Report for September 2005

A modest gain during September at a time when the FTSE100 soared ahead by 5%. We had two prominent fallers including, surprisingly, Tesco who have fallen back after announcing record profits. We have already taken our own profits from them (at the start of August) so we acted promptly. In fact, Tesco head our Share Watch list with a 5% fall since the AGM.

Fortunately, African Platinum are stirring after a quiet period and we are showing a 17% profit over two months. These shares are a long-term punt, and we are more likely to sell to take profits than to avoid losses there.

Speedy Hire (up 3%) and the F&C Multi-manager Growth Fund are also showing a promising start.

Overall, the portfolio is showing a profit of £460 and we are worth £1177 more than the subscriptions we have paid in over 6 years. We still have 31% of our assets in cash, so we could buy more shares if we wished.