And don't forget the suckish Hwang REITs & Infra Fund too....

Xuzen

Kan saya dah cakap... this round is USD/MYR play.

Xuzen

I'm so happy, I'm sooooooo happy... at long last, a website that can compare apple to apple; orange to orange insurance product. No need to ask quotation from various agents to hunt for the best deal! Yay!


I FSM Insurance!

Xuzen

Limited for now, but I am very sure more insurer will jump on the bandwagon.

Look at FSM UT, they now cover almost the entire industry's offering except "you know who ".

Xuzen

Manulife US equity naik!

Manulife India also naik!

RHB Asian Income also naik!

Looks like the market don't give a darn to Brexit!

Xuzen

Story telling time:

If you all recall during the early of this year, the whole market came tumbling down and what was the cause? China! Yes China and its stupid circuit-breaker fiasco! No where was safe, no geographical region was spared..... and this dump was persistent for quite some time, half a year perhaps.

Now, contrast this with brexit. It created such hoo-haa, so much noise. When it actually happen, the market reacted. However if you notice it, the hoo-har and scare is soo short lived. Like the firework during fourth of july. All fanfare, entertaining but very short lived and does not impact much.

What my point is, China fiasco is so long lived compared to this Brexit thingy. This means that, the world just don't give a f3cking care about a small ang-moh island anymore. This small ang-moh island has lost its significance in the larger scheme of things.

Xuzen

Nope, not at all.

Xuzen

Of course.

Just for sharing:

I have noticed that the risk adjusted return of Malaysia centric fund is going downhill. Just a heads up to fellow FSM-UTF investors, perhaps it is time to reduce the weightage?

As for me, for the remaining 2H-Yr2016, I will reduce by method of reversal DCA my M'sia centric UTF to about 20%. At the beginning of the year, it was at 40%.

I am going to increase the Asia-Pac region (30%) and US (35%). India (15%) and M'sia (20%).

Xuzen

Yes.

In fact I am more bullish on the Asia-Pac region than US.

US (if take away the USD/MYR factor), I would give it a neutral call.

Xuzen

IMHO, China centric UTFs are too volatile and unpredictable for my risk appetite. If you do recall, I wrote about it before. I got burned by it in mid 2015. I have just looked at the chart again and China centric UTFs have not recover fully from the mid 2015 dropp and mind you, it has already been one year since.

With regards to Korea, why bother about it? There are no Korea centric UTF available. I will just buy into Asia-Pac ex Japan UTF and let the fund manager allocate it accordingly to his best knowledge / skill.

But what do I know? I am no fund manager. At best I was just a Unit Trust Agent / CONsultant.

Xuzen

This post has been edited by xuzen: Jul 22 2016, 07:46 PM

This brings to my mind that not all advise are applicable universally. If a reader of this forum from Singapore, then the USD/MYR factor will definitely not applicable to him or her which in this case this investor should view the US exposure as neutral.

Xuzen

I am partial to RHB Asian Income In lieu of Ponzi 2.0.

Also I want to make a statement about Manulife India. This is a very high risk UTF and should be part of a larger portfolio. I would never buy it as a standalone fund.

Xuzen

I am! My advise above is as a general rule to see Manulife India as part of a portfolio and not see it as an individual. Sum of part >>> individual part alone kind of theory.

Xuzen

I am glad you made some gain. It was all bad news since Jan 2016. Hopefully this 2H should offer some reprieve.

Yes, I will top up on Asia-Pac ex Japan exposure.

On a separate note, I want to highlight an observation.

Take a look at two distinct country centric UTF; namely CIMB Greater China (0.96) and Manulife India (0.92). The number inside the brackets are the Sharpe Ratio as taken from FSM website (Fund Selector function).

Now, take a look at UTF RHB China-India fund (1.06). Two separate individual country has lower sharpe ratio individually but when combined in a portfolio, the sharpe ratio get ramp up by 15 bps. From Morningstar, the correlation-coefficient of these two country stock market is very low, that is, at 0.28.

So, the point here I want to make is, low correlation-coefficient which is the quantitative measurement of diversification will improve the risk-adjusted return of portfolio.

Xuzen

P/S

Some explanation of academic terms:

Risk is a concept or idea. Volatility is the observable outcome of risk and Standard Deviation is the qualitative measurement of volatility.

Similarly diversification is a concept or idea. Covariance is the observable outcome of diversity and Correlation-Coefficient is the qualitative measurement of diversification.

In simple layman term, it is like high and low. It is a perception, how high? How low? Length is the observable outcome. And meter is the qualitative measurement of length.

Let's say Mt Everest is higher than Mt Kinabalu. How high you may ask. Mt Everest is 13,000 meters whereas Mt Kinabalu is 10.000 meters. So we can say Mt Everest is 3,000 meters lengthier than Mt Kinabalu.

This post has been edited by xuzen: Jul 23 2016, 03:35 PM

You mean they no use crytal ball wan meh?

After letting you see my balls, you prefer someone else? How could you? You heartless beast! TALAK! TALAK! TALAK!

OK, now let's talk about our TALAK settlement... everything yours 50% become mine right?

Xuzen

It was an under-performer for almost a year!

Xuzen

My style has always been to seek stability rather than to chase return.

Ponzi 1.0, that is Affin-Hwang Asia Ex Japan fund is exposed to Asia small cap equities. When she rebounds, sure geng wan like what is happening now. When vice-versa happens, also very geng!

I choose the middle way. It is about one's risk appetite!

Bear in mind, in my portfolio I have Eastspring investment small cap fund and also Manulife India equity fund, that is , both are very high risk, just like Ponzi 1.0. I let them do the job equivalent to Ponzi 1.0.

I think lately most of the portfolios are very black. Give yourself a pat on the back, sister, for staying invested even during the doldrums period from Jan 2016 to Jun 2016.

Xuzen

This post has been edited by xuzen: Jul 25 2016, 11:43 PM

No! Gua sudah cerai sama dia sudah satu tahun. Masih syiok sama awek baru gua (RHB Asian Income fund).

Xuzen