Portfolio Review 3Q15

Currently holding on to 11 counters (see Portfolio Review 1Q10 for 1-3, Portfolio Review 2Q10 for 4, Portfolio Review 4Q10 for 5, Portfolio Review 1Q11 for 6, Portfolio Review 4Q12 for 7, Portfolio Review 2Q13 for 8, Portfolio Review 4Q13 for 9, Portfolio Review 2Q14 for 10, and Portfolio Review 2Q15 for 11):

1. FrasersCT
2. PLife
3. Starhill
4. Cache
5. First REIT
6. Cambridge
7. Sembmarine
8. Croesus RTr
9. CDL HTrust 
10. OUE HTrust 
11. FCL 3.65%b

Next portfolio review due after 31 December 2015.

Note to self: only simple P/L calculated. Heavy paper losses this quarter, to the extent of first time experiencing overall portfolio paper loss

Portfolio Review 2Q15

Currently holding on to 11 counters (see Portfolio Review 1Q10 for 1-3, Portfolio Review 2Q10 for 4, Portfolio Review 4Q10 for 5, Portfolio Review 1Q11 for 6, Portfolio Review 4Q12 for 7, Portfolio Review 2Q13 for 8, Portfolio Review 4Q13 for 9, and Portfolio Review 2Q14 for 10):

1. FrasersCT
2. PLife
3. Starhill
4. Cache
5. First REIT
6. Cambridge
7. Sembmarine
8. Croesus RTr
9. CDL HTrust 
10. OUE HTrust 
11. FCL 3.65%b

• Buy
  Diversification into local retail bond

Next portfolio review due after 30 September 2015.

Note to self: only simple P/L calculated

Portfolio Review 1Q15

Currently holding on to 10 counters (see Portfolio Review 1Q10 for 1-3, Portfolio Review 2Q10 for 4, Portfolio Review 4Q10 for 5, Portfolio Review 1Q11 for 6, Portfolio Review 4Q12 for 7, Portfolio Review 2Q13 for 8, Portfolio Review 4Q13 for 9, and Portfolio Review 2Q14 for 10):

1. FrasersCT
2. PLife
3. Starhill
4. Cache
5. First REIT
6. Cambridge
7. Sembmarine
8. Croesus RTr
9. CDL HTrust 
10. OUE HTrust 

Next portfolio review due after 30 June 2015.

Note to self: only simple P/L calculated