Report for November 2007

November was another month of considerable turbulence on the LSE (due to the fallout from the "credit crunch") which has not yet finished. The FTSE100 on November 30 was down 5% at 6349 and our Unit Value was down 7% at 109.7. Our portfolio is now worth just less than £17,000 with 18,560 units issued, and the total value of our assets is £20,355.

Only three of our holdings grew in value, with Biffa (23% up) leading the way after a bid approach from private equity, and Severn Trent rising 7%. The rest were in serious decline and even our China Unit Trust lost 10% of its value last month, but is already climbing again. WPP fell 7% this month and is 15% below its AGM value: keep an eye on this stock.

Speedy Hire, flagged last month as struggling, dropped a further 20% and is 28% below its AGM value. Normally we would cut our losses and sell Speedy Hire.