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Growth Portfolio 2

September 2005

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Another good month for the portfolio, with a number of constituents reaching new highs helping to outperform the benchmarks. Even more remarkable is the out performance over recent months given that the portfolio holds no oil shares. We don't think the oil price can climb upwards forever although there is likely to be one last hurra and we haven't seen it yet. It will also provide hardship for many energy consuming companies. Back in June, we said that we expected the fastest growth to come from those stocks with a strong American influence so it is no majors surprise to see further strength in NETeller (results early September),March Networks (31 August) and BATM (8 September). Trawling amongst the plethora of new issues, this mo ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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