No jump racing today, and it looks like the next meeting that may go ahead is at Huntingdon on Thursday.
Last night, I took my monthly look over my pension funds. As an lifelong gambler, I have trust in my own judgement and so since 1998 I have managed my own pension funds. I immediately had a bit of a lucky break, as I moved my pension fund out of Equitable Life's "With Profits" funds (surely a misnomer) into their free-standing pension funds just before the company collapsed.
I started 2010 with my usual annual target - a 20% increase in my pension fund. As of last week, I hit the target for the year. Since I started "managing" my own pension, I think it has performed admirably. In 2005, I achieved a 36% increase in my pension fund. I've had a couple of years of about 10% growth, and 2008 was a bit of a stinker (but, then I wasn't paying a financial advisor 5% of my fund value for the privelege of him saying that "markets were unsteady"). Right now, my pension fund is nearly 12% greater in value than it was in the summer of 2007 when the FTSE was at 6600 (its at 5830 as of noon today, about 12% down on its peak), so, I think my judgement isn't too bad.
Generally, I measure myself against the so-called "managed funds". I reckon if I can beat those, then I'm doing alright.
What I noticed last night was that property funds are back in town. I've not been involved in property this year, but its been on an upward trend since Sept 2009 when it bottomed-out. If property can grow in a recession then, as the economy pulls itself out of the mire, there's only one way it can go - up! So, today I'm going to start moving some of my pension fund portfolio into property (about 2%, increasing to 10%).
My European funds are going sideways. Not sure why, but its probably due to the Euro and other economic woes. So, they are the funds I'm selling and moving into property.
Looking long term, I reckon that there will be significant growth in raw materials necessary for modern life - and silver is one commmodity that takes my eye. It has gone up over 200% (from US$9 to US$30 an ounce) since the autumn of 2008, and that must be because that it's many uses in modern electronics is making it more valuable. I'm looking for a fund to include in my portfolio for commodities and raw materials, and would welcome any suggestions.
Outside of Europe, as I lived and worked in Hong Kong for over 7 years in the 1990's, I always have a soft-spot for the Asian markets, and this year they have done me proud - again! They never seem to fail me. If there ever is a correction, they bounce back double quick.
I also have a chunk of my fund in smaller companies and "special situations". If you are going to make a killing in these areas, its best to get into them when the economy is downbeat (and they are relatively cheap) as when the economy turns upwards, they will outstrip the growth of the "blue-chips".
Anyone else out there who manages their own pension funds and want to swap advice?
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