Portfolio Review for Sept 2019

By The Boy Who Procrastinates - September 28, 2019

Even though Xi and Trump have agreed to a trade truce at the G20 Summit in late June, the tit-for-tat trade war appears to resume with greater intensity. At one point, the PBOC has let the Chinese yuan fall about 4% to cushion the blow of US escalating trade tariffs. In response, China was labelled a currency manipulator by US Treasury. 

At this stage, there does not seem to be a respite insight for this ongoing trade war as both sides have threatened with new tariffs and hikes to the existing duties in the months to come. 

This quarter, the US Fed has lowered the interest rate on 2 occasions on 31 July and 18 Sept respectively, putting the range of the fed fund rate at 1.75% to 2% amid uncertain economic outlook. 

Back at home, the STI has fallen from 3,372.26 at the start of July to a low of 3,054.84 in August before recovering to 3,125.63 in September, accounting for a relatively substantial drop of 7.31%.

The SGX S-REIT 20 Index has behaved in a similar fashion, declining from 1,446.659 in July to a low of 1,374.699 in August before climbing back to to 1,460.161 in September, recording an overall gain of 0.93% in the short span of 3 months. 

Action in Q3

With the escalating trade war, I have been taking a back seat this quarter and have not taken any action to load up or sell any positions. 


The portfolio value has not really fluctuated much against the backdrop of decreasing interest rate and bitter trade battle between US and China. Overall, the market value of my portfolio has dropped by approximately 0.68% in this unexciting quarter.


The dividends collected this quarter is 61.16% greater than that of 3Q2018, with it being the quarter with the highest dividends this year thus far and hitting the goal of $500 per month.  

The dividend collected from this quarter is contributed by the following securities:

Payment Date
1 July
SSB Jan 2019
3 July
Far East Orchard
31 July
Cromwell European REIT
8 August
SIA Engineering
21 August
29 August
Starhill Global REIT
30 August
Raffles Medical
13 September
Far East HTrust
27 September
CapitaRetail China Trust
Total Dividend Collected : $3,880.27
Average Dividend/Month : $431.14 (over 9-months period)

* Exchange Rate 
1 EUR : 1.508804 SGD
1 USD : 1.382125 SGD

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