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MBSR/MBSP: Where do you hold them?

Gilts, bonds, and interest-bearing shares
Padders72
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MBSR/MBSP: Where do you hold them?

#303306

Postby Padders72 » April 26th, 2020, 8:27 am

I have used ii for pretty much everything for the past few years since they list most of what I have wanted but I note they don’t list the Manchester PIBS. I fancy a small dabble, who would be a good choice of broker? I note HL and AJ Bell for instance list them. Supplementary question, other than yield, is there any reason to prefer one over the other (the PIBS I mean)?

Apologies in advance if this is off topic for this section, wasn’t sure where was most appropriate.

88V8
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Re: MBSR/MBSP: Where do you hold them?

#303315

Postby 88V8 » April 26th, 2020, 9:37 am

I have them through ii and topped up a while ago. Not listed under Bonds?

Held in my ISA and not, according to space.

Yield.. they haven't actually been paying for... a long time. We live in hope.

V8

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Re: MBSR/MBSP: Where do you hold them?

#303323

Postby Padders72 » April 26th, 2020, 10:18 am

88V8 wrote:I have them through ii and topped up a while ago. Not listed under Bonds?

Held in my ISA and not, according to space.

Yield.. they haven't actually been paying for... a long time. We live in hope.

V8


Interesting, I must be looking in the wrong place, the ticker doesn't get any hits in the universal search box. Thanks for the info, very helpful.

I know about the payment suspension but thanks for the warning all the same. I have been dabbling in distressed and formerly distressed FI since the days of BOI, LLPC,D,E,F, etc being available for peanuts. B&B were a very big win so I was minded to see if this could be another like that, though would only use money I could afford to lose which is the best course with these kind of things IMO.

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Re: MBSR/MBSP: Where do you hold them?

#303390

Postby GoSeigen » April 26th, 2020, 3:02 pm

Padders72 wrote:I have used ii for pretty much everything for the past few years since they list most of what I have wanted but I note they don’t list the Manchester PIBS. I fancy a small dabble, who would be a good choice of broker? I note HL and AJ Bell for instance list them. Supplementary question, other than yield, is there any reason to prefer one over the other (the PIBS I mean)?

Apologies in advance if this is off topic for this section, wasn’t sure where was most appropriate.


I also hold with ii so should be no problem there. Spread is wide so look to be paying in the low 20s (as of Friday anyway).

MBSR terms have more favourable language for investors: in the accounts they are treated as liabilities vs MBSP which are lumped with equity, check out the annual report. They rank pari passu in a winding up IIRC.

GS

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Re: MBSR/MBSP: Where do you hold them?

#303399

Postby Padders72 » April 26th, 2020, 3:31 pm

Curiouser and curiouser. It seems my account doesn't include access to bonds at present. I have the basic trading account with ISA and SIPP but there is no mention of bonds anywhere. I wonder if it is restricted to the frequent trader account, or it's more a case of restricting access to more knowledgable/professional investors, I imagine the powers that be want to discourage amateurs from dabbling in bonds and debt. I'll give them a call Monday and enquire why I can't see them. I have quite a sizeable sum with them and have done so for quite some time so I do hope they don't give me any flannel.

Thanks for the tip about the MBSR termsvs MBSP, that is persuasive.

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Re: MBSR/MBSP: Where do you hold them?

#303544

Postby Padders72 » April 27th, 2020, 10:42 am

Now sorted, thanks folks.

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Re: MBSR/MBSP: Where do you hold them?

#323007

Postby 88V8 » July 1st, 2020, 3:09 pm

I see that the prices of MBSR and MBSP have diverged significantly.
BBYB have redeemed, and seeking a home for the cash this morning, I try to check the MBSP price and find no results from ii, although there is an option to sell.

I see there is also no price for 1SBB or even BOI.

Anyone know what's going on?

V8

Edit... it seems their platform is falling over. Even various ords now showing no price. Unless anyone knows otherwise.....

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Re: MBSR/MBSP: Where do you hold them?

#323026

Postby GoSeigen » July 1st, 2020, 4:37 pm

88V8 wrote:I see that the prices of MBSR and MBSP have diverged significantly.
BBYB have redeemed, and seeking a home for the cash this morning, I try to check the MBSP price and find no results from ii, although there is an option to sell.

I see there is also no price for 1SBB or even BOI.

Anyone know what's going on?

V8

Edit... it seems their platform is falling over. Even various ords now showing no price. Unless anyone knows otherwise.....


Yes, might be ii, otherwise try reducing the size. I thought MBSR & MBSP were priced reasonably close to each other, 27p and 23.5p to buy, or thereabouts? Usually I check in shapes of 10,000 or so.

GS

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Re: MBSR/MBSP: Where do you hold them?

#323068

Postby 88V8 » July 1st, 2020, 7:53 pm

GoSeigen wrote:Yes, might be ii, otherwise try reducing the size. I thought MBSR & MBSP were priced reasonably close to each other, 27p and 23.5p to buy, or thereabouts? Usually I check in shapes of 10,000 or so.

Thankyou.

I'm not sure what goes on. The prices of the ords returned so that was just a system aberration, but prices for NATW also vanished. I spoke with a trader and was able to get a price for all the bonds, they seem willing to trade them over the phone at online commission.
I thought the trader sounded rather evasive when I asked if anything had changed. I hope this is not someone in Compliance wetting their pants over the ban on marketing minibonds. Going back to trading by phone would be a pain.

Price given btw was 19.75/26.35 for MBSP and 21/28 for MBSR.

V8

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Re: MBSR/MBSP: Where do you hold them?

#323156

Postby GoSeigen » July 2nd, 2020, 6:18 am

88V8 wrote:Price given btw was 19.75/26.35 for MBSP and 21/28 for MBSR.

Hmm, if those are the prices quoted then the offers must have firmed yesterday. Good news for holders not so much buyers, but at those prices MBSR look much better value than the Ps.

I'm rather surprised though, they look suspiciously like the notional spread rather than actual prices so will check myself when market opens.

GS

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Re: MBSR/MBSP: Where do you hold them?

#323176

Postby Padders72 » July 2nd, 2020, 8:48 am

I had the same problem yesterday. My balance was showing as about £10K up because they were using a 52wk high price for BOI rather than a live price. It was recified by the close. I could tell straight away it was a glitch, I never win the big in a day.

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Re: MBSR/MBSP: Where do you hold them?

#323181

Postby GoSeigen » July 2nd, 2020, 8:51 am

GoSeigen wrote:
88V8 wrote:I see that the prices of MBSR and MBSP have diverged significantly.
BBYB have redeemed, and seeking a home for the cash this morning, I try to check the MBSP price and find no results from ii, although there is an option to sell.

I see there is also no price for 1SBB or even BOI.

Anyone know what's going on?

V8

Edit... it seems their platform is falling over. Even various ords now showing no price. Unless anyone knows otherwise.....


Yes, might be ii, otherwise try reducing the size. I thought MBSR & MBSP were priced reasonably close to each other, 27p and 23.5p to buy, or thereabouts? Usually I check in shapes of 10,000 or so.

GS


This morning I am quoted 23.95 to buy MBSP and 27p to buy MBSR. No idea where 88V8 gets his quotes (26.35p/28p) from but better prices are readily available.

Those prices have converged IMO, not diverged, so that MBSR looks the better deal.


Meanwhile ii state quite clearly (at least in my account) that:

"We have been unable to obtain a live quote at this time."

So anyone buying through ii will need to phone and ideally ask them to restore their online feed for MBSP/R.


GS

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Re: MBSR/MBSP: Where do you hold them?

#323187

Postby Padders72 » July 2nd, 2020, 9:18 am

Well the plot thickens.

I just placed an online purchase for the min amount and was charged accrued interest! The is peculiar since it obviously isn't paying interest and there was zero to pay on my last purchase as I would expect

I called to query this and they aren't really sure what they are doing and have supposedly raised it to the trades team who will come back to me.

Either Manchester BS have started paying these sneakily on the quiet without announcing anything :-), or rather more likely when they fixed whatever the cockup was yesterday they have set MBSR to charge for accrued when purchased in error.

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Re: MBSR/MBSP: Where do you hold them?

#323194

Postby GoSeigen » July 2nd, 2020, 9:34 am

Padders72 wrote:Well the plot thickens.

I just placed an online purchase for the min amount and was charged accrued interest! The is peculiar since it obviously isn't paying interest and there was zero to pay on my last purchase as I would expect

I called to query this and they aren't really sure what they are doing and have supposedly raised it to the trades team who will come back to me.

Either Manchester BS have started paying these sneakily on the quiet without announcing anything :-), or rather more likely when they fixed whatever the cockup was yesterday they have set MBSR to charge for accrued when purchased in error.


If the price quoted did not mentioned accrued make sure they give back the interest charged. Even if accrued was mentioned, that is a mistake in their systems as this bond has been in default for years. The price they charged you will simply be wrong. Who is this BTW, also II?

You must get that money back. Good luck.

GS

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Re: MBSR/MBSP: Where do you hold them?

#323283

Postby 88V8 » July 2nd, 2020, 3:24 pm

For the Manchester 8% there is no live price this morning from ii, but the indicative is 16.25p.
I wish.

I can send the order and leave them to deal. Sometimes that produces a good result, not always.
Think I'll leave this a couple of days, not in that much of a hurry. Hopefully it will be fixed over the weekend.

And still no online price for 1SBB or NATW, nor BOI for which the indicative is 213p.
Conspiracy or cockup, we shall see.

V8

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Re: MBSR/MBSP: Where do you hold them?

#323475

Postby Padders72 » July 3rd, 2020, 10:48 am

GoSeigen wrote:
Padders72 wrote:Well the plot thickens.

I just placed an online purchase for the min amount and was charged accrued interest! The is peculiar since it obviously isn't paying interest and there was zero to pay on my last purchase as I would expect

I called to query this and they aren't really sure what they are doing and have supposedly raised it to the trades team who will come back to me.

Either Manchester BS have started paying these sneakily on the quiet without announcing anything :-), or rather more likely when they fixed whatever the cockup was yesterday they have set MBSR to charge for accrued when purchased in error.


If the price quoted did not mentioned accrued make sure they give back the interest charged. Even if accrued was mentioned, that is a mistake in their systems as this bond has been in default for years. The price they charged you will simply be wrong. Who is this BTW, also II?

You must get that money back. Good luck.

GS


Acrued refunded today without any notification or comment. At least they didn't undo the trade.

Yes it was ii, they are doing some major back office work over the weekend and things are already getting glitchy with prices missing again for Bonds and fixed interest. Just tried a dummy sell for BOI and it can't even find it so it looks like some things are phone dealing only at present.

The site will be down Sat & Sun. Lets hope it works Monday!

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Re: MBSR/MBSP: Where do you hold them?

#325799

Postby GoSeigen » July 13th, 2020, 12:24 pm

Padders72 wrote:I have used ii for pretty much everything for the past few years since they list most of what I have wanted but I note they don’t list the Manchester PIBS. I fancy a small dabble, who would be a good choice of broker? I note HL and AJ Bell for instance list them. Supplementary question, other than yield, is there any reason to prefer one over the other (the PIBS I mean)?

Apologies in advance if this is off topic for this section, wasn’t sure where was most appropriate.


Have Fools managed to buy their MBSP/R? I picked up a few MBSR last week @27p.

GS

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Re: MBSR/MBSP: Where do you hold them?

#327429

Postby 88V8 » July 20th, 2020, 9:49 am

The missing have returned to ii, but no live trading prices, only indications. Not even for BOI which I had always thought quite liquid. Perhaps WS is sitting on his stache again.
So one either sends the Buy and hopes for the best, or one telephones.
It's a bit of a pain.

V8

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Re: MBSR/MBSP: Where do you hold them?

#327450

Postby Padders72 » July 20th, 2020, 10:50 am

88V8 wrote:The missing have returned to ii, but no live trading prices, only indications. Not even for BOI which I had always thought quite liquid. Perhaps WS is sitting on his stache again.
So one either sends the Buy and hopes for the best, or one telephones.
It's a bit of a pain.

V8

Do you mean stash or has he got fantastic facial hair? Just asking :lol:

I miss reading Waseem's contributions (if that is who you mean), always insightful. Is he still active anywhere these days?

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Re: MBSR/MBSP: Where do you hold them?

#327470

Postby GoSeigen » July 20th, 2020, 11:38 am

Padders72 wrote:I miss reading Waseem's contributions (if that is who you mean), always insightful. Is he still active anywhere these days?


https://twitter.com/wshak1?lang=en

GS


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