MoneyWeek portfolio: How our trusts have fared – September 2015 update

The MoneyWeek investment trust portfolio has done well by being left alone, says Merryn Somerset Webb. But now it's time to add one more trust.

Merryn Somerset Webb reviews our portfolio of investment trusts.

When I launched the MoneyWeek investment trust portfolio, I did warn you that it was to be held for the long term and that you probably shouldn't expect much by way of updates or changes. I hope you all remember that bit of the deal, because you have, as you might have noticed, had precious little in the way of updates or adjustments. On the plus side, our neglect has been firmly endorsed by one of our economic heroes, Richard Thaler (the less attention you pay, the more money you'll have) and the strategy hasn't done badly either.

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BH MacroBHMG15/06/121,948p11/10/20132,056p5.5%5.5%
Caledonia InvestmentsCLDN11/10/131,830pn/a2,236p22.19%27.7%
Personal AssetsPNL15/06/1236,000pn/a33,130p-7.97%-2.57%
Scottish Mortgage *SMT15/06/12642pn/a250p94.63%103.33%
Finsbury GrowthFGT15/06/12331.75pn/a560p68.8%80.69%
RIT CapitalRCP15/06/121,238pn/a1,517p22.54%29.33%
3i Infrastructure3IN15/06/12124pSELL NOW167.2p34.84%60.10%
Law Debenture CorporationLWDBBUY NOW494.5pn/aRow 7 - Cell 5 Row 7 - Cell 6 Row 7 - Cell 7
Portfolio return**Row 8 - Cell 1 Row 8 - Cell 2 Row 8 - Cell 3 Row 8 - Cell 4 Row 8 - Cell 5 40.29%50.93%
FTSE All ShareRow 9 - Cell 1 Row 9 - Cell 2 Row 9 - Cell 3 Row 9 - Cell 4 Row 9 - Cell 5 18.94%34.44%
MSCI World***Row 10 - Cell 1 Row 10 - Cell 2 Row 10 - Cell 3 Row 10 - Cell 4 Row 10 - Cell 5 37.78%50.10%
* Return adjusted for 5-for-1 stock split on 30/6/14
** Assumes BH Macro holding rolled into Caledonia
*** Returns in pounds sterling
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BH MacroBHMGSOLD 11/10/13Row 0 - Cell 3 Row 0 - Cell 4 Row 0 - Cell 5 Row 0 - Cell 6 Row 0 - Cell 7
Caledonia InvestmentsCLDN2,311p2,730p18.1%-26.28%-17.9%2.3%
Personal AssetsPNL33,675p33,580p-0.28%6.46%-0.6%1.7%
Scottish MortgageSMT138.7p245.5p77.0%-8.02%1.2%1.2%
Finsbury GrowthFGT328.2p545p66.1%1.07%4.2%2.1%
RIT CapitalRCP1,211p1,540p27.2%2.18%0.9%2.0%
3i Infrastructure3IN119p166.5p39.9%4.03%0.1%4.2%
Law Debenture CorporationLWDB461pRow 7 - Cell 3 Row 7 - Cell 4 8.5%Row 7 - Cell 6 3.2%
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Merryn Somerset Webb

Merryn Somerset Webb started her career in Tokyo at public broadcaster NHK before becoming a Japanese equity broker at what was then Warburgs. She went on to work at SBC and UBS without moving from her desk in Kamiyacho (it was the age of mergers).

After five years in Japan she returned to work in the UK at Paribas. This soon became BNP Paribas. Again, no desk move was required. On leaving the City, Merryn helped The Week magazine with its City pages before becoming the launch editor of MoneyWeek in 2000 and taking on columns first in the Sunday Times and then in 2009 in the Financial Times

Twenty years on, MoneyWeek is the best-selling financial magazine in the UK. Merryn was its Editor in Chief until 2022. She is now a senior columnist at Bloomberg and host of the Merryn Talks Money podcast -  but still writes for Moneyweek monthly. 

Merryn is also is a non executive director of two investment trusts – BlackRock Throgmorton, and the Murray Income Investment Trust.