My stocks portfolio - Oct 2010

Based on total invested capital, my stocks portfolio was up by 4.18% at the end of October 2010. Total portfolio gain adjusted to 12.85% after taking all dividends into account. My holding period return was 3.09% for the month of October 2010. Since the beginning of the year, my overall holding period returns translate to 21.62% in annualized return.

There was 1 transaction on the month of October 2010.
Bought Mapletree Industrial Trust (IPO), average price at $0.930

October 2010 was a busy month filled with mega IPOs. I was lucky to be allocated with some shares in Mapletree Industrial Trust (MIT) and Global Logistic Properties (GLP). I decided to keep the MIT shares while selling the GLP shares away. Since the GLP transaction was intended to be a speculative play, I decided not to record that transaction in my book. I plan to use the proceeds to purchase myself a new smart phone to replace my near three year old Sony Ericsson P1i handphone :).

Out of the two IPOs, I find that MIT is more appealing than GLP. MIT is a REIT with committed dividend payouts in the future while GLP is a growth stock with no dividend policy in place. Apart from the China properties, I am not comfortable with the bulk of Japanese properties that GLP holds. Japan together with US is definitely losing their power house status in the centre stage of the global economy. In my opinion, Asia Pacific excluding Japan and Emerging Markets are the countries that can offer good growths and opportunities going forward. Thus the concentration of Chinese and Japanese properties is the main reason as to why I am not keen with GLP.

MIT on the other hand holds some industrial properties across Singapore. Singapore being an export driven economy which shall remain to be one in the future will drive manufacturing and logistic facilities to become key areas of growth in the country. Most of the REITs dividend yields are already compressed so I actually decided not to add new REIT into my portfolio. But I believe buying MIT though IPO can offer me a reasonable margin of safety for any downside.

And I don’t have any exposure to industrial properties at the moment. Therefore the IPO gives me a good chance to gain that exposure. Also MIT has quality properties comparable to Ascendas REIT (A-REIT). That means I was expecting MIT to debut well with comparable yield to A-REIT. As we all know from the balloting results, the massive amount of over subscription for the IPO shares had displayed strong interests among institutional and retail investors.

I received total dividends of $155.65 on the month of October 2010.

Month	Holding Period Return	Annualized Return
Jan-10	-1.75%	21.62%
Feb-10	1.36%
Mar-10	2.98%
Apr-10	4.36%
May-10	-7.12%
Jun-10	4.40%
Jul-10	4.49%
Aug-10	-1.38%
Sep-10	6.76%
Oct-10	3.09%

Stock	Mode	Unrealised P/L (SGD)	Stock	Mode	Unrealised P/L (SGD)
ARA	CASH	69.14%	MAPLETREE IND	CASH	14.81%
ARMSTRONG	CASH	244.00%	MERMAID	CASH	-35.55%
ASIATRAVEL	CASH	-0.86%	NOBLE GROUP	CASH	17.57%
CAPITACOMM	CASH	68.74%	NEPTUNE ORIENT LINES	CASH	62.49%
CAPITALAND	CASH	56.29%	PLIFE REIT	CASH	113.83%
CAPITAMALLS ASIA	CASH	0.94%	RAFFLES EDUCATION	CASH	-65.81%
CHINA MILK	CASH	-67.74%	ROTARY ENGRG	CASH	-1.09%
CITYSPRING	CASH	23.48%	SATS	CASH	68.84%
COURAGE MAR	CASH	-22.62%	SGX	CASH	38.19%
CSE GLOBAL	CASH	172.49%	ST ENGG	CASH	45.30%
FIBRECHEM	CASH	-88.71%	STARHUB	CASH	23.37%
FORTUNE REIT	CASH	50.18%	TAI SIN	CASH	-25.87%
FRASERSCT	CASH	40.33%	TAT HONG	CASH	36.48%
GENTING SP	CASH	206.06%	TECK WAH	CASH	10.93%
HEALTHWAY	CASH	28.21%	TIONG SENG	CASH	-1.92%
HG METAL	CASH	-33.12%	UOB-KAY HIAN	CASH	-10.89%
HOCK LIAN SENG	CASH	2.35%	VICOM	CASH	54.10%
JAYA HLDG	CASH	-47.82%	VANGUARD EMER MRKTS	CASH	-2.90%
K-GREEN	CASH	NA	iSHARES MSCI EAFE	CASH	10.10%
KEPLAND	CASH	256.11%	BH GLOBAL	CPF	-21.38%
KEPPELCORP	CASH	157.95%	COSCOCORP	CPF	-36.69%
LEE METAL	CASH	1.42%	SIAENGG	CPF	-8.59%
MACQ INT INFRA	CASH	-39.18%