‘My £1.3m portfolio is risky for my age. How can I maximise my income?'
Would you like Kyle to rate your portfolio? Email money@telegraph.co.uk with the subject line: 'Rate my portfolio'. Please include a breakdown of your portfolio, your age and what your investing goals are. Full names will not be published.
Dear Kyle,
I'm 94 and administer my own portfolio, and have done for some 30 years.
My objectives are to maximise income to supplement my pensions, and to distribute to my two children 'excess income' annually, inheritance tax-free in accordance with HMRC rules.
While about 50pc of my investments are made primarily for income, the balance is designed to produce both income and capital growth to ensure the portfolio does not lose value. I also aim to have about 20pc of the portfolio in corporate bonds, with a range of maturity dates.
I'm an American, resident in the UK (although I travel frequently to the US), and therefore I'm unable to invest in UK collective funds for US tax reasons.
I'm also unable to invest in US collective funds because of UK transparency regulations and the fact that most US funds are non-reporting in the UK, and make capital gains taxable in the UK as income.
The portfolio is therefore a sort of personal investment trust, with most investments tax-sheltered in Isas. My nationality makes global investing difficult, but I do have some exposure to Asia and Europe, although not enough. I also recognise that the portfolio orientation is too high in financials.
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