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Portfolio update

Another weak month. The portfolio's value fell by -1.9% month-on-month and is now +26.6% since inception in October 2021, equivalent to an IRR of +12.8%.

There’s been a confluence of factors holding the portfolio back. The US Dollar has been strong, with the DXY index at a one-year high. But Chinese equities have also been unusually weak, with Cafe de Coral and Fairwood continuing to languish. The failed bid for L’Occitane also contributed negatively to the portfolio.

On the positive side, trading volumes in the Philippines seem to have picked up since the launch of GCash’s single-stock trading feature, benefitting the Philippine Stock Exchange.

Here is the portfolio as of 30 September 2023: