Wednesday, 19 March 2014

Portfolio Adjustments - March 2014

Over the course of the last month Investimouse has sold out of Tangent Communications (TNG:L), the London based digital media and print company. Results are good, a better dividend is expected this year and they are starting a share buyback in the coming months. Bought at 9.1p, sold at 11.3p - so a rise of about 25%. I hope I don't regret selling early but a recent RNS which stated that there were over £3.5M in phantom options payable to two directors in the coming year spooked me. That would completely wipe out profits in the group and made it a bit uninvestable until those are gone.

Investimouse also sold out of Coms (COMS:L), a superb little earner, which in just over a month doubled in price. Suppose I could have held on for more of the recovery but feel that the valuation had started to get miles away from itself.

To replace these Infinis Energy (INFI:L) is now in the fund purchased at 246p earlier in the month. Think it could be an excellent long term hold for both yield and growth. As an energy play it's always going to be a little at the mercy of government whims but it has decent growth plans with new power plants expected to add another 500MW of generating capacity. It may also end up being an excellent consolidator of all the other little renewable energy firms in the UK.

In addition more money was put into Merchants Trust (MRCH:L) and new money was found for a small stake in Middlefield Canadian (MCT:L) which I hope will be a nice safe high yielding trust. Paying guaranteed 1.25p quarterly dividends it yields at around 5% at the moment which should do me fine for the next few years.