March was another good month for the portfolio with small gains across the board producing a 0.99 percent increase in net assets.
For the year, the portfolio is up 5.18%. The adjusted change from when I retired in September 2013 is an 11.74% increase. Hong Kong liquidity stands at 30.6 months of estimated outgoings, well down on January's 38.6 months due to new investments.
Here are the details:
1. my Hong Kong equities increased. I made a very small speculative investment in a microchip stock but otherwise there were no changes to the Hong Kong equity portfolio this month;
2. my AU/NZ equities appreciated slightly. There were no changes to the AU/NZ equities this month;
3.my equity ETFs were up very slightly (India, Hong Kong and China) in line with the local markets;
4. my position in silver fell;
5. all tenants are paying on time and both vacancies have been filled. I rolled over a lease to an existing tenant for an unchanged rental;
6. the AUD was more or less flat and the NZD down slightly against the HKD/USD;
7. my position in bonds remains small;
8. expenses were at the low end of expectations with no travel costs or other large items to pay.
My HK cash position fell during the month due to the prepayment of some invoices and the timing of deposits repaid and received on the rental portfolio. I currently hold 30.6 months of expenses in HKD cash or equivalents.
I would like to make some additional investments but am struggling to find good value in the markets I follow.