To follow up on our last article concerning CTL, following the explosion of the distribution ratio at 191.55%, as well as the announcement this week of an unchanged dividend at 0.725 USD (since the 1st quarter of 2010), we sold the stock on 14.11.2011, with a performance of -0.85% in CHF and 14.92% in EUR.
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Hi, quick newbie question: why is there such a difference between the Swiss franc and the euro?
Thanks in advance.
Hi Alexander,
simply because the euro depreciated sharply against the CHF during the period when the position was open. Without the intervention of the Swiss National Bank in August, the gap would have been even greater. To put it another way, on the same investment (here CTL), the gain is less in CHF, but the CHF has become stronger, conversely the gain is more marked in EUR, but the currency has weakened. Hence the difficulty of achieving good performances for several months for those whose reference currency is the CHF. But on the other hand they can buy foreign securities "cheaper".