- Our Alpha Picks’ 5.5% and 8.1% returns for 4Q22 and 2022 respectively easily beat the STI by 1.6ppt and 4.0ppt respectively on a market-cap weighted basis.
- For Jan 23, we rejig our REIT preference by adding Mapletree Logistics Trust (SGX:M44U) and cutting losses on Lendlease REIT (SGX:JYEU).
- - Read this at SGinvestors.io -
Dec 2022 Market review.
- The STI’s 1.6% decline in Dec 23 mirrored the overall bearish tone in global markets as worries about a potential recession in major developed economies, as well as continued hawkish statements from the US Fed, weighed on sentiment.
- - Read this at SGinvestors.io -
Outperformance of our Alpha Picks in 4Q22 and 2022.
- Our Alpha Picks portfolio outperformed the STI in 4Q22 and 2022, gaining 5.5% and 8.1% on a market-cap weighted basis vs the STI’s 3.9% and 4.1% gain respectively. For Dec 22 however, our Singapore Stock Alpha Picks (December 2022) portfolio rose 1.6% on an equal-weighted basis which beat the STI’s 1.2% decline.
- On an absolute return basis, CapitaLand Investment (SGX:9CI) (+11.1% m-o-m) continued its strong run, while Genting Singapore (SGX:G13) (+8.5% m-o-m) and Thai Beverage (SGX:Y92) (+7.9% m-o-m) continued to benefit from the positive China reopening sentiment.
- The main underperformers were SingTel (SGX:Z74) (-5.5%), Keppel Corp (SGX:BN4) (-3.7%) and DBS (SGX:D05) (-3.6%) which suffered from profit taking after a strong share price performance in Nov 22.
Rejigging our REIT portfolio: Adding Mapletree Logistics Trust and removing Lendlease REIT for Jan 2023
- Read more at SGinvestors.io.
