Performance Review
Please see the table above for full details.

• The good start to the year for the UK stock market continued in February
  
• Compound Income Portfolio broadly in line again this month & YTD
  
• Retuns behind the FTSE All Share over 1 & 2 years but well ahead over more meaningful 3, 5 & 7+ years since inception
  

Portfolio Review
Please see the Fact Sheet below for:

• Top 10 Holdings
• Top & bottom 3 contributors
• Last months transactions
• Sector exposures
  

Summary & Conclusion

• A good start to the year for equity markets and for the Compound Income Scores Portfolio.
• Equity investors seem to be banking on a soft landing or a less bad than expected recession in the US & elsewhere given recent economic statistics.
  
• This has led to bond yields rising again as more rate rises & rates staying higher for longer now seems possible.