Portfolio update

With markets in such a big mess due to Greece, I made some switches to my portfolio around two weeks ago. For one thing, I don't foresee that the Greece crisis will be resolved so soon, so this time I switched some of my equities to bonds and took profits on some funds as well. And it's a good thing I did; markets continued to fall over this period. 

CPFIS-OA

Fund	Sector/Region	Asset Class	% of portfolio
Aberdeen Global Emerging Markets	Global Emerging Markets	Equity	16.07%
Eastspring Inv UT Pan European	Europe	Equity	14.63%
Fidelity America USD	US	Equity	23.67%
First State Dividend Advantage	Asia Pacific ex Japan	Equity	13.83%
First State Regional China	Greater China	Equity	10.60%
Henderson Global Technology	Global Technology	Equity	7.70%
LionGlobal Japan Growth Fund	Japan	Equity	7.08%
Nikko AM Shenton Short Term Bond (S$)	Short Duration	Fixed income	6.43%

Asset allocation: 94% equities, 6% fixed income

Changes:

Sold First State Global Resources
Bought Nikko AM Shenton Short Term Bond (S$)

First State Global Resources has plummeted by 30%, and I have decided to switch it to a short duration fund and wait for an opportunity to enter the market again. Thinking of going into Europe because of its cheap valuations, but Europe already takes up quite a substantial portion of my CPF-OA portfolio. Hmm.

CPFIS-SA

Fund	Sector/Region	Asset Class	% of portfolio
DWS Premier Select Trust	Global	Balanced	27.17%
First State Bridge	Asia Pacific ex Japan	Balanced	72.83%

Asset allocation: 100% balanced

No changes. Still looking for a good chance to put the money back into my CPF-SA account. DWS Premier Select Trust is down by 3.06% while First State Bridge is down by 1.44%.

Cash

Fund	Sector/Region	Asset Class	% of portfolio
Aberdeen Pacific Equity	Asia Pacific ex Japan	Equity	19.56%
Aviva Inv Glb HY Bd Axh SGD	High Yield	Fixed income	12.50%
FTIF-Templeton Glb Total Ret A(mdis) SGD-H1	Global	Fixed income	7.91%
Fidelity America USD	US	Equity	4.63%
First State Regional China	Greater China	Equity	7.02%
LionGlobal Spore Fixed	Singapore	Fixed income	8.64%
Nikko AM Shenton Short Term Bond (S$)	Short Duration	Fixed income	25.75%
United Asian Bond Fund	Asia ex Japan	Fixed income	9.54%
United Emerging Markets Bond Fund	Emerging Markets	Fixed income	4.44%

Asset allocation: 31% equities, 69% fixed income

Changes:
Sold Aberdeen European Opportunities
Sold (partial) Aberdeen Pacific Equity
Sold BNPPL1 Eq Russia EUR
Sold DWS SGP small/midCap A SGD
Sold Fidelity Glb Fin Serv EUR
Topped up into Aviva Inv Glb HY Bd Axh SGD
Topped up into United Asian Bond Fund
Topped up into LionGlobal Spore Fixed Inc-A
Bought Nikko AM Shenton Short Term Bond (S$)


As shown, my cash portfolio's asset allocation (equities - bonds) has changed from 70-30 to 31-69. Aberdeen Pacific Equity was still making money, so I sold off some to take profits. BNPPL1 Eq Russia EUR, Aberdeen European Opportunities and Fidelity Glb Fin Svc EUR were also sold off as I think markets will still go down further. As for DWS SGP small/midCap A SGD, I have decided to invest directly in the Singapore stock market instead of going through a unit trust.

The high allocation to Nikko AM Shenton Short Term Bond (S$) signifies that I am just waiting for a good opportunity to enter the market again. Markets are unbelievably cheap now, but I think there is still room for it to fall further. Will probably enter it in staggered intervals and in small amounts.