WatfordIANG, TPAPAHave not looked at these in detail.MXUPA...

Watford

IANG, TPAPA
Have not looked at these in detail.

MXUPA (Multiplex sites)
Returns in theory look good but were supposed to revert to Multiplex shares on maturity. These no longer exist. Are also perpetual securities so may never convert, although interest rate will go up in 2010 by 2%.

AAZPB
Australand is a property developer and too high a risk for return for me

GNSPA
If ANZ wont lend money to Guns I certainly will not. Unclear risk here for me.

BEPPA
Interest plus cap gain looks to be about 12% PA (very rough calc). Despite fall in BBP SP I think these are reasonable safe but is return commensurate with risk?

BNBG
These were a steal when they hit $40 but not so flash now their back up around $65. Missed out at $40 unfortunately.

Its a bit academic as none available, but one of mine is RRTHA. I managed to pick up 200 off-market at $40, which equates to an annualised return to 2010 of 100%. High Risk-High Return

My others are TIMPB, WFLPA and GTPGA.
For personal reasons most of my portfolio (about 70%) is tied up in cash until August which is a bit restrictive. I used to have FCLPA (a few years back) but have lost so much on FCL over the years that I now wont touch them with a barge pole. (personal prejudice, I know)

Neil