PHE

dingg

Adam

Re "Equity is pretty much in line with Fundsmith. It's always been highly correlated."

My decision is already made

But what Fundsmith ate you using as a comparator?

According to google fundsmith equity has given a 0.8% return over the last 12 months

According to my spread sheet phe is down a whopping 26.6% over the same time frame.

Either your using a different comparison, my spreadsheets buggered or something else is awry.

Tia

G

Adam Kay

Grant,

I wasn't attempting to persuade you one way or the other. It's your choice, as always. And yes your figures are wrong. Perhaps your excel file hasn't taken into account the withdrawals you have made

dingg

Afternoon Adam
Thanks for the clarification, you nailed it, I forgot to subtract my annual withdrawal, wot a muppet, too many beers last night.

Ps I know you weren't trying to persuade me one way or the other, it's outside your remit.

Cheers again and enjoy your weekend

Ronski

@dingg said in PHE:

According to my spread sheet phe is down a whopping 26.6% over the same time frame.

I see you've found the answer, I did ask my brother and he said

Oh dear.... -4.81% 17-Oct-24 to 17-Oct-25

dingg

Cheers Ronski

That's saved taxing what little of the grey matter I have left

Adam Kay

Netflix split their stock 10:1 last week. The custodian processed the changes 2 days later so if you are looking at the graph you will see a sharp drop and rebound due to the timing.

Ronski

That explains why my £12 something dropped down to £11 something, then went back up again.

Tresco

Any thoughts if it's worth soldiering on with PHE which is my worst performer over 5 years across a number of funds, I note Nik mentioned last year it was to be looked at. I understand it's 'buy and hold' but a low cost tracker would have produced significantly better returns.

Jason Knowles

If your not happy with it change it, I've got little money in the defensive fund which I think is relatively low risk and has paid about 8% in 2025 which I'm happy with as a low risk option.

2BToo

As Jason said, moving is always an option. I had about half my funds in PHE but have moved most of that out over the last year or so.

I'd be interested to see how it goes in the future but I think it's not for me at the moment.

Adam Kay

Anyone who holds a portfolio and has questions can contact either myself and or Nik. Many have. Discussions around suitability are very individual specific due to goals, age, risk appetite and time to retirement/time to draw down.