Monthly Archives: August 2018

The UK Emerging Fund plc

The UK Emerging Fund plc is a London listed investment trust, managed by SVM Asset Management

A £6.4millon fund.

Net Asset Value per share of 124.62p

Top 10 Holdings (%)

Fevertree Drinks 5.0%
Burford Capital 3.8%
GVC Holdings 3.8%
Workspace Group 3.4%
Unite Group 3.3%
Hutchison China Meditech 3.0%
Hilton Food Group 2.9%
GB Group 2.9%
Blue Prism 2.8%
4Imprint Group 2.7%

Total 33.5% Emerging Fund

Time: A Way To Make Money

Ticking away the moments that make up a dull day
Fritter and waste the hours in an off-hand way
Kicking around on a piece of ground in your home town
Waiting for someone or something to show you the way

Tired of lying in the sunshine staying home to watch the rain
You are young and life is long and there is time to kill today
And then one day you find ten years have got behind you
No one told you when to run, you missed the starting gun

And you run and you run to catch up with the sun but it’s sinking
Racing around to come up behind you again
The sun is the same in a relative way, but you’re older
Shorter of breath and one day closer to death

Every year is getting shorter, never seem to find the time
Plans that either come to naught or half a page of scribbled lines
Hanging on in quiet desperation is the English way
The time is gone, the song is over, thought I’d something more to say

Home, home again
I like to be here when I can
When I come home cold and tired
It’s good to warm my bones beside the fire
Far away, across the field
The tolling of the iron bell
Calls the faithful to their knees
To hear the softly spoken magic spell

HM Government July 2018 Borrowings

Another month, guess what, take a lucky guess, it is the same old story, HM Government, spends more money than it receives via taxes and duties. Another deficit month, thus to bridge the gap, needs to borrow on the bond market.

In July 2018 , the HM Government had to borrow money to meet the difference between tax revenues and public sector expenditure. The term for this is The PSNCR: The Public Sector Net Cash Requirement.

There were “only” 3 auctions of Gilts (UK Government Bonds) by the UK Debt Management Office ( to raise cash for HM Treasury:-

03-Jul-2018 1 5/8% Treasury Gilt 2028 £2,874.9950 Million
19-Jul-2018 1¾% Treasury Gilt 2057 £2,299.9970 Million
24-Jul-2018 1% Treasury Gilt 2024 £2,750.0000 Million

When you add the cash raised:-

(£2,874.9950 Million + £2,299.9970 Million + £2,750.0000 Million) =  £7924.992 Million

£7924.992 Million = £7.924992 Billion

On another way of looking at it, is in the 31 days in July, HM Government borrowed:-

£255.6449032 million each day for the 31 days.

We are fortunate, while the global banking and financial markets still has the confidence in HM Government to buy the Gilts (Lend money to the UK), the budget deficit keeps rising. What is also alarming, is the dates these bond mature 2028, 2028 and 2057. All long term borrowings, we are mortgaging our futures, but at least “We Are In It Together….

Assets of the Troy Income & Growth Trust PLC

The Troy Income & Growth Trust PLC is a £222m London listed investment trust.

 The top ten holdings:-

 Royal Dutch Shell 5.3% of the fund

Unilever 5.2% of the fund

BP 4.4% of the fund

Reckitt Benckiser 4.1% of the fund

GlaxoSmithKline 3.9% of the fund

Lloyds Banking Group 3.9% of the fund

British American Tobacco 3.5% of the fund

Compass 3.0% of the fund

Experian 2.9% of the fund

Nestle 2.5% of the fund

 3.3% yield


Robotics and Automation

Robotics and Automation is now becoming a critical part of modern society.

Legal & General UCITS ETF Public Limited Company Robo Global Rob&Auto Go UCITS ETF (GBP) (ROBG) is an exchange traded fund that invests in Robotics

The Top Ten holdings are:-

iRobot 2.0%

Oceaneering International 1.9%

AeroVironment 1.9%

Brooks Automation 1.9%

Intuitive Surgical 1.8%

Fanuc 1.8%

Nabtesco 1.8%

ABB 1.8%

FLIR Systems 1.7%

Cognex Corporation 1.7%




Vodafone Dividend

Today, Vodafone PLC pays out its August 2018 dividend.

€0.1023 a share:

The total number of voting rights in Vodafone plc is 26.714,482,765


26,714,482,764 x €0.1023 a share = €2,732,891,586.7

That is £2,427,800,000 = £2.427 Billion

a yield of over 7%

The Foreign & Colonial Investment Trust August Dividend

Today, the Foreign & Colonial Investment Trust pays out it’s dividend.

2.7p a share.

The total number of voting rights that can be exercised in the Company is, therefore, 542,180,712.


542,180,712 x £0.027 = £14,638,879.224

1.5% yield.