Friday, May 27, 2016

2016 Portfolio Update (May)

How time flies.. As the month of May draws to a close, it's just a month before half of 2016 will pass. I found myself shifting from diversification to concentration in terms of my portfolio strategy, be it by choice or unintended by means of rights issue participation. The recent rights issue increased my portfolio weightage for OUE Htrust. Just last month, I also accumulated more Tai Sin shares by deploying proceeds from selling Osim after it's owner announced his intention to take her private.

This month I added more UMS shares to my portfolio, making it my top 3 holdings. There are both pros and cons for both strategies. Diversification reduces the risk and volatility of the overall portfolio, but concentration may help to build on the yields from the existing higher yielding stocks.

In my opinion, during the initial stage of portfolio-building, diversification is more effective since the portfolio starts out with only a few counters and the portfolio volatility can be significantly affected by each of them. But as the portfolio grows, diminishing returns kicks in, and the advantages of diversification can only go so far.

On 9 May, CM Pacific has announced a conditional cash offer to acquire its shares. As such, I will need to look out for replacements to deploy the sales proceeds in the event of divesting CM Pacific.

  • Note: P/L computation only takes into account the current holdings in the portfolio, and excludes capital gains/losses and dividends from divested shares, and commission charges/fees

Dividends for May:
  • Kep Infra Trust: $0.0093/share
  • UMS: $0.02/share
  • First REIT: $0.0211/share
  • QAF: $0.04/share
  • SoilbuildBiz REIT: $0.01557/share
  • CMPacific: $0.035/share
  • Keppel Corp: $0.22/share
  • StarHub: $0.10/share
  • SembCorp Ind: $0.06/share
Recent Portfolio Changes:
  • Added UMS @ $0.565 (18 May)


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