Q1 Portfolio/Performance update (+11%) Coronavirus and thoughts on where to go from here

Lots going on in the portfolio so I thought I would give a quick update.

At the end of Q1 I was +4% ytd, now (14/4/2020) I am c+11%.  This should be compared to the index which is -c22% now, at the low I was down c5% for the year. I feel a little bad posting this as lots of this is from non-usual (for me) trades… Many of these, I put on Twitter, unfortunately, I can’t post everything as it may move prices against me, particularly where I only sell half.  I know many of you are not twitter followers.  If you would like an e-mail when I tweet there is a service for that here.

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Rosetti ($RSTI) / $FEES – Russian Grids at bargain prices

I bought both of these the other week.  They are both very, very cheap and I believe are high quality assets that will rise in price as performance improves and Russia becomes a more ‘normal’ country.

 

FEES – Fsk Yees Pao is the largest grid company in Russia. 80% of the shares are owned by Rosetti, 88% of Rossetti shares are owned by the Russian government.  It is listed in Moscow and London via a GDR – I believe the Moscow shares are cheaper to buy and hold due to fees associated with the GDR. The likely yield is 8-10%.