This is my last portfolio update for the year and might be for a few more months. This is because I am seeing less opportunites due to the run up in share prices. Only Ping An Insurance meets my crtieria but I do not want to be overly concentrated.
Purchases
With Elite Commercial REIT doing equity raising to delever and the dust settled with now a stronger balance sheet, I have purchased the REIT. My view is that the REIT is sustainable again. All in all, I expect the REIT to be a 3 GBP pence yielder and therefore buying at 28.5 cents seems fair. Its tenant base is the UK government with step up rental going at about 3% for the next full years.
Secondly, I have accumulated more Ping An Insurance because it is yielding 8% and the weak HKD against Sing Dollar is an opportunity for me to change more foreign currency to buy more foreign assets. I love our strong Sing Dollar
Sale
I have sold Sea Group because I do not view it has a strong future with the onset of Alibaba and Bytedance competing with it in South East Asia E-commerce. The rise in share prices offers a good chance to offload.
Portfolio Setup
I still have a large exposure to China. However, the composition on Alibaba has now fallen a lot because of the run up in my US holdings and that I am accumulating other China blue chips instead. The expected dividend yield for this portfolio is now 9% due to how undervalued US REITs and China blue chips are.
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