UT Portfolio as at 29 Apr 07

Its been a tiring week, trying to cope work with studying at the same time. I am keeping my fingers crossed for my exam on Saturday; hope i did not do too badly. Here's my portfolio for the week.

Not a bad week; though i expected better performance from Europe. Surprising me was US; they manage to hold strong amidst the Asian volatility (remember the day when Dow dropped 416 pts?). With a good closing last Friday, I have strong confidence that the coming week will be a lot more fun. :)

UT Portfolio as at 21 Apr 07

Today is study day. One week to my AFP exam. ;) So this week's update will be less of my crap. As i have recently did some switching to my portfolio, you will see the line-up somewhat different.





There are some "new" funds which i picked for the growth investors as follows:


Schroders Emerging Markets Opportunity Fund

Lion Cap Global Flexi fund

Fidelity China Focus Fund

SGAM Global Luxury & Lifestyle Fund

Henderson Horizon Asian Dividend Income Fund (available in May 07)

DWS Asian Small/Mid Cap Fund

DWS Global Agribusiness Fund

UT Portfolio as at 14 Apr 07

Today is the 2nd day and also the last day of my CFP module 1 class. We spent the morning on Tax planning and our afternoon focusing on CPF related topics. Again, i am very impressed by the trainer, Mr. Daniel Tan, and i wish to thank him for his guidance. I shall share more of the things i learnt on my next postings.

Here's my scorecard for the week:


Asian market has been pretty resilient with the recent volatility, posting a good 3-5% return (China funds was expected to do badly with the recent rate hike, but the market took this news very well).

As Global funds seems to be slowing down, i am deciding to switch my global property funds to Asian small caps, maximising my returns in the emerging Asia. Anyway, i think it is a good time to take profit.

There is something which i can't seem to figure out though; my Schroders European Alpha went up while my Henderson European Property (this fund has been swinging throughout the week) came down. Having said all this, i am still looking at holding this pair long term as i am bullish in European equity. :)

Virtual Portfolio Review - 1st Month

Right before the correction in March 07, Chin and me went into a bet on our virtual portfolio as follow: http://calvin-moneysense.blogspot.com/2007/01/ut-portfolio-as-at-26-jan-07.html

One month into the bet, i thought it would be a good time to provide some updates:

Chin (01 March 07)
DWS China Equity Fund - SGD 2.0477
Lion Capital Vietnam - SGD 0.999
First State Bridge - SGD 1.358

Chin (02 April 07)
DWS China Equity Fund - SGD 2.1005 (+0.0528)
Lion Capital Vietnam - SGD 0.998 (-0.001)
First State Bridge - SGD 1.3766 (+0.0186)

Calvin (01 March 07)
DWS China Equity - SGD 2.0477
Aberdeen Thailand - SGD 4.1917
Lion Capital Global Flexi - SGD 1.129

Calvin (02 April 07)
DWS China Equity Fund - SGD 2.1005 (+0.0528)
Aberdeen Thailand - SGD 4.1059 (-0.0858)
Lion Capital Global Flexi - SGD 1.157 (+0.028)

The recent correction hurt the market quite abit, although the recovery was quick, especially in Asia. Thai equity was a disgrace at the moment due to political unrest. With today's newspaper article where thailand is no longer as popular a travel destination as before, equity growth in Thailand would be further moderated.

UT Portfolio as at 08 Apr 07

After much procrastination, i finally embarked on journey in CFP certification. Together with my "best friend", we went for our first lesson in a 8-month journey. Not sure if i will succeed clearing all 6 modules in 8 months, but i am definitely ready to be a student again. :)

Was late for class today, as i had to wait for my "best friend" who promised to meet me 15 mins before the class at City Hall MRT. Not sure why he was late, but am sure we was dressed very "student-like".... ahhahahaa... The trainer was very experienced; he was able to make seemingly complex formulas into simple visual models which are easy to recognise and remember.

The topics covered were very interesting although i have came across them many moons ago (when i started dealing with wealth products). It re-enforced my understanding and better my foundation in financial planning. There was a message which struck me and created a great impression on me of taking risks: "Risks are something you can reduce and manage, but can never be eliminated".

In our construction of an investment portfolio, we can reduce and manage risks by diversifying investments into various markets with different investment instruments but when a systematic risk strikes (e.g. natural disaster, SARS outbreak, terrorism, etc), we will not be able to avoid being hurt, one way or another (directly or indirectly). So the point is this: make good money during the "good times" through better investment risk management so that you can better hedge your position during "bad times" (period of systematic risks). If not, you will not make money during "good times" and prepare to lose big bucks during "bad times".

During the course, the trainer also mentioned the need to understand the difference between "Good Debt & Bad Debt" which i had discussed in my earlier posts. From the time of birth, WE are already a DEBT to our parents. While Good Debt can creates wealth, Bad Debt creates nothing but anxiety. Hence, by choices we make everyday, we can snowball to becoming a Good Debt or Bad Debt. So, what's your choice?

Here's my portfolio for the week:

UT Portfolio as at 01 Apr 07

This has been a wonderful at work; a project which i was running received fantastic results. Beside having happy clients, one of planners got almost $10K richer during the month long activity. However, this state of happiness did not last very long.


















The results above showed a clear picture where the market is getting nervous; contradicting signals from current FED & Ex FED chairmans did not help.

Fed Chairman Ben Bernanke on Wednesday gave a more balanced view of the U.S. economy and reiterated the central bank has not shifted its bias on controlling inflation. Bernanke acknowledged risks from the weak housing market but also stressed lingering inflationary pressures. The markets interpreted that the Fed is not ready to reduce U.S. interest rates just yet.

Ex Fed Chairman Alan Greenspan indicated that subprime mortgage is 'not a small issue', however, he said a 10% rise in home prices would end the problems. He added not much spillover effect to consumer behavior so far from subprime. The greenback slipped briefly against major currencies and the U.S. stocks also fell after his comments.

My personal taking from this week's events is to stay vigilant for potential downside in the market (especially if you have more than 30% holding ni US related investments). With today's news on US setting tariffs on Chinese imports on glossy paper, the coming weeks will get even more interesting.