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zuppeur

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Here you go. Hope this one is better.
pKGai3Dl.jpg


Sent from Samsung SM-G955F using GAGT

the image not very clear. is it possible to upload the excel to mega or google doc
 

REDWOODS

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Hi BBCWatcher,

My mum has 3000 AusNet Services shares which was de-listed from SGX in July this year. She missed the deadline to participate in the Share Sale Facility and the shares were being transferred to Australian register thereafter.

We have since received the holding statement from Computershare and the securityholder reference number to use in relation to future activity on ASX.

My mum would like to sell to liquidate all her AusNet Services shares. And I am at a loss on how to help her.

How do I go about assisting her to sell in most cost efficient (brokerage commissions, taxes etc) and hassle-free way?

Many thanks in advance!
 

BBCWatcher

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My mum has 3000 AusNet Services shares which was de-listed from SGX in July this year. She missed the deadline to participate in the Share Sale Facility and the shares were being transferred to Australian register thereafter.

We have since received the holding statement from Computershare and the securityholder reference number to use in relation to future activity on ASX.

My mum would like to sell to liquidate all her AusNet Services shares. And I am at a loss on how to help her.

How do I go about assisting her to sell in most cost efficient (brokerage commissions, taxes etc) and hassle-free way?
One choice she has is to direct Computershare Australia to sell the shares. Details are available here.

But it's expensive! Computershare would charge AUD110 as a commission, plus there'd be some sort of currency conversion and fund transfer charge assuming the funds are landed back in Singapore as Singapore dollars. (That could be slightly reduced using a Singapore dollar bank account in Singapore that does not charge for incoming telegraphic transfers. CIMB, BOC, ICBC, and Citibank are among the banks in Singapore that do not charge for incoming telegraphic transfers.) I have to imagine all that would add up to about AUD200 -- yuck!

Another possibility is to allow a brokerage, such as Interactive Brokers, to manage these shares. So sales responsibility for these shares would be transferred from Computershare Australia to IB. Then use IB to sell the shares, convert Australian dollars to Singapore dollars, and remit the Singapore dollars back into Singapore. That should cost a lot less, but it's more complicated. Assuming fixed (not tiered) pricing, it looks like IB would charge AUD6 to execute the trade and then just a couple dollars for the currency conversion. I'd estimate something like AUD10 total, assuming there's no charge for the transfer -- something to check. (I know Computershare U.S. doesn't charge for outbound share transfers to a broker, but I'm not sure about Computershare Australia.) There's no minimum monthly activity fee at IB for the first 3 months, but the account would have to be closed if otherwise not used, in order to avoid minimum fees thereafter.

Is it worth enlisting IB to save about AUD190? I think so, and I think it's worth trying, but YMMV.

In the above discussion I'm assuming 3,000 shares at a price of approximately AUD1.60 per share, i.e. approximately AUD4,800 worth of shares in AusNet Services.
 
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highsulphur

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Hi BBCW

Can you help me? I bought some shares on LSE decades ago when I was a student in the UK. The company was taken over by investec plc and I received a share certificate. Since it's a scrip shares and I'm now currently back in Singapore, do you know any way I can sell those shares?

It isn't a lot (around 600 Gbp) but can buy me a nice bottle of whisky
 

matcha18

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Hi BBCW,

I recently sold some US stocks and have about USD70K sitting in TD Ameritrade. I also have a trading account with SCB. Would it be better if I top up my OA/SA instead? I am in my early 50s and have very low balance in my OA/SA. Or do you recommend US or SG etf?

Thanks.
 

BBCWatcher

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Highsulphur, if you have a U.K. based sterling bank account, then you should be able to open an account at SVS XO since they evidently accept non-U.K. resident customers who can pass basic verification. They can accept your paper share certificate for deposit, and after a few days (to clear it) it'll be available for electronic sale for a flat commission of £7.95. There's no charge to process the certificate deposit, except for ordinary postage to get it to them.

The proceeds from the share sale can then be transferred free to your U.K. bank account via BACS (analogous to GIRO in Singapore). You can keep your SVS XO account open if you wish since there's no minimum fee.

Enjoy the whiskey. ;)
 

BBCWatcher

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I recently sold some US stocks and have about USD70K sitting in TD Ameritrade. I also have a trading account with SCB. Would it be better if I top up my OA/SA instead? I am in my early 50s and have very low balance in my OA/SA.
Yes, I would give your CPF Special Account some love and attention, and your spouse's/partner's too, if applicable and also low. You can do that in at least two ways:

(a) A cash top-up, with tax relief if you qualify. If you're going to do that this month, then try to do it on or before September 24, to allow enough time for proper crediting into your CPF Special Account before the end of the month and thus to start earning interest on that top-up from October 1.

(b) Transferring OA funds to SA.

If that US$70K is your only or primary source of funds for a CPF top-up, sure, that seems like a good idea to me. Do you have a low cost way to get those funds converted to Singapore dollars and transferred to Singapore?
 

highsulphur

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Highsulphur, if you have a U.K. based sterling bank account, then you should be able to open an account atSVS XO

The proceeds from the share sale can then be transferred free to your U.K. bank account via BACS (analogous to GIRO in Singapore). You can keep your SVS XO account open if you wish since there's no minimum fee.

Enjoy the whiskey.
;)

Funny thing is that I just chatted with them and they said they don't accept scrip shares from their clients. Perhaps they misunderstood me
 

BBCWatcher

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Not sure what to do with the FDs, pls advise.
Presumably you'd let them mature, then figure out what to do with the proceeds. When does the first one mature, and how big is it?

I am not sure if TD has a local bank account? Do you have any advice pls?
If I understand correctly, you have US$70K of cash sitting at TD Ameritrade in the United States. Do you have any other U.S. financial accounts, such as a U.S. bank or U.S. credit union account?

Conventionally, you could direct TD Ameritrade to wire your U.S. dollars to your Singapore dollar bank account in Singapore. The costs would include:

TD Ameritrade's wire transfer fee: US$25
The awful exchange rate your bank will charge: 1%?
Incoming telegraphic transfer charge: S$10

Obviously that's expensive and best avoided. But the availability of other choices could depend on what financial "footprint" you have in the United States.
 
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BBCWatcher

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For those of you non-U.S. persons buying (or interested in buying) the popular Blackrock iShares global developed markets stock index fund IWDA, domiciled in Ireland and traded in London, have you looked at Lyxor's equivalent fund LCWD, also quoted/listed in U.S. dollars? LCWD (and its British pound currency sibling LCWL) debuted in February, 2018. LCWD/LCWL is domiciled in Luxembourg which appears to offer the same tax characteristics as Ireland. It's also traded in London, also tracks the same MSCI index, also accumulating, but its major appeal is that it has a much lower 0.12% total expense ratio versus IWDA's 0.20%.

How's the bid-ask spread and trading volume looking? Could LCWD or LCWL offer some better value than IWDA?
 

Listopad

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For those of you non-U.S. persons buying (or interested in buying) the popular Blackrock iShares global developed markets stock index fund IWDA, domiciled in Ireland and traded in London, have you looked at Lyxor's equivalent fund LCWD, also quoted/listed in U.S. dollars? LCWD (and its British pound currency sibling LCWL) debuted in February, 2018. LCWD/LCWL is domiciled in Luxembourg which appears to offer the same tax characteristics as Ireland. It's also traded in London, also tracks the same MSCI index, also accumulating, but its major appeal is that it has a much lower 0.12% total expense ratio versus IWDA's 0.20%.

How's the bid-ask spread and trading volume looking? Could LCWD or LCWL offer some better value than IWDA?

oh, thanks for the heads up!
 
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BBCWatcher

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Answering my own question, LCWD/LCWL look like they have too little volume so far. :( I also checked Paris and Frankfurt, and the volumes there are low, too.

VEVE, Vanguard's non-accumulating global developed markets stock index fund, looks a little better in terms of volume, and it has a 0.18% expense ratio. But I'd definitely like to see more volume.

Supposedly Fidelity introduced some low cost Irish domiciled ETFs, but I cannot find them listed yet. They were announced in April.
 

BBCWatcher

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Recent Minor Adjustments

I've been running the same basic savings/investing "program" for many, many years. Hopefully that'll continue for many years to come. However, I have made a couple minor tweaks to keep the program running according to plan:

1. Broker adjustment. For U.S. persons, Fidelity is currently winning the fund price war with their radically awesome FZROX and FZILX mutual funds. FZROX and FZILX have zero management fees, zero trading fees, zero custody fees, $1 minimum to open, $1 increment, zero cost automatic dividend reinvesting.... zero across the board. That works great for me, so Fidelity is getting the bulk of my monthly savings inflow.

I'm holding all current positions at Schwab for the long-term, and Vanguard is still getting a good portion of monthly inflow.

2. Funding account adjustment. U.S. interest rates have been rising, and that has resulted in some selectively better interest rate offers from U.S. banks and U.S. credit unions. So I've slightly tweaked the funding account arrangement for monthly investments in order to get some better interest.

3. U.S./Ex-U.S. mix adjustment. As we all know, the U.S. stock markets have been on an incredible run since the depths of the Global Financial Crisis nearly 10 years ago. Stock markets outside the United States have generally not done as well over that same period. I like to keep the U.S./ex-U.S. allocation within "reasonable equilibrium." Consequently I've made a little adjustment to the inflow, shifting some of the U.S. stock inflow over to the ex-U.S. stock inflow side. I'll keep an eye on how that goes over the next few months.

What next? "Do nothing" is perfectly fine, but here are some at-the-margin ideas I'm pondering:

a. Over the next few months I'm considering raising my monthly savings amount. When I think a new, higher monthly savings amount is long-term sustainable, I increase that inflow number.

b. A small percentage of my total stock holdings is in individual stocks, and I'm looking for reasonable opportunities to sell some of those individual stocks in favor of broader funds.

c. Supplementary Retirement Scheme (SRS) accounts are not terrific for U.S. persons, but I'm taking another look at whether I should get more interested in SRS.
 

REDWOODS

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Hi BBCWatcher,

I did a discussion with my mum on the available options and cost. She is leaning towards selling via Computershare Australia though it comes with a much higher fee. It seem like the most direct and simple solution to her.

Thanks for your suggestions and help in this forum!
 

bobobob

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Answering my own question, LCWD/LCWL look like they have too little volume so far. :( I also checked Paris and Frankfurt, and the volumes there are low, too.

VEVE, Vanguard's non-accumulating global developed markets stock index fund, looks a little better in terms of volume, and it has a 0.18% expense ratio. But I'd definitely like to see more volume.

Supposedly Fidelity introduced some low cost Irish domiciled ETFs, but I cannot find them listed yet. They were announced in April.

Isn't there a market maker that will provide liquidity for the lyxor funds?
 

BBCWatcher

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Bid-ask spread is like 33 bp for LCWD vs 3bp for IWDA...
So is the current 8 basis points/year ongoing management charge savings worth the wider bid-ask spread? Probably, but I’d still feel more comfortable seeing some better trading volume.
 

Listopad

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I've been running the same basic savings/investing "program" for many, many years. Hopefully that'll continue for many years to come. However, I have made a couple minor tweaks to keep the program running according to plan:

1. Broker adjustment. For U.S. persons, Fidelity is currently winning the fund price war with their radically awesome FZROX and FZILX mutual funds. FZROX and FZILX have zero management fees, zero trading fees, zero custody fees, $1 minimum to open, $1 increment, zero cost automatic dividend reinvesting.... zero across the board. That works great for me, so Fidelity is getting the bulk of my monthly savings inflow.

I'm holding all current positions at Schwab for the long-term, and Vanguard is still getting a good portion of monthly inflow.

2. Funding account adjustment. U.S. interest rates have been rising, and that has resulted in some selectively better interest rate offers from U.S. banks and U.S. credit unions. So I've slightly tweaked the funding account arrangement for monthly investments in order to get some better interest.

3. U.S./Ex-U.S. mix adjustment. As we all know, the U.S. stock markets have been on an incredible run since the depths of the Global Financial Crisis nearly 10 years ago. Stock markets outside the United States have generally not done as well over that same period. I like to keep the U.S./ex-U.S. allocation within "reasonable equilibrium." Consequently I've made a little adjustment to the inflow, shifting some of the U.S. stock inflow over to the ex-U.S. stock inflow side. I'll keep an eye on how that goes over the next few months.

What next? "Do nothing" is perfectly fine, but here are some at-the-margin ideas I'm pondering:

a. Over the next few months I'm considering raising my monthly savings amount. When I think a new, higher monthly savings amount is long-term sustainable, I increase that inflow number.

b. A small percentage of my total stock holdings is in individual stocks, and I'm looking for reasonable opportunities to sell some of those individual stocks in favor of broader funds.

c. Supplementary Retirement Scheme (SRS) accounts are not terrific for U.S. persons, but I'm taking another look at whether I should get more interested in SRS.
What you mean by raising monthly savings amount ? Do you mean increasing cash savings or u meant saving more of ur disposable income , & vest in the markets ?
 

BBCWatcher

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What you mean by raising monthly savings amount ? Do you mean increasing cash savings or u meant saving more of ur disposable income , & vest in the markets ?
I have the happy problem of cash that’s piling up a little too quickly, so I’m considering whether I should adjust the “flow valve” such that I’m investing $X more per month within the same long running program.
 
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