Report for May 2008

Little change to report on our "old portfolio" in May. While the FTSE100 slipped marginally during the month, our portfolio value (£15,596) and the Unit Value (108.49) both held their own. We received the final dividend and the cash from the sale of our Reuters stock, and its replacement Thomson-Reuters made a small gain. Island Oil and Gas found favour with investors and produced a £180 gain, but of course this stock still shows us holding a massive loss. BHP Billiton is still our best stock by far and gained 8% on the month.

Our recent investment in the Indian Subcontinent Fund has proved disappointing so far with a loss of 11%, and may be the first to go in the re-organisation.