Portfolio Update for November 2025

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This will be a relatively short post, just to update on the transactions for the month.

For the month of November, it was once again a volatile month for my portfolio.  In the first half of the month, the market sentiment was filled with positivity even with the shutdown of the US government.  However, at the mid of the month when the US government reopens, the fear of Artificial Intelligence (AI) bubble popping starts to spread throughout the market and volatility returned.  For the next few days, the big US Tech faced a small correction.  This is exacerbated with Jerome Powell signaling that the FED is intending not to cut interest rates in December.  This is reflected in FedWatch tool which showed that the probability of the FED cutting rates by 5 basis points is less than 50%.  I do not know is this a temporary retracement of the share prices, to allow the Christmas year end window dressing effect to take place nearer the date and share prices propel to new all time highs, or will this be the start of the pivot.

Personally, having liquidated my US Portfolio to clear my Malaysia mortgage loan, my portfolio has missed out the bull run which may propel my portfolio to greater heights.  However, I am contended with the move, as market movement is unpredictable, but clearing of the outstanding loan and improving my cashflow is a definite and justified move, especially with the strengthening of the Malaysia Ringgit against the Singapore dollar recently.  That definitely helped me save a couple of thousand dollars and also compounded interests payable.  Although I am without the US growth engine, I am also pleased with the performance of my SG Dividend Portfolio this month.

Despite the poor performance of the REITs this month, the non-REITs and banks are helping to support my portfolio to gradually increase in market value.  As usual, being diversified across sectors helps to keep me sane and confident of my portfolio.  However, the persistently poor performances of Mapletree Industrial Trust (MIT), Mapletree Logistics Trust (MLT), Mapletree Pan Asia Commercial Trust (MPACT) and Frasers Logistics and Commercial Trust (FLCT) leads me to do further rebalancing.  However, I am not just selling away a part of the shares, instead, a large part of the proceeds will be used to buy Amova-StraitsTrading Asia ex Japan REIT Index ETF, also known as CFA ETF.  This will help me to remain exposed to the REIT sector in preparation for the eventual recovery of REITs when major interest rate cuts do materialize, and also allow me to be exposed to other REITs that I currently do not already own like Frasers CenterPoint Trust and Keppel Data Center REIT.

On a happier note, all the dividends that I am eligible to receive for the remainder of 2025 has been announced and I am happy that I am expecting record dividend collection this year again!  I am glad that I have exceeded my annual dividends target of SGD 30K, which translate to SGD 2.5K per month.  More detailed updates regarding my dividend collection will be posted later in the 4th quarter update next month.

For this month, I injected approximately SGD 1.5K capital, and used the sales proceeds to buy the following shares:

SGX:    Amova-StraitsTrading Asia ex Japan REIT Index ETF

             Bank of China HK SDR

             ComfortDelgro

             HRNetGroup

             Riverstone

             United Overseas Bank

On the other hand, I have sold the following shares:

SGX:    Frasers Logistics and Commercial Trust

             Hong Leong Finance

             Mapletree Industrial Trust

             Mapletree Logistics Trust

             Mapletree Pan Asia Commercial Trust

In addition, I have also reinvested dividends on the following shares:

SGX:     United Overseas Bank


Total Portfolio Value has increased by approximately 0.8% to around SGD 695K including capital injection (SGD 707K including cash).  I am glad that my portfolio market value continues to increase month over month, however, I am also embracing any possible correction that may arrive due to possible recession or return of inflation.  For now, I will just sit back, relax, and wait for the dividends to stream into my bank account.

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