Chorlton
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Hello All,
I'm looking for some general advice on the following:
A family member of mine who also lives in Australia has been investing in a couple of UK shares (via an Australian Broker) over the last year and although relatively new to "investing" has made a v.good return to date. He would now like to sell those shares, as he wants to lock in those profits.
However, due to the ongoing fall in exchange rates between GBP Sterling and the Aussie AUD, a large percentage of his profits would be eaten up by the difference in these rates & consequently he would like to keep the profits "invested" and in GBP until the exchange rate improves, at which point he will then transfer the money back over.
One idea suggested was to reinvest the profits in a boring but stable UK stock and thus keep the money in GBP until the rate improves.
Has anyone got any other ideas on how he can achieve this goal??
Just for clarification, I am not looking for any specific financial advice (for obvious reasons) but merely some general ideas which can be explored by him in more detail.
Any help much appreciated,
I'm looking for some general advice on the following:
A family member of mine who also lives in Australia has been investing in a couple of UK shares (via an Australian Broker) over the last year and although relatively new to "investing" has made a v.good return to date. He would now like to sell those shares, as he wants to lock in those profits.
However, due to the ongoing fall in exchange rates between GBP Sterling and the Aussie AUD, a large percentage of his profits would be eaten up by the difference in these rates & consequently he would like to keep the profits "invested" and in GBP until the exchange rate improves, at which point he will then transfer the money back over.
One idea suggested was to reinvest the profits in a boring but stable UK stock and thus keep the money in GBP until the rate improves.
Has anyone got any other ideas on how he can achieve this goal??
Just for clarification, I am not looking for any specific financial advice (for obvious reasons) but merely some general ideas which can be explored by him in more detail.
Any help much appreciated,
