The temperature wasn’t the only thing going up for the Moleside Investors at their Annual Lunch in July. The monthly meeting had just been able to report a mild but encouraging change of direction for the club’s performance indicator.
Though the numbers for the month still included a large amount of red ink the trend was definitely a turn in the right direction. Compare June’s continuing downward trace with what has happened in July.
With the fund’s unit value going down by just a single penny in the month this was noticeably better news than much of what MIC has been able to report over the preceeding 9 months.
Despite still being ahead of its benchmarks – the portfolio’s blue line on the chart is still clearly tracking higher than the red of the FTSE All Share and the grey of the AIM Index of smaller companies – the 2 year performance chart at the head of this report shows the trend since last September, when MIC’s unit value had increased by a remarkable 65%, has been pretty steadily downwards.
Last month we suggested here that club members must have been asking themselves whether now was a buying opportunity, a chance to catch the uplift that must eventually be coming. This month’s result does little to clarify the situation, but it does confirm the simple truth that investing is always about timing.
Chairman Kris Nasta is confident that the club’s investors, managing a live and active, independent portfolio of their own design, are well placed to continue investigating and identifying the opportunities that current market conditions will create.
New Interest always welcomed
Any Moleside members who might be interested in joining the Investment Club are welcome to request a chance to sit in on a meeting and get an initial taste of how it operates. The Club meets monthly on the third Tuesday and business is conducted in a carefully constituted way almost always focusing on individual shares rather than funds.
Members take responsibility for making regular reports and recommendations on different market sectors or specific equities to which they give particular attention.As we always have to be reminded in financial circles past performance is no guarantee of what will happen in the future – but is it not just that reality that makes involvement in the group so absorbing?
For our earlier reports on the Moleside Investment Club click the Tag Box.