Report for August 2009

August was another good month in the stock market with the FTSE100 rising by 8% to almost 5000. Our portfolio performed well, but not quite so well, rising by 3%. The Unit Value rose 2% and now stands at 99; i.e 1% below par after 10 years!

On the whole our funds are steadily growing with Gartmore Selected Opportunities rising 12% and F&C Multi-Manager Growth rising 7%. Our China Growth fund slipped 3% but still looks as though it has recovered from the trough seen earlier in the year. Our remaining four directly-owned stocks [Tesco, Severn Trent, BHP Billiton and Island Oil & Gas] have also shown a steady growth during the last three months.