Portfolio Review 3Q18

Currently holding on to 12 counters (see Portfolio Review 1Q10 for 1-3, Portfolio Review 2Q10 for 4, Portfolio Review 4Q10 for 5, Portfolio Review 4Q13 for 6, Portfolio Review 2Q14 for 7, Portfolio Review 2Q15 for 8, Portfolio Review 2Q16 for 9, Portfolio Review 3Q16 for 10, Portfolio Review 4Q16 for 11, and Portfolio Review 4Q17 for 12):

1. FrasersCT
2. PLife
3. Starhill
4. Cache
5. First REIT
6. CDL HTrust 
7. OUE HTrust 
8. FCL 3.65%b
9. Hyflux 6%Perp
10. FCOT
11. AIMSAMP
12. LMIRT

Next portfolio review due after 31 December 2018.

Note to self: only simple P/L calculated. Continued uncertainty over Hyflux, especially as currently under court protection, i.e. 6-month moratorium from creditors until year end. US-China trade wars looming as well, causing a drag on stocks.

Portfolio Review 2Q18

Currently holding on to 12 counters (see Portfolio Review 1Q10 for 1-3, Portfolio Review 2Q10 for 4, Portfolio Review 4Q10 for 5, Portfolio Review 4Q13 for 6, Portfolio Review 2Q14 for 7, Portfolio Review 2Q15 for 8, Portfolio Review 2Q16 for 9, Portfolio Review 3Q16 for 10, Portfolio Review 4Q16 for 11, and Portfolio Review 4Q17 for 12):

1. FrasersCT
2. PLife
3. Starhill
4. Cache
5. First REIT
6. CDL HTrust 
7. OUE HTrust 
8. FCL 3.65%b
9. Hyflux 6%Perp
10. FCOT
11. AIMSAMP
12. LMIRT

Next portfolio review due after 30 September 2018.

Note to self: only simple P/L calculated. Uncertainty over Hyflux, especially as currently under court protection, i.e. 6-month moratorium from creditors until year end.

Portfolio Review 1Q18

Currently holding on to 12 counters (see Portfolio Review 1Q10 for 1-3, Portfolio Review 2Q10 for 4, Portfolio Review 4Q10 for 5, Portfolio Review 4Q13 for 6, Portfolio Review 2Q14 for 7, Portfolio Review 2Q15 for 8, Portfolio Review 2Q16 for 9, Portfolio Review 3Q16 for 10, Portfolio Review 4Q16 for 11, and Portfolio Review 4Q17 for 12):

1. FrasersCT
2. PLife
3. Starhill
4. Cache
5. First REIT
6. CDL HTrust 
7. OUE HTrust 
8. FCL 3.65%b
9. Hyflux 6%Perp
10. FCOT
11. AIMSAMP
12. LMIRT

Next portfolio review due after 30 June 2018.

Note to self: only simple P/L calculated

Portfolio Review 4Q17

Two transactions completed:

1.  Croesus RTr
   • Buy
     Renewed optimism in Japan from Abenomics(!)
   • Sell
     Blackstone's offer for Croesus
   
   
2. SoilbuildBizReit
   
   • Buy
     Resilience of business park rentals relative to logistics/industrial properties
   • Sell
     KTL Offshore, Technics, NK Ingredients

Currently holding on to 12 counters (see Portfolio Review 1Q10 for 1-3, Portfolio Review 2Q10 for 4, Portfolio Review 4Q10 for 5, Portfolio Review 4Q13 for 6, Portfolio Review 2Q14 for 7, Portfolio Review 2Q15 for 8, Portfolio Review 2Q16 for 9, Portfolio Review 3Q16 for 10, and Portfolio Review 4Q16 for 11):

1. FrasersCT
2. PLife
3. Starhill
4. Cache
5. First REIT
6. CDL HTrust 
7. OUE HTrust 
8. FCL 3.65%b
9. Hyflux 6%Perp
10. FCOT
11. AIMSAMP
12. LMIRT
• Buy
  Steady performance

Next portfolio review due after 31 March 2018.

Note to self: only simple P/L calculated


Record dividends but uncertainty ahead

Enjoyed new high in dividends received, but lost a major contributor in Croesus after it was delisted (albeit offset by healthy capital gains).

For 2018, looking for a new dividends stream to replace Croesus. Also, keeping an eye on Hyflux. Otherwise, rest of portfolio looks to be holding firm, although industrial reits still suffering some rental pressure.

Outside of reits, local property market looks to be experiencing an upswing.

Stay hungry, stay foolish!

Portfolio Review 3Q17

Currently holding on to 13 counters (see Portfolio Review 1Q10 for 1-3, Portfolio Review 2Q10 for 4, Portfolio Review 4Q10 for 5, Portfolio Review 2Q13 for 6, Portfolio Review 4Q13 for 7, Portfolio Review 2Q14 for 8, Portfolio Review 2Q15 for 9, Portfolio Review 2Q16 for 10, Portfolio Review 3Q16 for 11 and 12, and Portfolio Review 4Q16 for 13):

1. FrasersCT
2. PLife
3. Starhill
4. Cache
5. First REIT
6. Croesus RTr
7. CDL HTrust 
8. OUE HTrust 
9. FCL 3.65%b
10. Hyflux 6%Perp
11. SoilbuildBizReit
12. FCOT
13. AIMSAMP

Next portfolio review due after 31 December 2017.

Note to self: only simple P/L calculated, and not including ongoing Cache rights issue

Portfolio Review 2Q17

Currently holding on to 13 counters (see Portfolio Review 1Q10 for 1-3, Portfolio Review 2Q10 for 4, Portfolio Review 4Q10 for 5, Portfolio Review 2Q13 for 6, Portfolio Review 4Q13 for 7, Portfolio Review 2Q14 for 8, Portfolio Review 2Q15 for 9, Portfolio Review 2Q16 for 10, Portfolio Review 3Q16 for 11 and 12, and Portfolio Review 4Q16 for 13):

1. FrasersCT
2. PLife
3. Starhill
4. Cache
5. First REIT
6. Croesus RTr
7. CDL HTrust 
8. OUE HTrust 
9. FCL 3.65%b
10. Hyflux 6%Perp
11. SoilbuildBizReit
12. FCOT
13. AIMSAMP

Next portfolio review due after 30 September 2017.

Note to self: only simple P/L calculated, cumulative dividends was corrected for end 2014. Net equity rose even more than last quarter 1Q17, due in part to Blackstone's offer for Croesus (interestingly, previous delisting experienced was with Pacific's exit offer for PST). 

Portfolio Review 1Q17

Currently holding on to 13 counters (see Portfolio Review 1Q10 for 1-3, Portfolio Review 2Q10 for 4, Portfolio Review 4Q10 for 5, Portfolio Review 2Q13 for 6, Portfolio Review 4Q13 for 7, Portfolio Review 2Q14 for 8, Portfolio Review 2Q15 for 9, Portfolio Review 2Q16 for 10, Portfolio Review 3Q16 for 11 and 12, and Portfolio Review 4Q16 for 13):

1. FrasersCT
2. PLife
3. Starhill
4. Cache
5. First REIT
6. Croesus RTr
7. CDL HTrust 
8. OUE HTrust 
9. FCL 3.65%b
10. Hyflux 6%Perp
11. SoilbuildBizReit
12. FCOT
13. AIMSAMP

Next portfolio review due after 30 June 2017.

Note to self: only simple P/L calculated. This quarter saw the largest quarterly increase in net equity thus far (exceeding the previous high in 3Q16, but still smaller in magnitude than the largest quarterly decrease in net equity in 3Q15)