Tuesday, 20 September 2016

Tedious portfolio maintenance

I'm having to close my UK brokerage account and open one in Norway.  I've taken the opportunity to clear the decks:

  • I'm transferring my Berkshire Hathaway and Natwest Preference shares to the new account - happy to continue holding those.
  • I've sold my IS15 corporate bond ETF - this was just somewhere to park my cash and make a small return while waiting for a better opportunity, but once my cash is in Norway I can offset it against my mortgage instead.
  • I've sold F W Thorpe.  It was a small investment, it's done well, but I think the shares are fairly priced and it's an OK time to sell.
I sold IS15 at £106.40 and TFW at £2.32.

The downside of having a brokerage in Norway is that it's much less efficient to invest in UK shares - there will be forex costs for each trade (and even for receiving dividends).  On the plus side I think it means my trades will be automatically reported to the taxman, so it will save me a lot of tedious form-filling at the end of each year.  As a result I may start trading a little more frequently again.

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