Coming to the end of May and my big cap portfolio is coming along okay.
It’s up a little over 2.5% for the proverbial Mad Month of May. However as nice as that sounds it has under-performed compared to the FTSE 100 (up around 4%). The main problem here for this portfolio was a sudden fall by Tate & Lyle. Despite announcing a healthy increase in pre-tax profits there was only a small increase in sales. This sales performance appears to have disappointed the market so it has punished Tate with an 8% fall over the last few days. It could well be time to say goodbye to them, also possibly to Ashtead which since a peak in April seems to be starting a downward trend.
Looking at the others, Burberry seems to have recovered from its nasty fall in April with the rest generally coming along nicely.
As for replacing Tate and / or Ashtead, then the investment company 3i (III) and the digital payment company Paysafe (PAYS) are on the short-list. Much depends on what happens when the market opens tomorrow.
My income portfolio (up 2.6%) has slightly outperformed my big cap portfolio in capital growth while also providing dividends at an equivalent annual rate of over 3.3%. No plans here to make any changes to this. It is targeting long term income rather than capital growth with a holdings review probably not till December.