No sale in May
Investors did not go away this May, and the economies in Singapore and the United States kept on humming. Listed companies generally reported good solid earnings providing the foundation for the stock market to reach new highs.
Some highlights in the results of companies in the SRS Funds were SATS and Jumbo. Both were bought on the thesis of the revenge travel boom and boy they deliver. For SATS, it returned to profitability and paid dividends for the first time after Covid 19. Jumbo did even better by delivering a 31.8% in earnings to its shareholders.
A new investment into Powermatic Data during May. Powermatic has a small market cap of just above $100m with its business providing wireless solutions to multinational companies. My thesis on the investment is based on the strength of its improving wireless business, exceptional balance sheet and most importantly the willingness to return value to shareholders by developing and then selling its freehold industrial building. I expect the thesis to play out nicely over the next 2 to 3 years.
The SRS Fund ended May at record value as dividends from investees company pour in and the fund generally kept pace with the STI index which is up 3.8% YTD.
Portfolio Segments
The SRS Fund is heavily weighted towards the banking sector due to my optimism about their prospect, especially in South East Asia. Finance will continue to be a major segment of the SRS Fund. With the inclusion of Powermatic, the manufacturing segment increased to 5.8% of the SRS fund providing further diversification.
Dividends
$7,766 worth of dividends were received in Q2 already surpassing the previous year with June still to come. Hence dividends will again likely be the single most important driver contributing to the growth of the SRS Fund for the year.
SRS Fund Value
The SRS Fund value hit a new high of $392,551.71. With this on going pace, pending any big drawdown, the SRS Fund will likely cross the $400k mark by the end of the year.
Cash Levels
I would be more comfortable if the cash level was much higher than the current 2%. Legacy holdings of REITS like Capita India Trust and Mapletree Pan Asia Commercial Trust will be disposed of if the price is right. Nevertheless, I am not too concern at the current level of cash as future dividend collections will allow the SRS Fund to continue to diversify and turn it into a truly all weathered fund.
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The SRS Fund May 2026
Korea, powered by the worldwide shortage and surge in memory demand, was hit directly by the AI wave, with its stock market more than doubling in a matter of 5 months. Taiwan, already the world’s most important advanced chip manufacturing hub has risen to become one of the largest stock market globally.
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MyNest US Fund May 26
May has been an incredibly illuminating month for the MyNest US Fund. Looking across the broader landscape, the S&P 500 Index has continued its steady leg up, gaining +5.15% in the month of May alone to push its Year-to-Date (YTD) gain to +10.73%.
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The SRS Fund Apr 2026
In my investment journey, there have been three occasions where I witnessed a company deliver a 10x return.
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MyNest US Fund Apr 26
The market rebounded strongly in April as investors appeared to look past geopolitical uncertainty and renewed their focus on earnings, artificial intelligence, and the long-term growth prospects of quality businesses.
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The SRS Fund Mar 2026
It is an enduring market reality that a concentrated minority of holdings drives the vast majority of returns. For years, DBS (currently the largest individual holding at 20.6%) has served as the compounding engine of the SRS Fund.
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MyNest US Fund Mar 26
March shattered any lingering market complacency, pivoting sharply from the localized damage of the “SaaS-pocalypse” to a systemic shock driven by the war in Iran.
MYNEST.SG 