November saw asmall 0.77% dip in net assets. Almost all the decrease was attributable to the not-as-good-as-expected result from China Gas, the fall in the India ETF and the fall in the AUD.
Year to date the portfolio is up 4.51%. The adjusted change from when I retired in September 2013 is an 8.45% increase. Liquidity stands at 38.0 months of estimated outgoings.
Here are the details:
1. my Hong Kong/China equity portfolio fell slightly. I added some additional shares in HSBC at the end of the month;
2. my AU/NZ equities appreciated slightly. There were no changes to the portfolio this month;
3.my equity ETFs were mixed (India down, Hong Kong and China flat) in line with the local markets;
4. my position in silver fell;
5. all tenants are paying on time. We are at full occupancy. One building is currently subject to a lengthy renovation exercise. My tenant had agreed to tough it out in exchange for a significant discount on the rent (which is better than a lengthy vacancy) but has now given notice expiring at the end of January, 2017. The property will need redecorating before being put back on the market;
6. the NZD was almost unchanged but the AUD fell sharply against the HKD/USD;
7. my position in bonds remains small;
8. expenses were moderate;
9.there were no transfers to Mrs Traineeinvestor;
10. there were no derivative transactions this month.
My cash position fell during the month due to the purchase of shares in HSBC and applying some dividend income towards reducing the balance of a margin loan. I currently hold 38.0 months of expenses in HKD cash or equivalents.