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Portfolio @ June 2020

July 5, 2020 By KK

Cash / SRS Portfolio

Performance Indicators / Dividends

  • YTD Time weighted return: -12.53%
  • XIRR since portfolio inception in 2013: 17.63%
  • Dividends collected: SGD 4,001.84
  • Cum-Dividend: NIL

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Portfolio Review

June was a roller coaster month as retail exuberance in early June gave way to renewed coronavirus and recession worries towards the end of the month.

Overall portfolio value was flattish month on month at $302,573, managing to stay above the psychological level of $300k. Small losses were largely led by USD denominated counters while offset by gains in my Chinese tech stocks.

Portfolio Transactions

Made very small moves in June mainly around minor re-balancing.

  • Exited Singtel – I’ve been looking to exit for the longest time, but never really pull the trigger thanks to poor valuation. On hindsight, its probably my fault for not exiting earlier. Finally decided to cut my losses and rotate into higher quality counters with better growth prospects.
  • Trimmed Frasers Logistics and Commercial Trust – It returned to prior highs, prompting me to take my profits off the table.
  • Added more Alibaba (HKSE:9988) – This is more of a tactical move as I see Chinese tech being relatively undervalued compared to US counterparts. Its also driven by my desire to gain more Chinese exposure.
  • Added Mapletree NAC Trust – Was one of the few large cap REITs still lagging the market in early June. With the certainty provided by the new national security law and anecdotal evidence of returning crowds, I took a small bet on this counter.

Earnings and dividends season starts once again in July. Will be interested to see the full extent of the damage done by Covid-19 in Q2, with the prospect of some dividend payouts.

Looking at my portfolio, it is once again imbalanced towards REITs. As such, I’ll be on the hunt for growth stocks again and maybe look to take profits on weaker REITs that hit my target price.

As usual, this is not a call to buy or sell securities and its just sharing my own thought process for your information. Please do your own due diligence.


Endowus CPF OA Portfolio

As you may know, I’ve started investing my CPF OA funds with Endowus. This month was nothing special, just my regular monthly top up of $1000. My portfolio is up 5.16% for the year, so not fantastic but still in the green despite the volatility.

As a side note, Endowus has launched their new cash management product last week. I’ve not had the time to go through the material in detail, but if you’re interested, check it out here.

If you want to learn more about Endowus, do check out my review (Cash/SRS portfolio review to be updated). Also, if you’re interested in opening an account, do feel free to sign up through my referral link.


SG General Election 2020

Election “fever” is here, although I dont really feel it as its still pretty much WFH for me. I watched the political debate online and I’m fascinated by the positions the opposition parties took:

  • WP – PAP-like direction with subtle leftward shifts. Not sure if that means they have no position or a calculated move to tread the middle ground. Undoubtedly, a smart move though given the minimal effort required haha.
  • SDP – 4 Yes 1 No campaign. Basically a loudhailer of all the grievances people have. CSJ was jebaited during the debate though, as he went into a rant that didn’t address the question put to him.
  • PSP – Deny the PAP a super majority. Well if my math is right, that’s not going to happen by any stretch of the imagination.

Honestly, I wasn’t that impressed with the quality of the debate. Oh well, still long way to go for constructive discourse in Singapore politics. I generally dont comment on politics, so I’ll leave it at that.

For a fun read, I’ll direct you to the Teh Tarik Party Manifesto though haha. Quite well written for a joke manifesto.

Reader Appreciation

My Facebook page crossed 400 likes this month! Thanks for the all the support. As usual, to the 4 and 33 people who subscribed to my blog and liked my Facebook page respectively since my last portfolio update, welcome. Feel free to reach out via email or Facebook. I’m usually quite responsive as readers can attest to. Hope that you have found my blog content useful 🙂

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Past updates:

May 2020
April 2020
March 2020
February 2020
January 2020
2019 Performance Scorecard
2018 Performance Scorecard
2017 Performance Scorecard

Happy Hunting,
KK

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