- Margin Share Trading 15.57%
- Warrants and Shares 15.08%
- Allocated pension 10.65%
However after allowing for expenses mainly margin interest and trading fees my net trading performance was a very modest 5.63% This is about the same result I would have received from a bank term deposit so in all a very disappointing year. My main gains came from from trades in CBA,WBC, BHP, SPN in the first half of the year. TLS proved a drain on performance with dividend income barely exceeding the loss in capital value. UXC ended the year at very low levels however I broke even for the year while increasing exposure substantially. QBE has been a losing trade as has AMP.
My allocated pension tends to trace market performance. The gross performance for the year was:
- Cash 4.33%
- Balanced 10.28%
- Conservative 9.85%
- Growth 19.17%
This was a combined 10.65% gain. However after the draw down of my pension the net gain was a 2.71% capital increase. The pension is spread across all asset classes with a significant proportion in cash and fixed interest.
2010/11 financial year opens in weakness and with a great amount of negative sentiment. I expect that there will be a gradual improvement in sentiment and this year should be mildly positive.