Report for August 2007

August saw a month of turmoil on the stock-market, during which the FTSE100 fell 7% though our portfolio fell only 2% in value. Severn Trent, Reuters and Tesco each rose and Island Oil & Gas held its value. However, the rest of our shares followed Speedy Hire downwards, and even our best overall performer (China Growth) fell back 2%.

We sold our holding in BSkyB, limiting our loss to £34. The sale of our shares in BP and Experian is pending.

After the AGM we have paid out £588 in dividends and made a grant of £2000. This has reduced our cash holding substantially, and the Unit Value has therefore fallen back to 107.35 (14% lower).