Another bid "hit" for the SIPP - Friends Life to AVIVA

The SIPP has managed to find another company that has become a bid target - Friends Life Group (FLG) is subject to interest from AVIVA valuing the company in the region of 370-400.
Between June and October this year, I've purchased 2900 shares in Friends Life (FLG) at a cost of £9,005.35, or 310 per share (on average).
This afternoon, I've sold off the entire holding of 2900 shares and recovered £10,671.40 after commission and fees which has realised a profit of £1,666.05 or 18%.
I can't see a further increase in the offer coming up as much of the "press" comment hasn't been in favour of a merger of the companies and, if the bid collapses, it is likely to have an adverse affect on Friend Life. I'm a "bird-in-the-hand" man, and 18% profit in a few months looks like good business to me.

This has provided me with a significant cash balance of £15,975 which will allow me to take advantage of any reduced prices in the companies in which I already hold shareholdings; or other buying opportunities.

Of my shareholdings in:-
Booker Group (BOK) purchased at an average cost of 124 per share, continues to grow in value and today stands at 145 per share.
GlaxoSmithKline plc (GSK) purchased at an average cost of 1406 per share, also continues to grow in value and today stands at 1467 per share.

 

SIPP treading water

The past couple of months has been a bit of a hairy ride for the SIPP.
Thankfully, the damage to the SIPP has not been too great and the value has remained fairly static around £76,000.
I've undertaken a bit of re-structuring by selling the remainder of my holding in the Herald Investment Trust and my entire holdings in :-
Blackrock World Mining (Investment) Trust
Henderson European Focus (Investment) Trust, and
JPMorgan Mid Cap Investment Trust

This provided me with a significant cash balance which allowed me to take advantage of reduced prices in some of the companies in which I already held shareholdings.
My shareholdings in:-
Booker Group (BOK) was increased at a cost of 119.50 per share. This has worked well in my favour and the share price is currently standing at 140 per share.
GlaxoSmithKline plc (GSK) was increased at a cost of 1363.60 per share. This has also worked well in my favour and the share price is currently standing at 1417.50 per share.
Finally, Friends Life Group (FLG) was increased at a cost of 295.90 per share. This has also worked well in my favour and the share price is currently standing at 325.20 per share.

I've invested in a few new companies:-
Telit Communications Plc (TCM)
XChanging Plc (XCH), and
Scapa Group Plc (SCPA)

Scapa is a worldwide leading manufacturer of bonding products and adhesive components for applications in the electronics, healthcare, industrial and automotive markets, and I'm hopeful this company can continue to see significant growth.
Telit is in the business of providing wireless communications (the "internet of things") and is at the forefront of this technology.
Xchanging is an international provider of technology-enabled business processing, technology and procurement services to customers across many industry sectors.

A couple of my largest shareholdings have suffered corrections:-
OPAY is down from a high of 554 on 19th September 2014 to a price of 433 today (down 21.80%). I am not intending on reducing my shareholding in this company and will more likely be looking to increase my shareholding at around the 410-420 mark.
IPF traded at 634 on 6th June 2014, and is now at a price of 475 today (down 25.10%). Again, I have not intention of reducing my shareholding and - instead - I'm looking to increase my shareholding.  

You may have noticed that I've added a link  to another blog Iona's Young Money Blog.