All four of our portfolios were hit, with the latest 2014 selections seeing overall gains trimmed by 2.1%. Much of the damage was caused by a sharp fall in the price of fluid controls and air conditioning giant IMI after it warned of a possible squeeze on margins, while alternative energy supplier Infinis suffered from the unseasonal mild weather across much of the UK. Only Scottish technical minnow Smart Metering was able to buck the general trend with a small gain in anticipation of good news at tomorrow's results presentation.
The 2012 portfolio suffered a similar fall of around 2%, with coal and biomass power generator Drax knocked by concerns over the effects of an early spring, and safety equipment specialist Halma attracting profit-taking after its recent good run. However, a rise in Perth-based Stagecoach limited the overall loss.
The 2013 and 2011 portfolios fared rather better with losses of just more than 1%, helped by solid performances from the likes of housebuilder Galliford Try, Royal Mail and the Home Retail Group.
Engineer giant GKN, however, caused fresh concern with a further drop.