Disclaimer: This article constitutes the author’s personal views and is for entertainment and educational purposes only. It is not to be construed as financial advice in any shape or form. Please do your own research and seek your own advice from a qualified financial advisor. From time to time, the author may hold positions in the below-mentioned stocks consistent with the views and opinions expressed in this article. I have positions in all of the below stocks when publishing this article. This is a disclosure - not a recommendation to buy or sell stocks.

Portfolio update

The portfolio rose +0.4% month-on-month and is now +17.0% since its inception in October 2021. But this steady increase masks volatility in the portfolio, with MAP Aktif up massively. Several stocks disappointed, including VTech and Niu Technologies. The rising US Dollar has also been a headwind.

Let me summarise the major movements in share prices since the last reporting date:

• Delfi’s share price rose somewhat after UOB Kay Hian initiated coverage
• MAP Aktif rose, most likely due to inclusion into MSCI’s global small-cap index
• SBS Transit rose after better-than-expected 4Q2022 numbers
• Pico Far East rose after the board said it would seek a mandate to buy back up to 20% of shares outstanding, vs just 10% last year
• On the negative side, Niu Technologies had a downgrade due to its weak 4Q2022 numbers, which suffered from China’s zero-COVID policy
• VTech also fell due to weak numbers, which may be related to the depreciation in the Euro vs the Renminbi, where most of the production takes place

Here is the portfolio it stands as of 26 February 2023: