Monthly Investment News

This page presents in a monthly format the investment news from the Mobius club. Please refer to the Investment page for all the performance and charts details relating to the club's investment and portfolio.

September 2004

During August 2004, we held an extraordinary meeting to review the portfolio strategy of the Club. The focus has been on whether a methodical approach to investing was appropriate, using for example pre-defined policies for investment. The discussion focussed on diversification, asset allocation, security selection and whether a top-down or bottom-up approach was the most viable.

This month also witnessed many of our shares too close to their S/L for comfort. While many of us were on holiday, the elected club broker had to monitor closely many shares. Ultimately, Victrex and Celsis gave in and we had to sell our holdings.

July 2004

This month's meeting has resulted in an extensive discussion on the overall portfolio iinvestment strategy. Three shares have been purchased - the club had invested in two of these three companies in the recent past (Mitie, Retail Decisions). NHP (Sector: Real Estate) had been presented to the club a couple of months ago and results announced recently made it favourable for a purchase by the Club. The club's investment portfolio is currently at 83% of its total asset value (NAV). The major holdings of the club (as a proportion of the investment portfolio) updated on 02/07/2004 are depicted in the table below.

June 2004

No investment have been made this month. Although a thorough analysis of the existing portfolio had been done and a couple of good proposals at the mouthly meeting were made, but not enough to enthuse the members into further investment or increasing existing holdings. So the club's investment portfolio is currently at 64.91% of its total asset value (NAV). The major holdings of the club (as a proportion of the investment portfolio) updated on 01/06/2004 are depicted in the table below.

May 2004

Two further investments have been made. We bought Celsis International and Alphameric. Celsis International had already been presented in a previous month. Alphameric has been proposed using the e-toolkit template. The club's investment portfolio is currently at 67.87% of its total asset value. The major holdings of the club (as a proportion of the investment portfolio) updated on 30/04/2004 are depicted in the table below.

April 2004

In this month, two shares in our portfolio have dropped below their S/L and were sold. These were Dicom and Retail Decisions. The latter company has only been purchased last month, just before the results announcement and based on a good uptrend. But the share price pointed downwards after the results. We also invested in Victrex following the March 2004 meeting. Victex had been discussed in last month's meeting too. The club's investment portfolio is currently at 51.46% of its total asset value. The major holdings of the club (as a proportion of the investment portfolio) updated on 31/03/2004 are depicted in the table below.

March 2004

Our holdings in Persimmon were sold - When the club decided to re-invest in Persimmon (January 2004 meeting), it assigned a S/L as well as a ceiling price (580p). Persimmon shares reached 583p and were sold. We also purchased Retail Decisions following the February 2004 meeting. Two propositions were made via the electronic toolkit and distributed by e-mail (Victrex and Retail decisions). This is encouraging as it enables other club members to research the companies proposed prior to the meeting. The club's investment portfolio is currently at 56.82% of its total asset value. The major holdings of the club (as a proportion of the investment portfolio) updated on 27/02/2004 are depicted in the table below.

February 2004

We have made a number of investments following decisions at the January 2004 meeting. We purchased Air Partner, Hydro Intl and accumulated on Synergy Healthcare. However, Hydro Intl had dropped well below its stop/loss in this month and hence had to be sold. We had an electronic submission of the toolkit for the first time (Air Partner) and it is hoped that more toolkit submissions will be done by e-mail in the future, encouraging a preview of the report prior to the meeting. The club's investment portfolio is currently at 65.34% of its total asset value. The major holdings of the club (as a proportion of the investment portfolio) updated on 01/02/2004 are depicted in the table below.

January 2004

We have re-invested in Persimmon and sold our holdings in Traffic Master. We also made a new investment in DICOM (this company has been discussed by the club for months but final decision made only in the December meeting. The club's investment portfolio is currently at 46.59% of its total asset value. The major holdings of the club (as a proportion of the investment portfolio) updated on 01/01/2004 are depicted in the table below.

December 2003

We have invested a further £1000 in Gold this month. The club's investment portfolio is currently at 34.67% of its total asset value. The major holdings of the club (as a proportion of the investment portfolio) updated on 01/12/2003 are depicted in the table below.

November 2003

We purchased and sold Persimmon within a month (it hit its S/L). We sold DRS (decided to take a good profit). We also decided to invest a further £1000 in Gold as soon as possible. The club's investment portfolio is currently at a low 24.44% of its total asset value. The major holdings of the club (as a proportion of the investment portfolio) updated on 01/11/2003 are depicted in the table below.

October 2003

We purchased and sold SurfControl within a month (first time happened that we bought a share and sold it within a month!). Surfcontrol hit and break its Stop/Loss (820p). We also sold Patientline. There is currently a conditional purchase on DICOM but the price level has not been reached yet. The club's investment portfolio is currently at 32.69% of its total asset value. The major holdings of the club (as a proportion of the investment portfolio) updated on 01/10/2003 are depicted in the table below.

September 2003

This has been a quiet month (there is no monthly meeting in August). No sale or purchase this month, nor was there any stock hitting a stop-loss or sell-target. Although persimmon was sold last month, its sale appears in the account this month (when transaction was complete). The club's investment portfolio is currently at 35.74% of its total asset value. The major holdings of the club (as a proportion of the investment portfolio) updated on 01/09/2003 are depicted in the table below.

August 2003

We have increased our holdings in DRS. We have sold Persimmon on the 31st of July 2003, so the sale will only show next month. We have made two purchases (Synergy Healthcare and Patientline). The sale of Mitie last month appear in this month's accounts. The club's investment portfolio is currently at 45.73% of its total asset value. The major holdings of the club (as a proportion of the investment portfolio) updated on 01/08/2003 are depicted in the table below.

July 2003

No major changes to the portfolio. We sold our holdings in Mitie but these will appear in next month's accounts. The club's investment portfolio is currently at 36.22% of its total asset value. The major holdings of the club (as a proportion of the investment portfolio) updated on 01/07/2003 are depicted in the table below.

June 2003

Few changes have taken place in the June 2003 portfolio. We have increased our holdings in Traffic Master. We have also invested in Gold (for the first time) - by opening an e-gold account. The club's current investment portfolio has also increased to 36.30% of its total asset value. The major holdings of the club (as a proportion of the investment portfolio) updated on 01/06/2003 are depicted in the table below.

May 2003

These are the major holdings in the club (as a proportion of the equity portfolio) updated on 01/05/2003. The club's current equity investment portfolio is only 26.06% of its total asset value. £1000 worth of Shares in DRS (Data & Research Services) have been purchased and our holdings in Radstone PLC have been sold. In addition, the club is seriously considering investing in Gold (current view is to look at e-gold).

April 2003

These are the major holdings in the club (as a proportion of the equity portfolio) updated on 01/04/2003. The club's current equity investment portfolio is only 25.05% of its total asset value. Shares in Radstone PLC have been sold by the club and will appear in the May 2003 accounts and portfolio.

March 2003

The purchase of Persimmon Stock has altered the portfolio as depicted below. The major holdings in the club (as a proportion of the equity portfolio) updated on 01/03/2003. The club's current equity investment portfolio has increased to 26.97% of its total asset value.

February 2003

These are the major holdings in the club (as a proportion of the equity portfolio) updated on 01/02/2003. The club's current equity investment portfolio is only 17.34% of its total asset value. Shares in Persimmon PLC ( PSN.L) have been purchased by the club and will appear in the March 2003 accounts and portfolio.

January 2003

These are the major holdings in the club (as a proportion of the equity portfolio) updated on 01/01/2003. The club's current equity investment portfolio is only 16.92% of its total asset value. No new purchases/sales this month.

December 2002

These are the major holdings in the club (as a proportion of the equity portfolio) updated on 01/12/2002. It is important to note that the over the last six months, the club has turned several of its equities into cash amid concern of the current volatility of the stock market. The club's current equity investment portfolio is only 18.3% of its total asset value.