The Return of the SG Bull Market
The government drummed that a world class financial sector should include a vibrant stock market. In the month of July this was finally put into action as 2 funds were appointed to invest in the Singapore stock market.
News of such an action improved investors sentiments as funds poured in to kick the STI index into historical high. This couple with the ever dropping SGD interest rate create a perfect storm sending non blue chip stocks to new high
Small cap companies in the SRS Funds benefitted immensely with stocks like Food Empire, Kimly and Haw Par surged.
SATS – AGM of the Year
There are AGMs and then there is AGM where the true quality of the business and shareholders shines. The recently concluded SATS is one of the best I have attended.
Quality questions were asked and met with quality answers. SATS delivered exceptional results and will likely morph into a global aviation logistical force.
During AGM, management explains exactly how they are executing to achieve their target. The best companies have opportunities to reinvest large sum of capital at high returns. SATS is in such a spot. While debt is still high, management indicated its focus is on reducing debt over time. SATS is the company in the SRS Fund with the best growth potential over the next 3 years.
Changes in the SRS Fund
The main change in the SRS Fund in July was the sale of Capitaland India Trust. While the fund has had decent growth, the strength of the Indian rupee is a cause for concern. The proceeds are reinvested in a new IPO called Info-Tech Systems. The business is a provider of human resource software for local SMEs. Being a user of the software, I get to see the good economics of the business model first-hand.
Portfolio Segments
The property segment fell to 14.2% after the sale of Capitaland India Trust. With the investment in Info-Tech, services now make up 20.7% of the SRS Fund.
Dividends
Q3 dividend collection started with $300. With the earnings announcement on the way total dividend in Q3 should exceed that of 2024 despite a likelihood of dividend cuts by major local banks.
SRS Fund Value
Total SRS Fund value hit another record high at $533,303.40. This is up 13.45% for the year versus the STI 10.1%.
Cash Levels
Cash level continues to remain low as we stay fully invested during this bull run. Going forward, I will pay close attention to share prices. I may choose to increase the SRS Fund cash position if the market continues to move further upwards beyond its fundamental.
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The SRS Fund Sep 2026
Sep brought a modest recovery in the SRS Fund, but it also left me thinking more carefully about how much of Singapore’s current economic and market strength is connected to the AI investment cycle.
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MyNest US Fund Sep 26
The month of Sep brought together two developments that matter to our portfolio: Further progress in the field of AI and a sharp increase in long-term interest rates.
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The SRS Fund Aug 2026
Aug’s economic update provided another reminder of how closely Singapore has become connected to the global investment in AI and semiconductors.
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MyNest US Fund Aug 26
The idea behind the “SaaSpocalypse” was simple: if artificial intelligence could write software, generate content and complete business tasks, what would happen to the software companies charging customers to do those things?
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The SRS Fund Jul 2026
For much of 2026, the market’s attention has been firmly fixed on AI, semiconductors and anything connected to the massive build-out in computing infrastructure.
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MyNest US Fund Jul 26
After spending a long period watching the artificial intelligence infrastructure build-out from the sidelines, we finally decided to join the party—albeit cautiously.
