This brings my total holdings to a grand total of 3000 units - still small but significantly larger position. I estimate this bringing up indicative dividends up by about... 2.3x - 2.5x while they are distributing 100% of distributable income up till end of FY19 (as per their policy shared in prospectus back then).
* Calculated based on 1 EUR = 1.57 SGD
This came as a pleasant surprise for me as I do not expect to get all 2000 units. My last rights issue purchase was for Cache Logistic Trust, and even that was oversubscribed by about ~100%. It seems that this particular rights issuance was only ~5% oversubscribed.
Despite the increasing interest rate environment, DPU-dilutive effect of the purchase and the need to focus on paying off my borrowings or building up my emergency funds, I felt this was too necessary of an opportunity to pass up. It is icing to the cake that I get to pay $2 instead of $30 in commission to re-build my income portfolio. Heck, if I was in a better financial position, I would apply for a few thousand more excess rights units.
With that, although the this quarter has yet to come to an end, I update my portfolio for 4Q2018.
Income Portfolio
| |||||
Counters
|
Units
|
Market Price (SGD)
|
Overall Value based on market price (SGD)
|
Allocation
| |
1
|
Cromwell European REIT
|
3000
|
0.667*
|
2001
|
13.80%
|
Growth Portfolio
| |||||
Counters
|
Units
|
Market Price (SGD)
|
Overall Value based on market price (SGD)
|
Allocation
| |
2
|
Alliance Mineral Assets (AMAL)
|
50000
|
0.25
|
12500
|
86.20%
|
Cash and other Assets
| |||||
Counters
|
Units
|
Market Price (SGD)
|
Overall Value based on market price (SGD)
|
Allocation
| |
3
|
Warchest
|
1
|
0
|
0
|
0.00%
|
Total SGD
|
14501
|
100.00%
|
* Calculated based on 1 EUR = 1.57 SGD
Wishing everyone a Merry X-mas (or otherwise Happy Holidays) in advance!
Wah lan. what is the rise in the cromwell average dividend yield on cost?
ReplyDeleteHey Kyith, good to see you again!
DeleteMy current Yield on Cost should work out to about... 8.84%? This is based off annualising the last distribution income given (7 months worth), estimated increase in NPI and estimated dilution in DPU.
Congrats on getting all the rights you have applied for! The amount of rights you have gotten is twice of what you have initially. And that is a really attractive yield on cost.
ReplyDeleteHey thanks! I'm pretty fortunate that it was barely oversubscribed. :)
DeleteI see that you had subscribed to its rights issuance as well? How many did you get in total? Haha.
Delete