Personal Assets’ results for the year ended 30 April 2015 have been published and they show that the net asset value rose by 4.8% in capital terms vs. 3.9% for the FTSE All-Share Index. In price terms Personal Assets rose by 5.7% as they moved from a 0.6% discount to a 0.2% premium. The quarterly dividends for the year are expected to be 140p each – they have declared the first of these.
At 30 April 2015, liquidity was 59.9%. This included 22.1% in UK cash and cash equivalents and 37.8% in various classes of non-equity risk assets: 17.0% in US TIPS; 10.1% in Gold Bullion; 6.1% in overseas cash and cash equivalents; and 4.6% in UK Index-Linked Gilts. This compared to holdings as at 30 April 2014 of 19.2% in UK cash and cash equivalents and 36.8% in various classes of non-equity risk assets: 16.6% in US TIPS; 10.7% in Gold Bullion; 4.9% in overseas cash and cash equivalents; and 4.6% in UK Index-Linked Gilts. Turnover in the equity portfolio was just 7% as they sold Newmont and Newcrest Mining and added to positions in Diageo, Philip Morris and Sage.
PNL : Personal Assets maintains high liquidity levels