- FrasersCT
- PLife
- Starhill
- Cache
- First REIT
- Sabana
- Cambridge
- Sembmarine
- Croesus RTr
- Buy
Renewed optimism in Japan from Abenomics(!)
- Buy
Note to self: only simple P/L calculated
Friday, June 28, 2013
Portfolio Review 2Q13
Note to self: only simple P/L calculated
Stock & Unit Trust Portfolio Update Apr/May/Jun 2013
Continuing on from Stock & Unit Trust Portfolio Update Mar 2013,
- 17 Apr 2013
Added to SembMarine existing holdings - 6 Jun 2013
Added to SembMarine existing holdings - 11 Jun 2013
Added to Sabana existing holdings - 12 Jun 2013
Added to Cache existing holdings
Thursday, March 28, 2013
Stock & Unit Trust Portfolio Update Mar 2013
Continuing on from Stock Portfolio Update Jun 2012,
- 7-8 Mar 2013
Stag Mapletree Greater China Commercial Trust IPO on second day of trading
Portfolio Review 1Q13
- FrasersCT
- PLife
- Starhill
- Cache
- First REIT
- Sabana
- Cambridge
- Sembmarine
Note to self: only simple P/L calculated
Sunday, January 06, 2013
Passive income for retirement
Retirement with a fairly stable stream of passive income has been the basis of my investment aspirations.
When I first started, I had set a target for annual passive income which I felt could support my retirement needs. Taking stock, I decided to check how far away I was from my target:
From a first year figure of 1.2% of target to last year's 6.7% of target, there is indeed a long way more for me yet. Looks like I would either need to pump in substantially more capital or look for higher yield for a less capital-intensive approach...
When I first started, I had set a target for annual passive income which I felt could support my retirement needs. Taking stock, I decided to check how far away I was from my target:
From a first year figure of 1.2% of target to last year's 6.7% of target, there is indeed a long way more for me yet. Looks like I would either need to pump in substantially more capital or look for higher yield for a less capital-intensive approach...
Monday, December 31, 2012
Portfolio Review 4Q12
- FrasersCT
- PLife
- Starhill
- Cache
- First REIT
- Sabana
- Cambridge
- Sembmarine
- Buy
High beta with decent yield amongst STI component stocks (cf. SIAS article)
Record order book estimated at more than S$13b as of end December 2012
Price driven down by recent bad news (i.e. Q3 profit decline on margin concerns and Jurong Shipyard accident)
- Buy
Note to self: only simple P/L calculated
Positioning for 2013
It is commonly said that there are five main asset classes, with virtually every financial product being able to be classified into one of these classes or as a hybrid straddling across classes -
- Cash
- Equity
- Fixed income securities
- Real estate
- Precious metals
My main gripe with precious metals is that they do not generate any cash flow. On the flip side, advocates of precious metals will say that they tend to be a good store of value, especially in times of uncertainty, and certainly there is a good deal of uncertainty in the world today from fiscal cliff concerns in the US, debt woes in the Eurozone and political instability in the MENA region caused by the Arab Spring.
Add on to my REITs / shares / bond funds / foreign currencies? ... Precious metals or not? Gold, silver or platinum? ETF or physical? ... Some questions for me to ponder over
Merry X'mas and Happy New Year to all! =)
Saturday, October 20, 2012
REITs Screening Criteria III
It was with some interest that I read articles expressing Citigroup's and UOB KayHian's positive sentiments towards S-REITs.
In an earlier post, I had highlighted the following as my selection criteria:
Stability
The difference couldn't be more stark in the yield column. From my own calculations, Sabana remains the only REIT with annual yield just slightly above 8% (note: not reflected in the list above due simply to the fact that Sabana's IPO was only in Nov 2010). And according to this blog, current yield levels for S-REITs range from the mid-4% to slightly above 8%.
My thoughts? Even for yield stocks, buy only when one is comfortable with the rate. For myself, I prefer to wait out with respect to S-REITs at this point in time and look for value elsewhere if it can be found.
In an earlier post, I had highlighted the following as my selection criteria:
Stability
- Low gearing, i.e. < 35% (also the limit for REITs without a credit rating)
- Presence of a sponsor, preferably a strong one, eg. Capitaland, F&N, etc
- Portfolio mainly in Singapore, as I will have a local knowledge of the industry in that case
- Discount to NAV, i.e. paying less for more
- High yield, preferably > 8% p.a.
- Quarterly distributions (as opposed to semi-annually), this is just a personal preference to improve my own cash flow
The difference couldn't be more stark in the yield column. From my own calculations, Sabana remains the only REIT with annual yield just slightly above 8% (note: not reflected in the list above due simply to the fact that Sabana's IPO was only in Nov 2010). And according to this blog, current yield levels for S-REITs range from the mid-4% to slightly above 8%.
My thoughts? Even for yield stocks, buy only when one is comfortable with the rate. For myself, I prefer to wait out with respect to S-REITs at this point in time and look for value elsewhere if it can be found.
Friday, September 28, 2012
Portfolio Review 3Q12
- FrasersCT
- PLife
- Starhill
- Cache
- First REIT
- Sabana
- Cambridge
Note to self: only simple P/L calculated
Sunday, August 05, 2012
Stock & Unit Trust Portfolio Update Jun 2012
Continuing on from Stock Portfolio Update Jan/Feb/Mar 2012,
- 27 Jun 2012
Initiated Regular Savings Plan into UOBAM United Emerging Markets Bond Fund unit trust on dollarDEX platform
Friday, June 29, 2012
Portfolio Review 2Q12
Currently holding on to 7 counters (see Portfolio Review 1Q10 for 1-3, Portfolio Review 2Q10 for 4, Portfolio Review 4Q10 for 5-6 and Portfolio Review 1Q11 for 7):- FrasersCT
- PLife
- Starhill
- Cache
- First REIT
- Sabana
- Cambridge
Note to self: only simple P/L calculated
Saturday, March 31, 2012
Portfolio Review 1Q12
Currently holding on to 7 counters (see Portfolio Review 1Q10 for 1-3, Portfolio Review 2Q10 for 4, Portfolio Review 4Q10 for 5-6 and Portfolio Review 1Q11 for 7):- FrasersCT
- PLife
- Starhill
- Cache
- First REIT
- Sabana
- Cambridge
Note to self: only simple P/L calculated
Saturday, March 24, 2012
Averaging down by selling
Lately, I have been reducing my stock holdings as the STI has been steadily climbing in March 2012 to hit around 3000 near the end of the month. In particular, I released those which I had bought at relatively high prices in the past. As a result, my average price for some of the counters which I am holding has become lower.
In the past, I have only ever considered the notion of averaging down by buying more shares of a particular counter. But averaging down by selling instead... as long as the market is heading up, why not? One, yield of personal portfolio should increase; two, paper gains can be locked in and realised.
In the past, I have only ever considered the notion of averaging down by buying more shares of a particular counter. But averaging down by selling instead... as long as the market is heading up, why not? One, yield of personal portfolio should increase; two, paper gains can be locked in and realised.
Tuesday, January 24, 2012
Stock & Unit Trust Portfolio Update Jan/Feb/Mar 2012
Continuing on from Stock Portfolio Update Oct/Nov 2011,
- 6 Jan 2012
Initiated Regular Savings Plan into Franklin Templeton IF Templeton Global Bond Fund A(mdis) SGD-H1 and First State Bridge unit trusts on dollarDEX platform - 18 Jan 2012
Received dividends (re-invested) from Templeton Global Bond Fund - 29 Feb 2012
Collected dividends from FCT, PLife, Starhill, Cache, First REIT, Sabana and Cambridge - 14 Mar 2012
Reduced Cambridge existing holdings - 20 Mar 2012
Reduced Sabana existing holdings
Diversification of portfolio through unit trusts
For some time, I have thought about diversifying my portfolio geographically (outside of Asia) and across different asset classes (apart from equity). With my limited capital, unit trusts present one of the low-cost avenues for achieving this.
Between the two online unit trust fund distributors Fundsupermart and dollarDEX, I opted for the latter to avoid paying the "platform fee" which Fundsupermart had imposed in 2010.
Since fixed income instruments such as bonds are currently mixing from my investment mix, I decided to initiate a Regular Savings Plan into two funds:
Between the two online unit trust fund distributors Fundsupermart and dollarDEX, I opted for the latter to avoid paying the "platform fee" which Fundsupermart had imposed in 2010.
Since fixed income instruments such as bonds are currently mixing from my investment mix, I decided to initiate a Regular Savings Plan into two funds:
- Franklin Templeton IF Templeton Global Bond Fund A(mdis) SGD-H1 - note: mdis denotes monthly distribution and SGD-H1 denotes the SGD hedged version since the mother fund is managed in USD terms
- First State Bridge - note: this is an Asian balanced fund
Personally, I like the monthly distribution characteristic of the former, and the Asia-centric nature of the latter as this will give me the option of exiting my ILP in future but still retain some exposure to Asian equities.
Meanwhile, I am also on the lookout for a proven and low-cost precious metals fund to benefit from the long-term uptrend of gold and silver prices.
Happy Chinese New Year and good fortune to all !
Sunday, January 01, 2012
Aviva SAF Insurance II
For a while now, I have been considering increasing my critical illness coverage to complement my private MediShield plan (including a rider to cover the deductible and co-insurance portions) which I had signed with GE.
Of my existing plans, there were two immediate options open to me: tagging onto my Aviva SAF Group Insurance or onto my ILP. However, as my ILP was meant almost exclusively for investment purposes (as opposed to insurance), my preference was for the former.
Cost-wise, up till age 45, the charge for critical illness coverage under the Aviva SAF Group Insurance was $5.00 monthly per $50,000 coverage (max $300,000 coverage). Thereafter, the monthly premium progressively increases from year to year until the cut-off age of 65.
For reference, some details for two of the more prominent critical illness plans are as follows:
GE Early-Payout CriticalCare Plus - advertised as providing payout at the earlier stages of critical illness, $63 a month based on a non-smoking male, aged 30 at next birthday with a sum assured amount of $100,000 for a policy term of 30 years
PRUmultiple crisis cover - advertised as providing up to three critical illness claims, inclusive of 2 cancer claims, $1.76 a day for a female non-smoker aged 35 on her next birthday covered for $50,000 over 50 years
Just for comparison purposes, the monthly premiums for a 30-ish male/female non-smoker to be covered for $50,000 are estimated to be (* please consult a qualified agent for accurate quotes and kindly do not take these values at face value):
Aviva SAF Insurance: $5.00
GE Early-Payout CriticalCare Plus: ~$31.50
PRUmultiple crisis cover: ~$52.80
For cost-conscious consumers, the Aviva plan is clearly the most basic and hence least expensive. If one should desire the additional benefits which the other two plans bring, then there is of course an additional price to pay. To each his own...
Of my existing plans, there were two immediate options open to me: tagging onto my Aviva SAF Group Insurance or onto my ILP. However, as my ILP was meant almost exclusively for investment purposes (as opposed to insurance), my preference was for the former.
Cost-wise, up till age 45, the charge for critical illness coverage under the Aviva SAF Group Insurance was $5.00 monthly per $50,000 coverage (max $300,000 coverage). Thereafter, the monthly premium progressively increases from year to year until the cut-off age of 65.
For reference, some details for two of the more prominent critical illness plans are as follows:
GE Early-Payout CriticalCare Plus - advertised as providing payout at the earlier stages of critical illness, $63 a month based on a non-smoking male, aged 30 at next birthday with a sum assured amount of $100,000 for a policy term of 30 years
PRUmultiple crisis cover - advertised as providing up to three critical illness claims, inclusive of 2 cancer claims, $1.76 a day for a female non-smoker aged 35 on her next birthday covered for $50,000 over 50 years
Just for comparison purposes, the monthly premiums for a 30-ish male/female non-smoker to be covered for $50,000 are estimated to be (* please consult a qualified agent for accurate quotes and kindly do not take these values at face value):
Aviva SAF Insurance: $5.00
GE Early-Payout CriticalCare Plus: ~$31.50
PRUmultiple crisis cover: ~$52.80
For cost-conscious consumers, the Aviva plan is clearly the most basic and hence least expensive. If one should desire the additional benefits which the other two plans bring, then there is of course an additional price to pay. To each his own...
AUD / NZD Update December 2011
Rate cuts by Reserve Bank of Australia (RBA) while Reserve Bank of New Zealand (RBNZ) holds its rate steady. A sign of the slowing economy ahead?
| Effective Date | Change in cash rate Percentage points | New cash rate target Per cent | |
|---|---|---|---|
| 7 Dec 2011 | -0.25 | 4.25 | |
| 2 Nov 2011 | -0.25 | 4.50 | |
| 3 Nov 2010 | +0.25 | 4.75 | |
| 5 May 2010 | +0.25 | 4.50 | |
| 7 Apr 2010 | +0.25 | 4.25 | |
| 3 Mar 2010 | +0.25 | 4.00 | |
| 2 Dec 2009 | +0.25 | 3.75 | |
| 4 Nov 2009 | +0.25 | 3.50 | |
| 7 Oct 2009 | +0.25 | 3.25 | |
| 8 Apr 2009 | -0.25 | 3.00 | |
| 4 Feb 2009 | -1.00 | 3.25 | |
| 3 Dec 2008 | -1.00 | 4.25 | |
| 5 Nov 2008 | -0.75 | 5.25 | |
| 8 Oct 2008 | -1.00 | 6.00 | |
| 3 Sep 2008 | -0.25 | 7.00 | |
| Effective Date | Change in OCR Percentage points | New OCR Per cent | |
|---|---|---|---|
| 10 Mar 2011 | -0.50 | 2.50 | |
| 29 Jul 2010 | +0.25 | 3.00 | |
| 10 Jun 2010 | +0.25 | 2.75 | |
| 30 Apr 2009 | -0.50 | 2.50 | |
| 12 Mar 2009 | -0.50 | 3.00 | |
| 29 Jan 2009 | -1.50 | 3.50 | |
| 4 Dec 2008 | -1.50 | 5.00 | |
| 23 Oct 2008 | -1.00 | 6.50 | |
| 11 Sep 2008 | -0.50 | 7.50 | |
Monday, October 10, 2011
Portfolio Review 4Q11
One transaction completed:PST
- Buy
Counter is traded in USD but settled in SGD (see Taking advantage of the falling US dollar)
Acquisition of non-container vessels (two Capesize Bulk Carriers chartered to Jiangsu Shagang Group Co., two Multi-Purpose Vessels chartered to Cosco Xiamen and five Supramax Bulk Carriers chartered to Glovis) -> diversification of fleet and widening of charterer base - Sell
Exit offer made by Pacific International Lines (offer price exceeded highest transacted price in the last three years and was at a premium of 15% over last transacted price of US$0.375 before trading halt) -> immediate realisation of capital gains
USD rally against SGD during Sep 2011 (refer to chart below) -> additional capital gains from USD/SGD foreign exchange rate appreciation
- FrasersCT
- PLife
- Starhill
- Cache
- First REIT
- Sabana
- Cambridge
Note to self: only simple P/L calculated
Importance of steady dividends
In their reports and articles, financial analysts and columnists have always stressed the importance of dividends in making one's stock selections. Thus far, I have subscribed to this as well. However, to ground my belief in facts and figures, I have tabulated my own portfolio's change in value for presentation in graphical form to fully assess the impact of a regular dividend stream.
* Note: % value calculated as (paper worth of holdings + cash for stock investments - cash injections) / original cash amount X 100%
Indeed, the slow-but-steady dividends can sometimes be under-appreciated in the face of quick and at-times spectacular trading gains. Still, the above does help to remind myself of some of the merits of going down this 'cashflow cum dividends' path.
At present, my portfolio is enjoying a blended dividend yield of 8-9% p.a. =) Hopefully this may continue, and happy new year to all!
Stock Portfolio Update Oct/Nov 2011
Continuing on from Stock Portfolio Update Aug/Sep 2011,
- 15 Nov 2010, 4 May 2011, 8 Aug 2011 - 6 Oct 2011
Bought PST at US$0.35, US$0.36, US$34 (average US$0.35 @US$1=S$1.2539) and sold at US$0.43 @US$1=S$1.2993 - October 2011
Added to Starhill existing holdings - 8 Nov 2011
Received advanced distribution from FCT due to private share placement - 23 Nov 2011
Collected dividends from Cambridge - 29 Nov 2011
Collected dividends from Starhill, Cache, First REIT and Sabana - 7 Dec 2011
Collected dividends from PLife
Friday, September 30, 2011
Portfolio Review 3Q11
Currently holding on to 8 counters (see Portfolio Review 1Q10 for 1-3, Portfolio Review 2Q10 for 4, Portfolio Review 4Q10 for 5-7 and Portfolio Review 1Q11 for 8):- FrasersCT
- PLife
- Starhill
- Cache
- First REIT
- Pacific Shipping Trust
- Sabana
- Cambridge
Note to self: only simple P/L calculated
Remark: first quarterly decline in portfolio net value since inception (refer to spreadsheet) =(
Stock Portfolio Update Aug/Sep 2011
Continuing on from Stock Portfolio Update May/June 2011,
- August 2011
Added to PST and Sabana existing holdings - 25 August 2011
Collected dividends from Cambridge - 29 August 2011
Collected dividends from FCT, Starhill, Cache, First REIT and PST - 6 September 2011
Collected dividends from Sabana - 8 September 2011
Collected dividends from PLife
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