Friday, January 16, 2015

Weekly Update - 17 Jan 2015

1. Unit Trust Transactions
  • 13 Jan - I bought $500 Allianz US High Yield AM Dis H2-SGD(SGD).
  • 13 Jan - Switch $5506.46 worth of United SGD Fund Cl A Acc to Nikko AM Shenton ShortTerm Bond(S$) in preparation for buying opportunity that may arise.

2. Swiss National Bank Scrapped CHF/EUR

SNB surprised currency market on 14 January after deciding to scrap 3-year-old peg of 1.20 CHF per EUR. The decision swiftly sent the EUR down to 0.85 CHF (~41% drop). This sudden and surprise move caused a number of forex brokers to go into insolvency.

3. Gold Broke Out its 3 Month High to Reach USD 1,280

Gold & gold mining companies were the beneficiaries of flight to safety due to volatility in currency and equity markets.  It finally broke it's 3 month high of USD 1,240 and reached a high of USD 1,280 before closing at USD 1,276.
As I mentioned in my last week update, I expected gold and gold mining companies to benefit and continue their rally due to shifting to assets perceived as safe havens.

4. FSM Event - What & Where to Invest 2015

Same old same old I guess. Nothing much to say, except that all the speakers think it's still bullish for equity markets especially Asia. Within Asia, Hong Kong and Singapore was believed to be the cheapest market at the moment.

There was one fund manager from HSBC, Elina Fung, that impressed me because of her in-depth insight in Asia smaller cap companies.

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