Performance Indicators / Dividends
- YTD Time weighted return: 18.20%
- XIRR since portfolio inception in 2013: 15.93%
- Dividends collected: SGD 3,021.11
- SingTel: SGD 663.40
Best. June. Ever.
The market did a massive 180 in June after the correction in May, with the US market posting the best June performance in 50 years. My personal portfolio would have surged to all time highs if I had not withdrawn significant sums (more on that later). It still did very well in spite of withdrawals to settle slightly down m-o-m at $157,281.
My portfolio value fell by about $5k which comprised of net capital withdrawals of about $12k and offset by month on month gains of about $7k.
The main reason for significant capital withdrawals is to anticipation of upcoming expenses related to my Masters Programme – mainly laptop and tuition fees. But for these withdrawals, I should have been looking at a portfolio all time high value in excess of $170k this month.
The portfolio across the board contributed to month on month gains, with some significant contributions from SingTel, Frasers L&I Trust, Capitaland Mall Trust and Avenue Therapeutics.
Significant news relating to my portfolio this month include:
- Capitaland Mall Trust
- Capitaland Retail China Trust
- Announces proposed acquisition of 3 malls from Capitaland. Likely preferential offering to follow.
- Starhill Global REIT
- Announced results of Toshin rent review, master lease rent to remain unchanged.
- Avenue Therapeutics
- Positive 2nd Phase 3 trial results for intravenous Tramadol clears path to file for FDA approval by year end.
Largely positive news, except for Starhill Global REIT’s Toshin rent review.
Transactions this month
This month saw many transactions, partly to facilitate capital withdrawal as well as reduce/exit weaker counters. Here are the significant transactions:
- Exited Keppel Corp. This is one of the stocks that I’ve kept for way too long, just for the sake of diversification. Owning this counter has taught me many lessons about catching a falling knife, about owning cyclical companies and now, holding on to stinkers for way too long. While I did not lose money over the 3 years of owning the stock, the capital could have been better deployed elsewhere.
- Significantly reduced my position in Starhill Global REIT. The Toshin rent review was a significant part of my investment thesis. The negative result pushed me to significantly reduce my SGR holdings. I was also looking to go more defensive as Orchard Road malls will be affected more significantly in an economic downturn. Will hold the remaining position as a “keep me interested” position and AGM ticket.
- Added a bit of Avenue Therapeutics. This is my only position in my holdings that’s highly speculative. That said, I like the risk-reward of this company. The thesis will play out the end of 2020 and is agnostic to economic factors mostly.
- Subscribed to $5,000 of Astrea V, which I flipped on day 1 for a quick 3+% return for pressing a few buttons.
Outlook and some thoughts
I’m sitting on a lot of unrealised gains at the moment, which is a first world problem I know. Having already done some selling this month, some of my positions (SingTel and Frasers L&I Trust) have become lopsided in weight as a result. I’ll be looking to add positions if opportunities present themselves and maybe reduce my SingTel position depending on where the share price moves ahead of the upcoming Ex-Dividend date in end July.
Will be seeing what happens for the Trump-Xi G20 meeting today. Don’t expect much to get done, but you may never know.
Blog changes and reader appreciation
I embarked on self-hosting of my blog after Chinese New Year and have been experimenting extensively on the blog layout, SEO and plugins.
Resources section and S-REIT dashboards
I’ve unveiled the Resources section and S-REIT Dashboards last week. Read more about it here.
I started this blog hoping that somebody will be interested in reading what a small fry like me has to say about the markets and investments. As such, I’m always thankful that there are people who see value in my content and subscribe to my blog or like my Facebook page.
To the 4 and 26 people who subscribed to my blog and liked my Facebook page respectively in June, welcome and hope you learnt something from me. Do feel free to reach out to me via email if you have any queries. I’m no investment guru but I’ll try my best to answer them to the best of my ability 🙂
Past Portfolio updates: