“Where did all the growth stocks go?” Editor Ben Hobson’s feature last week on growth strategies for subdued markets really resonated with me.

As I’ve commented before, my SIF strategy has really struggled in recent months. At one point, only one UK share passed all of my screening rules. Ben’s piece explains why many of the Guru growth strategies followed by Stockopedia have performed poorly in recent months, becoming unusually concentrated in just a few stocks.

I’m happy to be in such respected company. But there are signs of improvements. My screening results are gradually expanding. Unfortunately there still aren’t any stocks I can consider buying.

Instead, I’ve decided to bring forward this month’s coverage of my International SIF. This is a model portfolio that’s attempting to replicate the success of the UK SIF by investing overseas. So far, results have been poor. But I’m refining the portfolio’s geographical allocation and hoping to see some better results going forward.

This week I’m going to look at stocks due to be sold from the International SIF. I’m also going to revisit previous results to see how exchange rates have affected my returns so far. The figures may surprise you. They did me.

Stocks on the block

My trading rules for the International SIF mean that I buy and sell stocks in alternate months. February was a buying month, so March is a selling month. This means that I must review stocks held for 10 months or more. Four companies meet this criteria:

  • Ence Energia Y Celulosa SA (MCE:ENC) - The Spanish pulp mill operator has been a winner for me over the last year. Should I keep holding?

  • Tianneng Power International (HKG:819) - This Hong Kong-listed battery maker has been a poor buy. But a StockRank of 98 suggests things could improve.

  • Mytilineos Holdings SA (ATH:MYTIL) - A Greek industrial conglomerate with a broad range of interests.

  • Keller Group (LON:KLR) - This FTSE 250-listed groundworks specialist seemed like a good buy to me, but has fallen prey to classic sector problems.

Ence Energia Y Celulosa SA (MCE:ENC)

Original coverage 06/03/18

This £1.3bn pulp mill operator appears to have issued a strong set of annual figures recently. According to Thomson Reuters, net profit rose by 41pc to €129.1m in…

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