Report for August 2006

August was another volatile month, and we ended up with the Unit Value 3.6% lower at 109.5 while the FTSE100 fell by 2%. Our speculative stocks African Platinum and Island Oil & Gas both swung wildly, but the 11% gain on the latter was exceeded in value by the 17% fall in the former. Other stocks were just a few percentage points up or, more often, down.

We invested £1000 each in (a) a China Growth Unit Trust and (b) BP, so we have only 9% of our assets in cash.