ICAP

ICAP latest NAV spiked to 1.13, as reported today. It's performance since launch has been pretty impressive, bearing in mind it's probably not able to invest in speculative stocks.

I consider my ICAP holdings a long-term "investment" and not part of my trading portfolio. Actually, it's more like "sub-contracting" a portion of my funds to a 3rd party manager, on the assumption that it will generate above market returns at far lower risk than I would take on under active trading. Naturally, with higher risk on the active trading side, I would target higher returns than the ICAP "investment", but so far ICAP has done better than any of my unit trusts.

iCapital has rated ICAP twice previously from "Buy below 1.10" to "Buy below 1.15". With the current NAV, I expect they will re-rate to "Buy below 1.20" soon. Seems funny why iCapital rates ICAP at all though, since they're related and independence would be questioned.

Anyway, it's worth considering for anyone willing to relieve some of the stress and "sub-contract" a portion of funds out to a professional manager. But it should be held long-term to fully realise its potential (magic of compounding), unless its price shoots up to ridiculously high levels or one needs the funds urgently for something else.

/ichithekiller