This was above my stated objective of 4% after inflation.

Given inflation was between 0% to 1% over the year, the inflation adjusted returned was around 5.7%.

When compared to the benchmarked indices on my stocks portfolio page, my return exceeded the average by 3.7% though significantly below the Bombay Stock Exchange index and the US S&P 500.

Given the 30% plus decline in my portfolio in March, the subsequent 50% plus recovery and a remaining cushion of over 9% of the fund now held in cash; I am fine with the outcome in the first year of this website.

My stocks portfolio page is updated with the closing 11^th February 2021 stock prices, the prior year’s prices and fund net asset values.

Dividend update, new purchases -23rd December 2020.

Cash Dividends from JP Morgan, Mastercard, Apple, Visa, Microsoft, Nasdaq,Link Reit and Barrick Gold received. Shares received from Santander in lieu of cash dividend.

Added to Barrick Gold at US$23,12 and bought Vanguard’s S&P 500 ETF (VOO) at US$ 337,76 – Stock portfolio page updated.

Both purchases are to address the unprecedented printing of money by the US Federal Reserve and the major European economies which is likely to lead to continuing asset inflation. It is also in recognition that stocks are largely now being valued as a function of long-term US Federal Reserve policy with the implication that cash and bonds will be value destructive.

Excess cash held in the fund will now be used to add to Vanguard’s S&P 500 ETF over time. It will also be a useful gauge to see how much my individual stock holdings in total will perform with a low cost S&P 500 ETF in future – 82% of fund managers have not outperformed the S&P 500 over the last 10 years and 87% over the last 15 years (source: Standard & Poor’s SPIVA 2020 indexing study).

Dividends from HKEX, China Lilang, AIA, Ping An, BOC, Brookfield, BAC,NDAQ,CNOOC and DBS received since my blog post dated 12th September (Stock portfolio page then updated on 1st November).