Income Growth Portfolio

Investors looking for a growing income will find the ideas in this portfolio useful. The constituents are suggested by David Stephenson of Thames Valley Investments and this hypothetical £100,000 portfolio is updated quarterly.

The portfolio's start date is 3 February 2014 and its starting yield is 4.6 per cent.  

The previous incarnation reached its five year anniversary on 5 November 2013. It returned 72.2 per cent compared with 64.7 per cent from the FTSE APCIMS Income Portfolio benchmark; and 48.9 per cent per cent from the IMA Mixed investment 20%-60% Shares sector average.

The detailed review of the starting constituents appears in Money Observer's March 2014 edition.

Subscribe to our email newsletter for alerts to any intra-review changes to the portfolio.

You can view the most recent income growth portfolio update here.

Portfolio investments start date: 3 February 2014

Trading chronology:

11 July 2016: Sold Schroder European Alpha Income Z Inc hedged at £1.659, total value £6,111.756. Bought 3,640 units of Schroder European Alpha Income Z Inc at £1.679 for a total value of £6,111.56. Remaining cash balance £226.24.

27 May 2016: Sold RWC Enhanced Income Dis A at £78.8585 (£5,283.52). Bought Fidelity Enhanced Income Y Inc at £1.0690 (£5,199.62 - 4869 units).

14 July 2015: Sold holdings in Aberdeen Asian Income and Investec Emerging Market Local Currency Debt. Purchased 2,978 units in Invesco Perpetual Global Financial Capital at £2.46 and 3,684 units in Schoder European Alpha Income 'hedged' at £1.99. NOTE: The total holding in Princess Private Equity had been incorrectly stated as 1,774 shares when it should have been 2,281 shares.  

2 February 2015: Sold 2,664 units in Evenlode Income for £4,514.15; sold 44 units in RWC Enhanced Income for £3,881.93; and sold 4,899 units in Liontrust Asian Income for £5,314.93.Purchased a further 2,183 units in JOHCM UK Equity Income for £3,938.12; puchased a further 527 shares in Princess Private Equity for £3,741.70; purchased 4,000 units in Marlborugh Multi-Cap Income for £6,081.60.

1 November 2014: Sold holding in War Loan for £5,409.65. Purchased 516 shares in BlackRock World Mining at 349p, 1,624 units in Investec Emerging Markets Debt at 110.84p and 1,691 shares in Middlefield Canadian Income at 105.375p.

1 August 2014: Sold holding in International Public Partnerships and purchased 1247 shares in Princess Private Equity Holdings at 659p.

1 May 2014: Sold holdings in Piction Property and Murray International. Purchased 10,785 shares in F&C UK Real Estate at 83p; 5,396 units in Investec Emerging Markets Local Currency Debt at 109p; and 6,396 shares in Middlefield Canadian Income at 105p.

TODAY: Sunday 22 April 2018 TIME: 03:16

Investment Return Profit / Loss %
Holdings 101,555.84
Cash 226.24
Total 100,000.00 101,782.08 +1,782.08 +1.78
Above figures in UK pound sterling.
Name Shares / Units Cost Current Value Profit / Loss
BlackRock World Mining Trust (BRWM) 1,292 £4.643 £4,974.20 -1,024.56 (-17.08%)
BlackRock World Mining Trust (BRWM) 516 £3.49 £1,986.60 +185.76 (+10.32%)
F&C UK Real Est Invs (FCRE) 10,784 £0.83 £11,538.88 +2,588.16 (+28.92%)
Middlefield Canadian Income (MCT) 6,396 £1.05 £5,833.15 -882.65 (-13.14%)
Middlefield Canadian Income (MCT) 1,691 £1.05375 £1,542.19 -239.70 (-13.45%)
Princess Private Equity Holding (EUR) (PEY) 2,281 6.59 23,266.20 +8,234.41 (+54.78%)
Artemis Global Income R Inc (PKGLBI) 13,833 £0.7229 £12,812.12 +£2,812.25 (+28.12%)
Fidelity Enhanced Inc Y Inc (FICOME) 4,864 £1.069 £4,695.22 -£504.40 (-9.70%)
JOHCM UK Equity Income A Inc (JHUEID) 4,442 £1.801 £9,483.67 +£1,483.63 (+18.55%)
JOHCM UK Equity Income A Inc (JHUEID) 2,183 £1.825 £4,660.70 +£676.73 (+16.99%)
Marlborough Multi Cap Income A Inc (FMULTC) 4,000 £1.5204 £6,343.60 +£262.00 (+4.31%)
n/a (QEEVIB) 5,274 1.5118 0.00 -7,973.23 (-100.00%)
n/a (BRYGHJ) 2,978 2.461 0.00 -7,328.86 (-100.00%)
Schroder Eurpn Alp Inc Z Inc (CBERPO) 3,640 £1.679 £7,858.76 +£1,747.20 (+28.59%)
Royal London Stg ExYdBd B Inc (RLSEYB) 8,090 £1.1125 £9,531.64 +£531.51 (+5.91%)

Current value calculated using data at least 15 minutes delayed. Source: Interactive Investor.


April 15 Update

When is this going to be updated?
it should have been April 15th


not sure about etf's for income.personally i have found their dividends seem to bounce around and dont seem to grow(see SEDY) and arent as reliable as either unit trusts or inv trusts.
at least with an inv trust you can go along to the agm and complain if you dont like the way the trust is being run.


Yes I agree my experience is much the same. I much prefer investment trusts, and unit trusts to a smaller degree. ETF's seem rather opaque to me and when you call their helplines it's difficult to get any response to queries about performance.


You wouldn't know it existed would you?
Strange the way IFAs/CFAs continue down the same path even when they know it isn't the right course for their clients

As far as I can see, ETFs and ITs are structurally a better bet for investors than OIECS/UTs etc. the fee structure is better, the performance of the same holding held by the different vehicles would be better in the traded vehicles etc

So, why all these funds?


I second above. Plus can you add a date when and where changes additions are made. The portfolio approach looks attractive as it is actively adjusted to reflect the marketplace. Furthermore consider its offer as a packaged product by iii.

Year on year performance

Is it possible to publish the performance of this portfolio on a year-by-year basis since it's inception? That way, prospective investors such as myself can invest "today" with some confidence of general performance?

Post new comment

By submitting this form, you accept the Mollom privacy policy.