This is the latest article from our contributor Reg Hoare, who has worked for 40 years in the City, initially in investment banking and the securities business, latterly as managing director of MHP Communications. He has been investing in investment trusts as a private investor for more than three decades. Here, he reviews the performance of his holdings as we move into the second half of 2026.
Reg Hoare H1 performance and attribution It has been notable in recent weeks that investment companies reporting results for the period ended 31 March 2026 have been ruing the unfortunate timing of ha...
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This is the latest article from our contributor Reg Hoare, who has worked for 40 years in the City, initially in investment banking and the securities business, latterly as managing director of MHP Communications. He has been investing in investment trusts as a private investor for more than three decades. Here, he reviews the performance of his holdings as we move into 2026.
Reg Hoare It started well... Q1 started so well; by 27 February, the FTSE 100 index was up nearly 10%. Then the Iran War began, and the index retraced its steps by some 7%, leaving the market overall up about 2.5% over t...
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This is the latest article from our contributor Reg Hoare, who has worked for 40 years in the City, initially in investment banking and the securities business, latterly as managing director of MHP Communications. He has been investing in investment trusts as a private investor for more than three decades. Here, he reviews the performance of his holdings over 2025 and looks forward to 2026.
Reg Hoare Onwards and upwards Another year has sped by, with drama aplenty along the way for markets to worry about. Overall, my SIPP had a decent year, rising 18.3%, fractionally behind the rise in the FT...
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This is the latest article from our contributor Reg Hoare, who has worked for 40 years in the City, initially in investment banking and the securities business, latterly as managing director of MHP Communications. He has been investing in investment trusts as a private investor for more than three decades. Here, he reviews the performance of his holdings over the third quarter of 2025.
Reg Hoare Onwards and upwards Q3 2025 was another decent quarter for my SIPP portfolio, with a 6% rise. For the year to date, the SIPP is now 14.4% ahead, a very satisfactory outcome, albeit this almost exactly...
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This is the latest article from our contributor Reg Hoare, who has worked for 40 years in the City, initially in investment banking and the securities business, latterly as managing director of MHP Communications. He has been investing in investment trusts as a private investor for more than three decades. Here, he reviews the performance of his holdings over the second quarter of 2025.
Reg Hoare The best quarter After the tricky first quarter, Q2 2025 was a much-needed return to rising markets and to form for my SIPP portfolio, which produced its best three-monthly return since I started thi...
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This is the latest article from our contributor Reg Hoare, who has worked for 40 years in the City, initially in investment banking and the securities business, latterly as managing director of MHP Communications. He has been investing in investment trusts as a private investor for more than three decades. Here he reviews the performance of his holdings over the first quarter of 2025.
Reg Hoare A tricky quarter Q1 proved to be a tricky quarter, with volatility driven by continued geopolitical and macroeconomic uncertainty. Against this background, my portfolio unsurprisingly gave up some of ...
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This is the latest article from our contributor Reg Hoare, who has worked for 40 years in the City, initially in investment banking and the securities business, latterly as managing director of MHP Communications. He has been investing in investment trusts as a private investor for more than three decades. Here he reviews the performance of his holdings over calendar year 2024.
Reg Hoare A year of two halves It felt like a struggle to be honest – but in the end my SIPP’s 2024 return of 12.8% was pretty respectable, and it outperformed both the FTSE100 and FTSE All-Share indices. The portfolio...
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Jonathan Davis reviews the four Money Makers model portfolios:
Growth portfolio Income portfolio Handbook portfolio Defensives portfolio
The slides accompanying this video presentation are available for download (PDF). The current holdings in each portfolio are summarised in the attached spreadsheet, together with an indication of which of them are - or have been - holdings of Jonathan Davis and his family in the past. Please note that the numbers are unaudited and subject to a more detailed review when I move the data to a new provider, after which I hope it will be quicker and easier t...
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Growth portfolio review In normal times the Money Makers portfolios are designed as buy and hold portfolios for the medium to longer term, so their make up tends to change little from one year to the next. However this time around I think a change in strategy is called for. Having decided back in 2009-10 that low interest rates and financial repression were here to stay, I was happy to let the long duration trusts in the growth portfolio, the oldest of the four, continue to compound merrily away for years without much need to rebalance from year to year. In the new climate however, for a varie...
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This seems a good moment to review how the various Money Makers portfolios are performing. I say a good moment because having been very cautious at the start of the year there are some signs that sentiment has taken a turn for the better in the last two weeks; bond yields have stabilised and are down from their peak, while equity markets have rallied somewhat. Gold meanwhile continues to range sideways. Commodities and specialist alternative asset trusts have been the standout strong performers this year. Could this be a turning point of some duration? Short answer: it is possible, but I am a...
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