Update on recent investments

This is a bit late (even by my usual standards), but, hey, I'm retired.

Over the last few weeks I have added the following to the private portfolio:

1. Genesis Energy (NZX: GNE): I subscribed on the IPO at NZD1.55 on the basis that a 10% projected dividend yield + a 1 for 15 loyalty bonus if held for a year was more than enough to overcome prevailing political risk and the medium term run down of the Kupe oil field;

2. National Australia Bank (ASX: NAB): this is the smallest of the big four Australian banks and sells on the lowest multiples. Given the bank's rather patchy track record and its problems in the UK, there is good reason for that. However as a yield proposition and with the possibility of an uplift if/when the UK business is sorted out, this is one I am comfortable putting in the bottom draw. I paid AUD35.56 per share;

3. Hellaby Holdings (NZX: HBY): this is a mid-cap (for New Zealand) company which holds a number of industrial companies of which auto-parts and services is the largest. A trailing 4.7% dividend yield which I hope will grow over time is the main attraction of this company. I paid NZD3.05 per share.