Report for November 2010

November was another satisfactory month in which our Unit Value rose by 1% while the FTSE100 fell by 2%.  Indeed the plot shows that the Unit Value has been rising faster and more steadily than the FTSE over the last couple of years: probably a consequence of the gradual implementation of our new cautious and diversified strategy.  Among the few fallers were our two European Funds (-3% and -7%), presumably reflecting the recent loss of confidence in the Euro region. US funds, on the other hand, rose (11%, 3%, 3%).

We invested £800 of surplus cash in Legal & General Property Fund, though this leaves this Property sector still 17% underweight on our strategic criteria.  We still have £3000 in cash on deposit.  We have just switched out of F&C's Multi-manager Growth Fund (which we have held for 5 years) into their Corporate Bond Funds, but this will not show in the accounts till the end of December as the deal is not yet settled.