Report for December 2008

December 2008 showed the first solid signs of stability and even recovery in the stock market after the prolonged recent turbulence, and the FTSE100 rose by 1% to 4319. Our portfolio did even better and rose 6% to £11,433 and the Unit Value rose 4% to 89. This gives some cause for satisfaction though we must not forget we have lost 10% of the value of our investments.

Tesco provided us with a gain of £416, and both the China Growth Fund and the F&C Fund have shown some further recovery too.

The New Star International Property Fund is not liquid at present and the managers may be taken over by Aberdeen Asset Managers. Nevertheless the value of our holding seems to be holding up, and I am not too concerned about it.

Our corporate bonds (Next and Dixons/PC World) have fallen slightly in value again.