Mixed trading in March

Transcription

1 Mixed trading in March Executive Summary Portfolio Performance So Far The 1-month performance of model portfolios were mixed, with returns ranging from -0.92% to 0.06%. There will be no switches for the portfolios in April. Bonds Solutions Portfolio Update The portfolio was up 0.06% for the month and PIMCO Emerging Markets Bond SGD Hedged outperformed, gaining 1.00%. Money Plus + Portfolio Update The portfolio was up 0.26% on a 1-month basis. s Performance Table s were mixed in the 1-month period, with Fidelity ASEAN outperforming and Schroders AS Gold and Precious Metals underperforming. Market and Model Portfolio Update* Equity markets slowed in March after the recovery in Jan and Feb, with the MSCI World gaining 1.9 while MSCI AC Asia Pacific ex Japan retracing 1.. China was the main laggard as economic data continue pointing to further slowdown, with Shanghai Composite Index falling 4.1%. Within bonds, emerging market outperformed developed market in terms of performance and fund inflow. Commodities generally fell in Mar, with the Dow Jones- UBS Commodity Index declining 3.1%. Most model portfolios and funds were relatively flat for the 1-month period, with performance around -2% and 2%. Schroders AS Gold and Precious Metals was an exception, falling 8.3% for the one month period, causing cash portfolios to underperform CPF portfolios. On the other hand, Fidelity ASEAN contributed to the cash portfolios as it rose 1.8%. High Risk Cash High Risk CPF Table 1: Model Portfolio Performance* Med Risk Cash Med Risk CPF Low Risk Cash Low Risk CPF Bonds Solutions Portfolio Money Plus + Portfolio 1 Week -0.59% -0.58% -0.32% -0.53% -0.29% -0.41% 0.09% 0.00% 1 Month -0.53% % -0.29% -0.92% 0.06% 0.06% 0.26% 3 Month 5.96% 5.94% 4.44% 4.83% 3.40% 4.34% 1.94% 1.00% YTD 5.94% 5.88% 4.66% 4.59% 3.72% 4.41% 1.79% 0.98% 1 Year -3.23% -3.01% -2.51% -1.14% % -0.34% % % 3.62% % 5.00% % 10.01% 5.40% 6.98% 0.92% 3.70% % % % % -9.41% % 27.49% % 3.92% 7.29% Net of WRAP Fees at 1. pa at 0. pa at 0.2 pa Inception 29 Dec Jan Oct 2011 Source: Bloomberg, Financial Express and UT Research Team, performance as of 26 th Mar Money Plus is not a deposit and investment through Money Plus is not the same as placing money on deposit with a bank or deposit-taking company such as a finance company. 1

2 Key Changes to High Risk Portfolio ( Source: Cash) Fidelity ASEAN and Aberdeen Global Opportunities outperformed, with 1.77% and 1.47% respectively. The underperformer was Schroder AS Gold and Precious Metals A Acc SGD Hedged, which declined 8.27% Table 2: Latest Portfolio Components High Risk Portfolio First State Bridge (Core) Fullerton Asian Bond (Core) Aberdeen Pacific Equity 12% Schroder AS Gold and Precious Metals A Acc SGD Hedged Templeton Global Total Return A H1 MDis Fidelity ASEAN 13% Aberdeen Global Opportunities Aberdeen China Opportunities Phillip Money Market (Cash Component) 2

3 Key Changes to Medium Risk Portfolio ( Source: Cash) Fidelity ASEAN and Aberdeen Global Opportunities outperformed, with 1.77% and 1.47% respectively. The underperformer was Schroder AS Gold and Precious Metals A Acc SGD Hedged, which declined 8.27% Table 3: Latest Portfolio Components Medium Risk Portfolio First State Bridge (Core) (Core) LionGlobal Singapore Fixed Income Investment DWS Lion Bond Aberdeen Pacific Equity 12% Fullerton Asian Bond Fidelity ASEAN 13% Aberdeen Global Opportunities Schroder AS Gold and Precious Metals A Acc SGD Hedged Phillip Money Market (Cash Component) 3

4 Key Changes to Low Risk Portfolio ( Source: Cash) Aberdeen Global Opportunities and Aberdeen Pacific Equity outperformed, with 1.47% and 0.77% respectively. The underperformer was Schroder AS Gold and Precious Metals A Acc SGD Hedged, which declined 8.27% Table 4: Latest Portfolio Components Low Risk Portfolio First State Bridge (Core) (Core) LionGlobal Singapore Fixed Income Investment Fullerton Asian Bond Aberdeen Pacific Equity 12% DWS Lion Bond Schroder AS Gold and Precious Metals A Acc SGD Hedged Fullerton Short Term Interest Rate 13% Aberdeen Global Opportunities Phillip Money Market (Cash Component) 4

5 Key Changes to High Risk Portfolio ( Source: CPF) Aberdeen Global Opportunities and Aberdeen Pacific Equity outperformed, with 1.47% and 0.77% respectively. The underperformer was Fidelity China Focus, which declined 3.18% Table 5: Latest Portfolio Components High Risk Portfolio First State Bridge (Core) Aberdeen Global Opportunities (Core) Fidelity China Focus Aberdeen Pacific Equity 12% DWS Lion Bond Schroder Singapore Trust 13% PineBridge Singapore Bond Aberdeen Global Emerging Markets Nikko AM Shenton Short Term Bond (Liquidity Component) 5

6 Key Changes to Medium Risk Portfolio ( Source: CPF) Aberdeen Global Opportunities and Aberdeen Pacific Equity outperformed, with 1.47% and 0.77% respectively. The underperformer was Fidelity China Focus, which declined 3.18% Table 6: Latest Portfolio Components Medium Risk Portfolio First State Bridge (Core) Aberdeen Global Opportunities (Core) Aberdeen Pacific Equity 12% Aberdeen Global Emerging Markets PineBridge Singapore Bond Fidelity China Focus LionGlobal Singapore Fixed Income Investment 1 13% DWS Lion Bond Nikko AM Shenton Short Term Bond (Liquidity Component) 6

7 Key Changes to Low Risk Portfolio ( Source: CPF) Aberdeen Global Opportunities and Aberdeen Pacific Equity outperformed, with 1.47% and 0.77% respectively. Table 7: Latest Portfolio Components Low Risk Portfolio First State Bridge (Core) PineBridge Singapore Bond (Core) LionGlobal Singapore Fixed Income Investment 1 Aberdeen Pacific Equity 12% DWS Lion Bond 1 Aberdeen Global Emerging Markets Nikko AM Shenton Short Term Bond (Liquidity Component) 13% Aberdeen Global Opportunities 7

8 Key Changes to Bonds Solutions Portfolio ( Source: Cash) PIMCO Emerging Markets Bond SGD Hedged outperformed, gaining 1.00%. Table 8: Latest Portfolio Components Bonds Solutions Portfolio Fullerton Asian Bond 18% DWS Lion Bond 13% PIMCO Emerging Markets Bond SGD Hedged PineBridge Singapore Bond 18% Templeton Global Total Return A H1 MDis LionGlobal Singapore Fixed Income Investment Phillip Money Market (Cash Component) Schroder Singapore Fixed Income 18% 18% 8

9 Key Changes to Money Plus + Portfolio ( Source: Cash) Fullerton Short Term Interest Rate and Nikko AM Shenton Short Term Bond gained 0.34% and 0.46% in the 1-month period. Table 9: Latest Portfolio Components Money Plus+ Portfolio Nikko AM Shenton Short Term Bond LionGlobal SGD Money Market 30% 30% Fullerton Short Term Interest Rate Phillip Money Market (Cash Component) 3 + Money Plus is not a deposit and investment through Money Plus is not the same as placing money on deposit with a bank or deposit-taking company such as a finance company. # There is no guarantee that the returns over the long term will be stable and steady as investment returns are subject to market conditions and investment risks which may cause you to lose your original principal amount invested. 9

10 Table 10: Portfolio s Performance Name 1 Mth Return % 3 Mth Return % 1 Yr Return % 1 Yr Sharpe Ratio* Aberdeen China Opportunities Aberdeen Global Emerging Markets Aberdeen Global Opportunities Aberdeen Pacific Equity DWS Lion Bond Fidelity ASEAN Fidelity China Focus First State Bridge Fullerton Asian Bond Fullerton Short Term Interest Rate LionGlobal SGD Money Market LionGlobal Singapore Fixed Income Investment Nikko AM Shenton Short Term Bond Phillip Money Market PIMCO Emerging Markets Bond SGD Hedged PineBridge Singapore Bond Schroder Singapore Trust Schroder Singapore Fixed Income Schroder AS Gold & Precious Metals A Acc H Templeton Global Total Return A H1 MDis Source: Financial Express, performance as of 26 th Mar 2012 *Sharpe ratios are calculated assuming a risk-free rate of

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