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Money Obersver IT Portfolios

Closed-end funds and OEICs
StOmer

Money Obersver IT Portfolios

#240068

Postby StOmer » July 29th, 2019, 10:05 am

Money Observer has posted an article covering their latest Conservative and Adventurous Investment Trust picks.

https://www.moneyobserver.com/annual-review-our-10-adventurous-investment-trust-tips

https://www.moneyobserver.com/annual-review-our-10-conservative-investment-trust-tips

These are always quite interesting although their other model-portfolios contain a lot of IT's also. I always wonder why they pick 9 holdings for each portfolio rather than simply going for a straight 10 @ 10% each.

YeeWo
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Re: Money Obersver IT Portfolios

#240069

Postby YeeWo » July 29th, 2019, 10:09 am

StOmer wrote:I always wonder why they pick 9 holdings for each portfolio rather than simply going for a straight 10 @ 10% each.
The last 9 portfolio-managers' who bought the Journalists drinks? Advertising budgets spent in Moneyweek perhaps? Please excuse my undoubted cynicism, I would expect nothing less from the financial services industry though........

jonesa1
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Re: Money Obersver IT Portfolios

#240124

Postby jonesa1 » July 29th, 2019, 11:56 am

The MO "Conservative " and "Adventurous" IT portfolios have been updated this month and now feature 10 investments each (added North American ITs). I think the assumption is that each IT represents 10% of the portfolio. For their Model Folios they go for 7 investments each, a mix of funds and ITs, with fairly arbitrary looking weightings.

Peter1B1
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Re: Money Obersver IT Portfolios

#240501

Postby Peter1B1 » July 30th, 2019, 2:31 pm

Interesting list. My 'slightly more adventurous' portfolio - although KID Risk Ratings never exceed 5 - does not have a specific private equity play, so I looked further into Princess Private Equity, which gives itself a RR of 4.

10% concentration in a building, global private schools group - which is certainly 'specialist'. Many other names I have not heard of, which I suppose is why I am interested in the private equity opportunity.

I will be interested in Fools' views; and whether I should put Princess on my watch list. Thanks.

torata
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Re: Money Obersver IT Portfolios

#240504

Postby torata » July 30th, 2019, 2:46 pm

Peter1B1 wrote:Interesting list. My 'slightly more adventurous' portfolio - although KID Risk Ratings never exceed 5 - does not have a specific private equity play, so I looked further into Princess Private Equity, which gives itself a RR of 4.

10% concentration in a building, global private schools group - which is certainly 'specialist'. Many other names I have not heard of, which I suppose is why I am interested in the private equity opportunity.

I will be interested in Fools' views; and whether I should put Princess on my watch list. Thanks.


An additional question to the request by Peter1B1 above:
IIUC it looks like they replaced Pantheon with Princess. Does anyone know the reason?

torata

StOmer

Re: Money Obersver IT Portfolios

#240793

Postby StOmer » July 31st, 2019, 2:10 pm

IIUC it looks like they replaced Pantheon with Princess. Does anyone know the reason?

Not yet, I hear the magazine may have more details but as yet it is not in our local shop. I'm interested in the reason as I sold Pantheon a couple of weeks back myself.

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Re: Money Obersver IT Portfolios

#240799

Postby UncleEbenezer » July 31st, 2019, 2:23 pm

StOmer wrote:
IIUC it looks like they replaced Pantheon with Princess. Does anyone know the reason?

Not yet, I hear the magazine may have more details but as yet it is not in our local shop. I'm interested in the reason as I sold Pantheon a couple of weeks back myself.

So why did you sell Pantheon? To raise money, or have you lost faith in it?

(I hold Princess in the ISA - no plans either to top up or to sell).

jonesa1
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Re: Money Obersver IT Portfolios

#240837

Postby jonesa1 » July 31st, 2019, 4:17 pm

torata wrote:
IIUC it looks like they replaced Pantheon with Princess. Does anyone know the reason?


The MO article is very positive about Partners Group and how they have transformed Princess, they don't say why Pantheon has been replaced, just that it has. MO claim a 1 year total return for Pantheon of 5.2%. HL's website today suggests 13.5% (same as AIC, presumably both derived from Moningstar). The share price of Princess in Euros was about 10 a year ago, 9.68 today, AIC claim a 1 year total return of 2.5%. Princess pays a fairly large dividend, compared with none from Pantheon - anyway the portfolio isn't designed to generate income. Charges for Princess (3.18%) are higher than Pantheon (1.22%).
What-ever the reason for the change, it doesn't look like it's based on performance over the last year, nor charges.

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Re: Money Obersver IT Portfolios

#240858

Postby Muddywaters » July 31st, 2019, 5:21 pm

Pantheon is a fund of fund, so that charge quoted I’m guessing will be an AMC for Pantheon rather than the cost of the underlying which I’m guessing overall would be much higher. Private Equity is expensive.

I hold Pantheon because it’s a broad brush approach. I would never hold fund of fund outside of PE but I suck it up here because I can’t easily see under the bonnet and don’t know enough about it.

Princess is a straight pe fund. Hence the higher quoted charge

No idea why they switched them

I’m on the hunt to add something else for pe exposure but the plan is to increase my weight to15% short term, maybe 20% long term. I’m thinking etf at the moment


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