Compound Income
  • Blog
  • Scores
  • Portfolio
    • Table of Returns
  • Resources
    • Check list
  • About
  • Contact



Timing Indicators & CIS Portfolio Month End Update

1/12/2015

0 Comments

 
After the strong recovery in October, November proved to be a bit more lack lustre with a small positive total return for the FTSE All Share of 0.57%. The Mid 250 led the way again, as it often does, with a 1.9% total return while FTSE 100 delivered a more modest 0.33% as the miners fell again after a strong bounce in October and the likes of Standard Chartered and Rolls Royce fell heavily on the back of corporate developments. Finally the Small Cap indices fell and produced a -0.33% total return.
Monthly Timing Indicators.
The modest returns for the headline FTSE All Share, FTSE 350 & FTSE 100 indices was not sufficient to break the bearish trends in these against their 10 month moving averages and  they remain 1.4%, 1.5% and 2.4% below these respectively.
Picture
Given the strong performance from the Mid 250 this finished the month 1.4% above its moving average, while the decline from the Small Cap index brought it back to just 0.1% above its moving average. So still mixed messages from the timing indicators on UK markets and it will be interesting to see if we can get the often anticipated year end rally to flip the markets back into a positive trend above their longer term moving average to start the New Year.

Compound Income Scores Portfolio - Month End Update November 2015.
The portfolio saw total return of +1.5% this month which put it 0.93% ahead of the FTSE All Share this month. This leaves it up by 13.3% since inception in April this year for out performance against the FTSE All share of 16.5% as the index is down by 3.2% over the same time frame. This is quite a reasonable outcome this month given the heavy exposure to Small Cap and AIM stocks which were down to flat over the month, although it was also, no doubt, helped by big exposure to Mid 250 and no exposure to miners.

At the individual stock level the biggest winners were: 32Red (TTR) +14.1% as it continued its re-rating, Howden Joinery (HWDN) +11.5%
after an in line trading update this month and Diploma (DPLM) +11.3% as it recovered from an over sold position on the back of their final results which I wrote up here.

While the losers were Utilitywise (UTW) -18.8% which unwound last months bounce and fell back to its lows as well as going XD in the month. Maintel (MAI) -4.7% which also fell back after a strong rally last month and Paypoint (PAY) -4.3% which fell on some disappointment in the write down to the on line assets, which are up for sale, which was announced with their results recently and which I wrote up in detail here.

Finally to note we have had final results to the end of August for another CIS Portfolio stock - Character Group (CCT) today. At first glance these look like blow out results with earnings and dividend some 25% ahead of forecasts. However the basic earnings include a £2.05m gain from US$ hedging which they undertake so once you strip this out it looks like the basic earnings may be about 2% ahead and fully diluted may even be a bit behind forecast. Nevertheless the total dividend of 11p, thanks to the 6p final in these numbers, is definitely better than the expected 8.69p for this year and this also exceeded the forecasts of 10.5p for the year to 2016!

Therefore I would expect to see dividend upgrades, although these are probably required as even the 11p only puts it on a 2.2% at this mornings price of 505p. However it has a good earnings yield and looks good value on around 12x, although as it operates in the volatile toy industry so it is unlikely to get onto a massive rating. Nevertheless this rating and the current strong performance and growth still leave it on a CIS of 97 before any upgrades today and ahead of their all important Christmas trading update in January. So it seems likely to remain in the portfolio at the year end review and it will be interesting to see how their Christmas trading goes - lets hope its a good one, as the song says and it also says "war is over if you want it", as our MP's look set to vote for us to bomb Syria this Christmas - heaven help them & us!













0 Comments



Leave a Reply.

    RSS Feed

    Google+

    Archives

    December 2020
    November 2020
    October 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    August 2019
    June 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    November 2014
    October 2014
    September 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014

    Categories

    All
    32Red
    Aberdeen Am
    Admin
    A G Barr
    Alliance Pharma
    Alternative Telecoms
    AMEC
    Amino Technologies
    Amlin
    Anglo Pacific
    Asset Allocation
    Auto Trader Group
    BA Systems
    BATS
    Behavioural Finance
    Bellway
    Berendsen
    BHP Billiton
    Bloomsbury Publishing
    Bodycote
    Books
    Bovis Homes
    BREXIT
    Britvic
    Catlin-group
    Central Asia Metals
    Centrica
    Character Group
    Churchill China
    Cineworld
    City Of London Investment Group
    Clarkson
    Commercial Property
    Compound
    Computacenter
    Connect Group
    Croda
    Currencies
    Demographics
    Diageo
    Diploma
    Directors Dealings
    Dividends
    Easyjet
    Economics
    Emerging Markets
    Emis
    Empiric Student Property
    Etfs
    Fairpoint
    Ferguson
    Ferrexpo
    Finsbury Foods
    Food Retailers
    Forterra
    Games Workshop
    Gateley
    Go Compare
    Goid
    Greene King
    GSK
    Hargreaves Services
    Hays
    Headlam
    Hedge Funds
    Hill & Smith
    House Builders
    Howden
    HSBC
    IG Group
    Imperial Tobacco
    Indivor
    Inflation
    Insurance
    Intermediate Capital
    Interserve
    Investec
    Investment Trusts
    It
    ITV
    James Halstead
    Jarvis Investment Management
    JLT
    Jupiter Fund Management
    KCOM
    Kingfisher
    Legal & General
    Lloyds Bank
    Maintel
    Man Group
    Market Timing Indicator
    Market Valuation
    Marston's
    Matchtec
    Media
    Merlin Entertainment
    Micro Focus
    Mining
    Mitie
    Miton Group
    Moenysupermarket
    Mondi
    Moneysupermaket.com
    Music
    National Grid
    N.Brown
    News
    Next
    Nichols
    Norcros
    Oil
    Page Group
    Paypoint
    Pennon
    Persimmon
    Personal Finance
    Pharmaceuticals
    Phoenix Group
    Photo Me
    Photo-Me
    Plus500
    Podcasts
    Polar Capital
    Politics
    Portfolio
    Portmeirion
    Provident Financial
    PZC
    Qinetiq
    Ramsdens Holdings
    Rank Group
    Reckitt Benckiser
    Renewable Energy
    Renew Holdings
    Renishaw
    Research Papers
    Restaurant Group
    Retailers
    RIO
    RM Group
    Rolls Royce
    RPC
    RPS
    Safestore
    Sainsburys
    Savills
    Schroders
    Scores
    SCS Group
    Sell Discipline
    Shareholder Yield
    Share Picks
    Short Interest
    Somero
    Spectris
    Sprue Aegis
    SSE
    Stock Spirits
    S & U Plc
    TalkTalk
    Taptica
    Tax
    Technology
    Telecoms
    Tobacco
    Trading Ideas
    TSB
    TUI
    UK Market Update
    Unilever
    Utilitywise
    Value
    Victrex
    Vodafone
    VP.
    Water Utilities
    WH Smiths
    William Hill
    Wynstay
    XL Media
    XP Power
    Yield
    Zytronic

    googleda4a17cac6d02bb9.html
    File Size: 0 kb
    File Type: html
    Download File

Powered by Create your own unique website with customizable templates.
  • Blog
  • Scores
  • Portfolio
    • Table of Returns
  • Resources
    • Check list
  • About
  • Contact