Report for January 2006

The FTSE-100 rose 3% last month, and our portfolio did even better at 4% thanks to excellent gains in the mining sector with BHP Billiton and African Platinum rising 11% and 37% respectively.

Tesco, BSkyB and Vodaphone were disappointing with small losses on the month, and we will now dispose of the latter as they have fallen 17% since the AGM last July.

The Unit Value has risen to 112.3 (base = 100 in 1998; see graph).