The other part of my investments consists of personal holdings. Unlike the SIPP there are a lot of capital movements in and out, so time weighted performance figures are more important when looking at results. My headline valuation was down 24.4% over the year, but my time weighted figure was plus 11.7%. Much of the decline in the actual value was due to redemption of a property mortgage. I don’t have much of a clue how my benchmark is made up, but see this was up by 3.5%. The benchmark on my SIPP is base rate plus 1%, so this was only up 1.3%.
I mentioned benchmarks because it is important to understand that managed portfolios can be scrutinized by various non revenue earning departments with names like compliance and risk. The effect of this is that investment managers become more attached to index tracking funds that cover all or parts of the benchmark.
The best performing stocks in this portfolio were Roku and Atomera, and Bango also deserves a mention. Doubt that any of these is included in any index of significance !