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Finance and Toast: First Portfolio Review

Finance and Toast: First Portfolio Review

I am proud to present the first series of Finance and Toast’s portfolio review! It is an exciting topic for me as I share what my holdings are like and at the same time bounce investment/portfolio management ideas with people. I struggled internally for a long time whether I should post this, but finally decided that I should do it.

I haven’t decide how I want to do this eg monthly, quarterly or ad-hoc, but I would probably do an update if there are meaningful changes to my portfolio mix.

For the month of September, this is how my portfolio looks like. 

Source: Finance and Toast

A. Private Fund (59.3%)

At the start of this year, I decided to close out almost 80% of my equity positions and invest into my company’s private markets fund. Reason being I don’t have much time to monitor the individual stocks and prefer to let my money be handled by professionals. 

Throughout my personal investing tenure, I had some hit and misses which end of the day let me to a conclusion that I can’t compete with the institutions by picking individual stocks.

I am almost 59.3% invested into my company’s private markets fund. This is a semi-liquid, open-ended structure with monthly liquidity. What I like about this fund is that it is diversified across the different asset classes including private equity, private debt, private real estate and private infrastructure. Returns are pretty good with moderate volatility. 

Source: Finance and Toast. Company’s private markets fund.

Another strong push for me to leave a large chunk of my net worth into my company’s funds was the reduced management fee. Even though for the month of March 2020 there was a large downwards swing, but the fund’s performance has recovered nicely. Hence, I am planning to leave my monies here for the longer term.

As this is a private fund, there are not many avenues to invest from but one of the platforms you can invest in is through LU Global, a wealth management platform for investors. You can read more about their story and background here.   

Source: Lu Global. 


B. Equities: China Mobile (5.2%)

China Mobile is a Chinese state-owned company and is the largest mobile telecommunications corporation by market cap. The company serves more than 950 million mobile customers and 187 million wireline broadband customers.

What I like about this company is that it’s one of the top players in the Chinese market, has a robust balance sheet, and able to pay out consistent dividends.

However, the share price has been on a constant decline since I invested sometime back in October 2016. I have added some more position into China Mobile when it was in a decline and my average cost price is ~HKD 72, which I am down about -29% till now. Ouch.

Source: Google charts

I am still planning to hold on to this stock until it recovers simply because I believe on the fundamentals of the company. However, if anyone has a view on this or knows why the share price has been on a constant decline, I will be glad to find out more.


C. Equities: Comfort Delgro (17.1%)

Comfort Delgro needs little introduction – most of us know them from taking cab in our daily lives. However, it is more than just a taxi company with revenue streams coming from public transport services, automotive engineering services, inspection and testing services, driving centre, car rental and leasing, and bus station.

Source: Comfort Delgro Annual Report 2019

The share price has came down quite significantly since the start of this year due to the COVID-19 outbreak and the circuit breaker.

Source: Google charts

However, this to me is an attractive opportunity to buy. If you look at the history during the SARS period, Comfort Delgro’s share price surged ~75% in 9-10 months post SARS. Hence, once the global economies start reopening and global travel is allowed, I believe the share price of Comfort Delgro will recover accordingly.

Source: May Bank Kim Eng, Factset

Lastly, if you take a look at the list of STI stocks, Comfort Delgro is one of the few where the dividend yield now is very attractive. In fact at it’s current price, the dividend yield is just slightly below UOB.

Source: Business Times, 15 September 2020.

I also came across Brian’s (Author of Forever Financial Freedom) comprehensive write up on why Comfort Delgro is a strong recover candidate play and you can read more here


D. Luxury Timepiece (7.7%)

I am a fan of watches and I count this as part of my net worth / portfolio under alternative investments. I was lucky to have purchased a Rolex Datejust back in 2018 and the price of this has went up by 17.7% on the secondary market. 

Of course, I do not intend to sell it at this current point in time as I still very much enjoy wearing it on special occasions.


E. Company stock (4.4%)

I am given company stock which comprises of 4.4% of my portfolio and I intend to hold it for the longer term as long as I am with my company. 


F. Cash (6.3%)

I am holding about 6.3% in my portfolio so that I can be nimble should another sell-off or market correction happens. 


Do you have any other good recommendations on stocks to share? If you do, kindly share with us in the comment box below.


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P.S. All views expressed are author’s own and there are no sponsored content in this post.


Warmest regards,

Finance and Toast

1 thought on “Finance and Toast: First Portfolio Review”

  • Nice write up. You’re portfolio composition and investing allocation is alot similar to mine. Feel free to drop me a email to connect over a cup of coffee. Cheers!

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