by the bond bull market)
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