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Meeting: |
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Held at: |
Square One, Crewe |
Date: |
23rd March 2005 |
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Time: |
16:45 – 17:50 |
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Prepared by |
Dave G (from Adrian T’s notes) |
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Chairperson: |
Adrian T |
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Present: |
Adrian T |
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Richard W |
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Simon B |
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Apologies: |
Chris B |
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Dave G |
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Kit P |
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Chairman’s Acceptance of Minutes |
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Signature |
Date |
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Proposed dates of next meetings:-
Wednesday 20th April
Wednesday 18th May
Wednesday 15th June
Wednesday 13th July (AGM)
Wednesday 10th August (to include strategy review)
Wednesday 7th September
Wednesday 5th October
Wednesday 2nd November
December date to be arranged.
Accepted.
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Ref. |
Description & Progress |
Status |
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CB/0106/03 |
Produce some exit criteria for UBC Media 0222: No progress |
COMPLETED |
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CB/0106/04 |
Prepare a further buy proposal for UBC Media if we should be spending more on UBC Media than just what was remaining in the Abbey account 0222: Left open just in case Chris was
still considering this. |
COMPLETED |
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CB&AT/0106/07 (action changed from |
Propose a form of words as a rule change to allow ad-hoc purchases of additional units and to remove upper limit on monthly subs 0222: Was done but has not been formally
approved. Those attending voted
unanimously to go with the rule change but we need 75% of the membership to
agree before the rules can be changed.
As neither Chris nor Adrian could attend the meeting, action left open
until either one agrees the change or until both reject the change. 0323: CB agreed to wording so rule is now
formally agreed |
COMPLETED |
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RW/0222/01 |
Purchase appropriate “top up” of Wagon |
COMPLETED |
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SB/0222/03 |
Look in Kit’s storage for the pot llama. 0323: The llama has been found and passed to Dave G. |
COMPLETED |
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ALL/0222/04 |
Attempt to register and submit an entry for the Investaquest regional competition (as per Simon’s email in January) as the deadline is 4th March |
COMPLETED |
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DG/0222/05 |
Consider whether or not to also attend the Proshare Awards Dinner and get a ticket as necessary 0323: Dave did attend with Chris and Kit |
COMPLETED |
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SB/0222/06 |
Discuss with Chris the possibility of taking notes during the Proshare Awards Dinner 0323: Dave G and Chris B took notes and will write them up. |
COMPLETED |
See end of these minutes.
See separate report for detail.
Highlights/Lowlights A reasonably good month with a rise of £677 on holdings. Unit value up from 601.064 to 611.193. We have £5987.98 of non-mechanical cash.
None
Fundamental portfolio is still “Too low” (16% against strategic minimum of 25%).
This is a month for the ‘Growth’ side of the portfolio. Horizon is the one to be sold, our first sale within the growth sub-portfolio. The replacement will be Carclo is the top selection. Richard to make purchase of appropriate amount.
The table below now reflects the sell situation for each mechanical holding. The appropriate sell condition (i.e. “Anniversary” or “Sell If Below”) is shown in bold.
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Company |
Portfolio |
“Anniversary” |
Purchase Price |
Target Price |
Trailing Stop Loss |
High Since Purchase |
Target Met? |
Sell If Below |
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4Imprint |
Growth |
May 2005 |
141.50 |
212.25 |
21.23 |
250.00 |
Yes |
228.78 |
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Fyffes |
Value |
Jun 2005 |
117.34 |
176.00 |
17.60 |
160.00 |
No |
176.00 |
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Sportingbet |
Growth |
Jul 2005 |
99.05 |
148.58 |
14.86 |
349.00 |
Yes |
334.14 |
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McAlpine |
Value |
Aug 2005 |
254.70 |
382.05 |
38.21 |
337.00 |
No |
382.05 |
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Hyder |
Growth |
Sep 2005 |
150.00 |
225.00 |
22.50 |
231.50 |
Yes |
209.00 |