Hi @Swamp_Cat, Well it’s fair to say that I agonised quite a bit over the pref purchases having lost a large sum of money there back in March due to the Aviva redemption threat. I monitor 13 pref prices each day so that I can maintain my old pref portfolio spreadsheet for comparison with my current one. Current one is about £10,000 ahead right now which says I did the right think bailing out.
If interest rates rise then pref prices are likely to fall some more. But at ~115 I can’t see these going below 10x (a fall equal to about one years worth of dividends). None of these companies are in trouble as far as I know so I don’t see their prefs trading below par.
And of course at these levels the redemption at par threat isn’t too much of a problem !. A bit different to when some were trading at 175…
Well I’ve done it now anyway, just have to see how it works out. But only about ~15% of my portfolio this time. Not 80%+ as I was in March.