The Lemon Fool

FYI, this is available on IBKR. I've bought myself some as you all seem to want to but cant, which must be a good sign!...

I bought some using IBKR but the liquidity is almost non-existent. It took a week for my order to execute. I am a USA tax resident and bought it in my Roth IRA because of the tax treatments that PFICs get here.

What is IBKR?

Dod

joey wrote:

Dod101 wrote:What is IBKR?

Dod

Interactive Brokers. It’s very trader oriented. As in, professional traders for institutions. But us plebs are able to get an account too.

Thanks joey.

Dod

Update:

Baillie Gifford’s Schiehallion targets $500m plus raise but retail investors still barred

[Quote]
"The Baillie Gifford private equity trust is pursuing its first share raise since launch two years ago, although DIY investors will remain barred by a $5m minimum subscription.

Sciehallion (MNTN ), the Baillie Gifford investment company dedicated to backing fast-growing businesses before they list, is pursuing its first major share raise since launch two years ago, although self-directed private investors will remain barred by a $5m minimum subscription.

The Guernsey-based but London-listed closed-end fund, which is dollar-denominated, is targeting a $500m (£365m) raise through a C-share issue next month. The fund continues to be aimed at institutional investors, with the shareholder register currently dominated by North American pension funds."
[End Quote]

Dod101 wrote:

joey wrote:

Dod101 wrote:What is IBKR?

Dod

Interactive Brokers. It’s very trader oriented. As in, professional traders for institutions. But us plebs are able to get an account too.

Thanks joey.

Dod

Even if you never wanted one! I have an IBKR account as a result of the closure of SVS Securities by the FCA and the subsequent transfer of assets to the absolutely dreadful, useless, frustrating ITI Crapital Ltd. The IBKR platform is a horrible trading platform in terms of buying/selling but I do like the handling & visibility of accrued dividends and the amount of information available from the "reports" that one can run.

With ITI, we have been given the "Noddy" trading platform (which is still too complicated) but I've also seen the other versions of Interactive Brokers trading platform which - frankly - are not user friendly. So, I will stick with iWeb and interactive investor as I can see what is going on when buying and selling shares.

I bought it (the Ords, not the C issue) through X-O.co.uk i.e. Jarvis.

Similar to as discussed above – had to complete the Appropriateness Assessment (needed to email this to them… As with most things X-O it is not particularly straightforward or intuitive).

Once that hurdle was cleared it was just the same as dealing a regular share. Quote, price in sterling, go ahead, done, contract note in inbox.

sinterklaas wrote:I bought it (the Ords, not the C issue) through X-O.co.uk i.e. Jarvis.

Similar to as discussed above – had to complete the Appropriateness Assessment (needed to email this to them… As with most things X-O it is not particularly straightforward or intuitive).

Once that hurdle was cleared it was just the same as dealing a regular share. Quote, price in sterling, go ahead, done, contract note in inbox.

I was going to ask you whether you have checked if there is liquidity if you want to sell but I see someone has commented since your post that there are some days when there are no trades at all. Another reason for me to keep clear of it and I suppose that there is probably a big bid/offer spread?

I cannot see the point in a retail investor getting involved with it.

Dod

Dod101 wrote:

sinterklaas wrote:I bought it (the Ords, not the C issue) through X-O.co.uk i.e. Jarvis.

Similar to as discussed above – had to complete the Appropriateness Assessment (needed to email this to them… As with most things X-O it is not particularly straightforward or intuitive).

Once that hurdle was cleared it was just the same as dealing a regular share. Quote, price in sterling, go ahead, done, contract note in inbox.

I was going to ask you whether you have checked if there is liquidity if you want to sell but I see someone has commented since your post that there are some days when there are no trades at all. Another reason for me to keep clear of it and I suppose that there is probably a big bid/offer spread?

I cannot see the point in a retail investor getting involved with it.

Dod

$1.76/$1.84 spread according to Hargreaves.....and a 22% premium on N.A.V.!

monabri wrote:

Dod101 wrote:

sinterklaas wrote:I bought it (the Ords, not the C issue) through X-O.co.uk i.e. Jarvis.

Similar to as discussed above – had to complete the Appropriateness Assessment (needed to email this to them… As with most things X-O it is not particularly straightforward or intuitive).

Once that hurdle was cleared it was just the same as dealing a regular share. Quote, price in sterling, go ahead, done, contract note in inbox.

I was going to ask you whether you have checked if there is liquidity if you want to sell but I see someone has commented since your post that there are some days when there are no trades at all. Another reason for me to keep clear of it and I suppose that there is probably a big bid/offer spread?

I cannot see the point in a retail investor getting involved with it.

Dod

$1.76/$1.84 spread according to Hargreaves.....and a 22% premium on N.A.V.!

Thanks. Yes confirms that it is not one for me.

Dod

I see Scottish Mortgage is down a bit today but I am very happy to continue holding it after my various sales last year.

Dod

I hold a small chunk of MNTN in my Interactive Brokers GIA, and it has done very nicely! Almost impossible to trade and the live price isn't quite 'right' because there are so few trades. To answer one of the queries above it is only traded in USD, there isn't a GBP version despite being a BG product, I guess USD denomination suited their target market...
If you want something with similar exposure that is more simple to access then Chrysalis is probably your best bet.

Monks IT gives a small amount of exposure (1.93%).