Fund Price: HK$1.5675 (+0.0111, 0.71%)
Total Assets: HK$1,275,343.28
Total Units: 813,640.6621 units
YTD: 4.8%
since launch: 56.75%
Dear Investors,
The market have dropped more than 5%, while my fund is up 4.8%, crushing the street like this make me feel good once for awhile.
two more months my fund will be 5 years old, and i have some thoughts about the direction i would like to take for this fund. when i started i plan 5 years as a reasonable "time frame" for me to prove whether i am good enough to be a money managers, i didn't expect an amateur like myself can achieve super amazing results, yet i still have some "bottom line" keep to myself for my first 5 years.
1. i should be able to perform better than the market index, otherwise it is just pointless as we can all invest in market index.
2. i should be able to perform better than most of the so-called "professional fund managers" that i need to pay management fee and performance fee.
although running 1 million size fund is nothing like 1 billion size, i do not feel "proud" of able to beat the professional, because hey, it is very hard for an large size elephant to complete with a small size rabbit. however i think most of my asset allocation strategy will also work in large size fund, i am just practicing and testing whether my strategy works.
the result still have to wait, but i think i did alright unless i make some super big mistakes in the next 2 months.
also a shout out to most of my friends and family members that willing to give me part of their wealth (no matter how little) to make this fund what it is today, many of you told me: "when i gave you the money Calvin, i expect to lose it." i would like to take it as a compliment but it isn't, hahaha, yet frankly it really gives me less pressure to risk, and it turns out alright.
in 2014, i will slowly reduced my loan ratio, not there is almost 50% (540k) of this fund is on loan to different parties in order to collect interest, but in the future i would like more liquidity and flexibility, also as my confident is gained in stock market, i will slowly reduce loan for higher return.
there are also thoughts whether the legitimacy of the fund, that might give you guys (investors) a legit partnership and more protection, but i will need time to see how it actually works here in HK, because i will have concern when the fund size increase, you just can't run a real "private" fund when your fund size is up to several millions without having few people lurking at your back.
and ultimately i would like to combine my insurance, and all my side business with this fund.
I just shared my thoughts, let's see how it goes.
regards,
Calvin
