Recent
Performance
The
portfolio continues to do well. In the last six months the return has been 19.6%.
By comparison the FTSE100 has increased by 9.7% over the same period.
The
table below shows the monthly returns for the last 12 months:
|
Month
|
Return
|
|
Dec 2011
|
-2.0%
|
|
Jan 2012
|
3.7%
|
|
Feb 2012
|
3.9%
|
|
Mar 2012
|
-4.1%
|
|
Apr 2012
|
-3.9%
|
|
May 2012
|
-5.1%
|
|
Jun 2012
|
1.8%
|
|
Jul 2012
|
6.0%
|
|
Aug 2012
|
2.0%
|
|
Sep 2012
|
3.6%
|
|
Oct 2012
|
2.8%
|
|
Nov 2012
|
2.1%
|
And is further summarised in the
table below:
|
One month
|
Three months
|
Six months
|
YTD 2012
|
12 months
|
|
2.1%
|
8.7%
|
19.6%
|
12.8%
|
10.5%
|
Current
Holdings
|
Investment
|
Weighting
|
|
iShares EUROSTOXX 50 ETF
|
55.2%
|
|
iShares Asian Property ETF
|
16.6%
|
|
Zopa Lending
|
7.5%
|
|
DJ-UBS Natural Gas ETC
|
6.9%
|
|
Other Pension Funds
|
6.0%
|
|
iShares Far East ex Japan Small Cap
|
5.0%
|
|
Gold
|
1.2%
|
|
Cash
|
1.6%
|
This month has been fairly passive
and no major changes to the portfolio have been made. The cash holding has
increased due to dividend payments on two of our funds (I don't automatically
reinvest dividends).
ishares
EUROSTOXX50
This
fund has performed well this month and accounts for the majority of our gains. Last
month we added to this at 1989p a share, the fund is currently trading around
2106p. We've also upgraded our short term target to around 2427p (previously 2360p).
ishares
Asian Property
Continues
to perform well. In addition a quarterly dividend of $0.1932 (0.74%) was paid
this month. The fund is trading very close to its short term target of 1668p
(downgraded from 1690p last month). If the fund reaches its target the plan of
action would be to liquidate 30-40% of our holdings. I would like to keep
exposure to this asset class, but at these levels we can probably get back in
at a better level or invest in a different region. Currently 1630p a share.
DJ-UBS
Natural Gas ETC
Fairly
weak performance this month (down about 4%). This remains our high risk,
speculative investment but we have no reason to leave the trade at present.
Other
Pension Funds
These are still active and nominal
amounts are added to them each month.
Zopa
Lending
Zopa
rates have dropped off a bit this month with expected returns being around
5.9%. About 50% of our Zopa total remains in the holding account. We think
rates will pick up in the new year and are happy to wait for plus 6% expected
returns.
ishares
Far East (ex Japan) Smaller Companies
Solid
performance plus a $0.4495 (1.70%) dividend per share this month.Target upgrade
to 1909p (from 1860p previously) with a current price of 1648p a share.
Gold
No changes.
Cash
Very little cash holdings at present
as I invested the relatively large amount recently roughly splitting it; 50%
EUROSTOXX, 25% Zopa, 25% Natural Gas.
Asset
Allocation
