MoneyWeek’s model investment trust portfolio – update February 2017

Merryn Somerset Webb gives an update on the progress of the MoneyWeek portfolio of investment trusts, and makes one change.

In 2012, we decided to put our money where our mouths are: we introduced a recommended portfolio of six investment trusts that we figured would suit pretty much all of our readers as a "lock up and leave" long-term portfolio.

The idea was that I would review it every six months to consider whether we should make any changes to it. My hope was that I would make almost no changes (trading being both boring and expensive), but that the group would be well balanced enough that we'd make regular, mildly market-beating returns anyway.

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CompanyPrice at 31/1/17Premium/discountDividendBuy/sell
Caledonia (CLDN)2,720p-14.8%1.9%HOLD
Personal Assets (PNL)39,250p1.1%1.4%HOLD
Scottish Mortgage (SMT)342.5p1.0%0.9%HOLD
RIT Capital (RCP)1,860p8.7%1.7%HOLD
Law Debenture (LWDB)531p-14.0%3.0%HOLD
Temple Bar (TMPL)1,220p-6.1%3.3%BUY
Finsbury Growth (FGT)654.5p0.7%2.0%SELL
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.