Portfolio commentary: Rough and jumble

A disappointing performance from our Jumble Sale portfolio highlights the dangers of focusing on cheapness

Photo by freestocks on Unsplash

There was one other Investability portfolio which I omitted to mention last week, the Jumble Sale portfolio, so here’s a quick update. It’s not really a portfolio anyway, in the same sense that the Atlantic and UK Quality Shares portfolios are – we set it up as an experiment to see if the there was any merit in the tactic of buying deeply unloved shares, without the same quality rigour that we apply elsewhere.

To keep reading sign up for an annual or monthly subscription here. If you're already a subscriber log in here.

The Atlantic Portfolio sails along

Five companies delivered half of the performance of the US-UK portfolio - is it time to dump the laggards...or even the winners?

US indices had a great 2021, which meant that even the very best active managers found it hard to beat the S&P 500 and the Nasdaq 100. Encouragingly, the Atlantic portfolio came closest to doing so of the benchmarks we use, delivering a total return - ex costs- of 24.6% in the year, more than 2 percentage points better than Fundsmith Equity.

To keep reading sign up for an annual or monthly subscription here. If you're already a subscriber log in here.

UK Quality Shares shine in a benign market

Invest-ability's UK-focused portfolio topped the table in a decent year for the FTSE

Photo by David Vincent on Unsplash

The FTSE 100 is best known for proving something of a perennial disappointment to its investors, certainly when compared to its more tech-heavy US counterparts. It lagged them again too this year by a mere ten percentage points, but with many of its constituents well into the green 2021 felt a lot better than many previous years.

To keep reading sign up for an annual or monthly subscription here. If you're already a subscriber log in here.

Portfolio commentary: boring blue chips, please

Why I’ve taken a position in dull but worthy City of London Investment Trust

Photo by Erik Jacobson on Unsplash

As I’ve previously mentioned, I’m going to begin building my Sipp with a few well-selected investment trusts – an instant portfolio if you like, hopefully bought at a discount to the underlying value of the assets in them.

Trusts in this report

Source: SharePad

A few readers also offered a few suggestions of trusts I could look at, among them Scottish Mortgage which at the time I wrote was trading at about 1,461p a share, an 8% premium to its net asset value (NAV). I’ve long liked Scottish Mortgage and would like to join my kids and many others in owning it, but as I said, the premium was too punchy for me given I reckon markets are looking pretty frothy.

To keep reading sign up for an annual or monthly subscription here. If you're already a subscriber log in here.

Quality Shares Portfolios September 2021

Monthly portfolio weightings for the Quality Shares Portfolios

Here are the latest weightings for my three portfolios.

You can read about my thoughts on them and track their performance in the Quality Shares Weekly newsletter every week.

To keep reading sign up for an annual or monthly subscription here. If you're already a subscriber log in here.

An introduction to the Quality Shares Portfolios

See the Invest-ability stock picking ethos in action

Photo by Luca Bravo on Unsplash

Analysing companies is only the first step - putting that into practice to make investments and building portfolios is ultimately what matters. Our website will initially have three portfolios for subscribers to follow:

To keep reading sign up for an annual or monthly subscription here. If you're already a subscriber log in here.