We took advantage of lower prices to snap up shares in heavyweights Standard Life and United Utilities when the stock market suffered a sharp relapse on Wednesday morning.
The notional purchases were both made for the 2011 portfolio which had been sitting on particularly large cash reserves after previous share disposals.
We also believe United Utilities offers a good two-way bet at its new lower price – it has promised inflation-busting increases to its already generous dividend and there are rumours of a possible takeover bid.
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