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!