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  1. #1

    Spring cleaning the portfolio.

    Over the years I’ve built up an investment trust portfolio, with the objective of delivering disposable income. Alongside the portfolio I’ve maintained a significant cash position, simply because I didn’t need an income from it.

    I recognise that there are too many holdings, this being a simple consequence of opportunism as money to invest became available. Time however doesn’t stand still and I’ve reached the point where I need to re-align the portfolio towards growth.

    My current portfolio is as follows (rounded to the nearest 0.5%)

    Cash 18%
    CMHY 4%
    HDIV 5.5%
    IPE 4%
    NCYF 5%
    AAIF 2%
    EAT 4%
    HFEL 5%
    JETI 2.5%

  2. #2
    The holdings I’m tempted to keep/increase are:

    Cash – I intend to keep about 20%, invested with NS&I @ 2.2%
    HDIV – because they are prudent about the way they run the trust
    EAT – Smaller European companies, strong yield
    HFEL – held this for a long time (confidence thing). Decent yield.
    MYI - ditto
    SJG – I regret not investing heavily here when I had the chance
    SLI – Property, and as good as anything I guess
    BSIF – Solar has to be part of the energy infrastructure future
    HSL – UK smaller companies

  3. #3
    For CTY and MUT, I’m starting to think a mix of say ISF and VMID might be better. Around the same yield and clear index tracking.

    That would be ten investments, with all dividends re-invested. At a “gut feel” level, this feels about right, and I’d plan on near to equal weighting initially, as I think I need to diversify away from the UK.

    Before I embark on what would be a major re-structuring of the portfolio, I would really appreciate comment from other forum members, constructive or otherwise!

  4. #4
    I did a quick run through on Trustnet and city wire on the funds you want to keep and wonder if you are having such a major rejig - maybe you should start with a clean sheet because some of the funds are not top performers or in top quartile. Maybe it might be worth having a smaller mix of ETFs, Investment Trusts and Unit Trusts but not too many. I like the Vanguard funds fundsmith , Lindsell Train, Scottish Mortgage, Castlefield Fund Partners Ltd Buffetology Inst , Pantheon and Fidelity Special Values with small amount of Templeton Emerging Market. I sold out of several Invesco & Perpetual funds and WPCT.Are you just keeping the best you have whereas perhaps you should start again with a clear aim as to what you want e.g. capital growth as you do not need income and risk and time horizon. Probably have a house , car , job, cash in the bank, premium bonds and emergency money so Global is where the future will in be America, Emerging Markets and even Europe - Uk can give access to Global companies but in America ETFs seem best.


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