Anyway, here’s SHAM’s current portfolio:
| Fund | Weight (%) |
| First State Global Emerging Markets Leaders | 21.3 |
| Invesco Perpetual Income | 14.9 |
| Woodford CF Woodford Equity Income | 13.2 |
| Invesco Perpetual Corporate Bond | 9.8 |
| BlackRock European Dynamic | 6.9 |
| J O Hambro CM UK Equity Income | 6.1 |
| Newton Real Return | 5.4 |
| Investec Enhanced Natural Resources | 3.8 |
| Schroder Tokyo | 3.1 |
| BlackRock Asia Special Situations | 2.9 |
| M&G Recovery | 1.5 |
| Cash | 11.1 |
Not much has changed from last time I showed you, but then I’m really struggling to see a really convincing fund opportunity. If anything, I’m looking to sell out of some funds.
M&G Recovery was in the news this week, with manager Tom Dobell using his half-year review to talk up a positive performance from FTSE Small Cap and non-FTSE stocks.
Still, long-term underperformance means this fund continues to make up only a small part of the SHAM portfolio.
From a more defensive standpoint, Newton Real Return has had a tougher time this summer, though its lack of correlation to equities is encouraging for an absolute return fund, so I’m not worried.
I’m happy to stay relatively ‘risk-on’ for the time being, I guess. If that’s what you’d call it from looking at SHAM’s portfolio? Any suggestions, let me know!
From Brian’s perspective, the game has been put away for the time being. After all, no one likes a fat cat, right?
SHAM is the continuing adventures of a financial journalist and his meagre ISA. Follow at @SHAMinvestor
