[split] What is a realistic return on value investing?

[moneyandco]

looks like a lot of outperformance comes from dividends or/& dividends reinvested...

Outperformance to primary benchmark is approximately contributed half - half by both higher capital appreciation and superior dividend yield.

The dotted yellow line represents the absolute unit price net of dividend and so far still maintains outperformance agains TSR of primary benchmark.

However much of it is largely contributed low global interest rates that tend to put higher yielding instruments in the fad. I suspect that when interest rates start to their reversions to historical means, the capital appreciation piece will perform largely in line with benchmarks with superior dividend yields of the portfolio hopefully contributing to that extra 1% - 2% alpha.

[opmi]

looks like a lot of outperformance comes from dividends or/& dividends reinvested...

Outperformance to primary benchmark is approximately contributed half - half by both higher capital appreciation and superior dividend yield.

The dotted yellow line represents the absolute unit price net of dividend and so far still maintains outperformance agains TSR of primary benchmark.

However much of it is largely contributed low global interest rates that tend to put higher yielding instruments in the fad. I suspect that when interest rates start to their reversions to historical means, the capital appreciation piece will perform largely in line with benchmarks with superior dividend yields of the portfolio hopefully contributing to that extra 1% - 2% alpha.

Thanks for reply. I have some more questions. Thanks.

Were the dividends reinvested?

What % of the dividends received special (vs regular) and non-recurring?

[valuebuddies]

Very impressive report, but i would be more interested to know details of your portfolio

Dont get me wrong, but isn't it not very productive if the report is only for self reference purpose? Unless you are doing out of interest or trying to lay a path for your potential future assets management firm?

[opmi]

^^ doing a "Mike Burry"???

[moneyandco]

looks like a lot of outperformance comes from dividends or/& dividends reinvested...

Outperformance to primary benchmark is approximately contributed half - half by both higher capital appreciation and superior dividend yield.

The dotted yellow line represents the absolute unit price net of dividend and so far still maintains outperformance agains TSR of primary benchmark.

However much of it is largely contributed low global interest rates that tend to put higher yielding instruments in the fad. I suspect that when interest rates start to their reversions to historical means, the capital appreciation piece will perform largely in line with benchmarks with superior dividend yields of the portfolio hopefully contributing to that extra 1% - 2% alpha.

Thanks for reply. I have some more questions. Thanks.

Were the dividends reinvested?

What % of the dividends received special (vs regular) and non-recurring?

The DPU amounts in the report are all paid out amounts. However as you can see from payout ratios, some amounts are have been retained and reinvested over the past 3 years.

Generally special dividends are classifed as Return of Capital and will not be paid out in most cases.

[moneyandco]

Very impressive report, but i would be more interested to know details of your portfolio

Dont get me wrong, but isn't it not very productive if the report is only for self reference purpose? Unless you are doing out of interest or trying to lay a path for your potential future assets management firm?

I understand where you are coming from, but I was hoping there may be opportunities to discuss other areas like portfolio management philososphy, performance measurement techniques, risk modeling or business models/structures which may generate new ideas and/or ways of looking at things.

It's really hard for me to discuss specific stocks as I do not place strong emphasis on picking a small basket of stocks and corollary to that, I do not track corporate happenings or do market research to that level of detail by most forumers here other than to catch up on their quarterly/semi-annual financial filings.

Many of the stocks discussed in VB are in my portfolio and to a extent I have benefitted or rather leeched off the hardwrok in research and discussion of some of our forumers here.

Also like mentioned earlier, I did explore very preliminary the feasibility of going down the fund management route, but as of today it remains unlikely unless there is a breakthrough in certain impasses.

[moneyandco]

Hello everyone, here's the latest half yearly report. Hope everyone had a fruitful past 6 months as well.

Past reports can also be found at http://moneyandco.weebly.com

[CityFarmer]

There is no info on the past 6 month/1 year result?

Hello everyone, here's the latest half yearly report. Hope everyone had a fruitful past 6 months as well.

Past reports can also be found at http://moneyandco.weebly.com

[moneyandco]

There is no info on the past 6 month/1 year result?

Hello everyone, here's the latest half yearly report. Hope everyone had a fruitful past 6 months as well.

Past reports can also be found at http://moneyandco.weebly.com

Not auto calculated as I don't like to look at performance in 6 months time frame, but it can be worked out quickly:

31 Dec 14 price was $5.04 in previous report, now 30 Jun 15 is $5.25. Distributions for 6 months was $0.121. That makes the 6 month return +6.57%.

[CityFarmer]

Not auto calculated as I don't like to look at performance in 6 months time frame, but it can be worked out quickly:

31 Dec 14 price was $5.04 in previous report, now 30 Jun 15 is $5.25. Distributions for 6 months was $0.121. That makes the 6 month return +6.57%.

Thanks for the update. I reckon for those funds focus more on Singapore, will yield lower YTD return.

FYI, AVF YTD performance was 15.6%, and Yeoman Cap's was 16.2%. Both funds focus on AP, with lesser weighted in Singapore. Other more concentrated funds under-studies, with AP coverage, have much better performance YTD, with 20-30% return.

I have achieved a lower 9.5% YTD, with full weightage in Singapore. I am having a concentrated approach in investing.

(sharing few points from last review)