As I start each trading month on the 20th (old habit from derivative settlement dates), today is my end of month. October has been a good month, with a closing balance of £175,113.42. The flash crash in sterling meant that my IG hedge account has taken a bit of a beating, but the same dynamic, the fall of sterling vs USD, means that my underlying portfolio (many of which have significant non GBP earnings) have felt the benefit.
My holdings in the ISA at close of business today are:
Bank of Ireland 13.375% Perpetual sub notes
BT 5.75% Senior 07/12/2028
Lloyds Banking Group
Sports Direct International
JP Morgan AM UK Ltd Emerging europe
|ISA market value
Start of my financial year at 20th March – balance was £141,500 giving a year to date profit of £33,613 and an annualised return of 35.63%.
That’s a good return, but the trick is doing it consistently. In fact, the trick is doing half of that consistently, so it is very early days. To put the task in context, I would need to match that percentage performance for 5.75 more years from this point to hit my £1 million target. AND I’D STILL BE LATE!!
What you will notice is that most of the above portfolio is exactly the same as it was when I started the project. I brought in Next when they dipped a few months back and I have revisited Lloyds – an old foe of mine – on the basis that they are a UK focused bank with a huge market share. I am ashamed to have not ditched Fitbug earlier and they are now worth a fraction of my entry price – to the extent that they now represent a more or less free option so I may as well keep them as they can no longer hurt me having dropped to a value of just £361.61 from a £6,500 investment – OOPS!
Beazley is solid and a high dividend payer and that is a long term hold, as is Glencore now that it has reduced it’s debt mountain. Sports Direct I am a big fan of as discussed elsewhere on this blog.
Restaurant Group has underperformed my expectations and that will form the basis of my analysis over the coming days.
It would be great to hear any feedback, views on the stocks or strategies mentioned in the blog