Our Income Portfolio was drastically changed last year in response to the pandemic. Let’s assess how much good those changes have done us. The biggest shake-up was in April, when we sold the five individual shares that had cut their dividends in response to the virus, or seemed likely to, and replaced them with five investment trusts. In terms of missed opportunity for capital gains the changes were disastrous: the share prices of all five of the holdings sold have soared (Ten Entertainment by 14.4pc, ULS Technology by 82.7pc, Renew Holdings by 28.6pc, OneSavings Bank by 101pc and Crest Nicholson by 32.8pc).