September 1, 2011

Asset Allocation - End June 2011

Portfolio review for Q2 2011 has been way overdue and I would like to apologize for the delay in updates to my portfolio holdings and its performance.

As compared to my portfolio in Q1 2011, there is some minor changes to the fund compositions in my Q2 2011 portfolio. I've switched my OSK-UOB Asian Growth Opportunities Fund (AGO) to OSK-UOB Resources Fund (RESO) as I feel that AGO fund is too volatile for my liking, even though i was making some profit on this fund. I've decided to concentrate my Asia Pacific ex-Japan exposure to only a single fund, Public Far East Select Fund (PFES).

Since I've switched to OSK-UOB Resources Fund (RESO), this fund will be my main fund for exposure to resources sector, although the resources exposure is limited to AP ex-Japan region, as compared to the global nature of previous holding of Pacific Global Agriculture, Infrastructure & Resources Fund (GAIR). I've disposed off GAIR fund in Q2 due to lack of performance as well as limited fund size.

As for fund performance in Q2 2011, all equity funds in my portfolio performed negatively with KLCI Tracker fund being the worst performer of -5%. All bond funds performed positively in the range of 1 - 2.2% to buffer the negative return of equity funds. Moving forward, I do not see any changes in fund composition for the rest of the year. The only changes that i might make would be to the allocation to foreign equity funds as these funds are quite volatile and I need to be nimble to counter react against sharp down of foreign equity funds.

Below is the snapshot of asset allocation for June 2011 and March 2011 for comparison purpose.

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