Portfolio Update July 2014

Since the 3rd of Jan (my annual review date), the FTSE All Share index (my chosen benchmark index) has gained 1.9% and delivered approx 1.6% of dividend income giving a total of 3.5% growth.

The total growth of my portfolio over the same 6 month period (including dividends less all charges paid - no new money has been added) equates to 2.9%. A bit of a disappointment after last year's returns.

The 0.6% under-performance is mostly attributable to sizeable share price falls in Oakley Capital, Polo Resources, Cairn Energy and Tesco. Also Lloyds is down a little off it's highs, which has had some effect as it is one of my largest holdings.

I am currently reviewing all the above companies and there will be some imminent changes.

On a positive note some of my holdings have performed well & contributed to the small gain, namely AstraZeneca, Imperial Tobacco, Murray International Trust & Templeton Emerging Markets Trust.

Here is a current breakdown:

Company	Market	Amount	% of Holdings	% FTSE ALLSHARE
AstraZeneca	FTSE 100	£18,903.80	12.80	12.8
BAE Systems	FTSE 100	£7,190.17	4.87	4.87
Berkshire Hathaway (B)	S&P 500	£4,590.11	3.11
British American Tobacco	FTSE 100	£10,982.16	7.44	7.44
BT	FTSE 100	£5,451.66	3.69	3.69
Cairn Energy	FTSE 250	£3,033.09	2.05	2.05
F&C Commercial Property Trust	FTSE 250	£5,736.00	3.88	3.88
Fidelity China Special Situations	FTSE 250	£8,234.60	5.58	5.58
GlaxoSmithKline	FTSE 100	£14,865.38	10.07	10.07
HSBC	FTSE 100	£5,501.90	3.73	3.73
Imperial Tobacco	FTSE 100	£10,982.16	7.44	7.44
JP Morgan Russian Securities	FTSE Small Cap	£2,160.00	1.46	1.46
Lloyds Banking Group	FTSE 100	£17,837.19	12.08	12.08
Molins	FTSE Small Cap	£2,039.31	1.38	1.38
Murray International Investm Trust	FTSE 250	£9,236.24	6.26	6.26
Oakley Capital Investments	AIM	£5,060.74	3.43
Polo Resources	AIM	£579.71	0.39
Templeton Emerging Markets	FTSE 250	£4,318.43	2.92	2.92
Urban & Civic	AIM	£2,224.80	1.51
Tesco	FTSE 100	£1,436.15	0.97	0.97
Cash		£7,292.62	4.94
Total		£147,656.22	100	86.62

I'll be posting again soon, as and when changes are made.