Excluding Assets from the Current Fund - Essay Example

RISK MANAGEMENT AND INVESTMENT PORTFOLIO al Affiliation) Key words: Principles, Competitors Executive Summary The mainobjective of the paper is making sure that the aim of the funds is achieved. The paper discusses the portfolios past performance and provides the risks vulnerable in the investment which might deter the objective realization. At the end of the paper, recommendations have been provided to encounter the portfolio’s challenges. It is evident that the performance of the stocks is better, but performs dismally compared to other stocks. I checked the portfolio seeing if there are any rebalancing needs that need to be done. I looked at the allocation by the end of April and late October to tally with the beginning of bad months and the beginning of best months (Elton & Gruber 1995). I changed the portfolio by taking the additional step to modify the number of shares and adding funds to the I already hold in the portfolio. There were few reasons to make the alterations in my portfolio starting with returns and performance of the individual stocks. Table of Contents Executive Summary 2 Table of Contents 3 1.Introduction 5 1.1Background of the fund 5 1.2Purpose of the fund 6 1.3 Structure of this report 6 2.Some Assumptions 6 3.Past Performance of the Fund 7 3.1 performance 7 3.2 Dividend 7 3.3 CAPM model and the return of the fund 8 3.4Other ratios 9 3.4.1 Sharpe ratio 9 3.4.2Treynor ratio 9 3.4.3Jensen’s alpha 10 3.5Comparison with the market return 10 4.Risk Analysis 10 5.Recommendations for the Fund 14 5.1 Features of the new portfolio 14 5.1.1 Higher annual return 14 5.1.2 Lower risk of the portfolio 14 5.1.3 Reconstruction 15 5.1.4 Investment literature 16 5.2 Excluding assets from the current fund 17 5.3 Addition of new investment Stocks to the Present Fund 18 5.4Overview of the new portfolio 18 6.Conclusion 19 References 21 Appendices 24 1. Introduction 1.1 Background of the fund The objective of the investment is to maximize the return and is found in UK. The fund comprises of the following; Barclays PLC, BG Group plc., Glencoe Xstrata PLC, Royal Dutch Shell Plc., Invensys PLC, Experian PLC, BHP Billiton PLC, Standard Chartered PLC, Old Mutual PLC, and ITV PLC. Additionally, there is 500,000 pounds in cash that need to be deposited, that earn 1 per cent annually since the inception date. Investments trust whose main goal is to generate income, faces the problem of managing all host of investments which have to be materialized using a lot of resources. There are two sets of study that alleviates the problem. First is the rules and mechanism that are defined for the needed tasks of schedule development and control schedule and its resource management. Additionally, the investment portfolios are described to allow maximization of portfolio, portfolio balancing, strategy alignment, and choosing the correct number of stocks. There is however a problem of management that I faced. This is attributed to the fact that formal an investment portfolio management method was used to carry out the investment. This problem is specifically called the push problem. Additionally, the release problem where the objective of portfolio is to deliver the investments that raises the value of investments. The objective can therefore be achieved by recommending a condition that has to be followed (Prime 2007). 1.2 Purpose of the fund The main objective of the investment fund is to maximize on the returns with low risk. Therefore, the investment needs to be focused on incomes that are stable like receipts having fixed income since they are less risky 1.3 Structure of this report The report starts with discussing and describing the past performance of the portfolio. It then discusses the analysis of the funds, which may hinder the investment from achieving its aim. At the end of the report, mitigations are provided based on the aim of the investment fund. 2. Some Assumptions The inception date is 1st January 2012 and the cut of date is 10th March 2014. The report will surpass the changes effect, trade cost, inflation, taxes, and commissions. The factors are assumed to be zero. Therefore, the returns from the investment will be lower that the real investment returns. Consequently, the inter-bank lending of one year is defined as the risk free rate and FTSE return is taken to be the market return rate. 3. Past Performance of the Fund The diagrams bellows shows the performance of the portfolio from different diameters. From the funds’ data, a lot of information can be gotten. 3.1 performance SYMBOL LAST PRICE   1 WK PERF 4 WK PERF 52 WK PERF   1W VS MKT 4WK VS MKT 52WK VS MKT   36m BETA 60m BETA BCS 16.70   0.2% 7.9% -6.6%   -1% 7% -21%   2.16 2.56   BG 80.11   -0.2% 1.4% 12.0%   -1% 0% -6%   1.04 0.87   BLT 11.70   0.3% -0.6% -13.9%   -1% -2% -28%   1.57 1.35   EXPGF 18.50   - - -   - - -   - -   ITVPF 3.20   - - -   - - -   - -   ODMUF 3.48   - - -   - - -   - -   RDS.B 80.23   -0.7% 2.9% 16.9%   -1% 2% -2%   1.14 1.19 The performance of the portfolio looks appealing to some level. From the portfolio, BCS record a higher return of 7.9 per cent. Conversely, the lowest portfolio includes EXP, ITV, and ODMUF having no recordings at all. Cumulatively, the performance of the portfolio is great because 50 per cent of the portfolio is appealing. 3.2 Dividend SYMBOL EX-DIV DIV RATE DIV YIELD PAYOUT RATIO DGR 3 YR DGR 5 YR DIV 5YR AVG DIV YID 5YR AVG BCS 02/19/14 0.90 5.4% 163% 64.5% 9.7% 41.0% 1.6%   BG 05/14/14 1.20 1.5% 74% 8.9% 9.5% 136.0% 1.5%   BLT 06/10/99 0.00 0.0% 0% 0.0% 0.0% 0.0% 0.0%   EXPGF - - - - - - - -   ITVPF - - - - - - - -   ODMUF - - - - - - - -   RDS.B 02/12/14 3.60 4.5% 0% 0.0% 0.0% 0.0% 0.0%   After the analysis of the security’s interest and dividend, some issuer’s information can be generated. The table above outlines the stock’s dividend yield and the bond’s flat yield. The parameters are computed by taking the security’s weighted average dividend yield. Based on the above performance the investment fund will outperform the industry in terms of dividend. From the income fund literature, when the dividend yield is higher, the investment fund proves to be a going concern. Conversely, when the dividend yield is high, it does not signify the dominance of the company in the market. 3.3 CAPM model and the return of the fund SYMBOL LAST PRICE CHG % CHG SHARES VALUE TODAYS GAIN CHG SINCE PUR % CHG SINCE PUR BCS 16.70 0.08 0.48% 100,000 1,670,000 8,000.00 - -   BG 80.11 0.12 0.15% 120,000 9,613,200 14,400.00 - -   BLT 11.70 0.07 0.60% 10,000 117,000 700.00 - -   EXPGF 18.50 0.39 2.14% 40,000 740,000 15,492.00 - -   ITVPF 3.20 0.00 0.00% 120,000 384,000 0.00 - -   ODMUF 3.48 0.00 0.00% 150,000 522,000 0.00 - -   RDS.B 80.23 -0.53 -0.66% 20,000 1,604,600 -10,600.00 - -   Total: 14,650,800 27,992.00 (0.19%) The returns of the investment fund and those of the securities are compared with CAPM model computation. Based on the model, beta is asset specific sensitivity compared to non-diversifiable. The beta of each stock is computed in reference to the data. In the second section, the free risk rate and market return is equivalent to FTSE shares and the lending rate for a one-year term. Therefore, the annual return of the portfolio can be computed which is lower than the portfolio’s annual return. 3.4 Other ratios 3.4.1 Sharpe ratio The Sharpe ratio measures the deviation excess return in an investment portfolio. The ratio caters for the idiosyncratic and systematic risks. The Sharpe ratio of the fund is 12.060 and this is portrayed to be a higher value. When the Sharpe ratio is higher, the higher the performance of the investment funds. Conversely, the ratio will not be pertinent of the annual return’s distribution is abnormal. 3.4.2 Treynor ratio The treynor ration of the investment fund is calculated to be 0.14. Meaning that the investment fund’s portfolio can receive a return equal to 0.14 for every market risk. When the ratio is higher, the performance of the investment fund is also higher. The limitation of the ratio is that no unsystematic risk is catered for. 3.4.3 Jensen’s alpha Jensen’s alpha is used in calculating the assets return or investment portfolio over a certain theoretical return. The table below shows that the alpha is computed to be 7 per cent. Meaning that the return of the investment fund is 7 per cent greater that theoretical return. The ratio has similar limitation of neglecting the unsystematic risk. 3.5 Comparison with the market return When using the 3-year data of FTSE data, the mean return for the investment is found to 4.5%. When compared to the investment annual return, the difference is quite big. When the variance of the investment fund is calculated, it is found to be 1.05%, which is higher than the investment’s portfolio variance. This means the investment volatility of the company is lower than the industry’s. 4. Risk Analysis Although the performance of the investment fund looks appealing, the portfolio has multiple risks that are a threat to the returns of the investment. The risk analysis of the investment fund is discussed below. Investments trust whose main goal is to generate income, faces the problem of managing all host of investments which have to be materialized using a lot of resources. There are two sets of study that alleviates the problem. First is the rules and mechanism that are defined for the needed tasks of schedule development and control schedule and its resource management. Additionally, the investment portfolios are described to allow maximization of portfolio, portfolio balancing, strategy alignment, and choosing the correct number of stocks. There is however a problem of management that I faced. This is attributed to the fact that formal an investment portfolio management method was used to carry out the investment. This problem is specifically called the push problem. Additionally, the release problem where the objective of portfolio is to deliver the investments that raises the value of investments. The objective can therefore be achieved by recommending a condition that has to be followed (Prime 2007). While risk is normally defined by different statistics, the wider risk definition to an investor is failing to attain the objective of its investment. There are three fundamental risks that can deter an investor from reaching his goals. There is a possibility of capital losses over the time frame of the investment called the capital risk. Another risk is the reinvestment rate risk; there is a risk to invest in a low rate of return, hence failing to attain total returns over the investment period sufficient in meeting the goal of the company. The portfolio is also liable to face the inflation risk, there is chance to lose the purchasing power leading from poor inflation adjusted returns. Various asset classes generally offer exposure to protection from various risks. There is a tradeoff between the kinds of risk. For instance in most settings, securities that are fixed offer protection against the capital risk, but may rise the exposure to inflation risk or reinvestment rate risk depending on the time of the stock and the economic environment, market, and interest. Conversely, the stocks generally offer good protection against the inflation risk and on a lower level the Reinvestment Rate Risk, but higher exposure to the Capital Risk. The risk management on the portfolio should concentrate on prioritizing the need of protecting against each and every risk. The below chart outlines the stock as one of the asset classes to offer the greatest exposure and protection to every portfolio risk. Nevertheless, the pertinent risk that faces the investors varies as the market industry changes over a period of time. The prudent risk management needs to focus to prioritize the need of protecting against the risks and understand the kind of risks that are higher under the present economic and market conditions. Increasing Risk Capital Risk Inflation Risk Reinvest. Rate Risk Stocks Stocks Stocks As defined above, the inflation risk is taken to mean the negative inflation adjusted return over a longer period of time leading to a lower purchasing power. Inflation risk can be a hurdle on investments with a longer period horizon. In general, stocks can offer protection against the inflation risk. Since, their prices have the ability of adjusting on account for the alterations in inflation. Additionally, stocks are good long-term investment since their long term returns are higher than other security portfolio (Prime 2007). Therefore, when the investments are allocated to stocks, there is likelihood to minimize exposure to inflation risk. In general, the inflation risk is a concern when investment is made on the fixed income securities in economies that have lower interest rates. When the interest rates continue to raise in future, the portfolio will face two problems; when the yields rises, the price of the stocks will reduce. Secondly, the investment will continue receiving similar coupon payments despite the interest payment purchasing power will continue declining as the rate of inflation rises. Therefore, the present interest rate condition and future expectation d the inflation needs to play a crucial role in finding the better asset allocation (Weaver 2001).  Generally, the portfolios need to focus on asset classes that are growth oriented to minimize the inflation risk exposure and the opportunity cost of the future. However, the exposure of the portfolio need to be diversified across the assets, with a higher concern on valued securities. The various changes on the portfolio is outlined in the following literature; Twice a year, I checked the portfolio seeing if there are any rebalancing needs that need to be done. I looked at the allocation by the end of April and late October to tally with the beginning of bad months and the beginning of best months (Elton & Gruber 1995). I changed the portfolio by taking the additional step to modify the number of shares I hold in the portfolio. There were few reasons to make the alterations in my portfolio starting with returns and performance of the individual stocks. When I selected the portfolio back in 2012, this means the balance started with a zero balance (Weaver 2001).  I also limited the number of shares because of the fee charges that runs the portfolio. When the portfolio balance grew from the investment returns, I increase the number of shares and changed the investment of the contributions. After passing the initial phase, I planned to tweak the investment so that they spread across the portfolio’s stock. I also gave a concern on the number of shares that strikes a perfect balance between ease management and diversification (Fabozzi 1989). I settled on 10 portfolios because it was easy to manage. The allocation I employed is 20% for each stock. Going through the fund’s list, I avoided investing on unpredictable outcomes like future inflation. Failing to strategize, my portfolio will rebalance if any of the stocks are below 15% or greater than 25% of the investment balance from my portfolio. 5. Recommendations for the Fund After the analysis of the past performance and the investment risk, the section provides recommendation for the investment fund and assesses the new portfolio in details. 5.1 Features of the new portfolio 5.1.1 Higher annual return When the new portfolio is compared to the current return, the return of the new portfolio is higher. Therefore, the aim of the fund and the new fund will record higher returns. 5.1.2 Lower risk of the portfolio The interrelation between the new portfolio’s assets should be lower and negative. Consequently, the new portfolio records a smaller standard deviation. Additionally, the level of beta is between zero and one. Subsequently, the assets having financial problems will not feature in the portfolio. 5.1.3 Reconstruction After considering the investment goal and financial situation, the future needs came after. During the reconstruction process, I maintained the diversification above all every scenario. It is not only important to own the securities from every class of assets; they must also be diversified within every class. I ensured that the holdings within the asset class are properly spread across the industry sector and their subclasses array. The investment can attain excellent diversification through the use of ETF and mutual funds. Those investment vehicles enabled the investment to obtain economies of scale that mangers enjoy. Generally, a portfolio that is well diversified is the best for long term growth of investments (Holmes 2002). It protects the assets from structural changes and large declines in the economy over a given period of time. The diversification of the portfolio was monitored, making the appropriate adjustment where needed. Therefore, for a successful reconstruction, appropriate asset allocation need to be determined, the second step is achieved the portfolio designed during the asset allocation. Then the portfolio weighting is reassessed. Here analysis and periodic rebalancing is done since the movements of the marker can cause the initial weightings to change. Assessing the actual asset allocation involves categorizing the investments and determining the values proportion to whole (Krause 2006).  The factors that are prone to change over time are the current financial situation, risk tolerance, and future needs. When the parameters changes, the amount of stock held will reduce. Or perhaps someone is willing to take risk and allocation of the assets need that a smaller proportion of the assets be held in riskier small cap stock. Basically, rebalancing needs to determine the kind of positions that are overweighed and those that are underweighted. The last stage is rebalancing strategically, ones the securities that require reduction are determined, and the securities that will be underweighted will be bought from the securities that will be overweighed. When the assets are sold to rebalance the portfolio, moments need to be considered on the implication of readjusting the portfolio (Cohen & Zinbarg 1967). Assuming the growth stocks’ investment has grown strongly over the past periods, significant capital gains of the taxes will be incurred. In this scenario it will be profitable to not invest funds on the asset class in future while continue contributing to asset classes. This will tend to reduce the growth stock weighing in the portfolio overtime without incurring the taxes of capital gains. Similarly, the security outlook needs to be considered. If it is suspected that the same overweighed stocks are ready to fall, selling will be the better option despite the implication of the taxes (Brentani 2004). 5.1.4 Investment literature I took the top-down approach, where the individual stock was selected and bought with an additional step in the process. The final stage for the step involved analysis of the individual stock from various perspectives (Elton & Gruber 2005). The fundamental analysis involved various measurements like dividend yield, return on equity, and P/E growth ratio to the ratio of growth. The crucial aspect of the individual analysis will be the firm’s growth potential over a certain period of time. Ideally, the investment will have to own stocks with higher growth potential since it will lead to a higher stock price. The technical analysis concentrated on the long term weekly performance, for the entry price. At this point, the stocks were chosen and the process of buying began ((Elton & Gruber 2005). The approach was important because it helped determining the ideal location for the portfolio. The approach uncovered the situation that looked appropriate for larger investments into equities. The ability of maintaining the investment from overinvesting in stocks during the drought market was a higher plus for the system. When the market was lower, the probability of selecting the winning investment went down dramatically despite the stocks meeting the required conditions (DeFusco 2007). Assuming the bottom-up system was used, the investment determined the kind of stock to be bought even before taking note of the market condition. This kind of approach could easily lead to over exposure to equities, and the selected portfolio will greatly be affected. Other benefits of the approach include the diversification among the top sectors and foreign markets. This is normally referred to as conversification since it is a mixture of diversification and concentration. Therefore, the top-down approach was used where the individual stock was selected and bought with an additional step in the process. Additionally, the fundamental analysis involved various measurements like dividend yield, return on equity, and P/E growth ratio to the ratio of growth (DeFusco 2007). 5.2 Excluding assets from the current fund Achieving the objective of the investment, some of the stocks will be removed from the portfolio. Experian PLC should be removed because the company’s annual return is the lowest. Additionally, the financial data of the firm has issues. The ROE and pre-tax profit are reducing which is not a good sign. Additionally, the company faces the risk outlined in the previous section. The second asset that needs to be removed is BHP Billiton PLC. The company records a lower annual return, when the asset is maintained in the portfolio, the portfolio will not achieve its aim. Conversely, the firm has not rejuvenated from the previous crisis. The situation is anticipated to last for a longer period of time. Old Mutual also needs to be removed from the list with a similar reason as Experian PLC. . 5.3 Addition of new investment Stocks to the Present Fund New investment fund will be added to the present fund in order to attain the aim of the investment. 5.4 Overview of the new portfolio The adjustments have been made to avoid the risks that are associated with the portfolio allocation. The new portfolio meets the aims of the portfolio by prioritizing the portfolio management and positioning them as value added (Bentley 2002). The management will be prioritizing the portfolio through investment and communication. This is the most effective way of shifting the portfolio mandate from the mandate to value addition. Additionally, more resources will dedicate to portfolio management based on time dedicated in managing the portfolio. I changed the portfolio by taking the additional step to modify the number of shares I hold in the portfolio. There were few reasons to make the alterations in my portfolio starting with returns and performance of the individual stocks. When I selected the portfolio back in 2012, this means the balance started with a zero balance. I also limited the number of shares because of the fee charges that runs the portfolio. When the portfolio balance grew from the investment returns, I increase the number of shares and changed the investment of the contributions. After passing the initial phase, I planned to tweak the investment so that they spread across the portfolio’s stock. I also gave a concern on the number of shares that strikes a perfect balance between ease management and diversification (Briston 2000)  The new performance is as shown below: SYMBOL LAST PRICE   1 WK PERF 4 WK PERF 52 WK PERF   1W VS MKT 4WK VS MKT 52WK VS MKT   36m BETA 60m BETA BCS 16.70   0.2% 7.9% -6.6%   -1% 7% -21%   2.16 2.56   BG 80.11   -0.2% 1.4% 12.0%   -1% 0% -6%   1.04 0.87   BP 49.04   0.3% 1.4% 16.2%   0% 0% -2%   1.56 1.79   HSBC 51.84   -0.6% 1.9% -4.5%   -1% 1% -20%   1.53 1.48   ITVPF 3.20   - - -   - - -   - -   RDS.B 80.23   -0.7% 2.9% 16.9%   -1% 2% -2%   1.14 1.19   TSC 13.70   -1.2% -3.4% 0.0%   -2% -5% -100%   0.00 0.00   6. Conclusion The main objective of the paper was making sure that the aims of the funds are achieved. The paper discussed the portfolios past performance and provided the risks vulnerable in the investment which might deter the objective realization. Recommendations have also been provided to encounter the portfolio’s challenges. It is evident that the performance of the stocks is better, but performs dismally compared to other stocks. The portfolio was analyzed to see if there are any rebalancing needs that need to be done. I looked at the allocation by the end of April and late October to tally with the beginning of bad months and the beginning of best months (Elton & Gruber 1995). I changed the portfolio by taking the additional step to add more funds and modify the number of shares is hold in the portfolio. References Arditti, F D 1967, ‘Risk and the required return on equity’, The Journal of Finance, Vol.22, No.1, pp.19-36. Bowyer, J. W. 2002. Investment analysis and management 4th ed. Homewood, Ill.: R.D. Irwin. Brentani, C. 2004. Portfolio management in practice. Oxford [England: Burlington, MA :. BP.2013BP In Iraqhttp://www.bp.com/sectiongenericarticle.do?categoryId=9031482&contentId=7057672 [accessed 04/19/2013]. Briston, R. J. 2000. The Stock Exchange and investment analysis,. London: Allen & Unwin. 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Appendices Dividends SYMBOL EX-DIV DIV RATE DIV YIELD PAYOUT RATIO DGR 3 YR DGR 5 YR DIV 5YR AVG DIV YID 5YR AVG BCS 02/19/14 0.90 5.4% 163% 64.5% 9.7% 41.0% 1.6%   BG 05/14/14 1.20 1.5% 74% 8.9% 9.5% 136.0% 1.5%   BLT 06/10/99 0.00 0.0% 0% 0.0% 0.0% 0.0% 0.0%   EXPGF - - - - - - - -   ITVPF - - - - - - - -   ODMUF - - - - - - - -   RDS.B 02/12/14 3.60 4.5% 0% 0.0% 0.0% 0.0% 0.0%   Profitability SYMBOL REV REV GROWTH NET INCM GROSS MRGN CASH FLOW FCF EPS ROE ROE VS IND ROA BCS 58B -8.7% -451M 0.0% 2,135M -45,480M 0.24 2.3% 37.1% 0.1%   BG 61B 8.0% 306M 5.4% 699M 1,384M 1.55 2.3% 50.0% 0.8%   BLT 0.91B -0.9% 35M 32.4% 82M 59M 0.70 22.1% 176.8% 4.0%   EXPGF - - - - - - - - - -   ITVPF - - - - - - - - - -   ODMUF - - - - - - - - - -   RDS.B 0.00B 0.0% - 0.0% 0.00M 0.00M 0.00 0.0% - 0.0%   Day Watch SYMBOL LAST PRICE CHG % CHG   VOLUME AVG VOL PREV CLOSE OPEN DAY RANGE 52 WK RANGE BCS 16.70 0.08 0.48%   1,682,487 3,004,800 16.62 16.67 16.64 - 16.73 15.32 - 19.59   BG 80.11 0.12 0.15%   830,429 1,000,800 79.99 79.97 79.53 - 80.29 67.20 - 84.18   BLT 11.70 0.07 0.60%   263,007 232,100 11.63 11.62 11.52 - 11.75 10.52 - 14.74   EXPGF 18.50 0.39 2.14%   2,192 - 18.11 18.51 18.50 - 18.60 0.00 - 18.60   ITVPF 3.20 0.00 0.00%   1,958 - 3.20 3.20 3.20 - 3.20 1.90 - 3.50   ODMUF 3.48 0.00 0.00%   125 - 3.48 3.48 3.48 - 3.48 0.00 - 3.48   RDS.B 80.23 -0.53 -0.66%   419,078 718,100 80.76 80.39 80.21 - 80.67 65.02 - 80.84   Holdings SYMBOL LAST PRICE CHG % CHG SHARES VALUE TODAYS GAIN CHG SINCE PUR % CHG SINCE PUR BCS 16.70 0.08 0.48% 100,000 1,670,000 8,000.00 - -   BG 80.11 0.12 0.15% 120,000 9,613,200 14,400.00 - -   BLT 11.70 0.07 0.60% 10,000 117,000 700.00 - -   EXPGF 18.50 0.39 2.14% 40,000 740,000 15,492.00 - -   ITVPF 3.20 0.00 0.00% 120,000 384,000 0.00 - -   ODMUF 3.48 0.00 0.00% 150,000 522,000 0.00 - -   RDS.B 80.23 -0.53 -0.66% 20,000 1,604,600 -10,600.00 - -   Total: 14,650,800 27,992.00 (0.19%) - Momentum SYMBOL LAST PRICE   10d SMA 50d SMA 200d SMA   VS 50d SMA VS 200d SMA   SHORT RATIO SHORT FLOAT LIQ RATIO WEEK VOL / SHS BCS 16.70   16.16 16.27 17.25   3% -3%   2.8 0.0% 45M 0.1%   BG 80.11   79.83 79.11 78.62   1% 2%   3.2 0.0% 96M 0.8%   BLT 11.70   11.62 12.07 12.68   -3% -8%   5.3 0.0% 2.79M 0.9%   EXPGF 18.50   - - -   - -   - - - -   ITVPF 3.20   - - -   - -   - - - -   ODMUF 3.48   - - -   - -   - - - -   RDS.B 80.23   79.65 77.94 72.10   3% 11%   7.8 0.0% 74M 0.0%   Overview of the new portfolio SYMBOL LAST PRICE CHG % CHG SHARES VALUE TODAYS GAIN CHG SINCE PUR % CHG SINCE PUR BCS 16.70 0.08 0.48% 100,000 1,670,000 8,000.00 - -   BG 80.11 0.12 0.15% 120,000 9,613,200 14,400.00 - -   BP 49.04 0.01 0.02% 200,000 9,808,000 2,000.00 - -   HSBC 51.84 -0.25 -0.48% 300,000 15,552,000 75,000.00 - -   ITVPF 3.20 0.00 0.00% 120,000 384,000 0.00 - -   RDS.B 80.23 -0.53 -0.66% 20,000 1,604,600 10,600.00 - -   TSC 13.70 -0.06 -0.44% 50,000 685,000 3,000.00 - -   Total: 39,316,800 64,200.00 (0.16%) Read More