Incidentally, I get a statement from my bank here which contains all the preparation for the tax returns. I simply have to include it with my tax return and transcribe 2 or 3 figures from it.
In the past, that has been accepted by the tax authorities here without amendment. But, I've just has a mail from them regarding the 2016 tax return, amending the values for 2 accumulating funds with what looks like an assumed 2.5% distribution, which makes these look rather expensive now. They quoted valuations from the above web site.
Yet another question. Has anyone tried to claim the management fees? IIRC, Fundsmith charges about 1% management fees. Arguably, you could deduct 1%... (ditto for OCF)
It was significantly lower at around $152 & he was not bothered at all, the profits are real & growing at a staggering rate. I don't think he will loose any sleep.
Facebook generated $13.2bn in revenue in one quarter – a 42% increase over the same quarter a year before. Facebook also reported a 31% jump in profits over the same quarter last year. The shares fell 20%, remember in the short term the market is a voting machine in the long term its a weighing machine. If it falls further this could be a once in 5 year opportunity as Apple was when it fell out of favour.
i'm torn on FB, in the long term there's a lot going for it (they have barely started to monetize messenger or IG) but this drop was the drop I was waiting for almost a year ago. i suspect another drop next Q if the slowdown in users/revenue is shown to be real and not just a blip.
I'm glad it's a trust rather than a fund. Much more flexible and potentially cheaper (0.9% total by the look of it). Will keep my eye on it. Bear in mind the premium/discount to NAV factor when looking at closed-end trusts.
There's also Finsbury Growth & Income Trust (FGT.L) which has a similar strategy to Fundsmith Equity and in trust format.