Tugboat portfolio: stay safe

Saltydog’s Richard Webb updates us on his cautious portfolio, the 'Tugboat'.

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

On 24 June, the FTSE 100 closed at 6,029, more than 800 points off its recent peak in May: a fall of nearly 12%. So it's hardly surprising that all the fund sectors exposed to equities have been suffering too. Sometimes when share prices fall, bonds go up in value. But this month they have been falling too. So the only sector to gain in the last four weeks has been the Absolute Returns' sector. For the last few weeks we have only been holding the CF Odey UK Absolute Return fund (up 3.3% since we bought it on 16 May) and the Chelverton UK Equity Income fund (up more than 20% since we bought it more than eight months ago). Overall, the Tugboat portfolio has made an annualised gain of 7.9% since launch in November 2010. We haven't made any changes to the portfolio this week.

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Safe HavenCash71%72%
Slow AheadCF Odey UK Absolute Return22%21%
Steady As She GoesPFS Chelverton UK Equity Inc7%7%
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