S.A. Meacock & Co Limited has provided us with an update to the forecasts for syndicate 727. These are as follows:

 

Year of account

Capacity

Current forecast

Previous forecast

Change at midpoint

2020

£84,553,757

-2.0% to +7.0%

-2.0% to +7.0%

Unchanged

2021

£84,767,486

-8.0% to +12.0%

8.0% to +12.0%

Unchanged

 

The 2020 account and, to a lesser extent, the 2021 account are impacted by the volatility of the US dollar bond portfolio following increased interest rates and the war in Ukraine. The loss is unrealised and is mitigated by continuing coupon payments. The syndicate will receive full proceeds as and when bonds reach maturity, which will benefit the 2021 and 2022 accounts.

Forecast results are expressed as a percentage of syndicate capacity and are after all standard personal expenses but before members’ agents’ fees and charges.