Yesterday I shared the #10 to #6 top holdings in my portfolio. Click the image below to read about it if you have missed my post.
Now for the Top 5!
Regular readers would find them familiar as they have been around since the inception of this portfolio in January 2020. As mentioned in yesterday’s post, the average return shown is for the duration in which the counter has been in this portfolio.
The plummet of iFAST and Micro-Mechanics share prices over the past year has caused them to slide down the ranking. However, iFAST with the earlier strong appreciation of price and Micro-Mechanics with their substantial and stable dividend, have managed to hold on to a place among the Top 5!
I am still a believer of the iFAST story. So if they can execute their strategies well, then the profit will grow as projected and that is likely to cause her price to appreciate again. Semi-conductor industry is cyclical but my personal take is the cycle is shorter than the past. So once they are in the next up cycle, earning growth will be back and share price should recover.
Like the other two banks, OCBC has benefitted from the increase in NIM over the past year. This will be the third year since Ms Helen Wong took over CEO and there should be a clearer direction and indication on what she wants to achieve for the bank.
Similar to Frasers Centrepoint Trust and Mapletree Pan Asia Commercial Trust, the entry price of Mapletree Industrial Trust to this portfolio was at a high of $2.60. Worse still, I bought at even higher price along the way. Thanks to the dividend received, it managed to stay above water after 3 years. I am not expecting much capital gain under the current macro situation but continue to look forward to its dividend in the next few years.
And in the first position, it’s none other than the boring Parkwaylife Reit. Slowly and steadily, DPU has increased uninterrupted for 15 years, and even during the pandemic period! With the new master lease, we can expect sustainable rental growth going forward for her Singapore portfolio. While the current yield of about 3.6% is nothing to shout about, this will keep increasing and we can expect a jump from FY2026 onwards.