When you invest a lump sum in any portfolio, there are charges and the spread which means your portfolio will start with a negative figure.

After the investment in the Snowball most of the Investment Trusts discount to NAV increased, which meant the Snowball was further underwater.

The value of the Snowball is of no interest as in ten/twenty years the plan is to only withdraw the dividends and pass on all the capital to your nearest and dearest, please remember your local cat and dog home for a small donation.

Nonetheless the value of the Snowball is now a positive figure and should increase as dividends are earned and re-invested, that is until the next market crash.

The plan is not to kill the goose that lays the golden eggs.