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Portfolio update

The portfolio had a nice rebound in February 2024, rising +2.7% month-on-month and +30.1% since inception in October 2021, equivalent to an IRR of +11.7%.

One explanatory factor was the jump in the share price of Hong Kong-listed cosmetics company L’Occitane after private equity firm Blackstone was rumored to place a bid for the company. Chinese oil & gas company CNOOC also moved higher for reasons I don’t fully understand.

Finally, Philippine equities have slowly moved higher in the past few months. A notable event is the recent reduction in stock transaction fees from 0.6% to 0.1%, causing investors to pay attention to the market again.

Here is what my current Asian portfolio looks like as of 29 February 2024: