USDV is an ETF that holds high quality US stocks that pay healthy dividends
Top Ten holdings:-
1 CHEVRON CORP ORD 2.24% of the fund 2 REALTY INCOME CORP ORD 2.21% of the fund 3 XCEL ENERGY INC ORD 1.83% of the fund 4 EDISON INTERNATIONAL ORD 1.75% of the fund 5 WEC ENERGY GROUP INC ORD 1.73% of the fund 6 KENVUE INC ORD 1.73% of the fund 7 KIMBERLY-CLARK CORP ORD 1.72% of the fund 8 INTERNATIONAL BUSINESS MACHINES CORP ORD 1.60% of the fund 9 ABBVIE INC ORD 1.54% of the fund 10 ARCHER-DANIELS-MIDLAND CO ORD 1.54% of the fund
The FTSE All-World High Dividend Yield UCITS ETF (VHYG) is a Vanguard ETF owning shares in high dividend companies.
Number of stocks 2,135 Total assets $815.1 Million
This ETF tracks the FTSE All-World High Dividend Yield Index
Top ten holdings:-
JPMorgan Chase & Co 2.28% of the fund Exxon Mobil Corp 1.68% of the fund Home Depot Inc/The 1.35% of the fund Procter & Gamble Co/The 1.35% of the fund Johnson & Johnson 1.19% of the fund AbbVie Inc 1.03% of the fund Bank of America Corp 1.02% of the fund Chevron Corp 0.89% of the fund Wells Fargo & Co 0.85% of the fund Merck & Co Inc 0.82% of the fund
The M&G Managed Growth Fund is a fund of funds, that invests in other M&G Funds.
At least 70% of the fund is invested in other funds to give exposure to a range of assets from anywhere in the world. The fund may also invest directly in these assets and use derivatives. In aggregate, at least 70% of the fund’s assets will be invested in company shares, either directly or via other funds.
The M&G Global AI Themes Fund is a relatively new fund that seeks to identify opportunities where artificial intelligence (AI) is emerging as a potential driver to long-term revenue growth or profit margin expansion. They look for innovations through provision or adoption of Al, which they expect will cause changes in the way existing markets or businesses operate. At least 80% of the fund is invested in the shares of companies in the following three categories: AI Enablers (providing key underlying AI technology), AI Providers (supplying AI services to end users) and AI Beneficiaries (companies that meaningfully benefit from using AI).
The voting rights attaching to the Unilever Group Shares are not exercisable. Accordingly, as at 29 November 2024, there were 2,475,572,871 shares with voting rights.
Thus:-
2,475,572,871 x £0.3663 = £906,802,342.6473
That is £906 million paid to shareholders in Unilever PLC.
Suddenly, something has happened to me As I was having my cup of tea Suddenly, I was feeling depressed I was utterly and totally stressed Do you know you made me cry? (Woah-oh) Do you know you made me die?
And the thing that gets to me (thing that gets to me) Is you’ll never really see (never really see) And the thing that freaks me out (thing that freaks me out) Is I’ll always be in doubt (always be in)
It is the lovely thing that we have It is the lovely thing that we It is the lovely thing The animal, the animal instinct
So take my hands and come with me We will change reality So take my hands and we will pray They won’t take you away They will never make me cry, no-oh They will never make me die
And the thing that gets to me (thing that gets to me) Is you’ll never really see (never really see) And the thing that freaks me out (thing that freaks me out) Is I’ll always be in doubt (always be in)
The animal, the animal The animal instinct in me It’s the animal, the animal The animal instinct in me It’s the animal, it’s the animal It’s the animal instinct in me It’s the animal, it’s the animal It’s the animal instinct in me
“That Terminator is out there. It can’t be bargained with. It can’t be reasoned with. It doesn’t feel pity, or remorse, or fear. And it absolutely will not stop, EVER, until you are DEAD.” ~ Sergeant Kyle Reese, 1984
The Sprott Uranium Miners UCITS ETF is an ETF investing in uranium miners.
The Uranium Miners ETF (URNM) seeks to provide investors with a way to invest in the growth of nuclear power through exposure to uranium miners. This comprises companies involved in the uranium industry, spanning the mining, exploration, development and production of uranium. The uranium miners ETF is also permitted to invest in entities that hold physical uranium, uranium royalties or other non-mining assets.
CAMECO CORP COMMON STOCK 17.57% of the fund NAC KAZATOMPROM JSC GDR 15.15% of the fund SPROTT PHYSICAL URANIUM 11.82% of the fund URANIUM ENERGY CORP 6.05% of the fund DENISON MINES CORP COMMON 5.62% of the fund NEXGEN ENERGY LTD COMMON 5.35% of the fund CGN MINING CO LTD COMMON 5.33% of the fund ENERGY FUELS INC/CANADA 4.33% of the fund YELLOW CAKE PLC COMMON 3.88% of the fund PALADIN ENERGY LTD COMMON 3.36% of the fund
Share Price = 567.00p NAV at Fair = 660.60p Premium / Discount (+/-) at Fair -14.2%
Thus buying 660p for 567p
Top Ten assets:-
1 TSMC 9.6% of the fund 2 Samsung Electronics 6.5% of the fund 3 Tencent 4.8% of the fund 4 Bytedance Ltd. 3.2% of the fund 5 Zijin Mining 3.1% of the fund 6 Daily Hunt 3.0% of the fund 7 PDD Holdings 2.6% of the fund 8 Sea Limited 2.6% of the fund 9 Delhivery 2.6% of the fund 10 Equinox India Developments Ltd 2.6% of the fund
UK Government Debt Interest on the cumulative national debt for 2024-25 will be £89 Billion, money that can NOT be used for public services such as the NHS, our brave armed forces, our brave police, fire services, ambulance crews, teachers, courts, etc etc
Courtesy of The Treasury and The Office of Budget Responsibility
In 2024-25, HM Government faces a short fall of £127 billion so will borrow it.
Courtesy of The Treasury and The Office of Budget Responsibility
Another month, guess what, take a lucky guess, it is the same old story, HM Government, spends more money than it receives via taxes and duties. Now we are in a post Covid 19 world. UK’s HM Government needs to fund many new demands. https://www.dmo.gov.uk
Another deficit month, thus to bridge the gap, needs to borrow on the bond market in October 2024, the HM Government had to borrow money to meet the difference between tax revenues and public sector expenditure. The term for this is the PSNCR: The Public Sector Net Cash Requirement. There were “only” 10 auctions of Gilts (UK Government Bonds) by the UK Debt Management Office to raise cash for HM Treasury:-
31-Oct-2024 1½% Green Gilt 2053 £2,250.0000 Million 29-Oct-2024 4 1/8% Treasury Gilt 2029 £4,000.0000 Million 23-Oct-2024 3¾% Treasury Gilt 2027 £4,787.2730 Million 22-Oct-2024 0 5/8% Index-linked Treasury Gilt 2045 £1,084.8490 Million 16-Oct-2024 4% Treasury Gilt 2031 £4,374.9990 Million 15-Oct-2024 4 3/8% Treasury Gilt 2054 £2,812.4990 Million 09-Oct-2024 4¼% Treasury Gilt 2034 £3,768.7500 Million 08-Oct-2024 0 1/8% Index-linked Treasury Gilt 2039 £1,151.6210 Million 02-Oct-2024 4 1/8% Treasury Gilt 2029 £4,020.0000 Million 01-Oct-2024 4¾% Treasury Gilt 2043 £2,812.4980 Million
£2,250.0000 Million + £4,000.0000 Million + £4,787.2730 Million + £1,084.8490 Million + £4,374.9990 Million + £2,812.4990 Million + £3,768.7500 Million + £1,151.6210 Million + £4,020.0000 Million + £2,812.4980 Million = £31,062.49 Million
£31,062.49 Million = £31.062 Billion
On another way of looking at it, is in the 31 days October 2024, HM Government borrowed:- £1002.015774 Million (£1.002 Billion) each day for the 31 days.
We are fortunate, while the global banking and financial markets still has the confidence in HM Government to buy the Gilts (Lend money to the UK), the budget deficit keeps rising. What is also alarming, is the dates these bonds maturing from 2027 to 2054. All long-term borrowings, we are mortgaging our futures, but at least “We Are In It Together……“
Michael Gitlin is President and CEO of Capital Group, the investment behemoth that manages $2.7 trillion and is one of the oldest and largest money managers in the USA.
“The idea that a bell rings to signal when to get into or out of the stock market is simply not credible. After nearly fifty years in this business, I don’t know anybody who has done it successfully and consistently. I don’t even know anybody who knows anybody who has.“
‘Twas in another lifetime, one of toil and blood When blackness was a virtue the road was full of mud I came in from the wilderness, a creature void of form Come in, she said I’ll give ya shelter from the storm
And if I pass this way again, you can rest assured I’ll always do my best for her, on that I give my word In a world of steel-eyed death, and men who are fighting to be warm Come in, she said I’ll give ya shelter from the storm
Not a word was spoke between us, there was little risk involved Everything up to that point had been left unresolved Try imagining a place where it’s always safe and warm Come in, she said I’ll give ya shelter from the storm
I was burned out from exhaustion, buried in the hail Poisoned in the bushes an’ blown out on the trail Hunted like a crocodile, ravaged in the corn Come in, she said I’ll give ya shelter from the storm
Suddenly I turned around and she was standin’ there With silver bracelets on her wrists and flowers in her hair She walked up to me so gracefully and took my crown of thorns Come in, she said I’ll give ya shelter from the storm
Now there’s a wall between us, somethin’ there’s been lost I took too much for granted, I got my signals crossed Just to think that it all began on an uneventful morn Come in, she said I’ll give ya shelter from the storm
Well, the deputy walks on hard nails and the preacher rides a mount But nothing really matters much, it’s doom alone that counts And the one-eyed undertaker, he blows a futile horn Come in, she said I’ll give ya shelter from the storm
I’ve heard newborn babies wailin’ like a mournin’ dove And old men with broken teeth stranded without love Do I understand your question, man, is it hopeless and forlorn Come in, she said I’ll give ya shelter from the storm
In a little hilltop village, they gambled for my clothes I bargained for salvation and she gave me a lethal dose I offered up my innocence I got repaid with scorn Come in, she said I’ll give ya shelter from the storm
Well, I’m livin’ in a foreign country but I’m bound to cross the line Beauty walks a razor’s edge, someday I’ll make it mine If I could only turn back the clock to when God and her were born Come in, she said I’ll give ya shelter from the storm
iShares S&P 500 Equal Weight UCITS ETF GBP Hedged (Acc) is a fund that invests equally in the S&P500 Index.
The fund aims to achieve a return on investment, through capital and income returns on its assets, which reflects the return of the S&P 500 Equal Weight Index
It gives investors:-
Provides exposure to 500 stocks from top US companies in leading industries of the US economy The Index measures the performance of securities within the S&P 500 Index (Parent Index) with each security being equally weighted within the Index at the rebalance date Exposure to companies in the S&P 500 with a greater weighting in the smaller market capitalization companies
What this actually means is that these seven companies are now so valuable that they make up a combined 35.5% of the S&P 500.
Thus the index of 500 companies is 35.5% dominated by the 7 technology titans.
Thus, the risk is that The Magnificent Seven are so valuable that they can single-handedly spark a so-called correction in the S&P 500. A correction is a fall of 10% to 20% in a major market index, so an average decline of 28% in the Magnificent Seven could put the S&P 500 in correction territory
Another month, guess what, take a lucky guess, it is the same old story, HM Government, spends more money than it receives via taxes and duties. Now we are in a post Covid 19 world. UK’s HM Government needs to fund many new demands. https://www.dmo.gov.uk
Another deficit month, thus to bridge the gap, needs to borrow on the bond market in August 2024, the HM Government had to borrow money to meet the difference between tax revenues and public sector expenditure. The term for this is the PSNCR: The Public Sector Net Cash Requirement. There were “only” 7 auctions of Gilts (UK Government Bonds) by the UK Debt Management Office to raise cash for HM Treasury:-
25-Sep-2024 4% Treasury Gilt 2031 3,750.00 £3,750.0000 Million 24-Sep-2024 0¾% Index-linked Treasury Gilt 2033 £1,500.00 Million 18-Sep-2024 0 7/8% Green Gilt 2033 £2,750.00 Million 17-Sep-2024 4 3/8% Treasury Gilt 2054 £2,250.00 Million 11-Sep-2024 4¼% Treasury Gilt 2034 £3,750.00 Million 10-Sep-2024 0 5/8% Index-linked Treasury Gilt 2045 £900.00 Million 05-Sep-2024 4 1/8% Treasury Gilt 2029 £4,000.00 Million
3,750.0000 Million + 1,500.00 Million + 2,750.0000 Million + 3,750.00 Million + 900.00 Million + 4,000 Million = £18,900 Million
£18,900 Million = £18.9 Billion
On another way of looking at it, is in the 30 days Sept 2024, HM Government borrowed:- £630 Million each day for the 30 days.
We are fortunate, while the global banking and financial markets still has the confidence in HM Government to buy the Gilts (Lend money to the UK), the budget deficit keeps rising. What is also alarming, is the dates these bonds maturing from 2029 to 2054. All long-term borrowings, we are mortgaging our futures, but at least “We Are In It Together……“
Today, Thursday 17th Oct 2024, Aviva PLC one of the UK largest casualty and life insurers and money managers (Aviva Investors) pays out its October 2024 dividend.
The L&G Energy Transition Commodities UCITS ETF aims to track the performance of the Solactive Energy Transition Commodity TR Index
Its objective is to give investors:-
Transition metals exposure Futures on transition metals, which are used in clean energy generation, storage and distribution equipment.
Transition energy exposure Futures on transition energy, which emits less carbon than most other fossil fuels and can help overcome peak energy demand and the challenge of ‘hard to abate’ sectors.
Carbon exposure Allocation to an exchange listed certificate (the “Certificate”) which provides exposure to an index of global carbon futures. Carbon pricing makes polluting less profitable and incentivises the switch to low- and no-carbon activities.
Courtesy of Legal and General Investment Management
The aim of the abrdn Sustainable Index World Equity Fund is to generate growth over the long term (5 years or more) by tracking the return of the MSCI World Select ESG Climate Solutions Target Index.
Underlying Fund Launch Date 12/11/2020 Underlying Fund Size (28/06/2024) £2,667.6m
Top 10 Holdings
MICROSOFT CORP 5.5% of the fund NVIDIA CORP 5.3% of the fund APPLE INC 4.2% of the fund ALPHABET INC 2.8% of the fund AMAZON.COM INC 2.5% of the fund ELI LILLY & CO 1.3% of the fund COCA-COLA CO/THE 1.2% of the fund META PLATFORMS INC 1.0% of the fund TRANE TECHNOLOGIES PLC 1.0% of the fund NOVO NORDISK A/S 0.9% of the fund
1 SAMSARA INC ORD 2.57% of the fund 2 PALO ALTO NETWORKS INC ORD 2.41% of the fund 3 CLOUDFLARE INC ORD 2.35% of the fund 4 SERVICENOW INC ORD 2.34% of the fund 5 AUTODESK INC ORD 2.33% of the fund 6 MICROSOFT CORP ORD 2.25% of the fund 7 ARISTA NETWORKS INC ORD 2.24% of the fund 8 NVIDIA CORP ORD 2.21% of the fund 9 RAPID7 INC ORD 2.15% of the fund 10 COGNEX CORP ORD 2.14% of the fund
The Vanguard Target Retirement 2035 Fund The Fund’s investment objective is to achieve an increase in value and, consistent with a gradually changing asset allocation, hold investments that will pay out money for investors planning to retire in or within approximately five years after 2035. The Fund’s asset allocation will become more conservative as 2035 is approached and passed, moving from higher risk (such as shares) to mainly lower risk (such as bonds) investments. The Fund seeks to achieve its investment objective by investing more than 90% of its assets in passive funds that track an index
It is a fund of funds:-
Vanguard Global Bond Index Fund GBP Hedged Acc 19.3% of the fund Vanguard FTSE Developed World ex-U.K. Equity Index Fund GBP Acc 19.0% of the fund Vanguard U.S. Equity Index Fund GBP Acc 14.9% of the fund Vanguard FTSE U.K. All Share Index Unit Trust GBP Acc 12.8% of the fund Vanguard U.K. Government Bond Index Fund GBP Acc 6.6% of the fund Vanguard Emerging Markets Stock Index Fund GBP Acc 4.9% of the fund Vanguard FTSE North America UCITS ETF (USD) Accumulating 4.4% of the fund Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Accumulating 4.4% of the fund Vanguard FTSE 100 UCITS ETF (GBP) Accumulating 3.8% of the fund Vanguard U.K. Investment Grade Bond Index Fund GBP Acc 3.6% of the fund Vanguard FTSE Developed Europe ex-U.K. Equity Index Fund GBP Acc 3.5% of the fund Vanguard Japan Stock Index Fund GBP Acc 1.8% of the fund Vanguard Pacific ex-Japan Stock Index Fund GBP Acc 0.8% of the fund
Cash Provided by or Used in Financing Activities from Continuing Operations In 2023, cash used in financing activities totaled $15,614 Million and was comprised of debt issuances and repayments, payments of dividends, issuances and repurchase of preferred interests in subsidiaries and vendor financing payments….
Yes that is $15.614 billion used as interest payments, dividends and other financings costs….
UK general government gross debt was £2,720.8 billion at the end of Quarter 4 (Oct to Dec) 2023, equivalent to 101.3% of gross domestic product (GDP). UK general government gross debt is mainly made up of medium and long-term bonds (Gilts), issued by HM Treasury.
Courtesy of the UK Office for National Statistics
The £2720.8 Billion is made up of Bills & Short Term loads, Loans, Currency & Deposits and then the bulk is Medium and Long Term Bonds (Gilts)
in 2023-24, the UK Government paid out £104.7 Billion in Interest Payments on the national debt. Money that is simply paid to the UK Government lenders (creditors), cash that can not be used for public services such as Schools, Universities, Armed Forces, Police, Fire Service, The National Health Service, it is pure financing costs.
Courtesy of HM Treasury & The Office of Budget Responsibility.
In 2024-25 UK Government is forecast to pay out £89 Billion in interest payments to the lenders to the UK Government debt. This is purely the interest on the £2000 Billion of national debt, again cash that can not be used for public services such as Schools, Universities, Armed Forces, Police, Fire Service, The National Health Service, it is pure financing costs.
Courtesy of HM Treasury & The Office of Budget Responsibility.
Another month, guess what, take a lucky guess, it is the same old story, HM Government, spends more money than it receives via taxes and duties. Now we are in a post Covid 19 world. UK’s HM Government needs to fund many new demands. https://www.dmo.gov.uk
Another deficit month, thus to bridge the gap, needs to borrow on the bond market in August 2024, the HM Government had to borrow money to meet the difference between tax revenues and public sector expenditure. The term for this is the PSNCR: The Public Sector Net Cash Requirement. There were “only” 5 auctions of Gilts (UK Government Bonds) by the UK Debt Management Office to raise cash for HM Treasury:-
28-Aug-2024 0¾% Index-linked Treasury Gilt 2033 3 months 1,547.3750 Million 21-Aug-2024 3¾% Treasury Gilt 2027 4,000.9820 Million 13-Aug-2024 3¾% Treasury Gilt 2038 3,749.9970 Million 07-Aug-2024 4 1/8% Treasury Gilt 2029 4,020.2500 Million 06-Aug-2024 4¾% Treasury Gilt 2043 2,499.9990 Million
£1,547.3750 Million + £4,000.9820 Million + £3,749.9970 Million + £4,020.2500 Million + £2,499.9990 Million = £15,818.603 Million
£15,818.603 Million = £15.818603 Billion
On another way of looking at it, is in the 31 days in August 2024, HM Government borrowed:- £510.27751612903225806451612903226 Million each day for the 31 days.
We are fortunate, while the global banking and financial markets still has the confidence in HM Government to buy the Gilts (Lend money to the UK), the budget deficit keeps rising. What is also alarming, is the dates these bonds maturing from 2027 to 2043. All long-term borrowings, we are mortgaging our futures, but at least “We Are In It Together……“
1 PETROCHINA CO LTD ORD 6.36% of the fund 2 CHINA MERCHANTS BANK CO LTD ORD 4.46% of the fund 3 PING AN INSURANCE GROUP CO OF CHINA LTD ORD 4.40% of the fund 4 CK INFRASTRUCTURE HOLDINGS LTD ORD 3.53% of the fund 5 HONG KONG AND CHINA GAS CO LTD ORD 3.38% of the fund 6 CHINA RESOURCES LAND LTD ORD 3.28% of the fund 7 BOSIDENG INTERNATIONAL HOLDINGS LTD ORD 3.16% of the fund 8 APA GROUP 3.02% of the fund 9 SWIRE PROPERTIES LTD ORD 2.79% of the fund 10 ENN ENERGY HOLDINGS LTD ORD 2.76% of the fund
The SL abrdn Sustainable Index World Equity Pension Fund id a £2667m fund.
Its investment strategy is to generate growth over the long term (5 years or more) by tracking the return of the MSCI World Select ESG Climate Solutions Target Index
Top Holdings of the fund (%) MICROSOFT CORP 5.5% of the fund NVIDIA CORP 5.3% of the fund APPLE INC 4.2% of the fund ALPHABET INC 2.8% of the fund AMAZON.COM INC 2.5% of the fund ELI LILLY & CO 1.3% of the fund COCA-COLA CO/THE 1.2% of the fund META PLATFORMS INC 1.0% of the fund TRANE TECHNOLOGIES PLC 1.0% of the fund NOVO NORDISK A/S 0.9% of the fund
The JPM Natural Resources Fund is a fund that invests primarily in the shares of, companies throughout the world engaged in the production and marketing of commodities. The Fund aims to provide capital growth over the long term.
Underlying Fund Launch Date 01/06/1965 Underlying Fund Size (28/03/2024) £901.9m
Top Ten Holdings:-
EXXON MOBIL 8.7% of the fund RIO TINTO 7.1% of the fund SHELL 6.0% of the fund FREEPORT-MCMORAN 5.6% of the fund BHP 5.3% of the fund TOTALENERGIES 4.7% of the fund EOG RESOURCES 3.2% of the fund MARATHON PETROLEUM 3.0% of the fund CANADIAN NATURAL RESOURCES 2.8% of the fund VALERO ENERGY 2.6% of the fund
Berkshire Hathaway has surpassed $1 Trillion stock valuation, on Wed 28th August 2024, the investment company of Warren Buffett broke the $1 Trillion mark.
Berkshire Hathaway has now joined six other companies, mainly from the technology sector, above $1trn: Apple, Nvidia, Microsoft, Google’s parent Alphabet, Amazon.com & Facebook’s parent Meta
Another month, guess what, take a lucky guess, it is the same old story, HM Government, spends more money than it receives via taxes and duties. Now we are in a post Covid 19 world. UK’s HM Government needs to fund many new demands. https://www.dmo.gov.uk
Another deficit month, thus to bridge the gap, needs to borrow on the bond market in July 2024, the HM Government had to borrow money to meet the difference between tax revenues and public sector expenditure. The term for this is the PSNCR: The Public Sector Net Cash Requirement. There were “only” 7 auctions of Gilts (UK Government Bonds) by the UK Debt Management Office to raise cash for HM Treasury:-
30-Jul-2024 4¼% Treasury Gilt 2034 £4,254.8850 Million 24-Jul-2024 4 3/8% Treasury Gilt 2054 £2,575.2490 Million 23-Jul-2024 0 1/8% Index-linked Treasury Gilt 2039 3 months £1,239.3250 Million 17-Jul-2024 4 1/8% Treasury Gilt 2029 £4,000.0000 Million 16-Jul-2024 4¾% Treasury Gilt 2043 £2,812.4990 Million 11-Jul-2024 4% Treasury Gilt 2031 £3,750.0000 Million 02-Jul-2024 3¾% Treasury Gilt 2027 £4,110.0000 Million
£4,254.8850 Million + £2,575.2490 Million + £1,239.3250 Million + £4,000.0000 Million + £2,812.4990 Million + £3,750.0000 Million + £4,110.0000 Million = £22,741.958 Million
£22,741.958 Million = £22.741958 Billion
On another way of looking at it, is in the 31 days in July 2024, HM Government borrowed:- £733.61154838709677419354838709677 Million each day for the 31 days.
We are fortunate, while the global banking and financial markets still has the confidence in HM Government to buy the Gilts (Lend money to the UK), the budget deficit keeps rising. What is also alarming, is the dates these bonds maturing from 2027 to 2054. All long-term borrowings, we are mortgaging our futures, but at least “We Are In It Together……“
The SL abrdn MyFolio Market V Pension Fund is a £618.6m investment fund, that is a fund of funds.
The fund invests at least 60% in passively managed funds, including those managed by abrdn, to obtain broad exposure to a range of diversified investments. Typically at least 80% is invested in assets traditionally viewed as being higher risk such as company shares, emerging market bonds (loans to an emerging market government) and commercial property. The rest of the fund is invested in a selection of other assets such as money market instruments including cash, government bonds (loans to a government) and investment grade corporate bonds (loans to a company).
SL US Equity Tracker Pension Fund 73.9% of the fund SL European Equity Tracker Pension Fund 13.8% of the fund SL Japanese Equity Tracker Pension Fund 6.4% of the fund SL Canadian Tracker Pension Fund 3.1% of the fund SL Pacific Basin Equity Tracker Pension Fund 2.8% of the fund
1 DARKTRACE PLC ORD 6.78 % if the fund 2 BROADCOM INC ORD 6.44 % if the fund 3 CROWDSTRIKE HOLDINGS INC ORD 6.35 % if the fund 4 PALO ALTO NETWORKS INC ORD 6.34 % if the fund 5 GEN DIGITAL INC ORD 5.73 % if the fund 6 CYBERARK SOFTWARE LTD ORD 5.29 % if the fund 7 CHECK POINT SOFTWARE TECHNOLOGIES LTD ORD 5.17 % if the fund 8 CISCO SYSTEMS INC ORD 5.06 % if the fund 9 FORTINET INC ORD 4.69 % if the fund 10 SENTINELONE INC ORD 4.64 % if the fund
Cordiant Digital Infrastructure Limited (LSE: CORD) is a UK-listed investment company incorporated in Guernsey, that is the owner and operator of digital infrastructure assets in the UK, the EEA and North America.
CORD creates value from investing in the critical infrastructure of the modern internet, including cloud and data centres, mobile & broadcast towers and fibre-optic networks.
The Fund invests predominantly in shares of companies globally, including emerging markets, across a variety of sectors. The fund invests in companies capable of delivering long-term sustainable growth with high returns on capital.
Courtesy of Legal and General Investment Management
Courtesy of the Office of Budget Responsibility (The OBR)
In the financial year 2023/24, government revenue – from taxes and other receipts – was £1,095 billion (£1.1 trillion) while government spending was £1,216 billion (£1.2 trillion). The deficit was therefore £121 billion, equivalent to 4.4% of GDP.
Interest payments on government’s past borrowing are a relatively big cost for government. In 2023/24, government’s net debt interest spending was £102 billion, which is equivalent to 3.8% of GDP or 8.4% of government spending.
Borrowing of £121 billion is equivalent to around £1,780 per head of the UK’s population.
The deficit reached a peacetime record in 2020/21 of 15% of GDP, largely for two reasons:
(1) Government provided support to public services, households and businesses during the pandemic, which cost around £229 billion;
(2) The virus and the lockdowns aimed at slowing its spread took the economy into a severe recession. Less economic activity meant smaller tax receipts and more government spending on areas such as unemployment benefits.
The budget deficit is financed by the sale of government bonds. These are essentially interest paying “IOUs” which the government sells to investors. Purchasers of government bonds include pension funds, insurance companies, households and overseas investors. The bonds make up most government debt. Once the bonds have been bought, they can be traded by investors on so-called secondary markets.
At the end of 2023/24 public sector net debt was £2,690 billion (i.e. £2.6 trillion), or 98% of GDP. This is equivalent to around £37,900 per person in the UK.
Another month, guess what, take a lucky guess, it is the same old story, HM Government, spends more money than it receives via taxes and duties. Now we are in a post Covid 19 world. UK’s HM Government needs to fund many new demands. https://www.dmo.gov.uk
Another deficit month, thus to bridge the gap, needs to borrow on the bond market in May 2024, the HM Government had to borrow money to meet the difference between tax revenues and public sector expenditure. The term for this is the PSNCR: The Public Sector Net Cash Requirement. There were “only” 6 auctions of Gilts (UK Government Bonds) by the UK Debt Management Office to raise cash for HM Treasury:-
26-Jun-2024 3¾% Treasury Gilt 2038 £3,000.0000 Million 25-Jun-2024 0¾% Index-linked Treasury Gilt 2033 3 months £1,802.6990 Million 18-Jun-2024 4 1/8% Treasury Gilt 2029 £4,999.9980 Million 12-Jun-2024 0 5/8% Index-linked Treasury Gilt 2045 3 months £1,071.0000 Million 05-Jun-2024 3¾% Treasury Gilt 2027 £4,999.9990 Million 04-Jun-2024 4% Treasury Gilt 2063 £2,000.0000 Million
£3,000.0000 Million + £1,802.6990 Million + £4,999.9980 Million + £1,071.0000 Million + £4,999.9990 Million + £2,000.0000 Million = £17,873.696 Million
£17,873.696 Million = £17.873696 Billion
On another way of looking at it, is in the 30 days in June 2024, HM Government borrowed:- £595.78986666666666666666666666667 million, each day for the 30 days.
We are fortunate, while the global banking and financial markets still has the confidence in HM Government to buy the Gilts (Lend money to the UK), the budget deficit keeps rising. What is also alarming, is the dates these bonds maturing from 2027 to 2063. All long-term borrowings, we are mortgaging our futures, but at least “We Are In It Together……“
The Legal and General GLOBAL ROBOTICS & AUTOMATION ETF invests in companies as the names states, involved in Automation and Robotics.
Courtesy of the London Stock Exchange
The top ten holdings are:-
1 TERADYNE INC ORD 2.28 2 NVIDIA CORP ORD 1.95 3 ZEBRA TECHNOLOGIES CORP ORD 1.91 4 INTUITIVE SURGICAL INC ORD 1.91 5 KARDEX HOLDING AG ORD 1.89 6 OMNICELL INC ORD 1.88 7 IPG PHOTONICS CORP ORD 1.70 8 KRONES AG ORD 1.69 9 FANUC CORP ORD 1.68 10 YOKOGAWA ELECTRIC CORP ORD 1.68
Courtesy of Legal and General Investment ManagementCourtesy of Legal and General Investment ManagementCourtesy of Legal and General Investment Management
Another month, guess what, take a lucky guess, it is the same old story, HM Government, spends more money than it receives via taxes and duties. Now we are in a post Covid 19 world. UK’s HM Government needs to fund many new demands. https://www.dmo.gov.uk
Another deficit month, thus to bridge the gap, needs to borrow on the bond market in May 2024, the HM Government had to borrow money to meet the difference between tax revenues and public sector expenditure. The term for this is the PSNCR: The Public Sector Net Cash Requirement. There were “only” 7 auctions of Gilts (UK Government Bonds) by the UK Debt Management Office to raise cash for HM Treasury:-
29-May-2024 0 1/8% Index-linked Treasury Gilt 2039 3 months £1,000.0000 Million 22-May-2024 4 1/8% Treasury Gilt 2029 £4,567.7500 Million 21-May-2024 4¾% Treasury Gilt 2043 £2,812.5000 Million 15-May-2024 0 7/8% Green Gilt 2033 £3,000.0000 Million 14-May-2024 0 1/8% Index-linked Treasury Gilt 2073 3 months £622.8500 Million 08-May-2024 1½% Green Gilt 2053 £2,500.0000 Million 01-May-2024 4 5/8% Treasury Gilt 2034 £3,750.0000 Million
£1,000.0000 Million + £4,567.7500 Million + £2,812.5000 Million + £3,000.0000 Million + £622.8500 Million + £2,500.0000 Million + £3,750.0000 Million = £18,253.10 Million
£18,253.10 Million = £18.25310 Billion
On another way of looking at it, is in the 31 days in May 2024, HM Government borrowed:- £588.80967741935483870967741935484 million, each day for the 31 days.
We are fortunate, while the global banking and financial markets still has the confidence in HM Government to buy the Gilts (Lend money to the UK), the budget deficit keeps rising. What is also alarming, is the dates these bonds maturing from 2029 to 2053. All long-term borrowings, we are mortgaging our futures, but at least “We Are In It Together……“
The “ISHRS GLOBAL CLEAN ENERGY ETF” is a London list investment ETF that holds shares in energy companies committed to Clean Energy
Its top ten holdings are:-
1 FIRST SOLAR INC ORD 7.73% of the fund 2 ENPHASE ENERGY INC ORD 7.39% of the fund 3 CONSOLIDATED EDISON INC ORD 6.47% of the fund 4 IBERDROLA SA ORD 6.33% of the fund 5 VESTAS WIND SYSTEMS A/S ORD 6.12% of the fund 6 OERSTED A/S ORD 4.72% of the fund 7 CHINA YANGTZE POWER CO LTD ORD 3.62% of the fund 8 EDP ENERGIAS DE PORTUGAL SA ORD 3.45% of the fund 9 CHUBU ELECTRIC POWER CO INC ORD 3.43% of the fund 10 NEXTRACKER INC ORD 2.73% of the fund
Another month, guess what, take a lucky guess, it is the same old story, HM Government, spends more money than it receives via taxes and duties. Now we are in a post Covid 19 world. UK’s HM Government needs to fund many new demands. https://www.dmo.gov.uk
Another deficit month, thus to bridge the gap, needs to borrow on the bond market in April 2024, the HM Government had to borrow money to meet the difference between tax revenues and public sector expenditure. The term for this is the PSNCR: The Public Sector Net Cash Requirement. There were “only” 6 auctions of Gilts (UK Government Bonds) by the UK Debt Management Office to raise cash for HM Treasury:-
30-Apr-2024 4 1/8% Treasury Gilt 2029 £4,000.0000 Million 17-Apr-2024 4% Treasury Gilt 2031 £3,750.0000 Million 16-Apr-2024 0¾% Index-linked Treasury Gilt 2033 3 months £1,622.0750 Million 10-Apr-2024 3¾% Treasury Gilt 2027 £5,000.0000 Million 09-Apr-2024 4¾% Treasury Gilt 2043 £2,783.6230 Million 04-Apr-2024 4 5/8% Treasury Gilt 2034 £3,750.0000 Million
£4,000.0000million+ £3,750.0000 million + £1,622.0750 million + £5,000.0000 million + £2,783.6230 million + £3,750.0000 million = £20,905.698 Million
£20,905.698 Million = £20.905698 Billion
On another way of looking at it, is in the 30 days in April 2024, HM Government borrowed:- £696.8566 Million each day for the 30 days.
We are fortunate, while the global banking and financial markets still has the confidence in HM Government to buy the Gilts (Lend money to the UK), the budget deficit keeps rising. What is also alarming, is the dates these bonds maturing from 2027 to 2043. All long-term borrowings, we are mortgaging our futures, but at least “We Are In It Together……“
Greencoat UK Wind 7.8% of the fund Clearway Energy A Class 6.5% of the fund NextEnergy Solar Fund 6.2% of the fund Drax Group 6.1% of the fund Octopus Renewables Infrastructure Trust 5.5% of the fund Bonheur 4.8% of the fund RWE 4.4% of the fund SSE 4.4% of the fund Grenergy Renovables 4.1% of the fund Foresight Solar Fund 4.0% of the fund Aquila European Renewables Income Fund 3.6% of the fund Gore Street Energy Storage Fund 3.4% of the fund Cadeler 3.2% of the fund National Grid 3.1% of the fund AES 2.9% of the fund Northland Power 2.8% of the fund Enefit Green 2.6% of the fund US Solar Fund 1.9% of the fund Greencoat Renewable 1.7% of the fund Corporacion Acciona Energias Renovables 1.7% of the fund Atlantica Sustainable Infrastructure 1.7% of the fund GCP Infrastructure Investments 1.5% of the fund 7C Solarparken 1.4% of the fund Cloudberry Clean Energy 1.4% of the fund Harmony Energy Income Trust 1.4% of the fund Polaris Renewable Energy 1.3% of the fund Algonquin Power & Utilities 1.3% of the fund MPC Energy Solutions 1.2% of the fund SDCL Energy Efficiency Income Trust 1.1% of the fund Solaria Energia y Medio Ambiente 1.0% of the fund Gresham House Energy Storage Fund plc 0.9% of the fund Serena Energia 0.8% of the fund Atrato Onsite Energy 0.7% of the fund VH Global Sustainable Energy Opportunities 0.6% of the fund Boralex 0.5% of the fund Innergex Renewable 0.4% of the fund Fusion Fuel Green 0.2% of the fund Fusion Fuel Green Warrants 0.0% of the fund Cash/Net Current Assets 1.9% of the fund
The Legal & General European Index Trust, an an index fund that has the objective to track the performance of the FTSE World Europe ex UK Index, the “Benchmark Index”
Fund size £3,803.8m
Courtesy of Legal and General Investment ManagementCourtesy of Legal and General Investment Management
The F&C Investment Trust PLC Portfolio PE INVESTMENT HOLDINGS 2018 LP MICROSOFT CORP NVIDIA CORP PANTHEON ACCESS SICAV AMAZON.COM INC BROADCOM INC APPLE INC META PLATFORMS INC CLASS A ALPHABET INC CL A MASTERCARD INC A Total Top 10 ELI LILLY + CO INFLEXION STRATEGIC PARTNERS ALPHABET INC CL C TAIWAN SEMICONDUCTOR MANUFAC COMCAST CORP CLASS A VISA INC CLASS A SHARES LOWE S COS INC PE INVESTMENT HOLDINGS 2018 PO NOVO NORDISK A/S B KLA CORP Total Top 20 WELLS FARGO + CO KEYENCE CORP BOOKING HOLDINGS INC MARATHON PETROLEUM CORP ELEVANCE HEALTH INC QUALCOMM INC ABBVIE INC MORGAN STANLEY NETFLIX INC EATON CORP PLC Total Top 30 ORACLE CORP COSTCO WHOLESALE CORP HOME DEPOT INC LINDE PLC BRISTOL MYERS SQUIBB CO AMERICAN INTERNATIONAL GROUP AMERICAN TOWER CORP MICROCHIP TECHNOLOGY INC METLIFE INC LENNAR CORP A Total Top 40 LAM RESEARCH CORP AUTOZONE INC ADVANCED MICRO DEVICES UNITEDHEALTH GROUP INC PHILLIPS 66 MERCADOLIBRE INC AIA GROUP LTD ROCHE HOLDING AG GENUSSCHEIN CROWN CASTLE INC SAP SE Total Top 50 VERTIV HOLDINGS CO A ASML HOLDING NV BANK CENTRAL ASIA TBK PT APPLIED MATERIALS INC MARRIOTT INTERNATIONAL CL A SCHIEHALLION FUND LTD/THE COMPASS GROUP PLC ASTRAZENECA PLC AUTOMATIC DATA PROCESSING ELECTRONIC ARTS INC Total Top 60 S+P GLOBAL INC FIDELITY NATIONAL INFO SERV AIR LIQUIDE SA AMERICAN EXPRESS CO AMPHENOL CORP CL A UBER TECHNOLOGIES INC UNITED KINGDOM GILT INTUIT INC SALESFORCE INC KOMATSU LTD Total Top 70 MITSUBISHI UFJ FINANCIAL GRO MERCK + CO. INC. BAYERISCHE MOTOREN WERKE AG PUBLIC STORAGE SYNOPSYS INC MONOLITHIC POWER SYSTEMS INC EXPEDITORS INTL WASH INC TRANE TECHNOLOGIES PLC COMPAGNIE DE SAINT GOBAIN TENCENT HOLDINGS LTD Total Top 80 STELLANTIS NV ADOBE INC CRH PLC CHIPOTLE MEXICAN GRILL INC FASTENAL CO AIR PRODUCTS + CHEMICALS INC P G + E CORP VODAFONE GROUP PLC MEDTRONIC PLC VERIZON COMMUNICATIONS Total Top 90 REGENERON PHARMACEUTICALS TUPRAS TURKIYE PETROL RAFINE EQUINOR ASA ITOCHU CORP SHELL PLC SCHNEIDER ELECTRIC SE INTUITIVE SURGICAL INC TOYOTA MOTOR CORP FIRSTENERGY CORP NINTENDO CO LTD Total Top 100
India has been one of the best performing major stock markets globally in the last 30 years, compounding returns at 9.9% in US dollars
Top 20 holdings as at 31 March 2024: Holding Sector % of Portfolio Federal Bank Financials – Banks 5.3% of the fund Dixon Technologies Consumer Discretionary 5.2% of the fund Skipper Industrials 4.3% of the fund Neuland Laboratories Health Care 4.2% of the fund Sona BLW Precision Forgings Consumer Discretionary 4.0% of the fund IDFC Bank Financials 3.8% of the fund IndusInd Bank Financials – Banks 3.8% of the fund PI Industries Materials 3.7% of the fund Persistent Systems IT 3.7% of the fund Ramkrishna Forgings Materials 3.7% of the fund RBL Bank Financials – Banks 3.5% of the fund Emami Consumer Staples 3.4% of the fund JK Lakshmi Cement Materials 3.2% of the fund VIP Industries Consumer Discretionary 3.0% of the fund Ashok Leyland Industrials 2.9% of the fund Welspun India Consumer Discretionary 2.7% of the fund Affle India Communication Services 2.6% of the fund Multi Commodity Exchange Financials 2.5% of the fund CCL Products India Consumer Staples 2.5% of the fund Kajaria Ceramics Industrials 2.4% of the fund
Courtesy of The India Capital Growth FundCourtesy of The London Stock Exchange
The L&G Energy Transition Commodities UCITS ETF is an investment aiming to provide exposure to a diversified basket of commodities central to enabling the energy transition.
Transition metals exposure Futures on transition metals, which are used in clean energy generation, storage and distribution equipment.
Transition energy exposure Futures on transition energy, which emits less carbon than most other fossil fuels and can help overcome peak energy demand and the challenge of ‘hard to abate’ sectors.
Carbon exposure Allocation to an exchange listed certificate (the “Certificate”) which provides exposure to an index of global carbon futures. Carbon pricing makes polluting less profitable and incentivises the switch to low- and no-carbon activities.
Courtesy of Legal and General Investment ManagementCourtesy of Legal and General Investment Management
Pascal’s wager is a philosophical argument advanced by Blaise Pascal (1623–1662), seventeenth-century French mathematician, philosopher, physicist, and theologian. This argument posits that individuals essentially engage in a life-defining gamble regarding the belief in the existence of God.
Eleven key stocks have been instrumental to this strong performance, affectionately known as The Granolas. The term was coined by Goldman Sachs in 2020 based on a loose acronym of the stocks’ names. It includes GlaxoSmithKline, Roche, ASML, Nestlé, Novartis, Novo Nordisk, L’Oréal, LVMH, AstraZeneca, SAP and Sanofi.
TheCT Global Managed Portfolio Trust is a ‘multi-manager’ or managed investment trust.
This means it invests in a range of investment companies. In turn, this can give an exposure to different investment providers and markets by using one investment trust. Trust aims: The objective for the Growth Portfolio is to provide growth shareholders with capital growth from a diversified portfolio of investment companies. The Growth Portfolio invests in a diversified portfolio of at least 25 investment companies that have underlying investment exposures across a range of geographic regions and sectors and the focus of which is to maximise total returns, principally through capital growth
Courtesy of Columbia Threadneedle Asset Management
HgCapital Trust 4.5% of the fund Private Equity Polar Capital Technology Trust 3.7% of the fund Technology & Technology Innovation Fidelity Special Values 3.7% of the fund UK All Companies Finsbury Growth & Income Trust 3.6% of the fund UK Equity Income Allianz Technology Trust 3.5% of the fund Technology & Technology Innovation Law Debenture Corporation 3.4% of the fund UK Equity Income JPMorgan American Investment Trust 3.2% of the fund North America Worldwide Healthcare Trust 3.1% of the fund Biotechnology & Healthcare Monks Investment Trust 3.1% of the fund Global Aurora Investment Trust 3.0% of the fund UK All Companies
Peter Higgs, physicist who proposed Higgs boson, dies aged 94. Nobel-prize winning physicist who showed how particle helped bind universe together died at home in Edinburgh. Peter Higgs, the Nobel prize-winning physicist who proposed a new particle known as the Higgs boson, has died.
Higgs, 94, who was awarded the Nobel prize for physics in 2013 for his work in 1964 showing how the boson helped bind the universe together by giving particles their mass, died at home in Edinburgh on Monday 8th April 2024
After a series of experiments, which began in earnest in 2008, his theory was proven by physicists working at the Large Hadron Collider at Cern in Switzerland in 2012; the Nobel prize was shared with François Englert, a Belgian theoretical physicist whose work in 1964 also contributed directly to the discovery.
A member of the Royal Society and a Companion of Honour, Higgs spent the bulk of his professional life at Edinburgh University, which set up the Higgs Centre for Theoretical Physics in his honour in 2012.
Prof Peter Mathieson, the university’s principal, said: “Peter Higgs was a remarkable individual – a truly gifted scientist whose vision and imagination have enriched our knowledge of the world that surrounds us.
“His pioneering work has motivated thousands of scientists, and his legacy will continue to inspire many more for generations to come.”
Prof Fabiola Gianotti, the director general at Cern and former leader of the Atlas experiment, which helped discover the Higgs particle in 2012, said: “Besides his outstanding contributions to particle physics, Peter was a very special person, a man of rare modesty, a great teacher and someone who explained physics in a very simple and profound way.
“An important piece of Cern’s history and accomplishments is linked to him. I am very saddened, and I will miss him sorely.”
The evening before the discovery of the particle was announced, Peter was invited to a small celebration at the home of John Ellis, the former head of theory at Cern. “A giant of particle physics has left us,” Ellis told the Guardian. “Without his theory, atoms could not exist and radioactivity would be a force as strong as electricity and magnetism.
“His prediction of the existence of the particle that bears his name was a deep insight, and its discovery at Cern in 2012 was a crowning moment that confirmed his understanding of the way the Universe works.”
Jon Butterworth, a member of the Atlas collaboration, said Higgs was “a hero to the particle physics community”.
“Even though he didn’t much enjoy it, he felt a responsibility to use the public profile his achievements brought him for the good of science, and he did so many times. The particle that carries his name is perhaps the single most stunning example of how seemingly abstract mathematical ideas can make predictions which turn out to have huge physical consequences.”
The Royal Swedish Academy of Sciences, which awards the Nobel, said at the time the standard model of physics which underpins the scientific understanding of the universe “rests on the existence of a special kind of particle: the Higgs particle. This particle originates from an invisible field that fills up all space.
“Even when the universe seems empty this field is there. Without it, we would not exist, because it is from contact with the field that particles acquire mass. The theory proposed by Englert and Higgs describes this process.”
An immensely shy man who disliked the fuss, Higgs had left home for a quiet lunch of soup and trout in Leith on the day of the announcement, to be stopped by a former neighbour who gave him the news on his way home.
Born in Newcastle upon Tyne, Higgs leaves two sons, Chris and Jonny, his daughter-in-law Suzanne and two grandchildren. His wife, Jody, a linguistics lecturer from whom he was separated, died in 2008.