Saturday, September 01, 2012

Monthly Review - August 2012

August was a month of modest financial progress with gains in my equities and commodities being largely offset by unfavourable FX movements, Positive cash flow from the properties and positive savings resulted in a small increase in net worth.

Here are the details:

1. my Hong Kong equity portfolio appreciated slightly. I made small additions to my positions in CCB, China Blue Chemical, Tontine Wines and China Metal Recycling and made a more substantial investment in Sinotrans Shipping. I sold my shares in Vodone;

2. my AU/NZ equities appreciated; ETFs largely went sideways in line with the local markets;

4. my commodities were  up with most of the gain being in silver;

5. all of my properties were occupied with all tenants paying on time. There was one small repair bill;

6. currency movements were negative, as the NZD and AUD fell against the HKD/USD;

7. my position in bonds remains small;

8. there were no open derivative contracts;

9. savings were solid with good income and moderate expenses. I purchased a small amount of physical gold (which has been treated as an expense).

My cash position fell due to new investments being less than savings, cash flow from properties and dividends received. I currently hold 35 months of expenses in HKD cash or equivalents. This is above my target floor of 24 months. It is also understated as the proceeds from the sale of Vodone will not be received until next week.

For the month, my net worth increased by 0.7%. The year to date increase is 15.9%. My retirement date has been fixed for the middle of next year for reasons that have nothing to do with finance - financially, I am past the point where I can afford to retire.

Edited 01/09/2012 to correct error in spreadsheet.

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