It’s the start of a new season and I would like to put on record the team that will start this season. Very similar to last quarter with the exception of replacing Ascendas Reit with CapitaRetail China Trust in the first team. I also drafted in Frasers Centrepoint Trust into the first eleven as I believe it will do relatively better in 2021.

The first team makes up about 70% of the portfolio. Remaining 20% are made up by the reserves, with the youth team taking up 10%. Added two counters in the last week of December as they may turnaround in 2021. I will treat them as on-loan players and will deliberate along the season before deciding if I want to add them to the team permanently.

ReservesYouth Team and Loan
(D) Ascendas Reit SaaS (4.2%)
(D) Keppel DC ReitMFRS2020 (5.2%)
(D) SGX(D) Jardine Cycle & Carriage (Loan)
(D) UMS(M) Lumen Technologies (Loan)
(M) Raffles Medical Group
(M) Microsoft
(M) Tractor Supply
(F) Mercadolibre
(F) Netflix

Target for the year remains unchanged. At least 8% return with a stretched goal of at least 12%. Projected dividend is around 19k but hopefully it can hit 20k.