An update on the 'Tugboat' portfolio

Saltydog Investor aims to boost fund investors' returns via a simple strategy: buy what's rising, avoid what's falling. Here, Saltydog's Richard Webb updates us on its cautious portfolio, the 'Tugboat'.

Saltydog Investor aims to boost fund investors' returns via a simple strategy: buy what's rising, avoid what's falling. Here, Saltydog's Richard Webb updates us on its cautious portfolio, the 'Tugboat'.

Last Wednesday (22 May), when we did our weekly review of fund performance data, the FTSE 100 had just hit a 13-year high. Each sector (by Investment Management Association definitions) in our moderately risky 'Steady As She Goes' group, and the more aggressive 'Full Steam Ahead' group, was doing well. The bond and gilt sectors in the cautious 'Slow Ahead' group had a poor week only the Absolute Returns sector made reasonable returns. Wehad already halved our holding in the Henderson Long-Dated Credit fund, and this week sold the balance, along with the other sterling corporate bond fund, Fidelity MoneyBuilder Income.

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Safe HavenCash23%26%
Slow Ahead SOLDHenderson Long-Dated Credit0%8%
Slow Ahead SOLDFidelity MoneyBuilder Inc0%20%
Slow AheadCF Odey UK Absolute Return20%10%
Slow AheadPFS Chelverton UK Equity Inc7%7%
Steady As She GoesCazenove UK Equity Inc10%10%
Steady As She GoesBaillie Gifford Global Discount20%0%
Full Steam AheadLegg Mason Japan Equity6%13%
Full Steam AheadNeptune Japan Opportunities7%7%
Full Steam AheadNeptune US Opportunities6%0%
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