July 2015 Update

Things have wobbled about a bit this month but our portfolio managed to finish up in the green with combined assets up over £2,000 since last month. I haven't been doing much trading as we're in a state of limbo as regards how much cash we will need for the next couple of years (my son still hasn't heard whether he has a place on his MA course and there's been no further news on my VR).

The only investments I have made are £500 into my LGPS AVC, £57 into my CIS FSAVC (still waiting for this to be transferred into my SIPP) and a small amount of re-invested dividends ploughed back into my ISA.

All in all it's been a pretty unexciting month. However, I have been pleased to see that my Herald Investment Trust (global small companies in IT, multi-media and comms) has now made some steady progress (up just over 10% during the period I've been drip feeding it) and TR European Growth Trust seems to be hanging onto most of the profit it has made for me (19%) (don't know how long that will last though - I have been considering taking some profit from this but holding off for the time being). Globally smaller companies seem to be doing quite well currently with my FTSE 250 tracker also standing at 10% up, although Aberdeen Asian Small Companies just keeps on dropping (down 16%) and the modest amount I have in an S&P small cap tracker is refusing to make profit and has slipped into the red again.

What's not been doing so well recently is my iShares Global Clean Energy tracker.

The S&P Global Clean Energy Index offers exposure to the 30 largest and most liquid listed companies globally that are involved in clean energy related businesses, from both developed markets and emerging markets

Key	Chart	Instrument	1 mth	6 mths	1 yr	3 yrs
		iShares Global Clean Energy UCITS ETF GBP	-4.64%	2.86%	4.17%	77.86%
		Gbl ETF Commodity & Energy	-6.47%	-6.95%	-17.09%	-18.37%

I can understand why clean energy companies in the UK could have been taking a bashing due to the fact that the government has been reducing subsidies, but what the drop says about global trends following a surge in investment in 2014 is a little worrying. Maybe it's too soon to see it as an indicator of anything.

The fact that fossil fuels reap 4 times more in subsidies from world governments than renewable energies can't help though.

Although July's been fairly quiet maybe August will bring some excitement. Today my £9,000 worth of premium bonds will be going into the draw for the fist time. 

Drinks all round at York if ERNIE comes up trumps :-)