Report for July 2007

After an enormous dip last week, the FTSE100 recovered somewhat on the last day July to finish a mere 4% down on the month. The PIC Unit Value did better than that and only fell 1%, ending at 124.7.

The worst fallers in July were Experian (9%), Biffa (8%), Severn Trent (7%) and Island Oil & Gas which continued to drift lower by 7%. Only two of our stocks increased materially in value this month: BHP Billiton (6% on top of last month's 15%) and China Growth (also 6% higher).

After a substantial sale of units by one member we have only £2,378 in cash. Any investment in the Lorne Street Bakery Project in Oswestry may require selling of existing stock.