Sometimes I’m very silly. Friends came for a rather chilly lunch in the garden last weekend and one dropped something.
It was within reach so I bent down to pick it up before Bertie did. The garden chair tipped over resulting in grazes and, worst of all, bruised ribs. Sometimes I’m sensible. This morning I bought some more Personal Assets Trust in an ISA (a tax free wrapper), topping up an existing holding. It is not the most exciting investment trust in the financial firmament but if it can clock up 7% a year on average I’m happy. Actually the most exciting thing is the picture of the chateau on their website.
It conveys a subliminal message: your savings are safe with PAT. However, as any historian knows, impregnable citadels often fall; from Troy to the Maginot Line, via Cathar castles. I try not to have more than 20% exposure to one fund manager. That’s why I am not topping up McInroy and Wood, excellent though they are, although their head office looks far from impregnable.
Another safe haven is American fund manager, Vanguard. Vanguard has only been available in the UK for ten years. You are in safe hands with Vanguard: low fees, conservative strategy, modest returns in excess of inflation. I don’t have any – too many sweets in the sweet shop. Here’s another of Sister Teresa’s favourites.