Just thought I would publish a quick update on my portfolio for anyone interested. Comments welcome.
From 01 April to 07 May:
Share trades: None.
Portfolio YTD: -1%
FTSE 100 YTD: -20%
- Cash :24%
- Tristel: 18%
- Bioventix: 14%
- Mountview Estates: 9%
- FW Thorpe: 8%
- S&U: 6%
- M Winkworth: 6%
- City of London Inv.: 5%
- Andrews Sykes: 4%
- Mincon: 3%
- System1: 2%
- Tasty: 1%
Updates since 31 March:
2020 results included a final dividend and revealed no staff had been furloughed. So better than I had been expecting. Management therefore seemed confident. But whether borrowers will pay back all their loans to S&U remains to be seen.
The 2019 results were pretty academic. Much to my surprise, the firm subsequently declared a Q1 dividend of 1.68p per share — which was 12% down on the Q1 2019 payment but 1.68p per share more than I had expected.
WINK said: “The board remains committed to paying a quarterly dividend. While the intention is to resume a progressive payment once trading conditions permit, the reduction in the first quarter dividend reflects the element of caution required as a result of the Covid-19 crisis. As it is the board’s objective to ensure that dividend pay-outs are covered by post-tax profits, the total distribution for 2020 is expected to be lower than 2019.”
Clearly the London housing market may still be active throughout the pandemic.
City of London Inv.:
April funds under management climbed 10%. The 28p per share dividend currently looks safe on my sums, assuming the level of FUM is sustained. Yield is 9% at 310p.
Q1 update said the group’s factories generally remain open and pandemic issues relate mostly to logistics. Not too bad in the circumstances.
Oh dear. The CFO has resigned and talk of furloughed staff suggests times are tough. ITV has since reported advertising revenues falling 42% during April — which sounds awful for SYS1’s advert-testing business.
Nothing from Tristel, Bioventix, Mountview Estates, FW Thorpe, Andrews Sykes and Tasty.
Not a bad YTD performance so far. I have been lucky because I started 2020 with:
- 14% cash
- 8% in Daejan, which received a takeover bid:
- 13% in Tristel, which is a Covid-19 beneficiary
- 11% in Bioventix, which appears to be reasonably ‘pandemic proof’
At the moment 56% of my portfolio is a mix of cash and two rather highly rated ‘healthcare’ shares (TSTL and BVXP). For now I plan to ride my luck further until I can see an obvious reason to reinvest elsewhere.