On the markets, the FTSE 100 started the year at 7,142. The index ended the 6m period at 7,312, having pulled back from a high point of 7,550 in May - a gain of 2.4% - if we factor in say 1.8% for dividends paid, this will give a figure of 4.2% total return for the period.
Of course, the UK listed market makes up less than 10% of the global market place so focussing on just the FTSE 100 for example can give a distorted picture. The total return on world equity markets in GBP terms for the 6m to end June was 6.2%.
The portfolio of individual shares has reduced from 6 to just 2 following the sale of IMI, Berkeley Group, Amec Foster and IG Group. This leaves just Legal & General and Next which is going through a bad patch and is down 20% since the start of the year.
Fortunately I have had a good run from the other shares and the total return from this sector for the past 6 months is 11.0% which includes dividends received of 1.8% which makes it my best performing section of the portfolio so far.
With the exception of Blackrock Commodities, all trusts have provided decent gains over the half year. The better returns came from Aberforth 16%, Finsbury Growth 12%, TR Property 15% and recent addition Scottish Mortgage 16%. In recent weeks I have been gradually reducing my equity holdings and have sold Invesco Income and Dunedin Income trusts and also top-sliced others including Aberforth, Edinburgh, City of London and Finsbury. With an eye on preserving capital I added Capital Gearing to my ISA portfolio in May and have HSBC Global Strategy (cautious) on my watchlist.
Share price total return from my basket of trusts has been a very handy 8.5%.
|Scottish Mortgage v Blackrock Commodities 6m to June 2017|
(click to enlarge)
Vanguard LifeStrategy 60 is now my largest portfolio holding and, although held in check by the rise in the value of sterling, it has risen from £164.50 to currently £169.85 - an increase of 3.2%. My UK Equity Income fund has gained 4.5% which includes a half year dividend of 2.3%
The total return for my index funds has been 4.1%.
As ever, the bonds and fixed interest sector has provided a steady and predictable income of 3.5% and a total return of 7.5% for the half-year.
My holding in Skipton BS PIBS were redeemed in April and the proceeds are currently in cash.
The Combined Portfolio
Total return for the entire portfolio of shares, investment trusts, index funds and fixed income is 7.9% which includes income of 2.1%.
As ever, I would be interested to hear how others have done over the past 6 months - feel free to leave a comment if you keep track of your portfolio.