Report for January 2009

January 2009 showed a continuation of a relative stable period since the bottom of the market in November 2008, although the FTSE100 fell by 3% to 4190. Our portfolio on the other hand rose by 1% to £11,490 and the Unit Value was stable at 89.3. This continues to give a little cause for satisfaction though we must not forget we have lost 10% of the value of our investments.

Tesco provided us with a further gain of £116, and our Martin Currie N America Fund gained a further 6% suggesting that our investment in the US will be useful.

Our Dixons/PC World corporate bond (with 3 years to run) has fallen in value again but we are expecting to hold it to its maturity and trust that the company will survive that long. Our Next bond is doing rather better than that.

Severn Trent continues to provide a modest income flow, with a £15 dividend this month.

We used PIC funds to renew the domain registration for the family website [www.patrickfamily.org.uk]