1H of 2016 is volatile, market first went through a correction with no apparent reasons in January and February, It is then when we get busy and bought ST Engineering, CMPH (Which is going to be delisted) and Venture. We also sold Cogent during the first Quarter. It turned out that the correction is what it is, and we made a good trading paper profits on those trades. Cogent was sold at a price of 45cents for a 30% profits but the profits would have been double had we hold. We made silly mistakes but we moved on.
2nd Quarter is famous for its Brexit event. We went 50% cash to take opportunity of market weakness. However, the market instead rallied and we have been scratching our head. Nonetheless, we felt that it is too early to say Brexit is a non-event, we instead feel that Market will priced in the uncertainty sooner or later. In going for cash, we decided to take loss for Sembcorp Industries and also Contra Loss for Silverlake axis
We have decide to include cash in our portfolio calculation hence forth.
Outlook is uncertain. Nothing much has happened to warrant the rally in the market except for the fact that Fed might hold off interest rate hike. We expect the market to be volatile with higher probability to the downside and has positioned ourselves to take opportunity of that when it materialized.However, we do not pretend to have in possession a working crystal ball and we react according to market circumstances.
We have invested $51450 into equity but market value is only $49485. It is a 3.9% loss if we liquidated everything. Cash for investing stand at $26000.
Dividends received for first half is about $2700. The dividends received are from Sembcorp Industries, Venture, MIT, A-Reit, LMIR, Lee Metals, Accordia Golf trust and CMPH.
Trading profits is $890. Much of the profits was offset by taking loss on Sembcorp Industries. Profitable trades include CMPH, FSL and Cogent.
Total cash returns over total asset value is $3590/$77459 is 4.6%.
Online Ad Revenue figure is negligible. I am too ashamed to report the figure to you.
The founder and director, greenrookie, has been able to inject cash of various amount into the company due to better cashflow management after taking up a tuition assignment. We hope our founder will continue to have faith in the fund and continue to inject cash into our company.