Analysis & Comment > Model Portfolio
Back to 2014
Model Portfolio: 23 June 2014
Model Portfolio : 23 June 2014
The model portfolio enjoys a modest rise in value from £163,980 to £166,996 since the previous update. In the same period the FTSEORB INDEX is about even, trading between 104.25 and 104.5. For those of the technical persusasion we covered the FTSEORB in our bond of the week recently (read the article here).
We have sold our two Provident Financial holdings as well as the Italy bond. On the buy side we step back into an old favourite Enterprise Inns, which have covered a few times in Bond of the Week and on the bond blog. We also took part in the Ladbrokes new issue and picked up £10k at par (as suggested it is now trading at a nice premium). We covered this here in a rather jovial bond of the week during a quiet period...
Big movers have been the Co-Op 11% trading up near 124 after having touched 130 in February. One of our three Paragon holdings traded down around 6% at 89% and we’ll be keeping any eye on them. We are after all fully invested at the moment and may need to free up some cash for any upcoming new issues.
Note: The portfolio is operated with real money initial deposit of £100,000 and traded through our live bond account. This is to accurately reflect the performance and holds a mixture of credits and bond types, from the AA-rated Places for People bond, down to more speculative holdings such as the BB- rated Enterprise Inns bond. The Portfolio also has a small proportion of its holdings in fixed income preference shares and “bond-like” instruments. Fixed Income ETFs may be added from time to time.