Report for April 2008

April has been a much better month with the FTSE100 advancing 7%, and our portfolio and the Unit Value up by 5%. Volatile BHP Billiton who were fallers in March led the field with a 23% gain, and our holdings in emerging markets also picked up by at least 6%.

Reuters have been taken over by Thomsons and now appear as Thomson Reuters on the list. We will receive £549 for those shares plus the new holding of 24 Thomson Reuters shares. Biffa have been taken private and we received £304.50 for our holding.

Note that WPP have reached our 15% stop-loss limit and I propose that we should now sell this stock.

Island Oil & Gas drips away value month by month, and we might consider realising our £662 holding here despite making an enormous loss. There is no obvious prospect of getting this money back.