May 16, 2020

Cory Diary : Reits/Trust Portfolio Review Mid-May Period and Performance Report

In 14th April article, I did a Reit/Trust Portfolio review. Here's the link. Since then how has my portfolio goes ? This article needs to read contingent to this link which I won't be repeating here but will be better to have more complete read.

Some return on this. Took 50% profit and leave the rest for longer term investment. Rationale is Business Park is lesser impacted and DPU will not be badly hit. There is some future DC play but I like to get some buffers.

Hold decision looks right as the price is stable. Is still a speculative and asset play. They are a bit slow in the offering which probably due to Olympic delay and trying to time for cheaper price with Covid situation in Japan.

Riding with the market. Quite please with the quarterly report.Due to risk allocation I could not expand more. This is small reit but their management looks good. Hopefully they stay that way and not lapse.

See some run up since then. Nice rebound. A Core position for me. The yield is not so (typo) high so I wouldn't want to expand more. So happy with what I have as the business is a rock.

Waiting for up turn when CB measure is relieved. Doing some trading.  Continue to hold as I have confidence in Singapore to ride through this despite recent dormitories issues. Matter of time the public and gov may have to face the Virus head-on and live with it.

CapitaR China Tr
No change ad continue to hold. Positive with the Malls ability to return. Yield is good. And the chinese measures are stringent enough to prevent major outbreak. Life will return to normal but business wise we have to see how it goes politically.

IREIT Global
One of the Reit which corrected quite significantly though unjustly few months ago. At today price, this counter manage to broke even as I trade in/out taking good advantage of investors emotion dynamic with global markets.

Cleared completely for counter consolidation with good gains.

Received strong gain for just 2 months investment period. I am out on this one as the profit is too good and the upside is limited imo now. Is a good Reit and the yield still ok but I feel there is time for everything.

With the onset of possible demo, decided to clear this position. For the short duration investment period, the returns are pleasing. It would have been larger have I sold all earlier.

Staying on-course. Happy with the amount of exposure I have. Not much to say except similar to earlier link.

Finally make my return on  this counter with some initial purchase. I think hard on this one as I have CMT but the customers are not exact the same. It also provide some Alpha and the price is quite beaten but the future is there. Retail malls have been hard hit due to CB. The cases in community is getting into the right direction so any relieve from CB is good news. Singapore cannot do without malls.

Portfolio 55% Reits/Trust and 17% Fixed Investment allocations. Currently I feel the portfolio is well-balanced.  All the changes and plan are for peach of mind which mean I do miss out some gains. One misgiving is the non-reit side which I sold Sheng Siong for lesser profit and since ran up much further. Market is funny because it only ran up in the midst of Covid and not earlier. Expanded Bank segment earlier also help to push some gain and dividends but this has to be quickly scale down slightly as i feel the allocation is too large. Hopefully this do not reduce the gap performance with STI.

Cory Portfolio -7.7% P/L YTD.
STI -21.6%. ( exclu. div) so probably -20%.

Some balance cash raised for next round of investment. Two more weeks to go. Looking forward to Worker recovery and business to re-start. The focus in my mind is how to shield from external macro factor slightly more.


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