New City High Yield Fund (NCYF)

[richfool]

Haha, yes.

I don't disagree that inflation is going to return. Govts will want it to return to deflate their debts.

And this will depress the prices of FI. But I think Trusts are in a better position than the average private investor to manage this situation. It's not as if we never had inflationary periods before.
So having bought in to NCFY - and Shires SHRS which is another FI play - I'm going to sit tight, or even add.
V8

HDIV seems to be in the same position as NCYF was after the John Baron article.

My guess is the discount will tighten again with HDIV.

John Barons rationale for the selling of NYCF. Nothing very surprising.
" However, during the quarter, the portfolios added more specific insurance by way of INXG – an ETF given there is no investment trust equivalent – courtesy of a reduction in exposure to HDIV and NCYF. Bonds tend not to do well as inflation rises. During the early inflationary stage, higher-yielding corporate bonds can offer better protection than gilts. However, inflation-linked bonds have traditionally acted as a good inflation hedge, regardless of the stage of inflation."

88V8's comment: "I don't disagree that inflation is going to return. Govts will want it to return to deflate their debts.", is very pertinent to me.

I noted that John Baron sold HDIV and NCYF in his April report this year and then bought NCYF in his July report.

see also: viewtopic.php?f=54&t=28856&p=435339#p435339

[jonesa1]

I noted that John Baron sold HDIV and NCYF in his April report this year and then bought NCYF in his July report.

see also: viewtopic.php?f=54&t=28856&p=435339#p435339

So sold just before the SP increased and bought as it peaked? Market timing at its best

[monabri]

https://www.investegate.co.uk/cqs-new-c ... 06130062Z/

"CQS New City High Yield Fund Limited ("the Company")

Second Interim Dividend Declaration

The Company announces its second interim dividend of 1 pence per share (2021 - 1 pence) payable on 25 February 2022 to shareholders on the register on 28 January 2022, having an ex-dividend date of 27 January 2022."

[richfool]

For those following NCYF, I note the SP is currently 53.20p to buy, 52.60p to sell. Not much change from early 2021. Currently at a premium of c4.95%.

[richfool]

Would a good time to buy NCYF be when the BOE next increases interest rates, in November? I assume there will still be at least one further rate rise after that. Current SP: 50p. Yield: 9.07% Disc: 0.28%

https://www.hl.co.uk/shares/shares-sear ... td-ord-npv

[88V8]

Would a good time to buy NCYF be when the BOE next increases interest rates, in November? I assume there will still be at least one further rate rise after that. Current SP: 50p. Yield: 9.07% Disc: 0.28%

I would have said so, but now they're up a few pence...
Perhaps one should be content with the yield on offer, rather than sit waiting for something better while the train steams out of the station.

I am full with NCYF, but I am sitting here in cash and in hope awaiting other falls....

Yours foolishly
V8

[richfool]

Would a good time to buy NCYF be when the BOE next increases interest rates, in November? I assume there will still be at least one further rate rise after that. Current SP: 50p. Yield: 9.07% Disc: 0.28%

I would have said so, but now they're up a few pence...
Perhaps one should be content with the yield on offer, rather than sit waiting for something better while the train steams out of the station.

I am full with NCYF, but I am sitting here in cash and in hope awaiting other falls....

Yours foolishly
V8

In view of Jeremy's plans/input, I bought some (small helpings) of NCYF and SMIF first thing this morning. I'll then wait and see what happens end of October/early November, as to whether to top up or let sleeping dogs lay.

Yours, boldly!
RF

[flyer61]

Bought last week at under 49p. If it goes back to a 6 or 7% premium I will sell and go back into waiting mode. Have done this for a few years now and it has always worked...until it doesn't! I have never understood the premium....you should really only buy it at a discount given the underlying assets.

[monabri]

https://www.investegate.co.uk/cqs-new-c ... 49344515D/

"First Interim Dividend Declaration
The Company announces its first interim dividend of 1 pence per share (2021 - 1 pence) payable on 25 November 2022 to shareholders on the register on 28 October 2022, having an ex-dividend date of 27 October 2022."

[richfool]

I just came across this thread on NCYF from a year or two back. It makes interesting reading and currently is quite topical. Current yield: 9.3%. Dividend still 1p.

If any Mods are watching, it might be a good a good idea to amend the title of the thread to read: New City High Yield Fund (NCYF).

[88V8]

I just came across this thread on NCYF from a year or two back. It makes interesting reading and currently is quite topical. Current yield: 9.3%. Dividend still 1p.

The basic divi has been 1p since 2018. Only the final shows a glacial increase.
Yield rises and falls with the SP, but whatever income you buy will stay pretty much the same.

V8 (I hold)

[richfool]

I just came across this thread on NCYF from a year or two back. It makes interesting reading and currently is quite topical. Current yield: 9.3%. Dividend still 1p.

The basic divi has been 1p since 2018. Only the final shows a glacial increase.
Yield rises and falls with the SP, but whatever income you buy will stay pretty much the same.

Yes, I too hold NCYF, a healthy yield currently.

V8 (I hold)

[daveh]

Dividend declaration 1p again:

https://www.investegate.co.uk/announcem ... on/7994389

Second Interim Dividend Declaration


The Company announces its second interim dividend of 1 pence per share (2023 - 1 pence) payable on 28 February 2024 to shareholders on the register on 26 February 2024, having an ex-dividend date of 25 January 2024.

I assume the Reg Date should be 26th January to go with the ex date of 25 January.

[monabri]

Dividend declaration 1p again:

https://www.investegate.co.uk/announcem ... on/7994389

Second Interim Dividend Declaration


The Company announces its second interim dividend of 1 pence per share (2023 - 1 pence) payable on 28 February 2024 to shareholders on the register on 26 February 2024, having an ex-dividend date of 25 January 2024.

I assume the Reg Date should be 26th January to go with the ex date of 25 January.

Doh. A lack of checking! Mistakes like that worry me...maybe they've got the intern on the job?

[daveh]

They noticed and issued a replacement RNS at the end of the afternoon yesterday.

[Jam2Day]

They noticed and issued a replacement RNS at the end of the afternoon yesterday.

Indeed. Not sure who issues/checks the statements but they need to brush up on the details and the grammar. In correcting the dates they slipped in the popular social media colloquialism of 'should of' instead of 'should have'. It should not make any difference to the fund management but it does not look great and does beg a few questions, innit...