*This is NOT the full interview. For the full interview, please visit the website.
The Straits Times
www.straitstimes.com
Published on Aug 05, 2012
Reit's CEO invests for long term
Australian puts his money mainly in Reits and banking stocks
By Joyce Teo
The chief executive of Cambridge Industrial Trust (CIT) Management, Mr Chris Calvert, 41, may own a car but he prefers to make the daily half-hour commute to work by bus.
"I like the bus for two reasons. It's the frugal part of me because it costs only $1.10 and it's also probably the only 30 minutes in the day when I have my own time."
Besides, the journey allows him to experience the local lifestyle and mingle with ordinary Singaporeans from all walks of life.
"Every trip to work is a new experience for me and I love that," he says.
The Australian arrived in Singapore in 2006 to help set up MacArthurCook Industrial Reit, and became its chief executive officer when the real estate investment trust was listed.
He later joined Blaxland Funds Management, a real estate fund manager, as CEO (Asia) before joining CIT in late 2008.
Mr Calvert and his wife Louise, 40, have five sons, who are aged from four to 10.
Q: Are you a spender or saver?
I see myself more as a saver. Just look at the size of my brood and you'd understand why. I have five sons. About 95 per cent of the money I earn goes towards my family - school fees, education, savings for my kids.
I don't like to shop. My wife, who is addicted to shopping, especially for shoes and boots, buys clothes for me.
Actually, I don't shop for myself unless I am in a golf shop. I collect golf clubs and you can never have enough drivers and golf balls. I like wearing loud golf shorts and having an extra pair of golf shoes.
I used to play a lot of golf. Here, with kids growing up, it's harder. I've put regular golf sessions on hold for the next few years as I want to spend my weekends with my kids.
Q: How much do you charge to your credit cards every month?
I charge $1,000 to $2,000.
Q: What financial planning have you done for yourself?
I have standard income protection insurance plans.
I own stocks back home, while here, I continue to build up my shares in CIT.
I now have more than half of my money in the bank in Australia but I am in the process of reweighting my portfolio. I will be slowly moving more money into the stock market here or in Australia.
My philosophy is that investments are for the long term. I am not a trader of shares, to ensure there's that nest egg for the kids, for their education and for the family.
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Q: Home is now...
A rented two-level semi-detached house in Tanjong Katong with a plunge pool. I chose the area as I wanted to be in the midst of the local culture, eating and living like a local and experiencing it all.
In fact, I'm the only Australian family in the street.
Q: I drive...
A family wagon, a Mitsubishi Grandis, which is great for a family of seven.
My wife takes it on weekdays to ferry the children around and run errands. So I mostly take the public bus to work.
joyceteo@sph.com.sg
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BEST & WORST INVESTMENTS
Q: What is your best investment to date?
It's probably my house in Melbourne, though it is an unrealised investment.
I bought it for A$1.5million in 2007 and it has since doubled in value. There is sentimental value attached to it due to its rich history and it is something that I can leave behind for my kids and future generations.
Q: What is your worst investment to date?
A block of land of about 7,500 sq ft located on a golf course on the Mornington Peninsula, which I bought thinking I could double my money.
A good friend of mine, an editor of a golf turf magazine, told me about it.
It was supposed to be used for the Australian Open golf tournament every third year and I figured that the value would shoot through the roof with all the development of the resorts and so on.
Unfortunately, it went the other way as the government changed the plan for the golf course... it was a lesson well learnt.
I bought the land three or four years ago for a few hundred thousand dollars on the spur of the moment.
I have since sold it and I lost more than $10,000 but less than $20,000.
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