Monday, April 30, 2012

Monthly Review - April 2012

April saw relatively little change in the value of the portfolio with small declines in the value of equities and commodities being partially offset by the cash flow from the properties. FX movements were negligible. Savings for the month were also trivial due to a combination of low income and spending on a family holiday.

Here are the details:

1. my Hong Kong equity portfolio fell slightly. I purchased shares in Fairwood, Cosco Pacific and NWS Holdings. I sold my small position in Tai Sang Land;

2. my AU/NZ equities were marginally higher; ETFs fell in slightly line with the local markets, with all being negative;

4. my commodities fell slightly, led by silver;

5. all of my properties were occupied with all tenants paying on time. There were no repair bills at all this month (although I will have a couple of minor ones in May);

6. currency movements were almost non-existent, as the NZD and AUD were flat against the HKD/USD;

7. my position in bonds remains small. No bonds were purchased this month. I would like to add some more bonds to the portfolio but am finding direct purchases of bonds through the banks I have accounts with to be something of an exercise in frustration in Hong Kong;

8. I had no open derivative positions;

9. savings were very minor due to a combination of low income (April is usually the second lowest month of the year) and high expenses (paying for the balance of our annual holiday in April and the premium on our annual medical insurance which ended up hitting the bank account in April instead of March as I had anticipated).

My cash position declined due slightly to new investments. I currently hold 48.5 months of expenses in HKD cash or equivalents. This is more than enough - in fact it is too high given current inflation levels and the near zero nominal yields on bank deposits.

For the month, my net worth fell by 0.2%. The year to date increase is 13.75%. The year is off to a good start and I remain on track to retire at the end of 2012.

No comments: