Sold - all actively managed funds

I made the decision to sell all the actively managed funds to contribute to the purchase of the new property purchase.

The funds sold were:

1. Thailand
2. Taiwan
3. Vietnam
4. Asian small cap
5. European small cap

As a group, I lost money on these investments (largely due to buying too close to the top of the last bull market).

Given that I now have a modest range of index tracking ETFs which have much lower expense ratios (although still high by US standards), it was a relatively easy to decide to liquidate these funds rather than the ETFs, the HK listed stocks or to use the money currently allocated to ELDs.

As an aside, I found it difficult to figure out whether the funds had out performed or under performed their respective benchmarks during the periods I held them.