Sharesies-set up and Daily useage

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Forums › Finance and wealth management › Sharesies-set up and Daily useage

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#2527053 22-Jul-2020 12:31

mattwnz:
Personally I have only used it for buying some ETFs like the NZX top 50 , and drip feeding money in weekly into that, and just accumulating them, and plan to be in them long term. Haven't looked into individual shares.

I'm part of smart shares regular saving option.

Pay set amounts once per month and that used to buy units in 5 ETFs.

All dividend are paid in more units rather than money so bit like compounding interest except share units.

MurrayM

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#2573518 24-Sep-2020 14:08

psychrn:

Bought some shares last week in Blackwell Global Holdings at 00.38c. Today there were trading at 00.70c a share. Of course I wished i bought more then.

I see that five days after they hit $0.91 they plunged down to $0.20. Hope you sold them while they were up!

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#2573561 24-Sep-2020 15:29

Have had an open account for a few months now and never really got active with it until recently.

In much the same boat as OP, still getting used to operation and what things are. Liking it so far.

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#2573954 25-Sep-2020 08:52

I too have recently started. I put the money I got back from cashing in my bonus bonds into Sharesies and bought Smartshares NZ Top 50 Fund, Briscoes and Chorus. Liking it so far, it seems really easy to use, haven't got around to auto-investing but I'm thinking of setting it up to put in $10 a week or something like that.

eracode

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#2700004 30-Apr-2021 10:13

As a user, overall I think Sharesies is very good but just wondering if anyone here who uses Sharesies has noticed that the portfolio return figures they show you as an investor can be very inaccurate and misleading.

I would like to know whether anyone is interested in this subject before I go further into a fairly long explanation with facts and figures - if there’s no real interest I won’t bother.

Sometimes I just sit and think. Other times I just sit.

networkn

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#2700046 30-Apr-2021 11:38

eracode:

As a user, overall I think Sharesies is very good but just wondering if anyone here who uses Sharesies has noticed that the portfolio return figures they show you as an investor can be very inaccurate and misleading.

I would like to know whether anyone is interested in this subject before I go further into a fairly long explanation with facts and figures - if there’s no real interest I won’t bother.

I'd like to hear.

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#2700590 2-May-2021 07:37

networkn:

eracode:

As a user, overall I think Sharesies is very good but just wondering if anyone here who uses Sharesies has noticed that the portfolio return figures they show you as an investor can be very inaccurate and misleading.

I would like to know whether anyone is interested in this subject before I go further into a fairly long explanation with facts and figures - if there’s no real interest I won’t bother.

I'd like to hear.

@networkn I'll PM you.

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Stu

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#2700615 2-May-2021 09:07

I only signed up yesterday, so I'm still finding my way around the site and getting to grips with the data. Kinda hoping it's accurate!

People often mistake me for an adult because of my age.

Keep calm, and carry on posting.

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Ge0rge

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#2700664 2-May-2021 11:47

networkn:
@eracode:

As a user, overall I think Sharesies is very good but just wondering if anyone here who uses Sharesies has noticed that the portfolio return figures they show you as an investor can be very inaccurate and misleading.

I would like to know whether anyone is interested in this subject before I go further into a fairly long explanation with facts and figures - if there’s no real interest I won’t bother.

I'd like to hear.

As a complete novice with only a toe in the water, I'd be keen to hear too please.

Stu

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#2700667 2-May-2021 12:04

Likewise, please.

People often mistake me for an adult because of my age.

Keep calm, and carry on posting.

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eracode

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#2700723 2-May-2021 12:44

I opened a Sharesies account in December and invested $X spread equally across three separate securities. Four months later, on the morning of 19 April, they were showing my return as 6.5%. I don’t necessarily agree with the way they calculate that return - but let’s accept that figure as a starting point.

Later that day I increased my portfolio to nearly $2X by approximately doubling the amount invested in each of the three securities. The next morning (20 April), after the additional securities had been purchased, Sharesies was showing my return as 3.25%.

Clearly my return had not actually halved from 6.5% to 3.25% overnight - there were no security price changes overnight that would have resulted in a change of that magnitude.

The reason for the change is that Sharesies is simplistically calculating my return as if I had invested $2X right from the outset in December. This is not correct - I didn’t have $2X invested for four months and one day - I had $X invested for four months and $2X invested for one day. On 20 April the true return on my investment was not actually 3.25% as they reported - it was still around 6.5%. The difference caused by their methodology is massive.

I believe the 3.5% is wrong and misleading. Sharesies' methodology means that anyone who is regularly adding to their investment is getting inaccurate return info from them - the reported return will be understating their real return. It also means that their investor customers are not able to meaningfully compare the return on their Sharesies portfolio with the return on other investments.

I have taken this up with Sharesies first through their help desk, then as an internal formal complaint. They admit that their methodology is inadequate. They claim they are looking to provide something more accurate at some unspecified time in the future.

In the meantime, IMO to admit to inadequacy and then to continue to knowingly provide incorrect portfolio return figures is inexcusable. An accurate calculation of portfolio return is one of the primary pieces of information an investor requires, and is entitled to, from an organisation like Sharesies.

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#2700774 2-May-2021 13:18

eracode: ... I have taken this up with Sharesies first through their help desk, then as an internal formal complaint. ...

Would really be interested in the outcome of your complaint. If they are understating the real return, I'd be keen to find out what my current 26% return is supposed to be.

Please keep this GZ community vibrant by contributing in a constructive & respectful manner.

Stu

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#2700776 2-May-2021 13:28

Thanks @eracode. Certainly something to keep in mind when looking at my numbers down the track. Hopefully they sort it out sooner, rather than later.

People often mistake me for an adult because of my age.

Keep calm, and carry on posting.

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decibel

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#2700786 2-May-2021 14:15

I don't know, you guys - you all sound a little too enthusiastic to me.

I remember all the "share clubs" we had at work in the 1980s; way before the on-line forums we have here. Lots of people would gather around someones desk at lunchtime and pore over the morning paper's shares page. And we all know how that turned out.

I hope you are all contributing enough to a Kiwisaver fund (not the "default" fund) in order to get the maximum contribution from your employer.

Good luck .

mattwnz

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#2700791 2-May-2021 14:36

eracode:

I opened a Sharesies account in December and invested $X spread equally across three separate securities. Four months later, on the morning of 19 April, they were showing my return as 6.5%. I don’t necessarily agree with the way they calculate that return - but let’s accept that figure as a starting point.

Later that day I increased my portfolio to nearly $2X by approximately doubling the amount invested in each of the three securities. The next morning (20 April), after the additional securities had been purchased, Sharesies was showing my return as 3.25%.

Clearly my return had not actually halved from 6.5% to 3.25% overnight - there were no security price changes overnight that would have resulted in a change of that magnitude.

The reason for the change is that Sharesies is simplistically calculating my return as if I had invested $2X right from the outset in December. This is not correct - I didn’t have $2X invested for four months and one day - I had $X invested for four months and $2X invested for one day. On 20 April the true return on my investment was not actually 3.25% as they reported - it was still around 6.5%. The difference caused by their methodology is massive.

I believe the 3.5% is wrong and misleading. Sharesies' methodology means that anyone who is regularly adding to their investment is getting inaccurate return info from them - the reported return will be understating their real return. It also means that their investor customers are not able to meaningfully compare the return on their Sharesies portfolio with the return on other investments.

I have taken this up with Sharesies first through their help desk, then as an internal formal complaint. They admit that their methodology is inadequate. They claim they are looking to provide something more accurate at some unspecified time in the future.

In the meantime, IMO to admit to inadequacy and then to continue to knowingly provide incorrect portfolio return figures is inexcusable. An accurate calculation of portfolio return is one of the primary pieces of information an investor requires, and is entitled to, from an organisation like Sharesies.

Does the same thing happen if you sell and then withdraw money? It doesn't seem to for me. I moved all my ETFs to invest now a few weeks ago, which halved my balance, to avoid paying the new transaction fees on EFTs they are now charging. I did this by selling via sharesies and buying on invest now. But the returns and percentage return seem to be same or similar to what they were before moving them. Adding up the return of the shares I have remaining, the increases and decreases in shareprice values since purchase, which can be found in the 'my investment' section of each holding, the return on the is only a fraction of the return it is showing. So it must also be showing the returns from those ETFs, which I would expect it to show. But once sold, the my previous investment stats for those ETFs disappear from the page.

But I enter all the shareholding figures into my ASB share account, which provides a lot of other data. Sharesies is good though for buying small regular amounts of shares as the fees are a lot smaller, than the $15 minimum you have to pay ASB. It is especially good since they now have australian shares.

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