Player Expiry Date
I was just going over some threads and thinking about long term investments in relation to expiry date.
With these long term strategies, is there a way to see how long we have left/expiry date on certain shares?
Salah - 10 Shares 1/9/2020
5 shares 10/9/2020
2 shares 23/10/2020
45 shares 20/12/2020
50 shares 2/2/2021
If not, do you think this is something they'll introduce? I mean, I wouldn't be surprised if not because FI would potentially lose out money from you not selling them. I know right now that isn't a concern for a lot of us but give it 2 years and people might start thinking "Wait...I'm going to lose a few shares soon, how many do I need to sell?"
You don't want to sell too many shares if you don't need to, whereas on the flip side you don't want to sell less than you need and then lose the rest.
Obviously the transaction history tab is there but that could be a lot of effort to track back over 2 years. Do a lot of you already note yours down yourselves or if this does already exist and I just haven't found it?
I think the new and improved transaction tab makes it easier. As you can search back in certain dates. So just search back 3 years ago but do it 6months in advance and you'll see what you have to get rid of in the next 6 months. But then you'd also need to know if u sold any at any point along the way too. I keep a written record of mine so I can delete them as I sell.
Well exactly, there is no indication of when/if you sold those shares unless you looked at the transactions for the whole 3 years (or however long it had been). I might have to start writing them all down just incase FI don't introduce this kind of feature haha
I use an excel spreadsheet to keep track of everything. Put some formatting on there so my futures show red when they are 2yr 11mnths old.
FI have said in the past they will provide warning of expiring shares, but don't think they clarified when or how. I think they'll need to do something about it soon because the Index can't be all that far off 3 years old.
Nice one @NewUser117151 and thanks @BL__FI itll be interesting to see how it goes nearer the time. Would be easier to go to portfolio though, click on your player or their shares and for it to then have a breakdown of dates. But any warning is good though
How does a 3 year rule work please
Three years after purchasing futures, they expire and you lose the money you invested in them. Basically you should instant sell after 2 years and 354 days (or sooner if you want to join the sell queue). This is relatively easy to work out and do if you bought all of your futures in a particular player in one go.
But much more tricky to do if you've been topping up on futures in a player throughout the 3-year period - i.e. how many do you sell and when?
In theory the oldest futures you have in a player are sold first, but obviously there is a lot of scope to get it wrong and lose money when some of the futures time out.
Can I buy them back if I want
Whenever you buy a share in a player, it's 3 years for those shares. When you buy more shares, it's also 3 years for them too. Whenever you sell, it automatically sells off your oldest shares first. Of course you can buy shares in that player again but it'll be new shares at whatever their current price is at the time, not the share price you originally bought them for
Does anyone know what actually happens if you still have shares when it hits 3 years......do you (a) lose all the expired shares and the funds go to Football Index (b) FI sells all teh expired shares for you at that point in time and credits your cash balance.
Pretty sure they can't just cash your shares in and pocket your money?
Also.....if some of the big investors who have been in since day 1 get to the 3 year cut off and decide to just withdraw altogether, then the value of the FOOTIE will decrease? There must be a risk that as people hit 3 years and start withdrawing that oiverall teh fund will start shrinking?
FI take it and you lose your shares.
I doubt it’ll make that many people go, it’s quite clear that’s the rules so you know what to expect. There could be a few people that say they’ll only do it for 3 years and then leave but I doubt it’ll be many and FI would’ve grown even bigger by then anyway.
It counts as a bet so they have to give it a lifetime
I really don't think there will be that many three-year-old shares around. I've been on less than three months and have sold all the first shares I bought already. If FI communicate upcoming expiry properly it might even have the opposite effect: a few people who bought shares early on and forgot about the whole thing might log on to see their shares have considerably increased in value and decide to become active traders again ...