Stories And Journals | Boon's Fund Recap - Year End 2023! +9.7% Return Vs +3.8% For FTSE All-Share

6th Jan by Boon

9 comments 704 reads

2023 Performance +9.7% vs +3.8% FTSE All-Share Index

2022 Performance +12.0% vs -3.4%

2021 Performance +21.6% vs +14.6%

Total 3-year return of +49% vs +15%

See all the previous BBB Monthly Recaps here.

2023 Performance Overview

What an end to the year it has been! Up until end-Nov, the Boon Fund was having a struggling year, barely break-even and hugging the FTSE All-Share performance. However, December saw my best-ever monthly gain, nearly +11%. As a result, I end the year up +9.7%, comfortably beating the FTSE All-Share benchmark of +3.8%.

This outperformance was not as much as in 2022, but marks three rows in a year of outperforming the FTSE All-Share:

6.7% outperformance in 2021
15.4% in 2022
5.8% in 2023

The brings my cumulative 3-year return of +49%, compared to the FTSE All-Share's return of +15%. Not bad at all. My goal with the Boon Fund is to have a minimum 8% a year outperformance, to justify the time spent actively picking shares. I can safely say that I have cleared this hurdle in the last three years, on a 3yr average basis.

Going into 2024...

I am going to be continue writing about The Boon Fund, as I have found that the rigour of doing so over the last three years has made me a better investor. Having my performance, and trading, under the public scrutiny gives me that motivation to put in the time, effort, and mental rigour to make sure I'm making the right decisions.

Stockopedia has been amazing in allowing me to quickly get up and running in writing about the Boon Fund and sharing it with you all. However, I think I am outgrowing the publishing capabilities on Stockopedia. It is frustrating not to get notifications of comments, or being able to tag more than X number of tickers, of not being able to share my content with friends & family outside of Stockopedia.

I have decided to continue to write about the Boon Fund, but on a more robust platform. I will be publishing on Substack (you can find the link in my bio) going forwards.

For Stockopedia, I will continue to post quarterly summary articles, for those that don't use Substack.

On Substack, I have decided to go back to regular posting monthly performances and portfolio compositions, as well as in-depth posts on each Buy & Sell that I do. If you…

Unlock with Email

Unlock with Google

Already have an account?
Login here

TB_Investor

6th Jan

Curious as to why you wouldn’t use the FTSE All Share Total Return performance (includes dividends not just share price changes). Surely any benchmark we each choose to compare ourselves too should be Total return?
happy for people to educate me here, as I may be wrong in my thinking

Boon

I'm using the FTSE All-Share index (without Total Return) because of ease... it is one of only two available "benchmarks" for when you create a Folio in Stockopedia....

Rusty2

Do your returns inc. dividends?

Some of yours are paying around 8-10% dividends, I hold also.

Begbies Traynor (LON:BEG) I hold, has been disappointing.

7th Jan

I get you, I have to go elsewhere to find the TR % for the year. But it is a fairer comparison to your chosen benchmark as your holdings will include divis.
Anyway congrats on your year, whether TR or not you still outperformed the market so well done. Good luck in 2024

Stockopedia folios don't include dividends, unless you add them manually. Even the income Guru screens don't include dividends.

I track my performance in excel tbf, I’ve got holdings in areas (like Fundsmith) that I can’t add to a Folio so manually have to track (would love for Stocko to be able to sort this). My TR is then compared to the TR of my chosen index (All Share)

Yes - my returns do include dividends, but for 2023 as a whole, the dividend return was just under 2%. Still a small amount overall. Dividends were much smaller part of my portfolio returns in 2022, 2021.

I'm going to submit a suggestion ticket to Stocko. If their portfolios allow the addition of dividends to track Total Return, then they should at least offer benchmarks that also are TR.

I get that I can manually set it up myself in Excel. But then why am I paying for Stockopedia and its tools...

On Begbies Traynor (LON:BEG) I've been thinking long and hard whether to keep holding or sell. I don't think there is much downside risk to the price, which is why I'm still holding. But the upside seems predicated on "jam tomorrow" situation of earnout payments (to past equity owners and management) ending, but the revenues continuing (still a big IF and will be very hard to tell).

Then there is the whole insolvency market, which has grown modestly this year, but the growth rate was disappointing. Especially in the more lucrative end of administrations, forced liquidations. But as always, when the flood comes, it won't be a trickle, but a tsunami...

So while SP downside might be limited, I think upside might be too, at least in the next 6 months. Given the muted growth in insolvency volumes, and also management keep kicking the "jam tomorrow" can further down with each new acquisition. Growth vs immediate profitability. But the market doesn't seem to want that and keeps rating it at sub-18,20 PE.

(I hold in the Boon Fund)

10th Mar

Summary up till end-Feb! I will post an article on Stocko for Q1, otherwise details for Jan & Feb are on Substack.

YTD to end Feb: -1.6% vs FTSE All-Share -0.8%

Sold all - Zytronic (LON:ZYT) - at the start of Feb. Before the profit warning came out.

Sold partial - System1 (LON:SYS1) - at the start of Feb. Top sliced some strong gains. Holding out for 450p+ for the rest.

Sold all - Camellia (LON:CAM) - in Jan. Lost faith in management executing a turnaround, asset realisation.

New buy - Comptoir (LON:COM) - Middle eastern cuisine is one of the better performing sectors of restaurants, and their refreshed format, new management, and expansion optimism intrigues me. A very contrarian play.

Direct Line Insurance (LON:DLG), my largest position, is pleasingly in play as a takeover target. I think anything less than a 250p offer would be a travesty, and nearer to 300p could be where we end up.

Boon's Fund Recap - Year End 2023! +9.7% return vs +3.8% for FTSE All-Share

2023 Performance Overview

Going into 2024...

Unlock the rest of this article with a 14 day trial

About the Author

Boon

9 comments

Unlock the metrics for all these stocks and more...

Unlock the metrics for all these stocks and more...