Report for June 2006

June was a difficult month, but our portfolio, the Unit Value and the FTSE100 all ended 1% higher. BSkyB was our best performer with an 8% rise. Island Oil & Gas, our newest acquisition, has been very volatile and showed a 5% loss on the month. It is now worth 20% less than we paid for the shares, the only serious loser in our current portfolio. I suggest we hang on for a while but be ready to take profits if it rises again. The F&C Growth Unit Trust showed a 2% fall in June, and the Treasury 9% 2008 stock continued its inevitable decline towards par.

Note that after a withdrawal of £1000 by one member this month, we hold 80% of our assets in stock with a cash “float” of only 12% and a further 7.6% on loan to another member.