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Meeting: |
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Held at: |
The Brocklebank, Crewe |
Date: |
20th June
2005 |
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Time: |
17:15 – 18:15 |
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Prepared by |
Dave G |
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Chairperson: |
Adrian T |
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Present: |
Adrian T |
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Chris B |
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Dave G |
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Richard W |
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Simon B |
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Apologies: |
Kit P |
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Chairman’s Acceptance of Minutes |
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Signature |
Date |
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Proposed dates for future meeting are as below. Each to be confirmed at the preceding meeting:-
Monday 16th July (AGM) – to be confirmed by email.
Wednesday 10th August
Monday 19th September
Monday 17th October
Monday 21st November
Monday 19th December
Accepted.
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Ref. |
Description & Progress |
Status |
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ALL/1102/08 |
Consider how we could get a better return from our cash pile 1207: No progress 0106: No progress 0222: Left open to allow us to consider
whether we should open an account in trust with a higher rate of interest 0323: No progress 0420: No progress 0516: Very much worth considering as the
increase in subs, cheque from proshare and lack of buy proposals means we
have an increasing cash pile again.
Suggestion was that we could open a deposit account with RBS whilst we
were considering a longer term option.
See also action CB/0516/01 arising from this discussion. 0620: Closed and now superseded by CB/0516/01 |
COMPLETE |
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CB/0516/02 |
Transfer the tax calculations onto tax form 185. 0620: Chris supplied hardcopies of the
completed forms, copies of which have been sent to the tax man |
COMPLETE |
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RW/0516/03 |
Sell 4Imprint and buy Dart for the mechanical portfolio |
COMPLETE |
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DG/0516/04 |
Contact Kit to make sure he is happy that his Money Observer entry is used to represent the club entry 0620: Not done….and too late now as the
competition started on 1st June |
DROPPED |
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ALL/0516/05 |
Enter the Money Observer Investor Of the Year competition (www.investoroftheyear.co.uk) 0620: Everyone had forgotten to do it and,
with DG/0516/04 not being done either, Dave had forgotten on Kit’s behalf ! |
DROPPED |
See end of these minutes.
See separate report for detail.
Highlights/Lowlights: Decent month with our holdings up approx £1300 on the month, equivalent to a 4% gain. Unit value up from 550.780 to 573.34. We have £9718.68 of non-mechanical cash which is, quite frankly, getting ridiculous.
None.
Fundamental portfolio is still “Too low” (23% against strategic minimum of 25%). Given the cash pile, fundamental proposals are strongly encouraged.
This is a month for the ‘Value’ side of the portfolio with Fyffes being sold and replaced by Alumasc. Alumasc was selected via the 3rd relaxation of the filters. Richard to carry out the transactions.
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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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 |
383.00 |
Yes |
344.80 |
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Hyder |
Growth |
Sep 2005 |
150.00 |
225.00 |
22.50 |
231.50 |
Yes |
209.00 |
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Lambert
Howarth |
Value |
Oct 2005 |
272.00 |
408.00 |
40.80 |
363.00 |
No |
408.00 |
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Advanced
Fluid Connectors |
Growth |
Nov 2005 |
24.65 |
36.98 |
3.70 |
30.75 |
No |
36.98 |
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Taylor
Woodrow |
Value |
Nov 2005 |
242.39 |
363.59 |
36.36 |
329.00 |
No |
363.59 |
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Bellway |
Value |
Dec 2005 |
724.40 |
1086.60 |
108.66 |
894.00 |
No |
1086.60 |
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Hunting |
Growth |
Jan 2006 |
184.75 |
277.13 |
27.71 |
256.50 |
No |
277.13 |
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Wagon |