On a predetermined day of each year [5 April]. All Mitre Investments assets will be reinvested, in equal currency amounts, in the top 10 high dividend yield [dividend / share price * 100] companies, in the FT 30 index.
When the cash holdings reaches a predetermined level following the payment of month subscriptions or the receipt of dividends, it shall be invested in the lowest value stock holding .
Bide time patiently and one year later, repeat the process.
The club have made 2 exceptions from the rule above in Royal Bank of Scotland Plc and Lloyds TSB Group Plc. The club decided to hold these shares when they fell out of the top 10 in April 2009.
The current portfolio [with the div yield as of 29 March 09] is as follows.
BT - 20.1, Man Group - 16.0, BP - 9.0, Tate and Lyle - 8.9, M&S - 8.5, Ladbrooks - 7.5, 3i - 6.6, GKN - 6.6, Vodafone - 6.5 and National Grid 6.4.
So, If the share club had assets of £100, it would buy £10 worth [less dealing costs] of each of the 10 shares selected by the formula.
At the end of the year all shares not in the formula any more are sold, and the assets are again distributed evenly across all 10.
Bide time patiently and one year later, repeat the process.
The club have made 2 exceptions from the rule above in Royal Bank of Scotland Plc and Lloyds TSB Group Plc. The club decided to hold these shares when they fell out of the top 10 in April 2009.
The current portfolio [with the div yield as of 29 March 09] is as follows.
BT - 20.1, Man Group - 16.0, BP - 9.0, Tate and Lyle - 8.9, M&S - 8.5, Ladbrooks - 7.5, 3i - 6.6, GKN - 6.6, Vodafone - 6.5 and National Grid 6.4.
So, If the share club had assets of £100, it would buy £10 worth [less dealing costs] of each of the 10 shares selected by the formula.
At the end of the year all shares not in the formula any more are sold, and the assets are again distributed evenly across all 10.
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