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Much has happened since our ACM event in December last year. I am glad to report that the equity portfolio migration is progressing well. At the same time, the tense changes occurring globally are affirming the benefits of a broadly diversified investment portfolios through managed funds.
We are excited to roll out a beta version of LPA’s Integrated Portfolio Report (IPR) that shows on one page all your diversified investment holdings. No more retrieving numbers from different sources for a full picture of your investment holdings! This will be accessible through your Dashboard on LPA Connect later this month. Our plan is to have an updated IPR produced fortnightly for your reference. Please share your thoughts as you begin using it.
Also pleasingly notable is how the portfolios’ market values have risen in recent months. Having curated a portfolio that includes global value (Dimensional) and global growth (DPMS) components, we have benefited from the market’s recovery stemming from easing interest rate fears and re-opened economies. At the same time, our European deep value fund (Chatrier) continues to clock gains as the continent makes structural changes to become less dependent on Russian oil and gas.
Our proprietary Ascending Steward Asia Fund (ASAF) has recovered to nearly par value after a challenging six months. The choppy markets immediately after our launch benefited us as we bought well-managed, high-potential companies in Asia with sound fundamentals at attractively lower prices. In some cases, dividend yield is in the high single digit percentage.
Borrowing a line from Mark Twain – rumors of my impending retirement are grossly exaggerated. I have no such plans and intend to continue working for as long as the Lord grants me physical and mental ability. Truth is, I am genuinely excited about LPA’s future and am looking forward to working even more closely with you on financial matters of importance.
The existential challenges we face globally require meaningful responses. While Singapore’s multifaceted response at a national level is already underway, most individuals are still without a personal response. Just in the areas of digitalisation and the environment alone, the shock therapy of rapid change is shifting many from denial to affirmative action mode. Included in the stirring is defining more holistic and impactful metrics for finance and investment.
The urgency of these matters suggests that the senior generation no longer have the luxury of riding into the retirement sunset as typically portrayed for the post-war-builder generation. In anticipation of this, LPA is striving to partner you by providing information and education for sound decision making and action. Indeed, we believe our stewardship efforts can be directed towards both your personal goals and those that make for flourishing humanity. By working with individuals who possess a combination of experience, faith and resources, we believe we can offer a hopeful way forward.
Thank you for your patience as we work through the changes needed to put in place the support for this important work. I hope to share our plans for this soon.
– Winston Chong