2017 1Q Performance

I have decided that I will only update on my performance quarterly. Mimicking reporting on SGX. I believe this is a good move as this will subtly push me to spend more time in analyzing the business rather than the stock prices.

Performance

NAV of portfolio grew from $3.78 (30 Dec 2016) to $4.74, providing a return of 25.4% for the quarter. This beats my benchmark STI ETF which returned 10.3% based on its price appreciation from $2.94 to $3.19 and dividend of $0.053 over the same period. 

This quarter's performance is better than the preceding quarter which returned -4.0% and also better 2016 1Q which returned 3.6%.

The fantastic performance is largely attributed to Best World which has almost doubled this year. This was supported by good return from most stocks in my core holdings such as Valuetronics (34%), Food Empire (22%) , Micro-mechanics (17%), FCT (13%) and Plife (8%), Singtel (6%).

The two counters from core holdings that underperform are Raffles Medical (-0.2%) and Straco (-0.7%). This is expected as their 2016 results are flat. I am still holding on to them as their long term fundamentals are still in tact.

Beyond the core holdings, two other stocks did well for the quarter. They are 800 Super (30%) and AReit (14%).

Allocation
Allocation is not far away from planned. With this current allocation, dividend yield based on initial cost stands at 4.6%

	Planned	Actual
Dividend	~ 60%	60.3%
REIT/ Business Trust	<= 30%	27.8%
Growth	~ 40%	33.9%
Punt	<=10%	5.4%
Cash	0%	5.8%

Action

There is not much activity for core holdings. The only transaction was the addition of Food Empire shares which move it into my core holdings. I believe in its turnaround and it should continue to do well for the next two years.

There are a lot more action for punting. These are my transactions for March.

• Bought and sold Fu yu (up 10%) and City Neon (up 5%)
• Bought SPH as I believe that the press giant will be able to find solutions on the drop of advertisement revenue.
• Bought Keong Hong due to the detail analysis by various IN users. I think this stock has the potential of doing well.
• Bought Oceanus. Pure punting. Like what I read about the company. New CEO is cutting cost and re-structuring debts. Prepare to lose all but if CEO is really able to turn the company's fortune, the upside is high too.
• Sold Dutech as it does not generate sufficient interest for me (-0.2%)

Core holdings

Addition of Food Empire in March has moved it into the top 8. Listing the 9th stock as its cost is not that far off from the 8th stock.

1. Raffles Medical @ $1.48
2. Parkwaylife Reit @ $2.32
3. Straco @ $0.84
4. Best World @ $0.60
5. Valuetronics @ $0.56
6. Fraser Centrepoint Trust @ $2.01
7. Food Empire @ $0.38
8. SingTel @ $3.82
9. Mirco-mechanics @ $0.91