The Legal and General Global Technology Index Fund is a Unit Trust. The objective of the Fund is to provide growth by tracking the performance of the FTSE World -Technology Index (the “Index”). This objective is after the deduction of charges and taxation.
£967.2m of Technology assets.
Top 10 holdings (%)
Apple Inc 16.5% of the fund
Microsoft Corp 13.4% of the fund
Facebook 4.6% of the fund
Alphabet Cl A 4.1% of the fund
Alphabet Cl C 4.1% of the fund
Taiwan Semiconductor Manufacturing 3.4% of the fund
Nvidia Corp 3.0% of the fund
Adobe Inc 2.2% of the fund
Samsung Electronics Co Ltd 2.2% of the fund
Intel Corp 2.1% of the fund
The graph below shows its growth:-
The Polar Capital Technology Investment Trust plc is a London listed investment trust.
£2,972.87m is it market capitalisation
Its top 15 holdings (%)
Apple 9.3% of the trust
Microsoft 8.2% of the trust
Alphabet 6.3% of the trust
Facebook 5.0% of the trust
Alibaba 4.0% of the trust
Tencent 3.8% of the trust
Samsung 2.8% of the trust
Amazon.com 2.6% of the trust
Taiwan Semiconductors 2.6% of the trust
Adobe Systems 2.2% of the trust
NVIDIA 2.0% of the trust
Advanced Micro Devices 1.8% of the trust
Salesforce.com 1.7% of the trust
Netflix 1.4% of the trust
Qualcomm 1.3% of the trust
The graph below shows its growth:-
Their is news in the media, that Sainsbury’s Bank (part of the Sainsbury’s supermaket group) is to be sold to National Westminister Group.
Some figures from the Sainsbury’s annual report
Customer deposits of £6300 million.
Customer lending £7400 million
The Legal & General Japan Index Trust in an Index Fund managed by Legal and General.
A £1,321.9m fund. The objective of the Fund is to provide growth by tracking the capital performance of the FTSE Japan Index
Its top ten holdings are:
Toyota Motor Corp 4.2% of the fund
Sony Corp 2.4% of the fund
Softbank Group Corp 2.3% of the fund
Keyence Corp 2.2% of the fund
Nintendo 1.6% of the fund
Daiichi Sankyo Co Ltd 1.5% of the fund
Takeda Pharmaceutical Co Ltd 1.4% of the fund
Shin-Etsu Chemical Co Ltd 1.3% of the fund
Mitsubishi UFJ Financial Group 1.3% of the fund
Recruit Holdings Co Ltd 1.3% of the fund
It invests across 10 sectors:
Industrials 24.0% of the fund
Consumer Goods 22.7% of the fund
Health Care 11.6% of the fund
Financials 11.2% of the fund
Consumer Services 9.9% of the fund
Technology 6.8% of the fund
Telecommunications 6.2% of the fund
Basic Materials 5.5% of the fund
Utilities 1.5% of the fund
Oil & Gas 0.6% 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 Covid 19 world. UK’s HM Government needs to fund many new demands. [www.dmo.gov.uk]
Another deficit month, thus to bridge the gap, needs to borrow on the bond market In October 2020 , 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” 15 auctions of Gilts (UK Government Bonds) by the UK Debt Management Office to raise cash for HM Treasury:-
28-Oct-2020 0 3/8% Treasury Gilt £3,084.9990 Million
27-Oct-2020 0 1/8% Treasury Gilt 2024 £3,510.7420 Million
27-Oct-2020 1 5/8% Treasury Gilt 2071 £1,249.9990 Million
22-Oct-2020 0 5/8% Treasury Gilt 2035 £2,632.0000 Million
22-Oct-2020 0 5/8% Treasury Gilt 2050 £1,986.8750 Million
20-Oct-2020 1¼% Index-linked Treasury Gilt 2032 3 months £697.0490 Million
14-Oct-2020 0 7/8% Treasury Gilt 2029 £3,125.0000 Million
13-Oct-2020 0 1/8% Treasury Gilt 2026 £3,000.0000 Million
13-Oct-2020 1¾% Treasury Gilt 2057 £1,562.4990 Million
07-Oct-2020 0 3/8% Treasury Gilt 2030 £2,500.0000 Million
07-Oct-2020 0 1/8% Index-linked Treasury Gilt 2041 3 months £884.1490 Million
06-Oct-2020 0 1/8% Treasury Gilt 2024 £3,518.4520 Million
06-Oct-2020 1¾% Treasury Gilt 2049 £2,000.0000 Million
01-Oct-2020 0 1/8% Treasury Gilt 2023 £3,250.0000 Million
01-Oct-2020 1¼ % Treasury Gilt 2041 £2,000.0000 Million
(£3,084.9990 Million + £3,510.7420 Million + £1,249.9990 Million + £2,632.0000 Million + £1,986.8750 Million + £697.0490 Million + £3,125.0000 Million + £3,000.0000 Million + £1,562.4990 Million + £2,500.0000 Million + £884.1490 Million + £3,518.4520 Million + £2,000.0000 Million + £3,250.0000 Million + £2,000.0000 Million) = £35,001.764 Million
£35,001.764 Million = £35 Billion
On another way of looking at it, is in the 31 days in October 2020, HM Government borrowed:- £1129.089161 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 bond mature from 2023 through to 2071. All long term borrowings, we are mortgaging our futures, but at least “We Are In It Together….”
BATG is a London Listed Exchange Traded Fund (ETF)
The graph speaks volumes.
Over 900p a share.
On Thursday 5th November, The Bank of England, extended its QE programme by an additional £150bn.
” The Committee voted unanimously for the Bank of England to continue with the existing programme of £100 billion of UK government bond purchases, financed by the issuance of central bank reserves, and also for the Bank of England to increase the target stock of purchased UK government bonds by an additional £150 billion, financed by the issuance of central bank reserves, to take the total stock of government bond purchases to £875 billion. “
Since the start of the financial crisis that began in 2008, the UK Central Bank, has created £875 billion of new money.
Now the QW programme was at £435bn in June 2016, and since Covid has jumped. It went up by £200bn when Covid19 hit in March.
and now jumped again:-
Inflation is taxation without legislation. Milton Friedman