Help with iWeb Share Research - only Accumulation IT's available?

[iambic]

Apologies in advance if this is a silly question, but I haven't been able to find the answer anywhere online.

I'm looking at opening an ISA with iWeb & buying some units of Investment Trusts. I'd like to take the dividend payments out as income but looking at the pages for each IT, it says "Share Type: Accumulation" & "Dividend Frequency: None". This is even the case for IT's with the word Income in their name - for example: https://www.markets.iweb-sharedealing.co.uk/share-centre/investment-trusts/details/HINT/GB00B3PHCS86/F00000MBH9

Unlike Fidelity, which shows the dividend payments, frequency etc., I can't find any information on iWeb about the IT dividend payments. I thought it was only funds that had inc/acc options, but I'm new to IT's so am happy to be corrected.

Is it possible to have iWeb pay out dividends from IT's rather than automatically reinvesting them?

Thanks,
iambic

[Alaric]

Is it possible to have iWeb pay out dividends from IT's rather than automatically reinvesting them?

ITs work the same way as shares for dividend payments and there's usually only the one share class, so it's down to the platform or the instructions you give to the platform as to how they are handled.

There are at least three options that a Broker could offer.

Automatic reinvestment
Add dividend to cash account, but otherwise do nothing
Add dividend to cash account and then pay it to your bank account.

With ii for example, dividends are added to the cash account. If you want them in your bank account, you have to create a transaction to do this. That's not really a problem as it only takes a couple of minutes every so often.

[monabri]

I hold Merchants, BRCI, EAT & HFEL in my iWeb account. The divis are paid 1/4ly. There are 4 options for reinvestment....in the " account management/ dividend options" - see below. I use option 2 ( possibly the default as I've not set the option).


1 Automatic Dividend Reinvestment' will enable dividends from UK and Irish CREST eligible stocks to be automatically reinvested into the source stock. Any remaining cash will be paid into your share dealing account. Please note a 2% commission (maximum £5) is payable on all dividend reinvestments.

2 'Hold In Account' will retain the dividend in your share dealing account until you take further action.

3 'Pay Away Immediately' will send collected dividend totals to your nominated bank account shortly after the dividend pay date.

4'Pay Away 6-Monthly' will send collected dividend totals to your nominated bank account every 6 months, usually at the end of April and October of each year.

[iambic]

I hold Merchants, BRCI, EAT & HFEL in my iWeb account. The divis are paid 1/4ly. There are 4 options for reinvestment....in the " account management/ dividend options" - see below. I use option 2 ( possibly the default as I've not set the option).

That's really helpful monabri, thank you. It took me long enough to work out which platform looked like the best option fee-wise; I'm relieved that they give you the option of how to handle dividends otherwise it would be back to the drawing board!

[monabri]

Glad that helps. I'm pleased with iWeb ( dealing costs) and have no difficulties shuffling money into or out of the account to my linked bank account.

I've not tried anything fancy ..just buying and selling of individual shares, ETFs and ITs.

[nmdhqbc]

buying some units of Investment Trusts

I don't think they call them units for Investment Trusts. They are shares and you can only buy whole number of shares. If it's an income type trust they will always pay out the dividends. Don't do different types of the shares.

I'd like to take the dividend payments out as income but looking at the pages for each IT, it says "Share Type: Accumulation" & "Dividend Frequency: None".

That info is just incorrect. I guess the most robust source of info is straight from the horses mouth. i.e. Janus Henderson's own fact sheet below says "Dividend paymentFebruary, May,August, November".

https://az768132.vo.msecnd.net/document ... 3.gzip.pdf

A bit of a pain to go looking for each fund managers website so I tend to use Hargreaves Lansdowns factsheets but buy in iWeb. But they are not infallible. Especially with their yield calculations. I'd always work that out myself to make sure. Bottom left has recent detailed dividend info. Click to other more detailed views of dividends from there.

https://www.hl.co.uk/shares/shares-sear ... rd-gbp0.01

[iambic]

buying some units of Investment Trusts

I don't think they call them units for Investment Trusts. They are shares and you can only buy whole number of shares. If it's an income type trust they will always pay out the dividends. Don't do different types of the shares.

Ah thanks for letting me know - I first of all wrote "...buying some Investment Trusts" but realised that wasn't correct so (incorrectly!) plumped for "units".

A bit of a pain to go looking for each fund managers website so I tend to use Hargreaves Lansdowns factsheets but buy in iWeb. But they are not infallible. Especially with their yield calculations. I'd always work that out myself to make sure. Bottom left has recent detailed dividend info. Click to other more detailed views of dividends from there.
https://www.hl.co.uk/shares/shares-sear ... rd-gbp0.01

I've found it quite confusing that you get different bits of info from different places. I've used the AIC website for IT research which seems quite thorough; apart from it doesn't really tell you anything about what the trust invests in (at least not in terms of a "newbie" explanation). So I've also looked at FundCalibre for the few IT's that appear on there, or on the trust factsheets, or just plan Googling.

I'll certainly add the HL share research to my list of resources though, as it looks quite thorough & it's good to know it includes dividend info, unlike iWeb.

[tramrider]

I've found it quite confusing that you get different bits of info from different places. I've used the AIC website for IT research which seems quite thorough; apart from it doesn't really tell you anything about what the trust invests in (at least not in terms of a "newbie" explanation).

On the AIC web site, for each IT there are several tabs, with Overview being the main one. Using HFEL Henderson Far East Income as an example,

https://www.theaic.co.uk/companydata/153

AIC gives the IT's philosophy as:

Objective To provide shareholders with a growing total annual dividend per share, as well as capital appreciation, from a diversified portfolio of investments from the Asia Pacific region.

Just below it gives a link to the group of ITs invested in a particular area, and this link is very useful for comparing the returns of the similar ITs over periods of 1, 5 and 10 years.

AIC sector Asia Pacific - Excluding Japan

The other very useful feature to show the trust's investments is the Portfolio tab near the top, which takes you to data on the Geographic breakdown, the Industry breakdown and the Top holdings, which is useful to see how concentrated the IT is on particular companies and whether you recognise any.

Although not relevant to the contents of the trust, the Performance tab near the top gives the IT share price and NAV total return over the last few years, and the variation in the discount (difference between share price and NAV), which may help you in picking a useful trust. I find the AIC site very helpful.

Tramrider

[iambic]

Although not relevant to the contents of the trust, the Performance tab near the top gives the IT share price and NAV total return over the last few years, and the variation in the discount (difference between share price and NAV), which may help you in picking a useful trust. I find the AIC site very helpful.

Thanks very much Tramrider, your post is very helpful. I've found a lot of useful sections on the AIC website already - like the heat maps for cost comparison of different platforms as one example, so it's great to understand a little better the sort of IT information that they provide.