I am happy to report another year of double digit returns and also a year of slight outperformance relative to the MSCI World Index. A couple of my old favourites, Berkshire Hathaway and Linear Technology played a significant part in this good performance as both are top 10 holdings. I should also mention a star from 2015 that also had a great 2016 and that was Total Produce.
I added one new holding to the portfolio and I finally sold out of the small holding I had in a Japan Index ETF and therefore I continued the policy of low overall turnover.
I will be delighted if I have another reasonable year in 2017 as this will give me a ten year track record that although not spectacular enough to attract the attention of Warren Buffett, at least it will mean I have not embarrassed myself. Watch this space!
|Directors:|| Kenneth Power (Managing) B.Comm, MBS, ASIP, Regular Member of the CFA Institute.