Performance for Sep’20 The aggregated Acre fixed income portfolios across all clients are up +0.8% in the month of Sep 2020. YTD performance stands at +10.0% vs the IBoxx Asia High Yield Index at +1.1%. Sep 2020 Key Event: China Controls on Property Developers’ Use of Leverage As warned […]
Acre Fixed Income Note Aug 2020
Dear friends and investors, Apologies for not sending this in a while, I have been focusing on rebranding the company as well as making sure that the new fixed income clients that came on board over the last few months are well taken care off. We have also recently moved […]
Acre Fixed Income Note April 2020
Dear friends and investors, Performance Helped by China Fixed Income The aggregated Acre fixed income portfolios across all clients up 10% in the month of April, recovering from the selloff in March. YTD performance stands at +1.8% vs the IBoxx Asia High Yield Index at -8.2%. The strong performance of […]
Acre Fixed Income Note Mar 2020
Dear friends and investors, Lower losses due to prior profit taking The aggregated Acre fixed income portfolios across all clients are down -7.4% YTD as of end March vs the IBoxx Asia High Yield Index at -12.6%. The lower losses were mainly due to timely profit taking in early March […]
Review of 2019 for Acre Fixed Income
Exceptional Year for Fixed Income 2019 has been an exceptional year for fixed income, Acre Fixed Income Managed Accounts are up +14.0% vs the iBoxx USD Asia High Yield Total Return Index returning 13.0%. The strong rebound is due to global central banks lowering interest rates in tandem as economic […]
End of Year 2019 Family Fund Letter
Dear Investors, The Family Fund is up +10.3% for 2019 vs the MSCI Asia Ex Japan Index (SGD) which is up 16.9%. Coming into 2019, we ended 2018 on a sharply bearish note with increasing China-US trade tariffs, tensions and interest rates. The first 4 months of 2019 brought a […]
End of Year 2018 Family Fund Letter
Dear Investors, The Family Fund is down -2.9% for 2018 vs the MSCI Asia Ex Japan Index (SGD) which is down -17.8%. Even though the Fund lost much less than the market (in fact beating it by 15%), the year has been a challenging one. We came into 2018 after […]
End of Year 2017 Family Fund Letter
Dear Investors, I’m pleased to report that the Family Fund gained +24.3% for the year with a largest monthly drawdown of -2.6% vs the market which made +18.1% and a largest month drawdown of -1.6%. The Fund outperformed by 6.2% despite taking a similar risk profile to the market. A […]
End of Year 2016 Family Fund Letter
Dear Investors, I’m pleased to report that the Family Fund gained +17.2% for the year with a largest monthly drawdown of -3.6% vs the market which made nothing and had a drawdown of -8.8%. This means that the Fund made a much larger return in 2016 using more than 2x […]