March, 2019 produced a small in net worth with gains across all assets classes except silver partially offset by adverse currency movements. The end result was a 2.14 percent increase in net assets.
For the year to date, the portfolio is up 6.66 percent. The adjusted change from when I retired in September 2013 is a 30.23 percent increase. Hong Kong liquidity stands at 35.97 months of estimated outgoings, down from the start of the year's 39.90 months due to new investments.
Here are the details:
1. my Hong Kong equities increased. I topped my my holding in Hua Xian REIT (HK:87001) and made a very small speculation in a GEM listed company;
2. my AU/NZ equities were were up with gains in New Zealand offsetting a small loss in Australia. I purchased shares in Nufarm (ASX: NUF) ahead of the company's worse than expected result;
3.my equity ETFs were up (India, Hong Kong and China) in line with the local markets;
4. my position in silver was down slightly;
5. all tenants are paying on time and all properties are let. I had one major repair bill in March. One lease expired and was renewed to the same tenant for an increased rental;
6. the AUD and NZD were down against the USD/HKD;
7. my position in bonds remains modest. Bonds have been frustrating. I have attempted to subscribe for new issues of bonds on five occasions so far this year without receiving any allocation in spite of gearing up my application well above the level I wished to invest. This week I made my sixth application this year and ended up with a full allocation with the result that, come settlement later this week, I will have more of a single bond issue than I am comfortable with. I will look to sell some of the position before applying for any more bonds;
8. expenses were high due to a trip to Australia.
My HK cash position fell during slightly the month due to new investments. I currently hold 35.97 months of expenses in HKD cash or equivalents (up from 29,9 months on 1 January).
Total household gearing ((debt+accruals)/assets) is 7.49% of total assets – with a partial pay down in a margin facility and increased share prices accounting for the reduction. This will increase in April when I draw down to pay for the new bond purchase. Property prices are as at 1 January, 2019 and will not be marked-to-market until year end and I do not net off cash. With a mark-to-market of equities, bonds and FX this number will fluctuate even if the amount of debt is being slowly amortised.
Sunday, March 31, 2019
Friday, March 01, 2019
Financial Review - Febuary, 2019
There is no review for January, 2019 due to travelling and other commitments. The February review covers the two month period form 1 January to 28 February, 2019.
The two month period saw a recovery in net worth with gains across all assets classes compounded by adverse currency movements. The end result was a 4.84 percent increase in net assets.
For the year to date, the portfolio is up 4.84 percent. The adjusted change from when I retired in September 2013 is a 27.95 percent increase. Hong Kong liquidity stands at 36.30 months of estimated outgoings, down from the start of the year's 39.90 months due to new investments.
Here are the details:
1. my Hong Kong equities increased. I added a a position in Shun Tak Holdings (HK:242) to the portfolio;
2. my AU/NZ equities were were up. I sold my shares in NZ Exchange (NZ: NZX) and Genesis (NZ: GNE) and am looking for replacements;
3.my equity ETFs were up (India, Hong Kong and China) in line with the local markets;
4. my position in silver was up slightly;
5. all tenants are paying on time and all properties are let. I will have one major repair bill in March;
6. the AUD and NZD were up against the USD/HKD;
7. my position in bonds remains modest. There were no additional purchases this month. With the prospect of further increases in interest rates more muted, I am looking at buying some more bonds;
8. expenses were low (in spite of a short trip to Singapore).
My HK cash position fell during the month due to new investments. I currently hold 36.3 months of expenses in HKD cash or equivalents (down from 29,9 months on 1 January).
Total household gearing ((debt+accruals)/assets) is 8.54% of total assets – with a partial pay down in a margin facility and increased share prices accounting for the reduction. Property prices are as at 1 January, 2019 and will not be marked-to-market until year end and I do not net off cash. With a mark-to-market of equities, bonds and FX this number will fluctuate even if the amount of debt is being slowly amortised.
The two month period saw a recovery in net worth with gains across all assets classes compounded by adverse currency movements. The end result was a 4.84 percent increase in net assets.
For the year to date, the portfolio is up 4.84 percent. The adjusted change from when I retired in September 2013 is a 27.95 percent increase. Hong Kong liquidity stands at 36.30 months of estimated outgoings, down from the start of the year's 39.90 months due to new investments.
Here are the details:
1. my Hong Kong equities increased. I added a a position in Shun Tak Holdings (HK:242) to the portfolio;
2. my AU/NZ equities were were up. I sold my shares in NZ Exchange (NZ: NZX) and Genesis (NZ: GNE) and am looking for replacements;
3.my equity ETFs were up (India, Hong Kong and China) in line with the local markets;
4. my position in silver was up slightly;
5. all tenants are paying on time and all properties are let. I will have one major repair bill in March;
6. the AUD and NZD were up against the USD/HKD;
7. my position in bonds remains modest. There were no additional purchases this month. With the prospect of further increases in interest rates more muted, I am looking at buying some more bonds;
8. expenses were low (in spite of a short trip to Singapore).
My HK cash position fell during the month due to new investments. I currently hold 36.3 months of expenses in HKD cash or equivalents (down from 29,9 months on 1 January).
Total household gearing ((debt+accruals)/assets) is 8.54% of total assets – with a partial pay down in a margin facility and increased share prices accounting for the reduction. Property prices are as at 1 January, 2019 and will not be marked-to-market until year end and I do not net off cash. With a mark-to-market of equities, bonds and FX this number will fluctuate even if the amount of debt is being slowly amortised.
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