Just a quick update on the Jun portfolio as there isn't a lot of activities going on.

I managed to divest OCBC partially when the share price hits $8.92 last week before it plunges down quite a bit to where they are today. My rationale for doing so is because the valuation seems rich enough at around 1.1x P/BV which warrants justification for taking off those profits. Banks are never going to be in the portfolio for the long term because of its exposure to the direct economy in nature so it will be a trading position for now. 

I have also received a scrip of 134 shares which I have kept it for now. The divestment has pushed my holdings in OCBC from the top to the bottom for Jun.

I managed to redirect the proceeds to buying UOL at $5.42 which I had blogged here in more detail. I remain convinced that this will be a good prospective returns sometime in the future which will bring me double digit returns, which has always been a target for any purchase.

Last but not least, I also managed to redirect the rest of the proceeds to buying FCT which I blogged here not long ago. FCT remains part of my long term portfolio and I can't be more than happy to get them at a cheaper valuation than I did a month or two ago. I can be sure that I will add on more of the company should the share price goes down further in the short term.

The portfolio continues to outperform the market by increasing from the previous month of $420,834 to $426,343 this month (+1.3% month on month; +42.1% year on year). In the midst of the market volatility, some of the companies in the portfolio remain strong due to their fundamentals.

Also, I've started to input my transactions into the sgxcafe platform yesterday which would directly compute my returns for this year. As of today, the XIRR YTD return for the portfolio is at 12.2% while the benchmark for STI has returned -3.9% this year. Even though it's trending downwards, I am generally pleased with how the portfolio has performed.

In terms of dividends, it will be a dry month until August where most of the companies are once again dishing out dividends after they announced their quarterly results shortly.

The cash portion remains low at 7% though I am awaiting for the CMP offer to go unconditional to finalize pretty soon. Once that happens, the cash portion would bump up to around 18%.

The Brexit event continues to headline the market and we are 4 days away from what could possibly be a game changer to the market in the short term.