John Phelps's portfolio

Sunday 8 July 2012

We took advantage of recent weakness in the price of Aberdeen Asset Management to add the shares to our investment portfolios at our weekly review of progress on Wednesday morning.

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The decision followed a 10% drop in the company's share value over the past three months after some hefty share sales by chief executive Martin Gilbert were followed this week by a further divestment by Credit Suisse.

At the new price we feel that the shares offer exceptional value as the company moves to expand in the US and funds under management gain from the recent stock-market rally.We are spending £2000 of our notional cash reserves to add the shares to both our 2012 and 2010 portfolios.As usual, we have set a stop/loss level, some 10% below the current price, at which we adviser followers to consider selling.The move came after a highly successful week for the majority of our share tips which saw the total value of our four portfolios hit a new peak for the year.Some of the biggest gains came from previous under-performers including oil services groups Weir and Petrofac, employment agency Hays and retailers Marks & Spencer and Tesco.Our longstanding 2009 portfolio was a major beneficiary with its total value gaining 5% over the week to show an overall rise of 85.3%.The 2012 selections were not far behind with a rise of more than 4% and the other two portfolios also showed good gains.Royal Bank of Scotland was the only significant faller over the week and we sold our holding at the stop-loss level.The disposal crystallised a notional profit of 11% in less than a month and means we can sleep a little more easily at nights as we await the next developments in the widening banking scandal.

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