Felice's Fund

Year 2027 Fund

You may want to ask why 2027. Well, long way to go but this is the fund created for my children's college education. Let's see how far it can go...

This is a fund purely based on fundamentals (as it is with a very long term view) and to a certain extent based on principles of value investing. I think the best comparison that I can think of is firstly against the Bursa Composite benchmark and for a passive person, comparison against putting the same amount of money in the Fixed Deposit.

Position for closing 12 June 2014 is as per below:


The total dividends collected todate for the portfolio


Example of how and where I took the dividend payment, the ex-date is recorded rather than payment date. The below 18 sen per ordinary share is recorded for Airasia as at 11 March 2013:


Comparison against Bursa Composite and Fixed Deposit assuming the RM50,000 is put into bank's FD




Cash invested todate (RM50,000) vs Fixed Deposits at average of 3.2% per annum (compounded)


This has not been an investment which I put in RM50,000 from day one but the cash was gradually invested beginning from 28 Jan 2011 and latest on 30 Oct 2012.

Sales todate

Note that the trading cost is based on the standard rate of 0.42% for internet trade. There are brokerage firms which charge lower rates.

Click to Enlarge

Here are the sale and purchases in reverse chronological order:

- Further bought Padini and sold Bonia
- Further bought Keuro and sold part of DKSH
- Bought Keuro and Sold YSPSAH
- Sold all of Wellcall
- Purchased Padini
- Purchased Bonia
- Sold Wing Tai
- Sold Airasia
- Purchased YSP and Sold Wellcall
- Purchased Parkson
- Purchased WingTai and Sold SP Setia
- Purchased Timecom
- Sold Padini and Purchased SP Setia
- Purchased more NTPM
- Sold Genting
- Purchased Padini
- Sold iCap
- Purchased Jobstreet
- Purchased NTPM
- Purchased Airasia
- Sold Oldtown
- Bought iCap
- Sold AEON
- Purchased Wellcall
- Sold Genting
- Purchased Oldtown and sold Airasia
- Purchased Airasia and Genting
- Purchased Aeon and DKSH
- Sold Top Glove
- Purchased Top Glove and Genting

This portfolio serves as a position for myself which was started on 28 Jan 2011 rather than a call to buy or sell. In case you happened to follow one or more purchases and sale reminiscent of this portfolio, it should be your own call rather than the writer's. Do seek experts advice, if there are any...

22 comments:

CrabGrill said...

Just curious to know...
Why don't you pump in new cash inside the fund?
Or you are putting your fresh money in another fund?

felicity said...

Well, first of all this is a fund which I have created for much longer term. Additionally, this small fund is all purely fundamental pick which most of you can see. On my own other picks, I do sometimes sway from being a bit more careful.

Giacomo said...

Thanks... your blogs helped me a lot... :)

AdCool said...

I wonder if you reinvest back your capital gain? I have this poor self discipline to reinvest back my gain and due to that, my share portfolio didn't really grow much. In addition, I didn't really keep injecting cash into the market.

However I plan to start injecting monthly fund into my investment acct even if I have no target shares to purchase for now. At least I have saved up some "bullets" when I have some counters that I would like to buy in near future.

felicity said...

I definitely do reinvest back my earnings and dividends earned.

Yafei said...

Felicity, which broker do you use to minimize your transaction costs?

felicity said...

Hi Yafei

I think you can go to www.money.my to check out. Mine is not the best.

IP's Guest said...

Sorry should be www.imoney.my rather then www.money.my

Joyce Tan said...

Hi, how did you calculate the Cash vs Portfolio percentage?

felicity said...

My mistake, should be total cash holding vs the total portfolio. Did not add the last 2 purchases i.e. Bonia and Padini. Thanks for highlighting.

山下聖人 said...

Felicity, will you buy more Parkson? I think a good time to buy more now, I myself bought some in 3.50

uglyorgan said...

Hi Felicity;
I'd been following your blog for a while, and really like the way you are being transparent in all your transaction. I am learning and currently starting to build a portfolio which based on fundamental analysis (just like your felice's fund concept). I am wondering can you share with me the excel file that you use to keep track of your portfolio? If not, i will have to build from scratch and i am not that good in microsoft excel. Thanks. I can provide my email.

felicity said...

I do not share my excel file as it has link to my other portfolio. However, I have added how these numbers add up in the sale portfolio.

Nazri Balachi said...

How do you calculate your CAGR?

felicity said...

There is no CAGR, just average return on annualised basis

Malaysia Investor said...

Hi Felice,

In 2003, DKSH's net profit(NP) is 10.5 million. In 2007, the NP drop to 1.4 million. Then there is sudden improve of NP to 77 million. What products are they selling which ramp up their sales.

DKSH's net profit margin is very thin. In 2007, NP's margin is about 0.043%. And in it's NP margin improve to 1.64% which is still very thin. What are the chances that their sales will drop and they make a lost? What is the competitive advantage over their rivals in a 10 year period?

felicity said...

HI Malaysian Investor

I do not think there is a sudden improvement from small profits in 2007 to some RM77 million more recently. DKSH has been the largest market expansion / distributor in Malaysia for some time.

Over those period, as you can see they have improved on processes and systems to allow better performances.

On its competitive advantage - size, reach, systems, customer base.

Any large company overseas that want to penetrate Malaysian market and do not want to spend that much on distributing their products, will want to work with DKSH. This is even more so when US and European companies look at Asia as the most attractive destination to sell.

AdCool said...

Hi Felicity,

I been looking around for Quarterly Financial Report date as announced by all the counters in Bursa. Unfortunately I can't locate any. Do you know where can I find such info on all the future date announcement for Q413 financial reports?

felicity said...

announcements.bursamalaysia.com.

Search under financial reports.

AdCool said...
This comment has been removed by the author.
AdCool said...

Hi Felicity,

I am aware of the historical announcement in Bursa. Am seeking those future announcement dates. I wonder if there is a compiled list on this. Just as when I received the market update from the investment banks, they already know of the future date of announcement i.e. MAS 18 Feb 2014, AirAsia 26 Feb and AAX 25 Feb

HW said...

Hi Felicity,

Would like to hear your opinion of Parkson holdings berhad? Do you think its good time to acquire more?

regards,
HW