Performance of Virtual Fund ~ May 2008

Performance of Virtual Fund ~ May 2008
Performance of Virtual Fund as at end May 2008

China Fish +$2,000
Raffles Education -S$6,000
Noble Group +S$6,380
STX Pan Ocean +S$10,010
Total Unrealised Gain = +S$12,390 = +2.478%
Sum invested = $524,510
Cash holding = $4,110
Realised Profit = $28,620 = 5.724%

The portfolio registered an unrealised gain of $12,390 from an unrealised loss of $33,390 in April mainly due to strong recovery in price of STX Pan Ocean and the switching of Sino Techfibre to Noble Group. The switch was timely as Sino Techfibre price continued to weaken and Noble has risen some 4.6% since my purchase. The performance might have been better if not because of some idiot downgrades on STX Pan Ocean. It hit $4 briefly and the report together with softening of BDI caused it to fall apart like an earthquake.