Tuesday, August 03, 2010

Monthly Review - July 2010

July was an outstanding month for financial progress with strong gains on the equity portfolio being supplemented by positive cash flow on my properties and increases in commodities. All these gains were compounded by positive currency movements as the AUD and NZD rose against the USD. A reasonable savings rate was achieved.

Here are the details:

1. my Hong Kong equity portfolio appreciated significantly. There were no trades this month

2. my ETFs appreciated in line with their respective markets to record very solid gains (Hong Kong, Russia, Taiwan and India)

3. my commodities all appreciated (ETF, silver, HOGS, NICK)

4. all of my properties are let producing a positive cash flow and making a positive contribution to my net worth. I had two repair bill due (for an air conditioning unit and a washing machine)

5. currency movements were positive, as the AUD and NZD appreciated against the USD

6. savings were positive with income being above average and expenses being on the high side due to a short family holiday (which was in the budget), a visit to a relative (which was not in the budget) and paying for this year's en primeur wine purchases - in spite of which, net savings were reasonably good

My low cash position continues to improve and now represents more than a year's worth of expenses.

For the month, net worth increased 4.9%. The year to date increase is 11.1%.

The gains on investments this month were similar in absolute terms to the losses incurred in May and my target retirement window is now looking quite good.

Note: due to holiday travel, the review for July is based on prices etc as at close of business Hong Kong time on Tuesday 3rd August.

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