April 2021 Returns: 10.33% (Returns driven by general uptrend in the porfolio, notably Hanwell and Propnex)
Year to Date Returns: 36.48%
% Change since 9 September 2020 (Inception): 50.65%
Year to Date the STI ETF returned about 13.2%
Thoughts on Current Portfolio
Is the market in a bubble?
-Its hard to quantify it a bubble as earnings recovery are in place. However if earnings disruption could occur and hence this could drive a downturn in the market. Alternatively failing to replicate the good performance in 1Q in some sectors e.g banking could result in a general market downtrend.
Is there changes needed to be made in the portfolio?
-Construction Sector seems to be facing even more headwinds again, putting some pressure on KSH, however its a play for the real long run with Gaobeidian thesis. Hence its likely to stay there for some time unless it starts losing its ground in Singapore by a lot.
Moving Forward, i expect returns to start going down or tapering. This is because i believe there could be headwinds resulting in general market heading downwards. However, most companies in the list all reported strong earnings hence i am still somewhat confident in the long term fundamenals currently.