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Share / Fund Purchases in the Period
In early April, I again topped up my holding in MYI.L, making it the fifth top-up of this particular investment trust since the slump began back in February.
Since then, I've bought nothing more except for the automatic reinvestments of all the dividend cash received.
Share / Fund Sales in the Period
None
Passive Income Index
Currently stands at 601.4, representing 45.3% so far of the total income from last year. So behind the nominal 50% at this half-yearly point if I'm hoping to receive the same passive income as in 2019.
At the start of the year, I'd have said merely reaching 2019 income levels again in 2020 was a very unambitious target, but now it looks like it's going to be close !
However, there is still time to beat last year's income. Assuming that most of the underlying investments within my funds will continue to pay dividends, then my holdings have been significantly increased by the buying spree earlier in the year. August and November will be the best months for further dividend payments during the remainder of 2020.
Commentary
After the Q1 debacle, it's been quite a turnaround this quarter with increases in the portfolio valuation in all three months. We're currently back to January 2020 valuation levels but that's also been helped by regular monthly employer's pension contributions and late additions to the 2019-2020 ISA pot in February & March.
In early June, when the FTSE100 approached 6,500 for a few days, we were probably back to all-time portfolio highs, but that spike didn't last long. The FTSE100 is still 18.2% down year-to-date (excluding dividends), but the portfolio investment return is just 3.9% down (including dividends).
I haven't bought much at all this quarter, despite my earlier plans for investing more heavily during the slump. Having said that, the purchases I've made since February represent >15% of the current portfolio valuation, although I think I've made enough top-ups of my existing holdings for now - and there are just no new funds or even general themes that particularly appeal to me at present.
So it's probably time to watch and wait to see if this market recovery has legs. I think I'll also need to widen the scope of my watchlist, especially if further dividend cuts begin to bite - in the last review I was totally wrong about Shell !
And for as long as I can remember, I've always automatically reinvested dividend cash into the same shares / funds from which the payments were generated. I think this still makes sense during a prolonged period of depressed valuations, but if we ever get back to 'normal' then I'll likely stop these automatic purchases and invest the distributed cash into different funds instead - assuming of course I can find something new that I think has more potential.
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