Report for April 2010

After a good rising run the FTSE100 started to fall back from its peak of 5825 and ended up showing a 2% fall at 5618. It is still falling because of the Euro turmoil over Greece. Our portfolio fell just 1% and the Unit Value also fell 1% to end at 127.8.

Our BHP Billiton shares were the worst losers, down 8% on concerns about taxation of miners in Australia and uncertainty over the markets in China. Gartmore European Selected Opportunities and our new holding in Cazenove European B also disappointed with falls of 8% and 13% respectively.