End January 2014 (against 31st December 2012)
Style 1: +11.39% (annualised +10.51% p.a.)
Style 2: +9.38% (annualised +8.66% p.a.)
Style 1 is calculated by first converting the various currencies of my Initial Capital (which was never converted into any other currency) into USD equivalent based on the CURRENT month-end FX rate and the result compared against the current month-end USD Net Portfolio Value.
Style 2 is calculated by first converting the various currencies of my Initial Capital into USD equivalent based on the PORTFOLIO INCEPTION FX rate and the result compared against the current month-end USD Net Portfolio Value.
The above figures have incorporated a manual adjustment for SGD500k of loans that were switched into USD loans to take advantage of lower USD loan rates. I had simultaneously switched USD loans into SGD loans in my main portfolio. Although this has no FX impact looking at the overall picture across my portfolios, this results in an artificial loss of SGD5k in my new portfolio for every 0.01 movement in the USD/SGD rate above USD1.239.
Saturday, February 1, 2014
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