Our retail research team has created 3 stock lists, namely Growth, Value and Yield.
|The Growth List comprises of small-mid capitalisation companies with business catalysts which will potentially grow their earnings in the near future. The Growth portfolio would be suitable for investors looking for higher returns and are willing to tolerate the risk of higher short-term volatility of stock prices.|
|The Value List focuses on companies which are undervalued based on their share prices as compared to the company fundamentals. It would be suitable for conservative investors who prefer price stability and have a longer investment horizon.|
|The Yield List comprises of stocks that provide consistent dividend pay-out. It would be suitable for investors whose primary focus is to gain regular dividend income from their investments.|
April Market Overview
The Singapore market suffered a sell down in early Apr due to trade tensions arising from the tit-for-tat tariff threats between US and China, but the STI rebounded higher subsequently as concerns over the trade spat receded.
Banks, in particular, were the biggest gainers in the STI on upbeat earnings prospects. Meanwhile, Keppel Corp, ComfortDelgro, GentingS'pore and SGX rallied on a turnaround in business outlook.
Ytd, the STI logged a 6.2% gain (7.1% inclusive of dividends). But on an unweighted basis, the average return of STI constituents was only 1.1%, suggesting that the index rise was concentrated amongst a handful of heavy weighted stocks.
While the Growth, Value, Yield (GVY) basket of stocks continued to outperform the market with an average ytd total return of 9.3%, the performance was marred by moderating semiconductor industry and customer order outlook in Apr that took the wind out of several tech-manufacturers.
Growth List +18.6% YTD
Average total return of the Growth portfolio was shaved by sharp retracement in share prices of Valuetronics and Venture, as both reacted to reports of softer sales by their key customers.
However, the correction in share prices appears to be overdone, and we are retaining the stocks in the portfolio to position for seasonally stronger quarters ahead.
Value List -6.6% YTD
Performance of our property-centric Value portfolio continued to be underwhelming, as they still seemed to lag behind the upturn in the Singapore residential market.
SIIC was a disappointment in the wake of its secondary listing in HK as the China water sector was de-rated and we await its 1Q18 results before reviewing its position in the portfolio.
Yield List +2.1% YTD
The Yield portfolio was also weakened by the de-rating of UMS along with its industry peers, but buttressed by resilient performance of Manulife US REIT.
Note: * Including dividends
** Priced in USD
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