The Singapore stock rally in late-February and early-March helped lift the portfolio. My basket of shares gained 14% (inclusive of dividends received) compared to three months ago, compared to the STI, which fell 1.6% during the same period. Transactions were limited to the purchase of 12,000 Super Group shares over on two occasions, as well as, the receipt of F&N dividends. There is about SGD220 in free cash.
GMG Global saw the sharpest percentage share price gains. The rubber planter grew 90% mostly on news of the merger with Halycon Agri. Petra Foods was distant second, rising 33% during the same period, mostly on very thin trading volumes. Dollar-wise, Petra added the most to my portfolio, increasing it by SGD7,600. F&N was the only counter that failed to register gains.
In line with my March forecast, I expect the road to recovery ahead, to be less bumpy. I do get the sense that while the depressing macro news - recession, unemployment, falling housing prices - has just started being reported, the worst (in terms of emotions) is over. I will be building up cash though, as it is a goal that I have been neglecting.
