My stocks portfolio - Nov 2010

The market value of my portfolio was up by 2.41% at the end of November 2010. Since I started investing, total portfolio gain adjusted to 11.16% after taking all dividends into account. My holding period return was -1.61% for the month of November 2010. Since the beginning of the year, my overall holding period returns translate to 17.38% in annualized return.

There were 5 transactions on the month of November 2010.
Sold Vanguard Emerging Markets at -4.58% (excluding dividends)
Sold iShares MSCI EAFE at 7.09% (excluding dividends)
Bought Sabana REIT (IPO), average price at $1.050
Bought Riverstone, average price at $0.554
Bought Mun Siong, average price at $0.177

After contemplating for some time, I finally decided to dispose away both of my USD Exchange Traded Funds (ETFs) which are listed in the US. During my 2 years of holding the ETFs, I realized that my returns in SGD were greatly cannibalized by the depreciation in USD currency. So I decided to make a sell with a view that I think USD will continue its downward slide in the longer term. I am fortunate that I managed to recoup back my capital plus some gains from the dividends collected. I plan to use the proceeds to buy into a few more Singapore listed stocks, a market which I am more comfortable and confident with.

I was allocated with Sabana REIT shares through IPO. Actually I plan to “stag” the shares on the 1st day of trading. Well to my surprise, the REIT had opened below IPO price and remains underwater after a few days. At the moment I don’t think it’s a wise decision to cut loss as the REIT has dividend payouts to support its downside. Nevertheless I see that Sabana REIT has a stable portfolio of industrial properties across Singapore. I think the main reasons of negative debut for this IPO are probably due to its weak sponsoring company and also partly attributable to poor market sentiment.

Riverstone was a new company that I have added into my portfolio. This company has demonstrated good organic growths over the past few years. Again if not for the USD depreciation, they could have achieved better bottom line in the latest quarterly earnings. According to a report by Phillip Capital issued on the 3 Nov 2010, Riverstone is trading below its 3 years historical average based on PE and PB ratios.

The other company that I have added was Mun Siong. There isn’t any coverage on this small company at the moment. With the good foundation that they have achieved locally after working with major oil companies, I think it is a good vision that they try to penetrate the lucrative markets in the other regions especially in Vietnam or Middle East.

I received total dividends of $109.96 on the month of November 2010.

Month	Holding Period Return	Annualized Return
Jan-10	-1.75%	17.38%
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%
Nov-10	-1.61%

Stock	Mode	Unrealised P/L (SGD)	Stock	Mode	Unrealised P/L (SGD)
ARA	CASH	79.01%	MAPLETREE IND	CASH	13.73%
ARMSTRONG	CASH	240.00%	MERMAID	CASH	-42.63%
ASIATRAVEL	CASH	-11.64%	MUNSIONG	CASH	-1.13%
CAPITACOMM	CASH	68.74%	NOBLE GROUP	CASH	29.58%
CAPITALAND	CASH	45.04%	NEPTUNE ORIENT LINES	CASH	64.77%
CAPITAMALLS ASIA	CASH	-7.08%	PLIFE REIT	CASH	107.43%
CHINA MILK	CASH	-67.74%	RAFFLES EDUCATION	CASH	-67.03%
CITYSPRING	CASH	18.42%	RIVERSTONE	CASH	-7.04%
COURAGE MAR	CASH	-28.57%	ROTARY ENGRG	CASH	-4.57%
CSE GLOBAL	CASH	190.49%	SABANA REIT	CASH	-7.32%
FIBRECHEM	CASH	-88.71%	SATS	CASH	70.02%
FORTUNE REIT	CASH	50.43%	SGX	CASH	35.36%
FRASERSCT	CASH	31.04%	ST ENGG	CASH	43.11%
GENTING SP	CASH	180.68%	STARHUB	CASH	22.44%
HEALTHWAY	CASH	23.93%	TAI SIN	CASH	-33.75%
HG METAL	CASH	-39.49%	TAT HONG	CASH	21.81%
HOCK LIAN SENG	CASH	-2.68%	TECK WAH	CASH	10.93%
JAYA HLDG	CASH	-46.71%	TIONG SENG	CASH	-5.77%
K-GREEN	CASH	NA	UOB-KAY HIAN	CASH	-10.35%
KEPLAND	CASH	281.83%	VICOM	CASH	56.32%
KEPPELCORP	CASH	175.52%	BH GLOBAL	CPF	-32.43%
LEE METAL	CASH	-3.30%	COSCOCORP	CPF	-31.25%
MACQ INT INFRA	CASH	-39.72%	SIAENGG	CPF	-11.75%