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Asking generally (i.e others on here and not just Nik/Adam); what are people's views on PHE? It is indeed quite a drag on the portfolio at the moment and it forms a fair chunk of what I have.
I'm seriously wondering whether to move some things out of PHE into something else (of course this then throws up the question of where to move it to). What are other people's views?
Asking generally (i.e others on here and not just Nik/Adam); what are people's views on PHE? It is indeed quite a drag on the portfolio at the moment and it forms a fair chunk of what I have.
I'm seriously wondering whether to move some things out of PHE into something else (of course this then throws up the question of where to move it to). What are other people's views?
Another random internet bloke here so don't look for anything deep and meaningful. However, PHE was my first venture into buy and hold shares / funds when I first started investing with IM. Up until then it had just been general tracker "funds" or very specific shares that I was personally interested in and happy to dabble with. I found it quite exciting and interesting to keep an eye on the various shares. I put my full SIPP pension into it and I think I did quite well with it at the time.
PHR was the eye opener for me when I could see that folk who knew what they were doing (ie not me) could more actively spot things that were likely to do well over a specific or variable period of time and if I held on to their coat tails and tried to learn a bit about what and why I could do ok as well. Not too long after PHT began I moved everything out of PHE and the other Global funds and into PHT / IML. Again, I think I've done ok out of that but the rational for it was, after chatting things through, that I was fairly comfortable with the risk/reward/volatility side of things and was ok with a medium/longer term outlook. Clearly I'm now hanging off Adam (and others) coat tails but for now that's not an uncomfortable feeling.
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Just to add my couple of pennies worth :
PHE has a "buy and hold" mandate with a view to hold mega cap, established business that show solid fundamentals in an established business model and so should offer solid returns over a longer period. i.e. it is a "steady ship" over a longer term. It has suffered hits with economic uncertainty in recent times but is likely to ride this out. This is what the buy and hold mandate provides for.
PHT by contrast seeks growth in developing sectors. The original mandate was not for a Tech portfolio but for a portfolio that actively seeks growth, it was felt that the Tech sector was the place we thought this would happen and so PHT was launched.
It takes a more managed position, so we take a position if we see an opportunity, then trade out and replace if we either got it wrong, feel it has topped out or see a better deal, it is a different beast to PHE. i.e. it is more actively managedThe broader review of PHE will likely be at mandate level to decide if more active management should be considered and given the changes that the Tech sector in particular had brought to markets do we look at the type of companies we would look to hold rather than trade. In recent times additions to PHE would have probably come from a similar pool to the Tech holdings and created some duplication of holdings
More will follow on PHE plans later in the year
@Nik-Burrows said in PHE:
ed out or see a better deal, it is a different beast to PHE. i.e. it is more actively managed
The broader review of PHE will likely be at mandate level to decide if more active management should be considered and given the changes that the Tech sector in particular had brought to markets do we look at the type of companies we would look to hold rather than trade. In recent times additions to PHE would have probably come from a similar pool to the Tech holdings and created some duplication of holdings
More will follow on PHE plans later in the year
Just a bump for this comment from Nik, as I still have a chunk in PHE, and am interested in plans for a more active/interventionist management. Still significantly up over time, but I can't help comparing with performance of the much larger chunk in PHT... I appreciate the different strategies involved in the two.
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FWIW, I took a fair chunk out of my PHE holding this week and divided it between PHT and IML.
@2BToo Snap
