Reflection for the year
We have approached the end of the year. This is usually the best time to do some reflections.
Our trades this year:
Two years ago, we had bought into Genting 5.125% SGD Perpetual on the basis that the company is at net cash. Hence their bond is almost risk free. The bond was called back this year. Clients earned net gain of around 6%.
BREXIT has provided good entry level for GBP bonds. Many quality GBP bonds were down. Our clients had drawn GBP loan and bought into Prudential 5% 2055 & Aviva 4.375% 2049 below par. Now the bond prices are up at least $5.
France election has resulted in French bonds trading below par. Our clients had bought into BPCE, SocGen and BNP bonds that pay 4%+ coupon and benefited. These bonds have moved up after election. Clients continue to hold onto those bonds.
Privatisation of Global Logistics Properties (GLP) has resulted in the bond fallen deeply below par. Our clients had bought the bond GLP 3.875% 2025 at around 93+. We had sold most at 97.
Our clients had earned double digit % gain from Capitaland Mall Trust, Walt Disney, Ping An Insurance, AIA, Berkshire Hathaway, Alphabet, Frasers Logistic & Industrial Trust and OCBC.
Our clients had profited from (upside participation note) UPN Alibaba & Alphabet at > 40% profit, UPN Nike & Amgen at 18% profit, UPN Starbucks & Alphabet & Disney at 5% profit.
Our worst trade comes from switching USD loan to Euro loan. To mitigate the loss, we had taken decisive action by using portfolio realised profit to buy back Euro to reduce Euro loan exposure. And we had also increased our Euro bonds and unit trusts exposure to increase Euro passive income, which we will then slowly reduce Euro loan exposure when the Euro income are in.
If you are interested to open a private bank account, send email to metal.commodity@gmail.com. Minimum requirement is SGD2mil.
Cheers!
Our trades this year:
Two years ago, we had bought into Genting 5.125% SGD Perpetual on the basis that the company is at net cash. Hence their bond is almost risk free. The bond was called back this year. Clients earned net gain of around 6%.
BREXIT has provided good entry level for GBP bonds. Many quality GBP bonds were down. Our clients had drawn GBP loan and bought into Prudential 5% 2055 & Aviva 4.375% 2049 below par. Now the bond prices are up at least $5.
France election has resulted in French bonds trading below par. Our clients had bought into BPCE, SocGen and BNP bonds that pay 4%+ coupon and benefited. These bonds have moved up after election. Clients continue to hold onto those bonds.
Privatisation of Global Logistics Properties (GLP) has resulted in the bond fallen deeply below par. Our clients had bought the bond GLP 3.875% 2025 at around 93+. We had sold most at 97.
Our clients had earned double digit % gain from Capitaland Mall Trust, Walt Disney, Ping An Insurance, AIA, Berkshire Hathaway, Alphabet, Frasers Logistic & Industrial Trust and OCBC.
Our clients had profited from (upside participation note) UPN Alibaba & Alphabet at > 40% profit, UPN Nike & Amgen at 18% profit, UPN Starbucks & Alphabet & Disney at 5% profit.
Our worst trade comes from switching USD loan to Euro loan. To mitigate the loss, we had taken decisive action by using portfolio realised profit to buy back Euro to reduce Euro loan exposure. And we had also increased our Euro bonds and unit trusts exposure to increase Euro passive income, which we will then slowly reduce Euro loan exposure when the Euro income are in.
If you are interested to open a private bank account, send email to metal.commodity@gmail.com. Minimum requirement is SGD2mil.
Cheers!
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